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Brighthouse Financial (BHF) FY2022 results: revenue $6.9 billion, up 38.1% on the year

Brighthouse Financial, Inc. (BHF) reported revenue of $6.9 billion for fiscal 2022, the year ended 31 December 2022, up 38.1% on the year before. Net income was $3.9 billion, up 136.1%, and diluted earnings per share $51.30. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.

Revenue
$6.9 billion
+38.1% on the year
FY2015FY2022
Operating margin
68.8%
40.4% a year earlier
FY2015FY2022
Net income
$3.9 billion
+136.1% on the year
FY2015FY2022
Diluted EPS
$51.30
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue6,8734,9768,503+38.1%
Operating income4,7322,009-1,419+135.5%
Operating margin68.8%40.4%-16.7%
Interest expense153163184-6.1%
Pre-tax income4,7322,009-1,419+135.5%
Income tax848361-363+134.9%
Effective tax rate17.9%18.0%n/a
Net income3,8791,643-1,061+136.1%
Net margin56.4%33.0%-12.5%
Diluted EPS$51.30-$2.36-$11.58
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow-1,228641888
Cash from investing-8,276-12,238-5,843
Cash from financing9,14511,9636,186-23.6%
Share-based compensation22.023.021.0-4.3%
Buybacks488499473-2.2%
Diluted shares, weighted74m84m95m-12.2%
Shares outstanding at period end68m78m88m-12.3%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity5,53316,14218,023-65.7%
Non-controlling interest65.065.065.00.0%
Debt3,1563,1573,436-0.0%
Other liabilities216,093242,893226,345-11.0%
Total liabilities and equity224,847262,257247,869-14.3%
Investments1,0811,8413,242-41.3%
Cash and equivalents4,1154,4744,108-8.0%
Other assets219,651255,942240,519-14.2%
Total assets224,847262,257247,869-14.3%

10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.