XML 64 R42.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Organization, Consolidation and Presentation of Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Accounting Policies [Abstract] |
Summary of Market Data and Spreads Applied to Determine Upper-Medium Grade Discount Rate | The table below summarizes the market data and spreads applied to determine the upper-medium grade discount rate for products issued in key jurisdictions that are included in the disaggregated rollforwards in Note 4.
Disaggregated rollforwards | Jurisdiction | Observable base curve | Spread applied to derive upper-medium grade discount rate
RIS Annuities, MetLife Holdings Long-term Care | United States | Single A curve | No spread applied as there is an observable single A base discount curve.
Asia - Whole and Term Life & Endowments, Asia - Accident & Health | Japan | Japanese government bond yield | A spread is applied based on local corporate bonds whose credit is deemed to approximate single A bonds. The spread is based on weighted average bond yields up to 10 years and held flat for years 10 to 30.
Korea | Korean government bond yield | A spread is applied based on local corporate bonds whose credit is deemed to approximate single A bonds. The spread is based on weighted average bond yields up to five years and held flat for years five to 30.
Latin America Fixed Annuities | Chile | Chilean government bond yield | A blended spread is applied based on local corporate bonds whose credit is deemed to approximate single A bonds. The spread is based on weighted average bond yields up to 10 years and held flat for years 10 to 25.
Mexico | Mexican government bond yield | There are few public corporate bonds denominated in Mexican pesos with a credit rating higher than sovereign bonds. Therefore a spread is applied based on local corporate bond yields to approximate a single A equivalent bond.
Accounting Standards Update and Change in Accounting Principle | The following table presents the effects of the retrospective application of the adoption of the new LDTI accounting guidance to the Company’s previously reported consolidated balance sheet:
|  | December 31, 2022
|  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption |  |  |  |  |  |
|  | (In millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |
Premiums, reinsurance and other receivables |  | $ | 17,461 |  |  | $ | (97) |  |  | $ | 17,364 |  |  |  |  |  |  |
Market risk benefits |  | $ | — |  |  | $ | 280 |  |  | $ | 280 |  |  |  |  |  |  |
Deferred policy acquisition costs and value of business acquired |  | $ | 22,983 |  |  | $ | (3,330) |  |  | $ | 19,653 |  |  |  |  |  |  |
Deferred income tax asset |  | $ | 2,830 |  |  | $ | (391) |  |  | $ | 2,439 |  |  |  |  |  |  |
Other assets |  | $ | 11,026 |  |  | $ | (1) |  |  | $ | 11,025 |  |  |  |  |  |  |
Total assets |  | $ | 666,611 |  |  | $ | (3,539) |  |  | $ | 663,072 |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Future policy benefits |  | $ | 204,228 |  |  | $ | (17,006) |  |  | $ | 187,222 |  |  |  |  |  |  |
Policyholder account balances |  | $ | 203,082 |  |  | $ | 7,515 |  |  | $ | 210,597 |  |  |  |  |  |  |
Market risk benefits |  | $ | — |  |  | $ | 3,763 |  |  | $ | 3,763 |  |  |  |  |  |  |
Other policy-related balances |  | $ | 19,651 |  |  | $ | (1,227) |  |  | $ | 18,424 |  |  |  |  |  |  |
Deferred income tax liability |  | $ | 325 |  |  | $ | 625 |  |  | $ | 950 |  |  |  |  |  |  |
Other liabilities |  | $ | 25,980 |  |  | $ | (47) |  |  | $ | 25,933 |  |  |  |  |  |  |
