Issuer Purchases of Equity Securities The following table provides information about our repurchases of common stock during the three-month period ended December 31, 2012.
## Table 0 ##
(a) We repurchased a total of 3.1 million shares of our common stock for $286 million during the quarter ended December 31, 2012 under a share repurchase program that we announced in October 2010.
(b) Our Board of Directors has approved a share repurchase program for the repurchase of our common stock from time-to-time, authorizing an amount available for share repurchases of $6.5 billion.
Under the program, management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation.
The program does not have an expiration date.
As of December 31, 2012, we had repurchased a total of 54.3 million shares under the program for $4.2 billion.
MetLife, Inc.  Notes to Consolidated Financial Statements — (Continued) Gross benefit payments for the next ten years, which reflect expected future service where appropriate, and gross subsidies to be received under the Prescription Drug Act are expected to be as follows:
## Table 1 ##
Savings and Investment Plans The Subsidiaries sponsor savings and investment plans for substantially all employees under which a portion of employee contributions are matched.
The Subsidiaries contributed $79 million, $82 million and $78 million for the years ended December 31, 2007, 2006 and 2005, respectively.18.
Equity Preferred Stock Issuances In September 1999, the Holding Company adopted a stockholder rights plan (the “rights plan”) under which each outstanding share of common stock issued between April 4, 2000 and the distribution date (as defined in the rights plan) will be coupled with a stockholder right.
Each right will entitle the holder to purchase one one-hundredth of a share of Series A Junior Participating Preferred Stock.
Each one onehundredth of a share of Series A Junior Participating Preferred Stock will have economic and voting terms equivalent to one share of common stock.
Until it is exercised, the right itself will not entitle the holder thereof to any rights as a stockholder, including the right to receive dividends or to vote at stockholder meetings.
Stockholder rights are not exercisable until the distribution date, and will expire at the close of business on April 4, 2010, unless earlier redeemed or exchanged by the Holding Company.
The rights plan is designed to protect stockholders in the event of unsolicited offers to acquire the Holding Company and other coercive takeover tactics.
In connection with financing the acquisition of Travelers on July 1, 2005, which is described in Note 2, the Holding Company issued preferred shares as follows: In June 2005, the Holding Company issued 24 million shares of Floating Rate Non-Cumulative Preferred Stock, Series A (the “Series A preferred shares”) with a $0.01 par value per share, and a liquidation preference of $25 per share, for aggregate proceeds of $600 million.
In June 2005, the Holding Company issued 60 million shares of 6.50% Non-Cumulative Preferred Stock, Series B (the “Series B preferred shares”), with a $0.01 par value per share, and a liquidation preference of $25 per share, for aggregate proceeds of $1.5 billion.
The Series A and Series B preferred shares (the “Preferred Shares”) rank senior to the common stock with respect to dividends and liquidation rights.
Dividends on the Preferred Shares are not cumulative.
Holders of the Preferred Shares will be entitled to receive dividend payments only when, as and if declared by the Holding Company’s Board of Directors or a duly authorized committee of the board.
If dividends are declared on the Series A preferred shares, they will be payable quarterly, in arrears, at an annual rate of the greater of: (i) 1.00% above 3-month LIBOR on the related LIBOR determination date; or (ii) 4.00%.
Any dividends declared on the Series B preferred shares will be payable quarterly, in arrears, at an annual fixed rate of 6.50%.
Accordingly, in the event that dividends are not declared on the Preferred Shares for payment on any dividend payment date, then those dividends will cease to accrue and be payable.
If a dividend is not declared before the dividend payment date, the Holding Company has no obligation to pay dividends accrued for that dividend period whether or not dividends are declared and paid in future periods.
No dividends may, however, be paid or declared on the Holding Company’s common stock — or any other securities ranking junior to the Preferred Shares — unless the full dividends for the latest completed dividend period on all Preferred Shares, and any parity stock, have been declared and paid or provided for.
The Holding Company is prohibited from declaring dividends on the Preferred Shares if it fails to meet specified capital adequacy, net income and shareholders’ equity levels.
