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Equity
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Equity [Text Block]
10. Equity
Preferred Stock
Preferred stock authorized, issued and outstanding was as follows at both June 30, 2017 and December 31, 2016:
Series
 
Shares
Authorized
 
Shares
Issued
 
Shares
Outstanding
Floating Rate Non-Cumulative Preferred Stock, Series A
 
27,600,000

 
24,000,000

 
24,000,000

5.25% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C
 
1,500,000

 
1,500,000

 
1,500,000

Series A Junior Participating Preferred Stock
 
10,000,000

 
—

 
—

Not designated
 
160,900,000

 
—

 
—

Total
 
200,000,000

 
25,500,000

 
25,500,000

Common Stock
During the six months ended June 30, 2017 and 2016, MetLife, Inc. repurchased 34,354,967 and 1,445,864 shares through open market purchases for $1.8 billion and $70 million, respectively. See Note 15 for information on subsequent common stock repurchases.
At June 30, 2017, MetLife, Inc. had $888 million remaining under the common stock repurchase authorization. Common stock repurchases are 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
Final Performance Shares are paid in shares of MetLife, Inc. common stock. 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, 2014 – December 31, 2016 performance period was 44.4%, which was determined within a possible range from 0% to 175%. This factor has been applied to the 1,066,076 Performance Shares and 165,587 Performance Units associated with that performance period that vested on December 31, 2016. As a result, in the first quarter of 2017, MetLife, Inc. issued 473,338 shares of its common stock (less withholding for taxes and other items, as applicable), excluding shares that payees choose to defer, and MetLife, Inc. or its affiliates paid the cash value of 73,521 Performance Units (less withholding for taxes and other items, as applicable).
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
June 30, 2017
 
 
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
 
$
11,336

 
$
1,853

 
$
(4,842
)
 
$
(1,951
)
 
$
6,396

OCI before reclassifications
 
3,290

 
(7
)
 
169

 
1

 
3,453

Deferred income tax benefit (expense)
 
(1,132
)
 
3

 
(6
)
 
3

 
(1,132
)
AOCI before reclassifications, net of income tax
 
13,494

 
1,849

 
(4,679
)
 
(1,947
)
 
8,717

Amounts reclassified from AOCI
 
(47
)
 
(429
)
 
—

 
41

 
(435
)
Deferred income tax benefit (expense)
 
22

 
149

 
—

 
(17
)
 
154

Amounts reclassified from AOCI, net of income tax
 
(25
)
 
(280
)
 
—

 
24

 
(281
)
Balance, end of period
 
$
13,469

 
$
1,569

 
$
(4,679
)
 
$
(1,923
)
 
$
8,436

 
 
 
Three Months
Ended
June 30, 2016
 
 
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
 
$
15,446

 
$
1,725

 
$
(4,282
)
 
$
(2,024
)
 
$
10,865

OCI before reclassifications
 
4,268

 
800

 
209

 
11

 
5,288

Deferred income tax benefit (expense)
 
(1,388
)
 
(269
)
 
53

 
(4
)
 
(1,608
)
AOCI before reclassifications, net of income tax
 
18,326

 
2,256

 
(4,020
)
 
(2,017
)
 
14,545

Amounts reclassified from AOCI
 
(183
)
 
243

 
—

 
51

 
111

Deferred income tax benefit (expense)
 
61

 
(68
)
 
—

 
(17
)
 
(24
)
Amounts reclassified from AOCI, net of income tax
 
(122
)
 
175

 
—

 
34

 
87

Balance, end of period
 
$
18,204

 
$
2,431

 
$
(4,020
)
 
$
(1,983
)
 
$
14,632

 
 
Six Months
Ended
June 30, 2017
 
 
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
 
$
10,766

 
$
1,865

 
$
(5,312
)
 
$
(1,972
)
 
$
5,347

OCI before reclassifications
 
4,023

 
203

 
517

 
(19
)
 
4,724

Deferred income tax benefit (expense)
 
(1,416
)
 
(70
)
 
116

 
5

 
(1,365
)
AOCI before reclassifications, net of income tax
 
13,373

 
1,998

 
(4,679
)
 
(1,986
)
 
8,706

Amounts reclassified from AOCI
 
149

 
(658
)
 
