Voya 2014 Annual Report Download - page 374

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The following table summarizes income and expense from transactions with related parties for the periods
indicated:
Years Ended December 31,
2014 2013 2012
Income Expense Income Expense Income Expense
NN Group ...................................... $ 2.5 $ 0.6 $ 1.9 $ 6.1 $ 1.8 $ 13.5
ING Group ..................................... 11.8 14.7 7.4 18.0 13.9 8.2
ING Bank ...................................... 5.6 19.8 7.2 39.5 35.5 104.6
Other .......................................... 19.6 14.0 18.6 14.6 10.5 7.9
Total .......................................... $39.5 $49.1 $35.1 $78.2 $61.7 $134.2
The following table summarizes assets and liabilities from transactions with related parties as of the dates
indicated:
December 31, 2014 December 31, 2013
Assets Liabilities Assets Liabilities
NN Group ........................................ $ 0.1 $0.2 $ 0.5 $0.2
ING Group ....................................... 1.9 1.2 1.3 0.9
ING Bank ........................................ 12.9 4.0 13.8 5.8
Other ............................................ 2.2 1.4 2.6 2.0
Total ............................................ $17.1 $6.8 $18.2 $8.9
The material agreements whereby the Company generates revenues and expenses with affiliated entities are as
follows:
Credit Facilities
The Company is a borrower in several credit facility agreements with ING Bank, in which ING Bank provides
LOC capacity. The Company had accrued payables of $4.0 and $4.9 as of December 31, 2014 and 2013,
respectively. The Company incurred expenses of $15.9, $38.2, and $98.2 for the years ended December 31, 2014,
2013 and 2012, respectively.
In September 2008, the Company completed an $825.0 LOC facility with ING Bank to support the reinsurance
obligations of SLDI. The facility was scheduled to mature in December 2013. See the Collateral Support for
Reinsurance Contracts section of the Consolidated Investment Entities Note to these Consolidated Financial
Statements for additional information. Additionally, in July 2011, the Company entered into a $625.0 bilateral
LOC facility agreement with ING Bank which was reduced to $300.0 in October 2012 and was scheduled to
mature in June 2013. The capacity from these two maturing LOC facilities was replaced by a $1.1 billion ING
Bank LOC facility effective October 30, 2013, which matures October 29, 2021.
On April 20, 2012, the Company entered into a Revolving Credit Agreement. ING Bank was committed to
providing $250.0 of the $3.5 billion in total financing under the Revolving Credit Agreement. On February 14,
2014, the Company revised the terms of its Revolving Credit Agreement. Accordingly, ING Bank’s commitment
was reduced to $150.0. ING Bank, an affiliate, acted as Joint Lead Arranger, Joint Book Manager and
Documentation Agent and received $0.7 for its services and participation in the syndicate. As of December 31,
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