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Brighthouse Financial, Inc. (BHF) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

BHF Quarterly Reports

Brighthouse Financial, Inc.

CIK: 1685040 Ticker: BHF
PUBLIC RELATIONS

Brighthouse Financial, Inc.
11225 N. Community House Rd.
Charlotte, NC 28277

bhf-20191104_g1a.jpg

Exhibit 99.1
FOR IMMEDIATE RELEASE
Brighthouse Financial Announces Second Quarter 2022 Results
Estimated combined risk-based capital ("RBC") ratio between 470% and 490%; holding company liquid assets of $1.2 billion
The company repurchased $317 million of its common stock year-to-date through August 3, 2022
Annuity sales increased 8% over the second quarter of 2021
Life sales decreased 27% over the second quarter of 2021
Second quarter 2022 net income available to shareholders of $957 million, or $12.77 per diluted share
Second quarter 2022 adjusted earnings, less notable items*, of $247 million, or $3.29 per diluted share

CHARLOTTE, NC, August 4, 2022 — Brighthouse Financial, Inc. ("Brighthouse Financial" or the "company") (Nasdaq: BHF) announced today its financial results for the second quarter ended June 30, 2022.

Second Quarter 2022 Results

The company reported net income available to shareholders of $957 million in the second quarter of 2022, or $12.77 per diluted share, compared with net income available to shareholders of $10 million in the second quarter of 2021. During the quarter, as a result of market performance, the value of our hedges increased, as expected. Due to being accounted for as insurance liabilities as required under U.S. GAAP accounting, certain corresponding liabilities are less sensitive to market movements and, therefore, did not fully offset the increase in the value of our hedges.

The company ended the second quarter of 2022 with common stockholders' equity ("book value") of $8.5 billion, or $116.21 per common share, and book value, excluding accumulated other comprehensive income ("AOCI") of $11.6 billion, or $158.51 per common share.

For the second quarter of 2022, the company reported adjusted earnings* of $24 million, or $0.33 per diluted share, compared with adjusted earnings of $435 million, or $5.05 per diluted share, in the second quarter of 2021.




_______________
* Information regarding the non-GAAP and other financial measures included in this news release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures are provided in the Non-GAAP and Other Financial Disclosures discussion below, as well as in the tables that accompany this news release and/or the Second Quarter 2022 Brighthouse Financial, Inc. Financial Supplement and/or the Second Quarter 2022 Brighthouse Financial, Inc. Earnings Call Presentation (which are available on the Brighthouse Financial Investor Relations webpage at http://investor.brighthousefinancial.com). Additional information regarding notable items can be found on the last page of this news release.
1



The following information was filed by Brighthouse Financial, Inc. (BHF) on Thursday, August 4, 2022 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Brighthouse Financial, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Brighthouse Financial, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Operations And Comprehensive Income (Unaudited)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies
Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Contingencies, Commitments And Guarantees
Contingencies, Commitments And Guarantees (Contingencies, Commitments And Guarantees - Narrative) (Details)
Derivatives
Derivatives (Credit Derivatives) (Details)
Derivatives (Credit Risk On Freestanding Derivatives) (Details)
Derivatives (Derivatives - Narrative) (Details)
Derivatives (Derivatives Pertaining To Hedged Items) (Details)
Derivatives (Estimated Fair Value Of Derivatives Assets And Liabilities After Master Netting Agreements And Cash Collateral) (Details)
Derivatives (Primary Risks Managed By Derivatives) (Details)
Derivatives (Tables)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Equity
Equity (Common Stock Repurchase Program - Narrative) (Details)
Equity (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity (Preferred Stock Authorized, Issued And Outstanding) (Details)
Equity (Preferred Stock Dividends) (Details)
Equity (Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity (Tables)
Fair Value
Fair Value (Assets And Liabilities Measured - Quantitative Information) (Details)
Fair Value (Financial Instruments Carried At Other Than Fair Value) (Details)
Fair Value (Recurring Fair Value Measurements) (Details)
Fair Value (Tables)
Fair Value (Unobservable Input Reconciliation) (Details)
Insurance
Insurance (Guarantees Related To Annuity Contracts) (Details)
Insurance (Guarantees Related To Universal And Variable Life Contracts) (Details)
Insurance (Tables)
Investments
Investments (Changes In Net Unrealized Investment Gains (Losses)) (Details)
Investments (Components Of Net Investment Gains (Losses) - Narrative) (Details)
Investments (Components Of Net Investment Gains (Losses)) (Details)
Investments (Continuous Gross Unrealized Losses For Fixed Maturity Securities By Sector) (Details)
Investments (Credit Quality Of Mortgage Loans By Portfolio Segment) (Details)
Investments (Fixed Maturity Securities - Narrative) (Details)
Investments (Fixed Maturity Securities By Sector) (Details)
Investments (Invested Assets On Deposit, Held In Trust And Pledged As Collateral - Narrative) (Details)
Investments (Invested Assets On Deposit, Held In Trust And Pledged As Collateral) (Details)
Investments (Maturities Of Fixed Maturity Securities) (Details)
Investments (Mortgage Loans - Narrative) (Details)
Investments (Mortgage Loans By Portfolio Segment) (Details)
Investments (Mortgage Loans In Nonaccrual Status By Portfolio Segment) (Details)
Investments (Net Investment Income - Narrative) (Details)
Investments (Net Investment Income) (Details)
Investments (Net Unrealized Investment Gains (Losses)) (Details)
Investments (Other Invested Assets - Narrative) (Details)
Investments (Past Due Mortgage Loans By Portfolio Segment) (Details)
Investments (Rollforward Of The Allowance For Credit Losses For Mortgage Loans By Portfolio Segment) (Details)
Investments (Sales Or Disposals Of Fixed Maturity Securities) (Details)
Investments (Securities Lending - Narrative) (Details)
Investments (Securities Lending Remaining Tenor) (Details)
Investments (Securities Lending) (Details)
Investments (Tables)
Investments (Variable Interest Entities) (Details)
Long-Term Debt
Long-Term Debt (Details)
Other Revenues And Other Expenses
Other Revenues And Other Expenses (Other Expenses) (Details)
Other Revenues And Other Expenses (Other Revenues - Narrative) (Details)
Other Revenues And Other Expenses (Tables)
Segment Information
Segment Information (Assets) (Details)
Segment Information (Narrative) (Details)
Segment Information (Operating Results) (Details)
Segment Information (Reconciliation Of Operating Revenues To Total Revenues) (Details)
Segment Information (Tables)

Material Contracts, Statements, Certifications & more

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

Ticker: BHF
CIK: 1685040
Form Type: 10-Q Quarterly Report
Accession Number: 0001685040-22-000045
Submitted to the SEC: Fri Aug 05 2022 4:17:57 PM EST
Accepted by the SEC: Fri Aug 05 2022
Period: Thursday, June 30, 2022
Industry: Life Insurance

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