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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Investments:    
Short-term investments under securities loan agreements, including collateral delivered $ 1,030 $ 1,042
Accrued investment income 429 396
Premium receivable and reinsurance recoverable (net of allowance for credit losses of $17 and $16 as of 2025 and 2024, respectively) 11,144 11,284
Deferred policy acquisition costs ("DAC") and Value of business acquired ("VOBA") 2,505 2,148
Deferred income taxes 2,032 2,134
Goodwill 804 748
Other intangibles, net 854 832
Assets held in separate accounts 98,948 101,676
Total assets 163,950 163,889
Liabilities:    
Future policy benefits 9,214 9,332
Contract owner account balances 40,549 37,104
Payables under securities loan and repurchase agreements, including collateral held 1,486 1,309
Short-term debt 1 399
Long-term debt 2,103 2,103
Derivatives 286 332
Liabilities related to separate accounts 98,948 101,676
Total liabilities 157,589 157,882
Commitments and Contingencies (Note 18)
Mezzanine equity:    
Redeemable noncontrolling interest 214 219
Shareholders' equity:    
Preferred stock ($0.01 par value per share; $625 aggregate liquidation preference as of 2025 and 2024) 0 0
Common stock ($0.01 par value per share; 900,000,000 shares authorized; 106,813,254 and 105,592,281 shares issued as of 2025 and 2024, respectively; 96,257,262 and 95,497,265 shares outstanding as of 2025 and 2024, respectively) 1 1
Treasury stock (at cost; 10,555,992 and 10,095,016 shares as of 2025 and 2024, respectively) (788) (754)
Additional paid-in capital 6,299 6,266
Accumulated other comprehensive income (loss) (2,181) (2,462)
Retained earnings:    
Unappropriated 1,052 954
Total Voya Financial, Inc. shareholders' equity 4,383 4,005
Noncontrolling interest 1,764 1,783
Total shareholders' equity 6,147 5,788
Total liabilities, mezzanine equity and shareholders' equity 163,950 163,889
Excluding consolidated VIEs    
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $28,079 and $26,536 as of 2025 and 2024, respectively; net of allowance for credit losses of $18 and $38 as of 2025 and 2024, respectively) 25,978 24,089
Fixed maturities, at fair value using the fair value option 1,854 1,849
Equity securities, at fair value 209 246
Short-term investments 149 94
Mortgage loans on real estate (net of allowance for credit losses of $29 and $24 as of 2025 and 2024, respectively) 5,585 4,675
Policy loans 336 342
Limited partnerships/corporations 1,881 1,836
Derivatives 249 303
Other investments 69 67
Securities pledged (amortized cost of $1,502 and $1,665 as of 2025 and 2024, respectively) 1,393 1,523
Total investments 37,703 35,024
Cash and cash equivalents 868 1,399
Other assets 3,276 2,312
Corporate loans, at fair value using the fair value option 5,585 4,675
Liabilities:    
Other liabilities 2,762 2,886
VIEs    
Investments:    
Mortgage loans on real estate (net of allowance for credit losses of $29 and $24 as of 2025 and 2024, respectively) 1,066 1,434
Limited partnerships/corporations 2,923 3,067
Cash and cash equivalents 142 115
Other assets 226 278
Corporate loans, at fair value using the fair value option 1,066 1,434
Liabilities:    
Other liabilities 1,212 1,640
Collateralized loan obligations notes, at fair value using the fair value option $ 1,028 $ 1,101