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Long-term and Short-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Long-term and Short-term debt outstanding | Long-term and short-term debt outstanding was as follows:
|  |  |  |  |  |  |  |  |  |  | December 31,
|  |  |  |  |  |  |  |  | 2024 |  | 2023
| Interest Rates (1) | Maturity | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value |  | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value
|  |  |  |  |  |  |  |  |  |  | (In millions)
Senior notes | 0.50 | % |  | - |  | 6.50% |  | 2025 | - | 2059 |  | $ | 14,530 |  |  | $ | (99) |  |  | $ | 14,431 |  |  | $ | 14,622 |  |  | $ | (106) |  |  | $ | 14,516 |
Surplus notes | 7.80 | % |  | - |  | 7.80% |  | 2025 |  | 250 |  |  | — |  |  | 250 |  |  | 507 |  |  | — |  |  | 507 |
Other notes | 5.58 | % |  | - |  | 8.39% |  | 2027 | - | 2028 |  | 401 |  |  | (2) |  |  | 399 |  |  | 495 |  |  | (2) |  |  | 493 |
Financing lease obligations |  |  |  |  |  |  |  |  |  |  | 6 |  |  | — |  |  | 6 |  |  | 32 |  |  | — |  |  | 32 |
Total long-term debt |  |  |  |  |  |  |  |  |  |  | 15,187 |  |  | (101) |  |  | 15,086 |  |  | 15,656 |  |  | (108) |  |  | 15,548 |
Total short-term debt |  |  |  |  |  |  |  |  |  |  | 465 |  |  | — |  |  | 465 |  |  | 119 |  |  | — |  |  | 119 |
Total |  |  |  |  |  |  |  |  |  |  | $ | 15,652 |  |  | $ | (101) |  |  | $ | 15,551 |  |  | $ | 15,775 |  |  | $ | (108) |  |  | $ | 15,667 |
__________________ (1)Range of interest rates are for the year ended December 31, 2024.
Schedule of Short-term Debt | Short-term Debt Short-term debt with maturities of one year or less was as follows:
|  | December 31,
|  | 2024 |  | 2023
|  | (Dollars in millions)
Short-term debt (1), (2) |  | $ | 465 |  |  | $ | 119 |
Average daily balance |  | $ | 270 |  |  | $ | 142 |
Average days outstanding |  | 82 days |  | 65 days
__________________ (1)Includes $465 million and $115 million at December 31, 2024 and 2023, respectively, of short-term debt related to repurchase agreements, secured by assets of subsidiaries. (2)Includes $133 million and $0 at December 31, 2024 and 2023, respectively, of short-term debt related to VIEs.
Schedule of Line of Credit Facilities | Information on the Credit Facility at December 31, 2024 was as follows:
Borrower(s) |  | Expiration |  | Maximum Capacity |  | Letters of Credit Issued |  | Drawdowns |  | Unused Commitments
|  |  |  |  | (In millions)
MetLife, Inc. and MetLife Funding, Inc. |  | May 2028 | (1) |  | $ | 3,000 |  |  |  | $ | 297 |  |  | $ | — |  |  | $ | 2,703 |
__________________ (1)All borrowings under the Credit Facility must be repaid by May 8, 2028, except that letters of credit outstanding on that date may remain outstanding until no later than May 8, 2029. Information on the Committed Facilities at December 31, 2024 was as follows:
Account Party/Borrower(s) |  | Expiration |  | Maximum Capacity |  | Letters of Credit Issued |  | Drawdowns |  | Unused Commitments
|  |  |  |  | (In millions)
MetLife Reinsurance Company of Vermont (“MRV”) and MetLife, Inc. |  | November 2026 | (1), (2) |  | $ | 350 |  |  | $ | 350 |  |  | $ | — |  |  | $ | — |
MRV and MetLife, Inc. |  | December 2037 | (1), (3) |  | 2,896 |  |  | 2,491 |  |  | — |  |  | 405 |
Total |  |  |  |  | $ | 3,246 |  |  | $ | 2,841 |  |  | $ | — |  |  | $ | 405 |
__________________ (1)MetLife, Inc. is a guarantor under the applicable facility. (2)The issuance of additional letters of credit is at the discretion of the counterparty. (3)Capacity at December 31, 2024 of $2.9 billion decreases gradually between 2025 and 2037 to $2.0 billion, and the facility expires in December 2037. Unused commitment of $405 million is based on maximum capacity. At December 31, 2024, Brighthouse Financial, Inc. and its subsidiaries (“Brighthouse”), a former subsidiary of MetLife, Inc., is a beneficiary of $2.5 billion of letters of credit issued under this facility and, in consideration, Brighthouse reimburses MetLife, Inc. for a portion of the letter of credit fees.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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