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Deferred Policy Acquisition Costs, Value of Business Acquired and Unearned Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract] |
Deferred Policy Acquisition Costs | Information regarding total deferred policy acquisition costs (“DAC”) and value of business acquired (“VOBA”) by segment, as well as Corporate & Other, was as follows at:
| Group Benefits |  | RIS |  | Asia (1) |  | Latin America (2) |  | EMEA (2) |  | MetLife Holdings (3) |  | Corporate & Other |  | Total |
| (In millions) |
DAC: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2024 | $ | 258 |  |  | $ | 397 |  |  | $ | 10,864 |  |  | $ | 1,950 |  |  | $ | 1,618 |  |  | $ | 3,271 |  |  | $ | 30 |  |  | $ | 18,388 |  |
Capitalizations | 4 |  |  | 61 |  |  | 361 |  |  | 178 |  |  | 128 |  |  | 5 |  |  | 3 |  |  | 740 |  |
Amortization | (6) |  |  | (14) |  |  | (190) |  |  | (114) |  |  | (87) |  |  | (58) |  |  | (2) |  |  | (471) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (361) |  |  | (14) |  |  | (41) |  |  | — |  |  | (3) |  |  | (419) |  |
Balance at March 31, 2024 | $ | 256 |  |  | $ | 444 |  |  | $ | 10,674 |  |  | $ | 2,000 |  |  | $ | 1,618 |  |  | $ | 3,218 |  |  | $ | 28 |  |  | $ | 18,238 |  |
Balance at January 1, 2023 | $ | 265 |  |  | $ | 267 |  |  | $ | 10,270 |  |  | $ | 1,542 |  |  | $ | 1,480 |  |  | $ | 3,791 |  |  | $ | 29 |  |  | $ | 17,644 |  |
Capitalizations | 6 |  |  | 45 |  |  | 401 |  |  | 151 |  | 108 |  |  | 6 |  |  | 1 |  |  | 718 |  |
Amortization | (6) |  |  | (10) |  |  | (168) |  |  | (93) |  |  | (81) |  |  | (67) |  |  | (1) |  |  | (426) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (89) |  |  | 108 |  |  | 22 |  |  | — |  |  | 1 |  |  | 42 |  |
Balance at March 31, 2023 | $ | 265 |  |  | $ | 302 |  |  | $ | 10,414 |  |  | $ | 1,708 |  |  | $ | 1,529 |  |  | $ | 3,730 |  |  | $ | 30 |  |  | $ | 17,978 |  |
VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2024 | $ | — |  |  | $ | 16 |  |  | $ | 1,119 |  |  | $ | 497 |  |  | $ | 113 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 1,763 |  |
Amortization | — |  |  | (1) |  |  | (20) |  |  | (11) |  |  | (4) |  |  | (1) |  |  | — |  |  | (37) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (76) |  |  | (44) |  |  | (2) |  |  | — |  |  | — |  |  | (122) |  |
Balance at March 31, 2024 | $ | — |  |  | $ | 15 |  |  | $ | 1,023 |  |  | $ | 442 |  |  | $ | 107 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 1,604 |  |
Balance at January 1, 2023 | $ | — |  |  | $ | 19 |  |  | $ | 1,290 |  |  | $ | 545 |  |  | $ | 127 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 2,009 |  |
Amortization | — |  |  | (1) |  |  | (25) |  |  | (13) |  |  | (4) |  |  | (1) |  |  | — |  |  | (44) |  |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (11) |  |  | 42 |  |  | 2 |  |  | — |  |  | — |  |  | 33 |  |
Balance at March 31, 2023 | $ | — |  |  | $ | 18 |  |  | $ | 1,254 |  |  | $ | 574 |  |  | $ | 125 |  |  | $ | 27 |  |  | $ | — |  |  | $ | 1,998 |  |
Total DAC and VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,842 |  |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,976 |  |
Balance at December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 20,151 |  |
__________________ (1)Includes DAC balances primarily related to accident & health, universal and variable universal life, variable life and fixed annuity products and VOBA balances primarily related to accident & health products. (2)Includes DAC balances primarily related to universal life and variable universal life products. (3)Includes DAC balances primarily related to universal life, variable universal life, whole life, term life and variable annuity products.
Unearned Revenue | Information regarding the Company’s unearned revenue primarily related to universal life and variable universal life products by segment included in other policy-related balances was as follows:
|  | Three Months Ended March 31, 2024
|  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Total
|  | (In millions)
Balance, beginning of period |  | $ | 31 |  |  | $ | 2,850 |  |  | $ | 989 |  |  | $ | 608 |  |  | $ | 59 |  |  | $ | 4,537 |
Deferrals |  | 1 |  |  | 152 |  |  | 37 |  |  | 25 |  |  | 3 |  |  | 218 |
Amortization |  | (2) |  |  | (52) |  |  | (30) |  |  | (17) |  |  | (1) |  |  | (102) |
Effect of foreign currency translation and other, net |  | — |  |  | (31) |  |  | 4 |  |  | (14) |  |  | — |  |  | (41) |
Balance, end of period |  | $ | 30 |  |  | $ | 2,919 |  |  | $ | 1,000 |  |  | $ | 602 |  |  | $ | 61 |  |  | $ | 4,612 |
|  | Three Months Ended March 31, 2023
|  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Total
|  | (In millions)
Balance, beginning of period |  | $ | 36 |  |  | $ | 2,382 |  |  | $ | 848 |  |  | $ | 559 |  |  | $ | 281 |  |  | $ | 4,106 |
Deferrals |  | 1 |  |  | 105 |  |  | 33 |  |  | 23 |  |  | 14 |  |  | 176 |
Amortization |  | (2) |  |  | (40) |  |  | (28) |  |  | (15) |  |  | (6) |  |  | (91) |
Effect of foreign currency translation and other, net |  | — |  |  | (16) |  |  | 67 |  |  | 8 |  |  | — |  |  | 59 |
Balance, end of period |  | $ | 35 |  |  | $ | 2,431 |  |  | $ | 920 |  |  | $ | 575 |  |  | $ | 289 |  |  | $ | 4,250 |

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