Voya Financial Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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17. 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:
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Wealth Solutions | |||
| Advisory and R&A | $625 | $497 | $525 |
| Distribution and shareholder servicing | 133 | 121 | 116 |
| Investment Management | |||
| Advisory, asset management and R&A | 1,004 | 924 | 826 |
| Distribution and shareholder servicing | 153 | 146 | 145 |
| Health Solutions | |||
| R&A | 26 | 18 | 17 |
| Software subscriptions and services | 206 | 205 | — |
| Corporate | |||
| R&A | 3 | 28 | 62 |
| Total financial services and software subscriptions and services revenue | 2,150 | 1,939 | 1,691 |
| Revenue from other sources(1) | 386 | 304 | 199 |
| Total Fee income and Other revenue | $2,536 | $2,243 | $1,890 |
(1)Primarily consists of revenue from insurance contracts and financial instruments.
Net receivables of $361 and $339 are included in Other assets on the Consolidated Balance Sheets as of December 31, 2024 and 2023, respectively.
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