Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Three Months Ended September 30, 2021	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	5,746	$	1,594	$	705	$	532	$	805	$	16	$	9,398	$	57	$	9,455
Universal life and investment-type product policy fees	279		477		274		128		279		—		1,437		84		1,521
Net investment income	2,098		1,354		306		46		1,771		93		5,668		(100)		5,568
Other revenues	383		17		9		10		57		108		584		79		663
Net investment gains (losses)	—		—		—		—		—		—		—		(84)		(84)
Net derivative gains (losses)	—		—		—		—		—		—		—		(218)		(218)
Total revenues	8,506		3,442		1,294		716		2,912		217		17,087		(182)		16,905
Expenses
Policyholder benefits and claims and policyholder dividends	6,118		1,220		885		268		1,611		9		10,111		181		10,292
Interest credited to policyholder account balances	362		513		63		17		212		—		1,167		120		1,287
Capitalization of DAC	(17)		(373)		(109)		(110)		(8)		(3)		(620)		(15)		(635)
Amortization of DAC and VOBA	26		470		62		118		80		2		758		58		816
Amortization of negative VOBA	—		(5)		—		(1)		—		—		(6)		—		(6)
Interest expense on debt	1		—		2		—		1		236		240		—		240
Other expenses	886		811		363		308		255		137		2,760		109		2,869
Total expenses	7,376		2,636		1,266		600		2,151		381		14,410		453		14,863
Provision for income tax expense (benefit)	235		237		(1)		22		155		(96)		552		(99)		453
Adjusted earnings	$	895	$	569	$	29	$	94	$	606	$	(68)	2,125
Adjustments to:
Total revenues													(182)
Total expenses													(453)
Provision for income tax (expense) benefit													99
Net income (loss)													$	1,589			$	1,589

Three Months Ended September 30, 2020	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	6,333	$	1,654	$	529	$	551	$	876	$	(8)	$	9,935	$	—	$	9,935
Universal life and investment-type product policy fees	263		595		225		116		269		1		1,469		28		1,497
Net investment income	1,827		1,088		221		67		1,427		58		4,688		41		4,729
Other revenues	237		16		7		13		61		82		416		39		455
Net investment gains (losses)	—		—		—		—		—		—		—		(20)		(20)
Net derivative gains (losses)	—		—		—		—		—		—		—		(581)		(581)
Total revenues	8,660		3,353		982		747		2,633		133		16,508		(493)		16,015
Expenses
Policyholder benefits and claims and policyholder dividends	6,108		1,291		575		304		1,697		(6)		9,969		237		10,206
Interest credited to policyholder account balances	381		470		52		29		217		—		1,149		267		1,416
Capitalization of DAC	(119)		(431)		(84)		(122)		(5)		(3)		(764)		—		(764)
Amortization of DAC and VOBA	123		506		62		125		177		2		995		71		1,066
Amortization of negative VOBA	—		(14)		—		(1)		—		—		(15)		—		(15)
Interest expense on debt	2		—		1		—		2		224		229		—		229
Other expenses	1,026		869		313		340		231		120		2,899		55		2,954
Total expenses	7,521		2,691		919		675		2,319		337		14,462		630		15,092
Provision for income tax expense (benefit)	239		197		24		20		61		(132)		409		(195)		214
Adjusted earnings	$	900	$	465	$	39	$	52	$	253	$	(72)	1,637
Adjustments to:
Total revenues													(493)
Total expenses													(630)
Provision for income tax (expense) benefit													195
Net income (loss)													$	709			$	709

Nine Months Ended September 30, 2021	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	16,919	$	4,861	$	1,936	$	1,751	$	2,471	$	54	$	27,992	$	922	$	28,914
Universal life and investment-type product policy fees	858		1,371		831		302		826		1		4,189		145		4,334
Net investment income	6,106		3,776		913		171		4,960		153		16,079		83		16,162
Other revenues	1,159		54		30		39		188		303		1,773		185		1,958
Net investment gains (losses)	—		—		—		—		—		—		—		1,655		1,655
Net derivative gains (losses)	—		—		—		—		—		—		—		(2,032)		(2,032)
Total revenues	25,042		10,062		3,710		2,263		8,445		511		50,033		958		50,991
Expenses
Policyholder benefits and claims and policyholder dividends	17,999		3,750		2,370		944		4,683		36		29,782		921		30,703
Interest credited to policyholder account balances	1,080		1,498		182		66		632		—		3,458		695		4,153
Capitalization of DAC	(48)		(1,203)		(304)		(359)		(25)		(9)		(1,948)		(104)		(2,052)
Amortization of DAC and VOBA	50		1,080		205		274		190		7		1,806		137		1,943
Amortization of negative VOBA	—		(20)		—		(5)		—		—		(25)		—		(25)
Interest expense on debt	4		—		4		—		4		683		695		1		696
Other expenses	2,695		2,542		1,041		1,006		752		278		8,314		439		8,753
Total expenses	21,780		7,647		3,498		1,926		6,236		995		42,082		2,089		44,171
Provision for income tax expense (benefit)	681		703		46		78		449		(288)		1,669		(213)		1,456
Adjusted earnings	$	2,581	$	1,712	$	166	$	259	$	1,760	$	(196)	6,282
Adjustments to:
Total revenues													958
Total expenses													(2,089)
Provision for income tax (expense) benefit													213
Net income (loss)													$	5,364			$	5,364

Nine Months Ended September 30, 2020	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	17,191	$	4,874	$	1,658	$	1,676	$	2,669	$	17	$	28,085	$	52	$	28,137
Universal life and investment-type product policy fees	806		1,445		733		324		812		2		4,122		105		4,227
Net investment income	5,018		2,792		699		199		3,723		22		12,453		(576)		11,877
Other revenues	717		44		28		37		166		238		1,230		120		1,350
Net investment gains (losses)	—		—		—		—		—		—		—		(77)		(77)
Net derivative gains (losses)	—		—		—		—		—		—		—		2,910		2,910
Total revenues	23,732		9,155		3,118		2,236		7,370		279		45,890		2,534		48,424
Expenses
Policyholder benefits and claims and policyholder dividends	16,581		3,867		1,634		877		5,063		23		28,045		432		28,477
Interest credited to policyholder account balances	1,251		1,362		178		83		654		—		3,528		(70)		3,458
Capitalization of DAC	(353)		(1,203)		(258)		(367)		(15)		(8)		(2,204)		(5)		(2,209)
Amortization of DAC and VOBA	357		1,105		206		340		288		6		2,302		112		2,414
Amortization of negative VOBA	—		(30)		—		(5)		—		—		(35)		—		(35)
Interest expense on debt	6		—		3		—		5		669		683		—		683
Other expenses	3,104		2,540		965		1,000		698		390		8,697		176		8,873
Total expenses	20,946		7,641		2,728		1,928		6,693		1,080		41,016		645		41,661
Provision for income tax expense (benefit)	583		443		124		62		127		(418)		921		582		1,503
Adjusted earnings	$	2,203	$	1,071	$	266	$	246	$	550	$	(383)	3,953
Adjustments to:
Total revenues													2,534
Total expenses													(645)
Provision for income tax (expense) benefit													(582)
Net income (loss)													$	5,260			$	5,260

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

	September 30, 2021		December 31, 2020
	(In millions)
U.S.	$	282,606	$	291,483
Asia	169,699		173,884
Latin America	60,592		75,047
EMEA	27,523		28,372
MetLife Holdings	180,239		184,566
Corporate & Other	41,005		41,794
Total	$	761,664	$	795,146