Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

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	2023		2022		2021
		(In millions)
Brighthouse Life Insurance Company	Delaware	$	(3,131)	$	1,373	$	(156)
Brighthouse Life Insurance Company of NY	New York	$	539	$	(152)	$	(52)

Statutory capital and surplus was as follows at:

	December 31,
Company	2023		2022
	(In millions)
Brighthouse Life Insurance Company	$	4,623	$	6,349
Brighthouse Life Insurance Company of NY	$	819	$	223

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:

	2024		2023		2022		2021
Company	Permitted Without Approval (1)		Paid (2)		Paid (2)		Paid (2)
	(In millions)
Brighthouse Life Insurance Company (3)	$	—	$	266	$	—	$	550
Brighthouse Life Insurance Company of NY	$	81	$	—	$	—	$	—

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(1)Reflects dividend amounts that may be paid during 2024 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 2024, some or all of such dividends may require regulatory approval to the extent dividends were paid in 2023.

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

(3)Any payment of dividends in 2024 would be considered an extraordinary dividend subject to regulatory approval due to negative unassigned funds (surplus).

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		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2020	$	5,321	$	108	$	—	$	—	$	(8)	$	5,421
Cumulative effect to change in accounting principle, net of income tax (2)	1,959		—		(2,727)		(3,167)		—		(3,935)
Balance at January 1, 2021	7,280		108		(2,727)		(3,167)		(8)		1,486
OCI before reclassifications	(2,898)		170		(636)		1,234		1		(2,129)
Deferred income tax benefit (expense) (3)	608		(36)		134		(259)		—		447
AOCI before reclassifications, net of income tax	4,990		242		(3,229)		(2,192)		(7)		(196)
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	4,996		233		(3,229)		(2,192)		(7)		(199)
OCI before reclassifications	(14,148)		329		2,344		4,060		(22)		(7,437)
Deferred income tax benefit (expense) (3)	2,951		(50)		(492)		(852)		4		1,561
AOCI before reclassifications, net of income tax	(6,201)		512		(1,377)		1,016		(25)		(6,075)
Amounts reclassified from AOCI	202		(21)		—		—		—		181
Deferred income tax benefit (expense) (3)	(42)		5		—		—		—		(37)
Amounts reclassified from AOCI, net of income tax	160		(16)		—		—		—		144
Balance at December 31, 2022	(6,041)		496		(1,377)		1,016		(25)		(5,931)
OCI before reclassifications	2,109		(273)		(637)		(376)		18		841
Deferred income tax benefit (expense) (3)	(443)		58		134		79		(4)		(176)
AOCI before reclassifications, net of income tax	(4,375)		281		(1,880)		719		(11)		(5,266)
Amounts reclassified from AOCI	204		(11)		—		—		—		193
Deferred income tax benefit (expense) (3)	(43)		2		—		—		—		(41)
Amounts reclassified from AOCI, net of income tax	161		(9)		—		—		—		152
Balance at December 31, 2023	$	(4,214)	$	272	$	(1,880)	$	719	$	(11)	$	(5,114)

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(1)See Note 9 for information on offsets to investments related to future policy benefits.

(2)See Notes 1 and 2 for information on the adoption of ASU 2018-12.

(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 (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,
	2023		2022		2021
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains(losses)	$	(192)	$	(182)	$	(4)	Net investment gains (losses)
Net unrealized investment gains (losses)	(12)		(20)		(3)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(204)		(202)		(7)
Income tax (expense) benefit	43		42		1
Net unrealized investment gains (losses), net of income tax	(161)		(160)		(6)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	1		5		2		Net derivative gains (losses)
Interest rate swaps	3		4		3		Net investment income
Foreign currency swaps	7		12		7		Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax	11		21		12
Income tax (expense) benefit	(2)		(5)		(3)
Gains (losses) on cash flow hedges, net of income tax	9		16		9
Total reclassifications, net of income tax	$	(152)	$	(144)	$	3