Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting Information, by Segment




Year Ended December 31, 2019	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	26,801		$	6,632		$	2,723		$	2,177		$	3,748		$	83		$	42,164		$	71		$	42,235
Universal life and investment-type product policy fees	1,078			1,674			1,094			423			1,124			2			5,395			208			5,603
Net investment income	7,021			3,691			1,271			291			5,281			275			17,830			1,038			18,868
Other revenues	887			56			44			54			253			291			1,585			257			1,842
Net investment gains (losses)	—			—			—			—			—			—			—			444			444
Net derivative gains (losses)	—			—			—			—			—			—			—			628			628
Total revenues	35,787			12,053			5,132			2,945			10,406			651			66,974			2,646			69,620
Expenses
Policyholder benefits and claims and policyholder dividends	26,165			5,185			2,623			1,176			6,970			73			42,192			480			42,672
Interest credited to policyholder account balances	1,984			1,710			332			98			905			—			5,029			1,435			6,464
Capitalization of DAC	(484		)	(1,913		)	(396		)	(505		)	(28		)	(12		)	(3,338		)	(20		)	(3,358		)
Amortization of DAC and VOBA	475			1,288			291			428			299			6			2,787			109			2,896
Amortization of negative VOBA	—			(25		)	—			(8		)	—			—			(33		)	—			(33		)
Interest expense on debt	10			—			3			—			8			934			955			—			955
Other expenses	4,075			3,818			1,443			1,399			969			1,074			12,778			451			13,229
Total expenses	32,225			10,063			4,296			2,588			9,123			2,075			60,370			2,455			62,825
Provision for income tax expense (benefit)	724			585			227			75			249			(1,201		)	659			227			886
Adjusted earnings	$	2,838		$	1,405		$	609		$	282		$	1,034		$	(223	)	5,945
Adjustments to:
Total revenues																			2,646
Total expenses																			(2,455		)
Provision for income tax (expense) benefit																			(227		)
Income (loss) from continuing operations, net of income tax																			$	5,909					$	5,909



At December 31, 2019	U.S.		Asia (1)		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total
	(In millions)
Total assets	$	266,174	$	161,018	$	75,069	$	27,281	$	175,199	$	35,722	$	740,463
Separate account assets	$	75,929	$	9,250	$	52,018	$	5,639	$	45,609	$	—	$	188,445
Separate account liabilities	$	75,929	$	9,250	$	52,018	$	5,639	$	45,609	$	—	$	188,445

__________________


(1)	Total assets includes $134.0 billion of assets from the Japan operations which represents 18% of total consolidated assets.




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

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(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

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,
	2019		2018		2017
	(In millions)
Life insurance	$	20,759	$	20,550	$	20,330
Accident & health insurance	15,159		14,489		14,002
Annuities	8,590		10,990		6,999
Property and casualty insurance	3,716		3,651		3,613
Other	1,456		1,542		899
Total	$	49,680	$	51,222	$	45,843

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,
	2019		2018		2017
	(In millions)
U.S.	$	34,433	$	36,078	$	30,971
Foreign:
Japan	6,608		6,435		6,444
Other	8,639		8,709		8,428
Total	$	49,680	$	51,222	$	45,843