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Financing Agreements (Tables)

6 Months Ended

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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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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