Voya 2014 Annual Report Download - page 256

Voya Financial, Inc.
Consolidated Statements of Operations
For the Years Ended December 31, 2014, 2013 and 2012
(In millions, except per share data)
Year Ended December 31,
2014 2013 2012
Revenues:
Net investment income ....................................... $ 4,614.8 $ 4,689.0 $ 4,697.9
Fee income ................................................ 3,632.5 3,666.3 3,515.4
Premiums ................................................. 2,626.4 1,956.3 1,861.1
Net realized gains (losses):
Total other-than-temporary impairments ..................... (31.9) (43.7) (74.1)
Less: Portion of other-than-temporary impairments recognized in
Other comprehensive income (loss) ....................... (0.3) (8.0) (19.0)
Net other-than-temporary impairments recognized in earnings .... (31.6) (35.7) (55.1)
Other net realized capital gains (losses) ...................... (862.8) (2,499.1) (1,225.7)
Total net realized capital gains (losses) ...................... (894.4) (2,534.8) (1,280.8)
Other revenue .............................................. 432.8 433.0 378.5
Income (loss) related to consolidated investment entities:
Net investment income (loss) .............................. 665.5 545.2 556.6
Changes in fair value related to collateralized loan obligations .... (6.7) 3.5 (113.4)
Total revenues .................................................. 11,070.9 8,758.5 9,615.3
Benefits and expenses:
Policyholder benefits ........................................ 3,946.7 2,409.4 2,613.5
Interest credited to contract owner account balances ................ 1,991.2 2,088.4 2,248.1
Operating expenses .......................................... 3,561.7 2,686.7 3,155.0
Net amortization of Deferred policy acquisition costs and Value of
business acquired ......................................... 379.3 442.8 722.3
Interest expense ............................................ 189.7 184.8 153.7
Operating expenses related to consolidated investment entities:
Interest expense ........................................ 209.5 180.6 106.4
Other expense .......................................... 7.6 7.7 10.3
Total benefits and expenses ....................................... 10,285.7 8,000.4 9,009.3
Income (loss) before income taxes .................................. 785.2 758.1 606.0
Income tax expense (benefit) ...................................... (1,752.2) (32.5) (5.2)
Net income (loss) ............................................... 2,537.4 790.6 611.2
Less: Net income (loss) attributable to noncontrolling interest ........ 237.7 190.1 138.2
Net income (loss) available to Voya Financial, Inc.’s common
shareholders ................................................. $ 2,299.7 $ 600.5 $ 473.0
Net income (loss) available to Voya Financial, Inc.’s common shareholders
per common share:
Basic ..................................................... $ 9.09 $ 2.40 $ 2.06
Diluted ................................................... $ 9.02 $ 2.38 $ 2.06
Cash dividends declared per share of common stock ................ $ 0.04 $ 0.02 $ —
The accompanying notes are an integral part of these Consolidated Financial Statements.
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