Exhibit 12

Genworth Financial, Inc.

Statement of Ratio of Income to Fixed Charges

(Dollar amounts in millions)

 

     Nine months
ended
September 30, 2018
                                  
     Years ended December 31,  
     2017      2016      2015     2014     2013  

Income (loss) from continuing operations before income taxes and accounting changes

   $ 861    $ 729    $ 320    $ (15   $  (1,299   $ 993

Less: income attributable to noncontrolling interests before income taxes

     242      144      289      259     262     210
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests

   $ 619    $ 585    $ 31    $ (274   $ (1,561   $ 783
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Fixed charges included in income (loss) from continuing operations:

               

Interest expense

   $ 216    $ 272    $ 324    $ 407   $ 418   $ 440

Interest portion of rental expense

     4      6      6      6     8     8
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Subtotal

     220      278      330      413     426     448

Interest credited to investment contractholders

     459      646      696      720     737     738
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Total fixed charges from continuing operations

   $ 679    $ 924    $  1,026    $  1,133   $  1,163   $  1,186
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders)

   $  1,298    $  1,509    $  1,057    $ 859   $ (398   $  1,969
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (including interest credited to investment contractholders)

     1.91      1.63      1.03      0.76     (0.34     1.66
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders)

   $ 839    $ 863    $ 361    $ 139   $  (1,135   $  1,231
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (excluding interest credited to investment contractholders)

     3.81      3.10      1.09      0.34     (2.66     2.75
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

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.