Voya 2014 Annual Report Download - page 147

The Lehman Recovery of $4.0 million was included in the Operating earnings before income taxes of the
Corporate segment in 2014. The following table presents the net impact to Operating earnings before income
taxes of the Net gain from Lehman Recovery/LIHTC and the related amortization and unlocking of DAC/VOBA
and other intangibles by segment for 2013:
Year Ended December 31, 2013
($ in millions)
Net investment
income (loss)
DAC/VOBA
and other
intangibles
amortization(1)
DAC/VOBA
and other
intangibles
unlocking(1)
Net gain from
Lehman
Recovery/
LIHTC
Retirement ....................... $ 15.2 $ (7.0) $ 4.7 $12.9
Annuities ......................... 20.3 (11.4) 4.6 13.5
Investment Management ............. 13.2 — — 13.2
Individual Life .................... 47.2 (25.1) 17.6 39.7
Employee Benefits ................. 4.3 — — 4.3
Corporate ........................ 3.2 — — 3.2
Closed Block Institutional Spread
Products ....................... (0.4) — — (0.4)
Closed Block Other ................. 0.6 — — 0.6
Net gain included in segment Operating
earnings before income taxes(2) ..... $103.6 $(43.5) $26.9 $87.0
(1) DAC/VOBA and other intangibles amortization and DAC/VOBA and other intangibles unlocking are
included in Fee income,Interest credited and other benefits to contract owners/policyholders and Net
amortization of DAC/VOBA (See Unlocking of DAC/VOBA and other Contract Owners/Policyholders
Intangibles in Part II, Item 7. of this Annual Report on Form 10-K).
(2) Amount excludes net gain for the CBVA segment of $9.0 million for the year ended December 31, 2013.
The following table presents the impact to Operating earnings before income taxes of the net loss on the sale
of certain alternative investments in 2012 (see “—Investments—Sale of Certain Alternative Investments” for
further description by segment):
($ in millions)
Year Ended
December 31,
2012
Retirement ..................................... $(48.1)
Annuities ....................................... (18.0)
Investment Management ........................... 2.2
Individual Life .................................. (13.1)
Employee Benefits ............................... (5.1)
Closed Block Institutional Spread Products ............ (8.0)
Closed Block Other .............................. (1.9)
Net loss included in segment Operating earnings before
income taxes(1) ................................ $(92.0)
(1) Amount excludes net gain for the CBVA segment of $0.1 million for the year ended December 31, 2012.
Terminology Definitions
Net realized capital gains (losses),net realized investment gains (losses) and related charges and
adjustments and Net guaranteed benefit hedging losses and related charges and adjustments include changes in
the fair value of derivatives. Increases in the fair value of derivative assets or decreases in the fair value of
derivative liabilities result in “gains.” Decreases in the fair value of derivative assets or increases in the fair value
of derivative liabilities result in “losses.”
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