Earnings per Common Share

9 Months Ended

Sep. 30, 2022

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)	2022		2021		2022		2021
Earnings
Net income (loss) available to common shareholders:
Income (loss) from continuing operations	$	69	$	371	$	296	$	2,373
Less: Preferred stock dividends	14		14		32		32
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	(138)		214		(20)		661
Income (loss) from continuing operations available to common shareholders	193		143		284		1,680
Income (loss) from discontinued operations, net of tax	—		(1)		—		7
Net income (loss) available to common shareholders	$	193	$	142	$	284	$	1,687
Weighted average common shares outstanding
Basic	97.9		113.4		101.9		118.8
Dilutive Effect:
Warrants	6.2		6.7		7.2		6.5
RSU awards	0.9		1.0		0.9		1.0
PSU awards	0.9		0.7		0.8		0.8
Stock Options	0.5		0.6		0.6		0.7
Diluted	106.4		122.4		111.4		127.8
Basic(1)
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders	$	1.98	$	1.25	$	2.79	$	14.13
Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders	$	—	$	(0.01)	$	—	$	0.06
Income (loss) available to Voya Financial, Inc.'s common shareholders	$	1.98	$	1.24	$	2.79	$	14.19
Diluted(1)
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders	$	1.82	$	1.16	$	2.55	$	13.14
Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders	$	—	$	(0.01)	$	—	$	0.05
Income (loss) available to Voya Financial, Inc.'s common shareholders	$	1.82	$	1.15	$	2.55	$	13.19

(1) 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.