In addition, under Federal Reserve Board policy, the Holding Company may not be able to pay dividends if it does not earn sufficient operating income.
The Preferred Shares do not have voting rights except in certain circumstances where the dividends have not been paid for an equivalent of six or more dividend payment periods whether or not those periods are consecutive.
Under such circumstances, the holders of the Preferred Shares have certain voting rights with respect to members of the Board of Directors of the Holding Company.
The Preferred Shares are not subject to any mandatory redemption, sinking fund, retirement fund, purchase fund or similar provisions.
The Preferred Shares are redeemable, but not prior to September 15, 2010.
On and after that date, subject to regulatory approval, the Preferred Shares will be redeemable at the Holding Company’s option in whole or in part, at a redemption price of $25 per Preferred Share, plus declared and unpaid dividends.
In connection with the offering of the Preferred Shares, the Holding Company incurred $56.8 million of issuance costs which have been recorded as a reduction of additional paid-in capital.
The following table presents the changes in valuation allowances for consumer loans for the:
## Table 2 ##
Real Estate Holdings The Company’s real estate holdings consist of commercial properties located primarily in the United States.
At December 31, 2007 and 2006, the carrying value of the Company’s real estate, real estate joint ventures and real estate held-for-sale was $6.8 billion and $5.0 billion, respectively, or 2.0% and 1.5%, of total cash and invested assets, respectively.
The carrying value of real estate is stated at depreciated cost net of impairments and valuation allowances.
The carrying value of real estate joint ventures is stated at the Company’s equity in the real estate joint ventures net of impairments and valuation allowances.
The following table presents the carrying value of the Company’s real estate holdings at:
## Table 3 ##
The Company’s carrying value of real estate held-for-sale of $172 million and $184 million at December 31, 2007 and 2006, respectively, have been reduced by impairments of $1 million and $17 million at December 31, 2007 and 2006, respectively.
The Company records real estate acquired upon foreclosure of commercial and agricultural mortgage loans at the lower of estimated fair value or the carrying value of the mortgage loan at the date of foreclosure.
Real estate holdings were categorized as follows:
## Table 4 ##
The Company’s real estate holdings are primarily located in the United States.
At December 31, 2007, 22%, 11%, 10% and 9% of the Company’s real estate holdings were located in California, New York, Florida and Texas, respectively.
Certain of the Company’s investments in real estate joint ventures meet the definition of a VIE under FIN 46(r).
See “— Composition of Investment Portfolio Results — Variable Interest Entities.
” In the fourth quarter of 2006, the Company sold its Peter Cooper Village and Stuyvesant Town properties located in Manhattan, New York for $5.4 billion.
The Peter Cooper Village and Stuyvesant Town properties together make up the largest apartment complex in Manhattan, New York totaling over 11,000 units, spread over 80 contiguous acres.
The properties were owned by the Holding Company’s subsidiary, Metropolitan Tower Life Insurance Company.
The sale resulted in a gain of $3 billion, net of income tax, and is included in income from discontinued operations in the consolidated statements of income.
In the second quarter of 2005, the Company sold its One Madison Avenue and 200 Park Avenue properties in Manhattan, New York for $918 million and $1.72 billion, respectively, resulting in gains, net of income tax, of $431 million and $762 million, respectively, and is included in income from discontinued operations in the consolidated statements of income.
