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Equity (Tables)
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Schedule of Stock by Class
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 
Dividends Declared [Table Text Block]
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 $$0.256 $$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 
__________________
(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 AmountSeptember 30, 2022
(In millions)
May 4, 2022$3,000 $1,802 
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
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)(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)(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)(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)(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 
__________________
(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
 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)(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)44 54 Net investment gains (losses)
Interest rate derivatives
Other expenses
Foreign currency exchange rate derivatives
Net investment income
Foreign currency exchange rate derivatives
(567)(259)(1,405)(383)Net investment gains (losses)
Foreign currency exchange rate derivatives— — 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
26 
Amortization of defined benefit plan items, before income tax
(23)(30)(70)(61)
Income tax (expense) benefit
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.