Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
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months ended June 30, 2013 |
Years ended December 31, | |||||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and accounting changes |
$ | 484 | $ | 606 | $ | 130 | $ | (143 | ) | $ | (925 | ) | $ | (1,154 | ) | |||||||||
| Less: income attributable to noncontrolling interests before income taxes |
105 | 270 | 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 |
$ | 379 | $ | 336 | $ | (60 | ) | $ | (342 | ) | $ | (1,012 | ) | $ | (1,154 | ) | ||||||||
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| Fixed charges included in income (loss) from continuing operations: |
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| Interest expense |
$ | 243 | $ | 467 | $ | 496 | $ | 454 | $ | 393 | $ | 470 | ||||||||||||
| Interest portion of rental expense |
7 | 14 | 15 | 14 | 13 | 17 | ||||||||||||||||||
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| Subtotal |
250 | 481 | 511 | 468 | 406 | 487 | ||||||||||||||||||
| Interest credited to investment contractholders |
368 | 775 | 794 | 841 | 984 | 1,293 | ||||||||||||||||||
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| Total fixed charges from continuing operations |
$ | 618 | $ | 1,256 | $ | 1,305 | $ | 1,309 | $ | 1,390 | $ | 1,780 | ||||||||||||
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| Income from continuing operations available for fixed charges (including interest credited to investment contractholders) |
$ | 997 | $ | 1,592 | $ | 1,245 | $ | 967 | $ | 378 | $ | 626 | ||||||||||||
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| Ratio of income from continuing operations to fixed charges (including interest credited to investment contractholders) |
1.61 | 1.27 | 0.95 | 0.74 | 0.27 | 0.35 | ||||||||||||||||||
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| Income from continuing operations available for fixed charges (excluding interest credited contractholders) |
$ | 629 | $ | 817 | $ | 451 | $ | 126 | $ | (606 | ) | $ | (667 | ) | ||||||||||
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| Ratio of income from continuing operations to fixed charges (excluding interest credited to investment contractholders) |
2.52 | 1.70 | 0.88 | 0.27 | (1.49 | ) | (1.37 | ) | ||||||||||||||||
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For the years ended December 31, 2011, 2010, 2009 and 2008, our deficiency in income from continuing operations necessary to cover fixed charges was $60 million, $342 million, $1,012 million and $1,154 million, respectively.