Equity (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Schedule of Stock by Class

Preferred stock authorized, issued and outstanding was as follows at both September 30, 2019 and December 31, 2018:

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
5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series D	500,000	500,000	500,000
5.625% Non-Cumulative Preferred Stock, Series E	32,200	32,200	32,200
Series A Junior Participating Preferred Stock	10,000,000	—	—
Not designated	160,367,800	—	—
Total	200,000,000	26,032,200	26,032,200

Class of Stock [Line Items]

Class of Treasury Stock [Table Text Block]

MetLife, Inc. announced that its Board of Directors authorized common stock repurchases as follows:

			Authorization Remaining at
Announcement Date	Authorization Amount		September 30, 2019
	(In millions)
July 31, 2019	$	2,000	$	1,235
November 1, 2018	$	2,000	$	—
May 22, 2018	$	1,500	$	—
November 1, 2017	$	2,000	$	—

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:

	Three Months Ended September 30, 2019
	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	$	16,340		$	2,041		$	(4,766	)	$	(1,984	)	$	11,631
OCI before reclassifications	4,064			658			(404		)	—			4,318
Deferred income tax benefit (expense)	(829		)	(140		)	(2		)	—			(971		)
AOCI before reclassifications, net of income tax	19,575			2,559			(5,172		)	(1,984		)	14,978
Amounts reclassified from AOCI	(84		)	337			—			29			282
Deferred income tax benefit (expense)	18			(75		)	—			(6		)	(63		)
Amounts reclassified from AOCI, net of income tax	(66		)	262			—			23			219
Balance, end of period	$	19,509		$	2,821		$	(5,172	)	$	(1,961	)	$	15,197
	Three Months Ended September 30, 2018
	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	$	8,538		$	1,165		$	(4,670	)	$	(2,179	)	$	2,854
OCI before reclassifications	(1,953		)	(295		)	(240		)	131			(2,357		)
Deferred income tax benefit (expense)	436			(22		)	15			(27		)	402
AOCI before reclassifications, net of income tax	7,021			848			(4,895		)	(2,075		)	899
Amounts reclassified from AOCI	(30		)	4			—			31			5
Deferred income tax benefit (expense)	7			96			—			(7		)	96
Amounts reclassified from AOCI, net of income tax	(23		)	100			—			24			101
Balance, end of period	$	6,998		$	948		$	(4,895	)	$	(2,051	)	$	1,000

	Nine Months Ended September 30, 2019
	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	$	7,042		$	1,613		$	(4,905	)	$	(2,028	)	$	1,722
OCI before reclassifications	16,263			1,305			(266		)	(2		)	17,300
Deferred income tax benefit (expense)	(3,634		)	(287		)	(1		)	—			(3,922		)
AOCI before reclassifications, net of income tax	19,671			2,631			(5,172		)	(2,030		)	15,100
Amounts reclassified from AOCI	(213		)	221			—			88			96
Deferred income tax benefit (expense)	48			(49		)	—			(19		)	(20		)
Amounts reclassified from AOCI, net of income tax	(165		)	172			—			69			76
Cumulative effects of changes in accounting principles	4			22			—			—			26
Deferred income tax benefit (expense), cumulative effects of changes in accounting principles	(1		)	(4		)	—			—			(5		)
Cumulative effects of changes in accounting principles, net of income tax (2)	3			18			—			—			21
Balance, end of period	$	19,509		$	2,821		$	(5,172	)	$	(1,961	)	$	15,197
	Nine Months Ended September 30, 2018
	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	$	12,757		$	905		$	(4,390	)	$	(1,845	)	$	7,427
OCI before reclassifications	(8,860		)	(506		)	(657		)	130			(9,893		)
Deferred income tax benefit (expense)	1,977			77			24			(27		)	2,051
AOCI before reclassifications, net of income tax	5,874			476			(5,023		)	(1,742		)	(415		)
Amounts reclassified from AOCI	98			309			—			93			500
Deferred income tax benefit (expense)	(22		)	(47		)	—			(20		)	(89		)
Amounts reclassified from AOCI, net of income tax	76			262			—			73			411
Cumulative effects of changes in accounting principles	(425		)	—			—			—			(425		)
Deferred income tax benefit (expense), cumulative effects of changes in accounting principles	1,473			210			36			(382		)	1,337
Cumulative effects of changes in accounting principles, net of income tax (3)	1,048			210			36			(382		)	912
Sale of subsidiary (4)	—			—			92			—			92
Balance, end of period	$	6,998		$	948		$	(4,895	)	$	(2,051	)	$	1,000

__________________

(1) See Note 6 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI, and the policyholder dividend obligation.

(2) See Note 1 for further information on adoption of new accounting pronouncements.

(3) See Note 1 of the Notes to the Consolidated Financial Statements included in the 2018 Annual Report for further information on adoption of new accounting pronouncements.

