Equity

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Equity

9. Equity

Common Stock

During the three months endedMarch 31, 2015, MetLife, Inc. repurchased 19,893,284 shares through open market purchases for $986 million. MetLife, Inc. did not repurchase shares during the three months endedMarch 31, 2014.

At March 31, 2015, MetLife, Inc. had $275 million remaining under its common stock repurchase authorization. Future common stock repurchases will be dependent upon several factors, including the Company’s capital position, liquidity, financial strength and credit ratings, general market conditions, the market price of MetLife, Inc.’s common stock compared to management’s assessment of the stock’s underlying value and applicable regulatory approvals, as well as other legal and accounting factors.

Stock-Based Compensation Plans

Performance Shares and Performance Units

For outstanding awards granted prior to the January 1, 2013 - December 31, 2015 performance period, vested Performance Shares and Performance Units were or will be multiplied by a performance factor of 0% to 200% based on MetLife, Inc.’s adjusted income, total shareholder return, and performance in change in annual net operating earnings and total shareholder return compared to the performance of its competitors, each measured with respect to the applicable three-year performance period or portions thereof. See also “— Payout of 2012 – 2014 Performance Shares” and “— Payout of 2012 – 2014 Performance Units.”

For outstanding awards granted for the January 1, 2013 – December 31, 2015 and later performance periods, any vested Performance Shares and Performance Units will be multiplied by a performance factor of 0% to 175%. Assuming that MetLife, Inc. has met threshold performance goals related to its adjusted income or total shareholder return, the MetLife, Inc. Compensation Committee will determine the performance factor in its discretion. In doing so, the Compensation Committee may consider MetLife, Inc.’s total shareholder return relative to the performance of its competitors and MetLife, Inc.’s operating return on equity relative to its financial plan. The estimated fair value of Performance Shares and Performance Units will be remeasured each quarter until they become payable.

Beginning in 2015, MetLife, Inc. grants awards under the MetLife, Inc. 2015 Stock and Incentive Compensation Plan (successor to the MetLife, Inc. 2005 Stock and Incentive Compensation Plan) and the MetLife, Inc. 2015 Non-Management Director Stock Compensation Plan (successor to the MetLife, Inc. 2005 Non-Management Director Stock Compensation Plan), each of which was approved by MetLife, Inc. common stockholders in 2014.

Payout of 2012 – 2014 Performance Shares

Final Performance Shares are paid in shares of MetLife, Inc. common stock. The performance factor for the January 1, 2012 – December 31, 2014 performance period was 101%. This factor has been applied to the 1,756,839 Performance Shares associated with that performance period that vested on December 31, 2014 and, as a result, in April 2015, 1,774,407 shares of MetLife, Inc.’s common stock (less withholding for taxes and other items, as applicable) were issued, excluding shares that payees choose to defer.

Payout of 2012 – 2014 Performance Units

Final Performance Units are payable in cash equal to the closing price of MetLife, Inc. common stock on a date following the last day of the three-year performance period. The performance factor for the January 1, 2012 – December 31, 2014 performance period was 101%. This factor has been applied to the 129,734 Performance Units associated with that performance period that vested on December 31, 2014 and, as a result, in April 2015, the cash value of 131,031 units (less withholding for taxes and other items, as applicable) was paid.

Accumulated Other Comprehensive Income (Loss)

Information regarding changes in the balances of each component of AOCI attributable to MetLife, Inc., was as follows:

	Three Months   Ended   March 31, 2015
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)			Unrealized Gains (Losses) on Derivatives			Foreign Currency Translation Adjustments			Defined Benefit Plans Adjustment			Total
	(In millions)
Balance, beginning of period	$	15,159		$	1,076		$	(3,303	)	$	(2,283	)	$	10,649
OCI before reclassifications	1,626			187			(670		)	—			1,143
Deferred income tax benefit (expense)	(501		)	(66		)	(13		)	—			(580		)
OCI before reclassifications, net of income tax	16,284			1,197			(3,986		)	(2,283		)	11,212
Amounts reclassified from AOCI	(113		)	554			—			57			498
Deferred income tax benefit (expense)	35			(196		)	—			(20		)	(181		)
Amounts reclassified from AOCI, net of income tax	(78		)	358			—			37			317
Balance, end of period	$	16,206		$	1,555		$	(3,986	)	$	(2,246	)	$	11,529

	Three Months   Ended   March 31, 2014
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)			Unrealized Gains (Losses) on Derivatives			Foreign Currency Translation Adjustments			Defined Benefit Plans Adjustment			Total
	(In millions)
Balance, beginning of period	$	8,183		$	231		$	(1,659	)	$	(1,651	)	$	5,104
OCI before reclassifications	4,852			321			(217		)	—			4,956
Deferred income tax benefit (expense)	(1,645		)	(113		)	33			—			(1,725		)
OCI before reclassifications, net of income tax	11,390			439			(1,843		)	(1,651		)	8,335
Amounts reclassified from AOCI	(173		)	(54		)	—			45			(182		)
Deferred income tax benefit (expense)	59			19			—			(16		)	62
Amounts reclassified from AOCI, net of income tax	(114		)	(35		)	—			29			(120		)
Balance, end of period	$	11,276		$	404		$	(1,843	)	$	(1,622	)	$	8,215

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(1) See Note 5 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI, and the policyholder dividend obligation.

Information regarding amounts reclassified out of each component of AOCI was as follows:

AOCI Components	Amounts Reclassified from AOCI						Consolidated Statement of Operations and Comprehensive Income (Loss) Locations
	Three Months   Ended   March 31,
	2015			2014
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	139		$	112		Net investment gains (losses)
Net unrealized investment gains (losses)	40			26			Net investment income
Net unrealized investment gains (losses)	(66		)	35			Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	113			173
Income tax (expense) benefit	(35		)	(59		)
Net unrealized investment gains (losses), net of income tax	$	78		$	114
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	$	5		$	15		Net derivative gains (losses)
Interest rate swaps	3			2			Net investment income
Interest rate forwards	3			—			Net derivative gains (losses)
Interest rate forwards	1			1			Net investment income
Interest rate forwards	1			—			Other expenses
Foreign currency swaps	(567		)	36			Net derivative gains (losses)
Foreign currency swaps	—			(1		)	Net investment income
Foreign currency swaps	—			1			Other expenses
Gains (losses) on cash flow hedges, before income tax	(554		)	54
Income tax (expense) benefit	196			(19		)
Gains (losses) on cash flow hedges, net of income tax	$	(358	)	$	35
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)	$	(58	)	$	(44	)
Amortization of prior service (costs) credit	1			(1		)
Amortization of defined benefit plan items, before  income tax	(57		)	(45		)
Income tax (expense) benefit	20			16
Amortization of defined benefit plan items, net of income tax	$	(37	)	$	(29	)
Total reclassifications, net of income tax	$	(317	)	$	120

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(1) These AOCI components are included in the computation of net periodic benefit costs. See Note 11.