v3.24.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Fixed maturity securities available-for-sale, at fair value (amortized cost of $49,365 and $50,834,respectively, and allowance for credit losses of $7 and $—, respectively, as of December 31, 2023 and 2022) $ 46,781 $ 46,583
Equity securities, at fair value 396 319
Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of December 31, 2023 and 2022) 6,829 7,032
Less: Allowance for credit losses (27) (22)
Commercial mortgage loans, net 6,802 7,010
Policy loans 2,220 2,139
Limited partnerships 2,821 2,331
Other invested assets 731 566
Total investments 59,751 58,948
Cash, cash equivalents and restricted cash 2,215 1,799
Accrued investment income 647 643
Deferred acquisition costs 1,988 2,211
Intangible assets 198 203
Reinsurance recoverable 19,054 19,059
Less: Allowance for credit losses (29) (63)
Reinsurance recoverable, net 19,025 18,996
Other assets 489 488
Deferred tax asset 1,952 1,983
Market risk benefit assets 43 26
Separate account assets 4,509 4,417
Total assets 90,817 89,714
Liabilities and equity    
Future policy benefits 57,655 55,407
Policyholder account balances 15,540 16,564
Market risk benefit liabilities 625 748
Liability for policy and contract claims 652 683
Unearned premiums 149 203
Other liabilities 1,768 1,687
Long-term borrowings 1,584 1,611
Separate account liabilities 4,509 4,417
Liabilities related to discontinued operations 0 8
Total liabilities 82,482 81,328
Commitments and contingencies (Note 25)
Equity:    
Class A common stock, $0.001 par value; 1,500,000,000 shares authorized; 603,151,611 and 600,036,269 shares issued as of December 31, 2023 and 2022, respectively; 446,823,204 and 495,446,960 shares outstanding as of December 31, 2023 and 2022, respectively 1 1
Additional paid-in capital 11,884 11,869
Accumulated other comprehensive income (loss) (2,555) (2,614)
Retained earnings 1,213 1,139
Treasury stock, at cost (156,328,407 and 104,589,309 shares as of December 31, 2023 and 2022,respectively) (3,063) (2,764)
Total Genworth Financial, Inc.'s stockholders' equity 7,480 7,631
Noncontrolling interests 855 755
Total equity 8,335 8,386
Total liabilities and equity $ 90,817 $ 89,714

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