EX-12 2 d461478dex12.htm EX-12 EX-12

Exhibit 12

Genworth Financial, Inc.

Statement of Ratio of Income to Fixed Charges

(Dollar amounts in millions)

 

     Nine months ended
September 30, 2017		      Years ended December 31,  
        2016      2015     2014     2013      2012  

Income (loss) from continuing operations before income taxes and accounting changes

    $ 1,019      $ 320      $ (15 )    $ (1,299 )    $ 993      $ 645  

Less: income attributable to noncontrolling interests before income taxes

      272      289      259     262     210      270
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests

    $ 747      $ 31      $ (274 )    $ (1,561 )    $ 783      $ 375  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Fixed charges included in income (loss) from continuing operations:

                

Interest expense

    $ 201      $ 324      $ 407     $ 418     $ 440      $ 422  

Interest portion of rental expense

      4      6      6     8     8      9
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Subtotal

      205      330      413     426     448      431

Interest credited to investment contractholders

      494      696      720     737     738      775
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Total fixed charges from continuing operations

    $ 699      $ 1,026      $ 1,133     $ 1,163     $ 1,186      $ 1,206  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders)

    $ 1,446      $ 1,057      $ 859     $ (398 )    $ 1,969      $ 1,581  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (including interest credited to investment contractholders)

      2.07        1.03        0.76       (0.34 )      1.66        1.31  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders)

    $ 952      $ 361      $ 139     $ (1,135 )    $ 1,231      $ 806  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (excluding interest credited to investment contractholders)

      4.64        1.09        0.34       (2.66 )      2.75        1.87  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

For the years ended December 31, 2015 and 2014, our deficiency in income necessary to cover fixed charges was $274 million and $1,561 million, respectively.