| Condensed Consolidating Financial Information |
Condensed Consolidating Financial Information
The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X, Rule 3-10, "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered" ("Rule 3-10"). The condensed consolidating financial information presents the financial position of Voya Financial, Inc. ("Parent Issuer"), Voya Holdings ("Subsidiary Guarantor") and all other subsidiaries ("Non-Guarantor Subsidiaries") of the Company at September 30, 2014 and December 31, 2013, their results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013 and their statements of cash flows for the nine months ended September 30, 2014 and 2013.
The 5.5% senior notes due 2022, the 2.9% senior notes due 2018 and the 5.7% senior notes due 2043 (collectively, the "Senior Notes") and the 5.65% fixed-to-floating rate junior subordinated notes due 2053 (the "Junior Subordinated Notes") are fully and unconditionally guaranteed by Voya Holdings, a 100% owned subsidiary of the Company. No other subsidiary of Voya Financial, Inc. guarantees the Senior Notes or the Junior Subordinated Notes. Rule 3-10(h) provides that a guarantee is full and unconditional if, when the issuer of a guaranteed security has failed to make a scheduled payment, the guarantor is obligated to make the scheduled payment immediately and, if it does not, any holder of the guaranteed security may immediately bring suit directly against the guarantor for payment of amounts due and payable. In the event that Voya Holdings does not fulfill the guaranteed obligations, any holder of the Senior Notes or the Junior Subordinated Notes may immediately bring a claim against Voya Holdings for amounts due and payable. See the Insurance Subsidiaries Note to these Condensed Consolidated Financial Statements for information on any significant restrictions on the ability of the Parent Issuer or Subsidiary Guarantor to obtain funds from its subsidiaries by dividend or return of capital.
The following condensed consolidating financial information is presented in conformance with the components of the Condensed Consolidated Financial Statements. Investments in subsidiaries are accounted for using the equity method for purposes of illustrating the consolidating presentation. Equity in the subsidiaries is therefore reflected in the Parent Issuer's and Subsidiary Guarantor's Investment in subsidiaries and Equity in earnings of subsidiaries. Non-Guarantor Subsidiaries represent all other subsidiaries on a combined basis. The consolidating adjustments presented herein eliminate investments in subsidiaries and intercompany balances and transactions. Condensed Consolidating Balance Sheet September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Assets: | | | | | | | | | | Investments: | | | | | | | | | | Fixed maturities, available-for-sale, at fair value | $ | — |
| | $ | — |
| | $ | 70,171.0 |
| | $ | (15.3 | ) | | $ | 70,155.7 |
| Fixed maturities, at fair value using the fair value option | — |
| | — |
| | 3,557.8 |
| | — |
| | 3,557.8 |
| Equity securities, available-for-sale, at fair value | 81.8 |
| | — |
| | 188.7 |
| | — |
| | 270.5 |
| Short-term investments | — |
| | — |
| | 1,173.1 |
| | — |
| | 1,173.1 |
| Mortgage loans on real estate, net of valuation allowance | — |
| | — |
| | 9,949.7 |
| | — |
| | 9,949.7 |
| Policy loans | — |
| | — |
| | 2,104.2 |
| | — |
| | 2,104.2 |
| Limited partnerships/corporations | — |
| | — |
| | 348.2 |
| | — |
| | 348.2 |
| Derivatives | 66.5 |
| | — |
| | 1,236.2 |
| | (165.9 | ) | | 1,136.8 |
| Investments in subsidiaries | 16,591.1 |
| | 13,155.6 |
| | — |
| | (29,746.7 | ) | | — |
| Other investments | — |
| | 3.9 |
| | 102.9 |
| | — |
| | 106.8 |
| Securities pledged | — |
| | — |
| | 1,021.6 |
| | — |
| | 1,021.6 |
| Total investments | 16,739.4 |
| | 13,159.5 |
| | 89,853.4 |
| | (29,927.9 | ) | | 89,824.4 |
| Cash and cash equivalents | 474.0 |
| | 3.7 |
| | 1,430.8 |
| | — |
| | 1,908.5 |
| Short-term investments under securities loan agreements, including collateral delivered | 30.7 |
| | — |
| | 583.2 |
| | (20.1 | ) | | 593.8 |
| Accrued investment income | — |
| | — |
| | 926.9 |
| | — |
| | 926.9 |
| Reinsurance recoverable | — |
| | — |
| | 6,752.5 |
| | — |
| | 6,752.5 |
| Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 4,779.9 |
| | — |
| | 4,779.9 |
| Sales inducements to contract holders | — |
| | — |
| | 259.9 |
| | — |
| | 259.9 |
| Current income taxes | 52.4 |
| | (9.2 | ) | | (34.8 | ) | | — |
| | 8.4 |
| Goodwill and other intangible assets | — |
| | — |
| | 296.1 |
| | — |
| | 296.1 |
| Loans to subsidiaries and affiliates | 206.3 |
| | 0.1 |
| | 0.5 |
| | (206.9 | ) | | — |
| Due from subsidiaries and affiliates | 12.6 |
| | 0.1 |
| | 4.4 |
| | (17.1 | ) | | — |
| Other assets | 51.3 |
| | — |
| | 1,000.8 |
