Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Three Months Ended June 30, 2022	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	8,254	$	1,395	$	826	$	492	$	760	$	(6)	$	11,721	$	—	$	11,721
Universal life and investment-type product policy fees	284		498		296		86		339		2		1,505		11		1,516
Net investment income	1,710		1,012		459		38		1,280		5		4,504		(921)		3,583
Other revenues	405		24		10		8		23		98		568		48		616
Net investment gains (losses)	—		—		—		—		—		—		—		(685)		(685)
Net derivative gains (losses)	—		—		—		—		—		—		—		(1,195)		(1,195)
Total revenues	10,653		2,929		1,591		624		2,402		99		18,298		(2,742)		15,556
Expenses
Policyholder benefits and claims and policyholder dividends	8,320		1,185		811		237		1,433		(2)		11,984		(1)		11,983
Interest credited to policyholder account balances	387		493		84		20		203		—		1,187		(695)		492
Capitalization of DAC	(14)		(370)		(120)		(108)		(8)		(2)		(622)		—		(622)
Amortization of DAC and VOBA	14		321		90		95		74		2		596		20		616
Amortization of negative VOBA	—		(8)		—		(2)		—		—		(10)		—		(10)
Interest expense on debt	1		—		4		—		2		219		226		—		226
Other expenses	949		763		370		298		242		184		2,806		67		2,873
Total expenses	9,657		2,384		1,239		540		1,946		401		16,167		(609)		15,558
Provision for income tax expense (benefit)	208		159		85		20		92		(88)		476		(616)		(140)
Adjusted earnings	$	788	$	386	$	267	$	64	$	364	$	(214)	1,655
Adjustments to:
Total revenues													(2,742)
Total expenses													609
Provision for income tax (expense) benefit													616
Net income (loss)													$	138			$	138

Three Months Ended June 30, 2021	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	5,474	$	1,582	$	636	$	621	$	839	$	(20)	$	9,132	$	—	$	9,132
Universal life and investment-type product policy fees	282		436		287		107		273		1		1,386		36		1,422
Net investment income	1,998		1,158		308		62		1,543		48		5,117		163		5,280
Other revenues	380		19		11		16		69		109		604		60		664
Net investment gains (losses)	—		—		—		—		—		—		—		1,605		1,605
Net derivative gains (losses)	—		—		—		—		—		—		—		421		421
Total revenues	8,134		3,195		1,242		806		2,724		138		16,239		2,285		18,524
Expenses
Policyholder benefits and claims and policyholder dividends	5,739		1,233		724		333		1,549		(13)		9,565		76		9,641
Interest credited to policyholder account balances	359		496		60		25		210		—		1,150		365		1,515
Capitalization of DAC	(13)		(395)		(100)		(122)		(9)		(3)		(642)		—		(642)
Amortization of DAC and VOBA	8		296		83		94		56		3		540		(3)		537
Amortization of negative VOBA	—		(8)		—		(2)		—		—		(10)		—		(10)
Interest expense on debt	2		—		1		—		2		223		228		—		228
Other expenses	898		832		343		349		244		34		2,700		68		2,768
Total expenses	6,993		2,454		1,111		677		2,052		244		13,531		506		14,037
Provision for income tax expense (benefit)	239		221		34		35		136		(81)		584		491		1,075
Adjusted earnings	$	902	$	520	$	97	$	94	$	536	$	(25)	2,124
Adjustments to:
Total revenues													2,285
Total expenses													(506)
Provision for income tax (expense) benefit													(491)
Net income (loss)													$	3,412			$	3,412

Six Months Ended June 30, 2022	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	15,418	$	2,948	$	1,558	$	1,001	$	1,536	$	(10)	$	22,451	$	41	$	22,492
Universal life and investment-type product policy fees	581		946		586		174		608		2		2,897		37		2,934
Net investment income	3,584		2,254		781		79		2,689		109		9,496		(1,629)		7,867
Other revenues	831		45		19		17		67		199		1,178		98		1,276
Net investment gains (losses)	—		—		—		—		—		—		—		(1,203)		(1,203)
Net derivative gains (losses)	—		—		—		—		—		—		—		(2,054)		(2,054)
Total revenues	20,414		6,193		2,944		1,271		4,900		300		36,022		(4,710)		31,312
Expenses
Policyholder benefits and claims and policyholder dividends	15,886		2,413		1,580		519		2,951		(9)		23,340		34		23,374
Interest credited to policyholder account balances	734		991		152		37		405		—		2,319		(1,197)		1,122
Capitalization of DAC	(37)		(762)		(233)		(209)		(15)		(5)		(1,261)		(11)		(1,272)
Amortization of DAC and VOBA	28		609		170		181		150		4		1,142		11		1,153
Amortization of negative VOBA	—		(16)		—		(3)		—		—		(19)		—		(19)
Interest expense on debt	3		—		7		—		3		438		451		—		451
Other expenses	1,928		1,600		724		594		478		320		5,644		146		5,790
Total expenses	18,542		4,835		2,400		1,119		3,972		748		31,616		(1,017)		30,599
Provision for income tax expense (benefit)	391		392		135		36		187		(180)		961		(1,060)		(99)
Adjusted earnings	$	1,481	$	966	$	409	$	116	$	741	$	(268)	3,445
Adjustments to:
Total revenues													(4,710)
Total expenses													1,017
Provision for income tax (expense) benefit													1,060
Net income (loss)													$	812			$	812

Six Months Ended June 30, 2021	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	11,173	$	3,267	$	1,231	$	1,219	$	1,666	$	38	$	18,594	$	865	$	19,459
Universal life and investment-type product policy fees	579		894		557		174		547		1		2,752		61		2,813
Net investment income	4,008		2,422		607		125		3,189		60		10,411		183		10,594
Other revenues	776		37		21		29		131		195		1,189		106		1,295
Net investment gains (losses)	—		—		—		—		—		—		—		1,739		1,739
Net derivative gains (losses)	—		—		—		—		—		—		—		(1,814)		(1,814)
Total revenues	16,536		6,620		2,416		1,547		5,533		294		32,946		1,140		34,086
Expenses
Policyholder benefits and claims and policyholder dividends	11,881		2,530		1,485		676		3,072		27		19,671		740		20,411
Interest credited to policyholder account balances	718		985		119		49		420		—		2,291		575		2,866
Capitalization of DAC	(31)		(830)		(195)		(249)		(17)		(6)		(1,328)		(89)		(1,417)
Amortization of DAC and VOBA	24		610		143		156		110		5		1,048		79		1,127
Amortization of negative VOBA	—		(15)		—		(4)		—		—		(19)		—		(19)
Interest expense on debt	3		—		2		—		3		447		455		1		456
Other expenses	1,809		1,731		678		698		497		141		5,554		330		5,884
Total expenses	14,404		5,011		2,232		1,326		4,085		614		27,672		1,636		29,308
Provision for income tax expense (benefit)	446		466		47		56		294		(192)		1,117		(114)		1,003
Adjusted earnings	$	1,686	$	1,143	$	137	$	165	$	1,154	$	(128)	4,157
Adjustments to:
Total revenues													1,140
Total expenses													(1,636)
Provision for income tax (expense) benefit													114
Net income (loss)													$	3,775			$	3,775

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

	June 30, 2022		December 31, 2021
	(In millions)
U.S.	$	251,436	$	282,741
Asia	148,549		169,291
Latin America	56,233		59,763
EMEA	16,907		27,038
MetLife Holdings	156,189		179,551
Corporate & Other	33,579		41,324
Total	$	662,893	$	759,708