v3.26.1
Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Equity
10. Equity
Capital Contribution
On February 11, 2025, Brighthouse Life Insurance Company received a $100 million capital contribution from BH Holdings.
Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI was as follows:
Three Months Ended March 31, 2026
Unrealized Investment Gains (Losses), Net of Related Offsets (1)
Unrealized Gains (Losses) on Derivatives
Changes in Nonperformance Risk on Market Risk Benefits
Changes in Discount Rates on the Liability for Future Policy Benefits
Foreign Currency Translation Adjustments
Total
(In millions)
Balance at December 31, 2025
$
(3,414)
$
173 
$(1,255)$885 
$
9 
$
(3,602)
OCI before reclassifications
(944)
97 
110 200 
(8)
(545)
Deferred income tax benefit (expense) (2)
198 
(20)
(23)(42)
2 
115 
AOCI before reclassifications, net of income tax
(4,160)
250 
(1,168)
1,043 
3 
(4,032)
Amounts reclassified from AOCI
22 
1 
— — 
— 
23 
Deferred income tax benefit (expense) (2)
(5)
— 
— — 
— 
(5)
Amounts reclassified from AOCI, net of income tax
17 
1 
— 
— 
— 
18 
Balance at March 31, 2026
$
(4,143)
$
251 
$
(1,168)
$
1,043 
$
3 
$
(4,014)
Three Months Ended March 31, 2025
Unrealized Investment Gains (Losses), Net of Related Offsets (1)
Unrealized Gains (Losses) on Derivatives
Changes in Nonperformance Risk on Market Risk Benefits
Changes in Discount Rates on the Liability for Future Policy Benefits
Foreign Currency Translation Adjustments
Total
(In millions)
Balance at December 31, 2024
$
(5,046)
$
364 
$(1,602)$1,146 
$
(25)
$
(5,163)
OCI before reclassifications
913 
(16)
(27)(155)
16 
731 
Deferred income tax benefit (expense) (2)
(191)
3 
6 32 
(3)
(153)
AOCI before reclassifications, net of income tax
(4,324)
351 
(1,623)
1,023 
(12)
(4,585)
Amounts reclassified from AOCI
28 
(7)
— — 
— 
21 
Deferred income tax benefit (expense) (2)
(6)
1 
— — 
— 
(5)
Amounts reclassified from AOCI, net of income tax
22 
(6)
— 
— 
— 
16 
Balance at March 31, 2025
$
(4,302)
$
345 
$
(1,623)
$
1,023 
$
(12)
$
(4,569)
_______________
(1)See Note 7 for information on offsets to investments related to future policy benefits.
(2)The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.
Information regarding amounts reclassified out of each component of AOCI was as follows:
AOCI Components
Amounts Reclassified from AOCI
Consolidated Statements of Operations and Comprehensive Income (Loss) Locations
Three Months Ended
March 31,
2026
2025
(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)
$
(22)
$(25)
Net investment gains (losses)
Net unrealized investment gains (losses)
— (3)
Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
(22)
(28)
Income tax (expense) benefit
5 6 
Net unrealized investment gains (losses), net of income tax
(17)
(22)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps
— 3 
Net derivative gains (losses)
Interest rate swaps
1 1 
Net investment income
Foreign currency swaps
(2)3 
Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax
(1)
7 
Income tax (expense) benefit
— (1)
Gains (losses) on cash flow hedges, net of income tax
(1)
6 
Total reclassifications, net of income tax
$
(18)
$
(16)