The link below clearly explains why Brighthouse Financial's Reported Net Derivatives Gains and Losses are mismatched with the balance sheet amounts which under GAAP are not reported at Fair Values.
"During the quarter, as a result of significantly lower equity markets and lower interest rates, the value of our hedges, which the company uses to protect its balance sheet against adverse market conditions, increased, as expected, while corresponding liabilities are not reflected at fair value under U.S. GAAP accounting, and thus are less sensitive to market movements."
The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 for each of these 40 North Carolina Companies.
| US | US | |||
| GAAP | GAAP | |||
| Pretax | Pretax | |||
| Income | Income | |||
| (Loss) | (Loss) | Better | ||
| First | First | (Worse) | ||
| North Carolina Companies | Quarter | Quarter | % | |
| Stock Market Caps Above $1 Bil | City HQs | 2020 | 2019 | Change |
| mils $ | mils $ | |||
| Brighthouse Financial (BHF) | Charlotte | 6,252 | (953) | |
| Bank of America | Charlotte | 4,531 | 8,767 | |
| Honeywell Intl | Charlotte | 1,935 | 1,842 | |
| Lowes | Mooresville | 1,786 | 1,255 | |
| Truist Financial | Charlotte | 1,287 | 975 | |
| Duke Energy | Charlotte | 1,027 | 988 | |
| Highwoods Properties | Raleigh | 191 | 8 | |
| Old Dominion Freight Line | Thomasville | 181 | 180 | |
| Sealed Air | Charlotte | 147 | 95 | |
| Nucor Corp | Charlotte | 146 | 690 | |
| Albemarle | Charlotte | 115 | 154 | |
| IQVIA Holdings | Durham | 102 | 109 | |
| Premier Inc | Charlotte | 77 | 87 | |
| First Citizens Bancshares | Raleigh | 74 | 145 | |
| Curtiss-Wright | Davidson | 70 | 70 | |
| Qorvo | Greensboro | 65 | 50 | |
| Advance Auto Parts | Raleigh | 60 | 191 | |
| PRA Health Sciences | Raleigh | 58 | 72 | |
| Syneos Health | Morrisville | 42 | (20) | |
| BMC Stock Holdings | Raleigh | 29 | 26 | |
| SPX Corp | Charlotte | 29 | 5 | |
| Martin Marietta Materials | Raleigh | 26 | 38 | |
| Coca-Cola Bottling | Charlotte | 21 | (9) | |
| Enpro Industries | Charlotte | 18 | 11 | |
| LendingTree | Charlotte | 16 | (7) | |
| Extended Stay America | Charlotte | 9 | 35 | |
| JELD-WEN Holding | Charlotte | 1 | 26 | |
| SPX FLOW | Charlotte | (1) | 26 | |
| Bandwith | Raleigh | (4) | (6) | |
| Hanesbrands | Winston-Salem | (9) | 94 | |
| Kontoor Brands | Greensboro | (11) | 28 | |
| PPD Inc | Wilmington | (19) | (17) | |
| James River Group Hldgs Ltd | Chapel Hill | (41) | 25 | |
| Cree Inc | Durham | (64) | (20) | |
| Ingersall Rand | Davidson | (96) | 59 | |
| Dentsply Sirona | Charlotte | (130) | 54 | |
| CommScope Holdings | Hickory | (191) | (1) | |
| Sonic Automotive | Charlotte | (243) | 61 | |
| Laboratory Corp of America | Burlington | (268) | 255 | |
| V F Corp | Greensboro | (390) | 105 | |
| Total 39 North Carolina Cos Excluding BHF | 10,576 | 16,446 | -36% | |
| Total all 40 North Carolina Companies | 16,828 | 15,493 | 9% |
