Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting Information, by Segment




Year Ended December 31, 2018	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	28,186		$	6,766		$	2,760		$	2,131		$	3,879		$	118		$	43,840		$	—		$	43,840
Universal life and investment-type product policy fees	1,053			1,630			1,050			431			1,218			—			5,382			120			5,502
Net investment income	6,977			3,317			1,239			293			5,379			178			17,383			(1,217		)	16,166
Other revenues	821			51			35			66			250			333			1,556			324			1,880
Net investment gains (losses)	—			—			—			—			—			—			—			(298		)	(298		)
Net derivative gains (losses)	—			—			—			—			—			—			—			851			851
Total revenues	37,037			11,764			5,084			2,921			10,726			629			68,161			(220		)	67,941
Expenses
Policyholder benefits and claims and policyholder dividends	27,765			5,326			2,602			1,127			6,833			80			43,733			174			43,907
Interest credited to policyholder account balances	1,790			1,465			394			100			944			—			4,693			(680		)	4,013
Capitalization of DAC	(449		)	(1,915		)	(377		)	(468		)	(36		)	(8		)	(3,253		)	(1		)	(3,254		)
Amortization of DAC and VOBA	477			1,302			209			434			332			6			2,760			215			2,975
Amortization of negative VOBA	—			(39		)	(1		)	(15		)	—			—			(55		)	(1		)	(56		)
Interest expense on debt	12			—			6			—			9			1,032			1,059			63			1,122
Other expenses	3,902			3,840			1,421			1,378			1,081			907			12,529			398			12,927
Total expenses	33,497			9,979			4,254			2,556			9,163			2,017			61,466			168			61,634
Provision for income tax expense (benefit)	736			548			238			88			308			(825		)	1,093			86			1,179
Adjusted earnings	$	2,804		$	1,237		$	592		$	277		$	1,255		$	(563	)	5,602
Adjustments to:
Total revenues																			(220		)
Total expenses																			(168		)
Provision for income tax (expense) benefit																			(86		)
Income (loss) from continuing operations, net of income tax																			$	5,128					$	5,128



At December 31, 2018	U.S.		Asia (1)		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total
	(In millions)
Total assets	$	248,174	$	146,278	$	70,417	$	27,829	$	166,872	$	27,968	$	687,538
Separate account assets	$	71,436	$	8,849	$	47,757	$	5,306	$	42,208	$	—	$	175,556
Separate account liabilities	$	71,436	$	8,849	$	47,757	$	5,306	$	42,208	$	—	$	175,556

__________________


(1)	Total assets includes $120.0 billion of assets from the Japan operations which represents 17% of total consolidated assets.




Year Ended December 31, 2017	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	23,632		$	6,755		$	2,693		$	2,061		$	4,144		$	54		$	39,339		$	(347	)	$	38,992
Universal life and investment-type product policy fees	1,012			1,584			1,044			405			1,361			1			5,407			103			5,510
Net investment income	6,396			2,985			1,219			309			5,607			28			16,544			819			17,363
Other revenues	806			43			32			58			244			271			1,454			(113		)	1,341
Net investment gains (losses)	—			—			—			—			—			—			—			(308		)	(308		)
Net derivative gains (losses)	—			—			—			—			—			—			—			(590		)	(590		)
Total revenues	31,846			11,367			4,988			2,833			11,356			354			62,744			(436		)	62,308
Expenses
Policyholder benefits and claims and policyholder dividends	23,627			5,075			2,535			1,077			7,000			26			39,340			204			39,544
Interest credited to policyholder account balances	1,474			1,351			369			100			1,018			1			4,313			1,294			5,607
Capitalization of DAC	(458		)	(1,710		)	(364		)	(414		)	(82		)	(8		)	(3,036		)	34			(3,002		)
Amortization of DAC and VOBA	459			1,300			224			357			302			6			2,648			33			2,681
Amortization of negative VOBA	—			(111		)	(1		)	(19		)	—			—			(131		)	(9		)	(140		)
Interest expense on debt	11			—			5			—			24			1,105			1,145			(16		)	1,129
Other expenses	3,682			3,613			1,479			1,376			1,365			894			12,409			544			12,953
Total expenses	28,795			9,518			4,247			2,477			9,627			2,024			56,688			2,084			58,772
Provision for income tax expense (benefit)	1,024			620			156			59			547			(688		)	1,718			(3,188		)	(1,470		)
Adjusted earnings	$	2,027		$	1,229		$	585		$	297		$	1,182		$	(982	)	4,338
Adjustments to:
Total revenues																			(436		)
Total expenses																			(2,084		)
Provision for income tax (expense) benefit																			3,188
Income (loss) from continuing operations, net of income tax																			$	5,006					$	5,006



