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The following table presents earned income on derivatives for the: 

## Notes to the Consolidated Financial Statements — (Continued) 

## MetLife, Inc. 

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## Non-Qualifying Derivatives and Derivatives for Purposes Other Than Hedging 

The following table presents the amount and location of gains (losses) recognized in income for derivatives that were not designated or qualifying as hedging instruments: 

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(1) Changes in estimated fair value related to economic hedges of equity method investments in joint ventures; changes in estimated fair value related to derivatives held in relation to trading portfolios; and changes in estimated fair value related to derivatives held within contractholder-directed unit- linked investments. 

(2) Changes in estimated fair value related to economic hedges of variable annuity guarantees included in future policy benefits. 

(3) Changes in estimated fair value related to derivatives held in connection with the Company’s mortgage banking activities. 

(4) Changes in estimated fair value related to economic hedges of foreign currency exposure associated with the Company’s international subsidiaries. 

## Fair Value Hedges 

The Company designates and accounts for the following as fair value hedges when they have met the requirements of fair value hedging: (i) interest rate swaps to convert fixed rate assets and liabilities to floating rate assets and liabilities; (ii) foreign currency swaps to hedge the foreign currency fair value exposure of foreign currency denominated assets and liabilities; and (iii) foreign currency forwards to hedge the foreign currency fair value exposure of foreign currency denominated fixed rate investments. 

