Equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of Stock by Class

Preferred stock authorized, issued and outstanding was as follows:

	March 31, 2020			December 31, 2019
Series	Shares Authorized	Shares Issued	Shares Outstanding	Shares Authorized	Shares Issued	Shares Outstanding
Floating Rate Non-Cumulative Preferred Stock, Series A	27,600,000	24,000,000	24,000,000	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	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	500,000	500,000	500,000
5.625% Non-Cumulative Preferred Stock, Series E	32,200	32,200	32,200	32,200	32,200	32,200
4.75% Non-Cumulative Preferred Stock, Series F	40,000	40,000	40,000	—	—	—
Series A Junior Participating Preferred Stock	10,000,000	—	—	10,000,000	—	—
Not designated	160,327,800	—	—	160,367,800	—	—
Total	200,000,000	26,072,200	26,072,200	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		March 31, 2020
	(In millions)
July 31, 2019	$	2,000	$	485
November 1, 2018	$	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 March 31, 2020
	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	$	18,283		$	1,698		$	(4,927	)	$	(2,002	)	$	13,052
OCI before reclassifications	(3,619		)	3,687			(674		)	—			(606		)
Deferred income tax benefit (expense)	927			(810		)	(26		)	—			91
AOCI before reclassifications, net of income tax	15,591			4,575			(5,627		)	(2,002		)	12,537
Amounts reclassified from AOCI	(187		)	438			—			21			272
Deferred income tax benefit (expense)	48			(96		)	—			(4		)	(52		)
Amounts reclassified from AOCI, net of income tax	(139		)	342			—			17			220
Balance, end of period	$	15,452		$	4,917		$	(5,627	)	$	(1,985	)	$	12,757
	Three Months Ended March 31, 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	6,721			(11		)	(36		)	1			6,675
Deferred income tax benefit (expense)	(1,516		)	6			(6		)	—			(1,516		)
AOCI before reclassifications, net of income tax	12,247			1,608			(4,947		)	(2,027		)	6,881
Amounts reclassified from AOCI	(2		)	(24		)	—			29			3
Deferred income tax benefit (expense)	—			12			—			(6		)	6
Amounts reclassified from AOCI, net of income tax	(2		)	(12		)	—			23			9
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	$	12,248		$	1,614		$	(4,947	)	$	(2,004	)	$	6,911

__________________

(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 of the Notes to the Consolidated Financial Statements included in the 2019 Annual Report for further information on adoption of new accounting pronouncements.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Information regarding amounts reclassified out of each component of AOCI was as follows:

	Three Months Ended March 31,
	2020			2019
AOCI Components	Amounts Reclassified from AOCI						Consolidated Statements of Operations and Comprehensive Income (Loss) Locations
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	204		$	(24	)	Net investment gains (losses)
Net unrealized investment gains (losses)	(11		)	4			Net investment income
Net unrealized investment gains (losses)	(6		)	22			Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	187			2
Income tax (expense) benefit	(48		)	—
Net unrealized investment gains (losses), net of income tax	139			2
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives	6			5			Net investment income
Interest rate derivatives	6			(6		)	Net investment gains (losses)
Interest rate derivatives	1			1			Other expenses
Foreign currency exchange rate derivatives	—			(2		)	Net investment income
Foreign currency exchange rate derivatives	(451		)	25			Net investment gains (losses)
Credit derivatives	—			1			Net investment gains (losses)
Gains (losses) on cash flow hedges, before income tax	(438		)	24
Income tax (expense) benefit	96			(12		)
Gains (losses) on cash flow hedges, net of income tax	(342		)	12
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)	(26		)	(36		)
Amortization of prior service (costs) credit	5			7
Amortization of defined benefit plan items, before income tax	(21		)	(29		)
Income tax (expense) benefit	4			6
Amortization of defined benefit plan items, net of income tax	(17		)	(23		)
Total reclassifications, net of income tax	$	(220	)	$	(9	)

__________________

(1)

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

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 three months ended March 31, 2020 and 2019:

Declaration Date	Record Date	Payment Date	Preferred Stock Dividend
			Series A				Series C				Series D				Series E				Series F
			Per  Share		Aggregate		Per Share		Aggregate		Per Share		Aggregate		Per Share		Aggregate		Per Share		Aggregate
			(In millions, except per share data)
March 5, 2020	March 1, 2020	March 16, 2020	$	0.253	$	6	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
February 18, 2020	February 29, 2020	March 16, 2020	—		—		—		—		29.375		15		351.563		11		—		—
Total			$	0.253	$	6	$	—	$	—	$	29.375	$	15	$	351.563	$	11	$	—	$	—
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			$	0.250	$	6	$	—	$	—	$	29.375	$	15	$	351.563	$	11	$	—	$	—

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 three months ended March 31, 2020 and 2019:

Declaration Date	Record Date	Payment Date	Common Stock Dividend
			Per Share		Aggregate
			(In millions, except per share data)
January 7, 2020	February 4, 2020	March 13, 2020	$	0.440	404
January 7, 2019	February 5, 2019	March 13, 2019	$	0.420	405