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Equity
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Equity 10. Equity
Preferred Stock
Preferred stock authorized, issued and outstanding was as follows at both September 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 September 30,Nine Months Ended September 30,
2022202120222021
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In millions, except per share data)
A$0.256 $6 $0.256 $6 $0.762 $18 $0.762 $18 
C (1)$— — $— — $— — $19.085 10 
D$29.375 14 $29.375 14 $58.750 29 $58.750 29 
E$351.563 12 $351.563 11 $1,054.689 34 $1,054.689 34 
F$296.875 12 $296.875 12 $890.625 36 $890.625 36 
G$19.250 20 $19.250 20 $38.500 39 $39.035 39 
Total$64 $63 $156 $166 
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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 AmountSeptember 30, 2022
(In millions)
May 4, 2022$3,000 $1,802 
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 nine months ended September 30, 2022 and 2021, MetLife, Inc. repurchased 41,267,149 shares and 52,857,261 shares of its common stock, respectively, through open market purchases for $2.7 billion and $3.1 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 nine months ended September 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
September 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
$(11,304)$1,847 $(6,360)$(1,555)$(17,372)
OCI before reclassifications(15,523)975 (768)1 (15,315)
Deferred income tax benefit (expense)
3,521 (211)(23)— 3,287 
AOCI before reclassifications, net of income tax
(23,306)2,611 (7,151)(1,554)(29,400)
Amounts reclassified from AOCI
343 566 — 23 932 
Deferred income tax benefit (expense)
(77)(145)— (5)(227)
Amounts reclassified from AOCI, net of income tax
266 421 — 18 705 
Balance, end of period
$(23,040)$3,032 $(7,151)$(1,536)$(28,695)
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 
OCI before reclassifications(633)442 (421)5 (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 tax22 — 146 — 168 
Balance, end of period
$17,063 $1,595 $(4,742)$(1,805)$12,111 
Nine Months
Ended
September 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(51,978)509 (2,276)7 (53,738)
Deferred income tax benefit (expense)
11,866 (116)(108)(1)11,641 
AOCI before reclassifications, net of income tax
(24,070)2,022 (7,538)(1,592)(31,178)
Amounts reclassified from AOCI
1,346 1,307 — 70 2,723 
Deferred income tax benefit (expense)
(307)(297)— (12)(616)
Amounts reclassified from AOCI, net of income tax 1,039 1,010 — 58 2,107 
Sale of subsidiaries, net of income tax (2)(9)— 387 (2)376 
Balance, end of period
$(23,040)$3,032 $(7,151)$(1,536)$(28,695)
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 
OCI before reclassifications(6,512)(172)(1,168)9 (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(168)— 261 — 93 
Balance, end of period
$17,063 $1,595 $(4,742)$(1,805)$12,111 
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(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
 September 30,		Nine Months
Ended
September 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)
$(336)$97 $(1,458)$42 Net investment gains (losses)
Net unrealized investment gains (losses)
— (4)4 (13)Net investment income
Net unrealized investment gains (losses)
(7)(2)108 47 Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
(343)91 (1,346)76 
Income tax (expense) benefit
77 (22)307 (18)
Net unrealized investment gains (losses), net of income tax
(266)69 (1,039)58 
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
15 14 46 41 Net investment income
Interest rate derivatives
(16)6 44 54 Net investment gains (losses)
Interest rate derivatives
1 1 3 2 Other expenses
Foreign currency exchange rate derivatives
1 2 4 6 Net investment income
Foreign currency exchange rate derivatives
(567)(259)(1,405)(383)Net investment gains (losses)
Foreign currency exchange rate derivatives— — 1 1 Other expenses
Gains (losses) on cash flow hedges, before income tax
(566)(236)(1,307)(279)
Income tax (expense) benefit
145 54 297 64 
Gains (losses) on cash flow hedges, net of income tax
(421)(182)(1,010)(215)
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(25)(34)(78)(87)
Amortization of prior service (costs) credit
2 4 8 26 
Amortization of defined benefit plan items, before income tax
(23)(30)(70)(61)
Income tax (expense) benefit
5 3 12 10 
Amortization of defined benefit plan items, net of income tax
(18)(27)(58)(51)
Total reclassifications, net of income tax
$(705)$(140)$(2,107)$(208)
__________________
(1)These AOCI components are included in the computation of net periodic benefit costs. See Note 12.