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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $137 and $160, respectively); and amortized cost: $315,474 and $307,421, respectively $ 291,735 $ 281,043
Equity securities 747 712
Contractholder-directed equity securities and fair value option securities, at estimated fair value 10,725 10,672
Mortgage loans (net of allowance for credit loss of $981 and $800, respectively) 87,908 89,012
Policy loans 8,663 8,545
Real estate and real estate joint ventures (includes $377 and $378, respectively, under the fair value option; $79 and $65, respectively, of real estate held-for-sale; $197 and $183, respectively, relating to variable interest entities) 13,481 13,342
Other limited partnership interests 14,137 14,378
Short-term investments, principally at estimated fair value 5,543 5,156
Other invested assets (includes $1,846 and $1,851, respectively, of leveraged and direct financing leases; $520 and $424, respectively, relating to variable interest entities) 17,470 18,504
Total investments 450,409 441,364
Cash and cash equivalents, principally at estimated fair value 21,326 20,068
Accrued investment income 3,557 3,489
Premiums, reinsurance and other receivables (includes $0 and $47, respectively, relating to variable interest entities) 31,251 29,761
Market risk benefits, at estimated fair value 317 372
Deferred policy acquisition costs and value of business acquired 20,162 19,627
Current income tax recoverable 338 295
Deferred income tax asset 2,524 2,994
Goodwill 9,036 8,901
Other assets 11,253 11,082
Separate account assets 138,143 139,504
Total assets 688,316 677,457
Liabilities    
Future policy benefits 197,667 193,646
Policyholder account balances 225,623 221,445
Market risk benefits, at estimated fair value 2,844 2,581
Other policy-related balances 19,523 18,899
Policyholder dividends payable 356 385
Payables for collateral under securities loaned and other transactions 17,440 17,128
Short-term debt (includes $97 and $133, respectively, relating to variable interest entities) 381 465
Long-term debt 14,695 15,086
Collateral financing arrangement 463 476
Subordinated debt securities 4,153 3,164
Deferred income tax liability 430 132
Other liabilities 38,843 36,843
Separate account liabilities 138,143 139,504
Total liabilities 660,561 649,754
Contingencies, Commitments and Guarantees (Note 20)
MetLife, Inc.’s stockholders’ equity:    
Preferred stock, par value $0.01 per share; $3,905 aggregate liquidation preference 0 0
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,195,220,577 and 1,194,168,628 shares issued, respectively; 673,293,988 and 689,211,065 shares outstanding, respectively 12 12
Additional paid-in capital 33,820 33,791
Retained earnings 43,131 42,626
Treasury stock, at cost; 521,926,589 and 504,957,563 shares, respectively (29,222) (27,798)
Accumulated other comprehensive income (loss) (20,248) (21,186)
Total MetLife, Inc.’s stockholders’ equity 27,493 27,445
Noncontrolling interests 262 258
Total equity 27,755 27,703
Total liabilities and equity $ 688,316 $ 677,457