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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment |
Year Ended December 31, 2023 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total |  | Adjustments |  | Total Consolidated
| (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 21,558 |  |  | $ | 8,248 |  |  | $ | 5,251 |  |  | $ | 4,287 |  |  | $ | 2,016 |  |  | $ | 2,881 |  |  | $ | 42 |  |  | $ | 44,283 |  |  | $ | — |  |  | $ | 44,283 |
Universal life and investment-type product policy fees |  | 878 |  |  | 313 |  |  | 1,632 |  |  | 1,398 |  |  | 298 |  |  | 632 |  |  | 1 |  |  | 5,152 |  |  | — |  |  | 5,152 |
Net investment income (1) |  | 1,301 |  |  | 7,803 |  |  | 3,957 |  |  | 1,644 |  |  | 197 |  |  | 4,494 |  |  | 353 |  |  | 19,749 |  |  | 159 |  |  | 19,908 |
Other revenues |  | 1,493 |  |  | 271 |  |  | 86 |  |  | 42 |  |  | 32 |  |  | 195 |  |  | 412 |  |  | 2,531 |  |  | (5) |  |  | 2,526 |
Net investment gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,824) |  |  | (2,824) |
Net derivative gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,140) |  |  | (2,140) |
Total revenues |  | 25,230 |  |  | 16,635 |  |  | 10,926 |  |  | 7,371 |  |  | 2,543 |  |  | 8,202 |  |  | 808 |  |  | 71,715 |  |  | (4,810) |  |  | 66,905 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,164 |  |  | 11,269 |  |  | 4,333 |  |  | 4,094 |  |  | 984 |  |  | 5,350 |  |  | 23 |  |  | 45,217 |  |  | (5) |  |  | 45,212 |
Policyholder liability remeasurement (gains) losses |  | (28) |  |  | (131) |  |  | 105 |  |  | (25) |  |  | (3) |  |  | 37 |  |  | — |  |  | (45) |  |  | — |  |  | (45) |
Market risk benefit remeasurement (gains) losses |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (994) |  |  | (994) |
Interest credited to policyholder account balances |  | 193 |  |  | 2,887 |  |  | 2,301 |  |  | 426 |  |  | 72 |  |  | 730 |  |  | — |  |  | 6,609 |  |  | 1,251 |  |  | 7,860 |
Capitalization of DAC |  | (20) |  |  | (176) |  |  | (1,583) |  |  | (651) |  |  | (457) |  |  | (22) |  |  | (8) |  |  | (2,917) |  |  | — |  |  | (2,917) |
Amortization of DAC and VOBA |  | 26 |  |  | 49 |  |  | 794 |  |  | 468 |  |  | 348 |  |  | 258 |  |  | 9 |  |  | 1,952 |  |  | — |  |  | 1,952 |
Amortization of negative VOBA |  | — |  |  | — |  |  | (22) |  |  | — |  |  | (4) |  |  | — |  |  | — |  |  | (26) |  |  | — |  |  | (26) |
Interest expense on debt |  | 2 |  |  | 14 |  |  | — |  |  | 11 |  |  | — |  |  | 13 |  |  | 1,005 |  |  | 1,045 |  |  | — |  |  | 1,045 |
Other expenses |  | 3,796 |  |  | 565 |  |  | 3,158 |  |  | 1,911 |  |  | 1,260 |  |  | 927 |  |  | 946 |  |  | 12,563 |  |  | 93 |  |  | 12,656 |
Total expenses |  | 23,133 |  |  | 14,477 |  |  | 9,086 |  |  | 6,234 |  |  | 2,200 |  |  | 7,293 |  |  | 1,975 |  |  | 64,398 |  |  | 345 |  |  | 64,743 |
Provision for income tax expense (benefit) |  | 442 |  |  | 450 |  |  | 558 |  |  | 297 |  |  | 78 |  |  | 176 |  |  | (407) |  |  | 1,594 |  |  | (1,034) |  |  | 560 |
Adjusted earnings |  | $ | 1,655 |  |  | $ | 1,708 |  |  | $ | 1,282 |  |  | $ | 840 |  |  | $ | 265 |  |  | $ | 733 |  |  | $ | (760) |  |  | 5,723 |  |  |  |  |
Adjustments to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | (4,810) |  |  |  |  |
Total expenses |  | (345) |  |  |  |  |
Provision for income tax (expense) benefit |  | 1,034 |  |  |  |  |
Net income (loss) |  | $ | 1,602 |  |  |  |  | $ | 1,602 |
