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

12 Months Ended

Dec. 31, 2021

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,
	2021		2020		2019
	(In millions)
DAC:
Balance at January 1,	$	13,446	$	14,790	$	15,570
Capitalizations	2,718		3,013		3,358
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(100)		(152)		(117)
Other expenses	(2,268)		(2,773)		(2,534)
Total amortization	(2,368)		(2,925)		(2,651)
Unrealized investment gains (losses)	811		(1,312)		(1,461)
Effect of foreign currency translation and other	(861)		76		(26)
Reclassified to assets held-for-sale (1)	(103)		(196)		—
Balance at December 31,	13,643		13,446		14,790
VOBA:
Balance at January 1,	2,943		3,043		3,325
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	—		(2)		—
Other expenses	(187)		(233)		(245)
Total amortization	(187)		(235)		(245)
Unrealized investment gains (losses)	11		(4)		(4)
Effect of foreign currency translation and other	(314)		139		(33)
Reclassified to assets held-for-sale (1)	(35)		—		—
Balance at December 31,	2,418		2,943		3,043
Total DAC and VOBA:
Balance at December 31,	$	16,061	$	16,389	$	17,833

__________________

(1)See Note 3 for information on the Company’s dispositions.

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:

	Years Ended December 31,
	2021		2020		2019
	(In millions)
DAC:
Balance at January 1,	$	13,446	$	14,790	$	15,570
Capitalizations	2,718		3,013		3,358
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	(100)		(152)		(117)
Other expenses	(2,268)		(2,773)		(2,534)
Total amortization	(2,368)		(2,925)		(2,651)
Unrealized investment gains (losses)	811		(1,312)		(1,461)
Effect of foreign currency translation and other	(861)		76		(26)
Reclassified to assets held-for-sale (1)	(103)		(196)		—
Balance at December 31,	13,643		13,446		14,790
VOBA:
Balance at January 1,	2,943		3,043		3,325
Amortization related to:
Net investment gains (losses) and net derivative gains (losses)	—		(2)		—
Other expenses	(187)		(233)		(245)
Total amortization	(187)		(235)		(245)
Unrealized investment gains (losses)	11		(4)		(4)
Effect of foreign currency translation and other	(314)		139		(33)
Reclassified to assets held-for-sale (1)	(35)		—		—
Balance at December 31,	2,418		2,943		3,043
Total DAC and VOBA:
Balance at December 31,	$	16,061	$	16,389	$	17,833

__________________

(1)See Note 3 for information on the Company’s dispositions.

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,
	2021		2020
	(In millions)
U.S.	$	440	$	434
Asia	9,339		9,333
Latin America	2,021		2,092
EMEA	1,623		1,787
MetLife Holdings	2,607		2,712
Corporate & Other	31		31
Total	$	16,061	$	16,389

Deferred Sales Inducements of Business Acquired

Information regarding other intangibles was as follows:

	Years Ended December 31,
	2021		2020		2019
	(In millions)
DSI:
Balance at January 1,	$	108	$	158	$	210
Capitalization	—		6		7
Amortization	(14)		(37)		(39)
Unrealized investment gains (losses)	20		(18)		(20)
Effect of foreign currency translation and other	(7)		(1)		—
Balance at December 31,	$	107	$	108	$	158
VODA and VOCRA:
Balance at January 1,	$	1,099	$	335	$	384
Acquisitions (1)	—		814		—
Amortization	(100)		(41)		(42)
Effect of foreign currency translation and other	(27)		(9)		(7)
Balance at December 31,	$	972	$	1,099	$	335
Accumulated amortization	$	575	$	475	$	434
Negative VOBA:
Balance at January 1,	$	738	$	750	$	779
Amortization	(34)		(45)		(33)
Effect of foreign currency translation and other	(81)		33		4
Balance at December 31,	$	623	$	738	$	750
Accumulated amortization	$	3,342	$	3,308	$	3,263

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(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,
	2021		2020		2019
	(In millions)
DSI:
Balance at January 1,	$	108	$	158	$	210
Capitalization	—		6		7
Amortization	(14)		(37)		(39)
Unrealized investment gains (losses)	20		(18)		(20)
Effect of foreign currency translation and other	(7)		(1)		—
Balance at December 31,	$	107	$	108	$	158
VODA and VOCRA:
Balance at January 1,	$	1,099	$	335	$	384
Acquisitions (1)	—		814		—
Amortization	(100)		(41)		(42)
Effect of foreign currency translation and other	(27)		(9)		(7)
Balance at December 31,	$	972	$	1,099	$	335
Accumulated amortization	$	575	$	475	$	434
Negative VOBA:
Balance at January 1,	$	738	$	750	$	779
Amortization	(34)		(45)		(33)
Effect of foreign currency translation and other	(81)		33		4
Balance at December 31,	$	623	$	738	$	750
Accumulated amortization	$	3,342	$	3,308	$	3,263

__________________

(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)
2022	$	185	$	90	$	(35)
2023	$	180	$	87	$	(34)
2024	$	177	$	85	$	(32)
2025	$	166	$	83	$	(31)
2026	$	150	$	81	$	(29)