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Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Tables) | 12 Months Ended
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Dec. 31, 2022
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract] |
Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired | Information regarding DAC and VOBA was as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In millions)
DAC: |  |  |  |  |
Balance at January 1, | $ | 13,643 |  |  | $ | 13,446 |  |  | $ | 14,790 |
Capitalizations | 2,558 |  |  | 2,718 |  |  | 3,013 |
Amortization related to: |  |  |  |  |
Net investment gains (losses) and net derivative gains (losses) | 105 |  |  | (100) |  |  | (152) |
Other expenses | (1,920) |  |  | (2,268) |  |  | (2,773) |
Total amortization | (1,815) |  |  | (2,368) |  |  | (2,925) |
Unrealized investment gains (losses) | 7,166 |  |  | 811 |  |  | (1,312) |
Effect of foreign currency translation and other | (688) |  |  | (861) |  |  | 76 |
Reclassified to assets held-for-sale (1) | — |  |  | (103) |  |  | (196) |
Balance at December 31, | 20,864 |  |  | 13,643 |  |  | 13,446 |
VOBA: |  |  |  |  |
Balance at January 1, | 2,418 |  |  | 2,943 |  |  | 3,043 |
Amortization related to: |  |  |  |  |
Net investment gains (losses) and net derivative gains (losses) | — |  |  | — |  |  | (2) |
Other expenses | (116) |  |  | (187) |  |  | (233) |
Total amortization | (116) |  |  | (187) |  |  | (235) |
Unrealized investment gains (losses) | 17 |  |  | 11 |  |  | (4) |
Effect of foreign currency translation and other | (200) |  |  | (314) |  |  | 139 |
Reclassified to assets held-for-sale (1) | — |  |  | (35) |  |  | — |
Balance at December 31, | 2,119 |  |  | 2,418 |  |  | 2,943 |
Total DAC and VOBA: |  |  |  |  |
Balance at December 31, | $ | 22,983 |  |  | $ | 16,061 |  |  | $ | 16,389 |
__________________ (1)See Note 3 for information on the Company’s dispositions.
Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired | Information regarding DAC and VOBA was as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In millions)
DAC: |  |  |  |  |
Balance at January 1, | $ | 13,643 |  |  | $ | 13,446 |  |  | $ | 14,790 |
Capitalizations | 2,558 |  |  | 2,718 |  |  | 3,013 |
Amortization related to: |  |  |  |  |
Net investment gains (losses) and net derivative gains (losses) | 105 |  |  | (100) |  |  | (152) |
Other expenses | (1,920) |  |  | (2,268) |  |  | (2,773) |
Total amortization | (1,815) |  |  | (2,368) |  |  | (2,925) |
Unrealized investment gains (losses) | 7,166 |  |  | 811 |  |  | (1,312) |
Effect of foreign currency translation and other | (688) |  |  | (861) |  |  | 76 |
Reclassified to assets held-for-sale (1) | — |  |  | (103) |  |  | (196) |
Balance at December 31, | 20,864 |  |  | 13,643 |  |  | 13,446 |
VOBA: |  |  |  |  |
Balance at January 1, | 2,418 |  |  | 2,943 |  |  | 3,043 |
Amortization related to: |  |  |  |  |
Net investment gains (losses) and net derivative gains (losses) | — |  |  | — |  |  | (2) |
Other expenses | (116) |  |  | (187) |  |  | (233) |
Total amortization | (116) |  |  | (187) |  |  | (235) |
Unrealized investment gains (losses) | 17 |  |  | 11 |  |  | (4) |
Effect of foreign currency translation and other | (200) |  |  | (314) |  |  | 139 |
