Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Three Months Ended September 30, 2022	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	14,164	$	1,347	$	823	$	475	$	745	$	(7)	$	17,547	$	—	$	17,547
Universal life and investment-type product policy fees	286		421		290		62		232		(1)		1,290		12		1,302
Net investment income	1,716		827		399		40		1,118		63		4,163		(578)		3,585
Other revenues	516		21		10		8		39		96		690		40		730
Net investment gains (losses)	—		—		—		—		—		—		—		(414)		(414)
Net derivative gains (losses)	—		—		—		—		—		—		—		(480)		(480)
Total revenues	16,682		2,616		1,522		585		2,134		151		23,690		(1,420)		22,270
Expenses
Policyholder benefits and claims and policyholder dividends	14,265		1,257		874		239		1,659		(3)		18,291		(143)		18,148
Interest credited to policyholder account balances	478		497		89		16		202		—		1,282		(302)		980
Capitalization of DAC	(23)		(358)		(130)		(96)		(6)		(2)		(615)		—		(615)
Amortization of DAC and VOBA	15		190		68		79		(20)		3		335		(117)		218
Amortization of negative VOBA	—		(11)		—		(1)		—		—		(12)		—		(12)
Interest expense on debt	3		—		3		—		2		231		239		—		239
Other expenses	1,003		749		398		269		228		186		2,833		60		2,893
Total expenses	15,741		2,324		1,302		506		2,065		415		22,353		(502)		21,851
Provision for income tax expense (benefit)	197		95		49		19		10		(63)		307		(288)		19
Adjusted earnings	$	744	$	197	$	171	$	60	$	59	$	(201)	1,030
Adjustments to:
Total revenues													(1,420)
Total expenses													502
Provision for income tax (expense) benefit													288
Net income (loss)													$	400			$	400

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

Nine Months Ended September 30, 2022	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	29,582	$	4,295	$	2,381	$	1,476	$	2,281	$	(17)	$	39,998	$	41	$	40,039
Universal life and investment-type product policy fees	867		1,367		876		236		840		1		4,187		49		4,236
Net investment income	5,300		3,081		1,180		119		3,807		172		13,659		(2,207)		11,452
Other revenues	1,347		66		29		25		106		295		1,868		138		2,006
Net investment gains (losses)	—		—		—		—		—		—		—		(1,617)		(1,617)
Net derivative gains (losses)	—		—		—		—		—		—		—		(2,534)		(2,534)
Total revenues	37,096		8,809		4,466		1,856		7,034		451		59,712		(6,130)		53,582
Expenses
Policyholder benefits and claims and policyholder dividends	30,151		3,670		2,454		758		4,610		(12)		41,631		(109)		41,522
Interest credited to policyholder account balances	1,212		1,488		241		53		607		—		3,601		(1,499)		2,102
Capitalization of DAC	(60)		(1,120)		(363)		(305)		(21)		(7)		(1,876)		(11)		(1,887)
Amortization of DAC and VOBA	43		799		238		260		130		7		1,477		(106)		1,371
Amortization of negative VOBA	—		(27)		—		(4)		—		—		(31)		—		(31)
Interest expense on debt	6		—		10		—		5		669		690		—		690
Other expenses	2,931		2,349		1,122		863		706		506		8,477		206		8,683
Total expenses	34,283		7,159		3,702		1,625		6,037		1,163		53,969		(1,519)		52,450
Provision for income tax expense (benefit)	588		487		184		55		197		(243)		1,268		(1,348)		(80)
Adjusted earnings	$	2,225	$	1,163	$	580	$	176	$	800	$	(469)	4,475
Adjustments to:
Total revenues													(6,130)
Total expenses													1,519
Provision for income tax (expense) benefit													1,348
Net income (loss)													$	1,212			$	1,212

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

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

	September 30, 2022		December 31, 2021
	(In millions)
U.S.	$	253,280	$	282,741
Asia	141,750		169,291
Latin America	54,991		59,763
EMEA	15,673		27,038
MetLife Holdings	149,134		179,551
Corporate & Other	35,276		41,324
Total	$	650,104	$	759,708