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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2023 | Dec. 31, 2022
Income Tax Disclosure [Abstract] |  |
Provision for income tax from continuing operations | The provision for income tax was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Current: |  |  |  |  |
U.S. federal | $ | 381 |  |  | $ | 159 |  |  | $ | 62 |
U.S. state and local | 46 |  |  | 45 |  |  | 38 |
Non-U.S. | 1,240 |  |  | 1,074 |  |  | 795 |
Subtotal | 1,667 |  |  | 1,278 |  |  | 895 |
Deferred: |  |  |  |  |
U.S. federal | (591) |  |  | 1,234 |  |  | 872 |
U.S. state and local | (4) |  |  | — |  |  | (2) |
Non-U.S. | (512) |  |  | (1,450) |  |  | (123) |
Subtotal | (1,107) |  |  | (216) |  |  | 747 |
Provision for income tax expense (benefit) | $ | 560 |  |  | $ | 1,062 |  |  | $ | 1,642 |
Income (loss) from continuing operations before income tax expense (benefit) from domestic and foreign operations | The Company’s income (loss) before income tax expense (benefit) was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Income (loss): |  |  |  |  |
U.S. | $ | (95) |  |  | $ | 5,785 |  |  | $ | 4,924 |
Non-U.S. | 2,257 |  |  | 579 |  |  | 3,594 |
Total | $ | 2,162 |  |  | $ | 6,364 |  |  | $ | 8,518 |
Income tax for continuing operations effective rate reconciliation |  | The reconciliation of the income tax provision at the U.S. statutory rate to the provision for income tax as reported was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Tax provision at U.S. statutory rate | $ | 454 |  |  | $ | 1,337 |  |  | $ | 1,789 |
Tax effect of: |  |  |  |  |
Dividend received deduction | (18) |  |  | (20) |  |  | (40) |
Tax-exempt income | (34) |  |  | 15 |  |  | (36) |
Prior year tax (1) | (12) |  |  | (15) |  |  | (127) |
Low income housing tax credits | (116) |  |  | (143) |  |  | (178) |
Other tax credits | (39) |  |  | (44) |  |  | (46) |
Foreign tax rate differential (2), (3), (4) | 312 |  |  | (85) |  |  | 275 |
Changes in tax law (5) | (198) |  |  | — |  |  | — |
Change in valuation allowance (5) | 187 |  |  | — |  |  | 1 |
Other, net | 24 |  |  | 17 |  |  | 4 |
Provision for income tax expense (benefit) | $ | 560 |  |  | $ | 1,062 |  |  | $ | 1,642 |
__________________ (1)As discussed further below, prior year tax primarily includes non-cash benefits related to uncertain tax positions of $32 million and $117 million for the years ended December 31, 2022 and 2021, respectively. (2)For the year ended December 31, 2023, foreign tax rate differential includes tax charges of $28 million related to the pending disposition of MetLife Malaysia and $22 million related to the U.S. tax on Global Intangible Low-Taxed Income (“GILTI”) of which $28 million is a current year charge, offset by a $6 million tax benefit revising the 2022 estimate. See Note 3 for further information on the Company’s business dispositions. (3)For the year ended December 31, 2022, foreign tax rate differential includes tax charges of $12 million related to the U.S. tax on GILTI of which $33 million is a current year charge, offset by a $21 million tax benefit revising the 2021 estimate. (4)For the year ended December 31, 2021, foreign tax rate differential includes tax charges of $50 million related to the disposition of MetLife Poland and Greece, $41 million related to the sale of MetLife Seguros and $30 million related to the U.S. tax on GILTI, which included a $42 million 2021 charge, offset by a $12 million tax benefit revising the 2020 estimate. See Note 3 for information on the Company’s business dispositions. (5)For the year ended December 31, 2023, changes in tax law include tax benefits of $198 million and a change in valuation allowance includes a tax charge of $198 million related to adjustments of deferred taxes due to the enactment of the Bermuda Corporate Income Tax (“BCIT”), as discussed further below.
Components of deferred tax assets and liabilities | Deferred income tax represents the tax effect of the differences between the book and tax bases of assets and liabilities. Net deferred income tax assets and liabilities consisted of the following at:
| December 31,
| 2023 |  | 2022
| (In millions)
Deferred income tax assets: |  |  |
Policyholder liabilities and receivables | $ | 3,476 |  |  | $ | 758 |
Net operating loss carryforwards (1) | 256 |  |  | 238 |
Employee benefits | 523 |  |  | 475 |
Capital loss carryforwards | 29 |  |  | 15 |
Tax credit carryforwards (2) | 82 |  |  | 590 |
Net unrealized investment losses | 4,308 |  |  | 5,946 |
Litigation-related and government mandated | 101 |  |  | 90 |
Other | 393 |  |  | 67 |
Total gross deferred income tax assets | 9,168 |  |  | 8,179 |
Less: Valuation allowance (1) | 496 |  |  | 291 |
Total net deferred income tax assets | 8,672 |  |  | 7,888 |
Deferred income tax liabilities: |  |  |
Investments, including derivatives | 2,054 |  |  | 1,691 |
Intangibles | 1,004 |  |  | 1,096 |
DAC | 3,929 |  |  | 3,612 |
Total deferred income tax liabilities | 6,987 |  |  | 6,399 |
Net deferred income tax asset (liability) | $ | 1,685 |  |  | $ | 1,489 |
__________________ (1)The Company has recorded a deferred tax asset of $256 million related to U.S. state and non-U.S. net operating loss carryforwards and an offsetting valuation allowance for the year ended December 31, 2023. Certain net operating loss carryforwards will expire between 2024 and 2042, whereas others have an unlimited carryforward period. The Company’s deferred tax asset for the year ended December 31, 2023 includes $198 million recognized due to the BCIT with an offsetting valuation allowance as management believes it is more likely than not that the deferred tax asset will not be realized. (2)Tax credit carryforwards for the year ended December 31, 2023 primarily reflect foreign tax credits which have no expiration date. |
Reconciliation of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Balance at January 1, | $ | 129 |  |  | $ | 163 |  |  | $ | 272 |
Additions for tax positions of prior years | 27 |  |  | 42 |  |  | 19 |
Reductions for tax positions of prior years (1) | (30) |  |  | (93) |  |  | (112) |
Additions for tax positions of current year | 5 |  |  | 22 |  |  | 5 |
Reductions for tax positions of current year | — |  |  | (3) |  |  | (18) |
Settlements with tax authorities | — |  |  | (2) |  |  | (3) |
Balance at December 31, | $ | 131 |  |  | $ | 129 |  |  | $ | 163 |
Unrecognized tax benefits that, if recognized, would impact the effective rate | $ | 90 |  |  | $ | 80 |  |  | $ | 103 |
__________________ (1) For the years ended December 31, 2022 and 2021, primarily includes reductions related to non-cash benefits from tax audit settlements. Interest was as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Interest expense (benefit) recognized on the consolidated statements of operations (1) | $ | 7 |  |  | $ | — |  |  | $ | (36) |
|  |  | December 31,
|  |  | 2023 |  | 2022
|  |  | (In millions)
Interest included in other liabilities on the consolidated balance sheets |  |  | $ | 22 |  |  | $ | 15 |
__________________ (1) For the year ended December 31, 2021, the interest benefit is primarily related to a tax audit settlement of $10 million which was recorded in other expenses and a reclassification of $26 million to current income tax payable. |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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