Brighthouse Financial BHF Balance Sheet Statement

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Cash and cash equivalents	$4.91B+5.1%	$5.39B+6.8%	$6.61B+17.3%	$5.54B+24.7%	$4.67B+22.1%
Short-term investments	$1.24B-21.2%	$1.2B-35.9%	$778M—	$1.17B—	$1.57B—
Income taxes receivable	$16M-20.0%	$16M-15.8%	$17M-39.3%	$17M-39.3%	$20M-28.6%
Trading assets	$5.52B+30.0%	——	$4.66B+9.9%	$4.34B+15.9%	$4.24B+28.9%
Accrued investment income	$1.3B+2.8%	$1.26B-1.3%	$1.35B-35.2%	$1.24B+5.6%	$1.27B-2.3%
Derivative assets	$1.5B-65.4%	——	$7.33B+133%	$7.46B+140%	$4.33B+20.2%
Deferred tax assets	$1.78B-1.5%	$1.44B-23.1%	$1.53B-11.9%	$1.7B-18.8%	$1.81B-12.4%
Other non-current assets	$324M-11.0%	$332M-10.3%	$342M+5.6%	$348M-13.9%	$364M+4.3%
Long-term investments	$1.24B-98.9%	$1.2B-99.0%	$120.88B+6,571%	$120.75B+8,587%	$117.26B+8,605%
Available-for-sale securities	$19.74B+2.7%	$82.01B+2.4%	$19.2B+2.4%	$19.6B+8.6%	$19.21B+10.9%
Allowance for credit losses	$65M+16.1%	$64M-21.0%	$64M+4.9%	$67M+48.9%	$56M+107%
Equity securities	$76M+4.1%	$79M+2.6%	$78M-10.3%	$74M-12.9%	$73M-15.1%
Mortgage loans	$22.62B-1.9%	$22.76B-2.3%	$22.86B-0.3%	$22.99B+1.6%	$23.05B+1.7%
Deferred policy acquisition costs	$4.52B-3.3%	$4.57B-3.0%	$4.6B-3.0%	$4.64B-3.2%	$4.67B-3.3%
Reinsurance recoverables	$3M0.0%	$3M0.0%	$3M0.0%	$3M0.0%	$3M0.0%
Separate account assets	$80.82B-2.1%	$85.53B-0.1%	$87.13B-3.5%	$86.09B-2.5%	$82.52B-8.6%
Policy loans	$1.46B+1.5%	$1.45B-28.4%	$1.44B+3.7%	$1.43B-3.1%	$1.44B-13.0%
Total assets	$236.8B+0.9%	$241.8B+1.4%	$244.68B-0.2%	$242.65B+2.2%	$234.68B-2.1%
Other current liabilities	$0—	$0—	$0—	$0-100%	$0-100%
Derivative liabilities	$10.67B+417%	$12.41B+436%	$1.17B+9.1%	$1.12B-27.8%	$2.07B+10.3%
Securities loaned	$314M-39.4%	——	$379M-39.3%	$444M-26.7%	$518M-8.8%
Long-term debt	$3.15B0.0%	$3.16B0.0%	$3.16B0.0%	$3.16B0.0%	$3.16B0.0%
Other non-current liabilities	$11.83B+27.0%	$9.65B+5.3%	$10.45B+23.8%	$11.63B+51.8%	$9.31B+2.1%
Reserve for insurance claims	$31.77B-0.2%	$32.03B+1.7%	$32.02B-2.3%	$31.97B+0.3%	$31.83B-1.3%
Future policy benefits	$31.77B-0.2%	——	$32.02B-2.3%	$31.97B+0.3%	$31.83B-1.3%
Policyholder account balances	$86.38B+0.9%	——	$88.7B+1.2%	$88.05B+2.5%	$85.62B+1.7%
Separate account liabilities	$80.82B-2.1%	$85.53B-0.1%	$87.13B-3.5%	$86.09B-2.5%	$82.52B-8.6%
Total liabilities	$27.09B-88.2%	$25.7B-89.0%	$238.25B-0.5%	$236.91B+1.6%	$229.38B-2.6%
Preferred stock	$0—	$0—	$0—	$0—	$0—
Common stock	1B0.0%	1B+99,900%	1B0.0%	1B0.0%	1B0.0%
Additional paid-in capital	$13.87B-0.5%	$13.87B-0.4%	$13.89B-0.4%	$13.92B-0.4%	$13.94B-0.4%
Retained earnings	-$1.45B-4.7%	-$686M+38.7%	-$823M+54.0%	-$1.3B+33.8%	-$1.39B+30.7%
Accumulated other comprehensive income (loss)	-$4.16B+11.0%	-$3.73B+29.3%	-$4.02B+2.6%	-$4.26B+21.4%	-$4.67B+13.7%
Treasury stock	$2.7B+2.1%	$2.69B+4.5%	$2.69B+7.0%	$2.69B+9.8%	$2.64B+11.0%
Noncontrolling interests	$65M0.0%	$65M0.0%	$65M0.0%	$65M0.0%	$65M0.0%
Total stockholders' equity	$5.56B+6.2%	$6.77B+36.5%	$6.36B+15.2%	$5.67B+37.0%	$5.24B+24.9%
Total liabilities and stockholders' equity	$236.8B+0.9%	$241.8B+1.4%	$244.68B-0.2%	$242.65B+2.2%	$234.68B-2.1%
Available-for-Sale Debt Securities - Amortized Cost	$5.53B+29.7%	——	$4.69B+10.2%	$4.37B+15.2%	$4.27B+27.9%
Available-for-Sale Debt Securities - Amortized Cost (Due Within One Year)	$5.53B+29.7%	——	$4.69B+10.2%	$4.37B+15.2%	$4.27B+27.9%
Available-for-Sale Debt Securities - Unrealized Loss Position (>=12 Months)	4.9K-4.4%	5.1K-3.4%	5.1K-7.4%	5K-23.8%	5.1K-23.7%
AFS and Trading Securities - Unrealized Loss Position (>=12 Months)	$36.33B-0.7%	$38.36B+3.4%	$37.94B-7.8%	$35.57B-24.4%	$36.59B-25.7%
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value	$18.88B+0.8%	$8.11B-61.2%	$9.7B-3.6%	$15.35B+4.9%	$18.74B+59.7%
Available-for-Sale Debt Securities - Unrealized Loss Position (<12 Months)	$18.88B+0.8%	$8.11B-61.2%	$9.7B-3.6%	$15.35B+4.9%	$18.74B+59.7%
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Fair Value	$36.33B-0.7%	$38.36B+3.4%	$37.94B-7.8%	$35.57B-24.4%	$36.59B-25.7%
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value	$18.88B+0.8%	$8.11B-61.2%	$9.7B-3.6%	$15.35B+4.9%	$18.74B+59.7%
Premiums And Other Receivables Net	$20.83B-1.7%	$21.58B+2.1%	$21.24B+2.7%	$21.26B+6.1%	$21.19B+4.7%
Derivative Assets - Fair Value	$8.81B+103%	$6.58B+58.8%	$7.33B+133%	$7.46B+140%	$4.33B+20.2%
Derivative Assets - Net Reduction from Master Netting Arrangements	$6.23B+77.6%	$3.86B+27.0%	$5.11B+89.1%	$6.14B+148%	$3.51B+6.0%
Other Receivables	$20.83B-1.7%	$21.58B+2.1%	$21.24B+2.7%	$21.26B+6.1%	$21.19B+4.7%
Available-for-Sale Debt Securities - Fair Value (Maturing 1 to 5 Years)	$20.22B+2.9%	——	$19.45B+2.6%	$19.92B+6.5%	$19.65B+9.6%
Available-for-Sale Debt Securities - Fair Value (No Single Maturity Date)	$21.65B+2.0%	——	$21.19B-2.2%	$21.36B-3.5%	$21.21B-3.1%
Investments - Amortized Cost Basis	$87.21B+0.2%	$87.05B-0.6%	$86.56B-1.5%	$86.76B-1.6%	$87.07B-0.6%
Allowance For Loan And Lease Losses Real Estate	$210M+0.5%	$200M+12.4%	$205M+22.8%	$209M+34.8%	$209M+47.2%
Deferred tax assets	$1.78B-1.5%	$1.44B-23.1%	$1.53B-11.9%	$1.7B-18.8%	$1.81B-12.4%
Investments	$121.46B+3.6%	$120.63B+2.8%	$120.88B+1.7%	$120.75B+4.7%	$117.26B+1.2%
Other Assets	$324M-11.0%	$332M-10.3%	$342M+5.6%	$348M-13.9%	$364M+4.3%
Net real estate investments	$4.67B-3.4%	$4.7B-2.7%	$4.82B-1.1%	$4.8B-2.8%	$4.84B-1.6%
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2026, $85; 2025, $84)	$1.24B—	$1.2B-35.9%	——	——	——
Trading account securities	$544M+49.0%	$506M—	$528M—	$520M—	$365M—
Other Investments	$9.62B+82.0%	$7.93B+51.1%	$8.84B+98.2%	$8.93B+113%	$5.28B+11.3%
Derivative Liabilities - Fair Value	$8.21B+47.3%	$5.1B-4.7%	$6.28B+66.4%	$7.27B+80.1%	$5.57B+7.5%
Derivative Liabilities - Not Offset Policy Election Deduction	$6.23B+77.6%	$3.86B+27.0%	$5.11B+89.1%	$6.14B+148%	$3.51B+6.0%
Derivative Liabilities Offset	$6.23B+77.6%	$3.86B+27.0%	$5.11B+89.1%	$6.14B+148%	$3.51B+6.0%
Reserve for Incurred But Not Reported (IBNR) Claims	$3.99B+3.3%	$3.89B+0.4%	$3.92B+1.7%	$3.98B+4.8%	$3.87B+1.8%
Obligation to Return Securities Received as Collateral	$4.66B+19.4%	$4.71B+20.9%	$4.35B+15.5%	$3.99B+2.3%	$3.9B+6.9%
Debt Maturity - 5 to 10 Years	$12.53B+2.6%	——	$12.51B-3.7%	$11.93B-6.2%	$12.22B-7.9%
Debt Maturity - Over 10 Years	$26.8B-6.9%	——	$28.29B-3.0%	$28.57B-3.0%	$28.77B-3.4%
Market risk benefits	$8.56B-6.6%	$8.06B-3.2%	$8.53B-11.0%	$8.05B-7.5%	$9.17B+2.2%
Policyholders' account balances	$86.38B+0.9%	——	$88.7B+1.2%	$88.05B+2.5%	$85.62B+1.7%
Other Secured Financings	$3.22B-1.2%	$3.23B+0.5%	$3.27B0.0%	$3.3B+0.7%	$3.25B+2.0%
Total debt	$3.15B0.0%	$3.16B0.0%	$3.16B0.0%	$3.16B0.0%	$3.16B0.0%
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Accumulated Loss	$5.8B-0.2%	$5.28B-18.8%	$5.21B+4.2%	$5.57B-22.5%	$5.82B-17.9%
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Accumulated Loss	2.8K-15.2%	1.3K-60.5%	1.6K-26.0%	2.6K+19.2%	3.3K+82.2%
Common Stock Par Value Per Share	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%
Common Stock Shares Issued	124.5M+0.4%	124.1M+0.5%	124.1M+0.5%	124M+0.5%	124M+0.5%
Convertible Preferred Stock Authorized Shares	100M0.0%	100M0.0%	100M0.0%	100M0.0%	100M0.0%
Convertible Preferred Stock Issued Shares	70.1K0.0%	70.1K0.0%	70.1K0.0%	70.1K0.0%	70.1K0.0%
Convertible Preferred Stock Outstanding Shares	70.1K0.0%	70.1K0.0%	70.1K0.0%	70.1K0.0%	70.1K0.0%
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$1M0.0%	$1M0.0%	$1M0.0%	$1M0.0%	$1M0.0%
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding	$0—	$0—	$0—	$0—	$0—
Treasury Stock, Value	$2.7B+2.1%	$2.69B+4.5%	$2.69B+7.0%	$2.69B+9.8%	$2.64B+11.0%
Preferred Stock Liquidation Preference Value	$1.75B0.0%	$1.75B0.0%	$1.75B0.0%	$1.75B0.0%	$1.75B0.0%
Preferred Stock Par Value Per Share	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%
Unrealized Gains on Investments	$645M-5.1%	$963M+93.4%	$976M-24.9%	$786M+38.1%	$680M-6.1%
Unrealized Losses on Investments (Before Tax)	$6.55B-7.1%	$5.93B-25.5%	$5.94B+2.8%	$6.65B-18.1%	$7.05B-9.3%
Aggregate Notional Principal Outstanding	$350.97B+29.3%	$304.73B+9.8%	$346.81B+45.6%	$289.55B+46.5%	$271.38B+49.3%
Credit Derivative Maximum Exposure	$1.13B+44.6%	$468M-40.0%	$478M-56.3%	$1.23B+12.2%	$780M-44.5%
Cumulative Cost Basis	$87.21B+0.2%	$87.05B-0.6%	$86.56B-1.5%	$86.76B-1.6%	$87.07B-0.6%
Derivative Notional Amount	$350.97B+29.3%	$304.73B+9.8%	$346.81B+45.6%	$289.55B+46.5%	$271.38B+49.3%
Fair Value Measurement Disclosure	$7.86B+48.7%	$5.23B-0.3%	$6.55B+63.7%	$7.4B+79.2%	$5.29B-1.6%
Gross Assets/Liabilities	$7.86B+48.7%	$5.23B-0.3%	$6.55B+63.7%	$7.4B+79.2%	$5.29B-1.6%
Guarantor Obligations - Maximum Exposure	$83M0.0%	——	$83M0.0%	$82M-5.7%	$83M-15.3%
Indemnification Liability Maximum Exposure	$83M0.0%	——	$83M0.0%	$82M-5.7%	$83M-15.3%
Balance in trust account	$7.01B-11.5%	$7.33B-11.4%	$7.76B+1.0%	$8.54B+18.6%	$7.92B+10.8%
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	$6.55B-7.1%	$5.93B-25.5%	$5.94B+2.8%	$6.65B-18.1%	$7.05B-9.3%
Gross Unrealized Gains	$645M-5.1%	$963M+93.4%	$976M-24.9%	$786M+38.1%	$680M-6.1%
Total	$87.21B+0.2%	$87.05B-0.6%	$86.56B-1.5%	$86.76B-1.6%	$87.07B-0.6%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10	$13.01B-1.2%	——	$12.95B-6.2%	$12.56B-10.9%	$13.18B-9.9%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10	$12.53B+2.6%	——	$12.51B-3.7%	$11.93B-6.2%	$12.22B-7.9%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$20.22B+2.9%	——	$19.45B+2.6%	$19.92B+6.5%	$19.65B+9.6%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$19.74B+2.7%	——	$19.2B+2.4%	$19.6B+8.6%	$19.21B+10.9%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10	$26.8B-6.9%	——	$28.29B-3.0%	$28.57B-3.0%	$28.77B-3.4%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10	$22.63B-8.9%	——	$24.79B-6.9%	$24.57B-3.4%	$24.84B-5.3%
Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Amortized Cost	$21.65B+2.0%	——	$21.19B-2.2%	$21.36B-3.5%	$21.21B-3.1%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$5.53B+29.7%	——	$4.69B+10.2%	$4.37B+15.2%	$4.27B+27.9%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$5.52B+30.0%	——	$4.66B+9.9%	$4.34B+15.9%	$4.24B+28.9%
Available for sale investments	$81.23B+0.7%	$82.01B+2.4%	$81.54B-2.1%	$80.84B+0.3%	$80.64B+0.2%
Common stock, par value (in dollars per share)	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%	$0.010.0%
Common stock, shares authorized (in shares)	$1B0.0%	$1B0.0%	$1B0.0%	$1B0.0%	$1B0.0%
Common stock, shares issued (in shares)	$124.54M+0.4%	$124.08M+0.5%	$124.06M+0.5%	$124.02M+0.5%	$123.98M+0.5%
Common Stock, Shares, Outstanding	$57.44M-0.7%	$57.17M-2.5%	$57.15M-4.5%	$57.12M-6.7%	$57.87M-7.6%
Credit Derivative, Maximum Exposure, Undiscounted	$1.13B+44.6%	$468M-40.0%	$478M-56.3%	$1.23B+12.2%	$780M-44.5%
Credit Risk Derivatives, at Fair Value, Net	$19M+18.8%	$11M-42.1%	$11M-45.0%	$28M+40.0%	$16M-44.8%
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$65M+16.1%	$64M-21.0%	$64M+4.9%	$67M+48.9%	$56M+107%
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$5.8B-0.2%	$5.28B-18.8%	$5.21B+4.2%	$5.57B-22.5%	$5.82B-17.9%
Less than 12 months	$18.88B+0.8%	$8.11B-61.2%	$9.7B-3.6%	$15.35B+4.9%	$18.74B+59.7%
12 months or more	$36.33B-0.7%	$38.36B+3.4%	$37.94B-7.8%	$35.57B-24.4%	$36.59B-25.7%
Number of Securities, Greater than 12 months	$4.9K-4.4%	$5.09K-3.4%	$5.1K-7.4%	$4.96K-23.8%	$5.12K-23.7%
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$752M-39.3%	$649M-55.6%	$727M-6.2%	$1.08B+15.4%	$1.24B+79.0%