Voya 2014 Annual Report Download - page 398

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The summary below presents Total assets for the Company’s segments as of the dates indicated:
December 31,
2014
December 31,
2013
Retirement Solutions:
Retirement ..................................... $ 96,433.9 $ 92,336.7
Annuities ...................................... 25,901.5 26,528.3
Investment Management .............................. 492.6 463.3
Insurance Solutions:
Individual Life .................................. 26,877.1 25,592.2
Employee Benefits ............................... 2,602.4 2,518.5
Total Ongoing Business ............................... 152,307.5 147,439.0
Corporate .......................................... 5,910.0 4,802.8
Closed Blocks:
Closed Block Variable Annuity ..................... 48,706.9 49,483.5
Closed Block Institutional Spread Products ........... 1,901.9 3,390.1
Closed Block Other .............................. 7,496.3 7,586.5
Closed Blocks ...................................... 58,105.1 60,460.1
Total assets of segments ............................... 216,322.6 212,701.9
Noncontrolling interest ........................... 10,628.8 8,321.3
Total assets ......................................... $226,951.4 $221,023.2
21. Condensed Consolidating Financial Information
The accompanying condensed consolidating financial information has been prepared and presented pursuant to
SEC Regulation S-X, Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities
Registered or Being Registered” (“Rule 3-10”). The condensed consolidating financial information presents the
financial position of Voya Financial, Inc. (“Parent Issuer”), Voya Holdings (“Subsidiary Guarantor”) and all
other subsidiaries (“Non-Guarantor Subsidiaries”) of the Company as of December 31, 2014 and 2013, and their
results of operations, comprehensive income and cash flows for the years ended December 31, 2014, 2013 and
2012.
The 5.5% senior notes due 2022, the 2.9% senior notes due 2018 and the 5.7% senior notes due 2043
(collectively, the “Senior Notes”) and the 5.65% fixed-to-floating rate junior subordinated notes due 2053 (the
“Junior Subordinated Notes”) are fully and unconditionally guaranteed by Voya Holdings, a 100% owned
subsidiary of the Company. No other subsidiary of Voya Financial, Inc. guarantees the Senior Notes or the Junior
Subordinated Notes. Rule 3-10(h) provides that a guarantee is full and unconditional if, when the issuer of a
guaranteed security has failed to make a scheduled payment, the guarantor is obligated to make the scheduled
payment immediately and, if it does not, any holder of the guaranteed security may immediately bring suit
directly against the guarantor for payment of amounts due and payable. In the event that Voya Holdings does not
fulfill the guaranteed obligations, any holder of the Senior Notes or the Junior Subordinated Notes may
immediately bring a claim against Voya Holdings for amounts due and payable. See the Insurance Subsidiaries
Note to these Consolidated Financial Statements for information on any significant restrictions on the ability of
the Parent Issuer or Subsidiary Guarantor to obtain funds from its subsidiaries by dividend or return of capital.
The following condensed consolidating financial information is presented in conformance with the components
of the Condensed Consolidated Financial Statements. Investments in subsidiaries are accounted for using the
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