Total liabilities |  | $ | 639,324 |  |  | $ | (6,377) |  |  | $ | 632,947 |  |  |  |  |  |  |
Equity |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  | $ | 41,953 |  |  | $ | (1,621) |  |  | $ | 40,332 |  |  |  |  |  |  |
Accumulated other comprehensive income (loss) |  | $ | (27,083) |  |  | $ | 4,462 |  |  | $ | (22,621) |  |  |  |  |  |  |
Total MetLife, Inc.'s stockholders' equity |  | $ | 27,040 |  |  | $ | 2,841 |  |  | $ | 29,881 |  |  |  |  |  |  |
Noncontrolling interests |  | $ | 247 |  |  | $ | (3) |  |  | $ | 244 |  |  |  |  |  |  |
Total equity |  | $ | 27,287 |  |  | $ | 2,838 |  |  | $ | 30,125 |  |  |  |  |  |  |
Total liabilities and equity |  | $ | 666,611 |  |  | $ | (3,539) |  |  | $ | 663,072 |  |  |  |  |  |  |
The following table presents the effects of the retrospective application of the adoption of the new LDTI accounting guidance to the Company’s previously reported consolidated statement of operations:
|  | December 31,
|  | 2022 |  | 2021
|  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption |  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption
|  | (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 49,397 |  |  | $ | (887) |  |  | $ | 48,510 |  |  | $ | 42,009 |  |  | $ | (857) |  |  | $ | 41,152 |
Universal life and investment-type product policy fees |  | $ | 5,585 |  |  | $ | (360) |  |  | $ | 5,225 |  |  | $ | 5,756 |  |  | $ | (512) |  |  | $ | 5,244 |
Other revenues |  | $ | 2,634 |  |  | $ | (4) |  |  | $ | 2,630 |  |  | $ | 2,619 |  |  | $ | — |  |  | $ | 2,619 |
Net investment gains (losses) |  | $ | (1,262) |  |  | $ | 2 |  |  | $ | (1,260) |  |  | $ | 1,529 |  |  | $ | 14 |  |  | $ | 1,543 |
Net derivative gains (losses) |  | $ | (2,372) |  |  | $ | 121 |  |  | $ | (2,251) |  |  | $ | (2,228) |  |  | $ | (1,029) |  |  | $ | (3,257) |
Total revenues |  | $ | 69,898 |  |  | $ | (1,128) |  |  | $ | 68,770 |  |  | $ | 71,080 |  |  | $ | (2,384) |  |  | $ | 68,696 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims |  | $ | 50,612 |  |  | $ | (1,105) |  |  | $ | 49,507 |  |  | $ | 43,954 |  |  | $ | (836) |  |  | $ | 43,118 |
Policyholder liability remeasurement (gains) losses |  | $ | — |  |  | $ | 114 |  |  | $ | 114 |  |  | $ | — |  |  | $ | (172) |  |  | $ | (172) |
Market risk benefit remeasurement (gains) losses |  | $ | — |  |  | $ | (3,674) |  |  | $ | (3,674) |  |  | $ | — |  |  | $ | (1,237) |  |  | $ | (1,237) |
Interest credited to policyholder account balances |  | $ | 3,692 |  |  | $ | 202 |  |  | $ | 3,894 |  |  | $ | 5,538 |  |  | $ | 33 |  |  | $ | 5,571 |
Policyholder dividends |  | $ | 701 |  |  | $ | 5 |  |  | $ | 706 |  |  | $ | 876 |  |  | $ | 4 |  |  | $ | 880 |
Other expenses |  | $ | 12,034 |  |  | $ | (175) |  |  | $ | 11,859 |  |  | $ | 12,586 |  |  | $ | (568) |  |  | $ | 12,018 |
Total expenses |  | $ | 67,039 |  |  | $ | (4,633) |  |  | $ | 62,406 |  |  | $ | 62,954 |  |  | $ | (2,776) |  |  | $ | 60,178 |
Income (loss) before provision for income tax |  | $ | 2,859 |  |  | $ | 3,505 |  |  | $ | 6,364 |  |  | $ | 8,126 |  |  | $ | 392 |  |  | $ | 8,518 |
Provision for income tax expense (benefit) |  | $ | 301 |  |  | $ | 761 |  |  | $ | 1,062 |  |  | $ | 1,551 |  |  | $ | 91 |  |  | $ | 1,642 |
Net income (loss) |  | $ | 2,558 |  |  | $ | 2,744 |  |  | $ | 5,302 |  |  | $ | 6,575 |  |  | $ | 301 |  |  | $ | 6,876 |
Net income (loss) attributable to noncontrolling interests |  | $ | 19 |  |  | $ | (1) |  |  | $ | 18 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 21 |
