
	Three Months Ended March 31,
		2026		2025
		(In millions, except share and per share data)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders		$	(792)	$	(294)

Weighted average common shares outstanding — basic		57,331,474		58,258,125
Dilutive effect of share-based awards		—		—
Weighted average common shares outstanding — diluted		57,331,474		58,258,125

Earnings per common share:
Basic		$	(13.82)	$	(5.04)
Diluted		$	(13.82)	$	(5.04)

The dilutive effect of share-based awards is calculated using the treasury stock method, which assumes that the proceeds from the exercise of these instruments are used to repurchase shares of common stock at the average market price during the period. See Note 12 of the Notes to the Consolidated Financial Statements included in the 2025 Annual Report for further information on share-based compensation plans.

For both the three months ended March 31, 2026 and 2025, basic loss per common share equaled diluted loss per common share. Dilutive shares and diluted earnings per share are not applicable when a net loss is reported.