Analyzing and Interpreting Available-for-Sale Securities Disclosures
Following is a portion of the investments footnote from MetLife’s 2012 10-K report. Investment earnings are a crucial component of the financial performance of insurance companies such as M etLife, and investments comprise a large part of Met Life's assets. MetLife accounts for its fixed maturity (debt security or bond) in vestments as available-for-sale securities.
a. At what amount does M etLife report its fixed maturity securities on its balance sheets for 2012 and 2011?
b. What is the difference between realized and unrealized gains and losses?
c. What are the net unrealized gains (losses) for 2012 and 2011 on its fixed maturity securities? How did these unrealized gains (losses) affect the company’s reported income in 2012 and 2011? (Hint: see the Google footnote excerpt on page 9-7 for an explanation of how OTT! losses affect income.
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