Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
| Years ended December 31, | ||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Income (loss) from continuing operations before income taxes and accounting changes | $ | 606 | $ | 130 | $ | (143 | ) | $ | (925 | ) | $ | (1,154 | ) | |||||||
Less: income attributable to noncontrolling interests before income taxes | 270 | 190 | 199 | 87 | — | |||||||||||||||
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Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests | $ | 336 | $ | (60 | ) | $ | (342 | ) | $ | (1,012 | ) | $ | (1,154 | ) | ||||||
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Fixed charges included in income (loss) from continuing operations: | ||||||||||||||||||||
Interest expense | $ | 467 | $ | 496 | $ | 454 | $ | 393 | $ | 470 | ||||||||||
Interest portion of rental expense | 14 | 15 | 14 | 13 | 17 | |||||||||||||||
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Subtotal | 481 | 511 | 468 | 406 | 487 | |||||||||||||||
Interest credited to investment contractholders | 775 | 794 | 841 | 984 | 1,293 | |||||||||||||||
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Total fixed charges from continuing operations | $ | 1,256 | $ | 1,305 | $ | 1,309 | $ | 1,390 | $ | 1,780 | ||||||||||
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Income from continuing operations available for fixed charges (including interest credited to investment contractholders) | $ | 1,592 | $ | 1,245 | $ | 967 | $ | 378 | $ | 626 | ||||||||||
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Ratio of income from continuing operations to fixed charges (including interest credited to investment contractholders) | 1.27 | 0.95 | 0.74 | 0.27 | 0.35 | |||||||||||||||
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Income (loss) from continuing operations available for fixed charges (excluding interest credited to contractholders) | $ | 817 | $ | 451 | $ | 126 | $ | (606 | ) | $ | (667 | ) | ||||||||
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Ratio of income (loss) from continuing operations to fixed charges (excluding interest credited to investment contractholders) | 1.70 | 0.88 | 0.27 | (1.49 | ) | (1.37 | ) | |||||||||||||
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For the years ended December 31, 2011, 2010, 2009 and 2008, our deficiency in income from continuing operations necessary to cover fixed charges was $60 million, $342 million, $1,012 million and $1,154 million, respectively.