Voya 2013 Annual Report Download - page 127

The following table summarizes the relative contributions of each segment to Operating earnings before
income taxes for the periods indicated, and a reconciliation of Operating earnings before income taxes to Income
(loss) before income taxes:
Years Ended December 31,
($ in millions) 2013 2012 2011
Retirement Solutions:
Retirement ........................................ $ 595.8 $ 448.6 $ 441.9
Annuities ......................................... 293.8 102.2 387.6
Investment Management ................................. 178.1 134.5 87.5
Insurance Solutions:
Individual Life ..................................... 254.8 196.2 279.3
Employee Benefits .................................. 106.1 109.4 83.3
Total Ongoing Business .................................. 1,428.6 990.9 1,279.6
Corporate ......................................... (210.6) (182.3) (230.2)
Closed Blocks:
Closed Block Institutional Spread Products .............. 35.9 45.7 83.2
Closed Block Other ................................. 14.7 64.0 (13.0)
Total Closed Blocks(1) ................................... 50.6 109.7 70.2
Total operating earnings before income taxes ................. 1,268.6 918.3 1,119.6
Adjustments:
Closed Block Variable Annuity ........................ (1,209.3) (692.3) (564.5)
Net investment gains (losses) and related charges and
adjustments ..................................... 212.1 455.5 71.8
Net guaranteed benefit hedging gains (losses) and related
charges and adjustments ........................... 19.4 97.2 (269.4)
Loss related to businesses exited through reinsurance or
divestment ...................................... (59.8) (45.8) (35.1)
Income (loss) attributable to noncontrolling interests ....... 190.1 138.2 190.9
Immediate recognition of net actuarial gains (losses) related
to pension and other postretirement benefit obligations and
gains (losses) from plan amendments and curtailments . . . 405.2 (165.0) (157.8)
Other adjustments to operating earnings ................. (68.2) (100.1) (77.7)
Income (loss) before income taxes ......................... $ 758.1 $ 606.0 $ 277.8
(1) Our CBVA segment is managed to focus on protecting regulatory and rating agency capital rather than
achieving operating metrics and, therefore, its results of operations are not reflected within Operating
earnings before income taxes.
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