Voya Financial Inc
For the period ended Mar 31, 2024. Filed May 6, 2024.
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Mar 31, 2024 · Filed May 6, 2024
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14. Revenue from Contracts 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:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Wealth Solutions: | ||
| Advisory and recordkeeping and administration | $143 | $121 |
| Distribution and shareholder servicing | 34 | 29 |
| Investment Management: | ||
| Advisory, asset management and recordkeeping and administration | 242 | 229 |
| Distribution and shareholder servicing | 39 | 32 |
| Health Solutions: | ||
| Recordkeeping and administration | 5 | 6 |
| Software subscriptions and services | 54 | 47 |
| Corporate: | ||
| Recordkeeping and administration | 2 | 12 |
| Total financial services and software subscriptions and services revenue | 519 | 476 |
| Revenue from other sources(1) | 82 | 66 |
| Total Fee income and Other revenue | $601 | $542 |
(1)Primarily consists of revenue from insurance contracts and financial instruments.
Net receivables of $319 and $339 are included in Other assets on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively.
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