Segment Information (Tables)

6 Months Ended

Jun. 30, 2020




Three Months Ended June 30, 2020	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	5,184		$	1,584		$	489		$	557		$	889		$	13		$	8,716		$	20		$	8,736
Universal life and investment-type product policy fees	268			420			238			92			249			1			1,268			31			1,299
Net investment income	1,425			767			260			63			981			(52		)	3,444			643			4,087
Other revenues	240			14			10			11			70			72			417			39			456
Net investment gains (losses)	—			—			—			—			—			—			—			231			231
Net derivative gains (losses)	—			—			—			—			—			—			—			(710		)	(710		)
Total revenues	7,117			2,785			997			723			2,189			34			13,845			254			14,099
Expenses
Policyholder benefits and claims and policyholder dividends	5,038			1,255			449			263			1,705			3			8,713			244			8,957
Interest credited to policyholder account balances	412			447			56			27			219			—			1,161			801			1,962
Capitalization of DAC	(122		)	(351		)	(74		)	(115		)	(5		)	(2		)	(669		)	(2		)	(671		)
Amortization of DAC and VOBA	115			284			70			85			11			3			568			(8		)	560
Amortization of negative VOBA	—			(8		)	—			(2		)	—			—			(10		)	—			(10		)
Interest expense on debt	2			—			1			—			1			228			232			—			232
Other expenses	1,012			797			307			328			239			134			2,817			55			2,872
Total expenses	6,457			2,424			809			586			2,170			366			12,812			1,090			13,902
Provision for income tax expense (benefit)	137			105			56			21			(1		)	(120		)	198			(151		)	47
Adjusted earnings	$	523		$	256		$	132		$	116		$	20		$	(212	)	835
Adjustments to:
Total revenues																			254
Total expenses																			(1,090		)
Provision for income tax (expense) benefit																			151
Net income (loss)																			$	150					$	150




Three Months Ended June 30, 2019	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	6,234		$	1,631		$	773		$	551		$	924		$	16		$	10,129		$	—		$	10,129
Universal life and investment-type product policy fees	274			419			280			105			286			—			1,364			48			1,412
Net investment income	1,795			944			360			73			1,338			44			4,554			139			4,693
Other revenues	223			13			11			13			65			82			407			71			478
Net investment gains (losses)	—			—			—			—			—			—			—			61			61
Net derivative gains (losses)	—			—			—			—			—			—			—			724			724
Total revenues	8,526			3,007			1,424			742			2,613			142			16,454			1,043			17,497
Expenses
Policyholder benefits and claims and policyholder dividends	6,101			1,279			790			292			1,703			18			10,183			112			10,295
Interest credited to policyholder account balances	504			424			86			23			227			—			1,264			251			1,515
Capitalization of DAC	(127		)	(472		)	(100		)	(126		)	(8		)	(4		)	(837		)	—			(837		)
Amortization of DAC and VOBA	117			312			79			107			80			2			697			(8		)	689
Amortization of negative VOBA	—			(7		)	—			(3		)	—			—			(10		)	—			(10		)
Interest expense on debt	3			—			1			—			2			268			274			—			274
Other expenses	1,009			955			352			350			237			289			3,192			82			3,274
Total expenses	7,607			2,491			1,208			643			2,241			573			14,763			437			15,200
Provision for income tax expense (benefit)	187			157			57			22			73			(181		)	315			236			551
Adjusted earnings	$	732		$	359		$	159		$	77		$	299		$	(250	)	1,376
Adjustments to:
Total revenues																			1,043
Total expenses																			(437		)
Provision for income tax (expense) benefit																			(236		)
Net income (loss)																			$	1,746					$	1,746




Six Months Ended June 30, 2020	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	10,858		$	3,220		$	1,129		$	1,125		$	1,793		$	25		$	18,150		$	52		$	18,202
Universal life and investment-type product policy fees	543			850			508			208			543			1			2,653			77			2,730
Net investment income	3,191			1,704			478			132			2,296			(36		)	7,765			(617		)	7,148
Other revenues	480			28			21			24			105			156			814			81			895
Net investment gains (losses)	—			—			—			—			—			—			—			(57		)	(57		)
Net derivative gains (losses)	—			—			—			—			—			—			—			3,491			3,491
Total revenues	15,072			5,802			2,136			1,489			4,737			146			29,382			3,027			32,409
Expenses
Policyholder benefits and claims and policyholder dividends	10,473			2,576			1,059			573			3,366			29			18,076			195			18,271
Interest credited to policyholder account balances	870			892			126			54			437			—			2,379			(337		)	2,042
Capitalization of DAC	(234		)	(772		)	(174		)	(245		)	(10		)	(5		)	(1,440		)	(5		)	(1,445		)
Amortization of DAC and VOBA	234			599			144			215			111			4			1,307			41			1,348
Amortization of negative VOBA	—			(16		)	—			(4		)	—			—			(20		)	—			(20		)
Interest expense on debt	4			—			2			—			3			445			454			—			454
Other expenses	2,078			1,671			652			660			467			270			5,798			121			5,919
Total expenses	13,425			4,950			1,809			1,253			4,374			743			26,554			15			26,569
Provision for income tax expense (benefit)	344			246			100			42			66			(286		)	512			777			1,289
Adjusted earnings	$	1,303		$	606		$	227		$	194		$	297		$	(311	)	2,316
Adjustments to:
Total revenues																			3,027
Total expenses																			(15		)
Provision for income tax (expense) benefit																			(777		)
Net income (loss)																			$	4,551					$	4,551




Six Months Ended June 30, 2019	U.S.			Asia			Latin America			EMEA			MetLife Holdings			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	11,801		$	3,330		$	1,419		$	1,093		$	1,851		$	40		$	19,534		$	—		$	19,534
Universal life and investment-type product policy fees	544			825			564			208			560			1			2,702			75			2,777
Net investment income	3,514			1,824			656			147			2,625			69			8,835			766			9,601
Other revenues	444			29			23			27			132			176			831			141			972
Net investment gains (losses)	—			—			—			—			—			—			—			76			76
Net derivative gains (losses)	—			—			—			—			—			—			—			839			839
Total revenues	16,303			6,008			2,662			1,475			5,168			286			31,902			1,897			33,799
Expenses
Policyholder benefits and claims and policyholder dividends	11,474			2,598			1,387			576			3,351			38			19,424			243			19,667
Interest credited to policyholder account balances	1,005			827			180			47			453			—			2,512			964			3,476
Capitalization of DAC	(241		)	(951		)	(194		)	(243		)	(14		)	(6		)	(1,649		)	—			(1,649		)
Amortization of DAC and VOBA	231			619			157			199			143			3			1,352			(39		)	1,313
Amortization of negative VOBA	—			(16		)	—			(4		)	—			—			(20		)	—			(20		)
Interest expense on debt	5			—			2			—			4			497			508			—			508
Other expenses	2,002			1,910			718			688			464			511			6,293			170			6,463
Total expenses	14,476			4,987			2,250			1,263			4,401			1,043			28,420			1,338			29,758
Provision for income tax expense (benefit)	371			306			119			49			151			(346		)	650			260			910
Adjusted earnings	$	1,456		$	715		$	293		$	163		$	616		$	(411	)	2,832
Adjustments to:
Total revenues																			1,897
Total expenses																			(1,338		)
Provision for income tax (expense) benefit																			(260		)
Net income (loss)																			$	3,131					$	3,131

The following table presents total assets with respect to the Company’s segments, as well as Corporate & Other, at: