METLIFE INC
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
MET$101.67+3.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Interim Condensed Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Investments: | ||
| Fixed maturity securities available-for-sale, at estimated fair value (net of allowance for credit loss of $248 and $160, respectively); and amortized cost: $324,833 and $307,421, respectively | $304,645 | $281,043 |
| Equity securities, at estimated fair value | 788 | 712 |
| Contractholder-directed equity securities and fair value option securities, at estimated fair value | 12,270 | 10,672 |
| Mortgage loans (net of allowance for credit loss of $1,261 and $800, respectively) | 85,843 | 89,012 |
| Policy loans | 8,589 | 8,545 |
| Real estate and real estate joint ventures (includes $382 and $378, respectively, under the fair value option; $208 and $65, respectively, of real estate held-for-sale; $296 and $183, respectively, relating to variable interest entities) | 13,932 | 13,342 |
| Other limited partnership interests | 14,741 | 14,378 |
| Short-term investments, principally at estimated fair value | 5,962 | 5,156 |
| Other invested assets (includes $1,622 and $1,851, respectively, of leveraged and direct financing leases; $517 and $424, respectively, relating to variable interest entities) | 16,932 | 18,504 |
| Total investments | 463,702 | 441,364 |
| Cash and cash equivalents, principally at estimated fair value | 20,233 | 20,068 |
| Accrued investment income | 3,791 | 3,489 |
| Premiums, reinsurance and other receivables (includes $0 and $47, respectively, relating to variable interest entities) | 40,329 | 29,761 |
| Market risk benefits, at estimated fair value | 392 | 372 |
| Deferred policy acquisition costs and value of business acquired | 21,175 | 19,627 |
| Current income tax recoverable | 374 | 295 |
| Deferred income tax asset | 2,719 | 2,994 |
| Goodwill | 9,095 | 8,901 |
| Other assets | 11,572 | 11,082 |
| Separate account assets | 146,344 | 139,504 |
| Total assets | $719,726 | $677,457 |
| Liabilities and Equity | ||
| Liabilities | ||
| Future policy benefits | $199,169 | $193,646 |
| Policyholder account balances | 235,312 | 221,445 |
| Market risk benefits, at estimated fair value | 2,585 | 2,581 |
| Other policy-related balances | 20,361 | 18,899 |
| Policyholder dividends payable | 369 | 385 |
| Payables for collateral under securities loaned and other transactions | 17,139 | 17,128 |
| Short-term debt (includes $107 and $133, respectively, relating to variable interest entities) | 378 | 465 |
| Long-term debt (includes $45 and $0, respectively, relating to variable interest entities) | 15,300 | 15,086 |
| Collateral financing arrangement | 398 | 476 |
| Subordinated debt securities | 4,154 | 3,164 |
| Deferred income tax liability | 574 | 132 |
| Other liabilities (includes $54 and $0, respectively, relating to variable interest entities) | 48,452 | 36,843 |
| Separate account liabilities | 146,344 | 139,504 |
| Total liabilities | 690,535 | 649,754 |
| Contingencies, Commitments and Guarantees (Note 21) | ||
| Equity | ||
| MetLife, Inc.’s stockholders’ equity: | ||
| Preferred stock, par value $0.01 per share; $2,905 and $3,905, respectively, aggregate liquidation preference | — | — |
| Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,195,534,313 and 1,194,168,628 shares issued, respectively; 660,724,727 and 689,211,065 shares outstanding, respectively | 12 | 12 |
| Additional paid-in capital | 32,855 | 33,791 |
| Retained earnings | 43,887 | 42,626 |
| Treasury stock, at cost; 534,809,586 and 504,957,563 shares, respectively | (30,244) | (27,798) |
| Accumulated other comprehensive income (loss) | (17,566) | (21,186) |
| Total MetLife, Inc.’s stockholders’ equity | 28,944 | 27,445 |
| Noncontrolling interests | 247 | 258 |
| Total equity | 29,191 | 27,703 |
| Total liabilities and equity | $719,726 | $677,457 |
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