v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $87,206 and $87,046, respectively; allowance for credit losses of $65 and $64, respectively) $ 81,232 $ 82,014
Trading securities, at estimated fair value 544 506
Equity securities, at estimated fair value 76 79
Mortgage loans (net of allowance for credit losses of $210 and $200, respectively) 22,620 22,755
Policy loans 1,458 1,450
Limited partnerships and limited liability companies 4,673 4,696
Short-term investments, principally at estimated fair value 1,236 1,197
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $0 and $0, respectively) 9,617 7,932
Total investments 121,456 120,629
Cash and cash equivalents 4,907 5,387
Accrued investment income 1,302 1,260
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively) 20,826 21,579
Deferred policy acquisition costs and value of business acquired 4,520 4,567
Current income tax recoverable 16 16
Deferred income tax asset 1,781 1,442
Market risk benefit assets 850 1,060
Other assets 324 332
Separate account assets 80,821 85,528
Total assets 236,803 241,800
Liabilities    
Future policy benefits 31,773 32,025
Policyholder account balances 86,379 87,952
Market risk benefit liabilities 8,564 8,063
Other policy-related balances 3,994 3,893
Payables for collateral under securities loaned and other transactions 4,661 4,705
Long-term debt 3,154 3,155
Other liabilities 11,829 9,646
Separate account liabilities 80,821 85,528
Total liabilities 231,175 234,967
Contingencies, Commitments and Guarantees (Note 13)
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; 124,536,688 and 124,081,967 shares issued, respectively; 57,437,709 and 57,171,217 shares outstanding, respectively 1 1
Additional paid-in capital 13,869 13,870
Retained earnings (deficit) (1,452) (686)
Treasury stock, at cost; 67,098,979 and 66,910,750 shares, respectively (2,699) (2,688)
Accumulated other comprehensive income (loss) (4,156) (3,729)
Total Brighthouse Financial, Inc.’s stockholders’ equity 5,563 6,768
Noncontrolling interests 65 65
Total equity 5,628 6,833
Total liabilities and equity $ 236,803 $ 241,800