The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X, Rule 3-10, "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered" ("Rule 3-10"). The condensed consolidating financial information presents the financial position of Voya Financial, Inc. ("Parent Issuer"), Voya Holdings ("Subsidiary Guarantor") and all other subsidiaries ("Non-Guarantor Subsidiaries") of the Company as of December 31, 2019 and 2018, and their results of operations, comprehensive income and cash flows for the years ended December 31, 2019, 2018 and 2017.

The 5.7% senior notes due 2043, the 3.65% senior notes due 2026, the 4.8% senior notes due 2046, the 3.125% senior notes due 2024 (collectively, the "Senior Notes"), the 5.65% fixed-to-floating rate junior subordinated notes due 2053 and the 4.7% fixed-to-floating junior subordinated notes due 2048 (collectively, the "Junior Subordinated Notes"), each issued by Parent Issuer, are fully and unconditionally guaranteed by Subsidiary Guarantor, a 100% owned subsidiary of Parent Issuer. No other subsidiary of Parent Issuer guarantees the Senior Notes or the Junior Subordinated Notes. Rule 3-10(h) provides that a guarantee is full and unconditional if, when the issuer of a guaranteed security has failed to make a scheduled payment, the guarantor is obligated to make the scheduled payment immediately and, if it does not, any holder of the guaranteed security may immediately bring suit directly against the guarantor for payment of amounts due and payable. In the event that Parent Issuer does not fulfill the guaranteed obligations, any holder of the Senior Notes or the Junior Subordinated Notes may immediately bring a claim against Subsidiary Guarantor for amounts due and payable.

The following condensed consolidating financial information is presented in conformance with the components of the Consolidated Financial Statements. Investments in subsidiaries are accounted for using the equity method for purposes of illustrating the consolidating presentation. Equity in the subsidiaries is therefore reflected in the Parent Issuer's and Subsidiary Guarantor's Investment in subsidiaries and Equity in earnings of subsidiaries. Non-Guarantor Subsidiaries represent all other subsidiaries on a combined basis. The consolidating adjustments presented herein eliminate investments in subsidiaries and intercompany balances and transactions.

December 31, 2019



	Parent Issuer		Subsidiary Guarantor		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Assets:
Investments:
Fixed maturities, available-for-sale, at fair value	$	5	$	—	$	39,673	$	(15	)	$	39,663
Fixed maturities, at fair value using the fair value option	—		—		2,707		—			2,707
Equity securities, at fair value	—		—		196		—			196
Short-term investments	—		—		68		—			68
Mortgage loans on real estate, net of valuation allowance	—		—		6,878		—			6,878
Policy loans	—		—		776		—			776
Limited partnerships/corporations	4		—		1,286		—			1,290
Derivatives	49		—		267		—			316
Investments in subsidiaries	11,003		8,493		—		(19,496		)	—
Other investments	—		—		385		—			385
Securities pledged	—		—		1,408		—			1,408
Total investments	11,061		8,493		53,644		(19,511		)	53,687
Cash and cash equivalents	212		—		969		—			1,181
Short-term investments under securities loan agreements, including collateral delivered	11		—		1,384		—			1,395
Accrued investment income	—		—		505		—			505
Premium receivable and reinsurance recoverable	—		—		3,732		—			3,732
Deferred policy acquisition costs and Value of business acquired	—		—		2,226		—			2,226
Deferred income taxes	816		39		603		—			1,458
Loans to subsidiaries and affiliates	164		—		69		(233		)	—
Due from subsidiaries and affiliates	2		—		6		(8		)	—
Other assets	7		—		895		—			902
Assets related to consolidated investment entities:
Limited partnerships/corporations, at fair value	—		—		1,632		—			1,632
Cash and cash equivalents	—		—		68		—			68
Corporate loans, at fair value using the fair value option	—		—		513		—			513
Other assets	—		—		13		—			13
Assets held in separate accounts	—		—		81,670		—			81,670
Assets held for sale	—		—		20,069		—			20,069
Total assets	$	12,273	$	8,532	$	167,998	$	(19,752	)	$	169,051