Net income (loss) attributable to MetLife, Inc. |  | $ | 2,539 |  |  | $ | 2,745 |  |  | $ | 5,284 |  |  | $ | 6,554 |  |  | $ | 301 |  |  | $ | 6,855 |
Net income (loss) available to MetLife, Inc.'s common shareholders |  | $ | 2,354 |  |  | $ | 2,745 |  |  | $ | 5,099 |  |  | $ | 6,353 |  |  | $ | 301 |  |  | $ | 6,654 |
Net income (loss) available to MetLife, Inc.'s common shareholders per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 2.93 |  |  | $ | 3.42 |  |  | $ | 6.35 |  |  | $ | 7.36 |  |  | $ | 0.35 |  |  | $ | 7.71 |
Diluted |  | $ | 2.91 |  |  | $ | 3.39 |  |  | $ | 6.30 |  |  | $ | 7.31 |  |  | $ | 0.34 |  |  | $ | 7.65 |
The following table presents the effects of the retrospective application of the adoption of the new LDTI accounting guidance to the Company’s previously reported consolidated statements of comprehensive income:
| December 31,
|  | 2022 |  | 2021
|  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption |  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption
| (In millions)
Net income (loss) |  | $ | 2,558 |  |  | $ | 2,744 |  |  | $ | 5,302 |  |  | $ | 6,575 |  |  | $ | 301 |  |  | $ | 6,876 |
Unrealized investment gains (losses), net of related offsets |  | $ | (47,831) |  |  | $ | (8,666) |  |  | $ | (56,497) |  |  | $ | (8,171) |  |  | $ | (4,669) |  |  | $ | (12,840) |
Future policy benefits discount rate remeasurement gains (losses) |  | $ | — |  |  | $ | 31,804 |  |  | $ | 31,804 |  |  | $ | — |  |  | $ | 10,102 |  |  | $ | 10,102 |
Market risk benefits instrument-specific credit risk remeasurement gains (losses) |  | $ | — |  |  | $ | (219) |  |  | $ | (219) |  |  | $ | — |  |  | $ | 257 |  |  | $ | 257 |
Foreign currency translation adjustments |  | $ | (1,242) |  |  | $ | 4 |  |  | $ | (1,238) |  |  | $ | (1,306) |  |  | $ | 40 |  |  | $ | (1,266) |
Other comprehensive income (loss), before income tax |  | $ | (48,879) |  |  | $ | 22,923 |  |  | $ | (25,956) |  |  | $ | (9,012) |  |  | $ | 5,730 |  |  | $ | (3,282) |
Income tax (expense) benefit related to items of other comprehensive income (loss) |  | $ | 10,871 |  |  | $ | (5,092) |  |  | $ | 5,779 |  |  | $ | 1,862 |  |  | $ | (1,343) |  |  | $ | 519 |
Other comprehensive income (loss), net of income tax |  | $ | (38,008) |  |  | $ | 17,831 |  |  | $ | (20,177) |  |  | $ | (7,150) |  |  | $ | 4,387 |  |  | $ | (2,763) |
Comprehensive income (loss) |  | $ | (35,450) |  |  | $ | 20,575 |  |  | $ | (14,875) |  |  | $ | (575) |  |  | $ | 4,688 |  |  | $ | 4,113 |
Less: Comprehensive income (loss) attributable to noncontrolling interest, net of income tax |  | $ | 13 |  |  | $ | (2) |  |  | $ | 11 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 24 |
Comprehensive income (loss) attributable to MetLife, Inc. |  | $ | (35,463) |  |  | $ | 20,577 |  |  | $ | (14,886) |  |  | $ | (599) |  |  | $ | 4,688 |  |  | $ | 4,089 |
The following table presents the effects of the retrospective application of the adoption of the new LDTI accounting guidance to the Company’s previously reported consolidated statements of equity:
|  |  |  |  |  |  |  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption
|  |  |  |  |  |  |  | (In millions)
Retained Earnings |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  |  |  |  |  |  | $ | 36,491 |  |  | $ | — |  |  | $ | 36,491 |
Cumulative effects of changes in accounting principles, net of income tax |  |  |  |  |  |  |  | $ | — |  |  | $ | (4,667) |  |  | $ | (4,667) |
Net income (loss) |  |  |  |  |  |  |  | $ | 6,554 |  |  | $ | 301 |  |  | $ | 6,855 |
