v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets    
Fixed maturity securities available-for-sale, at fair value (amortized cost of $49,864 and $50,834, respectively, and allowance for credit losses of $4 and $—, respectively, as of June 30, 2023 and December 31, 2022) $ 46,070 $ 46,583
Equity securities, at fair value 378 319
Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of June 30, 2023 and December 31, 2022) 6,876 7,032
Less: Allowance for credit losses (24) (22)
Commercial mortgage loans, net 6,852 7,010
Policy loans 2,270 2,139
Limited partnerships 2,585 2,331
Other invested assets 648 566
Total investments 58,803 58,948
Cash, cash equivalents and restricted cash 2,173 1,799
Accrued investment income 553 643
Deferred acquisition costs 2,096 2,211
Intangible assets 201 203
Reinsurance recoverable 19,113 19,059
Less: Allowance for credit losses (64) (63)
Reinsurance recoverable, net 19,049 18,996
Other assets 445 488
Deferred tax asset 1,954 1,983
Market risk benefit assets 37 26
Separate account assets 4,533 4,417
Total assets 89,844 89,714
Liabilities and equity    
Future policy benefits 56,443 55,407
Policyholder account balances 15,922 16,564
Market risk benefit liabilities 666 748
Liability for policy and contract claims 628 683
Unearned premiums 175 203
Other liabilities 1,607 1,687
Long-term borrowings 1,601 1,611
Separate account liabilities 4,533 4,417
Liabilities related to discontinued operations 2 8
Total liabilities 81,577 81,328
Commitments and contingencies (Note 18)
Equity:    
Class A common stock, $0.001 par value; 1.5 billion shares authorized; 603 million and 600 million shares issued as of June 30, 2023 and December 31, 2022, respectively; 467 million and 495 million shares outstanding as of June 30, 2023 and December 31, 2022, respectively 1 1
Additional paid-in capital 11,869 11,869
Accumulated other comprehensive income (loss) (2,861) (2,614)
Retained earnings 1,398 1,139
Treasury stock, at cost (136 million and 105 million shares as of June 30, 2023 and December 31, 2022, respectively) (2,947) (2,764)
Total Genworth Financial, Inc.'s stockholders' equity 7,460 7,631
Noncontrolling interests 807 755
Total equity 8,267 8,386
Total liabilities and equity $ 89,844 $ 89,714

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