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Long-term and Short-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Long-term and Short-term debt outstanding | Long-term and short-term debt outstanding was as follows:
|  |  |  |  |  |  |  |  |  |  | December 31,
| Interest Rates (1) |  |  |  | 2022 |  | 2021
| Range |  | Weighted Average | Maturity | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value |  | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value
|  |  |  |  |  |  |  |  |  |  | (In millions)
Senior notes | 0.50 | % | - | 6.50% |  | 4.42% |  | 2023 | - | 2052 |  | $ | 13,671 |  |  | $ | (83) |  |  | $ | 13,588 |  |  | $ | 12,891 |  |  | $ | (77) |  |  | $ | 12,814 |
Surplus notes | 7.63 | % | - | 7.88% |  | 7.79% |  | 2024 | - | 2025 |  | 507 |  |  | (1) |  |  | 506 |  |  | 507 |  |  | (2) |  |  | 505 |
Other notes | 0.45 | % | - | 7.50% |  | 4.67% |  | 2023 | - | 2027 |  | 500 |  |  | (3) |  |  | 497 |  |  | 536 |  |  | (3) |  |  | 533 |
Financing lease obligations |  |  |  |  |  |  |  |  |  |  | 56 |  |  | — |  |  | 56 |  |  | 81 |  |  | — |  |  | 81 |
Total long-term debt |  |  |  |  |  |  |  |  |  |  | 14,734 |  |  | (87) |  |  | 14,647 |  |  | 14,015 |  |  | (82) |  |  | 13,933 |
Total short-term debt |  |  |  |  |  |  |  |  |  |  | 175 |  |  | — |  |  | 175 |  |  | 341 |  |  | — |  |  | 341 |
Total |  |  |  |  |  |  |  |  |  |  | $ | 14,909 |  |  | $ | (87) |  |  | $ | 14,822 |  |  | $ | 14,356 |  |  | $ | (82) |  |  | $ | 14,274 |
__________________ (1)Range of interest rates and weighted average interest rates are for the year ended December 31, 2022.
Schedule of Short-term Debt | Short-term Debt Short-term debt with maturities of one year or less was as follows:
|  | December 31,
|  | 2022 |  | 2021
|  | (Dollars in millions)
Commercial paper |  | $ | 99 |  |  | $ | 100 |
Short-term borrowings (1) |  | 76 |  |  | 241 |
Total short-term debt |  | $ | 175 |  |  | $ | 341 |
Average daily balance |  | $ | 237 |  |  | $ | 300 |
Average days outstanding |  | 157 days |  | 155 days
__________________ (1)Includes $76 million and $241 million at December 31, 2022 and 2021, respectively, of short-term debt related to repurchase agreements, secured by assets of subsidiaries.
Schedule of Line of Credit Facilities | Information on the Credit Facility at December 31, 2022 was as follows:
Borrower(s) |  | Expiration |  | Maximum Capacity |  | Letters of Credit Issued |  | Drawdowns |  | Unused Commitments
|  |  |  |  | (In millions)
MetLife, Inc. and MetLife Funding, Inc. |  | February 2026 | (1) |  | $ | 3,000 |  |  |  | $ | 263 |  |  | $ | — |  |  | $ | 2,737 |
__________________ (1)All borrowings under the Credit Facility must be repaid by February 26, 2026, except that letters of credit outstanding upon termination may remain outstanding until February 26, 2027.
Committed Facilities | Information on the Committed Facilities at December 31, 2022 was as follows:
Account Party/Borrower(s) |  | Expiration |  | Maximum Capacity |  | Letters of Credit Issued |  | Drawdowns |  | Unused Commitments
|  |  |  |  | (In millions)
MetLife Reinsurance Company of Vermont and MetLife, Inc. |  | November 2026 | (1), (2) |  | $ | 350 |  |  | $ | 350 |  |  | $ | — |  |  | $ | — |
MetLife Reinsurance Company of Vermont and MetLife, Inc. |  | December 2037 | (1), (3) |  | 2,896 |  |  | 2,487 |  |  | — |  |  | 409 |
Total |  |  |  |  | $ | 3,246 |  |  | $ | 2,837 |  |  | $ | — |  |  | $ | 409 |
__________________ (1)MetLife, Inc. is a guarantor under the applicable facility. (2)The issuance of additional letters of credit is at the discretion of the counterparty. (3)Capacity at December 31, 2022 of $2.8 billion increases periodically to a maximum of $2.9 billion in 2024, decreases periodically commencing in 2025 to $2.0 billion in 2037, and decreases to $0 at expiration in December 2037. Unused commitment of $409 million is based on maximum capacity. At December 31, 2022, Brighthouse Financial, Inc. and its subsidiaries (“Brighthouse”), a former subsidiary of MetLife, Inc., is a beneficiary of $2.5 billion of letters of credit issued under this facility and, in consideration, Brighthouse reimburses MetLife, Inc. for a portion of the letter of credit fees.

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