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Equity (Tables)
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows:
September 30, 2021December 31, 2020
SeriesShares
Authorized
Shares Issued and OutstandingShares
Authorized
Shares Issued and Outstanding
Floating Rate Non-Cumulative Preferred Stock, Series A27,600,000 24,000,000 27,600,000 24,000,000 
5.25% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (1)— — 1,500,000 500,000 
5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series D500,000 500,000 500,000 500,000 
5.625% Non-Cumulative Preferred Stock, Series E32,200 32,200 32,200 32,200 
4.75% Non-Cumulative Preferred Stock, Series F40,000 40,000 40,000 40,000 
3.85% Fixed Rate Reset Non-Cumulative Preferred Stock, Series G1,000,000 1,000,000 1,000,000 1,000,000 
Series A Junior Participating Preferred Stock10,000,000 — 10,000,000 — 
Not designated160,827,800 — 159,327,800 — 
Total200,000,000 25,572,200 200,000,000 26,072,200 
__________________
(1)On May 17, 2021, the outstanding 500,000 shares of MetLife, Inc.’s 5.25% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (the “Series C preferred stock”) were irrevocably called for redemption, and on June 15, 2021, MetLife, Inc. redeemed and canceled the shares.
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 DateAuthorization AmountSeptember 30, 2021
(In millions)
August 4, 2021$3,000 $2,708 
December 11, 2020$3,000 $— 
July 31, 2019$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, 2021
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
$17,535 $1,073 $(4,463)$(1,836)$12,309 
Other comprehensive income (loss) before reclassifications(633)442 (421)(607)
Deferred income tax benefit (expense)
208 (102)(4)(1)101 
AOCI before reclassifications, net of income tax
17,110 1,413 (4,888)(1,832)11,803 
Amounts reclassified from AOCI
(91)236 — 30 175 
Deferred income tax benefit (expense)
22 (54)— (3)(35)
Amounts reclassified from AOCI, net of income tax
(69)182 — 27 140 
Sale of subsidiary, net of income tax (2)22 — 146 — 168 
Balance, end of period
$17,063 $1,595 $(4,742)$(1,805)$12,111 
Three Months
Ended
September 30, 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
$21,759 $4,154 $(5,382)$(1,968)$18,563 
Other comprehensive income (loss) before reclassifications(2,212)(846)507 (3)(2,554)
Deferred income tax benefit (expense)
190 207 (4)394 
AOCI before reclassifications, net of income tax
19,737 3,515 (4,879)(1,970)16,403 
Amounts reclassified from AOCI
(64)(457)— 21 (500)
Deferred income tax benefit (expense)
41 97 — (5)133 
Amounts reclassified from AOCI, net of income tax
(23)(360)— 16 (367)
Balance, end of period
$19,714 $3,155 $(4,879)$(1,954)$16,036 
Nine Months
Ended
September 30, 2021
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
$22,217 $1,513 $(3,795)$(1,863)$18,072 
Other comprehensive income (loss) before reclassifications(6,512)(172)(1,168)(7,843)
Deferred income tax benefit (expense)
1,584 39 (40)(2)1,581 
AOCI before reclassifications, net of income tax
17,289 1,380 (5,003)(1,856)11,810 
Amounts reclassified from AOCI
(76)279 — 61 264 
Deferred income tax benefit (expense)
18 (64)— (10)(56)
Amounts reclassified from AOCI, net of income tax
(58)215 — 51 208 
Sale of subsidiaries, net of income tax (3)(168)— 261 — 93 
Balance, end of period
$17,063 $1,595 $(4,742)$(1,805)$12,111 
Nine Months
Ended
September 30, 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 
Other comprehensive income (loss) before reclassifications2,674 2,202 76 (3)4,949 
Deferred income tax benefit (expense)
(785)(461)(28)(1,273)
AOCI before reclassifications, net of income tax
20,172 3,439 (4,879)(2,004)16,728 
Amounts reclassified from AOCI
(297)(359)— 64 (592)
Deferred income tax benefit (expense)
87 75 — (14)148 
Amounts reclassified from AOCI, net of income tax
(210)(284)— 50 (444)
Sale of subsidiary, net of income tax(248)— — — (248)
Balance, end of period
$19,714 $3,155 $(4,879)$(1,954)$16,036 
__________________
(1)See Note 6 for information on offsets to investments related to policyholder liabilities, DAC, VOBA and DSI.
(2)See Note 3 for information on the sale of MetLife Seguros.
(3)See Note 3 for information on the Company’s business dispositions.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Information regarding amounts reclassified out of each component of AOCI was as follows:
Three Months
 Ended
 September 30,
Nine Months
Ended
September 30,
2021202020212020
AOCI ComponentsAmounts Reclassified from AOCIConsolidated Statements of
Operations and
Comprehensive Income (Loss)
Locations
(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)
$97 $65 $42 $320 Net investment gains (losses)
Net unrealized investment gains (losses)
(4)(8)(13)(18)Net investment income
Net unrealized investment gains (losses)
(2)47 (5)Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
91 64 76 297 
Income tax (expense) benefit
(22)(41)(18)(87)
Net unrealized investment gains (losses), net of income tax
69 23 58 210 
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
14 41 24 Net investment income
Interest rate derivatives
10 54 58 Net investment gains (losses)
Interest rate derivatives
Other expenses
Foreign currency exchange rate derivatives
Net investment income
Foreign currency exchange rate derivatives
(259)435 (383)271 Net investment gains (losses)
Foreign currency exchange rate derivatives— — Other expenses
Gains (losses) on cash flow hedges, before income tax
(236)457 (279)359 
Income tax (expense) benefit
54 (97)64 (75)
Gains (losses) on cash flow hedges, net of income tax
(182)360 (215)284 
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(34)(26)(87)(78)
Amortization of prior service (costs) credit
26 14 
Amortization of defined benefit plan items, before income tax
(30)(21)(61)(64)
Income tax (expense) benefit
10 14 
Amortization of defined benefit plan items, net of income tax
(27)(16)(51)(50)
Total reclassifications, net of income tax
$(140)$367 $(208)$444 
__________________
(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 per share and aggregate dividends declared for MetLife, Inc.’s preferred stock were as follows:
Three Month Ended September 30,Nine Months Ended September 30,
2021202020212020
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In million, except per share data)
A$0.256 $$0.256 $$0.762 $18 $0.762 $18 
C$— — $9.940 15 $19.085 10 $36.190 54 
D$29.375 14 $29.375 15 $58.750 29 $58.750 30 
E$351.563 11 $351.563 11 $1,054.689 34 $1,054.689 34 
F$296.875 12 $296.875 12 $890.625 36 $791.667 32 
G$19.250 20 $— — $39.035 39 $— — 
Total$63 $59 $166 $168