Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
| Three months ended March 31, 2015 |
Years ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and accounting changes |
$ | 295 | $ | (1,276 | ) | $ | 1,050 | $ | 606 | $ | 130 | $ | (143 | ) | ||||||||||
| Less: income attributable to noncontrolling interests before income taxes |
66 | 262 | 210 | 270 | 190 | 199 | ||||||||||||||||||
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| Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests |
$ | 229 | $ | (1,538 | ) | $ | 840 | $ | 336 | $ | (60 | ) | $ | (342 | ) | |||||||||
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| Fixed charges included in income (loss) from continuing operations: |
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| Interest expense |
$ | 113 | $ | 463 | $ | 482 | $ | 467 | $ | 496 | $ | 454 | ||||||||||||
| Interest portion of rental expense |
3 | 12 | 13 | 14 | 15 | 14 | ||||||||||||||||||
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| Subtotal |
116 | 475 | 495 | 481 | 511 | 468 | ||||||||||||||||||
| Interest credited to investment contractholders |
180 | 737 | 738 | 775 | 794 | 841 | ||||||||||||||||||
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| Total fixed charges from continuing operations |
$ | 296 | $ | 1,212 | $ | 1,233 | $ | 1,256 | $ | 1,305 | $ | 1,309 | ||||||||||||
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| Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders) |
$ | 525 | $ | (326 | ) | $ | 2,073 | $ | 1,592 | $ | 1,245 | $ | 967 | |||||||||||
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| Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (including interest credited to investment contractholders) |
1.77 | (0.27 | ) | 1.68 | 1.27 | 0.95 | 0.74 | |||||||||||||||||
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| Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders) |
$ | 345 | $ | (1,063 | ) | $ | 1,335 | $ | 817 | $ | 451 | $ | 126 | |||||||||||
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| Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (excluding interest credited to investment contractholders) |
2.97 | (2.24 | ) | 2.70 | 1.70 | 0.88 | 0.27 | |||||||||||||||||
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For the years ended December 31, 2014, 2011 and 2010, our deficiency in income from continuing operations necessary to cover fixed charges was $1,538 million, $60 million and $342 million, respectively.