MetLife Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,403	4,444	1,602	5,302	6,876
Depreciation & Amortization	753	714	718	673	694
Other Adjustments	7,556	8,074	9,953	4,968	1,286
Changes in Receivables	-299	442	-2,146	-58	351
Changes in Deferred Acquisition Costs	-1,068	-791	-660	-800	-708
Changes in Claims Reserves	7,022	3,297	3,979	590	4,163
Changes in Income Taxes Payable	-624	-484	-1,177	198	856
Changes in Other Operating Activities	349	-1,222	1,719	2,169	-1,171
Operating Cash Flow	17,092	14,598	13,721	13,044	12,347
Operating Cash Flow Growth	17.09%	6.39%	5.19%	5.64%	6.08%
Purchases of Investments	-105,695	-88,146	-89,055	-116,590	-141,302
Proceeds from Sale of Investments	92,487	79,848	82,514	117,394	131,663
Payments for Business Acquisitions	-738	-	-	-	-
Proceeds from Business Divestments	-	-	-	590	3,270
Other Investing Activities	-1,661	-3,195	-3,705	-4,014	-4,818
Investing Cash Flow	-15,607	-11,493	-10,246	-2,620	-11,187
Long-Term Debt Issued	2,182	1,853	2,671	1,013	29
Long-Term Debt Repaid	-2,748	-2,835	-1,959	-135	-661
Net Long-Term Debt Issued (Repaid)	-566	-982	712	878	-632
Repurchase of Common Stock	-2,883	-3,207	-3,103	-3,326	-4,303
Net Common Stock Issued (Repurchased)	-2,883	-3,207	-3,103	-3,326	-4,303
Repurchase of Preferred Stock	-1,000	-	-	-	-500
Net Preferred Stock Issued (Repurchased)	-1,000	-	-	-	-500
Common Dividends Paid	-1,509	-1,527	-1,566	-1,598	-1,647
Preferred Share Dividends Paid	-194	-200	-198	-185	-195
Other Financing Activities	6,315	2,785	1,215	-5,717	6,151
Financing Cash Flow	163	-3,131	-2,940	-9,948	-1,126
Effect of Exchange Rate Changes on Cash and Cash Equivalents	316	-545	-91	-397	-478
Net Cash Flow	1,964	-571	444	79	-444
Free Cash Flow	17,092	14,598	13,721	13,044	12,347
Free Cash Flow Growth	17.09%	6.39%	5.19%	5.64%	6.08%
FCF Margin	22.17%	20.56%	20.51%	18.97%	17.97%
Free Cash Flow Per Share	25.39	20.53	18.00	16.13	14.20
Levered Free Cash Flow	2,017	1,461	2,692	8,217	5,693
Unlevered Free Cash Flow	-6,532	-6,809	-6,442	7,542	6,547

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.