MetLife 2013 Annual Report Download - page 97

MetLife, Inc.
Consolidated Statements of Cash Flows — (Continued)
For the Years Ended December 31, 2013, 2012 and 2011
(In millions)
2013 2012 2011
Cash flows from financing activities
Policyholder account balances:
Deposits ................................................................................ $79,193 $ 91,284 $ 91,946
Withdrawals ............................................................................. (84,874) (86,994) (87,625)
Net change in payables for collateral under securities loaned and other transactions ....................... (3,276) (29) 6,444
Net change in bank deposits .................................................................. 8 (4,169) 96
Net change in short-term debt ................................................................. 75 (586) 380
Long-term debt issued ...................................................................... 1,372 750 1,346
Long-term debt repaid ....................................................................... (1,746) (1,702) (2,042)
Collateral financing arrangements repaid ......................................................... — (349) (502)
Cash received (paid) in connection with collateral financing arrangements ............................... — (44) 37
Net change in liability for securitized reverse residential mortgage loans ................................. — 1,198 —
Cash received in connection with redeemable noncontrolling interests .................................. 774 — —
Common stock issued, net of issuance costs ..................................................... 1,000 1,000 2,950
Redemption of convertible preferred stock ....................................................... — — (2,805)
Preferred stock redemption premium ............................................................ — — (146)
Dividends on preferred stock .................................................................. (122) (122) (122)
Dividends on common stock .................................................................. (1,119) (811) (787)
Other, net ................................................................................. (192) 609 212
Net cash provided by (used in) financing activities ................................................... (8,907) 35 9,382
Effect of change in foreign currency exchange rates on cash and cash equivalents balances .................. (212) 11 (22)
Change in cash and cash equivalents ............................................................. (8,153) 5,277 (2,585)
Cash and cash equivalents, beginning of year ...................................................... 15,738 10,461 13,046
Cash and cash equivalents, end of year ....................................................... $ 7,585 $ 15,738 $ 10,461
Cash and cash equivalents, subsidiaries held-for-sale, beginning of year .................................. $ — $ — $ 89
Cash and cash equivalents, subsidiaries held-for-sale, end of year ............................... $ — $ — $ —
Cash and cash equivalents, from continuing operations, beginning of year ................................ $15,738 $ 10,461 $ 12,957
Cash and cash equivalents, from continuing operations, end of year ............................. $ 7,585 $ 15,738 $ 10,461
Supplemental disclosures of cash flow information:
Net cash paid (received) for:
Interest ................................................................................. $ 1,270 $ 1,335 $ 1,565
Income tax .............................................................................. $ 677 $ 554 $ 676
Non-cash transactions:
Business acquisitions:
Assets acquired ........................................................................ $ 2,988 $ 595 $ 327
Liabilities assumed ...................................................................... (972) (579) (94)
Noncontrolling interests assumed .......................................................... (176) — —
Cash paid, excluding transaction costs of $17, $0 and $0, respectively ............................. $ 1,840 $ 16 $ 233
Real estate and real estate joint ventures acquired in satisfaction of debt .............................. $ 59 $ 553 $ 292
Collateral financing arrangements repaid ....................................................... $ — $ 102 $ 148
Redemption of advances agreements in long-term debt ........................................... $ — $ 3,806 $ —
Issuance of funding agreements in policyholder account balances ................................... $ — $ 3,806 $ —
See accompanying notes to the consolidated financial statements.
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