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Segment Information (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment
Operating results by segment, as well as Corporate & Other, were as follows:
Three Months Ended June 30, 2024
AnnuitiesLifeRun-offCorporate
& Other
Total
(In millions)
Pre-tax adjusted earnings (loss)
$399 $39 $(37)$(13)$388 
Provision for income tax expense (benefit)75 (8)(8)68 
Post-tax adjusted earnings (loss)
324 30 (29)(5)320 
Less: Net income (loss) attributable to noncontrolling interests— — — 
Adjusted earnings (loss)
$324 $30 $(29)$(6)319 
Adjustments for:
Net investment gains (losses)(120)
Net derivative gains (losses), excluding investment hedge adjustments of $10
(674)
Change in market risk benefits357 
Market value adjustments
Provision for income tax (expense) benefit91 
Net income (loss) attributable to Brighthouse Life Insurance Company$(22)
Interest revenue$700 $110 $314 $162 
Interest expense$— $— $— $16 
Three Months Ended June 30, 2023
AnnuitiesLifeRun-offCorporate
& Other
Total
(In millions)
Pre-tax adjusted earnings (loss)
$338 $33 $(22)$(21)$328 
Provision for income tax expense (benefit)63 (5)(11)54 
Post-tax adjusted earnings (loss)
275 26 (17)(10)274 
Less: Net income (loss) attributable to noncontrolling interests— — — 
Adjusted earnings (loss)
$275 $26 $(17)$(11)273 
Adjustments for:
Net investment gains (losses)(65)
Net derivative gains (losses), excluding investment hedge adjustments of $22
(1,847)
Change in market risk benefits1,299 
Market value adjustments
Provision for income tax (expense) benefit127 
Net income (loss) attributable to Brighthouse Life Insurance Company$(210)
Interest revenue$630 $107 $317 $140 
Interest expense$— $— $— $18 
Six Months Ended June 30, 2024
AnnuitiesLifeRun-offCorporate
& Other
Total
(In millions)
Pre-tax adjusted earnings (loss)
$774 $(56)$(469)$(48)$201 
Provision for income tax expense (benefit)146 (12)(99)(21)14 
Post-tax adjusted earnings (loss)
628 (44)(370)(27)187 
Less: Net income (loss) attributable to noncontrolling interests— — — 
Adjusted earnings (loss)
$628 $(44)$(370)$(28)186 
Adjustments for:
Net investment gains (losses)(163)
Net derivative gains (losses), excluding investment hedge adjustments of $23
(2,620)
Change in market risk benefits1,795 
Market value adjustments10 
Provision for income tax (expense) benefit205 
Net income (loss) attributable to Brighthouse Life Insurance Company$(587)
Interest revenue$1,374 $206 $630 $312 
Interest expense$— $— $— $33 
Six Months Ended June 30, 2023
AnnuitiesLifeRun-offCorporate
& Other
Total
(In millions)
Pre-tax adjusted earnings (loss)
$700 $59 $(155)$(39)$565 
Provision for income tax expense (benefit)131 12 (33)(27)83 
Post-tax adjusted earnings (loss)
569 47 (122)(12)482 
Less: Net income (loss) attributable to noncontrolling interests— — — 
Adjusted earnings (loss)
$569 $47 $(122)$(13)481 
Adjustments for:
Net investment gains (losses)(161)
Net derivative gains (losses), excluding investment hedge adjustments of $61
(2,474)
Change in market risk benefits1,101 
Market value adjustments(5)
Provision for income tax (expense) benefit323 
Net income (loss) attributable to Brighthouse Life Insurance Company$(735)
Interest revenue$1,222 $196 $571 $279 
Interest expense$— $— $— $36 
Total assets by segment, as well as Corporate & Other, were as follows at:
June 30, 2024December 31, 2023
(In millions)
Annuities$159,098 $157,614 
Life20,383 20,363 
Run-off25,589 26,849 
Corporate & Other22,248 21,378 
Total$227,318 $226,204 
Reconciliation of Revenue from Segments to Consolidated
Total revenues by segment, as well as Corporate & Other, were as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
(In millions)
Annuities$1,205 $1,133 $2,401 $2,191 
Life245 258 408 506 
Run-off428 449 784 829 
Corporate & Other162 141 312 280 
Adjustments(794)(1,912)(2,783)(2,635)
Total$1,246 $69 $1,122 $1,171