v3.19.3.a.u2
Equity (Tables)
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12 Months Ended |
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Equity [Abstract] |
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Schedule of Dividend Payment Restrictions [Table Text Block] |
The table below sets forth the dividends permitted to be paid by certain of the Company’s insurance companies without insurance regulatory approval and dividends paid: | | | | | | | | | | | | | | | | | | | | 2020 | | 2019 | | 2018 | | 2017 | Company | | Permitted Without Approval (1) | | Paid (2) | | Paid (2) | | Paid (2) | | | (In millions) | Brighthouse Life Insurance Company | | $ | 2,066 |
| | $ | — |
| | $ | — |
| | $ | — |
| Brighthouse Life Insurance Company of NY | | $ | — |
| | $ | 28 |
| | $ | — |
| | $ | — |
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_______________ | | (1) | Reflects dividend amounts that may be paid during 2020 without prior regulatory approval. However, because dividend tests may be based on dividends previously paid over rolling 12-month periods, if paid before a specified date during 2020, some or all of such dividends may require regulatory approval. See Note 16. |
(2) Reflects all amounts paid, including those requiring regulatory approval.
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Schedules of statutory net income, capital and surplus and reserve strengthening by subsidiary |
Statutory net income (loss) was as follows: | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | Company | | State of Domicile | | 2019 | | 2018 | | 2017 | | | | | (In millions) | Brighthouse Life Insurance Company | | Delaware | | $ | 1,074 |
| | $ | (1,104 | ) | | $ | (425 | ) | Brighthouse Life Insurance Company of NY | | New York | | $ | (139 | ) | | $ | 19 |
| | $ | 22 |
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Statutory capital and surplus was as follows at: | | | | | | | | | | | | December 31, | Company | | 2019 | | 2018 | | | (In millions) | Brighthouse Life Insurance Company | | $ | 8,746 |
| | $ | 6,731 |
| Brighthouse Life Insurance Company of NY | | $ | 579 |
| | $ | 279 |
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Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
Information regarding changes in the balances of each component of AOCI was as follows: | | | | | | | | | | | | | | | | | | Unrealized Investment Gains (Losses), Net of Related Offsets (1) | | Unrealized Gains (Losses) on Derivatives | | Foreign Currency Translation Adjustments | | Total | | (In millions) | | $ | 1,019 |
| | $ | 258 |
| | $ | (29 | ) | | $ | 1,248 |
| OCI before reclassifications | 529 |
| | (152 | ) | | 9 |
| | 386 |
| Deferred income tax benefit (expense) | (206 | ) | | 54 |
| | (3 | ) | | (155 | ) | AOCI before reclassifications, net of income tax | 1,342 |
| | 160 |
| | (23 | ) | | 1,479 |
| Amounts reclassified from AOCI | 61 |
| | (14 | ) | | — |
| | 47 |
| Deferred income tax benefit (expense) (2) | 306 |
| | 5 |
| | — |
| | 311 |
| Amounts reclassified from AOCI, net of income tax | 367 |
| | (9 | ) | | — |
| | 358 |
| | 1,709 |
| | 151 |
| | (23 | ) | | 1,837 |
| Cumulative effect of change in accounting principle and other, net of income tax | (79 | ) | | — |
| | — |
| | (79 | ) | | 1,630 |
| | 151 |
| | (23 | ) | | 1,758 |
| OCI before reclassifications | (1,534 | ) | | 156 |
| | (4 | ) | | (1,382 | ) | Deferred income tax benefit (expense) | 327 |
| | 54 |
| | 1 |
| | 382 |
| AOCI before reclassifications, net of income tax | 423 |
| | 361 |
| | (26 | ) | | 758 |
| Amounts reclassified from AOCI | 179 |
| | (134 | ) | | — |
| | 45 |
| Deferred income tax benefit (expense) | (38 | ) | | (47 | ) | | — |
| | (85 | ) | Amounts reclassified from AOCI, net of income tax | 141 |
| | (181 | ) | | — |
| | (40 | ) | | 564 |
| | 180 |
| | (26 | ) | | 718 |
| OCI before reclassifications | 3,224 |
| | 37 |
| | 12 |
| | 3,273 |
| Deferred income tax benefit (expense) | (677 | ) | | (8 | ) | | — |
| | (685 | ) | AOCI before reclassifications, net of income tax | 3,111 |
| | 209 |
| | (14 | ) | | 3,306 |
| Amounts reclassified from AOCI | (57 | ) | | (58 | ) | | — |
| | (115 | ) | Deferred income tax benefit (expense) | 12 |
| | 12 |
| | — |
| | 24 |
| Amounts reclassified from AOCI, net of income tax | (45 | ) | | (46 | ) | | — |
| | (91 | ) | | $ | 3,066 |
| | $ | 163 |
| | $ | (14 | ) | | $ | 3,215 |
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_______________ | | (1) | See Note 7 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI. |
(2) Includes the $330 million impact of the Tax Cuts and Job Act (the “Tax Act”) related to unrealized investments gains (losses), net of related offsets.
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Reclassification out of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
Information regarding amounts reclassified out of each component of AOCI was as follows: | | | | | | | | | | | | | | | | AOCI Components | | Amounts Reclassified from AOCI | | Consolidated Statements of Operations Locations | | | | | | | | 2019 | | 2018 | | 2017 | | | | | (In millions) | | | Net unrealized investment gains (losses): | | | | | | | | | Net unrealized investment gains(losses) | | $ | 94 |
| | $ | (178 | ) | | $ | (15 | ) | | Net investment gains (losses) | Net unrealized investment gains (losses) | | — |
| | 1 |
| | 1 |
| | Net investment income | Net unrealized investment gains (losses) | | (37 | ) | | (2 | ) | | (47 | ) | | Net derivative gains (losses) | Net unrealized investment gains (losses), before income tax | | 57 |
| | (179 | ) | | (61 | ) | | | Income tax (expense) benefit | | (12 | ) | | 38 |
| | (306 | ) | | | Net unrealized investment gains (losses), net of income tax | | 45 |
| | (141 | ) | | (367 | ) | | | Unrealized gains (losses) on derivatives - cash flow hedges: | | | | | | | | | Interest rate swaps | | 31 |
| | 98 |
| | — |
| | Net derivative gains (losses) | Interest rate swaps | | 2 |
| | 3 |
| | 3 |
| | Net investment income | Interest rate forwards | | — |
| | 31 |
| | — |
| | Net derivative gains (losses) | Interest rate forwards | | — |
| | 2 |
| | 3 |
| | Net investment income | Foreign currency swaps | | 25 |
| | — |
| | 8 |
| | Net derivative gains (losses) | Gains (losses) on cash flow hedges, before income tax | | 58 |
| | 134 |
| | 14 |
| | | Income tax (expense) benefit | | (12 | ) | | 47 |
| | (5 | ) | | | Gains (losses) on cash flow hedges, net of income tax | | 46 |
| | 181 |
| | 9 |
| | | Total reclassifications, net of income tax | | $ | 91 |
| | $ | 40 |
| | $ | (358 | ) | | |
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X |
- DefinitionTabular disclosure of statutory restrictions on the payment of dividends as prescribed by the National Association of Insurance Commissioners or state regulatory authorities.
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- DefinitionTabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.
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