BRIGHTHOUSE LIFE INSURANCE Co OF NY

CIK:0001167609|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Premiums	$ 1	$ 1	$ 4	$ 6
Universal life and investment-type product policy fees	22	27	47	52
Net investment income	45	39	88	76
Other revenues	(20)	(26)	(43)	(49)
Net investment gains (losses)	(2)	(1)	(9)	0
Net derivative gains (losses)	(44)	29	(84)	(56)
Total revenues	2	69	3	29
Expenses
Policyholder benefits and claims	10	(8)	17	(14)
Interest credited to policyholder account balances	13	11	25	24
Amortization of deferred policy acquisition costs	19	1	20	(2)
Other expenses	17	21	36	40
Total expenses	59	25	98	48
Income (loss) before provision for income tax	(57)	44	(95)	(19)
Provision for income tax expense (benefit)	(13)	8	(22)	(6)
Net income (loss)	(44)	36	(73)	(13)
Comprehensive income (loss)	$ (248)	$ 107	$ (504)	$ (76)

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Net cash provided by (used in) operating activities	$ (22)	$ (61)
Cash flows from investing activities
Sales, maturities and repayments of fixed maturity securities	583	195
Sales, maturities and repayments of mortgage loans	25	48
Purchases of fixed maturity securities	(568)	(810)
Purchases of equity securities	(1)	0
Purchases of mortgage loans	(360)	(37)
Cash received in connection with freestanding derivatives	86	297
Cash paid in connection with freestanding derivatives	(345)	(49)
Net change in short-term investments	13	71
Net cash provided by (used in) investing activities	(567)	(285)
Cash flows from financing activities
Policyholder account balances: Deposits	494	506
Policyholder account balances: Withdrawals	(49)	(59)
Net change in payables for collateral under derivative transactions	(182)	93
Short-term debt issued	125	0
Capital contribution	100	0
Financing element on certain derivative instruments and other derivative related transactions, net	5	0
Net cash provided by (used in) financing activities	493	540
Change in cash, cash equivalents and restricted cash	(96)	194
Cash, cash equivalents and restricted cash, beginning of period	535	275
Cash, cash equivalents and restricted cash, end of period	439	469
Supplemental disclosures of cash flow information
Net cash paid (received) for income tax	$ 2	$ 0

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $4,441 and $4,464, respectively; allowance for credit losses of $0 and $0, respectively)	$ 4,024	$ 4,697
Equity Securities, FV-NI	4	3
Mortgage loans (net of allowance for credit losses of $4 and $2, respectively)	1,145	811
Short-term investments, principally at estimated fair value	0	13
Other invested assets, principally at estimated fair value	187	342
Total investments	5,360	5,866
Cash and cash equivalents	439	535
Accrued investment income	35	56
Premiums, reinsurance and other receivables	1,029	1,122
Deferred policy acquisition costs	290	224
Deferred income tax asset	101	0
Other assets	22	26
Separate account assets	4,059	5,149
Total assets	11,335	12,978
Liabilities
Future policy benefits	828	846
Policyholder account balances	4,369	4,360
Other policy-related balances	19	12
Payables for collateral under derivative transactions	149	331
Short-term Debt	125	0
Current income tax payable	104	35
Deferred income tax liability	0	107
Other liabilities	935	987
Separate account liabilities	4,059	5,149
Total liabilities	10,588	11,827
Contingencies, Commitments and Guarantees (Note 10)
Stockholder’s Equity
Common stock, par value $10 per share; 200,000 shares authorized, issued and outstanding	2	2
Additional paid-in capital	591	491
Retained earnings (deficit)	450	523
Accumulated other comprehensive income (loss)	(296)	135
Total stockholder’s equity	747	1,151
Total liabilities and stockholder’s equity	$ 11,335	$ 12,978