	Parent Issuer		Subsidiary Guarantor			Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Liabilities and Shareholders' Equity:
Future policy benefits	$	—	$	—		$	9,945	$	—		$	9,945
Contract owner account balances	—		—			40,923		—			40,923
Payables under securities loan and repurchase agreements, including collateral held	—		—			1,373		—			1,373
Short-term debt	69		87			78		(233		)	1
Long-term debt	2,669		371			17		(15		)	3,042
Derivatives	50		—			353		—			403
Pension and other postretirement provisions	—		—			468		—			468
Current income taxes	28		(17		)	16		—			27
Due to subsidiaries and affiliates	4		—			2		(6		)	—
Other liabilities	45		10			1,292		(2		)	1,345
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	—		—			474		—			474
Other liabilities	—		—			652		—			652
Liabilities related to separate accounts	—		—			81,670		—			81,670
Liabilities held for sale	—		—			18,498		—			18,498
Total liabilities	2,865		451			155,761		(256		)	158,821
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	9,408		8,081			11,415		(19,496		)	9,408
Noncontrolling interest	—		—			822		—			822
Total shareholders' equity	9,408		8,081			12,237		(19,496		)	10,230
Total liabilities and shareholders' equity	$	12,273	$	8,532		$	167,998	$	(19,752	)	$	169,051

December 31, 2018



	Parent Issuer			Subsidiary Guarantor		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Assets:
Investments:
Fixed maturities, available-for-sale, at fair value	$	—		$	—	$	36,912	$	(15	)	$	36,897
Fixed maturities, at fair value using the fair value option	—			—		2,233		—			2,233
Equity securities, at fair value	99			—		148		—			247
Short-term investments	—			—		126		—			126
Mortgage loans on real estate, net of valuation allowance	—			—		7,281		—			7,281
Policy loans	—			—		814		—			814
Limited partnerships/corporations	—			—		982		—			982
Derivatives	39			—		155		—			194
Investments in subsidiaries	10,099			7,060		—		(17,159		)	—
Other investments	—			—		379		—			379
Securities pledged	—			—		1,462		—			1,462
Total investments	10,237			7,060		50,492		(17,174		)	50,615
Cash and cash equivalents	209			2		1,026		—			1,237
Short-term investments under securities loan agreements, including collateral delivered	11			—		1,282		—			1,293
Accrued investment income	—			—		529		—			529
Premium receivable and reinsurance recoverable	—			—		3,843		—			3,843
Deferred policy acquisition costs and Value of business acquired	—			—		2,973		—			2,973
Current income taxes	(37		)	26		28		—			17
Deferred income taxes	553			22		1,035		—			1,610
Loans to subsidiaries and affiliates	79			—		4		(83		)	—
Due from subsidiaries and affiliates	2			—		3		(5		)	—
Other assets	13			—		1,014		—			1,027
Assets related to consolidated investment entities:
Limited partnerships/corporations, at fair value	—			—		1,421		—			1,421
Cash and cash equivalents	—			—		331		—			331
Corporate loans, at fair value using the fair value option	—			—		542		—			542
Other assets	—			—		16		—			16
Assets held in separate accounts	—			—		69,931		—			69,931
Assets held for sale	—			—		20,045		—			20,045
Total assets	$	11,067		$	7,110	$	154,515	$	(17,262	)	$	155,430

December 31, 2018



	Parent Issuer		Subsidiary Guarantor		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Liabilities and Shareholders' Equity:
Future policy benefits	$	—	$	—	$	9,587	$	—		$	9,587
Contract owner account balances	—		—		41,183		—			41,183
Payables under securities loan and repurchase agreements, including collateral held	—		—		1,366		—			1,366
Short-term debt	4		—		80		(83		)	1
Long-term debt	2,763		371		17		(15		)	3,136
Derivatives	39		—		125		—			164
Pension and other postretirement provisions	—		—		551		—			551
Due to subsidiaries and affiliates	1		—		2		(3		)	—
Other liabilities	47		55		1,275		(2		)	1,375
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	—		—		540		—			540
Other liabilities	—		—		688		—			688
Liabilities related to separate accounts	—		—		69,931		—			69,931
Liabilities held for sale	—		—		17,903		—			17,903
Total liabilities	2,854		426		143,248		(103		)	146,425
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	8,213		6,684		10,475		(17,159		)	8,213
Noncontrolling interest	—		—		792		—			792
Total shareholders' equity	8,213		6,684		11,267		(17,159		)	9,005
Total liabilities and shareholders' equity	$	11,067	$	7,110	$	154,515	$	(17,262	)	$	155,430

