Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
Three months ended March 31, | Years ended December 31, | |||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||
Income from continuing operations before income taxes and accounting changes | $ | 164 | $ | 1,606 | $ | 1,853 | $ | 1,745 | $ | 1,584 | $ | 1,305 | ||||||
Fixed charges included in income from continuing operations: | ||||||||||||||||||
Interest expense | 112 | 481 | 364 | 293 | 217 | 140 | ||||||||||||
Interest portion of rental expense | 4 | 15 | 15 | 13 | 14 | 23 | ||||||||||||
Subtotal | 116 | 496 | 379 | 306 | 231 | 163 | ||||||||||||
Interest credited to investment contractholders | 345 | 1,552 | 1,520 | 1,423 | 1,431 | 1,623 | ||||||||||||
Total fixed charges from continuing operations | 461 | 2,048 | 1,899 | 1,729 | 1,662 | 1,786 | ||||||||||||
Fixed charges included in income from discontinued operations: | ||||||||||||||||||
Interest expense | — | — | — | — | — | 12 | ||||||||||||
Interest portion of rental expense | — | — | — | — | — | 8 | ||||||||||||
Subtotal | — | — | — | — | — | 20 | ||||||||||||
Interest credited to investment contractholders | 1 | 1 | 2 | 2 | 1 | 69 | ||||||||||||
Total fixed charges from discontinued operations | 1 | 1 | 2 | 2 | 1 | 89 | ||||||||||||
Total fixed charges | 462 | 2,049 | 1,901 | 1,731 | 1,663 | 1,875 | ||||||||||||
Income available for fixed charges (including interest credited to investment contractholders) | $ | 626 | $ | 3,655 | $ | 3,754 | $ | 3,476 | $ | 3,247 | $ | 3,180 | ||||||
Income available for fixed charges (excluding interest credited to investment contractholders) | $ | 280 | $ | 2,102 | $ | 2,232 | $ | 2,051 | $ | 1,815 | $ | 1,488 | ||||||
Ratio of income to fixed charges (including interest credited to investment contractholders) | 1.35 | 1.78 | 1.97 | 2.01 | 1.95 | 1.70 | ||||||||||||
Ratio of income to fixed charges (excluding interest credited to investment contractholders) | 2.41 | 4.24 | 5.89 | 6.70 | 7.86 | 8.13 |