At December 31, 2023 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total
|  | (In millions)
Total assets (1),(2) |  | $ | 36,715 |  |  | $ | 218,587 |  |  | $ | 157,206 |  |  | $ | 69,177 |  |  | $ | 18,596 |  |  | $ | 148,524 |  |  | $ | 38,779 |  |  | $ | 687,584 |
Separate account assets |  | $ | 1,159 |  |  | $ | 53,093 |  |  | $ | 9,187 |  |  | $ | 41,320 |  |  | $ | 4,327 |  |  | $ | 35,548 |  |  | $ | — |  |  | $ | 144,634 |
Separate account liabilities |  | $ | 1,159 |  |  | $ | 53,093 |  |  | $ | 9,187 |  |  | $ | 41,320 |  |  | $ | 4,327 |  |  | $ | 35,548 |  |  | $ | — |  |  | $ | 144,634 |
__________________ (1)Net investment income from equity method invested assets represents 0%, 1%, 4%, 1% and 2% of segment net investment income, and equity method invested assets represent 1%, 3%, 6%, 0% and 4% of segment total assets for the Group Benefits, RIS, Asia, Latin America and MetLife Holdings segments, respectively. (2)Asia segment total assets includes $132.2 billion of assets from the Company’s Japan operations which represents 19% of Company total assets.
Year Ended December 31, 2022 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total |  | Adjustments |  | Total Consolidated
|  | (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 21,051 |  |  | $ | 13,619 |  |  | $ | 5,563 |  |  | $ | 3,224 |  |  | $ | 1,962 |  |  | $ | 3,066 |  |  | $ | (16) |  |  | $ | 48,469 |  |  | $ | 41 |  |  | $ | 48,510 |
Universal life and investment-type product policy fees |  | 855 |  |  | 303 |  |  | 1,693 |  |  | 1,175 |  |  | 284 |  |  | 902 |  |  | 2 |  |  | 5,214 |  |  | 11 |  |  | 5,225 |
Net investment income (1) |  | 1,136 |  |  | 6,204 |  |  | 3,909 |  |  | 1,593 |  |  | 160 |  |  | 4,914 |  |  | 273 |  |  | 18,189 |  |  | (2,273) |  |  | 15,916 |
Other revenues |  | 1,360 |  |  | 392 |  |  | 90 |  |  | 39 |  |  | 35 |  |  | 155 |  |  | 396 |  |  | 2,467 |  |  | 163 |  |  | 2,630 |
Net investment gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,260) |  |  | (1,260) |
Net derivative gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,251) |  |  | (2,251) |
Total revenues |  | 24,402 |  |  | 20,518 |  |  | 11,255 |  |  | 6,031 |  |  | 2,441 |  |  | 9,037 |  |  | 655 |  |  | 74,339 |  |  | (5,569) |  |  | 68,770 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,076 |  |  | 16,163 |  |  | 4,564 |  |  | 3,320 |  |  | 976 |  |  | 5,636 |  |  | (6) |  |  | 49,729 |  |  | 484 |  |  | 50,213 |
Policyholder liability remeasurement (gains) losses |  | 7 |  |  | (36) |  |  | 69 |  |  | (21) |  |  | (6) |  |  | 101 |  |  | — |  |  | 114 |  |  | — |  |  | 114 |
Market risk benefit remeasurement (gains) losses |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,674) |  |  | (3,674) |
Interest credited to policyholder account balances |  | 143 |  |  | 1,914 |  |  | 2,003 |  |  | 335 |  |  | 71 |  |  | 813 |  |  | — |  |  | 5,279 |  |  | (1,385) |  |  | 3,894 |
Capitalization of DAC |  | (18) |  |  | (113) |  |  | (1,530) |  |  | (494) |  |  | (411) |  |  | (29) |  |  | (8) |  |  | (2,603) |  |  | (11) |  |  | (2,614) |
Amortization of DAC and VOBA |  | 26 |  |  | 40 |  |  | 745 |  |  | 410 |  |  | 323 |  |  | 270 |  |  | 9 |  |  | 1,823 |  |  | 8 |  |  | 1,831 |
Amortization of negative VOBA |  | — |  |  | — |  |  | (24) |  |  | — |  |  | (5) |  |  | — |  |  | — |  |  | (29) |  |  | — |  |  | (29) |
