v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $224 and $249, respectively); and amortized cost: $347,781 and $337,201, respectively $ 322,183 $ 315,931
Equity securities, at estimated fair value 932 858
Contractholder-directed equity securities and fair value option securities, at estimated fair value (includes $1,985 and $1,751, respectively, relating to variable interest entities) 14,809 13,959
Mortgage loans (net of allowance for credit loss of $1,358 and $1,193, respectively; includes $0 and $35, respectively, of mortgage loans held-for-sale) 82,856 84,593
Policy loans 8,226 8,547
Real estate and real estate joint ventures (includes $377 and $378, respectively, under the fair value option; $178 and $132, respectively, of real estate held-for-sale; $431 and $302, respectively, relating to variable interest entities) 13,065 13,440
Other limited partnership interests 14,801 14,917
Short-term investments, principally at estimated fair value 8,016 3,601
Other invested assets (includes $1,637 and $1,698, respectively, of leveraged and direct financing leases; $623 and $560, respectively, relating to variable interest entities) 17,675 16,332
Total investments 482,563 472,178
Cash and cash equivalents, principally at estimated fair value (includes $357 and $96, respectively, relating to variable interest entities) 19,301 22,032
Accrued investment income 3,774 3,719
Premiums, reinsurance and other receivables 50,635 49,059
Market risk benefits, at estimated fair value 490 458
Deferred policy acquisition costs and value of business acquired 21,571 21,107
Current income tax recoverable 426 660
Deferred income tax asset 3,167 2,585
Goodwill 9,536 9,613
Other assets 11,059 11,822
Separate account assets 156,850 151,933
Total assets 759,372 745,166
Liabilities    
Future policy benefits 206,150 208,855
Policyholder account balances 245,458 236,857
Market risk benefits, at estimated fair value 2,235 2,406
Other policy-related balances 20,559 20,070
Policyholder dividends payable 349 356
Payables for collateral under securities loaned and other transactions 18,882 17,115
Short-term debt (includes $114 and $117, respectively, relating to variable interest entities) 460 355
Long-term debt (includes $69 and $28, respectively, relating to variable interest entities) 14,244 14,467
Collateral financing arrangement 286 352
Subordinated debt securities 5,144 4,155
Notes issued by collateralized financing entities (includes all amounts: under the fair value option; and relating to variable interest entities) 1,497 1,206
Deferred income tax liability 311 536
Other liabilities (includes $374 and $167, respectively, relating to variable interest entities) 58,986 57,582
Separate account liabilities 156,850 151,933
Total liabilities 731,411 716,245
Contingencies, Commitments and Guarantees (Note 18)
Redeemable noncontrolling interests 220 241
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; 1,196,795,831 and 1,195,587,190 shares issued, respectively; 637,752,080 and 655,333,773 shares outstanding, respectively 12 12
Additional paid-in capital 32,933 32,858
Retained earnings 45,380 44,290
Treasury stock, at cost; 559,043,751 and 540,253,417 shares, respectively (32,141) (30,678)
Accumulated other comprehensive income (loss) (18,743) (18,084)
Total MetLife, Inc.’s stockholders’ equity 27,441 28,398
Noncontrolling interests 300 282
Total equity 27,741 28,680
Total liabilities, mezzanine equity and equity $ 759,372 $ 745,166