# METLIFE INVESTORS DISTRIBUTION COMPANY X-17A-5 (2026-03-24) — Broker-dealer annual report - Company: METLIFE INVESTORS DISTRIBUTION COMPANY - Form: X-17A-5 - Filed: 2026-03-24 - Accession: 0001193125-26-121422 - CIK: 1130412 - File #: 8-53064 - Email: pgruppuso@metlife.com - Website: metlife.com Original filing: https://www.sec.gov/Archives/edgar/data/1130412/000119312526121422/d95483dfull.pdf --- {0}------------------------------------------------ #### METLIFE INVESTORS DISTRIBUTION COMPANY (SEC. I.D. No. 8-53064) Financial Statements and Supplemental Schedules As of and for the Year Ended December 31, 2025 and Report of Independent Registered Public Accounting Firm \*\*\*\*\*\*\*\*\*\* Filed in accordance with Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a Public Document. {1}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 ### ANNUAL REPORTS FORM X-17A-5 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING 0001/01/25 AND ENDING 912/31/25 MM/DD/YY MM/DD/YY ### A. REGISTRANT IDENTIFICATION #### NAME OF FIRM: MetLife Investors Distribution Company TYPE OF REGISTRANT (check all applicable boxes): - മ Broker-dealer - \_ Check here if respondent is also an OTC derivatives dealer #### ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) #### 200 Park Avenue 4th Floor (No. and Street) New York, NY 10166 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Peter Gruppuso +1 (908)253-2685 - pgruppuso@metlife.com (Area Code - Telephone No.) (Email Address) #### B. ACCOUNTANT IDENTIFICATION #### INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Deloitte & Touche LLP (Name -if individual, state last, first and middle name) 30 Rockefeller Plaza New York, NY 10112-0015 (Address) (City) (State) (Zip Code) 10/10/2003 #### PCAOB ID No. 34. (Date of Registration with PCAOB, if applicable) (PCAOB Registration Number, if applicable) \* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC FILE NUMBER 8-53064 {2}------------------------------------------------ ## **"1&#"+3"01,/0&01/&21&,+,\*-+6** #### **\$(\$& &"( \$#** ! 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(6A@CE@7!?56A6?56?E(68:DE6C65'F3=:444@F?E:?8:C> | | |-------------------------------------------------------------------------------------|------| | | %.42 | | :?2?4:2=)E2E6>6?ED2D@72?57@CE96/62C?565646>36C
| | | )E2E6>6?E@7:?2?4:2=@?5:E:@? | | | )E2E6>6?E@7&A6C2E:@?D | | | )E2E6>6?E@72D9=@HD | | | )E2E6>6?E@792?86D:?)E@4<9@=56CDBF:EJ | | | %@E6DE@E96:?2?4:2=)E2E6>6?ED | | | %@E6&C82?:K2E:@? | | | %@E6)F>>2CJ@7):8?:7:42?E44@F?E:?8'@=:4:6D | | | %@E6(6=2E65'2CEJ*C2?D24E:@?D | | | %@E6(68F=2E@CJ(6BF:C6>6?ED | | | %@E6!?4@>6*2I6D | | | %@E6#:E:82E:@?2?5@?E:?86?4:6D | | | %@E6)F3D6BF6?EG6?ED | | | )FAA=6>6?E2=)4965F=6D | | | )4965F=6D92?5@@>AFE2E:@?@7?6E42A:E2=F?56C( 4 | | | )4965F=6D;2?5>@>AFE2E:@?7@C56E6C>:?2E:@?@74FDE@>6CC6D6CG6C6BF:C6>6?ED | | | AFCDF2?EE@I9:3:EE@( 42?5!?7@C>2E:@?C6=2E:?8E@A@DD6DD:@?@C4@?EC@= | | | C6BF:C6>6?ED7@C4FDE@>6CDF?56C( 4 | | {4}------------------------------------------------ # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and stockholder of MetLife Investors Distribution Company ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of MetLife Investors Distribution Company (the "Company") as of December 31, 2025, and the related statements of operations, cash flows, and changes in stockholder's equity for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. ## Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. ### Emphasis of Matter As described in Note 3, the financial statements have been prepared from the separate records maintained by the Company's ultimate parent company, MetLife, Inc., and may not necessarily be indicative of the conditions that would have existed or the results of operations if the Company had been operated as an unaffiliated company. Our opinion was not modified with respect to this matter. {5}------------------------------------------------ #### Report on Supplemental Schedules The accompanying supplemental schedules (h) and (o) and (j) and (m) (collectively "the supplemental schedules") have been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental schedules are the responsibility of the Company's management. Our audit procedures included determining whether the supplemental schedules reconcile to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in compliance with Rule 17a-5 under the Securities Exchange Act of 1934. In our opinion, such