Interest expense on debt |  | 1 |  |  | 8 |  |  | — |  |  | 12 |  |  | — |  |  | 8 |  |  | 909 |  |  | 938 |  |  | — |  |  | 938 |
Other expenses |  | 3,478 |  |  | 484 |  |  | 3,153 |  |  | 1,520 |  |  | 1,171 |  |  | 953 |  |  | 709 |  |  | 11,468 |  |  | 265 |  |  | 11,733 |
Total expenses |  | 22,713 |  |  | 18,460 |  |  | 8,980 |  |  | 5,082 |  |  | 2,119 |  |  | 7,752 |  |  | 1,613 |  |  | 66,719 |  |  | (4,313) |  |  | 62,406 |
Provision for income tax expense (benefit) |  | 357 |  |  | 423 |  |  | 658 |  |  | 220 |  |  | 73 |  |  | 254 |  |  | (343) |  |  | 1,642 |  |  | (580) |  |  | 1,062 |
Adjusted earnings |  | $ | 1,332 |  |  | $ | 1,635 |  |  | $ | 1,617 |  |  | $ | 729 |  |  | $ | 249 |  |  | $ | 1,031 |  |  | $ | (615) |  |  | 5,978 |  |  |  |  |
Adjustments to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | (5,569) |  |  |  |  |
Total expenses |  | 4,313 |  |  |  |  |
Provision for income tax (expense) benefit |  | 580 |  |  |  |  |
Net income (loss) |  | $ | 5,302 |  |  |  |  | $ | 5,302 |
At December 31, 2022 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total
|  | (In millions)
Total assets (2) |  | $ | 35,849 |  |  | $ | 216,370 |  |  | $ | 148,305 |  |  | $ | 63,687 |  |  | $ | 16,860 |  |  | $ | 148,749 |  |  | $ | 33,252 |  |  | $ | 663,072 |
Separate account assets |  | $ | 990 |  |  | $ | 60,040 |  |  | $ | 8,292 |  |  | $ | 39,428 |  |  | $ | 3,314 |  |  | $ | 33,974 |  |  | $ | — |  |  | $ | 146,038 |
Separate account liabilities |  | $ | 990 |  |  | $ | 60,040 |  |  | $ | 8,292 |  |  | $ | 39,428 |  |  | $ | 3,314 |  |  | $ | 33,974 |  |  | $ | — |  |  | $ | 146,038 |
__________________ (1)Net investment income from equity method invested assets represents 1%, 6%, 12%, 3% and 6% of segment net investment income for the Group Benefits, RIS, Asia, Latin America and MetLife Holdings segments, respectively. (2)Asia segment total assets includes $125.1 billion of assets from the Company’s Japan operations which represents 19% of Company total assets.
Year Ended December 31, 2021 |  | Group Benefits |  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Corporate & Other |  | Total |  | Adjustments |  | Total Consolidated
|  | (In millions)
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums |  | $ | 20,475 |  |  | $ | 5,023 |  |  | $ | 6,421 |  |  | $ | 2,609 |  |  | $ | 2,274 |  |  | $ | 3,333 |  |  | $ | 35 |  |  | $ | 40,170 |  |  | $ | 982 |  |  | $ | 41,152 |
Universal life and investment-type product policy fees |  | 829 |  |  | 311 |  |  | 1,626 |  |  | 1,140 |  |  | 387 |  |  | 923 |  |  | 2 |  |  | 5,218 |  |  | 26 |  |  | 5,244 |
Net investment income (1) |  | 1,160 |  |  | 6,888 |  |  | 5,052 |  |  | 1,271 |  |  | 215 |  |  | 6,385 |  |  | 309 |  |  | 21,280 |  |  | 115 |  |  | 21,395 |
Other revenues |  | 1,239 |  |  | 299 |  |  | 73 |  |  | 41 |  |  | 47 |  |  | 257 |  |  | 420 |  |  | 2,376 |  |  | 243 |  |  | 2,619 |
Net investment gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,543 |  |  | 1,543 |
Net derivative gains (losses) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,257) |  |  | (3,257) |
Total revenues |  | 23,703 |  |  | 12,521 |  |  | 13,172 |  |  | 5,061 |  |  | 2,923 |  |  | 10,898 |  |  | 766 |  |  | 69,044 |  |  | (348) |  |  | 68,696 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Policyholder benefits and claims and policyholder dividends |  | 19,807 |  |  | 7,330 |  |  | 5,251 |  |  | 3,155 |  |  | 1,196 |  |  | 6,118 |  |  | 34 |  |  | 42,891 |  |  | 1,107 |  |  | 43,998 |
