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Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows at both September 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 September 30,
Nine Months Ended September 30,
2024202320242023
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In millions, except per share data)
A$0.417 $10 $0.419 $9 $1.267 $30 $1.155 $27 
D$29.375 14 $29.375 14 $58.750 29 $58.750 29 
E$351.563 11 $351.563 12 $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 $38.500 39 
Total$67 $67 $168 $165 
Class of Treasury Stock
MetLife, Inc. announced that its Board of Directors authorized common stock repurchases as follows:
Announcement DateAuthorization Amount
Authorization Remaining at
September 30, 2024 (1)
(In millions)
May 1, 2024$3,000 $2,301 
May 25, 2023$1,000 $— 
May 3, 2023$3,000 $— 
May 4, 2022$3,000 $— 
__________________
(1)The Inflation Reduction Act, signed into law on August 16, 2022, imposes a one percent excise tax, net of any allowable offsets, on certain corporate stock buybacks made after December 31, 2022. The authorization remaining at September 30, 2024 does not reflect the applicable excise tax payable.
Components of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI attributable to MetLife, Inc. was as follows:
Three Months
Ended
September 30, 2024
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument-
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(19,187)$99 $6,606 $(73)$(6,785)$(1,396)$(20,736)
OCI before reclassifications9,942 125 (5,891)99 349 3 4,627 
Deferred income tax benefit (expense)(2,082)(101)1,289 (22)90 (1)(827)
AOCI before reclassifications, net of income tax(11,327)123 2,004 4 (6,346)(1,394)(16,936)
Amounts reclassified from AOCI121 (607)— — — 32 (454)
Deferred income tax benefit (expense)(33)192 — — — (9)150 
Amounts reclassified from AOCI, net of income tax88 (415)— — — 23 (304)
Balance, end of period$(11,239)$(292)$2,004 $4 $(6,346)$(1,371)$(17,240)
Three Months
Ended
September 30, 2023
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument-
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(17,979)$1,179 $3,919 $108 $(6,282)$(1,331)$(20,386)
OCI before reclassifications(12,599)(1,004)8,223 (142)(348)(1)(5,871)
Deferred income tax benefit (expense)2,871 232 (1,897)30 (9)— 1,227 
AOCI before reclassifications, net of income tax(27,707)407 10,245 (4)(6,639)(1,332)(25,030)
Amounts reclassified from AOCI710 271 — — — 30 1,011 
Deferred income tax benefit (expense)(172)(57)— — — (6)(235)
Amounts reclassified from AOCI, net of income tax538 214 — — — 24 776 
Balance, end of period$(27,169)$621 $10,245 $(4)$(6,639)$(1,308)$(24,254)
Nine Months
Ended
September 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)$(19,242)
OCI before reclassifications3,450 (376)(807)(28)(136)(1)2,102 
Deferred income tax benefit (expense)(573)103 153 5 (52)— (364)
AOCI before reclassifications, net of income tax(11,629)(90)2,004 4 (6,346)(1,447)(17,504)
Amounts reclassified from AOCI514 (247)— — — 96 363 
Deferred income tax benefit (expense)(124)45 — — — (20)(99)
Amounts reclassified from AOCI, net of income tax 390 (202)— — — 76 264 
Balance, end of period$(11,239)$(292)$2,004 $4 $(6,346)$(1,371)$(17,240)
Nine Months
Ended
September 30, 2023
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)		Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument-
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(22,646)$1,557 $6,115 $107 $(6,377)$(1,377)$(22,621)
OCI before reclassifications(8,189)(1,085)5,325 (141)(168)(6)(4,264)
Deferred income tax benefit (expense)1,882 249 (1,195)30 (94)1 873 
AOCI before reclassifications, net of income tax(28,953)721 10,245 (4)(6,639)(1,382)(26,012)
Amounts reclassified from AOCI2,316 (130)— — — 90 2,276 
Deferred income tax benefit (expense)(532)30 — — — (16)(518)
Amounts reclassified from AOCI, net of income tax1,784 (100)— — — 74 1,758 
Balance, end of period$(27,169)$621 $10,245 $(4)$(6,639)$(1,308)$(24,254)
__________________
(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
September 30,		Nine Months
Ended
September 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)
$(122)$(730)$(531)$(2,420)Net investment gains (losses)
Net unrealized investment gains (losses)
— 1 — 6 Net investment income
Net unrealized investment gains (losses)
1 19 17 98 Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
(121)(710)(514)(2,316)
Income tax (expense) benefit
33 172 124 532 
Net unrealized investment gains (losses), net of income tax
(88)(538)(390)(1,784)
Deferred gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
5 11 18 38 Net investment income
Interest rate derivatives
(1)17 (2)77 Net investment gains (losses)
Foreign currency exchange rate derivatives
1 1 4 3 Net investment income
Foreign currency exchange rate derivatives
602 (301)226 10 Net investment gains (losses)
Foreign currency exchange rate derivatives— 1 — 2 Other expenses
Credit derivatives— — 1 — Net investment gains (losses)
Gains (losses) on cash flow hedges, before income tax
607 (271)247 130 
Income tax (expense) benefit
(192)57 (45)(30)
Gains (losses) on cash flow hedges, net of income tax
415 (214)202 100 
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(35)(33)(104)(98)
Amortization of prior service (costs) credit
3 3 8 8 
Amortization of defined benefit plan items, before income tax
(32)(30)(96)(90)
Income tax (expense) benefit
9 6 20 16 
Amortization of defined benefit plan items, net of income tax
(23)(24)(76)(74)
Total reclassifications, net of income tax
$304 $(776)$(264)$(1,758)
__________________
(1)These AOCI components are included in the computation of net periodic benefit costs. See Note 16.