At December 31, 2017	U.S.		Asia (1)		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total
	(In millions)
Total assets	$	255,428	$	136,928	$	79,670	$	30,500	$	183,160	$	34,206	$	719,892
Separate account assets	$	81,243	$	10,032	$	56,218	$	5,975	$	51,533	$	—	$	205,001
Separate account liabilities	$	81,243	$	10,032	$	56,218	$	5,975	$	51,533	$	—	$	205,001

__________________


(1)	Total assets includes $111.0 billion of assets from the Japan operations which represents 15% of total consolidated assets.




Year Ended December 31, 2016	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	21,501		$	6,902		$	2,529		$	2,027		$	4,506		$	40		$	37,505		$	(303	)	$	37,202
Universal life and investment-type product policy fees	989			1,488			1,025			391			1,436			2			5,331			152			5,483
Net investment income	6,206			2,707			1,084			318			5,944			178			16,437			353			16,790
Other revenues	784			61			34			73			581			110			1,643			42			1,685
Net investment gains (losses)	—			—			—			—			—			—			—			317			317
Net derivative gains (losses)	—			—			—			—			—			—			—			(690		)	(690		)
Total revenues	29,480			11,158			4,672			2,809			12,467			330			60,916			(129		)	60,787
Expenses
Policyholder benefits and claims and policyholder dividends	21,591			5,211			2,443			1,067			7,523			41			37,876			(295		)	37,581
Interest credited to policyholder account balances	1,302			1,298			328			112			1,042			6			4,088			1,088			5,176
Capitalization of DAC	(471		)	(1,668		)	(321		)	(403		)	(281		)	(7		)	(3,151		)	(1		)	(3,152		)
Amortization of DAC and VOBA	471			1,236			184			408			736			8			3,043			(325		)	2,718
Amortization of negative VOBA	—			(208		)	(1		)	(13		)	—			—			(222		)	(47		)	(269		)
Interest expense on debt	9			—			2			—			57			1,139			1,207			(50		)	1,157
Other expenses	3,706			3,586			1,336			1,323			2,392			597			12,940			355			13,295
Total expenses	26,608			9,455			3,971			2,494			11,469			1,784			55,781			725			56,506
Provision for income tax expense (benefit)	976			479			158			42			292			(948		)	999			(306		)	693
Adjusted earnings	$	1,896		$	1,224		$	543		$	273		$	706		$	(506	)	4,136
Adjustments to:
Total revenues																			(129		)
Total expenses																			(725		)
Provision for income tax (expense) benefit																			306
Income (loss) from continuing operations, net of income tax																			$	3,588					$	3,588

Revenue from External Customers by Products and Services

The following table presents total premiums, universal life and investment-type product policy fees and other revenues by major product groups of the Company’s segments, as well as Corporate & Other:



	Years Ended December 31,
	2018		2017		2016
	(In millions)
Life insurance	$	20,550	$	20,330	$	20,436
Accident & health insurance	14,489		14,002		14,128
Annuities	10,990		6,999		5,552
Property and casualty insurance	3,651		3,613		3,560
Other	1,542		899		694
Total	$	51,222	$	45,843	$	44,370

Revenue from External Customers by Geographic Areas

The following table presents total premiums, universal life and investment-type product policy fees and other revenues associated with the Company’s U.S. and foreign operations:



	Years Ended December 31,
	2018		2017		2016
	(In millions)
U.S.	$	36,078	$	30,971	$	29,166
Foreign:
Japan	6,435		6,444		7,089
Other	8,709		8,428		8,115
Total	$	51,222	$	45,843	$	44,370