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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Item 1. Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
June 30, 2024 (Unaudited) and December 31, 2023
(In millions, except share and per share data)
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Assets: | ||
| Investments: | ||
| Fixed maturities, available-for-sale, at fair value (amortized cost of $26,905 and $27,690 as of 2024 and 2023, respectively; net of allowance for credit losses of $27 and $17 as of 2024 and 2023, respectively) | $24,325 | $25,375 |
| Fixed maturities, at fair value using the fair value option | 1,873 | 2,076 |
| Equity securities, at fair value | 240 | 236 |
| Short-term investments | 98 | 213 |
| Mortgage loans on real estate (net of allowance for credit losses of $24 and $26 as of 2024 and 2023, respectively) | 4,977 | 5,192 |
| Policy loans | 345 | 352 |
| Limited partnerships/corporations | 1,723 | 1,621 |
| Derivatives | 316 | 311 |
| Other investments | 64 | 64 |
| Securities pledged (amortized cost of $1,393 and $1,232 as of 2024 and 2023, respectively) | 1,274 | 1,160 |
| Total investments | 35,235 | 36,600 |
| Cash and cash equivalents | 1,066 | 937 |
| Short-term investments under securities loan agreements, including collateral delivered | 1,030 | 1,015 |
| Accrued investment income | 398 | 411 |
| Premium receivable and reinsurance recoverable (net of allowance for credit losses of $21 and $28 as of 2024 and 2023, respectively) | 11,574 | 11,982 |
| Deferred policy acquisition costs and Value of business acquired | 2,196 | 2,250 |
| Deferred income taxes | 2,171 | 2,160 |
| Goodwill | 748 | 748 |
| Other intangibles, net | 856 | 857 |
| Other assets (net of allowance for credit losses of 1 as of 2024 and 2023) | 2,370 | 2,372 |
| Assets related to consolidated investment entities ("CIEs"): | ||
| Limited partnerships/corporations, at fair value | 2,991 | 2,861 |
| Cash and cash equivalents | 114 | 181 |
| Corporate loans, at fair value using the fair value option | 1,216 | 1,404 |
| Other assets | 168 | 174 |
| Assets held in separate accounts | 99,147 | 93,133 |
| Total assets | $161,280 | $157,085 |
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
Condensed Consolidated Balance Sheets
June 30, 2024 (Unaudited) and December 31, 2023
(In millions, except share and per share data)
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Liabilities: | ||
| Future policy benefits | $9,355 | $9,560 |
| Contract owner account balances | 37,876 | 39,174 |
| Payables under securities loan and repurchase agreements, including collateral held | 1,215 | 1,121 |
| Short-term debt | 395 | 1 |
| Long-term debt | 1,707 | 2,097 |
| Derivatives | 316 | 371 |
| Other liabilities | 2,927 | 2,956 |
| Liabilities related to CIEs: | ||
| Collateralized loan obligations notes, at fair value using the fair value option | 1,121 | 1,332 |
| Other liabilities | 1,352 | 1,287 |
| Liabilities related to separate accounts | 99,147 | 93,133 |
| Total liabilities | $155,411 | $151,032 |
| Commitments and Contingencies (Note 17) | ||
| Mezzanine equity: | ||
| Redeemable noncontrolling interest | $183 | $175 |
| Shareholders' equity: | ||
| Preferred stock ($0.01 par value per share; $625 aggregate liquidation preference as of 2024 and 2023) | — | — |
| Common stock ($0.01 par value per share; 900,000,000 shares authorized; 105,241,324 and 103,584,699 shares issued as of 2024 and 2023, respectively; 99,053,271 and 102,854,569 shares outstanding as of 2024 and 2023, respectively) | 1 | 1 |
| Treasury stock (at cost; 6,188,053 and 730,130 shares as of 2024 and 2023, respectively) | (448) | (56) |
| Additional paid-in capital | 6,218 | 6,143 |
| Accumulated other comprehensive income (loss) | (2,583) | (2,400) |
| Retained earnings (deficit): | ||
| Unappropriated | 855 | 505 |
| Total Voya Financial, Inc. shareholders' equity | 4,043 | 4,193 |
| Noncontrolling interest | 1,643 | 1,685 |
| Total shareholders' equity | 5,686 | 5,878 |
| Total liabilities, mezzanine equity and shareholders' equity | $161,280 | $157,085 |
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.