Reclassified to assets held-for-sale (1) | — |  |  | (35) |  |  | — |
Balance at December 31, | 2,119 |  |  | 2,418 |  |  | 2,943 |
Total DAC and VOBA: |  |  |  |  |
Balance at December 31, | $ | 22,983 |  |  | $ | 16,061 |  |  | $ | 16,389 |
__________________ (1)See Note 3 for information on the Company’s dispositions.
Information regarding Deferred Policy Acquisition Costs and Value of Business Acquired by Segment | Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:
| December 31,
| 2022 |  | 2021
| (In millions)
U.S. | $ | 459 |  |  | $ | 440 |
Asia | 13,384 |  |  | 9,339 |
Latin America | 2,211 |  |  | 2,021 |
EMEA | 1,593 |  |  | 1,623 |
MetLife Holdings | 5,308 |  |  | 2,607 |
Corporate & Other | 28 |  |  | 31 |
Total | $ | 22,983 |  |  | $ | 16,061 |
Deferred Sales Inducements of Business Acquired | Information regarding other intangibles was as follows:
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
DSI: |  |  |  |  |  |
Balance at January 1, |  | $ | 107 |  |  | $ | 108 |  |  | $ | 158 |
Capitalization |  | 3 |  |  | — |  |  | 6 |
Amortization |  | (32) |  |  | (14) |  |  | (37) |
Unrealized investment gains (losses) |  | 59 |  |  | 20 |  |  | (18) |
Effect of foreign currency translation and other |  | (2) |  |  | (7) |  |  | (1) |
Balance at December 31, |  | $ | 135 |  |  | $ | 107 |  |  | $ | 108 |
VODA and VOCRA: |  |  |  |  |  |
Balance at January 1, |  | $ | 972 |  |  | $ | 1,099 |  |  | $ | 335 |
Acquisitions (1) |  | — |  |  | — |  |  | 814 |
Amortization |  | (92) |  |  | (100) |  |  | (41) |
Effect of foreign currency translation and other |  | (4) |  |  | (27) |  |  | (9) |
Balance at December 31, |  | $ | 876 |  |  | $ | 972 |  |  | $ | 1,099 |
Accumulated amortization |  | $ | 667 |  |  | $ | 575 |  |  | $ | 475 |
Negative VOBA: |  |  |  |  |  |
Balance at January 1, |  | $ | 623 |  |  | $ | 738 |  |  | $ | 750 |
Amortization |  | (41) |  |  | (34) |  |  | (45) |
Effect of foreign currency translation and other |  | (63) |  |  | (81) |  |  | 33 |
Balance at December 31, |  | $ | 519 |  |  | $ | 623 |  |  | $ | 738 |
Accumulated amortization |  | $ | 3,383 |  |  | $ | 3,342 |  |  | $ | 3,308 |
__________________ (1)Primarily related to the acquisition of Versant Health. See Note 3.
Value of Distribution Agreements and Customer Relationships Acquired and Negative Value of Business Acquired | Information regarding other intangibles was as follows:
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
DSI: |  |  |  |  |  |
Balance at January 1, |  | $ | 107 |  |  | $ | 108 |  |  | $ | 158 |
Capitalization |  | 3 |  |  | — |  |  | 6 |
Amortization |  | (32) |  |  | (14) |  |  | (37) |
Unrealized investment gains (losses) |  | 59 |  |  | 20 |  |  | (18) |
Effect of foreign currency translation and other |  | (2) |  |  | (7) |  |  | (1) |
Balance at December 31, |  | $ | 135 |  |  | $ | 107 |  |  | $ | 108 |
VODA and VOCRA: |  |  |  |  |  |
Balance at January 1, |  | $ | 972 |  |  | $ | 1,099 |  |  | $ | 335 |
Acquisitions (1) |  | — |  |  | — |  |  | 814 |
Amortization |  | (92) |  |  | (100) |  |  | (41) |
Effect of foreign currency translation and other |  | (4) |  |  | (27) |  |  | (9) |
Balance at December 31, |  | $ | 876 |  |  | $ | 972 |  |  | $ | 1,099 |
Accumulated amortization |  | $ | 667 |  |  | $ | 575 |  |  | $ | 475 |
Negative VOBA: |  |  |  |  |  |
Balance at January 1, |  | $ | 623 |  |  | $ | 738 |  |  | $ | 750 |
Amortization |  | (41) |  |  | (34) |  |  | (45) |
Effect of foreign currency translation and other |  | (63) |  |  | (81) |  |  | 33 |
Balance at December 31, |  | $ | 519 |  |  | $ | 623 |  |  | $ | 738 |
Accumulated amortization |  | $ | 3,383 |  |  | $ | 3,342 |  |  | $ | 3,308 |
__________________ (1)Primarily related to the acquisition of Versant Health. See Note 3.
Estimated Future Amortization Expense (Credit) | The estimated future amortization expense (credit) to be reported in other expenses for the next five years is as follows:
|  | VOBA |  | VODA and VOCRA |  | Negative VOBA
|  | (In millions)
2023 |  | $ | 155 |  |  | $ | 86 |  |  | $ | (30) |
2024 |  | $ | 161 |  |  | $ | 84 |  |  | $ | (29) |
2025 |  | $ | 153 |  |  | $ | 82 |  |  | $ | (28) |
2026 |  | $ | 144 |  |  | $ | 80 |  |  | $ | (26) |
2027 |  | $ | 133 |  |  | $ | 78 |  |  | $ | (25) |

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- Definition Tabular disclosure of the change in assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment and amount of negative value of business acquired costs amortized for each period presented and the unamortized balance as of each balance sheet date. + References No definition available. + Details
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