Voya 2013 Annual Report Download - page 278

ING U.S., Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The following table summarizes these intent impairments, which are also recognized in earnings, by type for the
periods indicated:
Years Ended December 31,
2013 2012 2011
Impairment
No. of
Securities Impairment
No. of
Securities Impairment
No. of
Securities
U.S. corporate $ — — $1.1 2 $ 55.2 40
Foreign(1) — — 1.5 4 59.0 56
Residential mortgage-backed 6.6 22 3.3 10 7.9 27
Commercial mortgage-backed 0.6 3 1.7 1 124.3 26
Other asset-backed 7.3 2 0.2 1 183.8 118
Total $14.5 27 $7.8 18 $430.2 267
(1) Primarily U.S. dollar denominated.
The Company may sell securities during the period in which fair value has declined below amortized cost for
fixed maturities or cost for equity securities. In certain situations, new factors, including changes in the business
environment, can change the Company’s previous intent to continue holding a security. Accordingly, these
factors may lead the Company to record additional intent related capital losses.
The following table identifies the amount of credit impairments on fixed maturities for which a portion of the
OTTI loss was recognized in Other comprehensive income (loss) and the corresponding changes in such amounts
for the periods indicated:
Years Ended December 31,
2013 2012 2011
Balance at January 1 $114.7 $133.9 $ 304.6
Additional credit impairments:
On securities not previously impaired 3.5 9.5 10.3
On securities previously impaired 8.1 17.1 17.0
Reductions:
Securities intent impaired — — (38.2)
Securities sold, matured, prepaid or paid down (23.5) (45.8) (159.8)
Balance at December 31 $102.8 $114.7 $ 133.9
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