—

 
85

 
(424
)
Deferred income tax benefit (expense)
 
(53
)
 
229

 
—

 
(22
)
 
154

Amounts reclassified from AOCI, net of income tax
 
96

 
(429
)
 
—

 
63

 
(270
)
Balance, end of period
 
$
13,469

 
$
1,569

 
$
(4,679
)
 
$
(1,923
)
 
$
8,436

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months
Ended
June 30, 2016
 
 
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
 
$
10,315

 
$
1,458

 
$
(4,950
)
 
$
(2,052
)
 
$
4,771

OCI before reclassifications
 
11,938

 
1,496

 
760

 
11

 
14,205

Deferred income tax benefit (expense)
 
(3,937
)
 
(468
)
 
170

 
(4
)
 
(4,239
)
AOCI before reclassifications, net of income tax
 
18,316

 
2,486

 
(4,020
)
 
(2,045
)
 
14,737

Amounts reclassified from AOCI
 
(166
)
 
(80
)
 
—

 
99

 
(147
)
Deferred income tax benefit (expense)
 
54

 
25

 
—

 
(37
)
 
42

Amounts reclassified from AOCI, net of income tax
 
(112
)
 
(55
)
 
—

 
62

 
(105
)
Balance, end of period
 
$
18,204

 
$
2,431

 
$
(4,020
)
 
$
(1,983
)
 
$
14,632

__________________
(1)
See Note 6 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 Statements of
Operations and
Comprehensive Income (Loss)
Locations
 
 
Three Months
Ended
June 30,
 
Six Months
Ended
June 30,
 
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
(In millions)
 
 
Net unrealized investment gains (losses):
 
 
 
 
 
 
 
 
 
 
Net unrealized investment gains (losses)
 
$
46

 
$
158

 
$
38

 
$
125

 
Net investment gains (losses)
Net unrealized investment gains (losses)
 
(4
)
 
16

 
3

 
19

 
Net investment income
Net unrealized investment gains (losses)
 
5

 
9

 
(190
)
 
22

 
Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
 
47

 
183

 
(149
)
 
166

 
 
Income tax (expense) benefit
 
(22
)
 
(61
)
 
53

 
(54
)
 
 
Net unrealized investment gains (losses), net of income tax
 
25

 
122

 
(96
)
 
112

 
 
Unrealized gains (losses) on derivatives - cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
6

 
18

 
14

 
28

 
Net derivative gains (losses)
Interest rate swaps
 
4

 
4

 
9

 
7

 
Net investment income
Interest rate forwards
 
2

 
(1
)
 
(2
)
 
1

 
Net derivative gains (losses)
Interest rate forwards
 
2

 
2

 
3

 
3

 
Net investment income
Interest rate forwards
 
1

 
1

 
1

 
1

 
Other expenses
Foreign currency swaps
 
414

 
(269
)
 
632

 
37

 
Net derivative gains (losses)
Foreign currency swaps
 
(1
)
 
(1
)
 
(1
)
 
(1
)
 
Net investment income
Foreign currency swaps
 
—

 
—

 
1

 
1

 
Other expenses
Credit forwards
 
1

 
3

 
1

 
3

 
Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax
 
429

 
(243
)
 
658

 
80

 
 
Income tax (expense) benefit
 
(149
)
 
68

 
(229
)
 
(25
)
 
 
Gains (losses) on cash flow hedges, net of income tax
 
280

 
(175
)
 
429

 
55

 
 
Defined benefit plans adjustment: (1)
 
 
 
 
 
 
 
 
 
 
Amortization of net actuarial gains (losses)
 
(48
)
 
(52
)
 
(97
)
 
(103
)
 
 
Amortization of prior service (costs) credit
 
7

 
1

 
12

 
4

 
 
Amortization of defined benefit plan items, before income tax
 
(41
)
 
(51
)
 
(85
)
 
(99
)
 
 
Income tax (expense) benefit
 
17

 
17

 
22

 
37

 
 
Amortization of defined benefit plan items, net of income tax
 
(24
)
 
(34
)
 
(63
)
 
(62
)
 
 
Total reclassifications, net of income tax
 
$
281

 
$
(87
)
 
$
270

 
$
105

 
 
__________________
(1)
These AOCI components are included in the computation of net periodic benefit costs. See Note 12.