In connection with the sale of the 200 Park

Tables referenced above, in order (Table 0 first):
<table><tr><td>Period</td><td>Total Number of Shares Purchased</td><td>Average Price Paid Per Share</td><td>Total Number of Shares Purchased as Part of Publicly Announced Program<sup>(</sup><sup>a</sup><sup>)</sup></td><td>Amount Available for Future Share Repurchases Under the Program<sup>(</sup><sup>b</sup><sup>)</sup> (in millions)</td></tr><tr><td>October 1, 2012 – October 28, 2012</td><td>842,445</td><td>$93.38</td><td>842,445</td><td>$2,522</td></tr><tr><td>October 29, 2012 – November 25, 2012</td><td>872,973</td><td>90.86</td><td>872,973</td><td>2,443</td></tr><tr><td>November 26, 2012 – December 31, 2012</td><td>1,395,288</td><td>92.02</td><td>1,395,288</td><td>2,315</td></tr><tr><td>Total</td><td>3,110,706</td><td>$92.07</td><td>3,110,706</td><td>$2,315</td></tr></table>
<table><tr><td></td><td></td><td colspan="3"> Other Postretirement Benefits</td></tr><tr><td></td><td> Pension   Benefits</td><td> Gross</td><td> Prescription   Drug Subsidies</td><td> Net</td></tr><tr><td></td><td></td><td colspan="2"> (In millions)</td><td></td></tr><tr><td>2008</td><td>$360</td><td>$116</td><td>$-14</td><td>$102</td></tr><tr><td>2009</td><td>$373</td><td>$120</td><td>$-15</td><td>$105</td></tr><tr><td>2010</td><td>$383</td><td>$124</td><td>$-16</td><td>$109</td></tr><tr><td>2011</td><td>$397</td><td>$129</td><td>$-16</td><td>$113</td></tr><tr><td>2012</td><td>$413</td><td>$132</td><td>$-17</td><td>$115</td></tr><tr><td>2013-2017</td><td>$2,288</td><td>$713</td><td>$-100</td><td>$613</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2007</td><td>2006</td><td>2005</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Balance, beginning of period</td><td>$11</td><td>$15</td><td>$1</td></tr><tr><td>Additions</td><td>—</td><td>—</td><td>17</td></tr><tr><td>Deductions</td><td>-5</td><td>-4</td><td>-3</td></tr><tr><td>Balance, end of period</td><td>$6</td><td>$11</td><td>$15</td></tr></table>
<table><tr><td></td><td colspan="2">December 31, 2007</td><td colspan="2"> December 31, 2006</td></tr><tr><td> Type</td><td> Carrying   Value</td><td>% of Total</td><td> Carrying   Value</td><td> % of   Total</td></tr><tr><td></td><td colspan="4"> (In millions)</td></tr><tr><td>Real estate</td><td>$3,823</td><td>56.5%</td><td>$3,322</td><td>66.6%</td></tr><tr><td>Real estate joint ventures</td><td>2,771</td><td>40.9</td><td>1,477</td><td>29.6</td></tr><tr><td>Foreclosed real estate</td><td>3</td><td>0.1</td><td>3</td><td>0.1</td></tr><tr><td></td><td>6,597</td><td>97.5</td><td>4,802</td><td>96.3</td></tr><tr><td>Real estate held-for-sale</td><td>172</td><td>2.5</td><td>184</td><td>3.7</td></tr><tr><td>Total real estate holdings</td><td>$6,769</td><td>100.0%</td><td>$4,986</td><td>100.0%</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31,</td></tr><tr><td></td><td colspan="2">2007</td><td colspan="2"> 2006</td></tr><tr><td></td><td> Amount</td><td>Percent</td><td> Amount</td><td> Percent</td></tr><tr><td></td><td colspan="4"> (In millions)</td></tr><tr><td>Office</td><td>$3,126</td><td>46%</td><td>$2,709</td><td>55%</td></tr><tr><td>Apartments</td><td>1,264</td><td>19</td><td>739</td><td>15</td></tr><tr><td>Development joint ventures</td><td>743</td><td>11</td><td>169</td><td>3</td></tr><tr><td>Retail</td><td>574</td><td>8</td><td>513</td><td>10</td></tr><tr><td>Real estate investment funds</td><td>516</td><td>8</td><td>401</td><td>8</td></tr><tr><td>Industrial</td><td>283</td><td>4</td><td>291</td><td>6</td></tr><tr><td>Land</td><td>174</td><td>3</td><td>71</td><td>1</td></tr><tr><td>Agriculture</td><td>29</td><td>—</td><td>32</td><td>1</td></tr><tr><td>Other</td><td>60</td><td>1</td><td>61</td><td>1</td></tr><tr><td>Total real estate holdings</td><td>$6,769</td><td>100%</td><td>$4,986</td><td>100%</td></tr></table>

Question: Which year is the Carrying Value for Real estate on December 31 greater than 3600 million ?
Answer: 2007