v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Fixed maturity securities available-for-sale, at fair value (amortized cost of $50,461 and $50,834, respectively, and allowance for credit losses of $15 and $—, respectively, as of March 31, 2023 and December 31, 2022) $ 47,381 $ 46,583
Equity securities, at fair value 364 319
Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of March 31, 2023 and December 31, 2022) 6,915 7,032
Less: Allowance for credit losses (24) (22)
Commercial mortgage loans, net 6,891 7,010
Policy loans 2,133 2,139
Limited partnerships 2,456 2,331
Other invested assets 617 566
Total investments 59,842 58,948
Cash, cash equivalents and restricted cash 1,752 1,799
Accrued investment income 700 643
Deferred acquisition costs 2,150 2,211
Intangible assets 203 203
Reinsurance recoverable 19,606 19,059
Less: Allowance for credit losses (64) (63)
Reinsurance recoverable, net 19,542 18,996
Other assets 478 488
Deferred tax asset 2,004 1,968
Market risk benefit assets 28 26
Separate account assets 4,479 4,417
Total assets 91,178 89,699
Liabilities and equity    
Future policy benefits 57,558 55,349
Policyholder account balances 16,202 16,564
Market risk benefit liabilities 761 748
Liability for policy and contract claims 665 683
Unearned premiums 189 203
Other liabilities 1,492 1,675
Long-term borrowings 1,600 1,611
Separate account liabilities 4,479 4,417
Liabilities related to discontinued operations 7 8
Total liabilities 82,953 81,258
Commitments and contingencies
Equity:    
Class A common stock, $0.001 par value; 1.5 billion shares authorized; 603 million and 600 million shares issued as of March 31, 2023 and December 31, 2022, respectively; 487 million and 495 million shares outstanding as of March 31, 2023 and December 31, 2022, respectively 1 1
Additional paid-in capital 11,863 11,869
Accumulated other comprehensive income (loss) (2,858) (2,617)
Retained earnings 1,259 1,197
Treasury stock, at cost (116 million and 105 million shares as of March 31, 2023 and December 31, 2022, respectively) (2,833) (2,764)
Total Genworth Financial, Inc.'s stockholders' equity 7,432 7,686
Noncontrolling interests 793 755
Total equity 8,225 8,441
Total liabilities and equity $ 91,178 $ 89,699

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