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Junior Subordinated Debt Securities (Tables) | 12 Months Ended
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Dec. 31, 2022
Junior Subordinated Notes [Abstract] |
Outstanding Junior Subordinated Debt Securities | Outstanding junior subordinated debt securities and exchangeable surplus trust securities which are exchangeable for junior subordinated debt securities prior to redemption or repayment, were as follows:
|  |  |  |  |  |  |  |  |  |  |  | December 31,
|  |  |  |  |  |  |  |  |  |  |  | 2022 |  | 2021
Issuer |  | Issue Date |  | Interest Rate (1) |  | Scheduled Redemption Date |  | Interest Rate Subsequent to Scheduled Redemption Date (2) |  | Final Maturity |  | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value |  | Face Value |  | Unamortized Discount and Issuance Costs |  | Carrying Value
|  |  |  |  |  |  |  |  |  |  |  | (In millions)
MetLife, Inc. |  | December 2006 |  | 6.400% |  | December 2036 |  | LIBOR + 2.205% |  | December 2066 |  | $ | 1,250 |  |  | $ | (15) |  |  | $ | 1,235 |  |  | $ | 1,250 |  |  | $ | (16) |  |  | $ | 1,234 |
MetLife Capital Trust IV (3) |  | December 2007 |  | 7.875% |  | December 2037 |  | LIBOR + 3.960% |  | December 2067 |  | 700 |  |  | (13) |  |  | 687 |  |  | 700 |  |  | (13) |  |  | 687 |
MetLife, Inc. |  | April 2008 |  | 9.250% |  | April 2038 |  | LIBOR + 5.540% |  | April 2068 |  | 750 |  |  | (9) |  |  | 741 |  |  | 750 |  |  | (9) |  |  | 741 |
MetLife, Inc. |  | July 2009 |  | 10.750% |  | August 2039 |  | LIBOR + 7.548% |  | August 2069 |  | 500 |  |  | (5) |  |  | 495 |  |  | 500 |  |  | (6) |  |  | 494 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 3,200 |  |  | $ | (42) |  |  | $ | 3,158 |  |  | $ | 3,200 |  |  | $ | (44) |  |  | $ | 3,156 |
_________________ (1)Prior to the scheduled redemption date, interest is payable semiannually in arrears. (2)In the event the securities are not redeemed on or before the scheduled redemption date, interest will accrue after such date at an annual rate of three-month LIBOR plus the indicated margin, payable quarterly in arrears. On March 5, 2021, the Intercontinental Exchange Benchmark Administration, the administrator of LIBOR, announced that it will cease the publication of three-month U.S. Dollar LIBOR at the end of June 2023. Existing contract fallback provisions, and whether, how, and when the Company develops and adopts alternative reference rates, will influence the effect of any changes to or discontinuation of LIBOR on the Company. (3)MetLife Capital Trust IV is a VIE which is consolidated on the financial statements of the Company. The securities issued by this entity are exchangeable surplus trust securities, which are exchangeable for a like amount of MetLife, Inc.’s junior subordinated debt securities on the scheduled redemption date, mandatorily under certain circumstances, and at any time upon MetLife, Inc. exercising its option to redeem the securities.

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