Earnings Per Common Share

3 Months Ended

Mar. 31, 2023

The calculation of earnings per common share was as follows:


	Three Months Ended March 31,
		2023		2022
		(In millions, except share and per share data)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders		$	(525)	$	1,558

Weighted average common shares outstanding — basic		67,873,189		76,853,890
Dilutive effect of share-based awards		—		622,575
Weighted average common shares outstanding — diluted		67,873,189		77,476,465

Earnings per common share:
Basic		$	(7.72)	$	20.27
Diluted		$	(7.72)	$	20.11

For the three months ended March 31, 2023, basic loss per common share equaled diluted loss per common share. The diluted shares were not included in the per share calculation for this period as the inclusion of such shares would have an antidilutive effect.

For the three months ended March 31, 2022, weighted average shares used for calculating diluted earnings per common share excludes 187,371 of out-of-the-money stock options, as the inclusion of such shares would be antidilutive to the earnings per common share calculation due to the average share price for the three months ended March 31, 2022.