MetLife, Inc. Notes to the Consolidated Financial Statements — (Continued) MetLife, Inc. 157 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Equity Securities: FVO and Trading Securities: Common Stock Non- redeemable Preferred Stock Actively Traded Securities FVO General Account Securities FVO Contractholder- directed Unit-linked Investments Short-term Investments Mortgage Loans Held- for-sale MSRs (6) (In millions) Year Ended December 31, 2010: Balance, January 1, ...................$ 136 $ 1,102 $ 32 $ 51 $ — $ 23 $ 25 $ 878 Total realized/unrealized gains (losses) included in: Net income (loss): (1), (2) Net investment income ............ — — — 8 (15) 2 — — Net investment gains (losses) ........ 5 46 — — — — — — Net derivative gains (losses) ......... — — — — — — — — Other revenues .................. — — — — — — (2) (79) Policyholder benefits and claims ..... — — — — — — — — Other expenses .................. — — — — — — — — Other comprehensive income (loss) .... 7 12 — — — (9) — — Purchases, sales, issuances and settlements (3) ..................... 128 (250) (22) (1) 750 842 — 151 Transfers into Level 3 (4) ............... 1 — — 37 — — 10 — Transfers out of Level 3 (4) ............. (9) (5) — (18) — — (9) — Balance, December 31, ...............$ 268 $ 905 $ 10 $ 77 $ 735 $ 858 $ 24 $ 950 Changes in unrealized gains (losses) included in net income (loss): (5) Net investment income ................$ — $ — $ — $ 12 $ (15) $ 2 $ — $ — Net investment gains (losses) ...........$ (2) $ (3) $ — $ — $ — $ — $ — $ — Net derivative gains (losses) .............$ — $ — $ — $ — $ — $ — $ — $ — Other revenues ......................$ — $ — $ — $ — $ — $ — $ (2) $ (28) Policyholder benefits and claims .........$ — $ — $ — $ — $ — $ — $ — $ — Other expenses ......................$ — $ — $ — $ — $ — $ — $ — $ —