(11) Condensed Consolidating Financial Information

On April 1, 2013, in connection with the reorganization: (a) New Genworth provided a full and unconditional guarantee to the trustee of Genworth Holdings’ outstanding senior notes and the holders of the senior notes, on an unsecured unsubordinated basis, of the full and punctual payment of the principal of, premium, if any and interest on, and all other amounts payable under, each outstanding series of senior notes, and the full and punctual payment of all other amounts payable by Genworth Holdings under the senior notes indenture in respect of such senior notes and (b) New Genworth provided a full and unconditional guarantee to the trustee of Genworth Holdings’ outstanding subordinated notes and the holders of the subordinated notes, on an unsecured subordinated basis, of the full and punctual payment of the principal of, premium, if any and interest on, and all other amounts payable under, the outstanding subordinated notes, and the full and punctual payment of all other amounts payable by Genworth Holdings under the subordinated notes indenture in respect of the subordinated notes.

The following condensed consolidating financial information of New Genworth and its direct and indirect subsidiaries have been prepared pursuant to rules regarding the preparation of consolidating financial information of Regulation S-X. The condensed consolidating financial information has been prepared as if the guarantee had been in place during all periods presented herein.

The condensed consolidating financial information presents the condensed consolidating balance sheet information as of June 30, 2013 and December 31, 2012, the condensed consolidating income statement information and the condensed consolidating comprehensive income statement information for the three and six months ended June 30, 2013 and 2012 and the condensed consolidating cash flow statement information for the six months ended June 30, 2013 and 2012.

The condensed consolidating financial information reflects New Genworth (“Parent Guarantor”), Genworth Holdings (“Issuer”) and each of New Genworth’s other direct and indirect subsidiaries (“All Other Subsidiaries”) on a combined basis, none of which guarantee the senior notes or subordinated notes, as well as the eliminations necessary to present New Genworth’s financial information on a consolidated basis and total consolidated amounts.

The accompanying condensed consolidating financial information is presented based on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for the subsidiaries’ cumulative results of operations, capital contributions and distributions, and other changes in equity. Elimination entries include consolidating and eliminating entries for investments in subsidiaries and intercompany activity.

The following table presents the condensed consolidating balance sheet information as of June 30, 2013:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Assets
Investments
Fixed maturity securities available-for-sale, at fair value	$	—		$	151		$	58,057		$	(200	)	$	58,008
Equity securities available-for-sale, at fair value		—			—			411			—			411
Commercial mortgage loans		—			—			5,831			—			5,831
Restricted commercial mortgage loans related to securitization entities		—			—			309			—			309
Policy loans		—			—			1,671			—			1,671
Other invested assets		—			54			1,923			(1	)		1,976
Restricted other invested assets related to securitization entities		—			—			392			—			392
Investments in subsidiaries		14,619			15,750			232			(30,601	)		—

Total investments		14,619			15,955			68,826			(30,802	)		68,598

Cash and cash equivalents		—			856			2,757			—			3,613
Accrued investment income		—			—			643			(4	)		639
Deferred acquisition costs		—			—			5,237			—			5,237
Intangible assets		—			—			433			—			433
Goodwill		—			—			867			—			867
Reinsurance recoverable		—			—			17,236			—			17,236
Other assets		1			226			477			—			704
Intercompany notes receivable		1			239			458			(698	)		—
Separate account assets		—			—			9,806			—			9,806
Assets associated with discontinued operations		—			—			443			—			443

Total assets	$	14,621		$	17,276		$	107,183		$	(31,504	)	$	107,576

Liabilities and stockholders’ equity
Liabilities:
Future policy benefits	$	—		$	—		$	33,437		$	—		$	33,437
Policyholder account balances		—			—			24,935			—			24,935
Liability for policy and contract claims		—			—			7,302			—			7,302
Unearned premiums		—			—			4,022			—			4,022
Other liabilities		(1	)		353			4,284			(7	)		4,629
Intercompany notes payable		—			658			240			(898	)		—
Borrowings related to securitization entities		—			—			317			—			317
Non-recourse funding obligations		—			—			2,054			—			2,054
Long-term borrowings		—			4,188			532			—			4,720
Deferred tax liability		(67	)		(705	)		1,141			—			369
Separate account liabilities		—			—			9,806			—			9,806
Liabilities associated with discontinued operations		—			—			83			—			83

