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 $195 and $194, respectively); and amortized cost: $169,626 and $167,384, respectively $ 159,342 $ 159,332
Mortgage loans (net of allowance for credit loss of $711 and $701, respectively; includes $180 and $180, respectively, relating to variable interest entities) 55,472 55,870
Policy loans 5,545 5,596
Real estate and real estate joint ventures (includes $303 and $378, respectively, under the fair value option; $130 and $64, respectively, of real estate held-for-sale; $2,495 and $2,435, respectively, relating to variable interest entities) 8,906 8,798
Other limited partnership interests 6,506 6,929
Short-term investments, at estimated fair value 1,409 2,221
Other invested assets (includes $363 and $435, respectively, of leveraged and direct financing leases; $1,712 and $866, respectively, under the fair value option of which $816 and $0, respectively, is relating to variable interest entities; $43 and $45, respectively, relating to variable interest entities not under the fair value option) 16,832 15,086
Total investments 254,012 253,832
Cash and cash equivalents, principally at estimated fair value (includes $64 and $0, respectively, relating to variable interest entities) 9,416 8,392
Accrued investment income 2,084 2,031
Premiums, reinsurance and other receivables 35,774 35,488
Market risk benefits, at estimated fair value 207 257
Deferred policy acquisition costs and value of business acquired 2,855 2,865
Current income tax recoverable 371 482
Deferred income tax asset 2,545 2,490
Other assets 4,140 4,168
Separate Account Asset 71,428 73,511
Total assets 382,832 383,516
Liabilities    
Future policy benefits 134,900 136,432
Policyholder account balances 104,711 104,091
Market risk benefits, at estimated fair value 2,321 2,201
Other policy-related balances 8,863 8,642
Policyholder dividends payable 193 197
Payables for collateral under securities loaned and other transactions 12,588 11,698
Long-term debt 997 1,045
Notes Issued by Collateralized Financing Entities 801 0
Other liabilities (includes $30 and $0, respectively, relating to variable interest entities) 32,219 31,164
Separate account liabilities 71,428 73,511
Total liabilities 369,021 368,981
Contingencies, Commitments and Guarantees (Note 14)
Metropolitan Life Insurance Company stockholder’s equity:    
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 494,466,664 shares issued and outstanding 5 5
Additional paid-in capital 12,475 12,475
Retained earnings 6,228 6,677
Accumulated other comprehensive income (loss) (5,564) (5,236)
Total Metropolitan Life Insurance Company stockholder’s equity 13,144 13,921
Noncontrolling interests 667 614
Total equity 13,811 14,535
Total liabilities and equity $ 382,832 $ 383,516