Equity (Tables)

12 Months Ended

Dec. 31, 2020

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:


	2021		2020		2019		2018
Company	Permitted Without Approval (1)		Paid (2)		Paid (2)		Paid (2)
	(In millions)
Brighthouse Life Insurance Company	$	733	$	1,250	$	—	$	—
Brighthouse Life Insurance Company of NY	$	—	$	—	$	28	$	—

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(1)Reflects dividend amounts that may be paid during 2021 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 2021, some or all of such dividends may require regulatory approval.

(2)Reflects all amounts paid, including those requiring regulatory approval.

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	2020		2019		2018
		(In millions)
Brighthouse Life Insurance Company	Delaware	$	(979)	$	1,074	$	(1,104)
Brighthouse Life Insurance Company of NY	New York	$	(390)	$	(139)	$	19

Statutory capital and surplus was as follows at:


	December 31,
Company	2020		2019
	(In millions)
Brighthouse Life Insurance Company	$	7,410	$	8,746
Brighthouse Life Insurance Company of NY	$	373	$	579

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)
Balance at December 31, 2017	$	1,709	$	151	$	(23)	$	1,837
Cumulative effect of change in accounting principle and other, net of income tax	(79)		—		—		(79)
Balance, January 1, 2018	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)
Balance at December 31, 2018	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)
Balance at December 31, 2019	3,066		163		(14)		3,215
OCI before reclassifications (2)	3,159		(52)		19		3,126
Deferred income tax benefit (expense)	(663)		11		(13)		(665)
AOCI before reclassifications, net of income tax	5,562		122		(8)		5,676
Amounts reclassified from AOCI	(305)		(18)		—		(323)
Deferred income tax benefit (expense)	64		4		—		68
Amounts reclassified from AOCI, net of income tax	(241)		(14)		—		(255)
Balance at December 31, 2020	$	5,321	$	108	$	(8)	$	5,421

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(1)See Note 6 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI.

(2)Includes $3 million related to the adoption of ASU 2016-13 (see Note 1).

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
	Years Ended December 31,
	2020		2019		2018
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains(losses)	$	319	$	94	$	(178)	Net investment gains (losses)
Net unrealized investment gains (losses)	—		—		1		Net investment income
Net unrealized investment gains (losses)	(14)		(37)		(2)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	305		57		(179)
Income tax (expense) benefit	(64)		(12)		38
Net unrealized investment gains (losses), net of income tax	241		45		(141)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	2		31		98		Net derivative gains (losses)
Interest rate swaps	3		2		3		Net investment income
Interest rate forwards	—		—		31		Net derivative gains (losses)
Interest rate forwards	—		—		2		Net investment income
Foreign currency swaps	13		25		—		Net derivative gains (losses)


Gains (losses) on cash flow hedges, before income tax	18		58		134
Income tax (expense) benefit	(4)		(12)		47
Gains (losses) on cash flow hedges, net of income tax	14		46		181
Total reclassifications, net of income tax	$	255	$	91	$	40

- Definition

Tabular 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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