Balance at December 31, 2021 |  |  |  |  |  |  |  | $ | 41,197 |  |  | $ | (4,366) |  |  | $ | 36,831 |
Net income (loss) |  |  |  |  |  |  |  | $ | 2,539 |  |  | $ | 2,745 |  |  | $ | 5,284 |
Balance at December 31, 2022 |  |  |  |  |  |  |  | $ | 41,953 |  |  | $ | (1,621) |  |  | $ | 40,332 |
Accumulated Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  |  |  |  |  |  | $ | 18,072 |  |  | $ | — |  |  | $ | 18,072 |
Cumulative effects of changes in accounting principles, net of income tax |  |  |  |  |  |  |  | $ | — |  |  | $ | (17,757) |  |  | $ | (17,757) |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (7,153) |  |  | $ | 4,387 |  |  | $ | (2,766) |
Balance at December 31, 2021 |  |  |  |  |  |  |  | $ | 10,919 |  |  | $ | (13,370) |  |  | $ | (2,451) |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (38,002) |  |  | $ | 17,832 |  |  | $ | (20,170) |
Balance at December 31, 2022 |  |  |  |  |  |  |  | $ | (27,083) |  |  | $ | 4,462 |  |  | $ | (22,621) |
Total MetLife, Inc.’s Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  |  |  |  |  |  | $ | 74,558 |  |  | $ | — |  |  | $ | 74,558 |
Cumulative effects of changes in accounting principles, net of income tax |  |  |  |  |  |  |  | $ | — |  |  | $ | (22,424) |  |  | $ | (22,424) |
Net income (loss) |  |  |  |  |  |  |  | $ | 6,554 |  |  | $ | 301 |  |  | $ | 6,855 |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (7,153) |  |  | $ | 4,387 |  |  | $ | (2,766) |
Balance at December 31, 2021 |  |  |  |  |  |  |  | $ | 67,482 |  |  | $ | (17,736) |  |  | $ | 49,746 |
Net income (loss) |  |  |  |  |  |  |  | $ | 2,539 |  |  | $ | 2,745 |  |  | $ | 5,284 |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (38,002) |  |  | $ | 17,832 |  |  | $ | (20,170) |
Balance at December 31, 2022 |  |  |  |  |  |  |  | $ | 27,040 |  |  | $ | 2,841 |  |  | $ | 29,881 |
Noncontrolling Interests |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2021 |  |  |  |  |  |  |  | $ | 267 |  |  | $ | — |  |  | $ | 267 |
Change in equity of noncontrolling interests |  |  |  |  |  |  |  | $ | (33) |  |  | $ | (1) |  |  | $ | (34) |
Net income (loss) |  |  |  |  |  |  |  | $ | 19 |  |  | $ | (1) |  |  | $ | 18 |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (6) |  |  | $ | (1) |  |  | $ | (7) |
Balance at December 31, 2022 |  |  |  |  |  |  |  | $ | 247 |  |  | $ | (3) |  |  | $ | 244 |
Total Equity |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  |  |  |  |  |  | $ | 74,817 |  |  | $ | — |  |  | $ | 74,817 |
Cumulative effects of changes in accounting principles, net of income tax |  |  |  |  |  |  |  | $ | — |  |  | $ | (22,424) |  |  | $ | (22,424) |
Net income (loss) |  |  |  |  |  |  |  | $ | 6,575 |  |  | $ | 301 |  |  | $ | 6,876 |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (7,150) |  |  | $ | 4,387 |  |  | $ | (2,763) |
Balance at December 31, 2021 |  |  |  |  |  |  |  | $ | 67,749 |  |  | $ | (17,736) |  |  | $ | 50,013 |
Change in equity of noncontrolling interests |  |  |  |  |  |  |  | $ | (33) |  |  | $ | (1) |  |  | $ | (34) |
Net income (loss) |  |  |  |  |  |  |  | $ | 2,558 |  |  | $ | 2,744 |  |  | $ | 5,302 |
Other comprehensive income (loss), net of income tax |  |  |  |  |  |  |  | $ | (38,008) |  |  | $ | 17,831 |  |  | $ | (20,177) |
Balance at December 31, 2022 |  |  |  |  |  |  |  | $ | 27,287 |  |  | $ | 2,838 |  |  | $ | 30,125 |
The following table presents the effects of the retrospective application of the adoption of the new LDTI accounting guidance to the Company’s previously reported consolidated statements of cash flows:
