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MetLife Cash Flow Statement

Operating, investing, and financing cash movements

MetLife generated $15.5B in operating cash flow over the trailing twelve months. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$15.5BNet Cash From Investing (TTM)-$17.7BNet Cash From Financing (TTM)$4.0MNet Change In Cash (TTM)$1.4B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$56.4B
P/E Ratio15.57
ROE13.2%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in income taxes payable/receivable-$121M-$156M-$156M-$156M-$156M—
Change in other liabilities-$145M$479.3M$479.3M$479.3M$479.3M—
Other working capital changes$157M$110.8M$110.8M$110.8M$110.8M—
Net cash from operating activities$4.6B$4.3B$2.2B$3.6B$7.1B$2.7B
Net income$1.1B$850.8M$850.8M$850.8M$850.8M$1.2B
Accretion (Amortization) of Discounts and Premiums, Investments$378M$460M$460M$460M$460M—
(Gains) Losses On Derivatives Net-$679M-$577.5M-$577.5M-$577.5M-$577.5M—
(Gains) Losses On Investments And From Sales Of Businesses, Net-$291.3M-$286M-$286M-$286M-$286M—
Income Loss From Equity Method Investments Net Of Dividends Or Distributions-$211M-$91.3M-$91.3M-$91.3M-$91.3M—
Increase (Decrease) in Accounts and Other Receivables-$115M$6.8M$6.8M$6.8M$6.8M—
Increase (Decrease) in Accrued Investment Income Receivable$4.5M$68M$68M$68M$68M—
Increase (Decrease) in Deferred Policy Acquisition Costs$197.8M$267M$267M$267M$267M—
Increase (Decrease) in Other Operating Assets$0$138.8M$138.8M$138.8M$138.8M—
Increase Decrease In Trading Securities$129.5M$253.3M$253.3M$253.3M$253.3M—
Insurance Commissions And Fees$1.2B$1.2B$1.3B$1.2B$1.3B$1.3B
Insurance Commissions and Fees1$1.1B$1B$1B$1B$1B—
Interest credited to policyholder account balances$2.1B$2.3B$2.3B$2.3B$2.3B—
Effect of changes in capital markets$195.5M$58.8M$58.8M$58.8M$58.8M—
Depreciation and amortization$178.5M$188.3M$188.3M$188.3M$188.3M—

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$21M$89M$624M$30M$0$61M
Repayments of debt$0$1B———$1B
Dividends paid$378M$374M$382M$378M$375M$372M
Net change in payables for collateral under securities loaned and other transactions—$233M-$351M——$1.1B
Payments For Proceeds From Derivative Instrument Financing Activities$116M$71M$3M$58M$115M$71M
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$32M$66M$31M$66M$31M$45M
Deposits on investment-type policies and contracts$23B$28.7B$27.1B$27.2B$25.4B$27.4B
Proceeds from mortgage loan secured financing$138M$66M$268M$17M$88M$115M
Other, net$83M-$199M-$32M$0-$46M-$67M
Repayments of Annuities and Investment Certificates$22.6B$26.9B$24.8B$25.5B$24.4B$24.1B
Repayments of mortgage loan secured financing$304M$255M$417M$205M$364M$495M
Repayments Of Secured Debt$53M$13M$25M$40M$46M$53M
Net cash from financing activities-$519M$220M$1.4B——$3.6B
Repurchases of common stock$406M$1.4B$510M$502M$460M$755M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$287M$224M$283M$247M$287M$243M
Income Taxes Paid, Net$327M$147M$783M$308M$326M$231M
Health care costs payable and other insurance liabilities$1B$1.8B$1.8B$1.8B$1.8B—
Common stock issued for acquisition of NEX$1.2B$0$0$0$7.6B$715M
Other invested assets received in connection with the sale of other limited partnership interests$0$20M———$347M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid In Connection With Freestanding Derivatives$1.2B$1B$946M$1.2B$1.3B$1.5B
Cash received in connection with freestanding derivatives$563M$803M$635M$723M$367M$601M
Net Change In Other Invested Assets$978M-$457M-$100M——$423M
Payment for (Proceeds from) Other Investing Activity$0$51M$23M$13M—$23M
Payments for (Proceeds from) Policy Loans-$165M$87M-$57M-$44M-$7M-$54M
Payments to Acquire Equity Securities, FV-NI$32M$35M$13M$14M$5M$128M
Payments to Acquire Limited Partnership Interests$471M$278M$372M$271M$495M$381M
Payments to Acquire Mortgage Notes Receivable$2.9B$2B$2.2B$2B$4.5B$3.6B
Payments To Acquire Real Estate And Real Estate Joint Ventures$183M$114M$273M$168M$78M$215M
Payments to Acquire Short-Term Investments$2.8B$4.4B$3B$4.8B$2.7B$4.6B
Proceeds from Limited Partnership Investments$241M$301M$203M$165M$356M$437M
Proceeds From Real Estate And Real Estate Joint Ventures$191M$48M$24M$174M$259M$128M
Proceeds from Sale and Collection of Mortgage Notes Receivable$3.2B$3.2B$3.2B$2.8B$5.4B$4.2B
Proceeds From Sale And Maturity Of Available For Sale Securities$14.3B$14.1B$13.4B$15.4B$16.5B$19.8B
Proceeds from maturities of short-term investments$2.1B$4.1B$3.3B$4.1B$5.1B$3.7B
Proceeds from disposal of certain strategic investments$69M$9M$45M$42M$44M$8M
Net cash from investing activities-$5.4B-$3.3B-$3B-$5B-$4.3B-$5.5B
Purchases of investments$17.5B$18.4B$17.1B$19.7B$22.4B$23.7B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash-$1.7B$1.3B$852M—$1.8B$655M
Effect of exchange rate changes on cash and cash equivalents-$425M$98M$197M$14M$7M-$136M
Fixed maturity securities available-for-sale disposed of in connection with a reinsurance transaction$0$0$0$0$0—
Funds withheld liabilities established in connection with reinsurance transactions$0$4.6B$4.6B$4.6B$4.6B—
Mortgage loans disposed of in connection with a reinsurance transaction$0$0$0$0$0—
Short-term investments received in connection with pension risk transfer transactions$0$30.5M$30.5M$30.5M$30.5M—