Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Operating results by segment, as well as Corporate & Other, were as follows:

	Three Months Ended September 30, 2020
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	479	$	94	$	(1,443)	$	(32)	$	(902)
Provision for income tax expense (benefit)	92		18		(304)		(38)		(232)
Post-tax adjusted earnings	387		76		(1,139)		6		(670)
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		2		2
Less: Preferred stock dividends	—		—		—		17		17
Adjusted earnings	$	387	$	76	$	(1,139)	$	(13)	(689)
Adjustments for:
Net investment gains (losses)									5
Net derivative gains (losses)									(1,857)
Other adjustments to net income (loss)									(1,089)
Provision for income tax (expense) benefit									618
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	(3,012)
Interest revenue	$	469	$	131	$	383	$	18
Interest expense	$	—	$	—	$	—	$	47

	Three Months Ended September 30, 2019
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	255	$	91	$	(543)	$	(67)	$	(264)
Provision for income tax expense (benefit)	52		18		(117)		(57)		(104)
Post-tax adjusted earnings	203		73		(426)		(10)		(160)
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		2		2
Less: Preferred stock dividends	—		—		—		7		7
Adjusted earnings	$	203	$	73	$	(426)	$	(19)	(169)
Adjustments for:
Net investment gains (losses)									27
Net derivative gains (losses)									1,057
Other adjustments to net income (loss)									(16)
Provision for income tax (expense) benefit									(223)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	676
Interest revenue	$	461	$	117	$	327	$	23
Interest expense	$	—	$	—	$	—	$	49

	Nine Months Ended September 30, 2020
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	1,073	$	167	$	(1,679)	$	(189)	$	(628)
Provision for income tax expense (benefit)	199		32		(355)		(72)		(196)
Post-tax adjusted earnings	874		135		(1,324)		(117)		(432)
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		4		4
Less: Preferred stock dividends	—		—		—		31		31
Adjusted earnings	$	874	$	135	$	(1,324)	$	(152)	(467)
Adjustments for:
Net investment gains (losses)									(48)
Net derivative gains (losses)									2,392
Other adjustments to net income (loss)									(1,829)
Provision for income tax (expense) benefit									(108)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	(60)
Interest revenue	$	1,334	$	316	$	873	$	54
Interest expense	$	—	$	—	$	—	$	139

	Nine Months Ended September 30, 2019
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	939	$	194	$	(587)	$	(224)	$	322
Provision for income tax expense (benefit)	176		38		(127)		(100)		(13)
Post-tax adjusted earnings	763		156		(460)		(124)		335
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		4		4
Less: Preferred stock dividends	—		—		—		14		14
Adjusted earnings	$	763	$	156	$	(460)	$	(142)	317
Adjustments for:
Net investment gains (losses)									79
Net derivative gains (losses)									(97)
Other adjustments to net income (loss)									16
Provision for income tax (expense) benefit									1
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	316
Interest revenue	$	1,352	$	330	$	942	$	57
Interest expense	$	—	$	—	$	—	$	144

Total assets by segment, as well as Corporate & Other, were as follows at:

	September 30, 2020		December 31, 2019
	(In millions)
Annuities	$	162,285	$	156,965
Life	22,839		21,876
Run-off	38,256		35,112
Corporate & Other	16,301		13,306
Total	$	239,681	$	227,259

Reconciliation of Revenue from Segments to Consolidated

Total revenues by segment, as well as Corporate & Other, were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In millions)
Annuities	$	1,157	$	1,184	$	3,360	$	3,495
Life	350		320		989		953
Run-off	553		484		1,378		1,487
Corporate & Other	39		47		118		132
Adjustments	(1,790)		1,152		2,527		181
Total	$	309	$	3,187	$	8,372	$	6,248