XML 53 R17.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Deferred Policy Acquisition Costs, Value of Business Acquired, Unearned Revenue and Other Intangibles | 12 Months Ended
--- | ---
Dec. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract] |
Intangible Assets and Liabilities and Unearned Revenue excluding Goodwill [Text Block] | 8. Deferred Policy Acquisition Costs, Value of Business Acquired, Unearned Revenue and Other Intangibles DAC and VOBA Information regarding total DAC and 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, 2022 | $ | 272 |  |  | $ | 191 |  |  | $ | 10,058 |  |  | $ | 1,361 |  |  | $ | 1,472 |  |  | $ | 4,029 |  |  | $ | 32 |  |  | $ | 17,415 |
Capitalizations | 18 |  |  | 113 |  |  | 1,530 |  |  | 494 |  |  | 422 |  |  | 29 |  |  | 8 |  |  | 2,614 |
Amortization | (26) |  |  | (37) |  |  | (644) |  |  | (361) |  |  | (311) |  |  | (267) |  |  | (9) |  |  | (1,655) |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (674) |  |  | 48 |  |  | (103) |  |  | — |  |  | (1) |  |  | (730) |
Balance at December 31, 2022 | 264 |  |  | 267 |  |  | 10,270 |  |  | 1,542 |  |  | 1,480 |  |  | 3,791 |  |  | 30 |  |  | 17,644 |
Capitalizations | 20 |  |  | 176 |  |  | 1,583 |  |  | 651 |  |  | 457 |  |  | 22 |  |  | 8 |  |  | 2,917 |
Amortization | (26) |  |  | (46) |  |  | (705) |  |  | (418) |  |  | (332) |  |  | (255) |  |  | (9) |  |  | (1,791) |
Effect of foreign currency translation and other, net (4) | — |  |  | — |  |  | (284) |  |  | 175 |  |  | 13 |  |  | (287) |  |  | 1 |  |  | (382) |
Balance at December 31, 2023 | 258 |  |  | 397 |  |  | 10,864 |  |  | 1,950 |  |  | 1,618 |  |  | 3,271 |  |  | 30 |  |  | 18,388 |
Capitalizations | 18 |  |  | 218 |  |  | 1,380 |  |  | 704 |  |  | 486 |  |  | 17 |  |  | 10 |  |  | 2,833 |
Amortization | (26) |  |  | (63) |  |  | (782) |  |  | (461) |  |  | (345) |  |  | (225) |  |  | (10) |  |  | (1,912) |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (677) |  |  | (357) |  |  | (95) |  |  | — |  |  | (2) |  |  | (1,131) |
Balance at December, 31, 2024 | $ | 250 |  |  | $ | 552 |  |  | $ | 10,785 |  |  | $ | 1,836 |  |  | $ | 1,664 |  |  | $ | 3,063 |  |  | $ | 28 |  |  | $ | 18,178 |
VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1, 2022 | $ | — |  |  | $ | 22 |  |  | $ | 1,593 |  |  | $ | 591 |  |  | $ | 154 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 2,391 |
Amortization | — |  |  | (3) |  |  | (101) |  |  | (49) |  |  | (20) |  |  | (3) |  |  | — |  |  | (176) |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (202) |  |  | 3 |  |  | (7) |  |  | — |  |  | — |  |  | (206) |
Balance at December 31, 2022 | — |  |  | 19 |  |  | 1,290 |  |  | 545 |  |  | 127 |  |  | 28 |  |  | — |  |  | 2,009 |
Amortization | — |  |  | (3) |  |  | (89) |  |  | (50) |  |  | (16) |  |  | (3) |  |  | — |  |  | (161) |
Effect of foreign currency translation and other, net (4) | — |  |  | — |  |  | (82) |  |  | 2 |  |  | 2 |  |  | (7) |  |  | — |  |  | (85) |
Balance at December 31, 2023 | — |  |  | 16 |  |  | 1,119 |  |  | 497 |  |  | 113 |  |  | 18 |  |  | — |  |  | 1,763 |
Amortization | — |  |  | (3) |  |  | (71) |  |  | (42) |  |  | (14) |  |  | (4) |  |  | — |  |  | (134) |
Effect of foreign currency translation and other, net | — |  |  | — |  |  | (113) |  |  | (62) |  |  | (5) |  |  | — |  |  | — |  |  | (180) |
Balance at December 31, 2024 | $ | — |  |  | $ | 13 |  |  | $ | 935 |  |  | $ | 393 |  |  | $ | 94 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 1,449 |
Total DAC and VOBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,653 |
Balance at December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 20,151 |
Balance at December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,627 |
__________________ (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, variable universal life, ordinary life and accident & health productsIncludes DAC balances primarily related to whole life, variable annuities, term life, universal life, variable universal life and long-term care products. (4)MetLife Holdings segment includes activity for total DAC and total VOBA ceded at the date of inception related to a reinsurance agreement. See Note 9 for further information on the transaction. Significant Methodologies and Assumptions The Company amortizes DAC and VOBA related to long-duration contracts over the estimated lives of the contracts in proportion to benefits in-force for RIS annuities and policy count for all other products. The amortization amount is