Voya Financial Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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17. Revenue from Contr acts with Customers
- Revenue from Contracts with Customers
Financial services and software subscriptions and services revenue is disaggregated by type of service in the following table:
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Wealth Solutions | |||
| Advisory and R&A | $497 | $525 | $650 |
| Distribution and shareholder servicing | 121 | 116 | 207 |
| Investment Management | |||
| Advisory, asset management and R&A | 924 | 826 | 834 |
| Distribution and shareholder servicing | 146 | 145 | 183 |
| Health Solutions | |||
| R&A | 18 | 17 | 16 |
| Software subscriptions and services | 205 | — | — |
| Corporate | |||
| R&A | 28 | 62 | 94 |
| Total financial services and software subscriptions and services revenue | 1,939 | 1,691 | 1,984 |
| Revenue from other sources(1) | 304 | 199 | 408 |
| Total Fee income and Other revenue | $2,243 | $1,890 | $2,392 |
(1)Primarily consists of revenue from insurance contracts and financial instruments.
Net receivables of $339 and $299 are included in Other assets on the Consolidated Balance Sheets as of December 31, 2023 and 2022, respectively.
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