| | (0.7 | ) | | 1,051.4 |
| Assets related to consolidated investment entities: | | | | | | | | | | Limited partnerships/corporations, at fair value | — |
| | — |
| | 3,842.8 |
| | — |
| | 3,842.8 |
| Cash and cash equivalents | — |
| | — |
| | 560.9 |
| | — |
| | 560.9 |
| Corporate loans, at fair value using the fair value option | — |
| | — |
| | 6,262.9 |
| | — |
| | 6,262.9 |
| Other assets | — |
| | — |
| | 176.1 |
| | — |
| | 176.1 |
| Assets held in separate accounts | — |
| | — |
| | 107,059.3 |
| | — |
| | 107,059.3 |
| Total assets | $ | 17,566.7 |
| | $ | 13,154.2 |
| | $ | 223,755.6 |
| | $ | (30,172.7 | ) | | $ | 224,303.8 |
|
Condensed Consolidating Balance Sheet September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Liabilities and Shareholders' Equity: | | | | | | | | | | Future policy benefits | $ | — |
| | $ | — |
| | $ | 15,048.1 |
| | $ | — |
| | $ | 15,048.1 |
| Contract owner account balances | — |
| | — |
| | 69,091.0 |
| | — |
| | 69,091.0 |
| Payables under securities loan agreement, including collateral held | — |
| | — |
| | 927.1 |
| | — |
| | 927.1 |
| Short-term debt with affiliates | — |
| | 188.0 |
| | 18.2 |
| | (206.2 | ) | | — |
| Long-term debt | 2,997.0 |
| | 515.1 |
| | 18.7 |
| | (15.3 | ) | | 3,515.5 |
| Funds held under reinsurance agreements | — |
| | — |
| | 1,136.7 |
| | — |
| | 1,136.7 |
| Derivatives | 99.4 |
| | — |
| | 723.3 |
| | (165.9 | ) | | 656.8 |
| Pension and other post-employment provisions | — |
| | — |
| | 454.2 |
| | — |
| | 454.2 |
| Deferred income taxes | (176.4 | ) | | — |
| | 623.8 |
| | — |
| | 447.4 |
| Due to subsidiaries and affiliates | 3.2 |
| | 1.2 |
| | (2.3 | ) | | (2.1 | ) | | — |
| Other liabilities | 58.4 |
| | 6.3 |
| | 1,287.6 |
| | (36.5 | ) | | 1,315.8 |
| Liabilities related to consolidated investment entities: | | | | | | | | | | Collateralized loan obligations notes, at fair value using the fair value option | — |
| | — |
| | 6,344.4 |
| | — |
| | 6,344.4 |
| Other liabilities | — |
| | — |
| | 1,163.3 |
| | — |
| | 1,163.3 |
| Liabilities related to separate accounts | — |
| | — |
| | 107,059.3 |
| | — |
| | 107,059.3 |
| Total liabilities | 2,981.6 |
| | 710.6 |
| | 203,893.4 |
| | (426.0 | ) | | 207,159.6 |
| Shareholders' equity: | | | | | | | | | | Total Voya Financial, Inc. shareholders' equity | 14,585.1 |
| | 12,443.6 |
| | 17,303.1 |
| | (29,746.7 | ) | | 14,585.1 |
| Noncontrolling interest | — |
| | — |
| | 2,559.1 |
| | — |
| | 2,559.1 |
| Total shareholders' equity | 14,585.1 |
| | 12,443.6 |
| | 19,862.2 |
| | (29,746.7 | ) | | 17,144.2 |
| Total liabilities and shareholders' equity | $ | 17,566.7 |
| | $ | 13,154.2 |
| | $ | 223,755.6 |
| | $ | (30,172.7 | ) | | $ | 224,303.8 |
|
Condensed Consolidating Balance Sheet December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Assets: | | | | | | | | | | Investments: | | | | | | | | | | Fixed maturities, available-for-sale, at fair value | $ | — |
| | $ | — |
| | $ | 68,333.2 |
| | $ | (15.4 | ) | | $ | 68,317.8 |
| Fixed maturities, at fair value using the fair value option | — |
| | — |
| | 2,935.3 |
| | — |
| | 2,935.3 |
| Equity securities, available-for-sale, at fair value | 76.6 |
| | 20.6 |
| | 217.2 |
| | — |
| | 314.4 |
| Short-term investments | — |
| | — |
| | 1,048.1 |
| | — |
| | 1,048.1 |
| Mortgage loans on real estate, net of valuation allowance | — |
| | — |
| | 9,312.2 |
| | — |
| | 9,312.2 |
| Policy loans | — |
| | — |
| | 2,147.0 |
| | — |
| | 2,147.0 |
| Limited partnerships/corporations | — |
| | — |
| | 236.4 |
| | — |
| | 236.4 |
| Derivatives | 69.9 |
| | — |
| | 1,261.8 |
| | (182.4 | ) | | 1,149.3 |
| Investments in subsidiaries | 15,103.8 |
| | 12,572.7 |
| | — |
| | (27,676.5 | ) | | — |
| Other investments | — |
| | 0.4 |
| | 124.2 |
| | — |
| | 124.6 |
| Securities pledged | — |
| | — |
| | 1,465.7 |
| | — |
| | 1,465.7 |
| Total investments | 15,250.3 |
| | 12,593.7 |
| | 87,081.1 |
| | (27,874.3 | ) | | 87,050.8 |
| Cash and cash equivalents | 640.2 |
| | 1.1 |
| | 2,199.5 |
| | — |
| | 2,840.8 |
| Short-term investments under securities loan agreements, including collateral delivered | 30.7 |
| | — |
| | 542.3 |
| | (20.1 | ) | | 552.9 |
| Accrued investment income | — |
| | — |
| | 897.1 |
| | — |
| | 897.1 |
| Reinsurance recoverable | — |
| | — |
| | 6,702.2 |
| | — |
| | 6,702.2 |
| Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 5,351.6 |
| | — |
| | 5,351.6 |
| Sales inducements to contract holders | — |
| | — |
| | 279.0 |
| | — |
| | 279.0 |
| Deferred income taxes | 204.4 |
| | — |
| | (42.3 | ) | | — |
| | 162.1 |
| Goodwill and other intangible assets | — |
| | — |
| | 323.7 |
| | — |
| | 323.7 |
| Loans to subsidiaries and affiliates | 211.3 |
| | — |
| | 0.3 |
| | (211.6 | ) | | — |
| Due from subsidiaries and affiliates | 26.9 |
| | 0.6 |
| | 1.7 |
