Earnings per Common Share Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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:

(in millions, except for per share data)	Year Ended December 31,
Earnings	2024		2023		2022
Net income (loss) available to common shareholders:
Net income (loss)	$	742	$	729	$	433
Less: Preferred stock dividends	41		36		36
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	75		104		(77)
Net income (loss) available to common shareholders	$	626	$	589	$	474
Weighted-average common shares outstanding
Basic	99.2		102.7		100.7
Dilutive Effects:
Warrants(1)	—		3.3		7.2
RSUs	1.1		1.2		0.9
PSUs	0.7		1.1		0.8
Stock Options	0.4		0.5		0.6
Diluted	101.4		108.8		110.2
Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share (2)
Basic	$	6.31	$	5.74	$	4.70
Diluted	$	6.17	$	5.42	$	4.30

(1) See the Shareholders' Equity Note to these Consolidated Financial Statements for additional information on warrants settled.

(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, performance share units and warrants using the treasury stock method.