Total liabilities		(68	)		4,494			88,153			(905	)		91,674

Stockholders’ equity:
Common stock		1			—			—			—			1
Additional paid-in capital		12,139			9,315			17,659			(26,974	)		12,139
Accumulated other comprehensive income (loss)		3,142			3,103			3,130			(6,233	)		3,142
Retained earnings		2,107			364			(2,977	)		2,613			2,107
Treasury stock, at cost		(2,700	)		—			—			—			(2,700	)

Total Genworth Financial, Inc.’s stockholders’ equity		14,689			12,782			17,812			(30,594	)		14,689
Noncontrolling interests		—			—			1,218			(5	)		1,213

Total stockholders’ equity		14,689			12,782			19,030			(30,599	)		15,902

Total liabilities and stockholders’ equity	$	14,621		$	17,276		$	107,183		$	(31,504	)	$	107,576

The following table presents the condensed consolidating balance sheet information as of December 31, 2012:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Assets
Fixed maturity securities available-for-sale, at fair value	$	—		$	151		$	62,210		$	(200	)	$	62,161
Equity securities available-for-sale, at fair value		—			—			518			—			518
Commercial mortgage loans		—			—			5,872			—			5,872
Restricted commercial mortgage loans related to securitization entities		—			—			341			—			341
Policy loans		—			—			1,601			—			1,601
Other invested assets		—			5			3,488			—			3,493
Restricted other invested assets related to securitization entities		—			—			393			—			393
Investments in subsidiaries		16,429			17,725			—			(34,154	)		—

Total investments		16,429			17,881			74,423			(34,354	)		74,379
Cash and cash equivalents		—			843			2,789			—			3,632
Accrued investment income		—			—			719			(4	)		715
Deferred acquisition costs		—			—			5,036			—			5,036
Intangible assets		—			—			366			—			366
Goodwill		—			—			868			—			868
Reinsurance recoverable		—			—			17,230			—			17,230
Other assets		1			294			417			(2	)		710
Intercompany notes receivable		—			254			488			(742	)		—
Separate account assets		—			—			9,937			—			9,937
Assets associated with discontinued operations		—			—			439			—			439

Total assets	$	16,430		$	19,272		$	112,712		$	(35,102	)	$	113,312

Liabilities and stockholders’ equity
Liabilities:
Future policy benefits	$	—		$	—		$	33,505		$	—		$	33,505
Policyholder account balances		—			—			26,262			—			26,262
Liability for policy and contract claims		—			—			7,509			—			7,509
Unearned premiums		—			—			4,333			—			4,333
Other liabilities		1			342			4,901			(5	)		5,239
Intercompany notes payable		—			688			254			(942	)		—
Borrowings related to securitization entities		—			—			336			—			336
Non-recourse funding obligations		—			—			2,066			—			2,066
Long-term borrowings		—			4,203			573			—			4,776
Deferred tax liability		(64	)		(672	)		2,243			—			1,507
Separate account liabilities		—			—			9,937			—			9,937
Liabilities associated with discontinued operations		—			—			61			—			61

Total liabilities		(63	)		4,561			91,980			(947	)		95,531

Stockholders’ equity:
Common stock		1			—			—			—			1
Additional paid-in capital		12,127			9,311			16,777			(26,088	)		12,127
Accumulated other comprehensive income (loss)		5,202			5,100			5,197			(10,297	)		5,202
Retained earnings		1,863			300			(2,535	)		2,235			1,863
Treasury stock, at cost		(2,700	)		—			—			—			(2,700	)

Total Genworth Financial, Inc.’s stockholders’ equity		16,493			14,711			19,439			(34,150	)		16,493
Noncontrolling interests		—			—			1,293			(5	)		1,288

Total stockholders’ equity		16,493			14,711			20,732			(34,155	)		17,781

Total liabilities and stockholders’ equity	$	16,430		$	19,272		$	112,712		$	(35,102	)	$	113,312

The following table presents the condensed consolidating income statement information for the three months ended June 30, 2013:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries		Eliminations			Consolidated
Revenues:
Premiums	$	—		$	—		$	1,286	$	—		$	1,286
Net investment income		(1	)		1			824		(3	)		821
Net investment gains (losses)		—			7			14		—			21
Insurance and investment product fees and other		—			—			245		(2	)		243

