METLIFE INC (MET) financial statements: income statement, balance sheet and cash flow

METLIFE INC's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), METLIFE INC reported revenue of $77.1B (+8.6% year on year) and net income of $3.4B (-23.4% year on year).

Income statement

METLIFE INC income statement, fiscal years
Line itemDec 31, 2025 · FYDec 31, 2024 · FYDec 31, 2023 · FYDec 31, 2022 · FY
Premiums$49.8B$44.9B$44.3B$49.4B
Universal life and investment-type product policy fees$5.0B$5.0B$5.2B$5.6B
Net investment income$22.6B$21.3B$19.9B$15.9B
Other revenues$2.8B$2.6B$2.5B$2.6B
Net investment gains (losses)($1.1B)($1.2B)($2.8B)($1.3B)
Net derivative gains (losses)($1.9B)($1.6B)($2.1B)($2.4B)
Total revenues$77.1B$71.0B$66.9B$69.9B
Policyholder benefits and claims$49.7B$44.7B$44.6B$50.6B
Policyholder liability remeasurement (gains) losses($150.0M)($206.0M)($45.0M)—
Market risk benefit remeasurement (gains) losses($508.0M)($1.1B)($994.0M)—
Interest credited to policyholder account balances$8.9B$8.3B$7.9B$3.7B
Policyholder dividends$553.0M$595.0M$622.0M$701.0M
Other expenses$13.9B$13.0B$12.7B$12.0B
Total expenses$72.4B$65.4B$64.7B$67.0B
Income (loss) before provision for income tax$4.7B$5.6B$2.2B$2.9B
Provision for income tax expense (benefit)$1.3B$1.2B$560.0M$301.0M
Net income (loss)$3.4B$4.4B$1.6B$2.6B
Less: Net income (loss) attributable to noncontrolling interests$24.0M$18.0M$24.0M$19.0M
Net income (loss) attributable to MetLife, Inc.$3.4B$4.4B$1.6B$2.5B
Less: Preferred stock dividends$194.0M$200.0M$198.0M$185.0M
Preferred Stock Redemption Premium$12.0M—$0$0
Net income (loss) available to MetLife, Inc.’s common shareholders$3.2B$4.2B$1.4B$2.4B
Basic$4.74$5.98$1.82$2.93
Diluted$4.71$5.94$1.81$2.91
METLIFE INC income statement, quarters
Line itemJun 30, 2026 · Q2Mar 31, 2026 · Q1Sep 30, 2025 · Q3Jun 30, 2025 · Q2
Premiums$11.4B$12.1B$10.6B$10.8B
Universal life and investment-type product policy fees$1.4B$1.3B$1.2B$1.3B
Net investment income$6.7B$5.4B$6.1B$5.7B
Other revenues$845.0M$852.0M$724.0M$679.0M
Net investment gains (losses)($428.0M)($670.0M)($325.0M)($273.0M)
Net derivative gains (losses)($772.0M)$74.0M($929.0M)($796.0M)
Total revenues$19.2B$19.1B$17.4B$17.3B
Policyholder benefits and claims$11.3B$11.9B$10.4B$10.8B
Policyholder liability remeasurement (gains) losses$18.0M($13.0M)($159.0M)$5.0M
Market risk benefit remeasurement (gains) losses($270.0M)$120.0M($263.0M)($277.0M)
Interest credited to policyholder account balances$3.1B$1.7B$2.6B$2.4B
Policyholder dividends$125.0M$124.0M$134.0M$146.0M
Other expenses$3.8B$3.8B$3.5B$3.3B
Total expenses$18.1B$17.6B$16.2B$16.4B
Income (loss) before provision for income tax$1.0B$1.5B$1.2B$980.0M
Provision for income tax expense (benefit)$256.0M$345.0M$308.0M$245.0M
Net income (loss)$779.0M$1.2B$902.0M$735.0M
Less: Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests$43.0M($23.0M)$6.0M$6.0M
Net income (loss) attributable to MetLife, Inc.$736.0M$1.2B$896.0M$729.0M
Less: Preferred stock dividends$31.0M$45.0M$66.0M$31.0M
Net income (loss) available to MetLife, Inc.’s common shareholders$705.0M$1.1B$818.0M$698.0M
Comprehensive income (loss)$1.3B$43.0M$3.2B$1.1B
Less: Comprehensive income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests, net of income tax$31.0M$1.0M$8.0M$7.0M
Comprehensive income (loss) attributable to MetLife, Inc.$1.2B$42.0M$3.2B$1.1B
Basic$1.10$1.75$1.23$1.04
Diluted$1.09$1.74$1.22$1.03

Balance sheet

METLIFE INC balance sheet, fiscal years
Line itemDec 31, 2025 · FYDec 31, 2024 · FYDec 31, 2023 · FYDec 31, 2022 · FY
Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $249 and $160, respectively); and amortized cost: $337,201 and $307,421, respectively$315.9B$281.0B$281.4B$276.8B
Equity securities, at estimated fair value$858.0M$712.0M$757.0M$1.7B
Contractholder-directed equity securities and fair value option securities, at estimated fair value (includes $1,751 and $0, respectively, relating to variable interest entities)$14.0B$10.7B$10.3B$9.7B
Mortgage loans (net of allowance for credit loss of $1,193 and $800, respectively; includes $35 and $0, respectively, of mortgage loans held-for-sale)$84.6B$89.0B$92.5B$83.8B
Policy loans$8.5B$8.5B$8.8B$8.9B
Real estate and real estate joint ventures (includes $378 and $378, respectively, under the fair value option; $132 and $65, respectively, of real estate held-for-sale; $302 and $183, respectively, relating to variable interest entities)$13.4B$13.3B$13.3B$13.1B
Other limited partnership interests$14.9B$14.4B$14.8B$14.4B
Short-term investments, principally at estimated fair value$3.6B$5.2B$6.0B$4.9B
Other invested assets (includes $1,698 and $1,851, respectively, of leveraged and direct financing leases; $560 and $424, respectively, relating to variable interest entities)$16.3B$18.5B$18.2B$20.0B
Total investments$472.2B$441.4B$446.1B$433.3B
Cash and cash equivalents, principally at estimated fair value (includes $96 and $0, respectively, relating to variable interest entities)$22.0B$20.1B$20.6B$20.2B
Accrued investment income$3.7B$3.5B$3.6B$3.4B
Premiums, reinsurance and other receivables (includes $0 and $47, respectively, relating to variable interest entities)$49.1B$29.8B$29.0B$17.5B
Market risk benefits, at estimated fair value$458.0M$372.0M$286.0M—
Deferred policy acquisition costs and value of business acquired$21.1B$19.6B$20.2B$23.0B
Current income tax recoverable$660.0M$295.0M$190.0M$42.0M
Deferred income tax asset$2.6B$3.0B$2.6B$2.8B
Goodwill$9.6B$8.9B$9.2B$9.3B
Other assets$11.8B$11.1B$11.1B$11.0B
Separate account assets$151.9B$139.5B$144.6B$146.0B
Total assets$745.2B$677.5B$687.6B$666.6B
Future policy benefits$208.9B$193.6B$196.4B$204.2B
Policyholder account balances$236.9B$221.4B$219.3B$203.1B
Market risk benefits, at estimated fair value$2.4B$2.6B$3.2B—
Other policy-related balances$20.1B$18.9B$19.7B$19.7B
Policyholder dividends payable$356.0M$385.0M$386.0M$387.0M
Payables for collateral under securities loaned and other transactions$17.1B$17.1B$17.5B$20.9B
Short-term debt (includes $117 and $133, respectively, relating to variable interest entities)$355.0M$465.0M$119.0M$175.0M
Long-term debt (includes $28 and $0, respectively, relating to variable interest entities)$14.5B$15.1B$15.5B$14.6B
Collateral financing arrangement$352.0M$476.0M$637.0M$716.0M
Subordinated debt securities$4.2B———
Notes Issued by Collateralized Financing Entities$1.2B———
Deferred income tax liability$536.0M$132.0M$927.0M$325.0M
Other liabilities (includes $167 and $0, respectively, relating to variable interest entities)$57.6B$36.8B$35.8B$26.0B
Separate account liabilities$151.9B$139.5B$144.6B$146.0B
Total liabilities$716.2B$649.8B$657.3B$639.3B
Redeemable noncontrolling interests$241.0M———
Preferred stock, par value $0.01 per share; $2,905 and $3,905, respectively, aggregate liquidation preference$0.00$0.00$0.00$0.00
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,195,587,190 and 1,194,168,628 shares issued, respectively; 655,333,773 and 689,211,065 shares outstanding, respectively$12000000.00$12000000.00$12000000.00$12000000.00
Additional paid-in capital$32.9B$33.8B$33.7B$33.6B
Retained earnings$44.3B$42.6B$40.1B$42.0B
