MetLife 2013 Annual Report Download - page 90

MetLife, Inc.
Consolidated Balance Sheets
December 31, 2013 and 2012
(In millions, except share and per share data)
2013 2012
Assets
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $333,599 and $340,870, respectively; includes $4,005
and $3,378, respectively, relating to variable interest entities) .............................................................. $ 350,187 $ 374,266
Equity securities available-for-sale, at estimated fair value (cost: $3,012 and $2,838, respectively) ................................... 3,402 2,891
Fair value option and trading securities, at estimated fair value (includes $662 and $659, respectively, of actively traded securities; and $92
and $112, respectively, relating to variable interest entities) ................................................................ 17,423 16,348
Mortgage loans:
Held-for-investment, principally at amortized cost (net of valuation allowances of $322 and $347, respectively; includes $1,621 and $2,715,
respectively, at estimated fair value, relating to variable interest entities; includes $338 and $0, respectively, under the fair value option) . . . 57,703 56,592
Held-for-sale, principally at estimated fair value (includes $0 and $49, respectively, under the fair value option) ........................ 3 414
Mortgage loans, net ............................................................................................. 57,706 57,006
Policy loans (includes $2 and $0, respectively, relating to variable interest entities) ............................................... 11,764 11,884
Real estate and real estate joint ventures (includes $1,141 and $10, respectively, relating to variable interest entities; includes $186 and $1,
respectively, of real estate held-for-sale) .............................................................................. 10,712 9,918
Other limited partnership interests (includes $53 and $274, respectively, relating to variable interest entities) ........................... 7,401 6,688
Short-term investments, principally at estimated fair value (includes $8 and $0, respectively, relating to variable interest entities) ............ 13,955 16,906
Other invested assets, principally at estimated fair value (includes $78 and $81, respectively, relating to variable interest entities) ........... 16,229 21,145
Total investments ............................................................................................ 488,779 517,052
Cash and cash equivalents, principally at estimated fair value (includes $70 and $99, respectively, relating to variable interest entities) ........ 7,585 15,738
Accrued investment income (includes $26 and $13, respectively, relating to variable interest entities) .................................. 4,255 4,374
Premiums, reinsurance and other receivables (includes $22 and $5, respectively, relating to variable interest entities) ..................... 21,859 21,634
Deferred policy acquisition costs and value of business acquired (includes $255 and $0, respectively, relating to variable interest entities) ..... 26,706 24,761
Goodwill ......................................................................................................... 10,542 9,953
Other assets (includes $152 and $5, respectively, relating to variable interest entities) .............................................. 8,369 7,876
Separate account assets (includes $1,033 and $0, respectively, relating to variable interest entities) .................................. 317,201 235,393
Total assets ................................................................................................. $ 885,296 $ 836,781
Liabilities and Equity
Liabilities
Future policy benefits (includes $516 and $0, respectively, relating to variable interest entities) ....................................... $ 187,942 $ 192,351
Policyholder account balances (includes $56 and $0, respectively, relating to variable interest entities) ................................. 212,885 225,821
Other policy-related balances (includes $123 and $0, respectively, relating to variable interest entities) ................................. 15,214 15,463
Policyholder dividends payable ........................................................................................ 675 728
Policyholder dividend obligation ........................................................................................ 1,771 3,828
Payables for collateral under securities loaned and other transactions .......................................................... 30,411 33,687
Bank deposits ..................................................................................................... — 6,416
Short-term debt .................................................................................................... 175 100
Long-term debt (includes $1,868 and $2,527, respectively, at estimated fair value, relating to variable interest entities) .................... 18,653 19,062
Collateral financing arrangements ...................................................................................... 4,196 4,196
Junior subordinated debt securities ..................................................................................... 3,193 3,192
Current income tax payable ........................................................................................... 186 401
Deferred income tax liability ........................................................................................... 6,643 8,693
Other liabilities (includes $88 and $40, respectively, relating to variable interest entities) ............................................ 23,168 22,492
Separate account liabilities (includes $1,033 and $0, respectively, relating to variable interest entities) ................................. 317,201 235,393
Total liabilities ................................................................................................ 822,313 771,823
Contingencies, Commitments and Guarantees (Note 21)
Redeemable noncontrolling interests ...................................................................... 887 121
Equity
MetLife, Inc.’s stockholders’ equity: .......................................................................
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized: 84,000,000 shares issued and outstanding;
$2,100 aggregate liquidation preference ............................................................... 1 1
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,125,224,024 and 1,094,880,623 shares
issued at December 31, 2013 and 2012, respectively; 1,122,030,137 and 1,091,686,736 shares outstanding at
December 31, 2013 and 2012, respectively ............................................................ 11 11
Additional paid-in capital .............................................................................. 29,277 28,011
Retained earnings ................................................................................... 27,332 25,205
Treasury stock, at cost; 3,193,887 shares at December 31, 2013 and 2012 ..................................... (172) (172)
Accumulated other comprehensive income (loss) .......................................................... 5,104 11,397
Total MetLife, Inc.’s stockholders’ equity .............................................................. 61,553 64,453
Noncontrolling interests ................................................................................ 543 384
Total equity .................................................................................... 62,096 64,837
Total liabilities and equity .......................................................................... $885,296 $836,781
See accompanying notes to the consolidated financial statements.
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