Genworth Financial (GNW) 10-K 2011 FY Annual report

Exhibit 12

Genworth Financial, Inc.

Computation Of Ratio Of Income To Fixed Charges

(Dollar amounts in millions)

	Years ended December 31,
	2011		2010			2009			2008			2007
Income (loss) from continuing operations before income taxes and accounting changes	$	314	$	76		$	(792	)	$	(942	)	$	1,606
Less: income attributable to noncontrolling interests before income taxes		190		199			87			—			—
Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests	$	124	$	(123	)	$	(879	)	$	(942	)	$	1,606
Fixed charges included in income from continuing operations:
Interest expense	$	496	$	454		$	393		$	470		$	481
Interest portion of rental expense		16		15			14			18			15
Subtotal		512		469			407			488			496
Interest credited to investment contractholders		794		841			984			1,293			1,552
Total fixed charges from continuing operations		1,306		1,310			1,391			1,781			2,048
Fixed charges included in income from discontinued operations:
Interest credited to investment contractholders		—		—			—			—			1
Total fixed charges from discontinued operations		—		—			—			—			1
Total fixed charges	$	1,306	$	1,310		$	1,391		$	1,781		$	2,049
Income (loss) available for fixed changes (including interest credited to investment contractholders)	$	1,430	$	1,187		$	512		$	839		$	3,655
Ratio of income (loss) to fixed charges (including interest credited to investment contractholders)		1.09		0.91			0.37			0.47			1.78
Income (loss) available for fixed changes (excluding interest credited to contractholders)	$	636	$	346		$	(472	)	$	(454	)	$	2,102
Ratio of income (loss) to fixed charges (excluding interest credited to investment contractholders)		1.24		0.74			(1.16	)		(0.93	)		4.24

For the years ended December 31, 2010, 2009 and 2008, our deficiency in income necessary to cover fixed charges was $123 million, $879 million and $942 million, respectively.