Genworth Financial (GNW) 10-Q 2018 Q1 Quarterly report

Exhibit 12

Genworth Financial, Inc.

Statement of Ratio of Income to Fixed Charges

(Dollar amounts in millions)

	Three months ended March 31, 2018		Years ended December 31,
			2017		2016		2015			2014			2013
Income (loss) from continuing operations before income taxes and accounting changes	$	228	$	729	$	320	$	(15	)	$	(1,299	)	$	993
Less: income attributable to noncontrolling interests before income taxes		72		144		289		259			262			210
Income (loss) from continuing operations before income taxes and accounting changes and excluding income attributable to noncontrolling interests	$	156	$	585	$	31	$	(274	)	$	(1,561	)	$	783
Fixed charges included in income (loss) from continuing operations:
Interest expense	$	73	$	272	$	324	$	407		$	418		$	440
Interest portion of rental expense		1		6		6		6			8			8
Subtotal		74		278		330		413			426			448
Interest credited to investment contractholders		156		646		696		720			737			738
Total fixed charges from continuing operations	$	230	$	924	$	1,026	$	1,133		$	1,163		$	1,186
Income (loss) from continuing operations available for fixed charges (including interest credited to investment contractholders)	$	386	$	1,509	$	1,057	$	859		$	(398	)	$	1,969
Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (including interest credited to investment contractholders)		1.68		1.63		1.03		0.76			(0.34	)		1.66
Income (loss) from continuing operations available for fixed charges (excluding interest credited to investment contractholders)	$	230	$	863	$	361	$	139		$	(1,135	)	$	1,231
Ratio of income (loss) from continuing operations available for fixed charges to fixed charges from continuing operations (excluding interest credited to investment contractholders)		3.11		3.10		1.09		0.34			(2.66	)		2.75

For the years ended December 31, 2015 and 2014, our deficiency in income necessary to cover fixed charges was $274 million and $1,561 million, respectively.