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Equity (Tables)
 12 Months Ended
Dec. 31, 2016
Class of Stock [Line Items]  
Schedule of Stock by Class [Table Text Block]
Preferred stock authorized, issued and outstanding was as follows at both December 31, 2016 and 2015:
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
Schedule of Dividends Paid, Preferred Stock
Information on the declaration, record and payment dates, as well as per share and aggregate dividend amounts, for the Series A, Series B and Series C preferred stock was as follows:
 
 
 
 
 
 
Dividend
Declaration Date
 
Record Date
 
Payment Date
 
Series A
Per Share
 
Series A
Aggregate
 
Series B
Per Share
 
Series B
Aggregate
 
Series C
Per Share
 
Series C
Aggregate
 
 
 
 
 
 
(In millions, except per share data)
November 15, 2016
 
November 30, 2016
 
December 15, 2016
 
$
0.253

 
$
6

 
$
—

 
$
—

 
$
26.250

 
$
39

August 15, 2016
 
August 31, 2016
 
September 15, 2016
 
$
0.256

 
6

 
$
—

 
—

 
$
—

 
—

May 16, 2016
 
May 31, 2016
 
June 15, 2016
 
$
0.256

 
7

 
$
—

 
—

 
$
26.250

 
39

March 7, 2016
 
February 29, 2016
 
March 15, 2016
 
$
0.253

 
6

 
$
—

 
—

 
$
—

 
—

 
 
 
 
 
 
 
 
$
25

 
 
 
$
—

 
 
 
$
78

November 16, 2015
 
November 30, 2015
 
December 15, 2015
 
$
0.253

 
$
6

 
$
—

 
$
—

 
$
28.292

 
$
43

August 17, 2015
 
August 31, 2015
 
September 15, 2015
 
$
0.256

 
6

 
$
—

 
—

 
$
—

 
—

May 15, 2015
 
May 31, 2015
 
June 15, 2015
 
$
0.256

 
7

 
$
0.406

 
24

 
$
—

 
—

March 5, 2015
 
February 28, 2015
 
March 16, 2015
 
$
0.250

 
6

 
$
0.406

 
24

 
$
—

 
—

 
 
 
 
 
 
 
 
$
25

 
 
 
$
48

 
 
 
$
43

November 17, 2014
 
November 30, 2014
 
December 15, 2014
 
$
0.253

 
$
7

 
$
0.406

 
$
24

 
$
—

 
$
—

August 15, 2014
 
August 31, 2014
 
September 15, 2014
 
$
0.256

 
6

 
$
0.406

 
24

 
$
—

 
—

May 15, 2014
 
May 31, 2014
 
June 16, 2014
 
$
0.256

 
7

 
$
0.406

 
24

 
$
—

 
—

March 5, 2014
 
February 28, 2014
 
March 17, 2014
 
$
0.250

 
6

 
$
0.406

 
24

 
$
—

 
—

 
 
 
 
 
 
 
 
$
26

 
 
 
$
96

 
 
 
$
—
Schedule of Dividends Paid, Common Stock
The table below presents declaration, record and payment dates, as well as per share and aggregate dividend amounts, for common stock:
 
 
 
 
 
 
Dividend
Declaration Date
 
 Record Date
 
 Payment Date
 
Per Share
 
Aggregate
 
 
 
 
 
 
(In millions, except per share data)
October 25, 2016
 
November 7, 2016
 
December 13, 2016
 
$
0.400

 
$
441

July 7, 2016
 
August 8, 2016
 
September 13, 2016
 
$
0.400

 
441

April 26, 2016
 
May 9, 2016
 
June 13, 2016
 
$
0.400

 
441

January 6, 2016
 
February 5, 2016
 
March 14, 2016
 
$
0.375

 
413

 
 
 
 
 
 
 
 
$
1,736

October 27, 2015
 
November 6, 2015
 
December 11, 2015
 
$
0.375

 
$
419

July 7, 2015
 
August 7, 2015
 
September 11, 2015
 
$
0.375

 
420

April 28, 2015
 
May 11, 2015
 
June 12, 2015
 
$
0.375

 
420

January 6, 2015
 
February 6, 2015
 
March 13, 2015
 
$
0.350

 
394

 
 
 
 
 
 
 
 
$
1,653

October 28, 2014
 
November 7, 2014
 
December 12, 2014
 
$
0.350

 
$
398

July 7, 2014
 
August 8, 2014
 
September 12, 2014
 
$
0.350

 
395

April 22, 2014
 
May 9, 2014
 
June 13, 2014
 
$
0.350

 
395

January 6, 2014
 
February 6, 2014
 
March 13, 2014
 
$
0.275

 
311

 
 