| December 31,
|  | 2022 |  | 2021
|  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption |  | As Previously Reported |  | Adoption Adjustment |  | Post Adoption
| (In millions)
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 2,558 |  |  | $ | 2,744 |  |  | $ | 5,302 |  |  | $ | 6,575 |  |  | $ | 301 |  |  | $ | 6,876 |
Amortization of premiums and accretion of discounts associated with investments, net |  | $ | (960) |  |  | $ | (32) |  |  | $ | (992) |  |  | $ | (855) |  |  | $ | (19) |  |  | $ | (874) |
(Gains) losses on investments and from sales of businesses, net |  | $ | 1,262 |  |  | $ | (2) |  |  | $ | 1,260 |  |  | $ | (1,529) |  |  | $ | (14) |  |  | $ | (1,543) |
(Gains) losses on derivatives, net |  | $ | 4,317 |  |  | $ | (167) |  |  | $ | 4,150 |  |  | $ | 4,190 |  |  | $ | 486 |  |  | $ | 4,676 |
Interest credited to policyholder account balances |  | $ | 3,737 |  |  | $ | 34 |  |  | $ | 3,771 |  |  | $ | 5,490 |  |  | $ | 138 |  |  | $ | 5,628 |
Universal life and investment-type product policy fees |  | $ | (3,970) |  |  | $ | 1 |  |  | $ | (3,969) |  |  | $ | (3,638) |  |  | $ | (25) |  |  | $ | (3,663) |
Change in premiums, reinsurance and other receivables |  | $ | 256 |  |  | $ | 43 |  |  | $ | 299 |  |  | $ | 389 |  |  | $ | (27) |  |  | $ | 362 |
Change in market risk benefits |  | $ | — |  |  | $ | (3,347) |  |  | $ | (3,347) |  |  | $ | — |  |  | $ | (839) |  |  | $ | (839) |
Change in deferred policy acquisition costs and value of business acquired, net |  | $ | (568) |  |  | $ | (232) |  |  | $ | (800) |  |  | $ | (106) |  |  | $ | (602) |  |  | $ | (708) |
Change in income tax |  | $ | (591) |  |  | $ | 789 |  |  | $ | 198 |  |  | $ | 598 |  |  | $ | 258 |  |  | $ | 856 |
Change in other assets |  | $ | 27 |  |  | $ | 111 |  |  | $ | 138 |  |  | $ | (681) |  |  | $ | (327) |  |  | $ | (1,008) |
Change in insurance-related liabilities and policy-related balances |  | $ | 4,058 |  |  | $ | (121) |  |  | $ | 3,937 |  |  | $ | 4,553 |  |  | $ | 449 |  |  | $ | 5,002 |
Change in other liabilities |  | $ | 341 |  |  | $ | 19 |  |  | $ | 360 |  |  | $ | 71 |  |  | $ | (3) |  |  | $ | 68 |
Other, net |  | $ | 245 |  |  | $ | — |  |  | $ | 245 |  |  | $ | 138 |  |  | $ | (25) |  |  | $ | 113 |
Net cash provided by (used in) operating activities |  | $ | 13,204 |  |  | $ | (160) |  |  | $ | 13,044 |  |  | $ | 12,596 |  |  | $ | (249) |  |  | $ | 12,347 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Policyholder account balances - deposits |  | $ | 103,036 |  |  | $ | 865 |  |  | $ | 103,901 |  |  | $ | 96,367 |  |  | $ | 839 |  |  | $ | 97,206 |
Policyholder account balances - withdrawals |  | $ | (97,886) |  |  | $ | (705) |  |  | $ | (98,591) |  |  | $ | (92,540) |  |  | $ | (590) |  |  | $ | (93,130) |
Net cash provided by (used in) financing activities |  | $ | (10,108) |  |  | $ | 160 |  |  | $ | (9,948) |  |  | $ | (1,375) |  |  | $ | 249 |  |  | $ | (1,126) |
The LDTI transition adjustments related to traditional and limited-payment contracts, DPLs, and additional insurance liabilities, as well as the associated ceded recoverables, as described in Note 1, were as follows at the Transition Date:
|  | RIS Annuities |  | Asia Whole and Term Life & Endowments |  | Asia Accident & Health |  | Latin America Fixed Annuities |  | MetLife Holdings Long-Term Care |  | MetLife Holdings Participating Life |  | Other Long-Duration |  | Short-Duration and Other |  | Total
|  | (In millions)