Treasury stock, at cost; 540,253,417 and 504,957,563 shares, respectively-30.7B-27.8B-24.6B-21.5B
Accumulated other comprehensive income (loss)($18.1B)($21.2B)($19.2B)($27.1B)
Total MetLife, Inc.’s stockholders’ equity$28.4B$27.4B$30.0B$27.0B
Noncontrolling interests$282.0M$258.0M$238.0M$247.0M
METLIFE INC balance sheet, quarters
Line itemJun 30, 2026Mar 31, 2026Sep 30, 2025Jun 30, 2025
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$322.2B$316.1B$304.6B$298.7B
Equity securities, at estimated fair value$932.0M$927.0M$788.0M$790.0M
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)$14.8B$13.4B$12.3B$11.7B
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)$82.9B$83.7B$85.8B$86.9B
Policy loans$8.2B$8.5B$8.6B$8.7B
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)$13.1B$13.4B$13.9B$14.0B
Other limited partnership interests$14.8B$14.5B$14.7B$14.3B
Short-term investments, principally at estimated fair value$8.0B$4.9B$6.0B$5.3B
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)$17.7B$17.6B$16.9B$16.4B
Total investments$482.6B$473.1B$463.7B$456.7B
Cash and cash equivalents, principally at estimated fair value (includes $357 and $96, respectively, relating to variable interest entities)$19.3B$22.7B$20.2B$22.2B
Accrued investment income$3.8B$3.8B$3.8B$3.5B
Premiums, reinsurance and other receivables$50.6B$50.3B$40.3B$31.5B
Market risk benefits, at estimated fair value$490.0M$392.0M$392.0M$352.0M
Deferred policy acquisition costs and value of business acquired$21.6B$21.3B$21.2B$21.0B
Current income tax recoverable$426.0M$455.0M$374.0M$554.0M
Deferred income tax asset$3.2B$2.9B$2.7B$2.9B
Goodwill$9.5B$9.6B$9.1B$9.1B
Other assets$11.1B$11.0B$11.6B$11.4B
Separate account assets$156.8B$147.7B$146.3B$143.2B
Total assets$759.4B$743.2B$719.7B$702.5B
Future policy benefits$206.2B$206.6B$199.2B$199.0B
Policyholder account balances$245.5B$239.8B$235.3B$232.4B
Market risk benefits, at estimated fair value$2.2B$2.5B$2.6B$2.7B
Other policy-related balances$20.6B$20.4B$20.4B$19.9B
Policyholder dividends payable$349.0M$337.0M$369.0M$367.0M
Payables for collateral under securities loaned and other transactions$18.9B$18.2B$17.1B$17.1B
Short-term debt (includes $114 and $117, respectively, relating to variable interest entities)$460.0M$404.0M$378.0M$379.0M
Long-term debt (includes $69 and $28, respectively, relating to variable interest entities)$14.2B$14.4B$15.3B$15.4B
Collateral financing arrangement$286.0M$299.0M$398.0M$438.0M
Subordinated debt securities$5.1B$5.1B$4.2B$4.2B
Notes issued by collateralized financing entities (includes all amounts: under the fair value option; and relating to variable interest entities)$1.5B$1.1B——
Deferred income tax liability$311.0M$382.0M$574.0M$430.0M
Other liabilities (includes $374 and $167, respectively, relating to variable interest entities)$59.0B$58.0B$48.5B$39.1B
Separate account liabilities$156.8B$147.7B$146.3B$143.2B
Total liabilities$731.4B$715.4B$690.5B$674.5B
Redeemable noncontrolling interests$220.0M$206.0M——
Preferred stock, par value $0.01 per share; $2,905 aggregate liquidation preference$0.00$0.00$0.00$0.00
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$12000000.00$12000000.00$12000000.00$12000000.00
Additional paid-in capital$32.9B$32.9B$32.9B$33.8B
Retained earnings$45.4B$45.1B$43.9B$43.4B
Treasury stock, at cost; 559,043,751 and 540,253,417 shares, respectively-32.1B-31.4B-30.2B-29.7B
Accumulated other comprehensive income (loss)($18.7B)($19.2B)($17.6B)($19.9B)
Total MetLife, Inc.’s stockholders’ equity$27.4B$27.3B$28.9B$27.7B
Noncontrolling interests$300.0M$271.0M$247.0M$242.0M

