KIMCO REALTY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED As of December 31, 2009, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
## Table 0 ##
The fair value of these derivative financial instruments classified as asset derivatives was $0.4 million and $0 for December 31, 2009 and 2008, respectively.
The fair value of these derivative financial instruments classified as liability derivatives was $(0.5) million and $(0.8) million for December 31, 2009 and 2008, respectively.
Credit-risk-related Contingent Features The Company has agreements with one of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations.
The Company has an agreement with a derivative counterparty that incorporates the loan covenant provisions of the Company’s indebtedness with a lender affiliate of the derivative counterparty.
Failure to comply with the loan covenant provisions would result in the Company being in default on any derivative instrument obligations covered by the agreement.18.
Preferred Stock, Common Stock and Convertible Unit Transactions: During December 2009, the Company completed a primary public stock offering of 28,750,000 shares of the Company’s common stock.
The net proceeds from this sale of common stock, totaling approximately $345.1 million (after related transaction costs of $0.75 million) were used to partially repay the outstanding balance under the Company’s U. S.  revolving credit facility.
During April 2009, the Company completed a primary public stock offering of 105,225,000 shares of the Company’s common stock.
The net proceeds from this sale of common stock, totaling approximately $717.3 million (after related transaction costs of $0.7 million) were used to partially repay the outstanding balance under the Company’s U. S.  revolving credit facility and for general corporate purposes.
During September 2008, the Company completed a primary public stock offering of 11,500,000 shares of the Company’s common stock.
The net proceeds from this sale of common stock, totaling approximately $409.4 million (after related transaction costs of $0.6 million) were used to partially repay the outstanding balance under the Company’s U. S.  revolving credit facility.
During October 2007, the Company issued 18,400,000 Depositary Shares (the “Class G Depositary Shares”), after the exercise of an over-allotment option, each representing a one-hundredth fractional interest in a share of the Company’s 7.75% Class G Cumulative Redeemable Preferred Stock, par value $1.00 per share (the “Class G Preferred Stock”).
Dividends on the Class G Depositary Shares are cumulative and payable quarterly in arrears at the rate of 7.75% per annum based on the $25.00 per share initial offering price, or $1.9375 per annum.
The Class G Depositary Shares are redeemable, in whole or part, for cash on or after October 10, 2012, at the option of the Company, at a redemption price of $25.00 per depositary share, plus any accrued and unpaid dividends thereon.
The Class G Depositary Shares are not convertible or exchangeable for any other property or securities of the Company.
The Class G Preferred Stock (represented by the Class G Depositary Shares outstanding) ranks pari passu with the Company’s Class F Preferred Stock as to voting rights, priority for receiving dividends and liquidation preference as set forth below.
During June 2003, the Company issued 7,000,000 Depositary Shares (the “Class F Depositary Shares”), each such Class F Depositary Share representing a one-tenth fractional interest of a share of the Company’s 6.65% Class F Cumulative Redeemable Preferred Stock, par value $1.00 per share (the “Class F Preferred Stock”).
Dividends on the Class F Depositary Shares are cumulative and payable quarterly in arrears at the rate of 6.65% per annum based on the
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Mortgage Servicing Rights The following table presents the carrying value and changes in capitalized MSRs, which are included in other invested assets:
## Table 1 ##
The Company recognizes the rights to service residential mortgage loans as MSRs.
MSRs are either acquired or are generated from the sale of originated residential mortgage loans where the servicing rights are retained by the Company.
MSRs are carried at estimated fair value and changes in estimated fair value, primarily due to changes in valuation inputs and assumptions and to the collection of expected cash flows, are reported in other revenues in the period in which the change occurs.
Valuation inputs and assumptions include generally observable inputs such as type and age of loan, loan interest rates, current market interest rates and certain unobservable inputs, including assumptions regarding estimates of discount rates, loan prepayments and servicing costs, all of which are sensitive to changing market conditions.
See Note 5 for further information about how the estimated fair value of MSRs is determined and other related information.
Short-term Investments The carrying value of short-term investments, which includes investments with remaining maturities of one year or less, but greater than three months, at the time of purchase was $9.4 billion and $8.4 billion at December 31, 2010 and 2009, respectively.
The Company is exposed to concentrations of credit risk related to securities of the U. S.  government and certain U. S.  government agencies included within short-term investments, which were $4.0 billion and $7.5 billion at December 31, 2010 and 2009, respectively.
Cash Equivalents The carrying value of cash equivalents, which includes investments with an original or remaining maturity of three months or less, at the time of purchase was $9.6 billion and $8.4 billion at December 31, 2010 and 2009, respectively.
The Company is exposed to concentrations of credit risk related to securities of the U. S.  government and certain U. S.  government agencies included within cash equivalents, which were $5.8 billion and $6.0 billion at December 31, 2010 and 2009, respectively.