For the Year Ended December 31, 2019



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenues:
Net investment income	$	39		$	—		$	2,765		$	(12	)	$	2,792
Fee income	—			—			1,969			—			1,969
Premiums	—			—			2,273			—			2,273
Net realized capital gains (losses):
Total other-than-temporary impairments	—			—			(65		)	—			(65		)
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss)	—			—			(1		)	—			(1		)
Net other-than-temporary impairments recognized in earnings	—			—			(64		)	—			(64		)
Other net realized capital gains (losses)	(1		)	—			(101		)	—			(102		)
Total net realized capital gains (losses)	(1		)	—			(165		)	—			(166		)
Other revenue	—			—			465			—			465
Income (loss) related to consolidated investment entities:
Net investment income	—			—			143			—			143
Total revenues	38			—			7,450			(12		)	7,476
Benefits and expenses:
Policyholder benefits	—			—			2,583			—			2,583
Interest credited to contract owner account balances	—			—			1,167			—			1,167
Operating expenses	12			—			2,734			—			2,746
Net amortization of Deferred policy acquisition costs and Value of business acquired	—			—			199			—			199
Interest expense	151			29			8			(12		)	176
Operating expenses related to consolidated investment entities:
Interest expense	—			—			38			—			38
Other expense	—			—			7			—			7
Total benefits and expenses	163			29			6,736			(12		)	6,916
Income (loss) from continuing operations before income taxes	(125		)	(29		)	714			—			560
Income tax expense (benefit)	(277		)	(27		)	99			—			(205		)
Income (loss) from continuing operations	152			(2		)	615			—			765
Income (loss) from discontinued operations, net of tax	—			(83		)	(983		)	—			(1,066		)
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	152			(85		)	(368		)	—			(301		)
Equity in earnings (losses) of subsidiaries, net of tax	(503		)	431			—			72			—
Net income (loss)	(351		)	346			(368		)	72			(301		)
Less: Net income (loss) attributable to noncontrolling interest	—			—			50			—			50
Net income (loss) available to Voya Financial, Inc.	(351		)	346			(418		)	72			(351		)
Less: Preferred stock dividends	28			—			—			—			28
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$	(379	)	$	346		$	(418	)	$	72		$	(379	)

For the Year Ended December 31, 2018



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenues:
Net investment income	$	1		$	1		$	2,676		$	(9	)	$	2,669
Fee income	—			—			1,982			—			1,982
Premiums	—			—			2,132			—			2,132
Net realized capital gains (losses):
Total other-than-temporary impairments	—			—			(27		)	—			(27		)
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss)	—			—			1			—			1
Net other-than-temporary impairments recognized in earnings	—			—			(28		)	—			(28		)
Other net realized capital gains (losses)	—			—			(327		)	—			(327		)
Total net realized capital gains (losses)	—			—			(355		)	—			(355		)
Other revenue	(5		)	—			448			—			443
Income (loss) related to consolidated investment entities:
Net investment income	—			—			292			—			292
Total revenues	(4		)	1			7,175			(9		)	7,163
Benefits and expenses:
Policyholder benefits	—			—			2,364			—			2,364
Interest credited to contract owner account balances	—			—			1,162			—			1,162
Operating expenses	11			—			2,595			—			2,606
Net amortization of Deferred policy acquisition costs and Value of business acquired	—			—			233			—			233
Interest expense	175			53			2			(9		)	221
Operating expenses related to consolidated investment entities:
Interest expense	—			—			41			—			41
Other expense	—			—			8			—			8
Total benefits and expenses	186			53			6,405			(9		)	6,635
Income (loss) from continuing operations before income taxes	(190		)	(52		)	770			—			528
Income tax expense (benefit)	—			(24		)	400			(339		)	37
Income (loss) from continuing operations	(190		)	(28		)	370			339			491
Income (loss) from discontinued operations, net of tax	—			—			529			—			529
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(190		)	(28		)	899			339			1,020
Equity in earnings (losses) of subsidiaries, net of tax	1,065			1,615			—			(2,680		)	—
Net income (loss)	875			1,587			899			(2,341		)	1,020
Less: Net income (loss) attributable to noncontrolling interest	—			—			145			—			145
Net income (loss) available to Voya Financial, Inc.	875			1,587			754			(2,341		)	875
Less: Preferred stock dividends	—			—			—			—			—
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$	875		$	1,587		$	754		$	(2,341	)	$	875