 
 
 
 
 
 
$
1,499
Components of compensation expense related to stock based compensation
The components of compensation expense related to stock-based compensation includes compensation expense related to Phantom Stock-Based Awards, and excludes the insignificant compensation expense related to the 2015 Director Stock Plan. Those components were:
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
(In millions)
Stock Options and Unit Options
$
9

 
$
12

 
$
26

Performance Shares and Performance Units (1)
75

 
59

 
103

Restricted Stock Units and Restricted Units
63

 
66

 
47

Total compensation expense
$
147

 
$
137

 
$
176

Income tax benefit
$
51

 
$
48

 
$
62

__________________
(1)
Performance Shares expected to vest and the related compensation expenses may be further adjusted by the performance factor most likely to be achieved, as estimated by management, at the end of the performance period.
Total unrecognized compensation expense related to stock based compensation and the expected weighted average period over which the expenses will be recognized
The following table presents the total unrecognized compensation expense related to stock-based compensation and the expected weighted average period over which these expenses will be recognized at:
 
December 31, 2016
 
Expense
 
Weighted Average
Period
 
(In millions)
 
(Years)
Stock Options
$
4

 
1.65
Performance Shares
$
33

 
1.73
Restricted Stock Units
$
41

 
1.80
Activity related to Stock Options
A summary of the activity related to Stock Options was as follows:
 
Shares
Under
Option
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value (1)
 
 
 
 
 
(Years)
 
(In millions)
Outstanding at January 1, 2016
23,506,764

 
$
44.50

 
4.09
 
$
166

Granted
900,764

 
$
38.42

 
 
 
 
Exercised
(2,432,001
)
 
$
34.36

 
 
 
 
Expired
(2,429,009
)
 
$
50.50

 
 
 
 
Forfeited
(64,130
)
 
$
45.90

 
 
 
 
Outstanding at December 31, 2016
19,482,388

 
$
44.73

 
3.68
 
$
218

Vested and expected to vest at December 31, 2016
19,314,192

 
$
44.72

 
3.69
 
$
217

Exercisable at December 31, 2016
17,913,612

 
$
44.79

 
3.28
 
$
202

__________________
(1)
The intrinsic value of each Stock Option is the closing price on a particular date less the exercise price of the Stock Option, so long as the difference is greater than zero. The aggregate intrinsic value of all outstanding Stock Options is computed using the closing Share price on December 31, 2016 of $53.89 and December 31, 2015 of $48.21, as applicable.
Weighted average assumptions used to determine the fair value of Stock Options issued
The following table presents the weighted average assumptions, with the exception of risk-free rate, which is expressed as a range, that the model uses to determine the fair value of unexercised Stock Options that MetLife, Inc. has granted:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
Dividend yield
 
3.90%
 
2.72%
 
2.18%
Risk-free rate of return
 
0.62% - 2.85%
 
0.20% - 3.04%
 
0.12% - 5.07%
Expected volatility
 
33.58%
 
32.56%
 
33.26%
Exercise multiple
 
1.43
 
1.44
 
1.45
Post-vesting termination rate
 
2.58%
 
2.73%
 
2.93%
Contractual term (years)
 
10

 
10

 
10

Expected life (years)
 
7

 
7

 
6

Weighted average exercise price of stock options granted
 
$
38.42

 
$
51.39

 
$
50.53

Weighted average fair value of stock options granted
 
$
9.26

 
$
13.29

 
$
13.84
Stock Option exercise activity
The following table presents a summary of Stock Option exercise activity:
 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
 
(In millions)
Total intrinsic value of stock options exercised
 
$
42

 
$
44

 
$
67

Cash received from exercise of stock options
 
$
84

 
$
121

 
$
156

Income tax benefit realized from stock options exercised
 
$
15

 
$
15

 
$
24
Performance Share and Restricted Stock Unit Activity
The following table presents a summary of Performance Share and Restricted Stock Unit activity:
 
Performance Shares
 
Restricted Stock Units
 
Shares
 
Weighted
Average
Fair Value (2)
 
Units
 
Weighted
Average
Fair Value (2)
Outstanding at January 1, 2016
3,907,174

 
$
44.08

 
3,078,959

 
$
43.50

Granted
1,661,925

 
$
49.65

 
2,075,089

 
$
33.67

Forfeited
(159,358
)
 
$
49.91

 
(192,248
)
 
$
39.88

Payable (1)
(1,592,641
)
 
