Voya 2014 Annual Report Download - page 131

Year Ended December 31,
2014 2013 2012 2011 2010
($ in millions)
Balance Sheet Data:
Total investments ..................... $ 90,833.8 $ 87,050.8 $ 95,487.6 $ 92,819.2 $ 86,886.1
Assets held in separate accounts .......... 106,007.8 106,827.1 97,667.4 88,714.5 95,588.1
Total assets .......................... 226,951.4 221,023.2 216,394.2 203,572.8 204,376.5
Future policy benefits and contract owner
account balances .................... 85,010.7 84,006.7 86,055.7 88,358.4 83,642.8
Short-term debt ....................... — — 1,064.6 1,054.6 5,464.6
Long-term debt ....................... 3,515.7 3,514.7 3,171.1 1,343.1 2,784.0
Liabilities related to separate accounts ..... 106,007.8 106,827.1 97,667.4 88,714.5 95,588.1
Total Voya Financial, Inc. shareholders’
equity, excluding AOCI(2) ............. 13,004.2 11,423.1 10,164.2 9,758.9 5,857.5
Total Voya Financial, Inc. shareholders’
equity ............................. 16,107.9 13,272.2 13,874.9 12,353.9 6,830.8
Other Supplemental Data (unaudited):
Ratio of Earnings to Fixed Charges(3)(4) .... 1.27 1.27 1.20 1.06 NM
(1) For 2013 and prior, per share amounts give retroactive effect to the 2,295.248835-for-1 stock split effected
on April 11, 2013.
(2) Shareholders’ equity, excluding AOCI, is derived by subtracting AOCI from Voya Financial, Inc.
shareholders’ equity—both components of which are presented in the respective Consolidated Balance
Sheets. For a description of AOCI, see the Accumulated Other Comprehensive Income (Loss) Note in our
Consolidated Financial Statements in Part II, Item 8. of this Annual Report on Form 10-K. We provide
shareholders’ equity, excluding AOCI, because it is a common measure used by insurance analysts and
investment professionals in their evaluations.
(3) Earnings were insufficient to cover fixed charges at a 1:1 ratio by $39.0 million for the year ended
December 31, 2010. This ratio is presented as “NM” or not meaningful.
(4) Interest and debt issuance costs include interest costs related to variable interest entities of $209.5 million,
$180.6 million, $106.4 million, $68.4 million and $49.8 million for the years ended December 31, 2014,
2013, 2012, 2011 and 2010, respectively. Excluding these costs, as well as the earnings of the variable
interest entities, would result in a ratio of earnings to fixed charges of 1.25, 1.24, 1.19, 1.04 and 1.01 for the
years ended December 31, 2014, 2013, 2012, 2011 and 2010, respectively. Excluding these costs, as well as
the earnings of the variable interest entities, would result in a ratio of earnings to fixed charges excluding
interest credited to policyholder account balances of 3.70, 3.77, 3.81, 1.69 and 1.16 for the years ended
December 31, 2014, 2013, 2012, 2011 and 2010, respectively.
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