For the Year Ended December 31, 2017



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenues:
Net investment income	$	33		$	—		$	2,621		$	(13	)	$	2,641
Fee income	—			—			1,889			—			1,889
Premiums	—			—			2,097			—			2,097
Net realized capital gains (losses):
Total other-than-temporary impairments	—			—			(29		)	—			(29		)
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss)	—			—			(9		)	—			(9		)
Net other-than-temporary impairments recognized in earnings	—			—			(20		)	—			(20		)
Other net realized capital gains (losses)	—			—			(189		)	—			(189		)
Total net realized capital gains (losses)	—			—			(209		)	—			(209		)
Other revenue	8			1			370			—			379
Income (loss) related to consolidated investment entities:
Net investment income	—			—			432			—			432
Total revenues	41			1			7,200			(13		)	7,229
Benefits and expenses:
Policyholder benefits	—			—			2,422			—			2,422
Interest credited to contract owner account balances	—			—			1,236			—			1,236
Operating expenses	9			—			2,553			—			2,562
Net amortization of Deferred policy acquisition costs and Value of business acquired	—			—			353			—			353
Interest expense	155			37			5			(13		)	184
Operating expenses related to consolidated investment entities:
Interest expense	—			—			80			—			80
Other expense	—			—			7			—			7
Total benefits and expenses	164			37			6,656			(13		)	6,844
Income (loss) from continuing operations before income taxes	(123		)	(36		)	544			—			385
Income tax expense (benefit)	113			3			571			—			687
Income (loss) from continuing operations	(236		)	(39		)	(27		)	—			(302		)
Income (loss) from discontinued operations, net of tax	—			—			(2,473		)	—			(2,473		)
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(236		)	(39		)	(2,500		)	—			(2,775		)
Equity in earnings (losses) of subsidiaries, net of tax	(2,756		)	(2,623		)	—			5,379			—
Net income (loss)	(2,992		)	(2,662		)	(2,500		)	5,379			(2,775		)
Less: Net income (loss) attributable to noncontrolling interest	—			—			217			—			217
Net income (loss) available to Voya Financial, Inc.	(2,992		)	(2,662		)	(2,717		)	5,379			(2,992		)
Less: Preferred stock dividends	—			—			—			—			—
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$	(2,992	)	$	(2,662	)	$	(2,717	)	$	5,379		$	(2,992	)

For the Year Ended December 31, 2019



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income (loss)	$	(351	)	$	346		$	(368	)	$	72		$	(301	)
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	3,013			2,290			3,013			(5,303		)	3,013
Other-than-temporary impairments	3			2			3			(5		)	3
Pension and other postretirement benefits liability	(4		)	(2		)	(4		)	6			(4		)
Other comprehensive income (loss), before tax	3,012			2,290			3,012			(5,302		)	3,012
Income tax expense (benefit) related to items of other comprehensive income (loss)	631			479			631			(1,110		)	631
Other comprehensive income (loss), after tax	2,381			1,811			2,381			(4,192		)	2,381
Comprehensive income (loss)	2,030			2,157			2,013			(4,120		)	2,080
Less: Comprehensive income (loss) attributable to noncontrolling interest	—			—			50			—			50
Comprehensive income (loss) attributable to Voya Financial, Inc.	$	2,030		$	2,157		$	1,963		$	(4,120	)	$	2,030



