Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Segments and Corporate and Other Activities

The following is a summary of our segments and Corporate and Other activities as of or for the years ended December 31:

2013	U.S. Life Insurance			International Mortgage Insurance		U.S. Mortgage Insurance		International Protection		Runoff			Corporate and Other			Total
(Amounts in millions)
Premiums	$	2,957		$	996	$	554	$	636	$	5		$	—		$	5,148
Net investment income		2,621			333		60		119		139			(1	)		3,271
Net investment gains (losses)		(3	)		32		—		27		(58	)		(35	)		(37	)
Insurance and investment product fees and other		755			—		2		4		216			44			1,021
Total revenues		6,330			1,361		616		786		302			8			9,403
Benefits and other changes in policy reserves		3,975			317		412		159		32			—			4,895
Interest credited		619			—		—		—		119			—			738
Acquisition and operating expenses, net of deferrals		658			241		144		433		81			102			1,659
Amortization of deferred acquisition costs and intangibles		384			60		6		106		6			7			569
Interest expense		97			33		—		42		2			318			492
Total benefits and expenses		5,733			651		562		740		240			427			8,353
Income (loss) from continuing operations before income taxes		597			710		54		46		62			(419	)		1,050
Provision (benefit) for income taxes		213			184		17		7		13			(110	)		324
Income (loss) from continuing operations		384			526		37		39		49			(309	)		726
Loss from discontinued operations, net of taxes		—			—		—		—		—			(12	)		(12	)
Net income (loss)		384			526		37		39		49			(321	)		714
Less: net income attributable to noncontrolling interests		—			154		—		—		—			—			154
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	384		$	372	$	37	$	39	$	49		$	(321	)	$	560
Total assets	$	77,261		$	9,194	$	2,361	$	2,061	$	14,062		$	3,106		$	108,045

2012	U.S. Life Insurance			International Mortgage Insurance		U.S. Mortgage Insurance			International Protection			Runoff		Corporate and Other			Total
(Amounts in millions)
Premiums	$	2,789		$	1,016	$	549		$	682		$	5	$	—		$	5,041
Net investment income		2,594			375		68			131			145		30			3,343
Net investment gains (losses)		(8	)		16		36			6			24		(47	)		27
Insurance and investment product fees and other		875			1		23			3			207		120			1,229
Total revenues		6,250			1,408		676			822			381		103			9,640
Benefits and other changes in policy reserves		3,950			516		725			150			37		—			5,378
Interest credited		643			—		—			—			132		—			775
Acquisition and operating expenses, net of deferrals		677			55		143			483			79		157			1,594
Amortization of deferred acquisition costs and intangibles		477			64		5			113			51		12			722
Goodwill impairment		—			—		—			89			—		—			89
Interest expense		86			36		—			45			1		308			476
Total benefits and expenses		5,833			671		873			880			300		477			9,034
Income (loss) from continuing operations before income taxes		417			737		(197	)		(58	)		81		(374	)		606
Provision (benefit) for income taxes		143			188		(83	)		1			23		(134	)		138
Income (loss) from continuing operations		274			549		(114	)		(59	)		58		(240	)		468
Income from discontinued operations, net of taxes		—			—		—			—			—		57			57
Net income (loss)		274			549		(114	)		(59	)		58		(183	)		525
Less: net income attributable to noncontrolling interests		—			200		—			—			—		—			200
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	274		$	349	$	(114	)	$	(59	)	$	58	$	(183	)	$	325
Segment assets	$	79,214		$	10,063	$	2,357		$	2,145		$	15,308	$	3,786		$	112,873
Assets associated with discontinued operations		—			—		—			—			—		439			439
Total assets	$	79,214		$	10,063	$	2,357		$	2,145		$	15,308	$	4,225		$	113,312

2011	U.S. Life Insurance			International Mortgage Insurance		U.S. Mortgage Insurance			International Protection			Runoff			Corporate and Other			Total
(Amounts in millions)
Premiums	$	2,979		$	1,063	$	547		$	839		$	260		$	—		$	5,688
Net investment income		2,538			393		104			173			140			32			3,380
Net investment gains (losses)		(73	)		42		46			(1	)		(174	)		(35	)		(195	)
Insurance and investment product fees and other		686			9		5			11			299			40			1,050
Total revenues		6,130			1,507		702			1,022			525			37			9,923
Benefits and other changes in policy reserves		3,789			458		1,325			135			234			—			5,941
Interest credited		659			—		—			—			135			—			794
Acquisition and operating expenses, net of deferrals		736			248		156			590			142			58			1,930
Amortization of deferred acquisition costs and intangibles		297			66		5			143			70			12			593
Goodwill impairment		—			—		—			—			—			29			29
Interest expense		104			31		—			38			2			331			506
Total benefits and expenses		5,585			803		1,486			906			583			430			9,793
Income (loss) from continuing operations before income taxes		545			704		(784	)		116			(58	)		(393	)		130
Provision (benefit) for income taxes		189			212		(290	)		26			(21	)		(127	)		(11	)
Income (loss) from continuing operations		356			492		(494	)		90			(37	)		(266	)		141
Income from discontinued operations, net of taxes		—			—		—			—			—			36			36
Net income (loss)		356			492		(494	)		90			(37	)		(230	)		177
Less: net income attributable to noncontrolling interests		—			139		—			—			—			—			139
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	356		$	353	$	(494	)	$	90		$	(37	)	$	(230	)	$	38