Total revenues		(1	)		8			2,369		(5	)		2,371

Benefits and expenses:
Benefits and other changes in policy reserves		—			—			1,269		—			1,269
Interest credited		—			—			184		—			184
Acquisition and operating expenses, net of deferrals		10			1			402		—			413
Amortization of deferred acquisition costs and intangibles		—			—			137		—			137
Interest expense		—			79			47		(5	)		121

Total benefits and expenses		10			80			2,039		(5	)		2,124

Income (loss) from continuing operations before income taxes and equity in income of subsidiaries		(11	)		(72	)		330		—			247
Provision (benefit) for income taxes		(5	)		(14	)		92		—			73
Equity in income of subsidiaries		147			194			—		(341	)		—

Income (loss) from continuing operations		141			136			238		(341	)		174
Income (loss) from discontinued operations, net of taxes		—			(9	)		15		—			6

Net income (loss)		141			127			253		(341	)		180
Less: net income attributable to noncontrolling interests		—			—			39		—			39

Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	141		$	127		$	214	$	(341	)	$	141

The following table presents the condensed consolidating income statement information for the three months ended June 30, 2012:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Revenues:
Premiums	$	—		$	—		$	1,302		$	—		$	1,302
Net investment income		—			—			849			(3	)		846
Net investment gains (losses)		—			1			(34	)		—			(33	)
Insurance and investment product fees and other		—			—			287			—			287

Total revenues		—			1			2,404			(3	)		2,402

Benefits and expenses:
Benefits and other changes in policy reserves		—			—			1,382			—			1,382
Interest credited		—			—			194			—			194
Acquisition and operating expenses, net of deferrals		2			—			437			—			439
Amortization of deferred acquisition costs and intangibles		—			—			147			—			147
Interest expense		—			84			50			(3	)		131

Total benefits and expenses		2			84			2,210			(3	)		2,293

Income (loss) from continuing operations before income taxes and equity in income of subsidiaries		(2	)		(83	)		194			—			109
Provision (benefit) for income taxes		—			(32	)		59			—			27
Equity in income of subsidiaries		78			150			—			(228	)		—

Income (loss) from continuing operations		76			99			135			(228	)		82
Income from discontinued operations, net of taxes		—			—			27			—			27

Net income (loss)		76			99			162			(228	)		109
Less: net income attributable to noncontrolling interests		—			—			33			—			33

Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	76		$	99		$	129		$	(228	)	$	76

The following table presents the condensed consolidating income statement information for the six months ended June 30, 2013:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Revenues:
Premiums	$	—		$	—		$	2,547		$	—		$	2,547
Net investment income		(1	)		1			1,642			(7	)		1,635
Net investment gains (losses)		—			3			(43	)		—			(40	)
Insurance and investment product fees and other		—			—			535			(3	)		532

Total revenues		(1	)		4			4,681			(10	)		4,674

Benefits and expenses:
Benefits and other changes in policy reserves		—			—			2,470			—			2,470
Interest credited		—			—			368			—			368
Acquisition and operating expenses, net of deferrals		10			1			835			—			846
Amortization of deferred acquisition costs and intangibles		—			—			259			—			259
Interest expense		—			159			98			(10	)		247

Total benefits and expenses		10			160			4,030			(10	)		4,190

Income (loss) from continuing operations before income taxes and equity in income of subsidiaries		(11	)		(156	)		651			—			484
Provision (benefit) for income taxes		(5	)		(53	)		207			—			149
Equity in income of subsidiaries		250			316			—			(566	)		—

Income (loss) from continuing operations		244			213			444			(566	)		335
Loss from discontinued operations, net of taxes		—			(14	)		—			—			(14	)

Net income (loss)		244			199			444			(566	)		321
Less: net income attributable to noncontrolling interests		—			—			77			—			77

Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	244		$	199		$	367		$	(566	)	$	244

The following table presents the condensed consolidating income statement information for the six months ended June 30, 2012:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries		Eliminations			Consolidated
Revenues:
Premiums	$	—		$	—		$	2,408	$	—		$	2,408
Net investment income		—			—			1,685		(7	)		1,678
Net investment gains (losses)		—			(21	)		25		—			4
Insurance and investment product fees and other		—			(1	)		628		—			627