$
44.57

 
(1,539,787
)
 
$
40.52

Outstanding at December 31, 2016
3,817,100

 
$
49.88

 
3,422,013

 
$
39.08

Vested and expected to vest at December 31, 2016
3,637,175

 
$
49.89

 
3,279,076

 
$
39.23

__________________
(1)
Includes both Shares paid and Deferred Shares for later payment.
(2)
Values for shares outstanding at January 1, 2016, represent weighted average number of shares multiplied by the fair value per share at December 31, 2015. Otherwise, all values represent weighted average of number of shares multiplied by the fair value per share at December 31, 2016. Fair value per share of Restricted Stock Units on December 31, 2016 was equal to Grant Date fair value per share.
Liability Award Unit Activity
The following table presents a summary of Liability Awards activity:
 
Unit
Options
 
Restricted
Units
 
Performance
Units
Outstanding at January 1, 2016
975,529

 
661,892

 
611,272

Granted
27,800

 
485,171

 
278,833

Exercised
(91,752
)
 
—

 
—

Forfeited
(55,680
)
 
(76,651
)
 
(39,086
)
Paid
—

 
(306,689
)
 
(235,663
)
Outstanding at December 31, 2016
855,897

 
763,723

 
615,356

Vested and expected to vest at December 31, 2016
770,307

 
687,351

 
553,820
Schedules of statutory net income, capital and surplus and reserve strengthening by subsidiary
Statutory net income (loss) was as follows:
 
 
 
 
Years Ended December 31,
Company
 
State of Domicile
 
2016
 
2015
 
2014
 
 
 
 
(In millions)
Metropolitan Life Insurance Company (1)
 
New York
 
$
3,444

 
$
3,703

 
$
1,487

American Life Insurance Company
 
Delaware
 
$
341

 
$
335

 
$
(36
)
Brighthouse Life Insurance Company (2)
 
Delaware
 
$
1,186

 
$
(1,022
)
 
$
1,543

Metropolitan Property and Casualty Insurance Company
 
Rhode Island
 
$
171

 
$
204

 
$
291

Metropolitan Tower Life Insurance Company
 
Delaware
 
$
8

 
$
(42
)
 
$
51

New England Life Insurance Company (2)
 
Massachusetts
 
$
109

 
$
157

 
$
303

General American Life Insurance Company
 
Missouri
 
$
(2
)
 
$
204

 
$
129

Other
 
Various
 
$
(70
)
 
$
20

 
$
22


__________________
(1)
In December 2016, MLIC transferred all of the issued and outstanding shares of the common stock of each of New England Life Insurance Company (“NELICO”) and General American Life Insurance Company (“GALIC”) to MetLife, Inc., in the form of a non-cash extraordinary dividend.
(2)
Effective April 28, 2017 in connection with the Separation, MetLife, Inc. contributed all of the issued and outstanding shares of common stock of each of Brighthouse Life Insurance Company (formerly, MetLife Insurance Company USA) (“Brighthouse Insurance”) and NELICO to Brighthouse Holdings, LLC. As a result of the Separation, Brighthouse Insurance and NELICO ceased to be subsidiaries of MetLife, Inc.
Statutory capital and surplus was as follows at:
 
 
December 31,
Company
 
2016
 
2015
 
 
(In millions)
 
Metropolitan Life Insurance Company (1)
 
$
11,195

 
$
14,485

(2
)
American Life Insurance Company
 
$
5,235

 
$
6,115

 
Brighthouse Life Insurance Company (3)
 
$
4,374

 
$
5,942

 
Metropolitan Property and Casualty Insurance Company
 
$
2,271

 
$
2,335

 
Metropolitan Tower Life Insurance Company
 
$
669

 
$
710

 
New England Life Insurance Company (3)
 
$
455

 
$
632

(2
)
General American Life Insurance Company
 
$
923

 
$
984

(2
)
Other
 
$
303

 
$
417

 

__________________
(1)
In December 2016, MLIC transferred all of the issued and outstanding shares of the common stock of each of NELICO and GALIC to MetLife, Inc. in the form of a non-cash extraordinary dividend.
(2)
In 2015, NELICO and GALIC’s capital and surplus was included in MLIC’s total as they were subsidiaries of MLIC.
(3)
Effective April 28, 2017 in connection with the Separation, MetLife, Inc. contributed all of the issued and outstanding shares of common stock of each of Brighthouse Insurance and NELICO to Brighthouse Holdings, LLC. As a result of the Separation, Brighthouse Insurance and NELICO ceased to be subsidiaries of MetLife, Inc.
Dividend Payment Restrictions
The table below sets forth the dividends permitted to be paid by MetLife, Inc.’s primary insurance subsidiaries prior to the Separation without insurance regulatory approval and dividends paid:
 
 
2017
 
2016
 
2015
Company
 
Permitted Without
Approval (1)
 
Paid (2)
 
Paid (2)
 
 
(In millions)
 
Metropolitan Life Insurance Company 
 
$
2,723

 
 
$
5,740

(3
)
 
$
1,489

 
American Life Insurance Company
 
$
—

 
 
$
—

 
 
$
—

 
Brighthouse Life Insurance Company
 
$
473

(4
)
 
$
261

 
 
$
500

 
Metropolitan Property and Casualty Insurance Company
 
$
98

 
 
$
228

 
 
$
235

 
Metropolitan Tower Life Insurance Company
 
$
66

 
 
$
60

 
 
$
102

 
New England Life Insurance Company
 
$
106

(4
)
 
$
295

(5
)
 
$
199

(5
)
General American Life Insurance Company
 
$
91

 
 
$
—

 
 
$
—

 
__________________
(1)
Reflects dividend amounts that may be paid during 2017 without prior regulatory approval. However, because dividend tests may be based on dividends previously paid over rolling 12-month periods, if paid before a specified date during 2017, some or all of such dividends may require regulatory approval. See also note (4) below regarding the impact of the Separation on the dividends permitted to be paid by Brighthouse Insurance and NELICO.
(2)
Reflects all amounts paid, including those requiring regulatory approval.
(3)
In 2016, MLIC paid an ordinary cash dividend to MetLife, Inc. in the amount of $3.6 billion. In addition, in December 2016, MLIC distributed all of the issued and outstanding shares of common stock of each of NELICO and GALIC to MetLife, Inc. in the form of a non-cash extraordinary dividend in the amount of $981 million and $1.2 billion, respectively, as calculated on a statutory basis.
(4)
Effective April 28, 2017 in connection with the Separation, MetLife, Inc. contributed all of the issued and outstanding shares of common stock of each of Brighthouse Insurance and NELICO to Brighthouse Holdings, LLC. As a result of the Separation, Brighthouse Insurance and NELICO ceased to be subsidiaries of MetLife, Inc. Accordingly, any dividends paid by Brighthouse Insurance and NELICO following the Separation will be paid to Brighthouse Financial, Inc. or its subsidiaries. MetLife will not receive the proceeds of any such dividends after the Separation.
(5)
Dividends paid by NELICO in 2015 were paid to its former parent, MLIC. Dividends paid by NELICO in 2016, including a $295 million extraordinary cash dividend, were paid to MetLife, Inc.
Components of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI attributable to MetLife, Inc., was as follows:
 
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 at December 31, 2013
$
8,183

 
$
231

 
$
(1,659
)
 
$
(1,651
)
 
$
5,104

OCI before reclassifications
11,197

 
669

 
(1,492
)
 
(1,150
)
 
9,224

Deferred income tax benefit (expense)
(3,419
)
 
(261
)
 
(208
)
 
401

 
(3,487
)
AOCI before reclassifications, net of income tax
15,961

 
639

 
(3,359
)
 
(2,400
)
 
10,841

Amounts reclassified from AOCI
(811
)
 
717

 
77

 
180

 
163

Deferred income tax benefit (expense)
249

 
(280
)
 
(27
)
 
(63
)
 
(121
)
Amounts reclassified from AOCI, net of income tax
(562
)
 
437

 
50

 
117

 
42

Sale of subsidiary (2)
(320
)
 
—

 
6

 
—

 
(314
)
Deferred income tax benefit (expense)
80

 
—

 
—

 
—

 
80

Sale of subsidiary, net of income tax
(240
)
 
—

 
6

 
—

 
(234
)
Balance at December 31, 2014
15,159

 
1,076

 
(3,303
)
 
(2,283
)
 
10,649

OCI before reclassifications
(7,218
)
 
(19
)
 
(1,646
)
 
125

 
(8,758
)
Deferred income tax benefit (expense)
2,519

 
6

 
(1
)
 
(43
)
 
2,481

AOCI before reclassifications, net of income tax
10,460

 
1,063

 
(4,950
)
 
(2,201
)
 
4,372

Amounts reclassified from AOCI
(223
)
 
608

 
—

 
229

 
614

Deferred income tax benefit (expense)
78

 
(213
)
 
—

 
(80
)
 
(215
)
Amounts reclassified from AOCI, net of income tax
(145
)
 
