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Quarterly Results of Operations (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
21. Quarterly Results of Operations (Unaudited)
The unaudited quarterly results of operations for 2017 and 2016 are summarized in the table below:
 
 
Three Months Ended
 
 
March 31, 2017
 
June 30, 2017
 
September 30, 2017
 
December 31, 2017
 
 
Prior to
 Revision (1)
 
Revisions (2)
 
As
Revised
 
Prior to
Revision (1)
 
Revisions (2)
 
As
Revised
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
 
(in millions, except per share data)
Total revenues
 
$
14,925

 
$
39

 
$
14,964

 
$
15,286


$
47

 
$
15,333

 
$
16,104

 
$
67

 
$
16,171

 
$
15,754


$
86

 
$
15,840

Total expenses
 
$
13,921

 
$
(29
)
 
$
13,892

 
$
14,309


$
6

 
$
14,315

 
$
15,603

 
$
83

 
$
15,686

 
$
14,879


$

 
$
14,879

Income (loss) from continuing operations, net of income tax
 
$
908

 
$
44

 
$
952

 
$
829


$
27

 
$
856

 
$
893

 
$
(10
)
 
$
883

 
$
2,134


$
181

 
$
2,315

Income (loss) from discontinued operations, net of income tax
 
$
(79
)
 
$
3

 
$
(76
)
 
$
58


$

 
$
58

 
$
(968
)
 
$

 
$
(968
)
 
$


$

 
$

Net income (loss)
 
$
829

 
$
47

 
$
876

 
$
887


$
27

 
$
914

 
$
(75
)
 
$
(10
)
 
$
(85
)
 
$
2,134


$
181

 
$
2,315

Less: Net income (loss) attributable to noncontrolling interests
 
$
3

 
$

 
$
3

 
$
3


$

 
$
3

 
$
6

 
$

 
$
6

 
$
(2
)

$

 
$
(2
)
Net income (loss) attributable to MetLife, Inc.
 
$
826

 
$
47

 
$
873

 
$
884


$
27

 
$
911

 
$
(81
)
 
$
(10
)
 
$
(91
)
 
$
2,136


$
181

 
$
2,317

Less: Preferred stock dividends
 
$
6

 
$

 
$
6

 
$
46


$

 
$
46

 
$
6

 
$

 
$
6

 
$
45


$

 
$
45

Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
820

 
$
47

 
$
867

 
$
838


$
27

 
$
865

 
$
(87
)

$
(10
)
 
$
(97
)
 
$
2,091


$
181

 
$
2,272

Basic earnings per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common shareholders
 
$
0.82


$
0.05

 
$
0.87

 
$
0.73


$
0.03

 
$
0.76

 
$
0.83


$
(0.01
)
 
$
0.82

 
$
1.99


$
0.17

 
$
2.16

Income (loss) from discontinued operations, net of income tax, attributable to MetLife, Inc.
 
$
(0.07
)

$

 
$
(0.07
)
 
$
0.05


$

 
$
0.05

 
$
(0.91
)

$

 
$
(0.91
)
 
$


$

 
$

Net income (loss) attributable to MetLife, Inc.
 
$
0.76


$
0.04

 
$
0.80

 
$
0.82


$
0.04

 
$
0.86

 
$
(0.08
)

$
(0.01
)
 
$
(0.09
)
 
$
2.03


$
0.17

 
$
2.20

Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
0.75


$
0.05

 
$
0.80

 
$
0.78


$
0.03

 
$
0.81

 
$
(0.08
)

$
(0.01
)
 
$
(0.09
)
 
$
1.99


$
0.17

 
$
2.16

Diluted earnings per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common shareholders
 
$
0.82


$
0.04

 
$
0.86

 
$
0.72


$
0.03

 
$
0.75

 
$
0.82


$
(0.01
)
 
$
0.81

 
$
1.97


$
0.17

 
$
2.14

Income (loss) from discontinued operations, net of income tax, attributable to MetLife, Inc.
 
$
(0.07
)

$

 
$
(0.07
)
 
$
0.05


$

 
$
0.05

 
$
(0.90
)

$

 
$
(0.90
)
 
$


$

 
$

Net income (loss) attributable to MetLife, Inc.
 
$
0.75


$
0.04

 
$
0.79

 
$
0.82


$
0.03

 
$
0.85

 
$
(0.08
)

$

 
$
(0.08
)
 
$
2.01


$
0.17

 
$
2.18

Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
0.75


$
0.04

 
$
0.79

 
$
0.77


$
0.03

 
$
0.80

 
$
(0.08
)

$
(0.01
)
 
$
(0.09
)
 
$
1.97


$
0.17

 
$
2.14


 
 
Three Months Ended
 
 
March 31, 2016
 
June 30, 2016
 
September 30, 2016
 
December 31, 2016
 
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
As
Previously
Reported
 
Revisions (2)
 
As
Revised
 
 
(in millions, except per share data)
Total revenues
 
$
16,097

 
$
148

 
$
16,245

 
$
16,025

 
$
324

 
$
16,349

 
$
15,833

 
$
(27
)
 
