v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment
Three Months Ended June 30, 2026
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
852 
$
265 
$
358 
$
147 
$
1,622 
Less: Revenues excluded from adjusted earnings (1)
(522)
12 
19 
10 
Less: Segment expenses:
Policyholder benefits and claims
119 
148 
324 
— 
Interest credited to policyholder account balances, excluding market value adjustments
345 
29 
62 
91 
Amortization of DAC and VOBA
137 
20 
— 
— 
Interest expense on debt
— 
— 
— 
38 
Other expenses (2)
342 
63 
23 
21 
Less: Provision for income tax expense (benefit)
82 
(3)
(14)
(7)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
— 
Less: Preferred stock dividends
— 
— 
— 
25 
Adjusted earnings (loss)
$
349 
$
(4)
$
(56)
$
(31)
258 
Adjustments for:
Net investment gains (losses)
(6)
Investment gains (losses) on trading securities
2 
Net derivative gains (losses), excluding investment hedge adjustments of $0
(477)
Change in market risk benefits
1,370 
Market value adjustments
(4)
Provision for income tax (expense) benefit
(187)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders$956 
Interest revenue
$
799 
$
66 
$
242 
$
132 
Three Months Ended June 30, 2025
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
202 
$
269 
$
209 
$
191 
$
871 
Less: Revenues excluded from adjusted earnings (1)
(1,129)
(14)
(173)
33 
Less: Segment expenses:
Policyholder benefits and claims
98 
213 
400 
— 
Interest credited to policyholder account balances, excluding market value adjustments
354 
28 
58 
103 
Amortization of DAC and VOBA
127 
22 
— 
— 
Interest expense on debt
— 
— 
— 
38 
Other expenses (2)
342 
53 
29 
20 
Less: Provision for income tax expense (benefit)
78 
(7)
(22)
(3)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
— 
Less: Preferred stock dividends
— 
— 
— 
25 
Adjusted earnings (loss)
$
332 
$
(26)
$
(83)
$
(25)
198 
Adjustments for:
Net investment gains (losses)
(39)
Investment gains (losses) on trading securities
(6)
Net derivative gains (losses), excluding investment hedge adjustments of $1
(1,238)
Change in market risk benefits
1,101 
Market value adjustments
6 
Provision for income tax (expense) benefit
38 
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders
$
60 
Interest revenue
$
757 
$
97 
$
283 
$
155 
Six Months Ended June 30, 2026
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
1,651 
$
506 
$
712 
$
280 
$
3,149 
Less: Revenues excluded from adjusted earnings (1)
(1,078)
5 
10 
11 
Less: Segment expenses:
Policyholder benefits and claims
243 
318 
667 
— 
Interest credited to policyholder account balances, excluding market value adjustments
679 
58 
115 
181 
Amortization of DAC and VOBA
274 
41 
— 
— 
Interest expense on debt
— 
— 
— 
76 
Other expenses (2)
702 
99 
51 
36 
Less: Provision for income tax expense (benefit)
158 
(5)
(27)
(15)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
2 
Less: Preferred stock dividends
— 
— 
— 
51 
Adjusted earnings (loss)
$
673 
$
(10)
$
(104)
$
(62)
497 
Adjustments for:
Net investment gains (losses)
(58)
Investment gains (losses) on trading securities
(8)
Net derivative gains (losses), excluding investment hedge adjustments of $0
(986)
Change in market risk benefits
622 
Market value adjustments
9 
Provision for income tax (expense) benefit
88 
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders
$
164 
Interest revenue
$
1,570 
$
164 
$
510 
$
263 
Six Months Ended June 30, 2025
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
1,792 
$
550 
$
577 
$
342 
$
3,261 
Less: Revenues excluded from adjusted earnings (1)(883)(24)(172)30 
Less: Segment expenses:
Policyholder benefits and claims208 400 752 — 
Interest credited to policyholder account balances, excluding market value adjustments712 55 118 209 
Amortization of DAC and VOBA253 44 — — 
Interest expense on debt
— 
— 
— 
76 
Other expenses (2)705 98 65 31 
Less: Provision for income tax expense (benefit)
151 
(6)
(39)
(8)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
2 
Less: Preferred stock dividends
— 
— 
— 
51 
Adjusted earnings (loss)
$
646 
$
(17)
$
(147)
$
(49)
433 
Adjustments for:
Net investment gains (losses)
(122)
Investment gains (losses) on trading securities
— 
Net derivative gains (losses), excluding investment hedge adjustments of $1
(927)
Change in market risk benefits
208 
Market value adjustments
(4)
Provision for income tax (expense) benefit
178 
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders
$
(234)
Interest revenue
$
1,510 
$
204 
$
555 
$
314 
_______________
(1)For each reportable segment, certain revenues are excluded from adjusted earnings (loss), including net investment gains (losses), investment gains (losses) on trading securities and net derivative gains (losses), excluding Investment Hedge Adjustments.
(2)Other expenses include corporate expense allocations directly attributable to each of the segments.
Total assets by segment were as follows at:
June 30, 2026
December 31, 2025
(In millions)
Annuities
$
171,197 
$
166,867 
Life
28,055 
27,494 
Run-off
24,463 
25,455 
Corporate & Other
23,465 
21,984 
Total
$
247,180 
$
241,800 
Premiums, Universal Life and Investment-Type Product Policy Fees and Other Revenues by Product Groups
Total premiums, universal life and investment-type product policy fees and other revenues by major product group were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(In millions)
Annuity products
$578 $577 
$
1,162 
$
1,168 
Life insurance products
278 280 
519 
556 
Other products
8 5 
13 
3 
Total
$
864 
$
862 
$
1,694 
$
1,727