| | (29.2 | ) | | — |
| Other assets | 43.4 |
| | — |
| | 995.1 |
| | (2.0 | ) | | 1,036.5 |
| Assets related to consolidated investment entities: | | | | | | | | |
| Limited partnerships/corporations, at fair value | — |
| | — |
| | 3,218.6 |
| | — |
| | 3,218.6 |
| Cash and cash equivalents | — |
| | — |
| | 710.7 |
| | — |
| | 710.7 |
| Corporate loans, at fair value using the fair value option | — |
| | — |
| | 4,965.3 |
| | — |
| | 4,965.3 |
| Other assets | — |
| | — |
| | 104.8 |
| | — |
| | 104.8 |
| Assets held in separate accounts | — |
| | — |
| | 106,827.1 |
| | — |
| | 106,827.1 |
| Total assets | $ | 16,407.2 |
| | $ | 12,595.4 |
| | $ | 220,157.8 |
| | $ | (28,137.2 | ) | | $ | 221,023.2 |
|
Condensed Consolidating Balance Sheet December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Liabilities and Shareholders' Equity: | | | | | | | | | | Future policy benefits | $ | — |
| | $ | — |
| | $ | 14,098.4 |
| | $ | — |
| | $ | 14,098.4 |
| Contract owner account balances | — |
| | — |
| | 69,908.3 |
| | — |
| | 69,908.3 |
| Payables under securities loan agreement, including collateral held | — |
| | — |
| | 769.4 |
| | — |
| | 769.4 |
| Short-term debt with affiliates | — |
| | 125.4 |
| | 85.9 |
| | (211.3 | ) | | — |
| Long-term debt | 2,996.7 |
| | 514.7 |
| | 18.7 |
| | (15.4 | ) | | 3,514.7 |
| Funds held under reinsurance agreements | — |
| | — |
| | 1,181.5 |
| | — |
| | 1,181.5 |
| Derivatives | 114.0 |
| | — |
| | 1,420.2 |
| | (182.4 | ) | | 1,351.8 |
| Pension and other post-employment provisions | — |
| | — |
| | 474.9 |
| | — |
| | 474.9 |
| Current income taxes | (47.0 | ) | | 10.6 |
| | 80.5 |
| | — |
| | 44.1 |
| Due to subsidiaries and affiliates | 0.2 |
| | 1.5 |
| | 12.5 |
| | (14.2 | ) | | — |
| Other liabilities | 71.1 |
| | 14.4 |
| | 1,226.0 |
| | (37.4 | ) | | 1,274.1 |
| Liabilities related to consolidated investment entities: | | | | | | | | | | Collateralized loan obligations notes, at fair value using the fair value option | — |
| | — |
| | 5,161.6 |
| | — |
| | 5,161.6 |
| Other liabilities | — |
| | — |
| | 903.3 |
| | — |
| | 903.3 |
| Liabilities related to separate accounts | — |
| | — |
| | 106,827.1 |
| | — |
| | 106,827.1 |
| Total liabilities | 3,135.0 |
| | 666.6 |
| | 202,168.3 |
| | (460.7 | ) | | 205,509.2 |
| Shareholders' equity: | | | | | | | | | | Total Voya Financial, Inc. shareholders' equity | 13,272.2 |
| | 11,928.8 |
| | 15,747.7 |
| | (27,676.5 | ) | | 13,272.2 |
| Noncontrolling interest | — |
| | — |
| | 2,241.8 |
| | — |
| | 2,241.8 |
| Total shareholders' equity | 13,272.2 |
| | 11,928.8 |
| | 17,989.5 |
| | (27,676.5 | ) | | 15,514.0 |
| Total liabilities and shareholders' equity | $ | 16,407.2 |
| | $ | 12,595.4 |
| | $ | 220,157.8 |
| | $ | (28,137.2 | ) | | $ | 221,023.2 |
|
Condensed Consolidating Statement of Operations For the Three Months Ended September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Revenues: | | | | | | | | | | Net investment income | $ | (0.1 | ) | | $ | — |
| | $ | 1,165.3 |
| | $ | (1.6 | ) | | $ | 1,163.6 |
| Fee income | — |
| | — |
| | 908.9 |
| | — |
| | 908.9 |
| Premiums | — |
| | — |
| | 595.1 |
| | — |
| | 595.1 |
| Net realized gains (losses): | | | | | | | | | | Total other-than-temporary impairments | — |
| | — |
| | (19.5 | ) | | — |
| | (19.5 | ) | Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) | — |
| | — |
| | (0.1 | ) | | — |
| | (0.1 | ) | Net other-than-temporary impairments recognized in earnings | — |
| | — |
| | (19.4 | ) | | — |
| | (19.4 | ) | Other net realized capital gains (losses) | 0.1 |
| | 0.1 |
| | 200.2 |
| | — |
| | 200.4 |
| Total net realized capital gains (losses) | 0.1 |
| | 0.1 |
| | 180.8 |
| | — |
| | 181.0 |
| Other revenue | 0.7 |
| | — |
| | 101.0 |
| | (0.7 | ) | | 101.0 |
| Income (loss) related to consolidated investment entities: | | | | | | | | | | Net investment income (loss) | — |
| | — |
| | 248.0 |
| | — |
| | 248.0 |
| Changes in fair value related to collateralized loan obligations | — |
| | — |
| | (6.5 | ) | | — |
| | (6.5 | ) | Total revenues | 0.7 |
| | 0.1 |
| | 3,192.6 |
| | (2.3 | ) | | 3,191.1 |
| Benefits and expenses: | | | | | | | | | | Policyholder benefits | — |
| | — |
| | 1,234.7 |
| | — |
| | 1,234.7 |
| Interest credited to contract owner account balances | — |
| | — |
| | 498.2 |
| | — |
| | 498.2 |
| Operating expenses | 0.6 |
| | (0.1 | ) | | 767.5 |
| | (0.7 | ) | | 767.3 |
| Net amortization of Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 30.6 |
| | — |
| | 30.6 |
| Interest expense | 36.9 |
| | 11.0 |
| | 0.9 |
| | (1.6 | ) | | 47.2 |
| Operating expenses related to consolidated investment entities: | | | | | | | | | | Interest expense | — |
| | — |
| | 56.6 |
| | — |
| | 56.6 |
| Other expense | — |
| | — |
| | 1.7 |
| | — |
| | 1.7 |
| Total benefits and expenses | 37.5 |
