v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Fixed maturity securities available-for-sale, at fair value (amortized cost of $49,281 and $49,365, respectively, and allowance for credit losses of $7 as of March 31, 2024 and December 31, 2023) $ 46,065 $ 46,781
Equity securities, at fair value 427 396
Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of March 31, 2024 and December 31, 2023) 6,748 6,829
Less: Allowance for credit losses (29) (27)
Commercial mortgage loans, net 6,719 6,802
Policy loans 2,219 2,220
Limited partnerships 2,949 2,821
Other invested assets 683 731
Total investments 59,062 59,751
Cash, cash equivalents and restricted cash 1,952 2,215
Accrued investment income 707 647
Deferred acquisition costs 1,934 1,988
Intangible assets 197 198
Reinsurance recoverable 18,315 19,054
Less: Allowance for credit losses (27) (29)
Reinsurance recoverable, net 18,288 19,025
Other assets 516 489
Deferred tax asset 1,839 1,952
Market risk benefit assets 52 43
Separate account assets 4,645 4,509
Total assets 89,192 90,817
Liabilities and equity    
Future policy benefits 55,545 57,655
Policyholder account balances 15,315 15,540
Market risk benefit liabilities 528 625
Liability for policy and contract claims 673 652
Unearned premiums 139 149
Other liabilities 1,889 1,768
Long-term borrowings 1,579 1,584
Separate account liabilities 4,645 4,509
Total liabilities 80,313 82,482
Commitments and contingencies (Note 16)
Equity:    
Class A common stock, $0.001 par value; 1,500,000,000 shares authorized; 606,168,754 and 603,151,611 shares issued as of March 31, 2024 and December 31, 2023, respectively; 439,599,677 and 446,823,204 shares outstanding as of March 31, 2024 and December 31, 2023, respectively 1 1
Additional paid-in capital 11,873 11,884
Accumulated other comprehensive income (loss) (2,094) (2,555)
Retained earnings 1,352 1,213
Treasury stock, at cost (166,569,077 and 156,328,407 shares as of March 31, 2024 and December 31, 2023, respectively) (3,126) (3,063)
Total Genworth Financial, Inc.'s stockholders' equity 8,006 7,480
Noncontrolling interests 873 855
Total equity 8,879 8,335
Total liabilities and equity $ 89,192 $ 90,817

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