Exhibit 12
Genworth Financial, Inc.
Statement Of Ratio Of Earnings To Fixed Charges
(Dollar amounts in millions)
| Years ended December 31, | |||||||||||||||
| 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||
Net earnings from continuing operations before income taxes and accounting changes | $ | 1,798 | $ | 1,638 | $ | 1,382 | $ | 1,791 | $ | 1,821 | |||||
Fixed charges included in earnings from continuing operations: | |||||||||||||||
Interest expense | 293 | 217 | 140 | 124 | 126 | ||||||||||
Interest portion of rental expense | 13 | 14 | 23 | 25 | 23 | ||||||||||
Subtotal | 306 | 231 | 163 | 149 | 149 | ||||||||||
Interest credited to investment contractholders | 1,425 | 1,432 | 1,624 | 1,645 | 1,620 | ||||||||||
Subtotal | 1,731 | 1,663 | 1,787 | 1,794 | 1,769 | ||||||||||
Fixed charges included in earnings from discontinued operations: | |||||||||||||||
Interest expense | — | — | 12 | 16 | 15 | ||||||||||
Interest portion of rental expense | — | — | 8 | 12 | 12 | ||||||||||
Subtotal | — | — | 20 | 28 | 27 | ||||||||||
Interest credited to investment contractholders | — | — | 68 | 79 | 51 | ||||||||||
Total fixed charges from discontinued operations | — | — | 88 | 107 | 78 | ||||||||||
Total fixed charges | 1,731 | 1,663 | 1,875 | 1,901 | 1,847 | ||||||||||
Earnings available for fixed charges (including interest credited to investment contractholders) | $ | 3,529 | $ | 3,301 | $ | 3,257 | $ | 3,692 | $ | 3,668 | |||||
Earnings available for fixed charges (excluding interest credited to investment contractholders) | $ | 2,104 | $ | 1,869 | $ | 1,565 | $ | 1,968 | $ | 1,997 | |||||
Ratio of earnings to fixed charges (including interest credited to investment contractholders) | 2.04 | 1.98 | 1.74 | 1.94 | 1.99 | ||||||||||
Ratio of earnings to fixed charges (excluding interest credited to investment contractholders) | 6.88 | 8.09 | 8.55 | 11.12 | 11.35 | ||||||||||
