v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $273 and $249, respectively); and amortized cost: $342,191 and $337,201, respectively $ 316,110 $ 315,931
Equity securities, at estimated fair value 927 858
Contractholder-directed equity securities and fair value option securities, at estimated fair value (includes $1,665 and $1,751, respectively, relating to variable interest entities) 13,435 13,959
Mortgage loans (net of allowance for credit loss of $1,213 and $1,193, respectively; includes $35 and $35, respectively, of mortgage loans held-for-sale) 83,726 84,593
Policy loans 8,455 8,547
Real estate and real estate joint ventures (includes $303 and $378, respectively, under the fair value option; $164 and $132, respectively, of real estate held-for-sale; $376 and $302, respectively, relating to variable interest entities) 13,356 13,440
Other limited partnership interests 14,531 14,917
Short-term investments, principally at estimated fair value 4,948 3,601
Other invested assets (includes $1,586 and $1,698, respectively, of leveraged and direct financing leases; $657 and $560, respectively, relating to variable interest entities) 17,624 16,332
Total investments 473,112 472,178
Cash and cash equivalents, principally at estimated fair value (includes $132 and $96, respectively, relating to variable interest entities) 22,687 22,032
Accrued investment income 3,796 3,719
Premiums, reinsurance and other receivables 50,335 49,059
Market risk benefits, at estimated fair value 392 458
Deferred policy acquisition costs and value of business acquired 21,269 21,107
Current income tax recoverable 455 660
Deferred income tax asset 2,901 2,585
Goodwill 9,565 9,613
Other assets 11,013 11,822
Separate account assets 147,686 151,933
Total assets 743,211 745,166
Liabilities    
Future policy benefits 206,628 208,855
Policyholder account balances 239,836 236,857
Market risk benefits, at estimated fair value 2,522 2,406
Other policy-related balances 20,444 20,070
Policyholder dividends payable 337 356
Payables for collateral under securities loaned and other transactions 18,157 17,115
Short-term debt (includes $113 and $117, respectively, relating to variable interest entities) 404 355
Long-term debt (includes $68 and $28, respectively, relating to variable interest entities) 14,445 14,467
Collateral financing arrangement 299 352
Subordinated debt securities 5,143 4,155
Notes issued by collateralized financing entities (includes all amounts: under the fair value option; and relating to variable interest entities) 1,138 1,206
Deferred income tax liability 382 536
Other liabilities (includes $139 and $167, respectively, relating to variable interest entities) 57,989 57,582
Separate account liabilities 147,686 151,933
Total liabilities 715,410 716,245
Contingencies, Commitments and Guarantees (Note 18)
Redeemable noncontrolling interests 206 241
MetLife, Inc.’s stockholders’ equity:    
Preferred stock, par value $0.01 per share; $2,905 aggregate liquidation preference 0 0
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,196,399,473 and 1,195,587,190 shares issued, respectively; 646,024,938 and 655,333,773 shares outstanding, respectively 12 12
Additional paid-in capital 32,921 32,858
Retained earnings 45,058 44,290
Treasury stock, at cost; 550,374,535 and 540,253,417 shares, respectively (31,440) (30,678)
Accumulated other comprehensive income (loss) (19,227) (18,084)
Total MetLife, Inc.’s stockholders’ equity 27,324 28,398
Noncontrolling interests 271 282
Total equity 27,595 28,680
Total liabilities, mezzanine equity and equity $ 743,211 $ 745,166