395

 
—

 
149

 
399

Balance at December 31, 2015
10,315

 
1,458

 
(4,950
)
 
(2,052
)
 
4,771

OCI before reclassifications
764

 
344

 
(476
)
 
(62
)
 
570

Deferred income tax benefit (expense)
(325
)
 
(100
)
 
114

 
24

 
(287
)
AOCI before reclassifications, net of income tax
10,754

 
1,702

 
(5,312
)
 
(2,090
)
 
5,054

Amounts reclassified from AOCI
21

 
229

 
—

 
193

 
443

Deferred income tax benefit (expense)
(9
)
 
(66
)
 
—

 
(75
)
 
(150
)
Amounts reclassified from AOCI, net of income tax
12

 
163

 
—

 
118

 
293

Balance at December 31, 2016
$
10,766

 
$
1,865

 
$
(5,312
)
 
$
(1,972
)
 
$
5,347

__________________
(1)
See Note 8 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI, and the policyholder dividend obligation.
(2)
See Note 3.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
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
 
 
Years Ended December 31,
 
 
 
 
2016
 
2015
 
2014
 
 
 
 
(In millions)
 
 
Net unrealized investment gains (losses):
 
 
 
 
 
 
 
 
Net unrealized investment gains (losses)
 
$
78

 
$
263

 
$
673

 
Net investment gains (losses)
Net unrealized investment gains (losses)
 
39

 
35

 
53

 
Net investment income
Net unrealized investment gains (losses)
 
(37
)
 
56

 
136

 
Net derivative gains (losses)
Net unrealized investment gains (losses)
 
(101
)
 
(131
)
 
(51
)
 
Discontinued operations
Net unrealized investment gains (losses), before income tax
 
(21
)
 
223

 
811

 
 
Income tax (expense) benefit
 
9

 
(78
)
 
(249
)
 
 
Net unrealized investment gains (losses), net of income tax
 
(12
)
 
145

 
562

 
 
Unrealized gains (losses) on derivatives - cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate swaps
 
56

 
84

 
41

 
Net derivative gains (losses)
Interest rate swaps
 
12

 
11

 
8

 
Net investment income
Interest rate swaps
 
36

 
2

 
2

 
Discontinued operations
Interest rate forwards
 
(1
)
 
4

 
(8
)
 
Net derivative gains (losses)
Interest rate forwards
 
4

 
3

 
3

 
Net investment income
Interest rate forwards
 
1

 
2

 
2

 
Other expenses
Interest rate forwards
 
4

 
4

 
2

 
Discontinued operations
Foreign currency swaps
 
(350
)
 
(720
)
 
(762
)
 
Net derivative gains (losses)
Foreign currency swaps
 
(2
)
 
(1
)
 
(2
)
 
Net investment income
Foreign currency swaps
 
2

 
1

 
2

 
Other expenses
Foreign currency swaps
 
5

 
—

 
(6
)
 
Discontinued operations
Credit forwards
 
3

 
1

 
—

 
Net derivative gains (losses)
Credit forwards
 
1

 
—

 
1

 
Net investment income
Credit forwards
 
—

 
1

 
—

 
Discontinued operations
Gains (losses) on cash flow hedges, before income tax
 
(229
)
 
(608
)
 
(717
)
 
 
Income tax (expense) benefit
 
66

 
213

 
280

 
 
Gains (losses) on cash flow hedges, net of income tax
 
(163
)
 
(395
)
 
(437
)
 
 
Foreign currency translation adjustment
 
—

 
—

 
(77
)
 
Net investment gains (losses)
Income tax (expense) benefit
 
—

 
—

 
27

 
 
Foreign currency translation adjustment, net of income tax
 
—

 
—

 
(50
)
 
 
Defined benefit plans adjustment: (1)
 
 
 
 
 
 
 
 
Amortization of net actuarial gains (losses)
 
(199
)
 
(231
)
 
(179
)
 
 
Amortization of prior service (costs) credit
 
6

 
6

 
4

 
 
Discontinued operations
 
—

 
(4
)
 
(5
)
 
 
Amortization of defined benefit plan items, before income tax
 
(193
)
 
(229
)
 
(180
)
 
 
Income tax (expense) benefit
 
75

 
80

 
63

 
 
Amortization of defined benefit plan items, net of income tax
 
(118
)
 
(149
)
 
(117
)
 
 
Total reclassifications, net of income tax
 
$
(293
)
 
$
(399
)
 
$
(42
)
 
 
__________________
(1)
These AOCI components are included in the computation of net periodic benefit costs. See Note 18.