v3.26.1
Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows at both June 30, 2026 and December 31, 2025:
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 
Series A Junior Participating Preferred Stock10,000,000 — 
Not designated161,827,800 — 
Total200,000,000 24,572,200 
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,
2026202520262025
SeriesPer ShareAggregatePer ShareAggregatePer ShareAggregatePer ShareAggregate
(In millions, except per share data)(In millions, except per share data)
A$0.312 $7 $0.351 $8 $0.627 $14 $0.706 $17 
D$— — $— — $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 (1)
$— — $— — $— — $19.250 19 
Total$31 $31 $76 $97 
__________________
(1)Dividends were paid through the dividend payment date of September 15, 2025, when all outstanding shares of MetLife, Inc.’s 3.850% Fixed Rate Reset Non-Cumulative Preferred Stock, Series G, were redeemed.
Class of Treasury Stock
MetLife, Inc. announced that its Board of Directors authorized common stock repurchases as follows:
Announcement DateAuthorization AmountAuthorization Remaining at
June 30, 2026 (1)
(In millions)
April 30, 2025$3,000 $622 
May 1, 2024$3,000 $— 
__________________
(1)The Inflation Reduction Act, signed into law on August 16, 2022, imposes a one percent excise tax, net of any allowable offsets, on certain corporate stock buybacks made after December 31, 2022. The authorization remaining at June 30, 2026 does not reflect the applicable excise tax payable.
Components of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI attributable to MetLife, Inc. was as follows:
Three Months
Ended
June 30, 2026
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
Deferred
Gains (Losses)
on Derivatives
FPBs Discount
Rate
Remeasurement
Gains (Losses)
MRBs
Instrument-
Specific Credit
Risk
Remeasurement
Gains (Losses)
Foreign
Currency
Translation
Adjustments		Defined
Benefit
Plans
Adjustment		Total
(In millions)
Balance, beginning of period$(19,380)$(1,015)$9,001 $(56)$(6,403)$(1,374)$(19,227)
OCI before reclassifications626 (518)281 (30)37 (1)395 
Deferred income tax benefit (expense)(48)109 (218)6 (2)— (153)
AOCI before reclassifications, net of income tax(18,802)(1,424)9,064 (80)(6,368)(1,375)(18,985)
Amounts reclassified from AOCI161 131 — — — 22 314 
Deferred income tax benefit (expense)(36)(32)— — — (4)(72)
Amounts reclassified from AOCI, net of income tax125 99 — — — 18 242 
Balance, end of period$(18,677)$(1,325)$9,064 $(80)$(6,368)$(1,357)$(18,743)
Three Months
Ended
June 30, 2025
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$(17,329)$179 $5,334 $(31)$(6,985)$(1,416)$(20,248)
OCI before reclassifications908 (1,028)884 (42)640 (9)1,353 
Deferred income tax benefit (expense)(142)256 (342)9 31 2 (186)
AOCI before reclassifications, net of income tax(16,563)(593)5,876 (64)(6,314)(1,423)(19,081)
Amounts reclassified from AOCI100 (1,102)— — — 22 (980)
Deferred income tax benefit (expense)(21)229 — — — (6)202 
Amounts reclassified from AOCI, net of income tax79 (873)— — — 16 (778)
Balance, end of period$(16,484)$(1,466)$5,876 $(64)$(6,314)$(1,407)$(19,859)
Six Months
Ended
June 30, 2026
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$(15,614)$(1,588)$6,871 $(97)$(6,263)$(1,393)$(18,084)
OCI before reclassifications(4,472)(19)3,003 22 (80)(1)(1,547)
Deferred income tax benefit (expense)1,116 (10)(810)(5)(25)— 266 
AOCI before reclassifications, net of income tax(18,970)(1,617)9,064 (80)(6,368)(1,394)(19,365)
Amounts reclassified from AOCI387 377 — — — 46 810 
Deferred income tax benefit (expense)(94)(85)— — — (9)(188)
Amounts reclassified from AOCI, net of income tax 293 292 — — — 37 622 
Balance, end of period$(18,677)$(1,325)$9,064 $(80)$(6,368)$(1,357)$(18,743)
Six Months
Ended
June 30, 2025
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 at December 31, 2024
$(19,402)$370 $6,529 $(71)$(7,170)$(1,442)$(21,186)
Cumulative effects of change in accounting principles for equity method investees at January 1, 2025
70 — (1,144)— — — (1,074)
OCI before reclassifications3,112 (811)932 9 780 (7)4,015 
Deferred income tax benefit (expense)(530)151 (441)(2)76 2 (744)
AOCI before reclassifications, net of income tax(16,750)(290)5,876 (64)(6,314)(1,447)(18,989)
Amounts reclassified from AOCI341 (1,481)— — — 53 (1,087)
Deferred income tax benefit (expense)(75)305 — — — (13)217 
Amounts reclassified from AOCI, net of income tax266 (1,176)— — — 40 (870)
Balance, end of period$(16,484)$(1,466)$5,876 $(64)$(6,314)$(1,407)$(19,859)
__________________
(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,
2026202520262025
AOCI ComponentsAmounts Reclassified from AOCIConsolidated Statements of
Operations and
Comprehensive Income (Loss)
Locations
(In millions)
Unrealized investment gains (losses):
Unrealized investment gains (losses)$(223)$(97)$(443)$(382)Net investment gains (losses)
Unrealized investment gains (losses)— (8)(1)(8)Net investment income
Unrealized investment gains (losses)62 5 57 49 Net derivative gains (losses)
Unrealized investment gains (losses), before income tax(161)(100)(387)(341)
Income tax (expense) benefit
36 21 94 75 
Unrealized investment gains (losses), net of income tax(125)(79)(293)(266)
Deferred gains (losses) on derivatives - cash flow hedges:
Interest rate derivatives
1 6 2 23 Net investment income
Interest rate derivatives
(16)9 (15)9 Net investment gains (losses)
Foreign currency exchange rate derivatives
— 1 1 3 Net investment income
Foreign currency exchange rate derivatives
(116)1,086 (365)1,446 Net investment gains (losses)
Gains (losses) on cash flow hedges, before income tax
(131)1,102 (377)1,481 
Income tax (expense) benefit
32 (229)85 (305)
Gains (losses) on cash flow hedges, net of income tax
(99)873 (292)1,176 
Defined benefit plans adjustment: (1)
Amortization of net actuarial gains (losses)
(24)(25)(51)(59)
Amortization of prior service (costs) credit
2 3 5 6 
Amortization of defined benefit plan items, before income tax
(22)(22)(46)(53)
Income tax (expense) benefit
4 6 9 13 
Amortization of defined benefit plan items, net of income tax
(18)(16)(37)(40)
Total reclassifications, net of income tax
$(242)$778 $(622)$870 
__________________
(1)These AOCI components are included in the computation of net periodic benefit costs. See Note 15.