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Equity
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Equity 9. Equity
Preferred Stock
Preferred stock authorized, issued and outstanding was as follows at both June 30, 2022 and December 31, 2021:
SeriesShares
Authorized		Shares Issued and
Outstanding
Floating Rate Non-Cumulative Preferred Stock, Series A27,600,000 24,000,000 
5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series D500,000 500,000 
5.625% Non-Cumulative Preferred Stock, Series E32,200 32,200 
4.75% Non-Cumulative Preferred Stock, Series F40,000 40,000 
3.85% Fixed Rate Reset Non-Cumulative Preferred Stock, Series G1,000,000 1,000,000 
Series A Junior Participating Preferred Stock10,000,000 — 
Not designated160,827,800 — 
Total200,000,000 25,572,200 
The per share and aggregate dividends declared for MetLife, Inc.’s preferred stock were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In millions, except per share data)
A$0.256 $6 $0.256 $6 $0.506 $12 $0.506 $12 
C (1)$— — $9.606 5 $— — $19.085 10 
D$— — $— — $29.375 15 $29.375 15 
E$351.563 11 $351.563 12 $703.126 22 $703.126 23 
F$296.875 12 $296.875 12 $593.750 24 $593.750 24 
G$— — $— — $19.250 19 $19.785 19 
Total$29 $35 $92 $103 
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(1)Dividends were paid through the dividend payment date of June 15, 2021, when all outstanding shares of MetLife, Inc.’s 5.25% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C were redeemed and eliminated. See Note 16 of the Notes to the Consolidated Financial Statements included in the 2021 Annual Report.
Common Stock
MetLife, Inc. announced that its Board of Directors authorized common stock repurchases as follows:
Authorization Remaining at
Announcement DateAuthorization AmountJune 30, 2022
(In millions)
May 4, 2022$3,000 $2,475 
August 4, 2021$3,000 $— 
December 11, 2020$3,000 $— 
Under these authorizations, MetLife, Inc. may purchase its common stock from the MetLife Policyholder Trust, in the open market (including pursuant to the terms of a pre-set trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934), and in privately negotiated transactions. Common stock repurchases are subject to the discretion of MetLife, Inc.’s Board of Directors and will depend upon the Company’s capital position, liquidity, financial strength and credit ratings, general market conditions, the market price of MetLife, Inc.’s common stock compared to management’s assessment of the stock’s underlying value, applicable regulatory approvals, and other legal and accounting factors.
For the six months ended June 30, 2022 and 2021, MetLife, Inc. repurchased 30,939,541 shares and 36,170,428 shares of its common stock, respectively, through open market purchases for $2.0 billion and $2.1 billion, respectively.
Stock-Based Compensation Plans
Performance Shares and Performance Units
Final Performance Shares are paid in shares of MetLife, Inc. common stock. Final Performance Units are payable in cash equal to the closing price of MetLife, Inc. common stock on a date following the last day of the three-year performance period. The performance factor for the January 1, 2019 – December 31, 2021 performance period was 141.3%, which was determined within a possible range from 0% to 175%. This factor has been applied to the 1,485,512 Performance Shares and 156,090 Performance Units associated with that performance period that vested on December 31, 2021. As a result, in the first quarter of 2022, MetLife, Inc. issued 2,099,028 shares of its common stock (less withholding for taxes and other items, as applicable), excluding shares that payees choose to defer, and MetLife, Inc. or its affiliates paid the cash value of 220,555 Performance Units (less withholding for taxes and other items, as applicable).
Dividend Restrictions
Insurance Operations
For the six months ended June 30, 2022, American Life Insurance Company paid a dividend of $620 million to MetLife, Inc., for which regulatory approval was obtained as required.
See Note 16 of the Notes to Consolidated Financial Statements included in the 2021 Annual Report for additional information on dividend restrictions.
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
June 30, 2022
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
$3,718 $1,464 $(5,517)$(1,577)$(1,912)
OCI before reclassifications(20,082)(154)(1,126)3 (21,359)
Deferred income tax benefit (expense)
4,512 40 (66)— 4,486 
AOCI before reclassifications, net of income tax
(11,852)1,350 (6,709)(1,574)(18,785)
Amounts reclassified from AOCI
682 629 — 23 1,334 
Deferred income tax benefit (expense)
(155)(132)— (4)(291)
Amounts reclassified from AOCI, net of income tax
527 497 — 19 1,043 
Sale of subsidiary, net of income tax (2)21 — 349 — 370 
Balance, end of period
$(11,304)$1,847 $(6,360)$(1,555)$(17,372)
Three Months
Ended
June 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
$16,194 $518 $(4,467)$(1,848)$10,397 
OCI before reclassifications2,099 828 6 1 2,934 
Deferred income tax benefit (expense)
(570)(169)(2)(1)(742)
AOCI before reclassifications, net of income tax
17,723 1,177 (4,463)(1,848)12,589 
Amounts reclassified from AOCI
(15)(131)— 17 (129)
Deferred income tax benefit (expense)
3 27 — (5)25 
Amounts reclassified from AOCI, net of income tax
(12)(104)— 12 (104)
Sale of subsidiary, net of income tax(176)— — — (176)
Balance, end of period
$17,535 $1,073 $(4,463)$(1,836)$12,309 
Six Months
Ended
June 30, 2022
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
$16,042 $1,629 $(5,154)$(1,598)$10,919 
OCI before reclassifications(36,455)(466)(1,508)6 (38,423)
Deferred income tax benefit (expense)
8,345 95 (85)(1)8,354 
AOCI before reclassifications, net of income tax
(12,068)1,258 (6,747)(1,593)(19,150)
Amounts reclassified from AOCI
1,003 741 — 47 1,791 
Deferred income tax benefit (expense)
(230)(152)— (7)(389)
Amounts reclassified from AOCI, net of income tax 773 589 — 40 1,402 
Sale of subsidiaries, net of income tax (2)(9)— 387 (2)376 
Balance, end of period
$(11,304)$1,847 $(6,360)$(1,555)$(17,372)
Six Months
Ended
June 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 
OCI before reclassifications(5,879)(614)(747)4 (7,236)
Deferred income tax benefit (expense)
1,376 141 (36)(1)1,480 
AOCI before reclassifications, net of income tax
17,714 1,040 (4,578)(1,860)12,316 
Amounts reclassified from AOCI
15 43 — 31 89 
Deferred income tax benefit (expense)
(4)(10)— (7)(21)
Amounts reclassified from AOCI, net of income tax
11 33 — 24 68 
Sale of subsidiaries, net of income tax(190)— 115 — (75)
Balance, end of period
$17,535 $1,073 $(4,463)$(1,836)$12,309 
__________________
(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 Company’s business dispositions.
Information regarding amounts reclassified out of each component of AOCI was as follows:
Three Months
 Ended
 June 30,		Six Months
Ended
June 30,
2022202120222021
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)
$(772)$(6)$(1,122)$(55)Net investment gains (losses)
Net unrealized investment gains (losses)
2 (4)4 (9)Net investment income
Net unrealized investment gains (losses)
88 25 115 49 Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
(682)15 (1,003)(15)
Income tax (expense) benefit
155 (3)230 4 
Net unrealized investment gains (losses), net of income tax
(527)12 (773)(11)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
16 15 31 27 Net investment income
Interest rate derivatives
42 19 60 48 Net investment gains (losses)
Interest rate derivatives
1 — 2 1 Other expenses
Foreign currency exchange rate derivatives
1 1 3 4 Net investment income
Foreign currency exchange rate derivatives
(690)95 (838)(124)Net investment gains (losses)
Foreign currency exchange rate derivatives1 1 1 1 Other expenses
Gains (losses) on cash flow hedges, before income tax
(629)131 (741)(43)
Income tax (expense) benefit
132 (27)152 10 
Gains (losses) on cash flow hedges, net of income tax
(497)104 (589)(33)
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(26)(35)(53)(53)
Amortization of prior service (costs) credit
3 18 6 22 
Amortization of defined benefit plan items, before income tax
(23)(17)(47)(31)
Income tax (expense) benefit
4 5 7 7 
Amortization of defined benefit plan items, net of income tax
(19)(12)(40)(24)
Total reclassifications, net of income tax
$(1,043)$104 $(1,402)$(68)
__________________
(1)These AOCI components are included in the computation of net periodic benefit costs. See Note 11.