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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income (loss) $ (883) $ (2,775) $ 918
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization expenses 25 56 25
Amortization of premiums and accretion of discounts associated with investments, net (271) (231) (233)
(Gains) losses on investments, net 27 67 (5)
(Gains) losses on derivatives, net 3,084 6,998 1,321
(Income) loss from equity method investments, net of dividends and distributions (50) 26 110
Interest credited to policyholder account balances 1,076 1,131 1,224
Universal life and investment-type product policy fees (3,156) (3,097) (3,293)
Goodwill impairment 0 381 0
Change in accrued investment income (80) (35) 10
Change in premiums, reinsurance and other receivables 55 45 (403)
Change in deferred policy acquisition costs and value of business acquired, net 660 (555) 273
Change in income tax 0 (1,830) 724
Change in other assets 2,176 2,152 2,231
Change in future policy benefits and other policy-related balances 1,522 2,404 2,283
Change in other liabilities (314) (590) (206)
Other, net 75 (16) 13
Net cash provided by (used in) operating activities 3,946 4,131 4,992
Cash flows from investing activities      
Sales, maturities and repayments of fixed maturity securities 16,409 45,460 38,341
Sales, maturities and repayments of equity securities 97 224 308
Sales, maturities and repayments of mortgage loans 761 1,560 1,083
Sales, maturities and repayments of real estate and real estate joint ventures 77 446 512
Sales, maturities and repayments of other limited partnership interests 262 417 425
Purchases of fixed maturity securities (17,811) (39,097) (43,502)
Purchases of equity securities (2) (58) (273)
Purchases of mortgage loans (2,044) (2,847) (2,560)
Purchases of real estate and real estate joint ventures (268) (75) (109)
Purchases of other limited partnership interests (263) (203) (233)
Cash received in connection with freestanding derivatives 1,859 707 224
Cash paid in connection with freestanding derivatives (3,829) (2,764) (869)
Cash received under repurchase agreements 0 0 199
Cash paid under repurchase agreements 0 0 (199)
Cash received under reverse repurchase agreements 0 0 199
Cash paid under reverse repurchase agreements 0 0 (199)
Sale of operating joint venture interest to a former affiliate 42 0 0
Sale of loans to a former affiliate 0 0 26
Receipts on loans to a former affiliate 0 50 0
Net change in policy loans (14) 109 (72)
Net change in short-term investments 1,057 596 (343)
Net change in other invested assets (16) 7 (55)
Net cash provided by (used in) investing activities (3,683) 4,532 (7,097)
Cash flows from financing activities      
Policyholder account balances: Deposits 4,381 10,040 20,269
Policyholder account balances: Withdrawals (3,114) (12,292) (21,078)
Net change in payables for collateral under securities loaned and other transactions (3,139) (3,251) 3,121
Long-term debt issued 0 0 175
Long-term debt repaid (13) (26) (235)
Returns of capital (Note 3) (3,425) 0 0
Capital contributions 1,300 1,688 406
Capital contribution associated with the sale of operating joint venture interest to a former affiliate 202 0 0
Dividends paid to MetLife, Inc. 0 (261) (500)
Financing element on certain derivative instruments and other derivative related transactions, net (149) (1,011) (97)
Net cash provided by (used in) financing activities (3,957) (5,113) 2,061
Effect of change in foreign currency exchange rates on cash and cash equivalents balances 0 0 (2)
Change in cash and cash equivalents (3,694) 3,550 (46)
Cash and cash equivalents, beginning of year 5,057 1,507 1,553
Cash and cash equivalents, end of year 1,363 5,057 1,507
Supplemental disclosures of cash flow information      
Net cash paid (received) for interest 81 130 137
Net cash paid (received) for income tax (684) 150 (463)
Non-cash transactions:      
Transfer of fixed maturity securities from former affiliates 0 4,030 0
Transfer of mortgage loans from former affiliates 0 662 0
Transfer of short-term investments from former affiliates 0 94 0
Transfer of fixed maturity securities to former affiliates 293 346 0
Reduction of other invested assets in connection with affiliated reinsurance transactions 0 676 0
Reduction of policyholder account balances in connection with reinsurance transactions $ 293 $ 0 $ 0