MetLife, Inc. Consolidated Statements of Cash Flows For the Years Ended December 31, 2012, 2011 and 2010 (In millions) See accompanying notes to the consolidated financial statements. MetLife, Inc. 2012 2011 2010 Cash flows from operating activities Net income (loss) ......................................................................... $ 1,362 $ 6,415 $ 2,663 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization expenses ...................................................... 596 679 585 Amortization of premiums and accretion of discounts associated with investments, net ................. (426) (477) (1,078) (Gains) losses on investments and derivatives and from sales of businesses, net ...................... 3,197 (3,181) 854 (Income) loss from equity method investments, net of dividends or distributions ....................... 108 315 48 Interest credited to policyholder account balances .............................................. 7,729 5,603 4,925 Interest credited to bank deposits ........................................................... 78 95 137 Universal life and investment-type product policy fees ........................................... (8,556) (7,806) (6,037) Goodwill impairment ..................................................................... 1,868 — — Change in fair value option and trading securities ............................................... 1,900 648 (1,369) Change in residential mortgage loans held-for-sale, net .......................................... 3,370 (4,530) (487) Change in mortgage servicing rights ......................................................... 153 (60) (165) Change in accrued investment income ....................................................... 219 525 (206) Change in premiums, reinsurance and other receivables ......................................... (109) 58 (1,023) Change in deferred policy acquisition costs and value of business acquired, net ...................... (1,139) (591) (370) Change in income tax .................................................................... (883) 1,742 1,231 Change in other assets ................................................................... 2,951 2,360 1,948 Change in insurance-related liabilities and policy-related balances .................................. 5,918 7,081 6,491 Change in other liabilities .................................................................. (1,699) 1,136 (315) Other, net ............................................................................. 523 261 153 Net cash provided by operating activities ....................................................... 17,160 10,273 7,985 Cash flows from investing activities Sales, maturities and repayments of: Fixed maturity securities ................................................................. 103,823 104,302 86,529 Equity securities ....................................................................... 1,140 2,006 1,371 Mortgage loans ....................................................................... 14,673 13,486 6,361 Real estate and real estate joint ventures ................................................... 1,018 1,296 322 Other limited partnership interests ......................................................... 974 1,121 522 Purchases of: Fixed maturity securities ................................................................. (115,793) (116,939) (100,713) Equity securities ....................................................................... (627) (1,481) (949) Mortgage loans ....................................................................... (11,442) (14,694) (8,967) Real estate and real estate joint ventures ................................................... (1,942) (1,534) (786) Other limited partnership interests ......................................................... (1,323) (1,147) (1,008) Cash received in connection with freestanding derivatives ........................................ 1,933 2,815 1,814 Cash paid in connection with freestanding derivatives ........................................... (3,258) (3,478) (2,548) Net change in securitized reverse residential mortgage loans ...................................... (1,198) — — Sales of businesses, net of cash and cash equivalents disposed of $29, $54 and $0, respectively ....................................................................... 576 126 — Sale of interest in joint venture .............................................................. — 265 — Disposal of subsidiary .................................................................... — 4 — Purchases of businesses, net of cash and cash equivalents acquired of $33, $70 and $4,175, respectively ................................................................... (16) (163) (3,021) Net change in policy loans ................................................................ (111) (66) (225) Net change in short-term investments ........................................................ 593 (7,949) 3,033 Net change in other invested assets ......................................................... (791) (19) 148 Other, net ............................................................................. (158) (169) (186) Net cash used in investing activities ........................................................... $ (11,929) $ (22,218) $ (18,303) 83