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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $84,693 and $84,344, respectively; allowance for credit losses of $5 and $7, respectively) $ 77,685 $ 75,577
Equity securities, at estimated fair value 91 89
Mortgage loans (net of allowance for credit losses of $136 and $119, respectively) 22,823 22,936
Policy loans 1,273 1,282
Limited partnerships and limited liability companies 4,803 4,775
Short-term investments, principally at estimated fair value 1,386 1,081
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $13 and $13, respectively) 3,229 2,852
Total investments 111,290 108,592
Cash and cash equivalents 3,685 4,115
Accrued investment income 985 885
Premiums, reinsurance and other receivables (net of allowance for credit losses of $10 and $10, respectively) 18,967 18,548
Deferred policy acquisition costs and value of business acquired 5,027 5,084
Current income tax recoverable 30 38
Deferred income tax asset 1,673 1,736
Market risk benefit assets 510 483
Other assets 395 401
Separate account assets 87,440 84,965
Total assets 230,002 224,847
Liabilities    
Future policy benefits 32,286 31,497
Policyholder account balances 76,120 73,527
Market risk benefit liabilities 10,729 10,389
Other policy-related balances 3,816 4,098
Payables for collateral under securities loaned and other transactions 4,401 4,560
Long-term debt 3,157 3,156
Other liabilities 6,234 7,057
Separate account liabilities 87,440 84,965
Total liabilities 224,183 219,249
Contingencies, Commitments and Guarantees (Note 12)
Brighthouse Financial, Inc.’s stockholders’ equity:    
Preferred stock, par value $0.01 per share; $1,753 aggregate liquidation preference 0 0
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 122,717,866 and 122,153,422 shares issued, respectively; 67,401,618 and 68,278,068 shares outstanding, respectively 1 1
Additional paid-in capital 14,054 14,075
Retained earnings (deficit) (894) (395)
Treasury stock, at cost; 55,316,248 and 53,875,354 shares, respectively (2,119) (2,042)
Accumulated other comprehensive income (loss) (5,288) (6,106)
Total Brighthouse Financial, Inc.’s stockholders’ equity 5,754 5,533
Noncontrolling interests 65 65
Total equity 5,819 5,598
Total liabilities and equity $ 230,002 $ 224,847