schedules are fairly stated, in all material respects, in relation to the financial statements as a whole. March 2ϯ, 2026 We have served as the Company's auditor since 2001. {6}------------------------------------------------ # MetLife Investors Distribution Company #### Statement of Financial Condition #### December 31, 2025 | Assets | | | |-------------------------------------------------------------------------------------|------|------------| | Cash and cash equivalents | ക്ക | 22,774,372 | | Concessions receivable from affiliates | | 7,098,996 | | Service fee receivable from affiliate | | 214,044 | | Other assets | | 369,987 | | Total assets | ക | 30,457,399 | | | | | | Liabilities and Stockholder's Equity | | | | Liabilities | | | | Concessions payable | ಕ್ಕಾ | 7,098,996 | | Due to affiliates | | 152,911 | | Accrued liabilities | | 148,893 | | Total liabilities | | 7,400,800 | | | | | | Stockholder's Equity | | | | Common stock, no par value; authorized 30,000 shares; issued and outstanding 25,000 | | | | shares | | 100,000 | | Additional paid in capital | | 6,374,363 | | Retained earnings | | 16,582,236 | | Total stockholder's equity | | 23,056,599 | | Total liabilities and stockholder's equity | ಕ್ಕಾ | 30,457,399 | | | | | {7}------------------------------------------------ #### Statement of Operations For the Year Ended December 31, 2025 | Revenues | | | |--------------------------------------------|-----|------------| | Concessions from affiliates | ക്ക | 40,170,843 | | Service fees from affiliate | | 2,924,837 | | Interest income | | 702,470 | | Other revenues | | 573,617 | | Total revenues | | 44,371,767 | | | | | | Expenses | | | | Concessions to broker-dealers | | 32,940,296 | | Overhead charges to affiliates | | 6,664,653 | | Service fees to affiliate | | 2,924,837 | | Other expenses | | 1,139,511 | | Total expenses | | 43,669,297 | | | | | | Income before income tax expense (benefit) | | 702,470 | | | | | | Provision for income tax expense (benefit) | | 148,309 | | | | | | Net income | ക | 554,161 | {8}------------------------------------------------ #### Statement of Cash Flows #### For the Year Ended December 31, 2025 | Cash flow from operating activities: | | | |-----------------------------------------------------------------------------------|-----|-------------| | Net income | ക്ക | 554.161 | | | | | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | (Increase) decrease in operating assets: | | | | Concessions receivable from affiliates | | 1,105,869 | | Service fee receivable from affiliate | | (6,565) | | Other assets | | 6,319 | | Increase (decrease) in operating liabilities: | | | | Concessions payable | | (1,105,869) | | Due to affiliates | | 10.158 | | Accrued liabilities | | (39,978) | | | | | | Net cash provided by operating activities | | 524,095 | | | | | | Net increase in cash and cash equivalents | | 524,095 | | | | | | Cash and cash equivalents, beginning of year | | 22,250,277 | | | | | | Cash and cash equivalents, end of year | ക്ക | 22,774,372 | | | | | | Supplemental disclosures of cash flow information: | | | | Cash paid for income taxes | | 187,168 | {9}------------------------------------------------ #### MetLife Investors Distribution Company #### Statement of Changes in Stockholder's Equity For the Year Ended December 31, 2025 | | | Common
Stock | Additional Paid
in Capital | Retained
Earnings | Total
Stockholder's
Equity | |------------------------------|----|-----------------|--------------------------------------------------------|---------------------------------------|----------------------------------| | Balance at January 1, 2025 | ಕಾ | | 100,000 \$ \$ 6,374,363 \$ 16,028,075 \$ \$ 22,502,438 | | | | Net income | | | | 554.161 | 554.161 | | Balance at December 31, 2025 | ಕಾ | 100,000 \$ | | 6,374,363 \$ 16,582,236 \$ 23,056,599 | | {10}------------------------------------------------ ### Notes to the Financial Statements As of and for the Year Ended December 31, 2025 #### 1. Organization MetLife Investors Distribution Company (the "Company") is a wholly owned subsidiary of MetLife Investors Group, LLC, which is a wholly owned subsidiary of MetLife, Inc. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 (the "1934 Act") and is a member of the Financial Industry Regulatory Authority ("FINRA"). "MetLife" as used in these notes refers to MetLife, Inc., a Delaware corporation, and its subsidiaries (other than the Company). The Company serves as general distributor and principal underwriter of variable life insurance policies as well as principal underwriter of funding agreements issued by Metropolitan Life Insurance Company ("MLIC") and Metropolitan Tower Life Insurance Company ("MTL") which are subsidiaries of MetLife. The Company is a wholesale that enters into distribution agreements with other registered broker-dealers. The Company does not assume insurance risks. The variable annuity contracts, variable life insurance policies, as well as funding agreements are referred to in these notes as "the Products" ### 2. Summary of Significant Accounting Policies Basis of Presentation - The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the financial statements. Actual results could differ from these estimates and those differences could be material. Cash and Cash Equivalents - Cash and cash equivalents consist of cash and highly liquid investments with maturities, when purchased, of three months or less. Included in cash and cash equivalents are \$22,764,372 in a money market fund. Fair Value - Certain assets and liabilities are measured at estimated fair value in the Company's financial statements. In addition, the notes to the financial statements include further disclosures of estimated fair values. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In most cases, the exit price and the transaction (or entry) price will be the same at initial recognition. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. In Level 1, fair values are based on unadjusted quoted prices for identical assets or liabilities in active markets that are readily and regularly obtainable. When such quoted prices are not available, fair values are based on Level 2 inputs that are either directly observable as of the reporting date, where fair value is determined through models or other valuation methodologies. Such inputs include quoted prices in markets that are not active, quoted prices for similar but not identical assets or liabilities, or other observable inputs. If these inputs are not available, or observable inputs are not determinable, Level 3 unobservable inputs and/or adjustments to observable inputs requiring management judgment are used to determine the fair value of assets and liabilities. Substantially all the Company's financial assets and liabilities are carried at fair value or amounts that approximate fair value. The Company's money market fund included in cash and cash equivalents is valued using Level 1 inputs. {11}------------------------------------------------ *"*(6G6?F6:D AC:>2C:=J 4@>AC:D65 @7 4@?46DD:@? 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O | \*96DE2E6?6E@A6C2E:?8=@DD42CCJ7@CH2C5D368:?E@6IA:C6:? \*96 @>A2?J 7:=6D :?4@>6 E2I C6EFC?D H:E9 E96 + ) 7656C2= 8@G6C?>6?E 2?5 G2C:@FD DE2E6 2?5 =@42= ;FC:D5:4E:@?D \*96@>A2?J:DF?56C4@?E:?F@FD6I2>:?2E:@?3JE96!?E6C?2=(6G6?F6)6CG:46P!()Q2?5 @E96C E2I 2FE9@C:E:6D :? ;FC:D5:4E:@?D :? H9:49 E96 @>A2?J 92D D:8?:7:42?E 3FD:?6DD @A6C2E:@?D \*96 :?4@>6 E2I J62CD F?56C 6I2>:?2E:@? G2CJ 3J ;FC:D5:4E:@? \*96 @>A2?J :D ?@ =@?86C DF3;64E E@ + ) 7656C2= DE2E6@C=@42=:?4@>6E2I6I2>:?2E:@?D:?>2;@CE2I:?8;FC:D5:4E:@?D7@CJ62CDAC:@CE@ \*96@>A2?J925?@F?C64@8?:K65E2I36?67:ED2D@7646>36C \*96@>A2?J925?@A6?2=E:6D2?5?@:?E6C6DE7@CE96J62C6?565646>36C {15}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{16}------------------------------------------------ # SUPPLEMENTAL SCHEDULES {17}------------------------------------------------ #### Computation of net capital under 17 CFR 240.15c3-1 | Schedules (h) and (o) | |-----------------------| | ಲ್ಲಿ
23,056,599 | | | | | | 1,032,843 | | 214.044 | | 317,890 | | 1,564,777 | | | | 21,491,822 | | 455,287 | | 21,036,535 | | | | 250,000 | | ക്ക
20,786,535 | | | There are no material differences between the Computation of Net Capital presented above and that reported in the Company's amended unaudited Part IIA Form X-17A-5 as of December 31, 2025 filed on February 26, 2026. {18}------------------------------------------------ **,\*-211&,+ #,/!"1"/\*&+1&,+,# 201,\*"/ /"0"/3" /".2&/"\*"+10-2/02+1 1,5%&&1 1, +!&+#,/\*1&,+/")1&+\$1,-,00"00&,+,/ ,+1/,)/".2&/"\*"+10#,/ 201,\*"/02+!"/** **" "\*"/ %"!2)"0'+!\*** .\$'\*!&%+%()\*!&%A2?J:D6I6>AE7C@>E96AC@G:D:@?D@7(F=64F?56CE96)64FC:E:6DI492?864E@7 :?E92EE96@>A2?JRD24E:G:E:6D2C6=:>:E65E@E9@D6D6E7@CE9:?E964@?5:E:@?D7@C6I6>AE:@?2AA62C:?8:? A2C28C2A9<@7E96(F=6 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.