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Subsequent Event
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Event
14. Subsequent Events
Common Stock Repurchases
In the second quarter of 2017 through April 28, 2017, MetLife, Inc. repurchased 5,458,993 shares of its common stock in the open market for $285 million.
The Separation
On April 28, 2017, following receipt of applicable regulatory approvals, the Company completed the following financing transactions in connection with the Separation:
Collateral Financing Arrangement
MetLife, Inc. and MRSC terminated the collateral financing arrangement associated with secondary guarantees. As a result, the $2.8 billion collateral financing arrangement liability outstanding was extinguished utilizing $2.8 billion of assets held in trust, which had been repositioned into short-term investments and cash equivalents, with the remaining assets held in trust returned to MetLife, Inc. Total fees associated with the termination were $37 million, which will be expensed in the second quarter of 2017.
Committed Facilities
MetLife, Inc. and MetLife Reinsurance Company of Vermont terminated the $4.3 billion committed facility, and MetLife, Inc. and MRSC terminated the $3.5 billion committed facility. Total fees associated with the terminations were $257 million, which will be expensed in the second quarter of 2017.
Reinsurance Financing
Brighthouse Reinsurance Company of Delaware entered into a $7.8 billion financing arrangement supported by a pool of highly rated third-party reinsurers.
In connection with the foregoing transactions and the related mergers of certain captive reinsurance companies into Brighthouse Reinsurance Company of Delaware, MetLife, Inc. terminated various support arrangements with those non-surviving captive reinsurance companies.
Common Stock Dividend
On April 25, 2017, the MetLife, Inc. Board of Directors declared a second quarter 2017 common stock dividend of $0.40 per share payable on June 13, 2017 to shareholders of record as of May 8, 2017. The Company estimates that the aggregate dividend payment will be $432 million.