Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting Information, by Segment


Three Months Ended March 31, 2024	Group Benefits		RIS		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	5,711	$	675	$	1,297	$	1,115	$	536	$	713	$	6	$	10,053	$	—	$	10,053
Universal life and investment-type product policy fees	222		75		426		370		77		78		—		1,248		—		1,248
Net investment income	315		2,089		1,108		386		54		1,010		106		5,068		368		5,436
Other revenues	397		63		21		11		7		50		98		647		27		674
Net investment gains (losses)	—		—		—		—		—		—		—		—		(375)		(375)
Net derivative gains (losses)	—		—		—		—		—		—		—		—		(979)		(979)
Total revenues	6,645		2,902		2,852		1,882		674		1,851		210		17,016		(959)		16,057
Expenses
Policyholder benefits and claims and policyholder dividends	5,236		1,471		1,067		983		258		1,251		8		10,274		(53)		10,221
Policyholder liability remeasurement (gains) losses	(3)		1		(32)		(8)		—		20		—		(22)		—		(22)
Market risk benefit remeasurement (gains) losses	—		—		—		—		—		—		—		—		(694)		(694)
Interest credited to policyholder account balances	48		796		647		114		19		103		—		1,727		563		2,290
Capitalization of deferred policy acquisition costs	(4)		(61)		(361)		(178)		(128)		(5)		(3)		(740)		—		(740)
Amortization of deferred policy acquisition costs and value of business acquired	6		15		210		125		91		59		2		508		—		508
Amortization of negative value of business acquired	—		—		(5)		—		(1)		—		—		(6)		—		(6)
Interest expense on debt	—		4		—		3		—		4		253		264		—		264
Other expenses	1,003		172		744		512		332		223		194		3,180		11		3,191
Total expenses	6,286		2,398		2,270		1,551		571		1,655		454		15,185		(173)		15,012
Provision for income tax expense (benefit)	75		105		159		98		26		37		(70)		430		(260)		170
Adjusted earnings	$	284	$	399	$	423	$	233	$	77	$	159	$	(174)	1,401
Adjustments to:
Total revenues															(959)
Total expenses															173
Provision for income tax (expense) benefit															260
Net income (loss)															$	875			$	875


Three Months Ended March 31, 2023	Group Benefits		RIS		Asia		Latin America		EMEA		MetLife Holdings		Corporate & Other		Total		Adjustments		Total Consolidated
	(In millions)
Revenues
Premiums	$	5,451	$	501	$	1,377	$	1,025	$	496	$	723	$	16	$	9,589	$	—	$	9,589
Universal life and investment-type product policy fees	218		79		397		335		77		183		—		1,289		—		1,289
Net investment income	310		1,814		881		379		45		1,127		50		4,606		39		4,645
Other revenues	380		68		20		12		8		53		101		642		(3)		639
Net investment gains (losses)	—		—		—		—		—		—		—		—		(684)		(684)
Net derivative gains (losses)	—		—		—		—		—		—		—		—		(90)		(90)
Total revenues	6,359		2,462		2,675		1,751		626		2,086		167		16,126		(738)		15,388
Expenses
Policyholder benefits and claims and policyholder dividends	4,994		1,225		1,130		966		261		1,369		16		9,961		70		10,031
Policyholder liability remeasurement (gains) losses	(4)		(29)		11		(4)		(3)		20		—		(9)		—		(9)
Market risk benefit remeasurement (gains) losses	—		—		—		—		—		—		—		—		188		188
Interest credited to policyholder account balances	46		646		536		99		16		199		—		1,542		322		1,864
Capitalization of deferred policy acquisition costs	(6)		(45)		(401)		(151)		(108)		(6)		(1)		(718)		—		(718)
Amortization of deferred policy acquisition costs and value of business acquired	6		11		193		106		85		68		1		470		—		470
Amortization of negative value of business acquired	—		—		(6)		—		(1)		—		—		(7)		—		(7)
Interest expense on debt	—		3		—		2		—		3		247		255		—		255
Other expenses	932		146		807		430		300		238		177		3,030		27		3,057
Total expenses	5,968		1,957		2,270		1,448		550		1,891		440		14,524		607		15,131
Provision for income tax expense (benefit)	84		105		125		88		16		37		(103)		352		(180)		172
Adjusted earnings	$	307	$	400	$	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

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


	March 31, 2024		December 31, 2023
	(In millions)
Group Benefits	$	37,076	$	36,715
RIS	217,290		218,587
Asia	154,296		157,206
Latin America	66,142		69,177
EMEA	18,742		18,596
MetLife Holdings	146,621		148,524
Corporate & Other	37,409		38,779
Total	$	677,576	$	687,584