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Financing Agreements (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The following table summarizes the carrying value of the Company’s debt issued or borrowed and outstanding as of the periods indicated:
| Issuer |  | Maturity |  | June 30, 2024 |  | December 31, 2023
3.976% Senior Notes, due 2025 (2)(3) | Voya Financial, Inc. |  | 02/15/2025 |  | $ | 395 |  |  | $ | 390 |
3.65% Senior Notes, due 2026 (2)(3) | Voya Financial, Inc. |  | 06/15/2026 |  | 446 |  |  | 446 |
5.7% Senior Notes, due 2043 (2)(3) | Voya Financial, Inc. |  | 07/15/2043 |  | 395 |  |  | 396 |
4.8% Senior Notes, due 2046 (2)(3) | Voya Financial, Inc. |  | 06/15/2046 |  | 297 |  |  | 297 |
4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048 | Voya Financial, Inc. |  | 01/23/2048 |  | 336 |  |  | 336 |
7.625% Voya Holdings Inc. debentures, due 2026(1) | Voya Holdings, Inc. |  | 08/15/2026 |  | 139 |  |  | 139 |
6.97% Voya Holdings Inc. debentures, due 2036(1) | Voya Holdings, Inc. |  | 08/15/2036 |  | 79 |  |  | 79 |
8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027 | Equitable of Iowa Capital Trust II |  | 04/01/2027 |  | 13 |  |  | 13 |
1.00% Windsor Property Loan | Voya Retirement Insurance and Annuity Company |  | 06/14/2027 |  | 2 |  |  | 2 |
Subtotal |  |  |  |  | 2,102 |  |  | 2,098 |
Less: Current portion of long-term debt |  |  |  |  | 395 |  |  | 1 |
Total |  |  |  |  | $ | 1,707 |  |  | $ | 2,097 |
(1) Guaranteed by ING Group. (2) Interest is paid semi-annually in arrears. (3) Guaranteed by Voya Holdings.
Schedule of Line of Credit Facilities | The following table summarizes the Company's credit facilities as of June 30, 2024:
Obligor / Applicant |  | Business Supported |  | Secured / Unsecured |  | Committed / Uncommitted |  | Expiration |  | Capacity |  | Utilization |  |  |  | Unused Commitment
Voya Financial, Inc. |  | Other |  | Unsecured |  | Committed |  | 05/01/2028 |  | $ | 500 |  |  | $ | — |  |  |  |  | $ | 500 |
Voya Financial, Inc. |  | Other |  | Unsecured |  | Committed |  | 04/07/2025 |  | 12 |  | (2) | 12 |  | (1) |  |  | — |
Total |  |  |  |  |  |  |  |  |  | $ | 512 |  |  | $ | 12 |  |  |  |  | $ | 500 |
(1) Amount utilized as collateral for outstanding Aetna Notes. (2) In March of 2024, the Company decreased the capacity of its letter of credit, expiring in 2025, from $200 to $12. This reduction was due to the reduced collateral requirements resulting from the maturity of a portion of the Aetna Notes. Additionally, the full capacity was not expected to be utilized through its expiration.

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