| | 10.9 |
| | 2,590.2 |
| | (2.3 | ) | | 2,636.3 |
| Income (loss) before income taxes | (36.8 | ) | | (10.8 | ) | | 602.4 |
| | — |
| | 554.8 |
| Income tax expense (benefit) | — |
| | (12.0 | ) | | (26.8 | ) | | 76.2 |
| | 37.4 |
| Net income (loss) before equity in earnings (losses) of unconsolidated affiliates | (36.8 | ) | | 1.2 |
| | 629.2 |
| | (76.2 | ) | | 517.4 |
| Equity in earnings (losses) of subsidiaries, net of tax | 437.6 |
| | 434.0 |
| | — |
| | (871.6 | ) | | — |
| Net income (loss) including noncontrolling interest | 400.8 |
| | 435.2 |
| | 629.2 |
| | (947.8 | ) | | 517.4 |
| Less: Net income (loss) attributable to noncontrolling interest | — |
| | — |
| | 116.6 |
| | — |
| | 116.6 |
| Net income (loss) available to Voya Financial, Inc.'s common shareholders | $ | 400.8 |
| | $ | 435.2 |
| | $ | 512.6 |
| | $ | (947.8 | ) | | $ | 400.8 |
|
Condensed Consolidating Statement of Operations For the Nine Months Ended September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Revenues: | | | | | | | | | | Net investment income | $ | 7.0 |
| | $ | 0.1 |
| | $ | 3,428.4 |
| | $ | (5.4 | ) | | $ | 3,430.1 |
| Fee income | — |
| | — |
| | 2,738.0 |
| | — |
| | 2,738.0 |
| Premiums | — |
| | — |
| | 1,825.4 |
| | — |
| | 1,825.4 |
| Net realized gains (losses): | | | | | | | | | | Total other-than-temporary impairments | — |
| | — |
| | (25.4 | ) | | — |
| | (25.4 | ) | Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) | — |
| | — |
| | (0.2 | ) | | — |
| | (0.2 | ) | Net other-than-temporary impairments recognized in earnings | — |
| | — |
| | (25.2 | ) | | — |
| | (25.2 | ) | Other net realized capital gains (losses) | (4.7 | ) | | 0.8 |
| | (347.0 | ) | | — |
| | (350.9 | ) | Total net realized capital gains (losses) | (4.7 | ) | | 0.8 |
| | (372.2 | ) | | — |
| | (376.1 | ) | Other revenue | 2.3 |
| | 0.2 |
| | 316.6 |
| | (2.3 | ) | | 316.8 |
| Income (loss) related to consolidated investment entities: | | | | | | | | | | Net investment income (loss) | — |
| | — |
| | 630.0 |
| | — |
| | 630.0 |
| Changes in fair value related to collateralized loan obligations | — |
| | — |
| | (4.1 | ) | | — |
| | (4.1 | ) | Total revenues | 4.6 |
| | 1.1 |
| | 8,562.1 |
| | (7.7 | ) | | 8,560.1 |
| Benefits and expenses: | | | | | | | | | | Policyholder benefits | — |
| | — |
| | 2,910.9 |
| | — |
| | 2,910.9 |
| Interest credited to contract owner account balances | — |
| | — |
| | 1,485.3 |
| | — |
| | 1,485.3 |
| Operating expenses | 2.9 |
| | — |
| | 2,314.5 |
| | (2.3 | ) | | 2,315.1 |
| Net amortization of Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 272.4 |
| | — |
| | 272.4 |
| Interest expense | 111.7 |
| | 32.5 |
| | 3.5 |
| | (5.4 | ) | | 142.3 |
| Operating expenses related to consolidated investment entities: | | | | | | | | | | Interest expense | — |
| | — |
| | 152.3 |
| | — |
| | 152.3 |
| Other expense | — |
| | — |
| | 5.7 |
| | — |
| | 5.7 |
| Total benefits and expenses | 114.6 |
| | 32.5 |
| | 7,144.6 |
| | (7.7 | ) | | 7,284.0 |
| Income (loss) before income taxes | (110.0 | ) | | (31.4 | ) | | 1,417.5 |
| | — |
| | 1,276.1 |
| Income tax expense (benefit) | — |
| | (10.7 | ) | | 6.3 |
| | 78.6 |
| | 74.2 |
| Net income (loss) before equity in earnings (losses) of unconsolidated affiliates | (110.0 | ) | | (20.7 | ) | | 1,411.2 |
| | (78.6 | ) | | 1,201.9 |
| Equity in earnings (losses) of subsidiaries, net of tax | 1,015.2 |
| | 572.2 |
| | — |
| | (1,587.4 | ) | | — |
| Net income (loss) including noncontrolling interest | 905.2 |
| | 551.5 |
| | 1,411.2 |
| | (1,666.0 | ) | | 1,201.9 |
| Less: Net income (loss) attributable to noncontrolling interest | — |
| | — |
| | 296.7 |
| | — |
| | 296.7 |
| Net income (loss) available to Voya Financial, Inc.'s common shareholders | $ | 905.2 |
| | $ | 551.5 |
| | $ | 1,114.5 |
| | $ | (1,666.0 | ) | | $ | 905.2 |
|
Condensed Consolidating Statement of Operations For the Three Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Revenues: | | | | | | | | | | Net investment income | $ | 5.7 |
| | $ | — |
| | $ | 1,217.1 |
| | $ | (1.2 | ) | | $ | 1,221.6 |
| Fee income | — |
| | — |
| | 920.8 |
| | — |
| | 920.8 |
| Premiums | — |
| | — |
| | 494.2 |
| | — |
| | 494.2 |
| Net realized gains (losses): | | | | | | | | | | Total other-than-temporary impairments | — |
| | — |
| | (5.6 | ) | | — |
| | (5.6 | ) | Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) | — |
| | — |
| | (1.2 | ) | | — |
| | (1.2 | ) | Net other-than-temporary impairments recognized in earnings | — |
| | — |
| | (4.4 | ) | | — |
| | (4.4 | ) | Other net realized capital gains (losses) | — |
| | — |
| | (512.7 | ) | | — |
| | (512.7 | ) | Total net realized capital gains (losses) | — |
| | — |
| | (517.1 | ) | | — |
| | (517.1 | ) | Other revenue | 0.6 |
| | 1.4 |
| | 120.1 |
| | (2.5 | ) | | 119.6 |
| Income (loss) related to consolidated investment entities: | | | | | | | | | | Net investment income (loss) | — |
| | — |
| | 135.3 |
| | — |
| | 135.3 |
| Changes in fair value related to collateralized loan obligations | — |
| | — |
| | 60.9 |
| | — |
| | 60.9 |
| Total revenues | 6.3 |
| | 1.4 |
| | 2,431.3 |
| | (3.7 | ) | | 2,435.3 |
| Benefits and expenses: | | | | | | | | | | Policyholder benefits | — |
| | — |
| | 570.7 |
| | — |
| | 570.7 |
| Interest credited to contract owner account balances | — |
| | — |
| | 517.0 |
| | — |
| | 517.0 |
| Operating expenses | 4.9 |
| | — |
| | 760.4 |
| | (2.5 | ) | | 762.8 |
| Net amortization of Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 64.6 |
| | — |
| | 64.6 |
| Interest expense | 35.7 |
| | 12.5 |
| | 1.4 |
| | (1.2 | ) | | 48.4 |
| Operating expenses related to consolidated investment entities: | | | | | | | | | | Interest expense | — |
| | — |
| | 50.4 |
| | — |
| | 50.4 |
| Other expense | — |
| | — |
| | 1.4 |
| | — |
| | 1.4 |
| Total benefits and expenses | 40.6 |
| | 12.5 |
| | 1,965.9 |
| | (3.7 | ) | | 2,015.3 |
| Income (loss) before income taxes | (34.3 | ) | | (11.1 | ) | | 465.4 |
| | — |
| | 420.0 |
| Income tax expense (benefit) | (89.6 | ) | | (12.0 | ) | | 73.9 |
| | — |
| | (27.7 | ) | Net income (loss) before equity in earnings (losses) of unconsolidated affiliates | 55.3 |
| | 0.9 |
| | 391.5 |
| | — |
| | 447.7 |
| Equity in earnings (losses) of subsidiaries, net of tax | 291.3 |
| | 292.7 |
| | — |
| | (584.0 | ) | | — |
| Net income (loss) including noncontrolling interest | 346.6 |
| | 293.6 |
| | 391.5 |
| | (584.0 | ) | | 447.7 |
| Less: Net income (loss) attributable to noncontrolling interest | — |
| | — |
| | 101.1 |
| | — |
| | 101.1 |
| Net income (loss) available to Voya Financial, Inc.'s common shareholders | $ | 346.6 |
| | $ | 293.6 |
| | $ | 290.4 |
| | $ | (584.0 | ) | | $ | 346.6 |
|
Condensed Consolidating Statement of Operations For the Nine Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Revenues: | | | | | | | | | | Net investment income | $ | 30.9 |
| | $ | 0.1 |
| | $ | 3,504.0 |
| | $ | (2.5 | ) | | $ | 3,532.5 |
| Fee income | — |
| | — |
| | 2,722.4 |
| | — |
| | 2,722.4 |
| Premiums | — |
| | — |
| | 1,440.9 |
| | — |
| | 1,440.9 |
| Net realized gains (losses): | | | | | | | | | | Total other-than-temporary impairments | — |
| | — |
| | (26.9 | ) | | — |
| | (26.9 | ) | Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) | — |
| | — |
| | (4.3 | ) | | — |
| | (4.3 | ) | Net other-than-temporary impairments recognized in earnings | — |
| | — |
| | (22.6 | ) | | — |
| | (22.6 | ) | Other net realized capital gains (losses) | — |
| | — |
| | (1,935.2 | ) | | — |
| | (1,935.2 | ) | Total net realized capital gains (losses) | — |
| | — |
| | (1,957.8 | ) | | — |
| | (1,957.8 | ) | Other revenue | 3.4 |
| | 1.7 |
| | 323.9 |
| | (7.7 | ) | | 321.3 |
| Income (loss) related to consolidated investment entities: | | | | | | | | | | Net investment income (loss) | — |
| | — |
| | 346.3 |
| | — |
| | 346.3 |
| Changes in fair value related to collateralized loan obligations | — |
| | — |
| | (11.1 | ) | | — |
| | (11.1 | ) | Total revenues | 34.3 |
| | 1.8 |
| | 6,368.6 |
| | (10.2 | ) | | 6,394.5 |
| Benefits and expenses: | | | | | | | | | | Policyholder benefits | — |
| | — |
| | 1,822.2 |
| | — |
| | 1,822.2 |
| Interest credited to contract owner account balances | — |
| | — |
| | 1,556.8 |
| | — |
| | 1,556.8 |
| Operating expenses | 11.8 |
| | — |
| | 2,288.0 |
| | (7.7 | ) | | 2,292.1 |
| Net amortization of Deferred policy acquisition costs and Value of business acquired | — |
| | — |
| | 319.6 |
| | — |
| | 319.6 |
| Interest expense | 92.0 |
| | 42.3 |
| | 4.8 |
| | (2.5 | ) | | 136.6 |
| Operating expenses related to consolidated investment entities: | | | | | | | | | | Interest expense | — |
| | — |
| | 130.6 |
| | — |
| | 130.6 |
| Other expense | — |
| | — |
| | 6.1 |
| | — |
| | 6.1 |
| Total benefits and expenses | 103.8 |
| | 42.3 |
| | 6,128.1 |
| | (10.2 | ) | | 6,264.0 |
| Income (loss) before income taxes | (69.5 | ) | | (40.5 | ) | | 240.5 |
| | — |
| | 130.5 |
| Income tax expense (benefit) | (93.1 | ) | | (14.9 | ) | | 101.6 |
| | — |
| | (6.4 | ) | Net income (loss) before equity in earnings (losses) of unconsolidated affiliates | 23.6 |
| | (25.6 | ) | | 138.9 |
| | — |
| | 136.9 |
| Equity in earnings (losses) of subsidiaries, net of tax | 28.8 |
| | 648.7 |
| | — |
| | (677.5 | ) | | — |
| Net income (loss) including noncontrolling interest | 52.4 |
| | 623.1 |
| | 138.9 |
| | (677.5 | ) | | 136.9 |
| Less: Net income (loss) attributable to noncontrolling interest | — |
| | — |
| | 84.5 |
| | — |
| | 84.5 |
| Net income (loss) available to Voya Financial, Inc.'s common shareholders | $ | 52.4 |
| | $ | 623.1 |
| | $ | 54.4 |
| | $ | (677.5 | ) | | $ | 52.4 |
|
Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) including noncontrolling interest | $ | 400.8 |
| | $ | 435.2 |
| | $ | 629.2 |
| | $ | (947.8 | ) | | $ | 517.4 |
| Other comprehensive income (loss), before tax: | | | | | | | | | | Unrealized gains (losses) on securities | (510.8 | ) | | (408.7 | ) | | (510.8 | ) | | 919.5 |
| | (510.8 | ) | Other-than-temporary impairments | 5.9 |
| | 4.6 |
| | 5.9 |
| | (10.5 | ) | | 5.9 |
| Pension and other postretirement benefits liability | (3.4 | ) | | (0.8 | ) | | (3.4 | ) | | 4.2 |
| | (3.4 | ) | Other comprehensive income (loss), before tax | (508.3 | ) | | (404.9 | ) | | (508.3 | ) | | 913.2 |
| | (508.3 | ) | Income tax expense (benefit) related to items of other comprehensive income (loss) | (175.8 | ) | | (139.6 | ) | | (175.8 | ) | | 315.4 |
| | (175.8 | ) | Other comprehensive income (loss), after tax | (332.5 | ) | | (265.3 | ) | | (332.5 | ) | | 597.8 |
| | (332.5 | ) | Comprehensive income (loss) | 68.3 |
| | 169.9 |
| | 296.7 |
| | (350.0 | ) | | 184.9 |
| Less: Comprehensive income (loss) attributable to noncontrolling interest | — |
| | — |
| | 116.6 |
| | — |
| | 116.6 |
| Comprehensive income (loss) attributable to Voya Financial, Inc.'s common shareholders | $ | 68.3 |
| | $ | 169.9 |
| | $ | 180.1 |
| | $ | (350.0 | ) | | $ | 68.3 |
|
Condensed Consolidating Statement of Comprehensive Income For the Nine Months Ended September 30, 2014 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) including noncontrolling interest | $ | 905.2 |
| | $ | 551.5 |
| | $ | 1,411.2 |
| | $ | (1,666.0 | ) | | $ | 1,201.9 |
| Other comprehensive income (loss), before tax: | | | | | | | | | | Unrealized gains (losses) on securities | 1,478.4 |
| | 975.1 |
| | 1,482.4 |
| | (2,457.5 | ) | | 1,478.4 |
| Other-than-temporary impairments | 30.2 |
| | 24.1 |
| | 30.2 |
| | (54.3 | ) | | 30.2 |
| Pension and other postretirement benefits liability | (10.3 | ) | | (2.4 | ) | | (10.3 | ) | | 12.7 |
| | (10.3 | ) | Other comprehensive income (loss), before tax | 1,498.3 |
| | 996.8 |
| | 1,502.3 |
| | (2,499.1 | ) | | 1,498.3 |
| Income tax expense (benefit) related to items of other comprehensive income (loss) | 527.2 |
| | 351.7 |
| | 527.2 |
| | (878.9 | ) | | 527.2 |
| Other comprehensive income (loss), after tax | 971.1 |
| | 645.1 |
| | 975.1 |
| | (1,620.2 | ) | | 971.1 |
| Comprehensive income (loss) | 1,876.3 |
| | 1,196.6 |
| | 2,386.3 |
| | (3,286.2 | ) | | 2,173.0 |
| Less: Comprehensive income (loss) attributable to noncontrolling interest | — |
| | — |
| | 296.7 |
| | — |
| | 296.7 |
| Comprehensive income (loss) attributable to Voya Financial, Inc.'s common shareholders | $ | 1,876.3 |
| | $ | 1,196.6 |
| | $ | 2,089.6 |
| | $ | (3,286.2 | ) | | $ | 1,876.3 |
|
Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) including noncontrolling interest | $ | 346.6 |
| | $ | 293.6 |
| | $ | 391.5 |
| | $ | (584.0 | ) | | $ | 447.7 |
| Other comprehensive income (loss), before tax: | | | | | | | | | | Unrealized gains (losses) on securities | (223.2 | ) | | (92.4 | ) | | (224.6 | ) | | 317.0 |
| | (223.2 | ) | Other-than-temporary impairments | 13.5 |
| | 8.8 |
| | 13.5 |
| | (22.3 | ) | | 13.5 |
| Pension and other postretirement benefits liability | (3.4 | ) | | (0.8 | ) | | (3.4 | ) | | 4.2 |
| | (3.4 | ) | Other comprehensive income (loss), before tax | (213.1 | ) | | (84.4 | ) | | (214.5 | ) | | 298.9 |
| | (213.1 | ) | Income tax expense (benefit) related to items of other comprehensive income (loss) | (75.3 | ) | | (141.8 | ) | | (75.4 | ) | | 217.2 |
| | (75.3 | ) | Other comprehensive income (loss), after tax | (137.8 | ) | | 57.4 |
| | (139.1 | ) | | 81.7 |
| | (137.8 | ) | Comprehensive income (loss) | 208.8 |
| | 351.0 |
| | 252.4 |
| | (502.3 | ) | | 309.9 |
| Less: Comprehensive income (loss) attributable to noncontrolling interest | — |
| | — |
| | 101.1 |
| | — |
| | 101.1 |
| Comprehensive income (loss) attributable to Voya Financial, Inc.'s common shareholder | $ | 208.8 |
| | $ | 351.0 |
| | $ | 151.3 |
| | $ | (502.3 | ) | | $ | 208.8 |
|
Condensed Consolidating Statement of Comprehensive Income For the Nine Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) including noncontrolling interest | $ | 52.4 |
| | $ | 623.1 |
| | $ | 138.9 |
| | $ | (677.5 | ) | | $ | 136.9 |
| Other comprehensive income (loss), before tax: | | | | | | | | | | Unrealized gains (losses) on securities | (2,733.4 | ) | | (1,750.6 | ) | | (2,734.1 | ) | | 4,484.7 |
| | (2,733.4 | ) | Other-than-temporary impairments | 44.8 |
| | 25.2 |
| | 44.8 |
| | (70.0 | ) | | 44.8 |
| Pension and other postretirement benefits liability | (10.3 | ) | | (2.4 | ) | | (10.3 | ) | | 12.7 |
| | (10.3 | ) | Other comprehensive income (loss), before tax | (2,698.9 | ) | | (1,727.8 | ) | | (2,699.6 | ) | | 4,427.4 |
| | (2,698.9 | ) | Income tax expense (benefit) related to items of other comprehensive income (loss) | (938.2 | ) | | (711.7 | ) | | (938.0 | ) | | 1,649.7 |
| | (938.2 | ) | Other comprehensive income (loss), after tax | (1,760.7 | ) | | (1,016.1 | ) | | (1,761.6 | ) | | 2,777.7 |
| | (1,760.7 | ) | Comprehensive income (loss) | (1,708.3 | ) | | (393.0 | ) | | (1,622.7 | ) | | 2,100.2 |
| | (1,623.8 | ) | Less: Comprehensive income (loss) attributable to noncontrolling interest | — |
| | — |
| | 84.5 |
| | — |
| | 84.5 |
| Comprehensive income (loss) attributable to Voya Financial, Inc.'s common shareholder | $ | (1,708.3 | ) | | $ | (393.0 | ) | | $ | (1,707.2 | ) | | $ | 2,100.2 |
| | $ | (1,708.3 | ) |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2014 | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net cash provided by (used in) operating activities | $ | (163.3 | ) | | $ | 97.2 |
| | $ | 3,108.3 |
| | $ | (126.0 | ) | | $ | 2,916.2 |
| | | | | | | | | | | Cash Flows from Investing Activities: | | | | | | | | | | Proceeds from the sale, maturity, disposal or redemption of: | | | | | | | | | | Fixed maturities | — |
| | — |
| | 9,192.3 |
| | — |
| | 9,192.3 |
| Equity securities, available-for-sale | 13.0 |
| | 13.0 |
| | 37.7 |
| | — |
| | 63.7 |
| Mortgage loans on real estate | — |
| | — |
| | 937.6 |
| | — |
| | 937.6 |
| Limited partnerships/corporations | — |
| | — |
| | 137.6 |
| | — |
| | 137.6 |
| Acquisition of: | | | | | | | | | | Fixed maturities | — |
| | — |
| | (9,172.3 | ) | | — |
| | (9,172.3 | ) | Equity securities, available-for-sale | (15.6 | ) | | — |
| | (2.7 | ) | | — |
| | (18.3 | ) | Mortgage loans on real estate | — |
| | — |
| | (1,574.8 | ) | | — |
| | (1,574.8 | ) | Limited partnerships/corporations | — |
| | — |
| | (261.3 | ) | | — |
| | (261.3 | ) | Short-term investments, net | — |
| | — |
| | (124.5 | ) | | — |
| | (124.5 | ) | Policy loans, net | — |
| | — |
| | 42.8 |
| | — |
| | 42.8 |
| Derivatives, net | 1.4 |
| | — |
| | (672.1 | ) | | — |
| | (670.7 | ) | Other investments, net | — |
| | 0.8 |
| | 37.7 |
| | — |
| | 38.5 |
| Sales from consolidated investments entities | — |
| | — |
| | 2,558.5 |
| | — |
| | 2,558.5 |
| Purchases within consolidated investment entities | — |
| | — |
| | (4,292.6 | ) | | — |
| | (4,292.6 | ) | Maturity of intercompany loans issued to subsidiaries with maturities more than three months | 0.8 |
| | — |
| | — |
| | (0.8 | ) | | — |
| Net (issuance) maturity of short-term intercompany loans | 4.2 |
| | — |
| | — |
| | (4.2 | ) | | — |
| Return of capital contributions and dividends from subsidiaries | 797.0 |
| | 690.0 |
| | — |
| | (1,487.0 | ) | | — |
| Capital contributions to subsidiaries | (150.0 | ) | | (171.0 | ) | | — |
| | 321.0 |
| | — |
| Collateral received (delivered), net | — |
| | — |
| | 116.8 |
| | — |
| | 116.8 |
| Purchases of fixed assets, net | — |
| | — |
| | (26.5 | ) | | — |
| | (26.5 | ) | Net cash provided by (used in) investing activities | 650.8 |
| | 532.8 |
| | (3,065.8 | ) | | (1,171.0 | ) | | (3,053.2 | ) |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2014 | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Cash Flows from Financing Activities: | | | | | | | | | | Deposits received for investment contracts | — |
| | — |
| | 5,681.5 |
| | — |
| | 5,681.5 |
| Maturities and withdrawals from investment contracts | — |
| | — |
| | (7,332.9 | ) | | — |
| | (7,332.9 | ) | Debt issuance costs | (16.8 | ) | | — |
| | — |
| | — |
| | (16.8 | ) | Intercompany loans with maturities of more than three months | — |
| | — |
| | (0.8 | ) | | 0.8 |
| | — |
| Net (repayments of) proceeds from short-term intercompany loans | — |
| | 62.6 |
| | (66.8 | ) | | 4.2 |
| | — |
| Dividends to parent | — |
| | — |
| | (848.0 | ) | | 848.0 |
| | — |
| Return of capital contributions to parent | — |
| | (690.0 | ) | | (75.0 | ) | | 765.0 |
| | — |
| Contributions of capital from parent | — |
| | — |
| | 321.0 |
| | (321.0 | ) | | — |
| Borrowings of consolidated investment entities | — |
| | — |
| | 340.5 |
| | — |
| | 340.5 |
| Repayments of borrowings of consolidated investment entities | — |
| | — |
| | (66.6 | ) | | — |
| | (66.6 | ) | Contributions from (distributions to) participants in consolidated investment entities | — |
| | — |
| | 1,235.9 |
| | — |
| | 1,235.9 |
| Common stock acquired - Share repurchase | (614.4 | ) | | — |
| | — |
| | — |
| | (614.4 | ) | Share-based compensation | (14.8 | ) | | — |
| | — |
| | — |
| | (14.8 | ) | Dividends paid | (7.7 | ) | | — |
| | — |
| | — |
| | (7.7 | ) | Net cash provided by (used in) financing activities | (653.7 | ) | | (627.4 | ) | | (811.2 | ) | | 1,297.0 |
| | (795.3 | ) | Net increase (decrease) in cash and cash equivalents | (166.2 | ) | | 2.6 |
| | (768.7 | ) | | — |
| | (932.3 | ) | Cash and cash equivalents, beginning of period | 640.2 |
| | 1.1 |
| | 2,199.5 |
| | — |
| | 2,840.8 |
| Cash and cash equivalents, end of period | $ | 474.0 |
| | $ | 3.7 |
| | $ | 1,430.8 |
| | $ | — |
| | $ | 1,908.5 |
|
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2013 | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net cash provided by (used in) operating activities | $ | 162.4 |
| | $ | 33.8 |
| | $ | 2,807.9 |
| | $ | (62.0 | ) | | $ | 2,942.1 |
| | | | | | | | | | | Cash Flows from Investing Activities: | | | | | | | | | | Proceeds from the sale, maturity, disposal or redemption of: | | | | | | | | | | Fixed maturities | — |
| | — |
| | 11,626.7 |
| | — |
| | 11,626.7 |
| Equity securities, available-for-sale | 9.9 |
| | 13.7 |
| | 23.5 |
| | — |
| | 47.1 |
| Mortgage loans on real estate | — |
| | 0.4 |
| | 1,253.1 |
| | — |
| | 1,253.5 |
| Limited partnerships/corporations | — |
| | — |
| | 274.8 |
| | — |
| | 274.8 |
| Acquisition of: | | | | | | | | | | Fixed maturities | — |
| | — |
| | (14,281.7 | ) | | — |
| | (14,281.7 | ) | Equity securities, available-for-sale | (10.5 | ) | | — |
| | (7.4 | ) | | — |
| | (17.9 | ) | Mortgage loans on real estate | — |
| | — |
| | (1,583.2 | ) | | — |
| | (1,583.2 | ) | Limited partnerships/corporations | — |
| | — |
| | (81.0 | ) | | — |
| | (81.0 | ) | Short-term investments, net | — |
| | — |
| | 3,443.2 |
| | — |
| | 3,443.2 |
| Policy loans, net | — |
| | — |
| | 52.8 |
| | — |
| | 52.8 |
| Derivatives, net | — |
| | — |
| | (1,981.6 | ) | | — |
| | (1,981.6 | ) | Other investments, net | — |
| | (0.4 | ) | | 34.7 |
| | — |
| | 34.3 |
| Sales from consolidated investments entities | — |
| | — |
| | 2,518.7 |
| | — |
| | 2,518.7 |
| Purchases within consolidated investment entities | — |
| | — |
| | (3,352.2 | ) | | — |
| | (3,352.2 | ) | Maturity of intercompany loans issued to subsidiaries with maturities more than three months | 2.3 |
| | — |
| | — |
| | (2.3 | ) | | — |
| Net maturity (issuance) of short-term intercompany loans | (274.5 | ) | | 58.0 |
| | 261.1 |
| | (44.6 | ) | | — |
| Return of capital contributions from subsidiaries | 1,434.0 |
| | 987.0 |
| | — |
| | (2,421.0 | ) | | — |
| Capital contributions to subsidiaries | (2,062.0 | ) | | — |
| | — |
| | 2,062.0 |
| | — |
| Collateral received (delivered), net | 12.7 |
| | — |
| | (764.2 | ) | | — |
| | (751.5 | ) | Purchases of fixed assets, net | — |
| | — |
| | (25.7 | ) | | — |
| | (25.7 | ) | Net cash provided by (used in) investing activities | (888.1 | ) | | 1,058.7 |
| | (2,588.4 | ) | | (405.9 | ) | | (2,823.7 | ) |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2013 | | Parent Issuer | | Subsidiary Guarantor | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Cash Flows from Financing Activities: | | | | | | | | | | Deposits received for investment contracts | — |
| | — |
| | 8,985.2 |
| | — |
| | 8,985.2 |
| Maturities and withdrawals from investment contracts | — |
| | — |
| | (9,648.9 | ) | | — |
| | (9,648.9 | ) | Proceeds from issuance of debt with maturities of more than three months | 2,146.8 |
| | — |
| | 0.3 |
| | — |
| | 2,147.1 |
| Repayment of debt with maturities of more than three months | (1,370.3 | ) | | (638.6 | ) | | (688.5 | ) | | — |
| | (2,697.4 | ) | Short-term debt, net | (171.7 | ) | | — |
| | 0.1 |
| | — |
| | (171.6 | ) | Debt issuance costs | (24.8 | ) | | — |
| | — |
| | — |
| | (24.8 | ) | Intercompany loans with maturities of more than three months | — |
| | — |
| | (2.3 | ) | | 2.3 |
| | — |
| Net (repayments of) proceeds from short-term intercompany loans | (319.1 | ) | | 253.3 |
| | 21.2 |
| | 44.6 |
| | — |
| Dividends to parent | — |
| | — |
| | (62.0 | ) | | 62.0 |
| | — |
| Return of capital contributions to parent | — |
| | (987.0 | ) | | (1,434.0 | ) | | 2,421.0 |
| | — |
| Contributions of capital from parent | — |
| | 280.0 |
| | 1,782.0 |
| | (2,062.0 | ) | | — |
| Borrowings of consolidated investment entities | — |
| | — |
| | 32.0 |
| | — |
| | 32.0 |
| Repayments of borrowings of consolidated investment entities | — |
| | — |
| | (8.5 | ) | | — |
| | (8.5 | ) | Contributions from (distributions to) participants in consolidated investment entities | — |
| | — |
| | 626.7 |
| | — |
| | 626.7 |
| Proceeds from issuance of common stock, net | 571.6 |
| | — |
| | — |
| | — |
| | 571.6 |
| Net cash provided by (used in) financing activities | 832.5 |
| | (1,092.3 | ) | | (396.7 | ) | | 467.9 |
| | (188.6 | ) | Net increase (decrease) in cash and cash equivalents | 106.8 |
| | 0.2 |
| | (177.2 | ) | | — |
| | (70.2 | ) | Cash and cash equivalents, beginning of period | 357.5 |
| | 0.4 |
| | 1,428.9 |
| | — |
| | 1,786.8 |
| Cash and cash equivalents, end of period | $ | 464.3 |
| | $ | 0.6 |
| | $ | 1,251.7 |
| | $ | — |
| | $ | 1,716.6 |
|
|