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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues    
Premiums $ 197 $ 166
Universal life and investment-type product policy fees 606 680
Net investment income 1,059 1,151
Other revenues 93 138
Net investment gains (losses) (96) (68)
Net derivative gains (losses) (575) (54)
Total revenues 1,284 2,013
Expenses    
Policyholder benefits and claims (including liability remeasurement gains (losses) of $0 and $0, respectively) 687 675
Interest credited to policyholder account balances 422 248
Amortization of deferred policy acquisition costs and value of business acquired 156 157
Change in market risk benefits 194 (1,579)
Other expenses 478 509
Total expenses 1,937 10
Income (loss) before provision for income tax (653) 2,003
Provision for income tax expense (benefit) (156) 416
Net income (loss) (497) 1,587
Less: Net income (loss) attributable to noncontrolling interests 2 2
Net income (loss) attributable to Brighthouse Financial, Inc. (499) 1,585
Less: Preferred stock dividends 26 27
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders (525) 1,558
Comprehensive income (loss) 321 (1,001)
Less: Comprehensive income (loss) attributable to noncontrolling interests 2 2
Comprehensive income (loss) attributable to Brighthouse Financial, Inc. $ 319 $ (1,003)
Earnings per common share    
Basic $ (7.72) $ 20.27
Diluted $ (7.72) $ 20.11