Balance, future policy benefits, at December 31, 2020 |  | $ | 66,030 |  |  | $ | 17,990 |  |  | $ | 16,330 |  |  | $ | 8,393 |  |  | $ | 14,281 |  |  | $ | 51,148 |  |  | $ | 19,128 |  |  | $ | 13,356 |  |  | $ | 206,656 |
Removal of additional insurance liabilities for separate presentation (1) |  | (4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,561) |  |  | — |  |  | (6,565) |
Subtotal - pre-adoption balance, excluding additional liabilities |  | 66,026 |  |  | 17,990 |  |  | 16,330 |  |  | 8,393 |  |  | 14,281 |  |  | 51,148 |  |  | 12,567 |  |  | 13,356 |  |  | 200,091 |
Removal of related amounts in AOCI |  | (5,914) |  |  | — |  |  | — |  |  | (295) |  |  | (1,210) |  |  | — |  |  | (492) |  |  | — |  |  | (7,911) |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (176) |  |  | — |  |  | (176) |
Adjustment of future policy benefits to remeasure cohorts where net premiums exceed gross premiums under the modified retrospective approach |  | 337 |  |  | 51 |  |  | 154 |  |  | 121 |  |  | — |  |  | — |  |  | 56 |  |  | — |  |  | 719 |
Effect of remeasurement of future policy benefits to an upper-medium grade discount rate |  | 15,834 |  |  | 4,386 |  |  | 285 |  |  | 2,869 |  |  | 8,270 |  |  | — |  |  | 2,475 |  |  | — |  |  | 34,119 |
Other balance sheet reclassifications and adjustments upon adoption of the LDTI standard |  | (7,416) |  |  | 4 |  |  | 47 |  |  | (1) |  |  | — |  |  | — |  |  | (124) |  |  | — |  |  | (7,490) |
Removal of remeasured deferred profit liabilities for separate presentation (1) |  | (2,897) |  |  | (225) |  |  | (691) |  |  | (570) |  |  | — |  |  | — |  |  | (275) |  |  | — |  |  | (4,658) |
Balance, traditional and limited-payment contracts, at January 1, 2021 |  | $ | 65,970 |  |  | $ | 22,206 |  |  | $ | 16,125 |  |  | $ | 10,517 |  |  | $ | 21,341 |  |  | $ | 51,148 |  |  | $ | 14,031 |  |  | $ | 13,356 |  |  | $ | 214,694 |
Balance, deferred profit liabilities at January 1, 2021 |  | $ | 2,897 |  |  | $ | 225 |  |  | $ | 691 |  |  | $ | 570 |  |  | $ | — |  |  | $ | — |  |  | $ | 275 |  |  | $ | — |  |  | $ | 4,658 |
Balance, ceded recoverables on traditional and limited-payment contracts at December 31, 2020 |  | $ | 203 |  |  | $ | — |  |  | $ | 32 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1,052 |  |  |  |  | $ | 1,287 |
Effect of remeasurement of the ceded recoverable to an upper-medium grade discount rate |  | 135 |  |  | (15) |  |  | (66) |  |  | — |  |  | — |  |  |  |  | 297 |  |  |  |  | 351 |
Adjustments for loss contracts (with net premiums in excess of gross premiums) under the modified retrospective approach |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 32 |  |  |  |  | 32 |
Adjustments for the cumulative effect of adoption on ceded recoverables on traditional and limited-payment contract |  | 6 |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  |  |  | 10 |  |  |  |  | 14 |
Balance ceded recoverables on traditional and limited-payment contracts at January 1, 2021 |  | $ | 344 |  |  | $ | (15) |  |  | $ | (36) |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1,391 |  |  |  |  | $ | 1,684 |
__________________ (1) LDTI requires separate disaggregated rollforwards of the additional insurance liabilities balance and the traditional and limited-payment FPBs. Therefore, the additional insurance liabilities and DPL amounts that are recorded in the FPB financial statement line item are removed to derive the opening balance of traditional and limited-payment contracts at the Transition Date.
