Voya 2014 Annual Report Download - page 299

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The following table summarizes these intent impairments, which are also recognized in earnings, by type for the
periods indicated:
Year Ended December 31,
2014 2013 2012
Impairment
No. of
Securities Impairment
No. of
Securities Impairment
No. of
Securities
U.S. Treasuries ...................... $ 0.5 1 $— — $— —
U.S. corporate ...................... 14.5 42 — — 1.1 2
Foreign(1) .......................... 6.9 12 — — 1.5 4
Residential mortgage-backed ........... 1.5 26 6.6 22 3.3 10
Commercial mortgage-backed .......... 0.2 7 0.6 3 1.7 1
Other asset-backed ................... 0.2 14 7.3 2 0.2 1
Equity ............................. — — — — — —
Mortgage loans on real estate .......... — — — — — —
Other assets ........................ — — — — — —
Total .............................. $23.8 102 $14.5 27 $ 7.8 18
(1) Primarily U.S. dollar denominated.
The Company may sell securities during the period in which fair value has declined below amortized cost for
fixed maturities or cost for equity securities. In certain situations, new factors, including changes in the business
environment, can change the Company’s previous intent to continue holding a security. Accordingly, these
factors may lead the Company to record additional intent related capital losses.
The following table identifies the amount of credit impairments on fixed maturities for which a portion of the
OTTI loss was recognized in Other comprehensive income (loss) and the corresponding changes in such amounts
for the periods indicated:
Year Ended December 31,
2014 2013 2012
Balance at January 1 ................................. $114.2 $126.3 $145.6
Additional credit impairments:
On securities not previously impaired ........... 1.8 3.5 9.5
On securities previously impaired .............. 4.8 8.1 17.1
Reductions:
Securities sold, matured, prepaid or paid down .... 32.0 23.7 45.9
Increase in cash flows ....................... 2.0 — —
Balance at December 31 .............................. $ 86.8 $114.2 $126.3
276