$
15,806

 
$
12,635

 
$
(248
)
 
$
12,387

Total expenses
 
$
13,780

 
$
(28
)
 
$
13,752

 
$
13,979

 
$

 
$
13,979

 
$
14,674

 
$
43

 
$
14,717

 
$
14,017

 
$
41

 
$
14,058

Income (loss) from continuing operations, net of income tax
 
$
1,770

 
$
130

 
$
1,900

 
$
1,475

 
$
211

 
$
1,686

 
$
1,024

 
$
(51
)
 
$
973

 
$
(795
)
 
$
(176
)
 
$
(971
)
Income (loss) from discontinued operations, net of income tax
 
$
433

 
$
(1
)
 
$
432

 
$
(1,361
)
 
$

 
$
(1,361
)
 
$
(451
)
 
$
16

 
$
(435
)
 
$
(1,291
)
 
$
(79
)
 
$
(1,370
)
Net income (loss)
 
$
2,203

 
$
129

 
$
2,332

 
$
114

 
$
211

 
$
325

 
$
573

 
$
(35
)
 
$
538

 
$
(2,086
)
 
$
(255
)
 
$
(2,341
)
Less: Net income (loss) attributable to noncontrolling interests
 
$
2

 
$

 
$
2

 
$
4

 
$

 
$
4

 
$
(4
)
 
$

 
$
(4
)
 
$
2

 
$

 
$
2

Net income (loss) attributable to MetLife, Inc.
 
$
2,201

 
$
129

 
$
2,330

 
$
110

 
$
211

 
$
321

 
$
577

 
$
(35
)
 
$
542

 
$
(2,088
)
 
$
(255
)
 
$
(2,343
)
Less: Preferred stock dividends
 
$
6

 
$

 
$
6

 
$
46

 
$

 
$
46

 
$
6

 
$

 
$
6

 
$
45

 
$

 
$
45

Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
2,195

 
$
129

 
$
2,324

 
$
64

 
$
211

 
$
275

 
$
571

 
$
(35
)
 
$
536

 
$
(2,133
)
 
$
(255
)
 
$
(2,388
)
Basic earnings per common share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common shareholders
 
$
1.60

 
$
0.12

 
$
1.72

 
$
1.30

 
$
0.19

 
$
1.49

 
$
0.93

 
$
(0.05
)
 
$
0.88

 
$
(0.77
)
 
$
(0.15
)
 
$
(0.92
)
Income (loss) from discontinued operations, net of income tax, attributable to MetLife, Inc.
 
$
0.39

 
$

 
$
0.39

 
$
(1.24
)
 
$

 
$
(1.24
)
 
$
(0.41
)
 
$
0.02

 
$
(0.39
)
 
$
(1.17
)
 
$
(0.08
)
 
$
(1.25
)
Net income (loss) attributable to MetLife, Inc.
 
$
2.00

 
$
0.12

 
$
2.12

 
$
0.10

 
$
0.19

 
$
0.29

 
$
0.52

 
$
(0.03
)
 
$
0.49

 
$
(1.90
)
 
$
(0.23
)
 
$
(2.13
)
Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
1.99

 
$
0.12

 
$
2.11

 
$
0.06

 
$
0.19

 
$
0.25

 
$
0.52

 
$
(0.03
)
 
$
0.49

 
$
(1.94
)
 
$
(0.23
)
 
$
(2.17
)
Diluted earnings per common share (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common shareholders
 
$
1.59

 
$
0.12

 
$
1.71

 
$
1.29

 
$
0.19

 
$
1.48

 
$
0.92

 
$
(0.05
)
 
$
0.87

 
$
(0.77
)
 
$
(0.15
)
 
$
(0.92
)
Income (loss) from discontinued operations, net of income tax, attributable to MetLife, Inc.
 
$
0.39

 
$

 
$
0.39

 
$
(1.23
)
 
$

 
$
(1.23
)
 
$
(0.41
)
 
$
0.02

 
$
(0.39
)
 
$
(1.17
)
 
$
(0.08
)
 
$
(1.25
)
Net income (loss) attributable to MetLife, Inc.
 
$
1.99

 
$
0.11

 
$
2.10

 
$
0.10

 
$
0.19

 
$
0.29

 
$
0.52

 
$
(0.03
)
 
$
0.49

 
$
(1.90
)
 
$
(0.23
)
 
$
(2.13
)
Net income (loss) available to MetLife, Inc.’s common shareholders
 
$
1.98

 
$
0.12

 
$
2.10

 
$
0.06

 
$
0.19

 
$
0.25

 
$
0.51

 
$
(0.03
)
 
$
0.48

 
$
(1.94
)
 
$
(0.23
)
 
$
(2.17
)
__________________
(1)
Results of operations were revised to reflect Brighthouse as discontinued operations. See Note 3.
(2)
See Note 1 information on prior period revisions.
(3)
For the three months ended December 31, 2016, 9.2 million shares related to the assumed exercise or issuance of stock-based awards have been excluded from the weighted average common shares outstanding - diluted, as to include these assumed shares would be anti-dilutive to net income (loss) available to common shareholders per common share - diluted.