Voya 2013 Annual Report Download - page 379

ING U.S., Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The summary below presents Total assets for the Company’s segments as of December 31, 2013 and 2012:
2013 2012
Retirement Solutions:
Retirement .............................. $ 92,336.7 $ 86,504.3
Annuities ............................... 26,528.3 27,718.6
Investment Management ....................... 463.3 498.5
Insurance Solutions:
Individual Life ........................... 25,592.2 25,319.0
Employee Benefits ....................... 2,518.5 2,657.0
Total Ongoing Businesses ...................... 147,439.0 142,697.4
Corporate ................................... 4,802.8 5,593.4
Closed Blocks:
Closed Block Variable Annuity ............. 49,483.5 49,157.6
Closed Block Institutional Spread Products .... 3,390.1 4,392.2
Closed Block Other ....................... 7,586.5 8,239.1
Closed Blocks ............................... 60,460.1 61,788.9
Total assets of segments ....................... 212,701.9 210,079.7
Noncontrolling interest .................... 8,321.3 6,314.5
Total assets ................................. $221,023.2 $216,394.2
21. Condensed Consolidating Financial Information
The accompanying condensed consolidating financial information has been prepared and presented pursuant to
SEC Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities
Registered or Being Registered”(“Rule 3-10”). The condensed consolidating financial information presents the
financial position of ING U.S., Inc. (“Parent Issuer”), Lion Holdings (“Subsidiary Guarantor”) and all other
subsidiaries (“Non-Guarantor Subsidiaries”) of the Company as of December 31, 2013 and 2012, and the results
of their operations, comprehensive income and cash flows for periods ended December 31, 2013, 2012 and 2011.
The 2022 Notes, 2018 Notes, 2053 Notes and 2043 Notes are fully and unconditionally guaranteed by Lion
Holdings, a 100% owned subsidiary of the Company. No other subsidiary of ING U.S., Inc. guarantees the 2022
Notes, 2018 Notes, 2053 Notes or 2043 Notes. Rule 3-10(h) provides that a guarantee is full and unconditional if,
when the issuer of a guaranteed security has failed to make a scheduled payment, the guarantor is obligated to make
the scheduled payment immediately and, if it does not, any holder of the guaranteed security may immediately bring
suit directly against the guarantor for payment of all amounts due and payable. In the event that Lion Holdings does
not fulfill the guaranteed obligations, any holder of the 2022 Notes, 2018 Notes, 2053 Notes or 2043 Notes may
immediately bring a claim against Lion Holdings for all amounts due and payable. See Note 12. Insurance
Subsidiaries to these Consolidated Financial Statements for information on any significant restrictions on the ability
of the Parent Issuer or Subsidiary Guarantor to obtain funds from its subsidiaries by dividend or return of capital.
The following condensed consolidating financial information is presented in conformance with the consolidated
financial statements. Investments in subsidiaries are accounted for using the equity method for purposes of
illustrating the consolidating presentation. Equity in the subsidiaries is therefore reflected in the Parent Issuer’s
and Subsidiary Guarantor’s Investment in subsidiaries and Equity in earnings of subsidiaries, net of tax. Non-
Guarantor Subsidiaries represent all other subsidiaries on a combined basis. The consolidating adjustments
presented eliminate investments in subsidiaries and intercompany balances and transactions.
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