# EDGAR Filing Document

**Accession Number:** 0001535929
**File Stem:** 0000000000-25-006375
**Filing Date:** 2025-6
**Character Count:** 5924
**Document Hash:** 750f8d514151983ee36b2fbe6d599228
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-006375.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0000000000-25-006375

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250617

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Voya Financial, Inc.
- **CENTRAL INDEX KEY:** 0001535929
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 521222820
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 001-35897

**BUSINESS ADDRESS:**
- **STREET 1:** 200 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10166
- **BUSINESS PHONE:** 212-309-8200

**MAIL ADDRESS:**
- **STREET 1:** 200 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING U.S., Inc.
- **DATE OF NAME CHANGE:** 20120709

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING America Insurance Holdings, Inc.
- **DATE OF NAME CHANGE:** 20111130
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001535929-25-000017

## Text-Extract

```

                                                              June 17, 2025

Michael R. Katz
Chief Financial Officer
Voya Financial, Inc.
230 Park Avenue
New York, NY 10169

        Re: Voya Financial, Inc.
            Form 10-K for Fiscal Year Ended December 31, 2024
            Form 8-K filed May 6, 2025
            File No. 001-35897
Dear Michael R. Katz:

       We have limited our review of your filing to the financial statements
and related
disclosures and have the following comments.

       Please respond to this letter within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe a
comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this letter, we may have additional
comments.

Form 10-K for Fiscal Year Ended December 31, 2024
Notes to the Consolidated Financial Statements
1. Business, Basis of Presentation and Significant Accounting Policies
Investments, page 105

1.     We note your disclosure that investment gains and losses on sales of
securities are
       generally determined on a first-in-first-out (   FIFO   ) basis. Please
tell us why you use
       the first-in-first-out basis to determine the cost basis of securities
sold as compared to
       the specific identification method. Tell us the nature of your
investments that results
       in first-in-first-out being appropriate.
 June 17, 2025
Page 2

4. Insurance Subsidiaries
Principal Insurance Subsidiaries Statutory Equity and Income, page 168

2.     For each material entity, please provide us with, and revise future
filings to disclose,
       the amount of statutory capital and surplus necessary to satisfy
regulatory
       requirements if significant in relation to the entity   s statutory
capital and surplus.
       Refer to ASC 944-505-50-1 for guidance.
Form 8-K filed May 6, 2025
Exhibit 99.1
Reconciliation of Net Income (Loss) to Adjusted Operating Earnings and Earnings
Per Share
(Diluted), page 3

3.     Please tell us how you considered whether the adjustment for alternative
investment
       income and prepayment fees above (below) long-term expectations net of
variable
       compensation, as shown throughout Exhibits 99.1 and 99.2, substitutes an
individually
       tailored recognition and measurement method for those of GAAP, which
results in a
       misleading non-GAAP measure that violates Rule 100(b) of Regulation G.
Please
       refer to Question 100.04 of the Division of Corporation Finance   s
Compliance
       & Disclosure Interpretations on Non-GAAP Financial Measures for
guidance.
       Alternatively, please remove this adjustment from future filings.
Exhibit 99.2
Consolidated Adjusted Operating Earnings Before Income Taxes, page 7

4.     Please provide us with, and revise future filings to include, a
reconciliation of adjusted
       operating benefits and expenses to the most directly comparable U.S.
GAAP measure,
       which appears to be benefits and expenses as presented in the
consolidated statement
       of operations on page 6. In your response and revised disclosures,
explain what the
       adjustments represent, the underlying reason for the adjustments, and
why you
       consider the resulting measure (i.e., adjusted operating benefits and
expenses) to be
       useful in understanding your overall results of operations. Further,
please revise future
       filings to label adjusted operating benefits and expenses as a non-GAAP
measure or
       explain to us why this is not necessary.
Investment Management and Consolidated Reconciliation of Net Revenues, page 41

5.     Please tell us, and revise future filings to disclose, what the
adjustment for interest
       credited and other benefits to contract owners/policyholders represents,
the underlying
       reason for the adjustment, and to explain in more detail why you
consider the
       resulting measure (i.e., Net Revenue) to be useful in understanding your
overall
       results of operations.
 June 17, 2025
Page 3

        In closing, we remind you that the company and its management are
responsible for
the accuracy and adequacy of their disclosures, notwithstanding any review,
comments,
action or absence of action by the staff.

       Please contact Shannon Davis at 202-551-6687 or Ben Phippen at
202-551-3697 with
any questions.

                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Finance

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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