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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $86,565 and $86,129, respectively; allowance for credit losses of $79 and $21, respectively) $ 79,129 $ 80,085
Equity securities, at estimated fair value 32 66
Mortgage loans (net of allowance for credit losses of $178 and $137, respectively) 23,254 22,475
Policy loans 1,626 938
Limited partnerships and limited liability companies 4,827 4,946
Short-term investments, principally at estimated fair value 1,157 574
Other invested assets, principally at estimated fair value (net of allowance for credit losses of $0 and $13, respectively) 5,244 4,411
Total investments 115,269 113,495
Cash and cash equivalents 4,592 3,165
Accrued investment income 1,261 1,163
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively) 20,809 19,389
Deferred policy acquisition costs and value of business acquired 4,374 4,487
Current income tax recoverable 51 24
Deferred income tax asset 1,823 1,833
Market risk benefit assets 1,092 656
Other assets 314 302
Separate account assets 79,006 81,690
Total assets 228,591 226,204
Liabilities    
Future policy benefits 31,085 32,149
Policyholder account balances 87,162 80,193
Market risk benefit liabilities 8,346 10,344
Other policy-related balances 3,677 3,619
Payables for collateral under securities loaned and other transactions 3,874 3,660
Long-term debt 833 836
Other liabilities 8,460 7,772
Separate account liabilities 79,006 81,690
Total liabilities 222,443 220,263
Contingencies, Commitments and Guarantees (Note 15)
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 17,507 17,507
Retained earnings (deficit) (6,286) (6,542)
Accumulated other comprehensive income (loss) (5,163) (5,114)
Total Brighthouse Life Insurance Company’s stockholder’s equity 6,133 5,926
Noncontrolling interests 15 15
Total equity 6,148 5,941
Total liabilities and equity $ 228,591 $ 226,204