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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and diluted net income (loss) per common share for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions, except for per share data) | 2025 |  | 2024 |  | 2025 |  | 2024
Earnings |  |  |  |  |  |  |
Net income available to common shareholders: |  |  |  |  |  |  |
Net income | $ | 272 |  |  | $ | 98 |  |  | $ | 584 |  |  | $ | 621 |
Less: Preferred stock dividends | 16 |  |  | 16 |  |  | 37 |  |  | 37 |
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest | 80 |  |  | (16) |  |  | 70 |  |  | 51 |
Net income available to common shareholders | $ | 176 |  |  | $ | 98 |  |  | $ | 477 |  |  | $ | 533 |
Weighted average common shares outstanding |  |  |  |  |  |  |
Basic | 95.9 |  |  | 98.2 |  |  | 96.1 |  |  | 100.2 |
Dilutive Effects(1): |  |  |  |  |  |  |
RSUs | 1.0 |  |  | 1.1 |  |  | 1.0 |  |  | 1.1 |
PSUs | 0.3 |  |  | 0.7 |  |  | 0.4 |  |  | 0.7 |
Stock Options | 0.2 |  |  | 0.4 |  |  | 0.2 |  |  | 0.4 |
Diluted | 97.4 |  |  | 100.4 |  |  | 97.7 |  |  | 102.4 |
Net income available to Voya Financial, Inc.'s common shareholders per common share (2) |  |  |  |  |  |  |
Basic | $ | 1.82 |  |  | $ | 1.00 |  |  | $ | 4.96 |  |  | $ | 5.32 |
Diluted | $ | 1.80 |  |  | $ | 0.98 |  |  | $ | 4.88 |  |  | $ | 5.20 |
(1) For the three and nine months ended September 30, 2025 and 2024, weighted average shares used for calculating earnings per share excludes the impact of forward contracts related to the share repurchase agreement entered into on August 11, 2025 and September 12, 2024, respectively, as the inclusion of these instruments would be antidilutive to the earnings per share calculation. For more information on the share repurchase agreement, see the Shareholders' Equity Note to these Condensed Consolidated Financial Statements. (2) Basic and diluted earnings per share are calculated using unrounded, actual amounts. Therefore, the components of earnings per share may not sum to its corresponding total. Diluted earnings per share is computed assuming the issuance of restricted stock units, stock options and performance share units using the treasury stock method.

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