Brighthouse Financial Inc 2025年季度报告

FORM10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune30, 2025 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number:001-37905 Brighthouse Financial, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) (Address of principal executive offices) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or for suchshorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.YesþNo¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter)during the preceding 12months (or for such shorter period that the registrant was required to submit such files).YesþNo¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitionsof “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerþNon-accelerated filer¨ Accelerated filer¨Smaller reporting company☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐Noþ As of August 4, 2025,57,152,371shares of the registrant’s common stock were outstanding. Table of Contents Item 1.Consolidated Financial Statements (at June30, 2025 (Unaudited) and December31, 2024 and for the Three Monthsand Six Months Ended June30, 2025 and 2024 (Unaudited)):Interim Condensed Consolidated Balance SheetsInterim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)Interim Condensed Consolidated Statements of EquityInterim Condensed Consolidated Statements of Cash FlowsNotes to the Interim Condensed Consolidated Financial Statements (Unaudited):Note 1 — Business, Basis of Presentation and Summary of Significant Accounting PoliciesNote 2 — Segment InformationNote 3 — Insurance LiabilitiesNote 4 — Market Risk BenefitsNote 5 — Separate AccountsNote 6 — Deferred Policy Acquisition Costs, Value of Business Acquired and Other IntangiblesNote 7 — InvestmentsNote 8 — DerivativesNote 9 — Fair ValueNote 10 — EquityNote 11 — Other Revenues and Other ExpensesNote 12 — Earnings Per Common ShareNote 13 — Contingencies, Commitments and GuaranteesItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPart II — Other InformationItem 1.Legal Proceedings Item 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem 6.ExhibitsSignature Brighthouse Financial, Inc. Interim Condensed Consolidated Balance SheetsJune30, 2025 (Unaudited) and December31, 2024 (In millions, except share and per share data) Brighthouse Financial, Inc. Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)For the Three Months and Six Months Ended June30, 2025 and 2024 (Unaudited) (In millions, except per share data) Brighthouse Financial, Inc. Interim Condensed Consolidated Statements of EquityFor the Three Months and Six Months Ended June30, 2025 and 2024 (Unaudited) Brighthouse Financial, Inc. Interim Condensed Consolidated Statements of Cash FlowsFor the Six Months Ended June30, 2025 and 2024 (Unaudited) (In millions) Brighthouse Financial, Inc. Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) 1. Business, Basis of Presentation and Summary of Significant Accounting Policies Business Brighthouse Financial, Inc. (“BHF” and, together with its subsidiaries, “Brighthouse Financial” or the “Company”) is a holdingcompany formed in 2016 to own the legal entities that historically operated a substantial portion of MetLife, Inc.’s former retail segmentuntil becoming a separate, publicly-traded company in August 2017. Brighthouse Financial is one of the largest providers of annuity andlife insurance products in the U.S. through multiple independent distribution channels and marketing arrangements with a diverse networkof distribution partners. The Company is organized into the following r