v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $86,653 and $87,046, respectively; allowance for credit losses of $64 and $64, respectively) $ 80,823 $ 82,014
Trading securities, at estimated fair value 596 506
Equity securities, at estimated fair value 83 79
Mortgage loans (net of allowance for credit losses of $220 and $200, respectively) 22,607 22,755
Policy loans 1,455 1,450
Limited partnerships and limited liability companies 4,568 4,696
Short-term investments, principally at estimated fair value 960 1,197
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $0 and $0, respectively) 13,940 7,932
Total investments 125,032 120,629
Cash and cash equivalents 7,105 5,387
Accrued investment income 1,235 1,260
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively) 20,757 21,579
Deferred policy acquisition costs and value of business acquired 4,487 4,567
Current income tax recoverable 10 16
Deferred income tax asset 1,535 1,442
Market risk benefit assets 1,025 1,060
Other assets 303 332
Separate account assets 85,691 85,528
Total assets 247,180 241,800
Liabilities    
Future policy benefits 31,940 32,025
Policyholder account balances 89,076 87,952
Market risk benefit liabilities 7,439 8,063
Other policy-related balances 3,836 3,893
Payables for collateral under securities loaned and other transactions 6,781 4,705
Long-term debt 3,154 3,155
Other liabilities 12,648 9,646
Separate account liabilities 85,691 85,528
Total liabilities 240,565 234,967
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; 124,637,731 and 124,081,967 shares issued, respectively; 57,508,193 and 57,171,217 shares outstanding, respectively 1 1
Additional paid-in capital 13,847 13,870
Retained earnings (deficit) (471) (686)
Treasury stock, at cost; 67,129,538 and 66,910,750 shares, respectively (2,701) (2,688)
Accumulated other comprehensive income (loss) (4,126) (3,729)
Total Brighthouse Financial, Inc.’s stockholders’ equity 6,550 6,768
Noncontrolling interests 65 65
Total equity 6,615 6,833
Total liabilities and equity $ 247,180 $ 241,800