Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
| Nine months ended September 30, 2017 |
Years ended December 31, | |||||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and accounting changes |
$ | 1,019 | $ | 320 | $ | (15 | ) | $ | (1,299 | ) | $ | 993 | $ | 645 | ||||||||||
| Less: income attributable to noncontrolling interests before income taxes |
272 | 289 | 259 | 262 | 210 | 270 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests |
$ | 747 | $ | 31 | $ | (274 | ) | $ | (1,561 | ) | $ | 783 | $ | 375 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed charges included in income (loss) from continuing operations: |
||||||||||||||||||||||||
| Interest expense |
$ | 201 | $ | 324 | $ | 407 | $ | 418 | $ | 440 | $ | 422 | ||||||||||||
| Interest portion of rental expense |
4 | 6 | 6 | 8 | 8 | 9 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Subtotal |
205 | 330 | 413 | 426 | 448 | 431 | ||||||||||||||||||
| Interest credited to investment contractholders |
494 | 696 | 720 | 737 | 738 | 775 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total fixed charges from continuing operations |
$ | 699 | $ | 1,026 | $ | 1,133 | $ | 1,163 | $ | 1,186 | $ | 1,206 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders) |
$ | 1,446 | $ | 1,057 | $ | 859 | $ | (398 | ) | $ | 1,969 | $ | 1,581 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (including interest credited to investment contractholders) |
2.07 | 1.03 | 0.76 | (0.34 | ) | 1.66 | 1.31 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders) |
$ | 952 | $ | 361 | $ | 139 | $ | (1,135 | ) | $ | 1,231 | $ | 806 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (excluding interest credited to investment contractholders) |
4.64 | 1.09 | 0.34 | (2.66 | ) | 2.75 | 1.87 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
For the years ended December 31, 2015 and 2014, our deficiency in income necessary to cover fixed charges was $274 million and $1,561 million, respectively.