GENWORTH FINANCIAL INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
GNW$8.72+0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(Amounts in millions, except par value and share amounts)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (As adjusted) | ||
| Assets | ||
| Investments: | ||
| Fixed maturity securities available-for-sale, at fair value (amortized cost of $49,365 and $50,834, respectively, and allowance for credit losses of $7 and $—, respectively, as of December 31, 2023 and 2022) | $46,781 | $46,583 |
| Equity securities, at fair value | 396 | 319 |
| Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of December 31, 2023 and 2022) | 6,829 | 7,032 |
| Less: Allowance for credit losses | (27) | (22) |
| Commercial mortgage loans, net | 6,802 | 7,010 |
| Policy loans | 2,220 | 2,139 |
| Limited partnerships | 2,821 | 2,331 |
| Other invested assets | 731 | 566 |
| Total investments | 59,751 | 58,948 |
| Cash, cash equivalents and restricted cash | 2,215 | 1,799 |
| Accrued investment income | 647 | 643 |
| Deferred acquisition costs | 1,988 | 2,211 |
| Intangible assets | 198 | 203 |
| Reinsurance recoverable | 19,054 | 19,059 |
| Less: Allowance for credit losses | (29) | (63) |
| Reinsurance recoverable, net | 19,025 | 18,996 |
| Other assets | 489 | 488 |
| Deferred tax asset | 1,952 | 1,983 |
| Market risk benefit assets | 43 | 26 |
| Separate account assets | 4,509 | 4,417 |
| Total assets | $90,817 | $89,714 |
| Liabilities and equity | ||
| Liabilities: | ||
| Future policy benefits | $57,655 | $55,407 |
| Policyholder account balances | 15,540 | 16,564 |
| Market risk benefit liabilities | 625 | 748 |
| Liability for policy and contract claims | 652 | 683 |
| Unearned premiums | 149 | 203 |
| Other liabilities | 1,768 | 1,687 |
| Long-term borrowings | 1,584 | 1,611 |
| Separate account liabilities | 4,509 | 4,417 |
| Liabilities related to discontinued operations | — | 8 |
| Total liabilities | 82,482 | 81,328 |
| Commitments and contingencies (Note 25) | ||
| Equity: | ||
| Class A common stock, $0.001 par value; 1,500,000,000 shares authorized; 603,151,611 and 600,036,269 shares issued as of December 31, 2023 and 2022, respectively; 446,823,204 and 495,446,960 shares outstanding as of December 31, 2023 and 2022, respectively | 1 | 1 |
| Additional paid-in capital | 11,884 | 11,869 |
| Accumulated other comprehensive income (loss) | (2,555) | (2,614) |
| Retained earnings | 1,213 | 1,139 |
| Treasury stock, at cost (156,328,407 and 104,589,309 shares as of December 31, 2023 and 2022, respectively) | (3,063) | (2,764) |
| Total Genworth Financial, Inc.’s stockholders’ equity | 7,480 | 7,631 |
| Noncontrolling interests | 855 | 755 |
| Total equity | 8,335 | 8,386 |
| Total liabilities and equity | $90,817 | $89,714 |
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