Purchased Credit Impaired Investments Investments acquired with evidence of credit quality deterioration since origination and for which it is probable at the acquisition date that the Company will be unable to collect all contractually required payments are classified as purchased credit impaired investments.
For each investment, the excess of the cash flows expected to be collected as of the acquisition date over its acquisition date fair value is referred to as the accretable yield and is recognized as net investment income on an effective yield basis.
If subsequently, based on current information and events, it is probable that there is a significant increase in cash flows previously expected to be collected or if actual cash flows are significantly greater than cash flows previously expected to be collected, the accretable yield is adjusted prospectively.
The excess of the contractually required payments (including interest) as of the acquisition date over the cash flows expected to be collected as of the acquisition date is referred to as the nonaccretable difference, and this amount is not expected to be realized as net investment income.
Decreases in cash flows expected to be collected can result in OTTI or the recognition of mortgage loan valuation allowances (see Note 1).
The table below presents the purchased credit impaired investments, by invested asset class, held at:
## Table 2 ##
(1) Represents the contractually required payments which is the sum of contractual principal, whether or not currently due, and accrued interest.
(2) Estimated fair value plus accrued interest for fixed maturity securities and amortized cost, plus accrued interest, less any valuation allowances for mortgage loans.
The following table presents information about purchased credit impaired investments, as of their respective acquisition dates, for:
## Table 3 ##
## Table 4 ##
Years Ended December 31,
## Table 5 ##
(1) On November 1, 2010, the Holding Company acquired ALICO.
The results of the Acquisition are reflected in the 2010 selected financial data.
See Note 2 of the Notes to the Consolidated Financial Statements.

Tables referenced above, in order (Table 0 first):
<table><tr><td>Interest Rate Derivates</td><td>Number of Instruments</td><td>Notional</td></tr><tr><td>Interest Rate Caps</td><td>2</td><td>$ 83.1 million</td></tr><tr><td>Interest Rate Swaps</td><td>2</td><td>$ 23.6 million</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Estimated fair value at January 1,</td><td>$878</td><td>$191</td><td>$—</td></tr><tr><td>Acquisition of MSRs</td><td>110</td><td>117</td><td>350</td></tr><tr><td>Origination of MSRs</td><td>220</td><td>511</td><td>—</td></tr><tr><td>Reductions due to loan payments</td><td>-136</td><td>-113</td><td>-10</td></tr><tr><td>Reductions due to loan sales</td><td>-43</td><td>—</td><td>—</td></tr><tr><td>Changes in estimated fair value due to:</td><td></td><td></td><td></td></tr><tr><td>Changes in valuation model inputs or assumptions</td><td>-79</td><td>172</td><td>-149</td></tr><tr><td>Estimated fair value at December 31,</td><td>$950</td><td>$878</td><td>$191</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31, 2010</td></tr><tr><td></td><td> Fixed Maturity Securities</td><td> Mortgage Loans</td></tr><tr><td></td><td colspan="2"> (In millions)</td></tr><tr><td>Outstanding principal and interest balance -1</td><td>$1,548</td><td>$504</td></tr><tr><td>Carrying value -2</td><td>$1,050</td><td>$195</td></tr></table>
<table><tr><td></td><td colspan="2"> Year Ended December 31, 2010</td></tr><tr><td></td><td> Fixed Maturity Securities</td><td> Mortgage Loans</td></tr><tr><td></td><td colspan="2"> (In millions)</td></tr><tr><td>Contractually required payments (including interest)</td><td>$2,126</td><td>$553</td></tr><tr><td>Cash flows expected to be collected -1 (2)</td><td>$1,782</td><td>$374</td></tr><tr><td>Fair value of investments acquired</td><td>$1,076</td><td>$201</td></tr></table>
<table><tr><td></td><td colspan="5">December 31,</td></tr><tr><td></td><td>2010</td><td>2009</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td></td><td colspan="5">(In millions)</td></tr><tr><td> Balance Sheet Data -1</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>General account assets -2</td><td>$547,569</td><td>$390,273</td><td>$380,839</td><td>$399,007</td><td>$383,758</td></tr><tr><td>Separate account assets</td><td>183,337</td><td>149,041</td><td>120,839</td><td>160,142</td><td>144,349</td></tr><tr><td>Total assets</td><td>$730,906</td><td>$539,314</td><td>$501,678</td><td>$559,149</td><td>$528,107</td></tr><tr><td>Liabilities:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Policyholder liabilities and other policy-related