Deferred Policy Acquisition Costs, Value of Business Acquired and Unearned Revenue

3 Months Ended

Mar. 31, 2024

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Intangible Assets and Liabilities and Unearned Revenue, excluding Goodwill [Text Block]

8. Deferred Policy Acquisition Costs, Value of Business Acquired and Unearned Revenue

DAC and VOBA

Information regarding total deferred policy acquisition costs (“DAC”) and value of business acquired (“VOBA”) by segment, as well as Corporate & Other, was as follows at:

	Group Benefits		RIS		Asia (1)		Latin America (2)		EMEA (2)		MetLife Holdings (3)		Corporate & Other		Total
	(In millions)
DAC:
Balance at January 1, 2024	$	258	$	397	$	10,864	$	1,950	$	1,618	$	3,271	$	30	$	18,388
Capitalizations	4		61		361		178		128		5		3		740
Amortization	(6)		(14)		(190)		(114)		(87)		(58)		(2)		(471)
Effect of foreign currency translation and other, net	—		—		(361)		(14)		(41)		—		(3)		(419)
Balance at March 31, 2024	$	256	$	444	$	10,674	$	2,000	$	1,618	$	3,218	$	28	$	18,238
Balance at January 1, 2023	$	265	$	267	$	10,270	$	1,542	$	1,480	$	3,791	$	29	$	17,644
Capitalizations	6		45		401		151		108		6		1		718
Amortization	(6)		(10)		(168)		(93)		(81)		(67)		(1)		(426)
Effect of foreign currency translation and other, net	—		—		(89)		108		22		—		1		42
Balance at March 31, 2023	$	265	$	302	$	10,414	$	1,708	$	1,529	$	3,730	$	30	$	17,978
VOBA:
Balance at January 1, 2024	$	—	$	16	$	1,119	$	497	$	113	$	18	$	—	$	1,763
Amortization	—		(1)		(20)		(11)		(4)		(1)		—		(37)
Effect of foreign currency translation and other, net	—		—		(76)		(44)		(2)		—		—		(122)
Balance at March 31, 2024	$	—	$	15	$	1,023	$	442	$	107	$	17	$	—	$	1,604
Balance at January 1, 2023	$	—	$	19	$	1,290	$	545	$	127	$	28	$	—	$	2,009
Amortization	—		(1)		(25)		(13)		(4)		(1)		—		(44)
Effect of foreign currency translation and other, net	—		—		(11)		42		2		—		—		33
Balance at March 31, 2023	$	—	$	18	$	1,254	$	574	$	125	$	27	$	—	$	1,998
Total DAC and VOBA:
Balance at March 31, 2024															$	19,842
Balance at March 31, 2023															$	19,976
Balance at December 31, 2023															$	20,151

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(1)Includes DAC balances primarily related to accident & health, universal and variable universal life, variable life and fixed annuity products and VOBA balances primarily related to accident & health products.

(2)Includes DAC balances primarily related to universal life and variable universal life products.

(3)Includes DAC balances primarily related to universal life, variable universal life, whole life, term life and variable annuity products.

Unearned Revenue

Information regarding the Company’s unearned revenue primarily related to universal life and variable universal life products by segment included in other policy-related balances was as follows:

	Three Months Ended March 31, 2024
	RIS		Asia		Latin  America		EMEA		MetLife Holdings		Total
	(In millions)
Balance, beginning of period	$	31	$	2,850	$	989	$	608	$	59	$	4,537
Deferrals	1		152		37		25		3		218
Amortization	(2)		(52)		(30)		(17)		(1)		(102)
Effect of foreign currency translation and other, net	—		(31)		4		(14)		—		(41)
Balance, end of period	$	30	$	2,919	$	1,000	$	602	$	61	$	4,612
	Three Months Ended March 31, 2023
	RIS		Asia		Latin  America		EMEA		MetLife Holdings		Total
	(In millions)
Balance, beginning of period	$	36	$	2,382	$	848	$	559	$	281	$	4,106
Deferrals	1		105		33		23		14		176
Amortization	(2)		(40)		(28)		(15)		(6)		(91)
Effect of foreign currency translation and other, net	—		(16)		67		8		—		59
Balance, end of period	$	35	$	2,431	$	920	$	575	$	289	$	4,250