Voya Financial Inc
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 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 June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Wealth Solutions: | ||||
| Advisory and recordkeeping and administration | $157 | $124 | $300 | $244 |
| Distribution and shareholder servicing | 32 | 30 | 66 | 59 |
| Investment Management: | ||||
| Advisory, asset management and recordkeeping and administration | 242 | 232 | 484 | 462 |
| Distribution and shareholder servicing | 40 | 32 | 79 | 64 |
| Health Solutions: | ||||
| Recordkeeping and administration | 7 | 4 | 12 | 11 |
| Software subscriptions and services | 50 | 54 | 104 | 114 |
| Corporate: | ||||
| Recordkeeping and administration | — | 5 | 2 | 17 |
| Total financial services and software subscriptions and services revenue | 528 | 481 | 1,047 | 971 |
| Revenue from other sources(1) | 87 | 79 | 169 | 131 |
| Total Fee income and Other revenue | $615 | $560 | $1,216 | $1,102 |
(1)Primarily consists of revenue from insurance contracts and financial instruments.
Net receivables of $297 and $339 are included in Other assets on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023, respectively.
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