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income (loss)	$	875		$	1,587		$	899		$	(2,341	)	$	1,020
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(2,810		)	(2,143		)	(2,810		)	4,953			(2,810		)
Other-than-temporary impairments	32			30			32			(62		)	32
Pension and other postretirement benefits liability	(11		)	(2		)	(11		)	13			(11		)
Other comprehensive income (loss), before tax	(2,789		)	(2,115		)	(2,789		)	4,904			(2,789		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(693		)	(412		)	(694		)	1,106			(693		)
Other comprehensive income (loss), after tax	(2,096		)	(1,703		)	(2,095		)	3,798			(2,096		)
Comprehensive income (loss)	(1,221		)	(116		)	(1,196		)	1,457			(1,076		)
Less: Comprehensive income (loss) attributable to noncontrolling interest	—			—			145			—			145
Comprehensive income (loss) attributable to Voya Financial, Inc.	$	(1,221	)	$	(116	)	$	(1,341	)	$	1,457		$	(1,221	)

For the Year Ended December 31, 2017



	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income (loss)	$	(2,992	)	$	(2,662	)	$	(2,500	)	$	5,379		$	(2,775	)
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	1,191			813			1,191			(2,004		)	1,191
Other-than-temporary impairments	(2		)	(5		)	(2		)	7			(2		)
Pension and other postretirement benefits liability	(15		)	(3		)	(15		)	18			(15		)
Other comprehensive income (loss), before tax	1,174			805			1,174			(1,979		)	1,174
Income tax expense (benefit) related to items of other comprehensive income (loss)	364			258			364			(622		)	364
Other comprehensive income (loss), after tax	810			547			810			(1,357		)	810
Comprehensive income (loss)	(2,182		)	(2,115		)	(1,690		)	4,022			(1,965		)
Less: Comprehensive income (loss) attributable to noncontrolling interest	—			—			217			—			217
Comprehensive income (loss) attributable to Voya Financial, Inc.	$	(2,182	)	$	(2,115	)	$	(1,907	)	$	4,022		$	(2,182	)

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2019

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	(110	)	$	445		$	1,430		$	(455	)	$	1,310
Cash Flows from Investing Activities:
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	—			—			6,423			—			6,423
Equity securities	156			—			7			—			163
Mortgage loans on real estate	—			—			1,153			—			1,153
Limited partnerships/corporations	—			—			205			—			205
Acquisition of:
Fixed maturities	(5		)	—			(6,450		)	—			(6,455		)
Equity securities	(35		)	—			(20		)	—			(55		)
Mortgage loans on real estate	—			—			(760		)	—			(760		)
Limited partnerships/corporations	(4		)	—			(399		)	—			(403		)
Short-term investments, net	—			—			58			—			58
Derivatives, net	—			—			(29		)	—			(29		)
Sales from consolidated investment entities	—			—			586			—			586
Purchases within consolidated investment entities	—			—			(1,385		)	—			(1,385		)
Maturity (issuance) of short-term intercompany loans, net	(85		)	—			(65		)	150			—
Return of capital contributions and dividends from subsidiaries	1,064			437			—			(1,501		)	—
Capital contributions to subsidiaries	(3		)	(57		)	—			60			—
Collateral received (delivered), net	—			—			(95		)	—			(95		)
Other, net	—			—			(35		)	—			(35		)
Net cash used in investing activities - discontinued operations	—			(128		)	(498		)	—			(626		)
Net cash provided by (used in) investing activities	1,088			252			(1,304		)	(1,291		)	(1,255		)

Condensed Consolidating Statement of Cash Flows (Continued) For the Year Ended December 31, 2019

