Voya Financial, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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.
Sep 30, 2025 · Filed Nov 6, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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10. Goodwill and Other Intangible Assets
- Goodwill and Other Intangible Assets
Goodwill
The changes in the carrying amount of goodwill reported in the Company's operating segments were as follows:
| Retirement | Investment Management | Employee Benefits | Corporate(1) | Consolidated | |
|---|---|---|---|---|---|
| Balance as of January 1, 2024 | $17 | $286 | $343 | $102 | $748 |
| Additions related to business acquisitions | — | — | — | — | — |
| Balance as of December 31, 2024 | $17 | $286 | $343 | $102 | $748 |
| Additions related to business acquisitions(2) | 56 | — | — | — | 56 |
| Balance as of September 30, 2025 | $73 | $286 | $343 | $102 | $804 |
(1) Corporate includes goodwill that was acquired by the parent company and not pushed to a subsidiary within the Company’s reportable segments. The carrying value of goodwill within Corporate is allocated to Retirement, Investment Management, and Employee Benefits segments as $72, $10 and $20 respectively.
(2) During 2025, the Company recognized goodwill of $56 as a result of the acquisition of OneAmerica Financial's full-service retirement plan business.
Other Intangible Assets
The following table presents other intangible assets as of the dates indicated:
| WeightedAverageAmortizationLives (Years) · September 30, 2025 · December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|
| GrossCarryingAmount · AccumulatedAmortization · NetCarryingAmount · GrossCarryingAmount · AccumulatedAmortization · NetCarryingAmount | |||||||
| Indefinite-life intangibles: | |||||||
| Management contract rights | N/A | $350 | $— | $350 | $350 | $— | $350 |
| Finite-life intangibles: | |||||||
| Management contract rights | 17 | 131 | 25 | 106 | 131 | 19 | 112 |
| Customer relationship lists(1) | 16 | 345 | 158 | 187 | 325 | 145 | 180 |
| Trademarks | 8 | 15 | 5 | 10 | 15 | 4 | 11 |
| Computer software(2) | 5 | 442 | 258 | 184 | 432 | 253 | 179 |
| Total intangible assets | $1,283 | $446 | $837 | $1,253 | $421 | $832 | |
(1) During 2025, as a result of the acquisition of OneAmerica Financial's full-service retirement plan business, the Company recognized intangible assets of $21, which will be amortized over a weighted average useful life of 13 years.
(2) Fully amortized computer software of $47 was written-off during the nine months ended September 30, 2025.
Amortization expense related to intangible assets was $76 and $70 for the nine months ended September 30, 2025 and 2024, respectively.
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