Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Three Months Ended March 31, 2023	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	5,952	$	1,377	$	1,025	$	496	$	723	$	16	$	9,589	$	—	$	9,589
Universal life and investment-type product policy fees	297		397		335		77		183		—		1,289		—		1,289
Net investment income	2,124		881		379		45		1,127		50		4,606		39		4,645
Other revenues	448		20		12		8		53		101		642		(3)		639
Net investment gains (losses)	—		—		—		—		—		—		—		(684)		(684)
Net derivative gains (losses)	—		—		—		—		—		—		—		(90)		(90)
Total revenues	8,821		2,675		1,751		626		2,086		167		16,126		(738)		15,388
Expenses
Policyholder benefits and claims and policyholder dividends	6,219		1,130		966		261		1,369		16		9,961		70		10,031
Policyholder liability remeasurement (gains) losses	(33)		11		(4)		(3)		20		—		(9)		—		(9)
Market risk benefit remeasurement (gains) losses	—		—		—		—		—		—		—		188		188
Interest credited to policyholder account balances	692		536		99		16		199		—		1,542		322		1,864
Capitalization of DAC	(51)		(401)		(151)		(108)		(6)		(1)		(718)		—		(718)
Amortization of DAC and VOBA	17		193		106		85		68		1		470		—		470
Amortization of negative VOBA	—		(6)		—		(1)		—		—		(7)		—		(7)
Interest expense on debt	3		—		2		—		3		247		255		—		255
Other expenses	1,078		807		430		300		238		177		3,030		27		3,057
Total expenses	7,925		2,270		1,448		550		1,891		440		14,524		607		15,131
Provision for income tax expense (benefit)	189		125		88		16		37		(103)		352		(180)		172
Adjusted earnings	$	707	$	280	$	215	$	60	$	158	$	(170)	1,250
Adjustments to:
Total revenues													(738)
Total expenses													(607)
Provision for income tax (expense) benefit													180
Net income (loss)													$	85			$	85

Three Months Ended March 31, 2022	U.S.		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	7,005	$	1,552	$	738	$	509	$	776	$	(4)	$	10,576	$	41	$	10,617
Universal life and investment-type product policy fees	298		403		289		83		228		—		1,301		11		1,312
Net investment income	1,874		1,242		322		41		1,393		120		4,992		(708)		4,284
Other revenues	426		21		9		9		44		101		610		50		660
Net investment gains (losses)	—		—		—		—		—		—		—		(517)		(517)
Net derivative gains (losses)	—		—		—		—		—		—		—		(951)		(951)
Total revenues	9,603		3,218		1,358		642		2,441		217		17,479		(2,074)		15,405
Expenses
Policyholder benefits and claims and policyholder dividends	7,417		1,271		780		276		1,482		(7)		11,219		154		11,373
Policyholder liability remeasurement (gains) losses	(23)		(24)		(14)		4		16		—		(41)		—		(41)
Market risk benefit remeasurement (gains) losses	—		—		—		—		—		—		—		(1,440)		(1,440)
Interest credited to policyholder account balances	406		498		68		17		202		—		1,191		(565)		626
Capitalization of DAC	(32)		(388)		(111)		(101)		(6)		(3)		(641)		(11)		(652)
Amortization of DAC and VOBA	17		194		100		79		75		2		467		8		475
Amortization of negative VOBA	—		(7)		—		(1)		—		—		(8)		—		(8)
Interest expense on debt	2		—		3		—		1		219		225		—		225
Other expenses	979		837		349		296		236		136		2,833		79		2,912
Total expenses	8,766		2,381		1,175		570		2,006		347		15,245		(1,775)		13,470
Provision for income tax expense (benefit)	174		238		48		17		87		(88)		476		(180)		296
Adjusted earnings	$	663	$	599	$	135	$	55	$	348	$	(42)	1,758
Adjustments to:
Total revenues													(2,074)
Total expenses													1,775
Provision for income tax (expense) benefit													180
Net income (loss)													$	1,639			$	1,639

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

	March 31, 2023		December 31, 2022
	(In millions)
U.S.	$	252,200	$	252,219
Asia	152,901		148,305
Latin America	69,148		63,687
EMEA	17,455		16,860
MetLife Holdings	151,213		148,749
Corporate & Other	31,349		33,252
Total	$	674,266	$	663,072