Total revenues		—			(22	)		4,746		(7	)		4,717

Benefits and expenses:
Benefits and other changes in policy reserves		—			—			2,614		—			2,614
Interest credited		—			—			389		—			389
Acquisition and operating expenses, net of deferrals		5			—			874		—			879
Amortization of deferred acquisition costs and intangibles		—			—			418		—			418
Interest expense		—			153			80		(7	)		226

Total benefits and expenses		5			153			4,375		(7	)		4,526

Income (loss) from continuing operations before income taxes and equity in income of subsidiaries		(5	)		(175	)		371		—			191
Provision (benefit) for income taxes		(1	)		(62	)		105		—			42
Equity in income of subsidiaries		126			275			—		(401	)		—

Income (loss) from continuing operations, net of taxes		122			162			266		(401	)		149
Income from discontinued operations, net of taxes		—			—			39		—			39

Net income (loss)		122			162			305		(401	)		188
Less: net income attributable to noncontrolling interests		—			—			66		—			66

Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	122		$	162		$	239	$	(401	)	$	122

The following table presents the condensed consolidating comprehensive income statement information for the three months ended June 30, 2013:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Net income	$	141		$	127		$	253		$	(341	)	$	180
Other comprehensive income (loss):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		(1,175	)		(1,136	)		(1,212	)		2,307			(1,216	)
Net unrealized gains (losses) on other-than-temporarily impaired securities		26			26			26			(52	)		26
Derivatives qualifying as hedges		(218	)		(218	)		(230	)		448			(218	)
Foreign currency translation and other adjustments		(315	)		(303	)		(352	)		617			(353	)

Total other comprehensive income (loss)		(1,682	)		(1,631	)		(1,768	)		3,320			(1,761	)

Total comprehensive income (loss)		(1,541	)		(1,504	)		(1,515	)		2,979			(1,581	)
Less: comprehensive income attributable to noncontrolling interests		—			—			(40	)		—			(40	)

Total comprehensive income (loss) available to Genworth Financial, Inc.’s common stockholders	$	(1,541	)	$	(1,504	)	$	(1,475	)	$	2,979		$	(1,541	)

The following table presents the condensed consolidating comprehensive income statement information for the three months ended June 30, 2012:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Net income	$	76		$	99		$	162		$	(228	)	$	109
Other comprehensive income (loss):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		694			690			697			(1,384	)		697
Net unrealized gains (losses) on other-than-temporarily impaired securities		(5	)		(5	)		(6	)		11			(5	)
Derivatives qualifying as hedges		407			407			407			(814	)		407
Foreign currency translation and other adjustments		(99	)		(87	)		(118	)		185			(119	)

Total other comprehensive income (loss)		997			1,005			980			(2,002	)		980

Total comprehensive income (loss)		1,073			1,104			1,142			(2,230	)		1,089
Less: comprehensive income attributable to noncontrolling interests		—			—			16			—			16

Total comprehensive income (loss)available to Genworth Financial, Inc.’s common stockholders	$	1,073		$	1,104		$	1,126		$	(2,230	)	$	1,073

The following table presents the condensed consolidating comprehensive income statement information for the six months ended June 30, 2013:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Net income	$	244		$	199		$	444		$	(566	)	$	321
Other comprehensive income (loss):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		(1,396	)		(1,363	)		(1,429	)		2,755			(1,433	)
Net unrealized gains (losses) on other-than-temporarily impaired securities		52			52			52			(104	)		52
Derivatives qualifying as hedges		(328	)		(328	)		(340	)		668			(328	)
Foreign currency translation and other adjustments		(388	)		(358	)		(456	)		745			(457	)

Total other comprehensive income (loss)		(2,060	)		(1,997	)		(2,173	)		4,064			(2,166	)

Total comprehensive income (loss)		(1,816	)		(1,798	)		(1,729	)		3,498			(1,845	)
Less: comprehensive income attributable to noncontrolling interests		—			—			(29	)		—			(29	)

Total comprehensive income (loss) available to Genworth Financial, Inc.’s common stockholders	$	(1,816	)	$	(1,798	)	$	(1,700	)	$	3,498		$	(1,816	)

The following table presents the condensed consolidating comprehensive income statement information for the six months ended June 30, 2012:


(Amounts in millions)	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Net income	$	122		$	162		$	305		$	(401	)	$	188
Other comprehensive income (loss):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		515			506			512			(1,021	)		512
Net unrealized gains (losses) on other-than-temporarily impaired securities		16			16			16			(32	)		16
Derivatives qualifying as hedges		78			78			79			(157	)		78
Foreign currency translation and other adjustments		(3	)		(5	)		(2	)		7			(3	)

Total other comprehensive income (loss)		606			595			605			(1,203	)		603

Total comprehensive income (loss)		728			757			910			(1,604	)		791
Less: comprehensive income attributable to noncontrolling interests		—			—			63			—			63

Total comprehensive income (loss) available to Genworth Financial, Inc.’s common stockholders	$	728		$	757		$	847		$	(1,604	)	$	728

The following table presents the condensed consolidating cash flow statement information for the six months ended June 30, 2013:


	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	244		$	199		$	444		$	(566	)	$	321
Less income from discontinued operations, net of taxes		—			14			—			—			14
Adjustments to reconcile net income to net cash from operating activities:
Equity in income from subsidiaries		(250	)		(316	)		—			566			—
Dividends from subsidiaries		135			150			(285	)		—			—
Amortization of fixed maturity discounts and premiums and limited partnerships		—			—			(40	)		—			(40	)
Net investment losses (gains)		—			(3	)		43			—			40
Charges assessed to policyholders		—			(3	)		(401	)		—			(404	)
Acquisition costs deferred		—			—			(212	)		—			(212	)
Amortization of deferred acquisition costs and intangibles		—			—			259			—			259
Deferred income taxes		(3	)		(46	)		(164	)		—			(213	)
Net increase (decrease) in trading securities, held-for-sale investments and derivative instruments		—			—			35			—			35
Stock-based compensation expense		11			—			6			—			17
Change in certain assets and liabilities:
Accrued investment income and other assets		(1	)		68			(46	)		—			21
Insurance reserves		—			—			1,183			—			1,183
Current tax liabilities		—			(7	)		267			—			260
Other liabilities and other policy-related balances		(4	)		26			(660	)		—			(638	)
Cash from operating activities—discontinued operations		—			(14	)		17			—			3

Net cash from operating activities		132			68			446			—			646

Cash flows from investing activities:
Proceeds from maturities and repayments of investments:
Fixed maturity securities		—			—			2,820			—			2,820
Commercial mortgage loans		—			—			474			—			474
Restricted commercial mortgage loans related to securitization entities		—			—			31			—			31
Proceeds from sales of investments:
Fixed maturity and equity securities		—			—			2,245			—			2,245
Purchases and originations of investments:
Fixed maturity and equity securities		—			—			(4,558	)		—			(4,558	)
Commercial mortgage loans		—			—			(431	)		—			(431	)
Other invested assets, net		—			—			113			—			113
Policy loans, net		—			—			(1	)		—			(1	)
Intercompany notes receivable		(1	)		15			30			(44	)		—
Capital contributions to subsidiaries		(131	)		(1	)		132			—			—
Proceeds from sale of a subsidiary, net of cash transferred		—			—			25			—			25
Cash from investing activities—discontinued operations		—			—			—			—			—

Net cash from investing activities		(132	)		14			880			(44	)		718

Cash flows from financing activities:
Deposits to universal life and investment contracts		—			—			920			—			920
Withdrawals from universal life and investment contracts		—			—			(2,059	)		—			(2,059	)
Redemption and repurchase of non-recourse funding obligations		—			—			(12	)		—			(12	)
Repayment and repurchase of long-term debt		—			(15	)		—			—			(15	)
Repayment of borrowings related to securitization entities		—			—			(32	)		—			(32	)
Repurchase of subsidiary shares		—			—			(21	)		—			(21	)
Dividends paid to noncontrolling interests		—			—			(26	)		—			(26	)
Proceeds from intercompany notes payable		—			(30	)		(14	)		44			—
Other, net		—			(24	)		7			—			(17	)
Cash from financing activities—discontinued operations		—			—			—			—			—

Net cash from financing activities		—			(69	)		(1,237	)		44			(1,262	)

Effect of exchange rate changes on cash and cash equivalents		—			—			(118	)		—			(118	)