|  | Asia Variable Life |  | Asia Universal and Variable Universal Life |  | MetLife Holdings Universal and Variable Universal Life |  | Other Long-Duration |  | Total
|  | (In millions)
Additional insurance liabilities at December 31, 2020 |  | $ | 1,824 |  |  | $ | 788 |  |  | $ | 1,976 |  |  | $ | 1,977 |  |  | $ | 6,565 |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  | — |  |  | — |  |  | — |  |  | (1,642) |  |  | (1,642) |
Adjustments for the cumulative effect of adoption on additional insurance liabilities |  | — |  |  | — |  |  | 38 |  |  | 45 |  |  | 83 |
Additional insurance liabilities at January 1, 2021 |  | $ | 1,824 |  |  | $ | 788 |  |  | $ | 2,014 |  |  | $ | 380 |  |  | $ | 5,006 |
Ceded recoverables on additional insurance liabilities at December 31, 2020 |  | $ | — |  |  | $ | — |  |  | $ | 719 |  |  | $ | 8 |  |  | $ | 727 |
Reclassification of carrying amounts of contracts and contract features that are reinsured market risk benefits |  | — |  |  | — |  |  | — |  |  | (8) |  |  | (8) |
Adjustments for the cumulative effect of adoption on ceded recoverables on additional insurance liabilities |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Ceded recoverables on additional insurance liabilities at January 1, 2021 |  | $ | — |  |  | $ | — |  |  | $ | 720 |  |  | $ | — |  |  | $ | 720 |
Balance, traditional and limited-payment contracts, at January 1, 2021 |  |  |  |  |  |  |  |  |  | $ | 214,694 |
Balance, deferred profit liabilities at January 1, 2021 |  |  |  |  |  |  |  |  |  | 4,658 |
Balance, additional insurance liabilities at January 1, 2021 |  |  |  |  |  |  |  |  |  | 5,006 |
Total future policy benefits at January 1, 2021 |  |  |  |  |  |  |  |  |  | $ | 224,358 |
The LDTI transition adjustments related to PABs, as described in Note 1, were as follows at the Transition Date:
|  | Group Benefits Group Life |  | RIS Capital Markets Investment Products and Stable Value GICs |  | RIS Annuities and Risk Solutions |  | Asia Universal and Variable Universal Life |  | Asia Fixed Annuities |  | EMEA Variable Annuities |  | MetLife Holdings Annuities |  | MetLife Holdings Life and Other |  | Other |  | Total
|  | (In millions)
Balance at December 31, 2020 |  | $ | 7,586 |  |  | $ | 62,908 |  |  | $ | 6,250 |  |  | $ | 43,868 |  |  | $ | 31,422 |  |  | $ | 4,777 |  |  | $ | 15,727 |  |  | $ | 13,129 |  |  | $ | 19,509 |  |  | $ | 205,176 |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  | — |  |  | — |  |  | (24) |  |  | — |  |  | — |  |  | 2 |  |  | (493) |  |  | (273) |  |  | (170) |  |  | (958) |
Other balance sheet reclassifications upon adoption of the LDTI standard |  | — |  |  | — |  |  | 7,417 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 102 |  |  | 7,519 |
Balance at January 1, 2021 |  | $ | 7,586 |  |  | $ | 62,908 |  |  | $ | 13,643 |  |  | $ | 43,868 |  |  | $ | 31,422 |  |  | $ | 4,779 |  |  | $ | 15,234 |  |  | $ | 12,856 |  |  | $ | 19,441 |  |  | $ | 211,737 |
The LDTI transition adjustments related to MRB liabilities, as described in Note 1, were as follows at the Transition Date:
|  | Asia Retirement Assurance |  | MetLife Holdings Annuities |  | Other |  | Total
|  | (In millions)
Direct and assumed MRB liabilities at December 31, 2020 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  | 247 |  |  | 2,291 |  |  | 251 |  |  | 2,789 |
Adjustments for the cumulative effect of changes in nonperformance risk between contract issue date and Transition Date |  | (7) |  |  | (54) |  |  | (38) |  |  | (99) |
