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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $83,751 and $83,395, respectively; allowance for credit losses of $4 and $6, respectively) $ 76,852 $ 74,757
Equity securities, at estimated fair value 63 66
Mortgage loans (net of allowance for credit losses of $136 and $119, respectively) 22,788 22,877
Policy loans 888 898
Limited partnerships and limited liability companies 4,802 4,774
Short-term investments, principally at estimated fair value 498 299
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $13 and $13, respectively) 3,309 2,984
Total investments 109,200 106,655
Cash and cash equivalents 3,402 3,752
Accrued investment income 966 868
Premiums, reinsurance and other receivables (net of allowance for credit losses of $10 and $10, respectively) 18,570 18,145
Current income tax recoverable 20 18
Deferred income tax asset 1,627 1,673
Market risk benefit assets 510 483
Other assets 314 322
Separate account assets 81,124 78,880
Total assets 220,333 215,438
Liabilities    
Future policy benefits 31,970 31,146
Policyholder account balances 75,209 72,602
Market risk benefit liabilities 10,751 10,411
Other policy-related balances 3,580 3,860
Payables for collateral under securities loaned and other transactions 4,388 4,547
Long-term and short-term debt 913 963
Other liabilities 5,616 6,515
Separate account liabilities 81,124 78,880
Total liabilities 213,551 208,924
Contingencies, Commitments and Guarantees (Note 12)
Brighthouse Life Insurance Company’s stockholder’s equity:    
Common stock, par value $25,000 per share; 4,000 shares authorized; 3,000 shares issued and outstanding 75 75
Additional paid-in capital 17,773 17,773
Retained earnings (deficit) (5,943) (5,418)
Accumulated other comprehensive income (loss) (5,138) (5,931)
Total Brighthouse Life Insurance Company’s stockholder’s equity 6,767 6,499
Noncontrolling interests 15 15
Total equity 6,782 6,514
Total liabilities and equity $ 220,333 $ 215,438