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash Flows from Financing Activities:
Deposits received for investment contracts	—			—			4,383			—			4,383
Maturities and withdrawals from investment contracts	—			—			(5,180		)	—			(5,180		)
Settlements on deposit contracts	—			—			(8		)	—			(8		)
Repayment of debt with maturities of more than three months	(106		)	—			(7		)	—			(113		)
Net (repayments of) proceeds from short-term intercompany loans	65			87			(1		)	(151		)	—
Return of capital contributions and dividends to parent	—			(786		)	(1,171		)	1,957			—
Contributions of capital from parent	—			—			60			(60		)	—
Borrowings of consolidated investment entities	—			—			1,106			—			1,106
Repayments of borrowings of consolidated investment entities	—			—			(903		)	—			(903		)
Contributions from (distributions to) participants in consolidated investment entities	—			—			715			—			715
Proceeds from issuance of common stock, net	3			—			—			—			3
Proceeds from issuance of preferred stock, net	293			—			—			—			293
Share-based compensation	(22		)	—			—			—			(22		)
Common stock acquired - Share repurchase	(1,136		)	—			—			—			(1,136		)
Dividends paid on common stock	(44		)	—			—			—			(44		)
Dividends paid on preferred stock	(28		)	—			—			—			(28		)
Net cash provided by financing activities - discontinued operations	—			—			813			—			813
Net cash (used in) provided by financing activities	(975		)	(699		)	(193		)	1,746			(121		)
Net increase (decrease) in cash and cash equivalents	3			(2		)	(67		)	—			(66		)
Cash and cash equivalents, beginning of period	209			2			1,327			—			1,538
Cash and cash equivalents, end of period	212			—			1,260			—			1,472
Less: Cash and cash equivalents of discontinued operations, end of period	—			—			291			—			291
Cash and cash equivalents of continuing operations, end of period	$	212		$	—		$	969		$	—		$	1,181

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2018

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	(27	)	$	311		$	1,978		$	(394	)	$	1,868
Cash Flows from Investing Activities:
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	—			—			6,419			—			6,419
Equity securities, available-for-sale	34			—			118			—			152
Mortgage loans on real estate	—			—			895			—			895
Limited partnerships/corporations	—			—			318			—			318
Acquisition of:
Fixed maturities	—			—			(7,513		)	—			(7,513		)
Equity securities, available-for-sale	(36		)	—			(21		)	—			(57		)
Mortgage loans on real estate	—			—			(643		)	—			(643		)
Limited partnerships/corporations	—			—			(318		)	—			(318		)
Short-term investments, net	212			—			61			—			273
Derivatives, net	—			—			72			—			72
Sales from consolidated investments entities	—			—			1,365			—			1,365
Purchases within consolidated investment entities	—			—			(994		)	—			(994		)
Maturity (issuance) of short-term intercompany loans, net	111			—			414			(525		)	—
Return of capital contributions and dividends from subsidiaries	1,155			151			—			(1,306		)	—
Capital contributions to subsidiaries	(55		)	(55		)	—			110			—
Collateral (delivered) received, net	—			—			(28		)	—			(28		)
Other, net	(13		)	1			3			—			(9		)
Net cash provided by (used in) investing activities - discontinued operations	—			331			(545		)	—			(214		)
Net cash provided by (used in) investing activities	1,408			428			(397		)	(1,721		)	(282		)

Condensed Consolidating Statement of Cash Flows (Continued) For the Year Ended December 31, 2018

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated

Cash Flows from Financing Activities:
Deposits received for investment contracts	—			—			4,884			—			4,884
Maturities and withdrawals from investment contracts	—			—			(4,799		)	—			(4,799		)
Settlements on deposit contracts	—			—			(10		)	—			(10		)
Proceeds from issuance of debt with maturities of more than three months	350			—			(62		)	—			288
Repayment of debt with maturities of more than three months	(623		)	(87		)	33			—			(677		)
Debt issuance costs	(6		)	—			—			—			(6		)
Net (repayments of) proceeds from short-term intercompany loans	(414		)	(68		)	(43		)	525			—
Return of capital contributions and dividends to parent	—			(638		)	(1,062		)	1,700			—
Contributions of capital from parent	—			55			55			(110		)	—
Borrowings of consolidated investment entities	—			—			773			—			773
Repayments of borrowings of consolidated investment entities	—			—			(656		)	—			(656		)
Contributions from (distributions to) participants in consolidated investment entities	—			—			(166		)	—			(166		)
Proceeds from issuance of common stock, net	3			—			—			—			3
Proceeds from issuance of preferred stock, net	319			—			—			—			319
Share-based compensation	(14		)	—			—			—			(14		)
Common stock acquired - Share repurchase	(1,025		)	—			—			—			(1,025		)
Dividends paid on common stock	(6		)	—			—			—			(6		)
Net cash used in financing activities - discontinued operations	—			—			(672		)	—			(672		)
Net cash (used in) provided by financing activities	(1,416		)	(738		)	(1,725		)	2,115			(1,764		)
Net (decrease) increase in cash and cash equivalents	(35		)	1			(144		)	—			(178		)
Cash and cash equivalents, beginning of period	244			1			1,471			—			1,716
Cash and cash equivalents, end of period	209			2			1,327			—			1,538
Less: Cash and cash equivalents of discontinued operations, end of period	—			—			301			—			301
Cash and cash equivalents of continuing operations, end of period	$	209		$	2		$	1,026		$	—		$	1,237

