{ "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": 125, "pageCount": 131, "prevPage": 124, "nextPage": 126, "slideType": "appendix_disclosure", "function": "appendix", "density": "dense", "nDataPoints": 0, "notes": "This slide provides technical definitions for financial metrics used in the deck.", "elementsJson": [ "paragraph", "numbered_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5efe-75c0-8dfe-c883d7b84efa/125", "deckHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa", "deckJsonHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa.json", "deckAnchorHref": "/decks/019dd923-5efe-75c0-8dfe-c883d7b84efa#slide-125", "components": [ { "bbox": { "h": 0.15, "w": 0.902, "x": 0.06, "y": 0.47 }, "kind": "list", "text": "Separate Account AUM (\"SA AUM\") is comprised of separate account investment portfolios of MetLife insurance companies, which are managed by MIM and included in MetLife, Inc.'s consolidated financial statements at estimated fair value.\nReinsurance AUM is comprised of GA investments subject to reinsurance arrangements with third-party reinsurers, which are managed by MIM and are generally included in MetLife, Inc.'s consolidated financial statements at estimated fair value.\nThird-Party AUM (\"TP AUM\") is comprised of non-proprietary assets managed by MIM on behalf of unaffiliated/third-party clients, which are stated at estimated fair value. Such non-proprietary assets are owned by unaffiliated/third-party clients and, accordingly, are generally not included in MetLife, Inc.'s consolidated financial statements.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b9a88a53-67f9-410c-aac2-84c5f517a57c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.924, "x": 0.038, "y": 0.205 }, "kind": "paragraph", "text": "General Account AUM (\"GA AUM\")\nGA AUM is used by MetLife to describe assets in its general account (\"GA\") investment portfolio. GA AUM is stated at estimated fair value and is comprised of GA total investments, the portion of the GA investment portfolio classified within assets held-for-sale, and cash and cash equivalents, excluding policy loans, contractholder-directed equity securities, fair value option securities, mortgage loans originated for third parties (\"net mortgage loans\") (including commercial (\"net commercial mortgage loans\"), agricultural (\"net agricultural mortgage loans\") and residential mortgage loans) and real estate equity (including real estate and real estate joint ventures) included in GA AUM (at net asset value, net of deduction for encumbering debt) have been adjusted from carrying value to estimated fair value. Classification of GA AUM by sector is based on the nature and characteristics of the underlying investments which can vary from how they are classified under GAAP. Accordingly, the underlying investments within certain real estate and real estate joint ventures that are primarily net commercial mortgage loans (at net asset value, net of deduction for encumbering debt) have been reclassified to exclude them from real estate equity and include them as net commercial mortgage loans.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ad90b455-7aee-4641-bcb0-8f7ea2752c88", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.924, "x": 0.038, "y": 0.605 }, "kind": "paragraph", "text": "Asia GA AUM and related measures\nAsia GA AUM is used by MetLife to describe assets in its Asia GA investment portfolio. Asia GA AUM is stated at estimated fair value and is comprised of Asia GA total investments, the portion of the Asia GA investment portfolio classified within assets held-for-sale and cash and cash equivalents, excluding policy loans, contractholder-directed equity securities, fair value option securities, mortgage loans originated for third parties, assets subject to reinsurance arrangements with third-party reinsurers, and certain other invested assets. Mortgage loans, net of mortgage loans originated for third parties (\"net mortgage loans\") (including commercial (\"net commercial mortgage loans\"), agricultural (\"net agricultural mortgage loans\") and residential mortgage loans) and real estate equity (including real estate and real estate joint ventures) included in Asia GA AUM (at net asset value, net of deduction for encumbering debt) have been adjusted from carrying value to estimated fair value. At the segment level, intersegment balances (intercompany activity, primarily related to investments in subsidiaries, that eliminate at the MetLife consolidated level) are excluded from Asia GA AUM.\nAsia GA AUM (at amortized cost) excludes the following adjustments: (i) unrealized gain (loss) on investments carried at estimated fair value and (ii) adjustments from carrying value to estimated fair value on net mortgage loans (including net commercial mortgage loans, net agricultural mortgage loans and residential mortgage loans) and real estate and real estate joint ventures. Asia GA AUM (at amortized cost) is presented net of related allowance for credit loss.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e591f43b-7c85-4a7d-93d9-77ccf501e32e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.924, "x": 0.038, "y": 0.00175 }, "kind": "paragraph", "text": "Total Assets Under Management (\"Total AUM\") is comprised of GA AUM plus Institutional Client AUM (each, as defined below).", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f79b4d30-8738-477b-8a70-ae86bc7fd497", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.924, "x": 0.038, "y": 0.375 }, "kind": "paragraph", "text": "Institutional Client AUM\nInstitutional Client AUM is comprised of SA AUM plus Reinsurance AUM plus TP AUM (each, as defined below). MetLife Investment Management. LLC and certain of its affiliates (\"MIM\") manages Institutional Client AUM in accordance with client guidelines contained in each investment advisory agreement (\"Mandates\").", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fd6dc19c-77e3-47b2-9a0f-631f267f4151", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.115, "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": "eb423b3e-6c5e-43a4-8452-7bfcde57f017", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }