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Equity (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Schedule of Stock by Class
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 
Dividends Declared [Table Text Block]
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 $$0.256 $$0.506 $12 $0.506 $12 
C (1)$— — $9.606 $— — $19.085 10 
D$— — $— — $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 
__________________
(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.
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 AmountJune 30, 2022
(In millions)
May 4, 2022$3,000 $2,475 
August 4, 2021$3,000 $— 
December 11, 2020$3,000 $— 
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
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)(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 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)
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)(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)(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.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
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)
(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 
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
— Other expenses
Foreign currency exchange rate derivatives
Net investment income
Foreign currency exchange rate derivatives
(690)95 (838)(124)Net investment gains (losses)
Foreign currency exchange rate derivativesOther 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
18 22 
Amortization of defined benefit plan items, before income tax
(23)(17)(47)(31)
Income tax (expense) benefit
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.