Cash flow statement

METLIFE INC cash flow statement, fiscal years
Line itemDec 31, 2025 · FYDec 31, 2024 · FYDec 31, 2023 · FYDec 31, 2022 · FY
Net income (loss)$3.4B$4.4B$1.6B$2.6B
Depreciation and amortization expenses$753.0M$714.0M$718.0M$673.0M
Amortization of premiums and accretion of discounts associated with investments, net($1.8B)($1.5B)($1.3B)($960.0M)
(Gains) losses on investments and from sales of businesses, net$1.1B$1.2B$2.8B$1.3B
(Gains) losses on derivatives, net$2.3B$2.7B$3.3B$4.3B
(Income) loss from equity method investments, net of dividends or distributions$365.0M$844.0M$1.1B$505.0M
Interest credited to policyholder account balances$9.3B$8.5B$8.0B$3.7B
Universal life and investment-type product policy fees($4.2B)($4.3B)($4.0B)($4.0B)
Change in contractholder-directed equity securities and fair value option securities($1.0B)($518.0M)($539.0M)$1.7B
Change in accrued investment income($272.0M)($18.0M)($194.0M)($357.0M)
Change in premiums, reinsurance and other receivables($27.0M)$460.0M($2.0B)$256.0M
Change in market risk benefits($235.0M)($782.0M)($658.0M)—
Change in deferred policy acquisition costs and value of business acquired, net($1.1B)($791.0M)($660.0M)($568.0M)
Change in income tax($624.0M)($484.0M)($1.2B)($591.0M)
Change in other assets($555.0M)$0($124.0M)$27.0M
Change in insurance-related liabilities and policy-related balances$7.3B$4.1B$4.6B$4.1B
Change in other liabilities$1.9B($580.0M)$2.1B$341.0M
Other, net$443.0M$628.0M$197.0M$245.0M
Net cash provided by (used in) operating activities$17.1B$14.6B$13.7B$13.2B
Sales, maturities and repayments of fixed maturity securities available-for-sale$59.5B$55.6B$58.8B$88.9B
Sales, maturities and repayments of equity securities$140.0M$158.0M$1.0B$873.0M
Sales, maturities and repayments of mortgage loans$14.6B$10.4B$8.5B$10.8B
Sales, maturities and repayments of real estate and real estate joint ventures$505.0M$753.0M$143.0M$1.1B
Sales, maturities and repayments of other limited partnership interests$1.0B$1.1B$915.0M$1.6B
Sales, maturities and repayments of short-term investments$16.7B$11.8B$13.1B$14.1B
Purchases of fixed maturity securities available-for-sale($77.6B)($65.7B)($63.5B)($83.0B)
Purchases of equity securities($67.0M)($112.0M)($73.0M)($1.4B)
Purchases of mortgage loans($10.8B)($8.9B)($8.8B)($16.4B)
Purchases of real estate and real estate joint ventures($633.0M)($1.0B)($1.1B)($1.2B)
Purchases of other limited partnership interests($1.4B)($1.4B)($1.7B)($2.7B)
Purchases of short-term investments($14.9B)($10.9B)($14.0B)($11.7B)
Cash received in connection with freestanding derivatives$2.5B$2.3B$3.1B$4.5B
Cash paid in connection with freestanding derivatives($4.5B)($4.0B)($5.7B)($7.8B)
Purchases of businesses (net of cash received of $172, $0 and $0, respectively)($738.0M)——($35.0M)
Payments to Acquire Interest in Joint Venture($236.0M)($40.0M)$0($240.0M)
Net change in policy loans$21.0M$106.0M$34.0M$104.0M
Net change in other invested assets$362.0M($1.4B)($1.1B)($786.0M)
Other, net($75.0M)($173.0M)($143.0M)($28.0M)
Net cash provided by (used in) investing activities($15.6B)($11.5B)($10.2B)($2.6B)
Policyholder account balances - deposits$108.4B$97.9B$95.6B$103.0B
Policyholder account balances - withdrawals($101.5B)($94.9B)($90.9B)($97.9B)
Net change in payables for collateral under securities loaned and other transactions($25.0M)($244.0M)($3.3B)($10.7B)
Long-term debt issued$743.0M$1.6B$2.0B$1.0B
Long-term debt repaid($1.4B)($1.8B)($1.0B)($85.0M)
Collateral financing arrangement repaid($124.0M)($161.0M)($79.0M)($50.0M)
METLIFE INC cash flow statement, quarters