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2017

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	(18	)	$	138		$	1,694		$	(232	)	$	1,582
Cash Flows from Investing Activities:
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	—			—			7,001			—			7,001
Equity securities, available-for-sale	25			—			29			—			54
Mortgage loans on real estate	—			—			851			—			851
Limited partnerships/corporations	—			—			211			—			211
Acquisition of:
Fixed maturities	—			—			(6,445		)	—			(6,445		)
Equity securities, available-for-sale	(34		)	—			(11		)	—			(45		)
Mortgage loans on real estate	—			—			(1,478		)	—			(1,478		)
Limited partnerships/corporations	—			—			(302		)	—			(302		)
Short-term investments, net	—			—			(28		)	—			(28		)
Derivatives, net	—			—			203			—			203
Sales from consolidated investments entities	—			—			2,047			—			2,047
Purchases within consolidated investment entities	—			—			(2,036		)	—			(2,036		)
Issuance of intercompany loans with maturities more than three months	(34		)	—			—			34			—
Maturity of intercompany loans with maturities more than three months	34			—			—			(34		)	—
Maturity (issuance) of short-term intercompany loans, net	87			—			(408		)	321			—
Return of capital contributions and dividends from subsidiaries	1,020			1,024			—			(2,044		)	—
Capital contributions to subsidiaries	(467		)	(47		)	—			514			—
Collateral (delivered) received, net	—			—			(205		)	—			(205		)
Other, net	—			—			5			—			5
Net cash used in investing activities - discontinued operations	—			—			(2,261		)	—			(2,261		)
Net cash provided by (used in) investing activities	631			977			(2,827		)	(1,209		)	(2,428		)

Condensed Consolidating Statement of Cash Flows (Continued) For the Year Ended December 31, 2017

	Parent Issuer			Subsidiary Guarantor			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash Flows from Financing Activities:
Deposits received for investment contracts	—			—			3,593			—			3,593
Maturities and withdrawals from investment contracts	—			—			(4,763		)	—			(4,763		)
Proceeds from issuance of debt with maturities of more than three months	399			—			(61		)	—			338
Repayment of debt with maturities of more than three months	(494		)	—			33			—			(461		)
Debt issuance costs	(3		)	—			—			—			(3		)
Repayments of intercompany loans with maturities of more than three months	—			—			(34		)	34			—
Proceeds of intercompany loans with maturities of more than three months	—			—			34			(34		)	—
Net proceeds from (repayments of) short-term intercompany loans	408			(143		)	56			(321		)	—
Return of capital contributions and dividends to parent	—			(1,020		)	(1,256		)	2,276			—
Contributions of capital from parent	—			47			467			(514		)	—
Borrowings of consolidated investment entities	—			—			967			—			967
Repayments of borrowings of consolidated investment entities	—			—			(804		)	—			(804		)
Contributions from (distributions to) participants in consolidated investment entities	—			—			449			—			449
Proceeds from issuance of common stock, net	3			—			—			—			3
Share-based compensation	(8		)	—			—			—			(8		)
Common stock acquired - Share repurchase	(923		)	—			—			—			(923		)
Dividends paid on common stock	(8		)	—			—			—			(8		)
Net cash provided by financing activities - discontinued operations	—			—			1,271			—			1,271
Net cash (used in) provided by financing activities	(626		)	(1,116		)	(48		)	1,441			(349		)
Net decrease in cash and cash equivalents	(13		)	(1		)	(1,181		)	—			(1,195		)
Cash and cash equivalents, beginning of period	257			2			2,652			—			2,911
Cash and cash equivalents, end of period	244			1			1,471			—			1,716
Less: Cash and cash equivalents of discontinued operations, end of period	—			—			862			—			862
Cash and cash equivalents of continuing operations, end of period	$	244		$	1		$	609		$	—		$	854