Voya 2014 Annual Report Download - page 340

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
permanent equity. They have been recorded at their fair value determined on the issuance date of May 7, 2013 in
the amount of $94.0 as an addition and reduction to Additional-paid-in-capital. Warrant holders are not entitled
to receive dividends.
The warrants are not exercisable by ING Group or any of its affiliates before January 1, 2017, but are exercisable
in accordance with their terms before January 1, 2017 by holders other than ING Group or its affiliates, if any.
Earnings Per Share
The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and
diluted net income (loss) per common share for the periods indicated:
(in millions, except for per share data) Year Ended December 31,
2014 2013 2012(1)
Earnings
Net income (loss) available to common shareholders
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 common shareholders ...... $2,299.7 $600.5 $473.0
Weighted-average common shares outstanding
Basic ................................... 253.1 250.6 230.0
Dilutive Effects:(2)
RSUs ............................... 1.3 0.6 —
RSUs—Deal incentive awards ........... 0.3 0.4 —
PSU awards .......................... 0.4 0.2 —
Diluted .................................. 255.1 251.8 230.0
Net income (loss) per common share
Basic ................................... $ 9.09 $ 2.40 $ 2.06
Diluted .................................. 9.02 2.38 2.06
(1) Per-share amounts give retroactive effect to the 2,295.248835-to-1 shares split effected on April 11, 2013.
(2) For the years ended December 31, 2014 and 2013, weighted average shares used for calculating earnings per
share excludes the dilutive impact of warrants, as the inclusion of this equity instrument would be
antidilutive to the earnings per share calculation due to “out of the moneyness” in the periods presented.
Dividends to Common Shareholders
The declaration and payment of common shares dividends by the Company is subject to the discretion of its
Board of Directors and will depend on the Company’s overall financial condition, results of operations, capital
levels, cash requirements, future prospects, receipt of dividends from Voya Financial, Inc.’s insurance
subsidiaries, risk management considerations and other factors deemed relevant by the Board. There are no
significant restrictions, other than those generally applicable to corporations incorporated in Delaware and those
described in the Financing Agreements Note to these Consolidated Financial Statements, on the payment of
dividends by the Company.
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