Exhibit 12
Genworth Financial, Inc.
Statement of Ratio of Income to Fixed Charges
(Dollar amounts in millions)
| Years ended December 31, | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Income (loss) from continuing operations before income taxes and accounting changes | $ | (1,276 | ) | $ | 1,050 | $ | 606 | $ | 130 | $ | (143 | ) | ||||||||
Less: income attributable to noncontrolling interests before income taxes | 262 | 210 | 270 | 190 | 199 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests | $ | (1,538 | ) | $ | 840 | $ | 336 | $ | (60 | ) | $ | (342 | ) | |||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Fixed charges included in income (loss) from continuing operations: | ||||||||||||||||||||
Interest expense | $ | 463 | $ | 482 | $ | 467 | $ | 496 | $ | 454 | ||||||||||
Interest portion of rental expense | 12 | 13 | 14 | 15 | 14 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Subtotal | 475 | 495 | 481 | 511 | 468 | |||||||||||||||
Interest credited to investment contractholders | 737 | 738 | 775 | 794 | 841 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total fixed charges from continuing operations | $ | 1,212 | $ | 1,233 | $ | 1,256 | $ | 1,305 | $ | 1,309 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders) | $ | (326 | ) | $ | 2,073 | $ | 1,592 | $ | 1,245 | $ | 967 | |||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of income (loss) from continuing operations to fixed charges (including interest credited to investment contractholders) | (0.27 | ) | 1.68 | 1.27 | 0.95 | 0.74 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders) | $ | (1,063 | ) | $ | 1,335 | $ | 817 | $ | 451 | $ | 126 | |||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of income (loss) from continuing operations to fixed charges (excluding interest credited to investment contractholders) | (2.24 | ) | 2.70 | 1.70 | 0.88 | 0.27 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
For the years ended December 31, 2014, 2011 and 2010, our deficiency in income necessary to cover fixed charges was $1,538 million, $60 million and $342 million, respectively.