Line itemJun 30, 2026 · YTDMar 31, 2026 · Q1Sep 30, 2025 · YTDJun 30, 2025 · YTD
Net cash provided by (used in) operating activities$4.9B$2.7B$10.0B$6.4B
Sales, maturities and repayments of fixed maturity securities available-for-sale$40.9B$19.8B$42.9B$27.5B
Sales, maturities and repayments of equity securities$82.0M$8.0M$96.0M$54.0M
Sales, maturities and repayments of fair value option securities$154.0M———
Sales, maturities and repayments of mortgage loans$8.2B$4.2B$9.2B$6.4B
Sales, maturities and repayments of real estate and real estate joint ventures$635.0M$128.0M$246.0M$72.0M
Sales, maturities and repayments of other limited partnership interests$682.0M$437.0M$669.0M$504.0M
Sales, maturities and repayments of short-term investments$7.3B$3.7B$11.6B$7.4B
Purchases of fixed maturity securities available-for-sale($50.4B)($23.7B)($55.3B)($35.5B)
Purchases of equity securities($173.0M)($128.0M)($62.0M)($48.0M)
Payments to Acquire Fair value option securities($256.0M)———
Purchases of mortgage loans($7.1B)($3.6B)($6.3B)($4.2B)
Purchases of real estate and real estate joint ventures($499.0M)($215.0M)($555.0M)($387.0M)
Purchases of other limited partnership interests($1.0B)($381.0M)($921.0M)($650.0M)
Purchases of short-term investments($11.1B)($4.6B)($12.2B)($7.4B)
Cash received in connection with freestanding derivatives$1.1B$601.0M$2.2B$1.4B
Cash paid in connection with freestanding derivatives($2.7B)($1.5B)($3.2B)($2.0B)
Net change in policy loans$269.0M$54.0M$14.0M($30.0M)
Net change in other invested assets($398.0M)($423.0M)$454.0M$557.0M
Other, net($10.0M)($23.0M)($87.0M)($74.0M)
Net cash provided by (used in) investing activities($14.3B)($5.5B)($11.3B)($6.3B)
Policyholder account balances - deposits$57.0B$27.4B$82.9B$55.8B
Policyholder account balances - withdrawals($50.1B)($24.1B)($77.1B)($51.7B)
Net change in payables for collateral under securities loaned and other transactions$1.8B$1.1B($90.0M)($118.0M)
Long-term debt issued$65.0M$61.0M$743.0M$713.0M
Long-term debt repaid($217.0M)($53.0M)($609.0M)($558.0M)
Collateral financing arrangement repaid($66.0M)($53.0M)($78.0M)($38.0M)
Subordinated debt securities issued$1.0B$1.0B$1.0B$1.0B
Derivatives with certain financing elements and other derivative-related transactions, net($151.0M)($71.0M)($132.0M)($74.0M)
Proceeds from mortgage loan secured financing$180.0M$115.0M$351.0M$334.0M
Repayments of mortgage loan secured financing($836.0M)($495.0M)($877.0M)($672.0M)
Proceeds from notes issued by collateralized financing entities$843.0M———
Repayments of notes issued by collateralized financing entities($537.0M)———
Treasury stock acquired in connection with share repurchases($1.5B)($755.0M)($2.4B)($1.9B)
Dividends on preferred stock($76.0M)($45.0M)($163.0M)($97.0M)
Dividends on common stock($755.0M)($372.0M)($1.1B)($756.0M)
Other, net$52.0M($67.0M)($215.0M)($231.0M)
Net cash provided by (used in) financing activities$6.8B$3.6B$1.2B$1.7B
Effect of change in foreign currency exchange rates on cash and cash equivalents balances($95.0M)($136.0M)$309.0M$295.0M
Change in cash and cash equivalents($2.7B)$655.0M$165.0M$2.1B
Cash and cash equivalents, beginning of period$22.0B$22.0B$20.1B$20.1B
Cash and cash equivalents, end of period$19.3B$22.7B$20.2B$22.2B
Net cash paid for Interest$531.0M$243.0M$754.0M$507.0M
Net cash paid (received) for Income tax$819.0M$231.0M$1.2B$930.0M
Fixed maturity securities available-for-sale received in connection with pension risk transfer transactions$1.2B$715.0M$0$0

METLIFE INC score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.