Policyholder liability remeasurement (gains) losses |  | (5) |  |  | (31) |  |  | (152) |  |  | (33) |  |  | 32 |  |  | 16 |  |  | — |  |  | (173) |  |  | 1 |  |  | (172) |
Market risk benefit remeasurement (gains) losses |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,237) |  |  | (1,237) |
Interest credited to policyholder account balances |  | 127 |  |  | 1,550 |  |  | 1,994 |  |  | 249 |  |  | 86 |  |  | 840 |  |  | — |  |  | 4,846 |  |  | 725 |  |  | 5,571 |
Capitalization of DAC |  | (19) |  |  | (95) |  |  | (1,601) |  |  | (406) |  |  | (469) |  |  | (31) |  |  | (11) |  |  | (2,632) |  |  | (119) |  |  | (2,751) |
Amortization of DAC and VOBA |  | 26 |  |  | 37 |  |  | 786 |  |  | 372 |  |  | 361 |  |  | 320 |  |  | 9 |  |  | 1,911 |  |  | 126 |  |  | 2,037 |
Amortization of negative VOBA |  | — |  |  | — |  |  | (28) |  |  | — |  |  | (7) |  |  | — |  |  | — |  |  | (35) |  |  | — |  |  | (35) |
Interest expense on debt |  | 1 |  |  | 6 |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | 902 |  |  | 919 |  |  | 1 |  |  | 920 |
Other expenses |  | 3,177 |  |  | 455 |  |  | 3,388 |  |  | 1,385 |  |  | 1,324 |  |  | 992 |  |  | 562 |  |  | 11,283 |  |  | 564 |  |  | 11,847 |
Total expenses |  | 23,114 |  |  | 9,252 |  |  | 9,638 |  |  | 4,727 |  |  | 2,523 |  |  | 8,260 |  |  | 1,496 |  |  | 59,010 |  |  | 1,168 |  |  | 60,178 |
Provision for income tax expense (benefit) |  | 126 |  |  | 678 |  |  | 1,017 |  |  | 60 |  |  | 94 |  |  | 535 |  |  | (574) |  |  | 1,936 |  |  | (294) |  |  | 1,642 |
Adjusted earnings |  | $ | 463 |  |  | $ | 2,591 |  |  | $ | 2,517 |  |  | $ | 274 |  |  | $ | 306 |  |  | $ | 2,103 |  |  | $ | (156) |  |  | 8,098 |  |  |  |  |
Adjustments to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | (348) |  |  |  |  |
Total expenses |  | (1,168) |  |  |  |  |
Provision for income tax (expense) benefit |  | 294 |  |  |  |  |
Net income (loss) |  | $ | 6,876 |  |  |  |  | $ | 6,876 |
__________________ (1)Net investment income from equity method invested assets represents 5%, 26%, 30%, 7% and 26% of segment net investment income for the Group Benefits, RIS, Asia, Latin America and MetLife Holdings segments, respectively.
Revenue from External Customers by Products and Services | The following table presents total premiums, universal life and investment-type product policy fees and other revenues by major product groups of the Company’s segments, as well as Corporate & Other:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Life insurance | $ | 22,111 |  |  | $ | 21,728 |  |  | $ | 22,742 |
Accident & health insurance | 18,014 |  |  | 17,441 |  |  | 17,367 |
Annuities | 10,193 |  |  | 15,657 |  |  | 6,394 |
Other | 1,643 |  |  | 1,539 |  |  | 2,512 |
Total | $ | 51,961 |  |  | $ | 56,365 |  |  | $ | 49,015 |
Revenue from External Customers by Geographic Areas | The following table presents total premiums, universal life and investment-type product policy fees and other revenues associated with the Company’s U.S. and foreign operations:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
U.S. | $ | 36,869 |  |  | $ | 42,250 |  |  | $ | 34,191 |
Japan | 5,020 |  |  | 5,460 |  |  | 6,183 |
Other | 10,072 |  |  | 8,655 |  |  | 8,641 |
Total | $ | 51,961 |  |  | $ | 56,365 |  |  | $ | 49,015 |

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