Equity (Tables)

12 Months Ended

Dec. 31, 2021

Schedules of statutory net income, capital and surplus and reserve strengthening by subsidiary including dividend restrictions

Statutory net income (loss) was as follows:


		Years Ended December 31,
Company	State of Domicile	2021		2020		2019
		(In millions)
Brighthouse Life Insurance Company	Delaware	$	(156)	$	(979)	$	1,074
Brighthouse Life Insurance Company of NY	New York	$	(52)	$	(390)	$	(139)

Statutory capital and surplus was as follows at:


	December 31,
Company	2021		2020
	(In millions)
Brighthouse Life Insurance Company	$	7,763	$	7,410
Brighthouse Life Insurance Company of NY	$	357	$	373

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:


	2022		2021		2020		2019
Company	Permitted Without Approval (1)		Paid (2)		Paid (2)		Paid (2)
	(In millions)
Brighthouse Life Insurance Company	$	1,475	$	550	$	1,250	$	—
Brighthouse Life Insurance Company of NY	$	—	$	—	$	—	$	28

_______________

(1)Reflects dividend amounts that may be paid during 2022 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 2022, some or all of such dividends may require regulatory approval.

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

Components 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, 2018	$	564	$	180	$	(26)	$	718
OCI before reclassifications	3,224		37		12		3,273
Deferred income tax benefit (expense) (3)	(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) (3)	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) (3)	(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) (3)	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
OCI before reclassifications	(2,090)		170		1		(1,919)
Deferred income tax benefit (expense) (3)	438		(36)		—		402
AOCI before reclassifications, net of income tax	3,669		242		(7)		3,904
Amounts reclassified from AOCI	7		(12)		—		(5)
Deferred income tax benefit (expense) (3)	(1)		3		—		2
Amounts reclassified from AOCI, net of income tax	6		(9)		—		(3)
Balance at December 31, 2021	$	3,675	$	233	$	(7)	$	3,901

_______________

(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 the allowance for credit losses guidance.

(3)The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.

Reclassification out of Accumulated Other Comprehensive Income [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,
	2021		2020		2019
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains(losses)	$	(4)	$	319	$	94	Net investment gains (losses)
Net unrealized investment gains (losses)	—		—		—		Net investment income
Net unrealized investment gains (losses)	(3)		(14)		(37)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(7)		305		57
Income tax (expense) benefit	1		(64)		(12)
Net unrealized investment gains (losses), net of income tax	(6)		241		45
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	2		2		31		Net derivative gains (losses)
Interest rate swaps	3		3		2		Net investment income


Foreign currency swaps	7		13		25		Net derivative gains (losses)


Gains (losses) on cash flow hedges, before income tax	12		18		58
Income tax (expense) benefit	(3)		(4)		(12)
Gains (losses) on cash flow hedges, net of income tax	9		14		46
Total reclassifications, net of income tax	$	3	$	255	$	91

- 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.

+ References + Details