Summary of Revenues of Major Product Groups for Segments and Corporate and Other Activities

The following is a summary of revenues of major product groups for our segments and Corporate and Other activities for the years ended December 31:

(Amounts in millions)	2013		2012		2011
Revenues:
U.S. Life Insurance segment:
Life insurance	$	1,982	$	1,926	$	2,042
Long-term care insurance		3,316		3,207		3,002
Fixed annuities		1,032		1,117		1,086
U.S. Life Insurance segment’s revenues		6,330		6,250		6,130
International Mortgage Insurance segment:
Canada		760		786		823
Australia		555		567		612
Other Countries		46		55		72
International Mortgage Insurance segment’s revenues		1,361		1,408		1,507
U.S. Mortgage Insurance segment’s revenues		616		676		702
International Protection segment’s revenues		786		822		1,022
Runoff segment’s revenues		302		381		525
Corporate and Other’s revenues		8		103		37
Total revenues	$	9,403	$	9,640	$	9,923

Summary of Net Operating Income (Loss) Available to Company's Common Stockholders for Segments and Corporate and Other Activities

The following is a summary of net operating income (loss) for our segments and Corporate and Other activities for the years ended December 31:

(Amounts in millions)	2013			2012			2011
U.S. Life Insurance segment:
Life insurance	$	173		$	151		$	180
Long-term care insurance		129			101			99
Fixed annuities		92			82			78
U.S. Life Insurance segment’s net operating income		394			334			357
International Mortgage Insurance segment:
Canada		170			234			159
Australia		228			142			196
Other Countries		(37	)		(34	)		(27	)
International Mortgage Insurance segment’s net operating income		361			342			328
U.S. Mortgage Insurance segment’s net operating income (loss)		37			(138	)		(524	)
International Protection segment’s net operating income		24			24			91
Runoff segment’s net operating income		66			46			27
Corporate and Other’s net operating loss		(266	)		(205	)		(225	)
Net operating income		616			403			54
Net investment gains (losses), net of taxes and other adjustments		(11	)		(1	)		(100	)
Goodwill impairment, net of taxes		—			(86	)		(19	)
Gain on sale of business, net of taxes		—			—			36
Expenses related to restructuring, net of taxes		(13	)		—			—
Gains (losses) on early extinguishment of debt, net of taxes		(20	)		(1	)		31
Gains (losses) from life block transactions, net of taxes		—			(47	)		—
Income (loss) from discontinued operations, net of taxes		(12	)		57			36
Net income available to Genworth Financial, Inc.’s common stockholders		560			325			38
Add: net income attributable to noncontrolling interests		154			200			139
Net income	$	714		$	525		$	177

Schedule of Revenue, Net Income and Assets by Geographic Location

The following is a summary of geographic region activity as of or for the years ended December 31:

2013								Other Countries
(Amounts in millions)	United States			Canada		Australia					Total
Total revenues	$	7,256		$	760	$	555	$	832		$	9,403
Income from continuing operations	$	161		$	336	$	227	$	2		$	726
Net income	$	149		$	336	$	227	$	2		$	714
Total assets	$	96,790		$	5,313	$	3,419	$	2,523		$	108,045
2012								Other Countries
(Amounts in millions)	United States			Canada		Australia					Total
Total revenues	$	7,410		$	786	$	567	$	877		$	9,640
Income (loss) from continuing operations	$	(22	)	$	439	$	140	$	(89	)	$	468
Net income (loss)	$	35		$	439	$	140	$	(89	)	$	525
Segment assets	$	100,665		$	5,678	$	3,885	$	2,645		$	112,873
Assets associated with discontinued operations	$	439		$	—	$	—	$	—		$	439
Total assets	$	101,104		$	5,678	$	3,885	$	2,645		$	113,312
2011								Other Countries
(Amounts in millions)	United States			Canada		Australia					Total
Total revenues	$	7,394		$	823	$	612	$	1,094		$	9,923
Income (loss) from continuing operations	$	(441	)	$	301	$	218	$	63		$	141
Net income (loss)	$	(405	)	$	301	$	218	$	63		$	177