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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $151 and $160, respectively); and amortized cost: $321,735 and $307,421, respectively $ 298,737 $ 281,043
Equity securities 790 712
Contractholder-directed equity securities and fair value option securities, at estimated fair value 11,694 10,672
Mortgage loans (net of allowance for credit loss of $1,196 and $800, respectively) 86,868 89,012
Policy loans 8,664 8,545
Real estate and real estate joint ventures (includes $389 and $378, respectively, under the fair value option; $152 and $65, respectively, of real estate held-for-sale; $210 and $183, respectively, relating to variable interest entities) 14,007 13,342
Other limited partnership interests 14,279 14,378
Short-term investments, principally at estimated fair value 5,300 5,156
Other invested assets (includes $1,825 and $1,851, respectively, of leveraged and direct financing leases; $523 and $424, respectively, relating to variable interest entities) 16,352 18,504
Total investments 456,691 441,364
Cash and cash equivalents, principally at estimated fair value 22,178 20,068
Accrued investment income 3,532 3,489
Premiums, reinsurance and other receivables (includes $0 and $47, respectively, relating to variable interest entities) 31,503 29,761
Market risk benefits, at estimated fair value 352 372
Deferred policy acquisition costs and value of business acquired 20,993 19,627
Current income tax recoverable 554 295
Deferred income tax asset 2,925 2,994
Goodwill 9,142 8,901
Other assets 11,425 11,082
Separate account assets 143,175 139,504
Total assets 702,470 677,457
Liabilities    
Future policy benefits 198,965 193,646
Policyholder account balances 232,433 221,445
Market risk benefits, at estimated fair value 2,709 2,581
Other policy-related balances 19,899 18,899
Policyholder dividends payable 367 385
Payables for collateral under securities loaned and other transactions 17,147 17,128
Short-term debt (includes $106 and $133, respectively, relating to variable interest entities) 379 465
Long-term debt 15,374 15,086
Collateral financing arrangement 438 476
Subordinated debt securities 4,153 3,164
Deferred income tax liability 430 132
Other liabilities (includes $41 and $0, respectively, relating to variable interest entities) 39,074 36,843
Separate account liabilities 143,175 139,504
Total liabilities 674,543 649,754
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; 1,195,301,071 and 1,194,168,628 shares issued, respectively; 666,827,962 and 689,211,065 shares outstanding, respectively 12 12
Additional paid-in capital 33,822 33,791
Retained earnings 43,447 42,626
Treasury stock, at cost; 528,473,109 and 504,957,563 shares, respectively (29,737) (27,798)
Accumulated other comprehensive income (loss) (19,859) (21,186)
Total MetLife, Inc.’s stockholders’ equity 27,685 27,445
Noncontrolling interests 242 258
Total equity 27,927 27,703
Total liabilities and equity $ 702,470 $ 677,457