Exhibit 12.1
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
| Three months ended March 31, 2012 |
Years ended December 31, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and accounting changes |
$ | 102 | $ | 206 | $ | (53 | ) | $ | (858 | ) | $ | (1,067 | ) | $ | 1,357 | |||||||||
| Less: income attributable to noncontrolling interests before income taxes |
46 | 190 | 199 | 87 | — | — | ||||||||||||||||||
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| Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests |
$ | 56 | $ | 16 | $ | (252 | ) | $ | (945 | ) | $ | (1,067 | ) | $ | 1,357 | |||||||||
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| Fixed charges included in income from continuing operations: |
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| Interest expense |
$ | 92 | $ | 496 | $ | 454 | $ | 393 | $ | 470 | $ | 481 | ||||||||||||
| Interest portion of rental expense |
4 | 16 | 15 | 14 | 18 | 15 | ||||||||||||||||||
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| Subtotal |
96 | 512 | 469 | 407 | 488 | 496 | ||||||||||||||||||
| Interest credited to investment contractholders |
195 | 794 | 841 | 984 | 1,293 | 1,552 | ||||||||||||||||||
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| Total fixed charges from continuing operations |
291 | 1,306 | 1,310 | 1,391 | 1,781 | 2,048 | ||||||||||||||||||
| Fixed charges included in income from discontinued operations: |
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| Interest credited to investment contractholders |
— | — | — | — | — | 1 | ||||||||||||||||||
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| Total fixed charges from discontinued operations |
— | — | — | — | — | 1 | ||||||||||||||||||
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| Total fixed charges |
$ | 291 | $ | 1,306 | $ | 1,310 | $ | 1,391 | $ | 1,781 | $ | 2,049 | ||||||||||||
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| Income (loss) available for fixed changes (including interest credited to investment contractholders) |
$ | 347 | $ | 1,322 | $ | 1,058 | $ | 446 | $ | 714 | $ | 3,406 | ||||||||||||
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| Ratio of income (loss) to fixed charges (including interest credited to investment contractholders) |
1.19 | 1.01 | 0.81 | 0.32 | 0.40 | 1.66 | ||||||||||||||||||
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| Income (loss) available for fixed changes (excluding interest credited to contractholders) |
$ | 152 | $ | 528 | $ | 217 | $ | (538 | ) | $ | (579 | ) | $ | 1,853 | ||||||||||
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| Ratio of income (loss) to fixed charges (excluding interest credited to investment contractholders) |
1.58 | 1.03 | 0.46 | (1.32 | ) | (1.19 | ) | 3.74 | ||||||||||||||||
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For the years ended December 31, 2010, 2009 and 2008, our deficiency in income necessary to cover fixed charges was $252 million, $945 million and $1,067 million, respectively.