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: $86,021 and $85,907, respectively; allowance for credit losses of $64 and $62, respectively) $ 80,143 $ 80,960
Trading securities, at estimated fair value 544 506
Equity securities, at estimated fair value 22 23
Mortgage loans (net of allowance for credit losses of $210 and $200, respectively) 22,595 22,726
Policy loans 1,059 1,047
Limited partnerships and limited liability companies 4,673 4,696
Short-term investments, principally at estimated fair value 781 668
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $0 and $0, respectively) 9,613 7,932
Total investments 119,430 118,558
Cash and cash equivalents 4,593 5,057
Accrued investment income 1,282 1,242
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively) 20,555 21,238
Deferred policy acquisition costs and value of business acquired 4,240 4,276
Current income tax recoverable 66 62
Deferred income tax asset 1,727 1,389
Market risk benefit assets 850 1,060
Other assets 277 279
Separate account assets 74,551 78,825
Total assets 227,571 231,986
Liabilities    
Future policy benefits 31,424 31,682
Policyholder account balances 85,620 87,174
Market risk benefit liabilities 8,579 8,079
Other policy-related balances 3,816 3,715
Payables for collateral under securities loaned and other transactions 4,652 4,696
Long-term debt 831 832
Other liabilities 11,203 8,885
Separate account liabilities 74,551 78,825
Total liabilities 220,676 223,888
Contingencies, Commitments and Guarantees (Note 12)
Brighthouse Life Insurance Company’s stockholder’s equity:    
Common stock, par value $25,000 per share; 4,000 shares authorized; 3,000 shares issued and outstanding 75 75
Additional paid-in capital 17,607 17,607
Retained earnings (deficit) (6,788) (5,997)
Accumulated other comprehensive income (loss) (4,014) (3,602)
Total Brighthouse Life Insurance Company’s stockholder’s equity 6,880 8,083
Noncontrolling interests 15 15
Total equity 6,895 8,098
Total liabilities and equity $ 227,571 $ 231,986