(4)

See Note 3 of the Notes to the Consolidated Financial Statements included in the 2018 Annual Report.

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 Statements of Operations and Comprehensive Income (Loss) Locations
	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	84		$	101		$	200		$	(36	)	Net investment gains (losses)
Net unrealized investment gains (losses)	(12		)	9			(15		)	9			Net investment income
Net unrealized investment gains (losses)	12			(80		)	28			(71		)	Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	84			30			213			(98		)
Income tax (expense) benefit	(18		)	(7		)	(48		)	22
Net unrealized investment gains (losses), net of income tax	66			23			165			(76		)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives	5			5			16			15			Net investment income
Interest rate derivatives	1			—			(1		)	—			Net investment gains (losses)
Interest rate derivatives	—			(2		)	—			18			Net derivative gains (losses)
Interest rate derivatives	1			—			2			1			Other expenses
Foreign currency exchange rate derivatives	—			(1		)	(3		)	(2		)	Net investment income
Foreign currency exchange rate derivatives	(344		)	—			(236		)	—			Net investment gains (losses)
Foreign currency exchange rate derivatives	—			(6		)	—			(342		)	Net derivative gains (losses)
Foreign currency exchange rate derivatives	—			—			1			1			Other expenses
Gains (losses) on cash flow hedges, before income tax	(337		)	(4		)	(221		)	(309		)
Income tax (expense) benefit	75			(96		)	49			47
Gains (losses) on cash flow hedges, net of income tax	(262		)	(100		)	(172		)	(262		)
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)	(36		)	(37		)	(108		)	(108		)
Amortization of prior service (costs) credit	7			6			20			15
Amortization of defined benefit plan items, before income tax	(29		)	(31		)	(88		)	(93		)
Income tax (expense) benefit	6			7			19			20
Amortization of defined benefit plan items, net of income tax	(23		)	(24		)	(69		)	(73		)
Total reclassifications, net of income tax	$	(219	)	$	(101	)	$	(76	)	$	(411	)

__________________

(1)

These AOCI components are included in the computation of net periodic benefit costs. See Note 13.

Preferred Stock

Class of Stock [Line Items]

Dividends Declared [Table Text Block]

The declaration, record and payment dates, as well as per share and aggregate dividend amounts, for MetLife, Inc.’s preferred stock were as follows for the nine months ended September 30, 2019 and 2018:

Declaration Date	Record Date	Payment Date	Preferred Stock Dividend
			Series A				Series C				Series D				Series E
			Per  Share		Aggregate		Per Share		Aggregate		Per Share		Aggregate		Per Share		Aggregate
			(In millions, except per share data)
August 15, 2019	September 1, 2019	September 16, 2019	$	0.253	$	6	$	—	$	—	$	—	$	—	$	—	$	—
August 15, 2019	August 31, 2019	September 16, 2019	—		—		—		—		29.375		15		351.563		11
May 15, 2019	May 31, 2019	June 17, 2019	0.261		6		26.250		39		—		—		351.563		12
March 5, 2019	February 28, 2019	March 15, 2019	0.250		6		—		—		—		—		—		—
February 15, 2019	February 28, 2019	March 15, 2019	—		—		—		—		29.375		15		351.563		11
Total			$	0.764	$	18	$	26.250	$	39	$	58.750	$	30	$	1,054.689	$	34
August 15, 2018	August 31, 2018	September 17, 2018	$	0.256	$	6	$	—	$	—	$	28.233	$	14	$	394.531	$	12
May 15, 2018	May 31, 2018	June 15, 2018	0.256		7		26.250		39		—		—		—		—
March 5, 2018	February 28, 2018	March 15, 2018	0.250		6		—		—		—		—		—		—
Total			$	0.762	$	19	$	26.250	$	39	$	28.233	$	14	$	394.531	$	12

Common Stock

Class of Stock [Line Items]

Dividends Declared [Table Text Block]

The declaration, record and payment dates, as well as per share and aggregate dividend amounts, for MetLife, Inc.’s common stock were as follows for the nine months ended September 30, 2019 and 2018:

Declaration Date	Record Date	Payment Date	Common Stock Dividend
			Per Share		Aggregate
			(In millions, except per share data)
July 8, 2019	August 6, 2019	September 13, 2019	$	0.440	$	413
April 23, 2019	May 7, 2019	June 13, 2019	$	0.440	419
January 7, 2019	February 5, 2019	March 13, 2019	$	0.420	405
					$	1,237
July 6, 2018	August 6, 2018	September 13, 2018	$	0.420	$	419
April 24, 2018	May 7, 2018	June 13, 2018	$	0.420	428
January 5, 2018	February 5, 2018	March 13, 2018	$	0.400	416
					$	1,263