Voya 2013 Annual Report Download - page 438

unlocking and certain other notable items that we do not believe are indicative of its continuing
performance. Ongoing Business Adjusted Operating Income is a non-GAAP financial measure. See our
Registration Statement on Form S-1, as filed with the Securities and Exchange Commission on March 18,
2014 (the “Registration Statement”) under the caption “Business—Return on Operating Return on Capital
Goal—Calculations and Reconciliations”.
Ongoing Business Adjusted Operating Return on Capital: Ongoing Business Adjusted Operating Return
on Capital is a measure of how effectively we deploy capital in our ongoing business. Ongoing Business
Adjusted Operating Return on Capital is a non-GAAP financial measure. See the Registration Statement
under the caption “Business—Return on Operating Return on Capital Goal—Calculations and
Reconciliations”.
Distributable Earnings Before Holding Company Expense: Distributable Earnings Before Holding
Company Expense is a measure of how effectively we are generating capital and managing the capital
structure of our business.
Measure Weight
Minimum
Performance for
Payout
Performance
for Target
Payout
Performance
for Maximum
Payout
Actual
Performance, as
Reported(1)
Performance,
As Adjusted
for
Compensation
Purposes(2)
Payout as
Percentage
of Target
Ongoing Business
Adjusted Operating
Earnings Before Tax 35% $909 million $1,136 million $1,363 million $1,212 million $1,165 million 113%
Ongoing Business
Adjusted Operating
Return on Capital 35% 6.5% 8.1% 9.7% 8.6% 8.3% 105%
Distributable Earnings
Before Holding
Company Expense(3) 30% 80% 100% 120% N/A 127% 150%
Total 100% 120%
(1) Actual performance amounts as reported in the Company’s press release announcing 2013 financial results.
(2) Performance amounts reflecting adjustments to the reported amounts, which were determined by the Compensation and
Benefits Committee to be not reflective of the ongoing performance of our business.
(3) Expressed as a percentage of plan amounts.
Step 3: Individual assessment and determination of individual ICP award. Following determination of the
preliminary annual incentive amounts, the Compensation and Benefits Committee qualitatively assessed each
NEO’s performance based on performance objectives that included individualized qualitative performance
goals and business line or functional area performance. In the case of NEOs other than Mr. Martin, the views
of Mr. Martin with respect to such performance were considered by the Compensation and Benefits Committee
as part of this assessment. The results of this assessment were as follows:
Mr. Martin significantly exceeded his goals and objectives that were set at the beginning of 2013. In
assessing the performance of Mr. Martin, the Committee considered the Company results that were achieved
under Mr. Martin’s leadership, in addition to a number of his other notable accomplishments in 2013. Key
corporate and individual factors considered included the following:
• Mr. Martin delivered solid financial results for the Company, which met or exceeded our targets, with
Net Income available to shareholders driven by strong Ongoing Business Operating Earnings. Further,
the Closed Block Variable Annuity performance was actively and effectively managed so as to protect
regulatory and rating agency capital.
• Ongoing Business Adjusted Operating Return on Equity for the year was increased to 10.3% during
2013, well on track to meet the year-end 2016 target of 12% to 13%.
• Under Mr. Martin’s leadership, the Company achieved significant transformational objectives in 2013.
Notably:
• Our IPO was completed in May and a secondary offering of shares was completed in October,
reducing ING Group’s ownership stake to approximately 57%.
16