Exhibit 12
Genworth Financial, Inc.
Statement Of Ratio Of Earnings To Fixed Charges
(Dollar amounts in millions)
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| | | Nine months ended
September 30,
2005
| | Year ended
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| | | | December 31,
2004
| | December 31,
2003
| | December 31,
2002
| | December 31,
2001
| | December 31,
2000
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Net earnings from continuing operations before income taxes and accounting changes | | $ | 1,339 | | $ | 1,638 | | $ | 1,382 | | $ | 1,791 | | $ | 1,821 | | $ | 1,851 |
Fixed charges included in earnings from continuing operations: | | | | | | | | | | | | | | | | | | |
Interest expense | | | 213 | | | 217 | | | 140 | | | 124 | | | 126 | | | 126 |
Interest portion of rental expense | | | 10 | | | 14 | | | 23 | | | 25 | | | 23 | | | 25 |
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Subtotal | | | 223 | | | 231 | | | 163 | | | 149 | | | 149 | | | 151 |
Interest credited to investment contractholders | | | 1,051 | | | 1,432 | | | 1,624 | | | 1,645 | | | 1,620 | | | 1,456 |
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Subtotal | | | 1,274 | | | 1,663 | | | 1,787 | | | 1,794 | | | 1,769 | | | 1,607 |
Fixed charges included in earnings from discontinued operations: | | | | | | | | | | | | | | | | | | |
Interest expense | | | — | | | — | | | 12 | | | 16 | | | 15 | | | 17 |
Interest portion of rental expense | | | — | | | — | | | 8 | | | 12 | | | 12 | | | 12 |
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Subtotal | | | — | | | — | | | 20 | | | 28 | | | 27 | | | 29 |
Interest credited to investment contractholders | | | — | | | — | | | 68 | | | 79 | | | 51 | | | 41 |
Total fixed charges from discontinued operations | | | — | | | — | | | 88 | | | 107 | | | 78 | | | 70 |
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Total fixed charges | | | 1,274 | | | 1,663 | | | 1,875 | | | 1,901 | | | 1,847 | | | 1,677 |
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Earnings available for fixed charges (including interest credited to investment contractholders) | | $ | 2,613 | | $ | 3,301 | | $ | 3,257 | | $ | 3,692 | | $ | 3,668 | | $ | 3,528 |
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Earnings available for fixed charges (excluding interest credited to investment contractholders) | | $ | 1,562 | | $ | 1,869 | | $ | 1,565 | | $ | 1,968 | | $ | 1,997 | | $ | 2,031 |
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Ratio of earnings to fixed charges (including interest credited to investment contractholders) | | | 2.05 | | | 1.98 | | | 1.74 | | | 1.94 | | | 1.99 | | | 2.10 |
Ratio of earnings to fixed charges (excluding interest credited to investment contractholders) | | | 7.00 | | | 8.09 | | | 8.55 | | | 11.12 | | | 11.35 | | | 11.28 |