Net change in cash and cash equivalents		—			13			(29	)		—			(16	)
Cash and cash equivalents at beginning of period		—			843			2,810			—			3,653

Cash and cash equivalents at end of period		—			856			2,781			—			3,637
Less cash and cash equivalents of discontinued operations at end of period		—			—			24			—			24

Cash and cash equivalents of continuing operations at end of period	$	—		$	856		$	2,757		$	—		$	3,613

The following table presents the condensed consolidating cash flow statement information for the six months ended June 30, 2012:


	Parent Guarantor			Issuer			All Other Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	122		$	162		$	305		$	(401	)	$	188
Less income from discontinued operations, net of taxes		—						(39	)					(39	)
Adjustments to reconcile net income to net cash from operating activities:
Equity in income from subsidiaries		(126	)		(275	)		—			401			—
Dividends from subsidiaries		—			187			(187	)		—			—
Amortization of fixed maturity discounts and premiums and limited partnerships		—			—			(49	)		—			(49	)
Net investment losses (gains)		—			21			(25	)		—			(4	)
Charges assessed to policyholders		—			—			(388	)		—			(388	)
Acquisition costs deferred		—			—			(309	)		—			(309	)
Amortization of deferred acquisition costs and intangibles		—			—			418			—			418
Deferred income taxes		(1	)		(52	)		100			—			47
Net increase (decrease) in trading securities, held- for-sale investments and derivative instruments		—			(19	)		112			—			93
Stock-based compensation expense		5			7			1			—			13
Change in certain assets and liabilities:
Accrued investment income and other assets		—			(34	)		43			—			9
Insurance reserves		—			—			1,001			—			1,001
Current tax liabilities		—			172			(369	)		—			(197	)
Other liabilities and other policy-related balances		—			9			(616	)		2			(605	)
Cash from operating activities—discontinued operations		—			—			42			—			42

Net cash from operating activities		—			178			40			2			220

Cash flows from investing activities:
Proceeds from maturities and repayments of investments:
Fixed maturity securities		—			—			2,366			—			2,366
Commercial mortgage loans		—			—			391			—			391
Restricted commercial mortgage loans related to securitization entities		—			—			25			—			25
Proceeds from sales of investments:
Fixed maturity and equity securities		—			10			2,528			—			2,538
Purchases and originations of investments:
Fixed maturity and equity securities		—			(150	)		(5,436	)		—			(5,586	)
Commercial mortgage loans		—			—			(184	)		—			(184	)
Other invested assets, net		—			30			350			(2	)		378
Policy loans, net		—			—			(70	)		—			(70	)
Proceeds from sale of a subsidiary, net of cash transferred		—			—			77			—			77
Intercompany notes receivable		—			(24	)		50			(26	)		—
Cash from investing activities—discontinued operations		—			(16	)		(25	)		—			(41	)

Net cash from investing activities		—			(150	)		72			(28	)		(106	)

Cash flows from financing activities:
Deposits to universal life and investment contracts		—			—			1,351			—			1,351
Withdrawals from universal life and investment contracts		—			—			(1,506	)		—			(1,506	)
Redemption and repurchase of non-recourse funding obligations		—			—			(567	)		—			(567	)
Proceeds from the issuance of long-term debt		—			361			—			—			361
Repayment and repurchase of long-term debt		—			(222	)		—			—			(222	)
Repayment of borrowings related to securitization entities		—			—			(29	)		—			(29	)
Dividends paid to noncontrolling interests		—			—			(24	)		—			(24	)
Proceeds from intercompany notes payable		—			(50	)		24			26			—
Other, net		—			(24	)		(39	)		—			(63	)
Cash from financing activities—discontinued operations		—			—			(26	)		—			(26	)

Net cash from financing activities		—			65			(816	)		26			(725	)

Effect of exchange rate changes on cash and cash equivalents		—			—			(3	)		—			(3	)

Net change in cash and cash equivalents		—			93			(707	)		—			(614	)
Cash and cash equivalents at beginning of period		—			907			3,581						4,488

Cash and cash equivalents at end of period		—			1,000			2,874			—			3,874
Less cash and cash equivalents of discontinued operations at end of period		—			—			20			—			20

Cash and cash equivalents of continuing operations at end of period	$	—		$	1,000		$	2,854		$	—		$	3,854