Adjustments for the difference between the fair value of the MRB balance, excluding the cumulative effect of changes in nonperformance risk, and the historical carrying value |  | 78 |  |  | 4,764 |  |  | 369 |  |  | 5,211 |
Direct and assumed MRB liabilities at January 1, 2021 |  | $ | 318 |  |  | $ | 7,001 |  |  | $ | 582 |  |  | $ | 7,901 |
Reinsured MRB assets at December 31, 2020 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  | — |  |  | — |  |  | 63 |  |  | 63 |
Adjustments for the difference between previous carrying amounts and fair value measurements |  | — |  |  | — |  |  | (12) |  |  | $ | (12) |
Reinsured MRB assets at January 1, 2021 (1) |  | $ | — |  |  | $ | — |  |  | $ | 51 |  |  | $ | 51 |
__________________ (1)Reinsured MRB assets are classified within premiums, reinsurance and other receivables on the consolidated balance sheets. The transition adjustments related to DAC, VOBA, UREV and negative VOBA, as described in Note 1, were as follows at the Transition Date:
| Group Benefits (1) |  | RIS (1) |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total
| (In millions)
DAC: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 | $ | 279 |  |  | $ | 130 |  |  | $ | 7,432 |  |  | $ | 1,344 |  |  | $ | 1,551 |  |  | $ | 2,679 |  |  | $ | 31 |  |  | $ | 13,446 |
Removal of related amounts in AOCI | — |  |  | — |  |  | 2,309 |  |  | 50 |  |  | — |  |  | 1,621 |  |  | — |  |  | 3,980 |
Other adjustments upon adoption of the LDTI standard | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | 11 |  |  | — |  |  | 25 |
Balance at January 1, 2021 | $ | 279 |  |  | $ | 130 |  |  | $ | 9,741 |  |  | $ | 1,394 |  |  | $ | 1,565 |  |  | $ | 4,311 |  |  | $ | 31 |  |  | $ | 17,451 |
VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 | $ | — |  |  | $ | 25 |  |  | $ | 1,901 |  |  | $ | 748 |  |  | $ | 236 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 2,943 |
Removal of related amounts in AOCI | — |  |  | — |  |  | 14 |  |  | 8 |  |  | — |  |  | 5 |  |  | — |  |  | 27 |
Other adjustments upon adoption of the LDTI standard | — |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | — |  |  | — |  |  | (4) |
Balance at January 1, 2021 | $ | — |  |  | $ | 25 |  |  | $ | 1,915 |  |  | $ | 756 |  |  | $ | 232 |  |  | $ | 38 |  |  | $ | — |  |  | $ | 2,966 |
UREV: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 | $ | — |  |  | $ | 42 |  |  | $ | 587 |  |  | $ | 740 |  |  | $ | 556 |  |  | $ | 188 |  |  | $ | — |  |  | $ | 2,113 |
Removal of related amounts in AOCI | — |  |  | — |  |  | 1,029 |  |  | 95 |  |  | (81) |  |  | — |  |  | — |  |  | 1,043 |
Other adjustments upon adoption of the LDTI standard | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
Balance at January 1, 2021 | $ | — |  |  | $ | 42 |  |  | $ | 1,616 |  |  | $ | 835 |  |  | $ | 482 |  |  | $ | 188 |  |  | $ | — |  |  | $ | 3,163 |
Negative VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 738 |
Reclassification of carrying amounts of contracts and contract features that are market risk benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (72) |
Balance at January 1, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 666 |
__________________ (1)See Note 2 for information on the reorganization of the Company’s segments.

X
- Definition Summary of Market Data and Spreads Applied to Determine Upper-Medium Grade Discount Rate + References No definition available. + Details
Name: | met_SummaryOfMarketDataAndSpreadsAppliedToDetermineUpperMediumGradeDiscountRateTableTextBlock
Namespace Prefix: | met_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-12 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-13 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration