Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:

	Years Ended December 31,
	2020		2019		2018
	(In millions)
DAC:
Balance at January 1,	$	14,790	$	15,570	$	14,789
Capitalizations	3,013		3,358		3,254
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(152)		(117)		(109)
Other expenses	(2,773)		(2,534)		(2,599)
Total amortization	(2,925)		(2,651)		(2,708)
Unrealized investment gains (losses)	(1,312)		(1,461)		511
Effect of foreign currency translation and other	76		(26)		(276)
Reclassified to assets held-for-sale (1)	(196)		—		—
Balance at December 31,	13,446		14,790		15,570
VOBA:
Balance at January 1,	3,043		3,325		3,630
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(2)		—		—
Other expenses	(233)		(245)		(267)
Total amortization	(235)		(245)		(267)
Unrealized investment gains (losses)	(4)		(4)		10
Effect of foreign currency translation and other	139		(33)		(48)
Balance at December 31,	2,943		3,043		3,325
Total DAC and VOBA:
Balance at December 31,	$	16,389	$	17,833	$	18,895

__________________

(1)See Note 3 for information on the pending disposition of MetLife P&C.

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:

	Years Ended December 31,
	2020		2019		2018
	(In millions)
DAC:
Balance at January 1,	$	14,790	$	15,570	$	14,789
Capitalizations	3,013		3,358		3,254
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(152)		(117)		(109)
Other expenses	(2,773)		(2,534)		(2,599)
Total amortization	(2,925)		(2,651)		(2,708)
Unrealized investment gains (losses)	(1,312)		(1,461)		511
Effect of foreign currency translation and other	76		(26)		(276)
Reclassified to assets held-for-sale (1)	(196)		—		—
Balance at December 31,	13,446		14,790		15,570
VOBA:
Balance at January 1,	3,043		3,325		3,630
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(2)		—		—
Other expenses	(233)		(245)		(267)
Total amortization	(235)		(245)		(267)
Unrealized investment gains (losses)	(4)		(4)		10
Effect of foreign currency translation and other	139		(33)		(48)
Balance at December 31,	2,943		3,043		3,325
Total DAC and VOBA:
Balance at December 31,	$	16,389	$	17,833	$	18,895

__________________

(1)See Note 3 for information on the pending disposition of MetLife P&C.

Information regarding Deferred Policy Acquisition Costs and Value of Business Acquired by Segment

Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:

	December 31,
	2020		2019
	(In millions)
U.S.	$	434	$	649
Asia	9,333		9,764
Latin America	2,092		2,038
EMEA	1,787		1,701
MetLife Holdings	2,712		3,656
Corporate & Other	31		25
Total	$	16,389	$	17,833

Deferred Sales Inducements of Business Acquired

Information regarding other intangibles was as follows:

	Years Ended December 31,
	2020		2019		2018
	(In millions)
DSI:
Balance at January 1,	$	158	$	210	$	220
Capitalization	6		7		7
Amortization	(37)		(39)		(33)
Unrealized investment gains (losses)	(18)		(20)		16
Effect of foreign currency translation	(1)		—		—
Balance at December 31,	$	108	$	158	$	210
VODA and VOCRA:
Balance at January 1,	$	335	$	384	$	459
Acquisitions (1)	814		—		—
Amortization	(41)		(42)		(47)
Effect of foreign currency translation	(9)		(7)		(28)
Balance at December 31,	$	1,099	$	335	$	384
Accumulated amortization	$	475	$	434	$	392
Negative VOBA:
Balance at January 1,	$	750	$	779	$	827
Amortization	(45)		(33)		(56)
Effect of foreign currency translation and other	33		4		8
Balance at December 31,	$	738	$	750	$	779
Accumulated amortization	$	3,308	$	3,263	$	3,230

__________________

(1)Primarily related to the acquisition of Versant Health. See Note 3.

Value of Distribution Agreements and Customer Relationships Acquired and Negative Value of Business Acquired

Information regarding other intangibles was as follows:

	Years Ended December 31,
	2020		2019		2018
	(In millions)
DSI:
Balance at January 1,	$	158	$	210	$	220
Capitalization	6		7		7
Amortization	(37)		(39)		(33)
Unrealized investment gains (losses)	(18)		(20)		16
Effect of foreign currency translation	(1)		—		—
Balance at December 31,	$	108	$	158	$	210
VODA and VOCRA:
Balance at January 1,	$	335	$	384	$	459
Acquisitions (1)	814		—		—
Amortization	(41)		(42)		(47)
Effect of foreign currency translation	(9)		(7)		(28)
Balance at December 31,	$	1,099	$	335	$	384
Accumulated amortization	$	475	$	434	$	392
Negative VOBA:
Balance at January 1,	$	750	$	779	$	827
Amortization	(45)		(33)		(56)
Effect of foreign currency translation and other	33		4		8
Balance at December 31,	$	738	$	750	$	779
Accumulated amortization	$	3,308	$	3,263	$	3,230

__________________

(1)Primarily related to the acquisition of Versant Health. See Note 3.

Estimated Future Amortization Expense (Credit)

The estimated future amortization expense (credit) to be reported in other expenses for the next five years is as follows:

	VOBA		VODA and VOCRA		Negative VOBA
	(In millions)
2021	$	221	$	94	$	(42)
2022	$	215	$	88	$	(39)
2023	$	205	$	85	$	(38)
2024	$	200	$	82	$	(36)
2025	$	187	$	81	$	(35)