v3.22.2
Segment Information (Tables)
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6 Months Ended |
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Segment Reporting [Abstract] |
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Segment Reporting Information, by Segment |
Operating results by segment, as well as Corporate & Other, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2022 | | | Annuities | | Life | | Run-off | | Corporate & Other | | Total | | | (In millions) | Pre-tax adjusted earnings | | $ | 248 | | | $ | 28 | | | $ | (207) | | | $ | (38) | | | $ | 31 | | Provision for income tax expense (benefit) | | 44 | | | 5 | | | (43) | | | (25) | | | (19) | | Post-tax adjusted earnings | | 204 | | | 23 | | | (164) | | | (13) | | | 50 | | Less: Net income (loss) attributable to noncontrolling interests | | — | | | — | | | — | | | — | | | — | | Less: Preferred stock dividends | | — | | | — | | | — | | | 26 | | | 26 | | Adjusted earnings | | $ | 204 | | | $ | 23 | | | $ | (164) | | | $ | (39) | | | 24 | | Adjustments for: | | | | | | | | | | | Net investment gains (losses) | | | | | | | | | | (66) | | Net derivative gains (losses) | | | | | | | | | | 1,733 | | Other adjustments to net income (loss) | | | | | | | | | | (485) | | Provision for income tax (expense) benefit | | | | | | | | | | (249) | | Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders | | | | | | | | | | $ | 957 | | | | | | | | | | | | | Interest revenue | | $ | 546 | | | $ | 112 | | | $ | 350 | | | $ | 62 | | | | Interest expense | | $ | — | | | $ | — | | | $ | — | | | $ | 38 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2021 | | | Annuities | | Life | | Run-off | | Corporate & Other | | Total | | | (In millions) | Pre-tax adjusted earnings | | $ | 417 | | | $ | 85 | | | $ | 140 | | | $ | (82) | | | $ | 560 | | Provision for income tax expense (benefit) | | 79 | | | 17 | | | 18 | | | (10) | | | 104 | | Post-tax adjusted earnings | | 338 | | | 68 | | | 122 | | | (72) | | | 456 | | Less: Net income (loss) attributable to noncontrolling interests | | — | | | — | | | — | | | — | | | — | | Less: Preferred stock dividends | | — | | | — | | | — | | | 21 | | | 21 | | Adjusted earnings | | $ | 338 | | | $ | 68 | | | $ | 122 | | | $ | (93) | | | 435 | | Adjustments for: | | | | | | | | | | | Net investment gains (losses) | | | | | | | | | | (34) | | Net derivative gains (losses) | | | | | | | | | | (684) | | Other adjustments to net income (loss) | | | | | | | | | | 179 | | Provision for income tax (expense) benefit | | | | | | | | | | 114 | | Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders | | | | | | | | | | $ | 10 | | | | | | | | | | | | | Interest revenue | | $ | 533 | | | $ | 168 | | | $ | 499 | | | $ | 17 | | | | Interest expense | | $ | — | | | $ | — | | | $ | — | | | $ | 40 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2022 | | | Annuities | | Life | | Run-off | | Corporate & Other | | Total | | | (In millions) | Pre-tax adjusted earnings | | $ | 631 | | | $ | 60 | | | $ | (187) | | | $ | (69) | | | $ | 435 | | Provision for income tax expense (benefit) | | 116 | | | 11 | | | (39) | | | (26) | | | 62 | | Post-tax adjusted earnings | | 515 | | | 49 | | | (148) | | | (43) | | | 373 | | Less: Net income (loss) attributable to noncontrolling interests | | — | | | — | | | — | | | 2 | | | 2 | | Less: Preferred stock dividends | | — | | | — | | | — | | | 53 | | | 53 | | Adjusted earnings | | $ | 515 | | | $ | 49 | | | $ | (148) | | | $ | (98) | | | 318 | | Adjustments for: | | | | | | | | | | | Net investment gains (losses) | | | | | | | | | | (134) | | Net derivative gains (losses) | | | | | | | | | | 2,246 | | Other adjustments to net income (loss) | | | | | | | | | | (527) | | Provision for income tax (expense) benefit | | | | | | | | | | (333) | | Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders | | | | | | | | | | $ | 1,570 | | | | | | | | | | | | | Interest revenue | | $ | 1,101 | | | $ | 265 | | | $ | 751 | | | $ | 110 | | | | Interest expense | | $ | — | | | $ | — | | | $ | — | | | $ | 76 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2021 | | | Annuities | | Life | | Run-off | | Corporate & Other | | Total | | | (In millions) | Pre-tax adjusted earnings | | $ | 831 | | | $ | 137 | | | $ | 225 | | | $ | (143) | | | $ | 1,050 | | Provision for income tax expense (benefit) | | 157 | | | 27 | | | 27 | | | (29) | | | 182 | | Post-tax adjusted earnings | | 674 | | | 110 | | | 198 | | | (114) | | | 868 | | Less: Net income (loss) attributable to noncontrolling interests | | — | | | — | | | — | | | 2 | | | 2 | | Less: Preferred stock dividends | | — | | | — | | | — | | | 46 | | | 46 | | Adjusted earnings | | $ | 674 | | | $ | 110 | | | $ | 198 | | | $ | (162) | | | 820 | | Adjustments for: | | | | | | | | | | | Net investment gains (losses) | | | | | | | | | | (20) | | Net derivative gains (losses) | | | | | | | | | | (2,188) | | Other adjustments to net income (loss) | | | | | | | | | | 411 | | Provision for income tax (expense) benefit | | | | | | | | | | 377 | | Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders | | | | | | | | | | $ | (600) | | | | | | | | | | | | | Interest revenue | | $ | 1,083 | | | $ | 334 | | | $ | 961 | | | $ | 31 | | | | Interest expense | | $ | — | | | $ | — | | | $ | — | | | $ | 81 | | | |
Total assets by segment, as well as Corporate & Other, were as follows at: | | | | | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | | | (In millions) | Annuities | | $ | 153,186 | | | $ | 178,700 | | Life | | 21,854 | | | 24,514 | | Run-off | | 30,888 | | | 37,055 | | Corporate & Other | | 22,283 | | | 19,571 | | Total | | $ | 228,211 | | | $ | 259,840 | |
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Reconciliation of Revenue from Segments to Consolidated |
Total revenues by segment, as well as Corporate & Other, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2022 | | 2021 | | 2022 | | 2021 | | | (In millions) | Annuities | | $ | 1,207 | | | $ | 1,257 | | | $ | 2,479 | | | $ | 2,555 | | Life | | 276 | | | 383 | | | 616 | | | 793 | | Run-off | | 514 | | | 662 | | | 1,076 | | | 1,290 | | Corporate & Other | | 81 | | | 36 | | | 148 | | | 71 | | Adjustments | | 1,719 | | | (662) | | | 2,218 | | | (2,095) | | Total | | $ | 3,797 | | | $ | 1,676 | | | $ | 6,537 | | | $ | 2,614 | |
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- DefinitionTabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.
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- DefinitionTabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.
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