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Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows at both June 30, 2024 and December 31, 2023:
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
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,
2024202320242023
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In millions, except per share data)
A$0.430 $10 $0.375 $9 $0.850 $20 $0.736 $18 
D$— — $— — $29.375 15 $29.375 15 
E$351.563 12 $351.563 11 $703.126 23 $703.126 22 
F$296.875 12 $296.875 12 $593.750 24 $593.750 24 
G$— — $— — $19.250 19 $19.250 19 
Total$34 $32 $101 $98 
Class of Treasury Stock
MetLife, Inc. announced that its Board of Directors authorized common stock repurchases as follows:
Announcement DateAuthorization Amount
Authorization Remaining at
June 30, 2024 (1)
(In millions)
May 1, 2024$3,000 $3,000 
May 25, 2023$1,000 $75 
May 3, 2023$3,000 $— 
May 4, 2022$3,000 $— 
__________________
(1)The Inflation Reduction Act, signed into law on August 16, 2022, imposes a one percent excise tax, net of any allowable offsets, on certain corporate stock buybacks made after December 31, 2022. The authorization remaining at June 30, 2024 does not reflect the applicable excise tax payable.
Components of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI attributable to MetLife, Inc. was as follows:
Three Months
Ended
June 30, 2024
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(16,813)$202 $4,773 $(47)$(6,465)$(1,421)$(19,771)
OCI before reclassifications(3,373)(160)2,373 (33)(268)(2)(1,463)
Deferred income tax benefit (expense)810 128 (540)7 (52)1 354 
AOCI before reclassifications, net of income tax(19,376)170 6,606 (73)(6,785)(1,422)(20,880)
Amounts reclassified from AOCI248 3 — — — 32 283 
Deferred income tax benefit (expense)(59)(74)— — — (6)(139)
Amounts reclassified from AOCI, net of income tax189 (71)— — — 26 144 
Balance, end of period$(19,187)$99 $6,606 $(73)$(6,785)$(1,396)$(20,736)
Three Months
Ended
June 30, 2023
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(16,354)$1,748 $2,748 $186 $(6,119)$(1,356)$(19,147)
OCI before reclassifications(3,173)(468)1,471 (99)(102)(1)(2,372)
Deferred income tax benefit (expense)739 114 (300)21 (61)— 513 
AOCI before reclassifications, net of income tax(18,788)1,394 3,919 108 (6,282)(1,357)(21,006)
Amounts reclassified from AOCI1,040 (269)— — — 30 801 
Deferred income tax benefit (expense)(231)54 — — — (4)(181)
Amounts reclassified from AOCI, net of income tax809 (215)— — — 26 620 
Balance, end of period$(17,979)$1,179 $3,919 $108 $(6,282)$(1,331)$(20,386)
Six Months
Ended
June 30, 2024
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)		Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(14,506)$183 $2,658 $27 $(6,158)$(1,446)$(19,242)
OCI before reclassifications(6,492)(501)5,084 (127)(485)(4)(2,525)
Deferred income tax benefit (expense)1,509 204 (1,136)27 (142)1 463 
AOCI before reclassifications, net of income tax(19,489)(114)6,606 (73)(6,785)(1,449)(21,304)
Amounts reclassified from AOCI393 360 — — — 64 817 
Deferred income tax benefit (expense)(91)(147)— — — (11)(249)
Amounts reclassified from AOCI, net of income tax 302 213 — — — 53 568 
Balance, end of period$(19,187)$99 $6,606 $(73)$(6,785)$(1,396)$(20,736)
Six Months
Ended
June 30, 2023
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)		Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(22,646)$1,557 $6,115 $107 $(6,377)$(1,377)$(22,621)
OCI before reclassifications4,410 (81)(2,898)1 180 (5)1,607 
Deferred income tax benefit (expense)(989)17 702 — (85)1 (354)
AOCI before reclassifications, net of income tax(19,225)1,493 3,919 108 (6,282)(1,381)(21,368)
Amounts reclassified from AOCI1,606 (401)— — — 60 1,265 
Deferred income tax benefit (expense)(360)87 — — — (10)(283)
Amounts reclassified from AOCI, net of income tax1,246 (314)— — — 50 982 
Balance, end of period$(17,979)$1,179 $3,919 $108 $(6,282)$(1,331)$(20,386)
__________________
(1)Primarily unrealized gains (losses) on fixed maturity securities.
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,
2024202320242023
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)
$(250)$(1,079)$(409)$(1,690)Net investment gains (losses)
Net unrealized investment gains (losses)
1 3 — 5 Net investment income
Net unrealized investment gains (losses)
1 36 16 79 Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
(248)(1,040)(393)(1,606)
Income tax (expense) benefit
59 231 91 360 
Net unrealized investment gains (losses), net of income tax
(189)(809)(302)(1,246)
Deferred gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
5 13 13 27 Net investment income
Interest rate derivatives
(3)55 (1)60 Net investment gains (losses)
Foreign currency exchange rate derivatives
2 1 3 2 Net investment income
Foreign currency exchange rate derivatives
(8)200 (376)311 Net investment gains (losses)
Foreign currency exchange rate derivatives— — — 1 Other expenses
Credit derivatives1 — 1 — Net investment gains (losses)
Gains (losses) on cash flow hedges, before income tax
(3)269 (360)401 
Income tax (expense) benefit
74 (54)147 (87)
Gains (losses) on cash flow hedges, net of income tax
71 215 (213)314 
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(34)(32)(69)(65)
Amortization of prior service (costs) credit
2 2 5 5 
Amortization of defined benefit plan items, before income tax
(32)(30)(64)(60)
Income tax (expense) benefit
6 4 11 10 
Amortization of defined benefit plan items, net of income tax
(26)(26)(53)(50)
Total reclassifications, net of income tax
$(144)$(620)$(568)$(982)
__________________
(1)These AOCI components are included in the computation of net periodic benefit costs. See Note 16.