balances -3</td><td>$401,905</td><td>$283,759</td><td>$282,261</td><td>$261,442</td><td>$252,099</td></tr><tr><td>Payables for collateral under securities loaned and other transactions</td><td>27,272</td><td>24,196</td><td>31,059</td><td>44,136</td><td>45,846</td></tr><tr><td>Bank deposits</td><td>10,316</td><td>10,211</td><td>6,884</td><td>4,534</td><td>4,638</td></tr><tr><td>Short-term debt</td><td>306</td><td>912</td><td>2,659</td><td>667</td><td>1,449</td></tr><tr><td>Long-term debt -2</td><td>27,586</td><td>13,220</td><td>9,667</td><td>9,100</td><td>8,822</td></tr><tr><td>Collateral financing arrangements</td><td>5,297</td><td>5,297</td><td>5,192</td><td>4,882</td><td>—</td></tr><tr><td>Junior subordinated debt securities</td><td>3,191</td><td>3,191</td><td>3,758</td><td>4,075</td><td>3,381</td></tr><tr><td>Other -2</td><td>22,583</td><td>15,989</td><td>15,374</td><td>33,186</td><td>32,277</td></tr><tr><td>Separate account liabilities</td><td>183,337</td><td>149,041</td><td>120,839</td><td>160,142</td><td>144,349</td></tr><tr><td>Total liabilities</td><td>681,793</td><td>505,816</td><td>477,693</td><td>522,164</td><td>492,861</td></tr><tr><td>Redeemable noncontrolling interests in partially owned consolidated securities</td><td>117</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Equity:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>MetLife, Inc.’s stockholders’ equity:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Preferred stock, at par value</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Convertible preferred stock, at par value</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Common stock, at par value</td><td>10</td><td>8</td><td>8</td><td>8</td><td>8</td></tr><tr><td>Additional paid-in capital</td><td>26,423</td><td>16,859</td><td>15,811</td><td>17,098</td><td>17,454</td></tr><tr><td>Retained earnings</td><td>21,363</td><td>19,501</td><td>22,403</td><td>19,884</td><td>16,574</td></tr><tr><td>Treasury stock, at cost</td><td>-172</td><td>-190</td><td>-236</td><td>-2,890</td><td>-1,357</td></tr><tr><td>Accumulated other comprehensive income (loss)</td><td>1,000</td><td>-3,058</td><td>-14,253</td><td>1,078</td><td>1,118</td></tr><tr><td>Total MetLife, Inc.’s stockholders’ equity</td><td>48,625</td><td>33,121</td><td>23,734</td><td>35,179</td><td>33,798</td></tr><tr><td>Noncontrolling interests</td><td>371</td><td>377</td><td>251</td><td>1,806</td><td>1,448</td></tr><tr><td>Total equity</td><td>48,996</td><td>33,498</td><td>23,985</td><td>36,985</td><td>35,246</td></tr><tr><td>Total liabilities and equity</td><td>$730,906</td><td>$539,314</td><td>$501,678</td><td>$559,149</td><td>$528,107</td></tr></table>
<table><tr><td></td><td colspan="5"> Years Ended December 31,</td></tr><tr><td></td><td> 2010</td><td> 2009</td><td> 2008</td><td> 2007</td><td> 2006</td></tr><tr><td></td><td colspan="5"> (In millions, except per share data)</td></tr><tr><td> Other Data -1, (4)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income (loss) available to MetLife, Inc.’s common shareholders</td><td>$2,668</td><td>$-2,368</td><td>$3,084</td><td>$4,180</td><td>$6,159</td></tr><tr><td>Return on MetLife, Inc.’s common equity</td><td>6.9%</td><td>-9.0%</td><td>11.2%</td><td>12.9%</td><td>20.9%</td></tr><tr><td>Return on MetLife, Inc.’s common equity, excluding accumulated other comprehensive income (loss)</td><td>7.0%</td><td>-6.8%</td><td>9.1%</td><td>13.3%</td><td>22.1%</td></tr><tr><td> EPS Data -1, (5)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income (Loss) from Continuing Operations Available to MetLife, Inc.’s Common Shareholders Per Common Share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$3.01</td><td>$-2.94</td><td>$4.60</td><td>$5.32</td><td>$3.64</td></tr><tr><td>Diluted</td><td>$2.99</td><td>$-2.94</td><td>$4.54</td><td>$5.19</td><td>$3.59</td></tr><tr><td>Income (Loss) from Discontinued Operations Per Common Share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$0.01</td><td>$0.05</td><td>$-0.41</td><td>$0.30</td><td>$4.45</td></tr><tr><td>Diluted</td><td>$0.01</td><td>$0.05</td><td>$-0.40</td><td>$0.29</td><td>$4.40</td></tr><tr><td>Net Income (Loss) Available to MetLife, Inc.’s Common Shareholders Per Common Share:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$3.02</td><td>$-2.89</td><td>$4.19</td><td>$5.62</td><td>$8.09</td></tr><tr><td>Diluted</td><td>$3.00</td><td>$-2.89</td><td>$4.14</td><td>$5.48</td><td>$7.99</td></tr><tr><td>Cash Dividends Declared Per Common Share</td><td>$0.74</td><td>$0.74</td><td>$0.74</td><td>$0.74</td><td>$0.59</td></tr></table>

Question: In what year is Policyholder liabilities and other policy-related balances -3 greater than 270000?
Answer: 2008 2009 2010