{ "docId": "019dd923-5efe-75c0-8dfe-c883d7b84efa", "docSlug": "917f33513caa97aa", "documentTitle": "2024 Investor Day", "authorId": "MetLife", "authorName": "MetLife", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 123, "pageCount": 131, "prevPage": 122, "nextPage": 124, "slideType": "appendix_disclosure", "function": "other", "density": "dense", "nDataPoints": 0, "notes": "This is a standard financial disclosure slide found in investor presentations to clarify non-GAAP metrics.", "elementsJson": [ "headline_text", "bullet_list", "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5efe-75c0-8dfe-c883d7b84efa/123", "deckHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa", "deckJsonHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa.json", "deckAnchorHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa#slide-123", "components": [ { "bbox": { "h": 0.16, "w": 0.924, "x": 0.038, "y": 0.22 }, "kind": "list", "text": "Net investment income includes earned income on derivatives and amortization of premium on derivatives that are hedges of investments or that are used to replicate certain investments, but do not qualify for hedge accounting treatment (\"Investment hedge adjustments\").\nOther revenues include settlements of foreign currency earnings hedges and exclude asymmetrical accounting associated with in-force reinsurance.\nPolicyholder benefits and claims excludes (i) amortization of basis adjustments associated with de-designated fair value hedges of future policy benefits, (ii) inflation-indexed benefit adjustments associated with contracts backed by inflation-indexed investments, (iii) asymmetrical accounting associated with in-force reinsurance, and (iv) non-economic losses incurred at contract inception for certain single premium annuity business. These losses are amortized to adjusted earnings within policyholder benefits and claims over the estimated lives of the contracts.\nInterest credited to policyholder account balances excludes amounts associated with periodic crediting rate adjustments based on the total return of a contractually referenced pool of assets and other pass-through adjustments and asymmetrical accounting associated with in-force reinsurance.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7e4f842d-638d-46b8-84a8-64af96400374", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.924, "x": 0.038, "y": 0.505 }, "kind": "list", "text": "Net investment income and interest credited to policyholder account balances excludes certain amounts related to contractholder-directed equity securities (\"Unit-linked contract income\") and (\"Unit-linked contract costs\").\nOther revenues include fee revenue on synthetic guaranteed interest contracts (\"GICs\") accounted for as freestanding derivatives.\nOther revenues exclude and other expenses include fees received in connection with services provided under transition service agreements.\nOther expenses exclude (i) implementation of new insurance regulatory requirements and other costs, and (ii) acquisition, integration and other related costs. Other expenses include (i) deductions for net income attributable to noncontrolling interests, and (ii) benefits accrued on synthetic GICs accounted for as freestanding derivatives.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e3b66cd2-5923-42ab-98a7-c07524396d6f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.924, "x": 0.038, "y": 0.395 }, "kind": "paragraph", "text": "Divested businesses are those that have been or will be sold or exited by MetLife but do not meet the discontinued operations criteria under GAAP. Divested businesses also include the net impact of transactions with exited businesses that have been eliminated in consolidation under GAAP and costs relating to businesses that have been or will be sold or exited by MetLife that do not meet the criteria to be included in results of discontinued operations under GAAP.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5ece3286-eaff-40a3-b7ad-5333993fbffb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.13, "w": 0.924, "x": 0.038, "y": 0.63 }, "kind": "paragraph", "text": "Adjusted earnings also excludes the recognition of certain contingent assets and liabilities that could not be recognized at acquisition or adjusted for during the measurement period under GAAP business combination accounting guidance.\nThe tax impact of the adjustments mentioned above are calculated net of the U.S. or foreign statutory tax rate, which could differ from MetLife's effective tax rate. Additionally, the provision for income tax (expense) benefit also includes the impact related to the timing of certain tax credits, as well as certain tax reforms.\nIn addition, adjusted earnings available to common shareholders excludes the impact of preferred stock redemption premium, which is reported as a reduction to net income (loss) available to MetLife, Inc.'s common shareholders.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "67920c13-41fe-49a8-b368-dd34f8f9dc6f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.924, "x": 0.038, "y": 0.185 }, "kind": "paragraph", "text": "Asymmetrical and non-economic accounting adjustments are made to the line items indicated in calculating adjusted earnings:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9137a7b8-4b40-4aef-a7c3-1d30bc6bd6bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.924, "x": 0.038, "y": 0.47 }, "kind": "paragraph", "text": "Other adjustments are made to the line items indicated in calculating adjusted earnings:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f060941e-65b6-4f8d-b53c-cfcb8a6d54e5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.145, "w": 0.924, "x": 0.038, "y": 0.045 }, "kind": "title", "text": "Explanatory note on non-GAAP and other financial information (continued)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d34e38b3-a785-4768-aabd-b6555b3a8567", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }