Brighthouse Financial, Inc. (BHF) 10-K Annual Report March 2018

— Brighthouse Financial, Inc. ("Brighthouse Financial") (Nasdaq: BHF) announced today its financial results for the fourth quarter ended December 31, 2017.

Fourth Quarter 2017 Results

The company reported net income of $668 million in the fourth quarter of 2017, or $5.58 on a per share basis, compared to a net loss of $1,765 million in the fourth quarter of 2016. The company ended the fourth quarter of 2017 with stockholders' equity ("book value") of $14.5 billion, or $121.19 on a per share basis, and book value, excluding accumulated other comprehensive income ("AOCI"), of $13.1 billion, or $109.71 on a per share basis.

For the fourth quarter of 2017, the company reported adjusted earnings* (previously reported as operating earnings) of $992 million, or $8.28 on a per share basis. Results for the fourth quarter included a $947 million favorable impact, or $7.91 on a per share basis, primarily related to the re-measurement of the company's net deferred tax liability due to the enactment of the Tax Cuts and Jobs Act ("tax reform") during the quarter. Excluding the impact of tax reform, adjusted earnings for the quarter would have been $45 million, or $0.37 on a per share basis.

Adjusted earnings for the quarter also included $152 million of net unfavorable notable items, or $1.27 on a per share basis, including:


•	$53 million in unfavorable reserve adjustments from recaptured business, partially offset by reserve refinements, in the company's universal life with secondary guarantees ("ULSG") book of business;


•	$47 million in establishment costs related to planned technology and branding investments;


•	$38 million increase in reserves related to certain legacy non-retail, group annuity contracts administered by the company's former parent; and


•	$14 million unfavorable impact from tax items related to the company's separation from its former parent.

Annuity sales increased 26 percent quarter-over-quarter and 25 percent sequentially, primarily driven by sales of Shield annuities, which increased 74 percent quarter-over-quarter and 22 percent sequentially.

The following information was filed by Brighthouse Financial, Inc. (BHF) on Monday, February 12, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Brighthouse Financial, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.9.2: Material Contract

Exhibit 10.11.1: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: BHF
CIK: 1685040
Form Type: 10-K Annual Report
Accession Number: 0001167609-18-000005
Submitted to the SEC: Thu Mar 15 2018 9:37:04 PM EST
Accepted by the SEC: Fri Mar 16 2018
Period: Sunday, December 31, 2017
Industry: Life Insurance

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Brighthouse Financial, Inc. (BHF) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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