calculated using the same cohorts as the corresponding liabilities on a quarterly basis, using an amortization rate that includes current period reporting experience and end of period persistency and longevity assumptions that are consistent with those used to measure the corresponding liabilities. The Company amortizes DAC for credit insurance and other short-duration contracts, which is primarily comprised of commissions and certain underwriting expenses, in proportion to actual and future earned premium over the applicable contract term. Information regarding other intangibles was as follows:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (In millions)
VODA and VOCRA: |  |  |  |  |  |
Balance at January 1, |  | $ | 794 |  |  | $ | 876 |  |  | $ | 972 |
Amortization |  | (85) |  |  | (88) |  |  | (92) |
Effect of foreign currency translation and other |  | 1 |  |  | 6 |  |  | (4) |
Balance at December 31, |  | $ | 710 |  |  | $ | 794 |  |  | $ | 876 |
Accumulated amortization |  | $ | 840 |  |  | $ | 755 |  |  | $ | 667 |
Negative VOBA: |  |  |  |  |  |
Balance at January 1, |  | $ | 427 |  |  | $ | 473 |  |  | $ | 557 |
Amortization |  | (25) |  |  | (26) |  |  | (29) |
Effect of foreign currency translation and other |  | (33) |  |  | (20) |  |  | (55) |
Balance at December 31, |  | $ | 369 |  |  | $ | 427 |  |  | $ | 473 |
Accumulated amortization |  | $ | 3,423 |  |  | $ | 3,398 |  |  | $ | 3,372 |
The estimated future amortization expense (credit) to be reported in other expenses for the next five years is as follows:
|  | VOBA |  | VODA and VOCRA |  | Negative VOBA
|  | (In millions)
2025 |  | $ | 116 |  |  | $ | 81 |  |  | $ | (24) |
2026 |  | $ | 109 |  |  | $ | 80 |  |  | $ | (23) |
2027 |  | $ | 101 |  |  | $ | 78 |  |  | $ | (21) |
2028 |  | $ | 93 |  |  | $ | 75 |  |  | $ | (20) |
2029 |  | $ | 87 |  |  | $ | 73 |  |  | $ | (19) |
Unearned Revenue Information regarding the Company’s UREV primarily related to universal life and variable universal life products by segment included in other policy-related balances was as follows:
|  | RIS |  | Asia |  | Latin America |  | EMEA |  | MetLife Holdings |  | Total
|  | (In millions)
Balance at January 1, 2022 |  | $ | 38 |  |  | $ | 2,033 |  |  | $ | 795 |  |  | $ | 521 |  |  | $ | 238 |  |  | $ | 3,625 |
Deferrals |  | 5 |  |  | 546 |  |  | 134 |  |  | 111 |  |  | 60 |  |  | 856 |
Amortization |  | (7) |  |  | (144) |  |  | (116) |  |  | (59) |  |  | (17) |  |  | (343) |
Effect of foreign currency translation and other - net |  | — |  |  | (53) |  |  | 35 |  |  | (14) |  |  | — |  |  | (32) |
Balance at December 31, 2022 |  | 36 |  |  | 2,382 |  |  | 848 |  |  | 559 |  |  | 281 |  |  | 4,106 |
Deferrals |  | 2 |  |  | 667 |  |  | 147 |  |  | 95 |  |  | 48 |  |  | 959 |
Amortization |  | (7) |  |  | (181) |  |  | (116) |  |  | (63) |  |  | (18) |  |  | (385) |
Effect of foreign currency translation and other - net (1) |  | — |  |  | (18) |  |  | 110 |  |  | 17 |  |  | (252) |  |  | (143) |
Balance at December 31, 2023 |  | 31 |  |  | 2,850 |  |  | 989 |  |  | 608 |  |  | 59 |  |  | 4,537 |
Deferrals |  | 2 |  |  | 534 |  |  | 146 |  |  | 98 |  |  | 15 |  |  | 795 |
Amortization |  | (6) |  |  | (228) |  |  | (115) |  |  | (68) |  |  | (5) |  |  | (422) |
Effect of foreign currency translation and other - net |  | — |  |  | (80) |  |  | (179) |  |  | (16) |  |  | — |  |  | (275) |
Balance at December 31, 2024 |  | $ | 27 |  |  | $ | 3,076 |  |  | $ | 841 |  |  | $ | 622 |  |  | $ | 69 |  |  | $ | 4,635 |
__________________ (1)MetLife Holdings segment includes activity for total UREV ceded at the date of inception related to a reinsurance agreement. See Note 9 for further information on the transaction. Significant Methodologies and Assumptions UREV is amortized similarly to DAC and VOBA, see “— DAC and VOBA.”

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

X
- Definition The entire disclosure for cost related directly to successful acquisition of new and renewal of insurance contract. Includes, but is not limited to, deferred policy acquisition cost, deferred sale inducement cost, and present value of future profit of insurance contract acquired in business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479735/944-20-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479432/944-30-50-2A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/944-30/tableOfContent + Details
Name: | us-gaap_InsuranceContractAcquisitionCostTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration