Schedule V - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule V - Valuation and Qualifying Accounts

Voya Financial, Inc.

Schedule V

Valuation and Qualifying Accounts

Years Ended December 31, 2020, 2019 and 2018

(In millions)

	Balance at January 1,			Charged to Costs and Expenses			Write-offs/ Payments/ Other		Balance at December 31,
2020
Valuation allowance on deferred tax assets	$	379		$	(26)	(1)	$	—	$	353
Allowance for credit losses on mortgage loans on real estate	16		(2)	76			(3)		89
Allowance for credit losses on reinsurance recoverable	17		(2)	1			—		18
2019
Valuation allowance on deferred tax assets	$	638		$	(259)	(1)	$	—	$	379
Allowance for credit losses on mortgage loans on real estate	2			(1)			—		1
Allowance for credit losses on reinsurance recoverable	—			—			—		—
2018
Valuation allowance on deferred tax assets	$	653		$	(15)		$	—	$	638
Allowance for credit losses on mortgage loans on real estate	3			(1)			—		2
Allowance for credit losses on reinsurance recoverable	—			—			—		—

(1) Refer to the Income Taxes Note to the accompanying Consolidated Financial Statements for more information.