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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $162,167 and $154,397, respectively; allowance for credit loss of $37 and $0, respectively) $ 184,574 $ 169,564
Mortgage loans (net of allowance for credit loss of $452 and $289, respectively; includes $198 and $210, respectively, relating to variable interest entities; includes $176 and $188, respectively, under the fair value option and $0 and $59, respectively, of mortgage loans held-for-sale) 66,102 65,549
Policy loans 6,018 6,100
Real estate and real estate joint ventures (includes $1,404 and $1,378, respectively, relating to variable interest entities and $147 and $127, respectively, under the fair value option) 7,021 6,659
Other limited partnership interests 5,329 4,954
Short-term investments at estimated fair value 2,352 1,883
Other invested assets (includes $1,013 and $1,085, respectively, of leveraged and direct financing leases and $85 and $94, respectively, relating to variable interest entities) 19,410 16,979
Total investments 290,806 271,688
Cash and cash equivalents, principally at estimated fair value (includes $25 and $5, respectively, relating to variable interest entities) 13,284 8,927
Accrued investment income (includes $1 and $1, respectively, relating to variable interest entities) 1,993 1,987
Premiums, reinsurance and other receivables (includes $4 and $3, respectively, relating to variable interest entities) 23,049 22,435
Deferred policy acquisition costs and value of business acquired 2,798 3,453
Other assets (includes $2 and $2, respectively, relating to variable interest entities) 4,301 4,460
Separate account assets 124,892 117,867
Total assets 461,123 430,817
Liabilities    
Future policy benefits 134,293 128,304
Policyholder account balances 96,989 91,708
Other policy-related balances 7,691 7,732
Policyholder dividends payable 421 495
Policyholder dividend obligation 2,944 2,020
Payables for collateral under securities loaned and other transactions 26,726 20,365
Short-term debt 123 128
Long-term debt (includes $5 and $5, respectively, at estimated fair value, relating to variable interest entities) 1,611 1,548
Current income tax payable 232 388
Deferred income tax liability 2,317 1,568
Other liabilities 27,256 26,082
Separate account liabilities 124,892 117,867
Total liabilities 425,495 398,205
Contingencies, Commitments and Guarantees (Note 12)
Metropolitan Life Insurance Company stockholder’s equity:    
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 494,466,664 shares issued and outstanding 5 5
Additional paid-in capital 12,459 12,455
Retained earnings 11,491 9,943
Accumulated other comprehensive income (loss) ("AOCI") 11,487 10,025
Total Metropolitan Life Insurance Company stockholder’s equity 35,442 32,428
Noncontrolling interests 186 184
Total equity 35,628 32,612
Total liabilities and equity $ 461,123 $ 430,817