METLIFE INC
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
MET$101.67+3.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(In millions, except share and per share data)
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Investments: | ||
| 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 | $315,931 | $281,043 |
| Equity securities, at estimated fair value | 858 | 712 |
| Contractholder-directed equity securities and fair value option securities, at estimated fair value (includes $1,751 and $0, respectively, relating to variable interest entities) | 13,959 | 10,672 |
| 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) | 84,593 | 89,012 |
| Policy loans | 8,547 | 8,545 |
| 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) | 13,440 | 13,342 |
| Other limited partnership interests | 14,917 | 14,378 |
| Short-term investments, principally at estimated fair value | 3,601 | 5,156 |
| 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) | 16,332 | 18,504 |
| Total investments | 472,178 | 441,364 |
| Cash and cash equivalents, principally at estimated fair value (includes $96 and $0, respectively, relating to variable interest entities) | 22,032 | 20,068 |
| Accrued investment income | 3,719 | 3,489 |
| Premiums, reinsurance and other receivables (includes $0 and $47, respectively, relating to variable interest entities) | 49,059 | 29,761 |
| Market risk benefits, at estimated fair value | 458 | 372 |
| Deferred policy acquisition costs and value of business acquired | 21,107 | 19,627 |
| Current income tax recoverable | 660 | 295 |
| Deferred income tax asset | 2,585 | 2,994 |
| Goodwill | 9,613 | 8,901 |
| Other assets | 11,822 | 11,082 |
| Separate account assets | 151,933 | 139,504 |
| Total assets | $745,166 | $677,457 |
| Liabilities, Mezzanine Equity and Equity | ||
| Liabilities | ||
| Future policy benefits | $208,855 | $193,646 |
| Policyholder account balances | 236,857 | 221,445 |
| Market risk benefits, at estimated fair value | 2,406 | 2,581 |
| Other policy-related balances | 20,070 | 18,899 |
| Policyholder dividends payable | 356 | 385 |
| Payables for collateral under securities loaned and other transactions | 17,115 | 17,128 |
| Short-term debt (includes $117 and $133, respectively, relating to variable interest entities) | 355 | 465 |
| Long-term debt (includes $28 and $0, respectively, relating to variable interest entities) | 14,467 | 15,086 |
| Collateral financing arrangement | 352 | 476 |
| Subordinated debt securities | 4,155 | 3,164 |
| Notes issued by collateralized financing entities (includes all amounts: under the fair value option; and relating to variable interest entities) | 1,206 | — |
| Deferred income tax liability | 536 | 132 |
| Other liabilities (includes $167 and $0, respectively, relating to variable interest entities) | 57,582 | 36,843 |
| Separate account liabilities | 151,933 | 139,504 |
| Total liabilities | 716,245 | 649,754 |
| Contingencies, Commitments and Guarantees (Note 24) | ||
| Mezzanine Equity | ||
| Redeemable noncontrolling interests | 241 | — |
| 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; 1,195,587,190 and 1,194,168,628 shares issued, respectively; 655,333,773 and 689,211,065 shares outstanding, respectively | 12 | 12 |
| Additional paid-in capital | 32,858 | 33,791 |
| Retained earnings | 44,290 | 42,626 |
| Treasury stock, at cost; 540,253,417 and 504,957,563 shares, respectively | (30,678) | (27,798) |
| Accumulated other comprehensive income (loss) | (18,084) | (21,186) |
| Total MetLife, Inc.’s stockholders’ equity | 28,398 | 27,445 |
| Noncontrolling interests | 282 | 258 |
| Total equity | 28,680 | 27,703 |
| Total liabilities, mezzanine equity and equity | $745,166 | $677,457 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.