MetLife, Inc. Consolidated Statements of Cash Flows — (Continued) For the Years Ended December 31, 2012, 2011 and 2010 (In millions) 2012 2011 2010 Cash flows from financing activities Policyholder account balances: Deposits ................................................................................. $91,284 $91,946 $ 74,296 Withdrawals ............................................................................... (86,994) (87,625) (69,739) Net change in payables for collateral under securities loaned and other transactions ........................ (29) 6,444 3,076 Net change in bank deposits ................................................................... (4,169) 96 (32) Net change in short-term debt .................................................................. (586) 380 (606) Long-term debt issued ........................................................................ 750 1,346 5,090 Long-term debt repaid ........................................................................ (1,702) (2,042) (1,061) 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 — — Common stock issued, net of issuance costs ...................................................... 1,000 2,950 3,529 Redemption of convertible preferred stock ......................................................... — (2,805) — Preferred stock redemption premium ............................................................. — (146) — Dividends on preferred stock ................................................................... (122) (122) (122) Dividends on common stock ................................................................... (811) (787) (784) Other, net .................................................................................. 609 212 (266) Net cash provided by financing activities ............................................................ 35 9,382 13,381 Effect of change in foreign currency exchange rates on cash and cash equivalents balances ................... 11 (22) (129) Change in cash and cash equivalents .............................................................. 5,277 (2,585) 2,934 Cash and cash equivalents, beginning of year ........................................................ 10,461 13,046 10,112 Cash and cash equivalents, end of year ........................................................ $15,738 $ 10,461 $ 13,046 Cash and cash equivalents, subsidiaries held-for-sale, beginning of year ................................... $ — $ 89 $ 88 Cash and cash equivalents, subsidiaries held-for-sale, end of year ................................ $ — $ — $ 89 Cash and cash equivalents, from continuing operations, beginning of year .................................. $10,461 $ 12,957 $ 10,024 Cash and cash equivalents, from continuing operations, end of year ............................... $15,738 $ 10,461 $ 12,957 Supplemental disclosures of cash flow information: Net cash paid (received) for: Interest .................................................................................. $ 1,335 $ 1,565 $ 1,489 Income tax................................................................................ $ 554 $ 676 $ (23) Non-cash transactions: Business acquisitions: Assets acquired ......................................................................... $ 595 $ 327 $125,728 Liabilities assumed ....................................................................... (579) (94) (109,306) Redeemable and non-redeemable noncontrolling interests assumed ................................. — — (130) Net assets acquired ...................................................................... 16 233 16,292 Cash paid, excluding transaction costs of $0, $0 and $88, respectively .............................. (16) (233) (7,196) Other purchase price adjustments ........................................................... — — 98 Securities issued ......................................................................... $ — $ — $ 9,194 Purchase money mortgage loans on sales of real estate joint ventures ................................. $ — $ — $ 2 Real estate and real estate joint ventures acquired in satisfaction of debt ................................ $ 553 $ 292 $ 93 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. MetLife, Inc. 84