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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Operating results by segment, as well as Corporate & Other, were as follows:

						Three Months Ended March 31, 2023
						Annuities						Life						Run-off						Corporate & Other						Total
						(In millions)
Pre-tax adjusted earnings						$	387					$	—					$	(134)					$	5					$	258
Provision for income tax expense (benefit)						73						(1)						(28)						(9)						35
Post-tax adjusted earnings						314						1						(106)						14						223
Less: Net income (loss) attributable to noncontrolling interests						—						—						—						2						2
Less: Preferred stock dividends						—						—						—						26						26
Adjusted earnings						$	314					$	1					$	(106)					$	(14)					195
Adjustments for:
Net investment gains (losses)																														(96)
Net derivative gains (losses)																														(575)
Change in market risk benefits																														(194)
Other adjustments to net income (loss)																														(46)
Provision for income tax (expense) benefit																														191
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders																														$	(525)
Interest revenue						$	594					$	100					$	254					$	149
Interest expense						$	—					$	—					$	—					$	38

						Three Months Ended March 31, 2022
						Annuities						Life						Run-off						Corporate & Other						Total
						(In millions)
Pre-tax adjusted earnings						$	438					$	83					$	31					$	(38)					$	514
Provision for income tax expense (benefit)						84						17						7						(3)						105
Post-tax adjusted earnings						354						66						24						(35)						409
Less: Net income (loss) attributable to noncontrolling interests						—						—						—						2						2
Less: Preferred stock dividends						—						—						—						27						27
Adjusted earnings						$	354					$	66					$	24					$	(64)					380
Adjustments for:
Net investment gains (losses)																														(68)
Net derivative gains (losses)																														(54)
Change in market risk benefits																														1,579
Other adjustments to net income (loss)																														32
Provision for income tax (expense) benefit																														(311)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders																														$	1,558
Interest revenue						$	555					$	160					$	401					$	41
Interest expense						$	—					$	—					$	—					$	38

Total assets by segment, as well as Corporate & Other, were as follows at:

						March 31, 2023						December 31, 2022
						(In millions)
Annuities						$	155,541					$	151,192
Life						22,621						22,057
Run-off						29,126						28,436
Corporate & Other						22,714						23,162
Total						$	230,002					$	224,847

Reconciliation of Revenue from Segments to Consolidated

Total revenues by segment, as well as Corporate & Other, were as follows:

												Three Months Ended March 31,
																		2023						2022
																		(In millions)
Annuities																		$	1,170					$	1,202
Life																		304						363
Run-off																		380						535
Corporate & Other																		139						41
Adjustments																		(709)						(128)
Total																		$	1,284					$	2,013

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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