GENWORTH FINANCIAL INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Investments: | ||
| Fixed maturity securities available-for-sale, at fair value (amortized cost of $48,720 and $49,365, respectively, and allowance for credit losses of $10 and $7, respectively, as of December 31, 2024 and 2023) | $44,902 | $46,781 |
| Equity securities, at fair value | 515 | 396 |
| Commercial mortgage loans (net of unamortized balance of loan origination fees and costs of $4 as of December 31, 2024 and 2023) | 6,450 | 6,829 |
| Less: Allowance for credit losses | (39) | (27) |
| Commercial mortgage loans, net | 6,411 | 6,802 |
| Policy loans | 2,310 | 2,220 |
| Limited partnerships | 3,142 | 2,821 |
| Other invested assets | 648 | 731 |
| Total investments | 57,928 | 59,751 |
| Cash, cash equivalents and restricted cash | 2,048 | 2,215 |
| Accrued investment income | 607 | 647 |
| Deferred acquisition costs | 1,779 | 1,988 |
| Intangible assets | 197 | 198 |
| Reinsurance recoverable | 17,679 | 19,054 |
| Less: Allowance for credit losses | (24) | (29) |
| Reinsurance recoverable, net | 17,655 | 19,025 |
| Other assets | 444 | 489 |
| Deferred tax asset | 1,718 | 1,952 |
| Market risk benefit assets | 57 | 43 |
| Separate account assets | 4,438 | 4,509 |
| Total assets | $86,871 | $90,817 |
| Liabilities and equity | ||
| Liabilities: | ||
| Future policy benefits | $53,610 | $57,655 |
| Policyholder account balances | 14,594 | 15,540 |
| Market risk benefit liabilities | 465 | 625 |
| Liability for policy and contract claims | 670 | 652 |
| Unearned premiums | 115 | 149 |
| Other liabilities | 2,026 | 1,768 |
| Long-term borrowings | 1,518 | 1,584 |
| Separate account liabilities | 4,438 | 4,509 |
| Liabilities related to discontinued operations | 4 | — |
| Total liabilities | 77,440 | 82,482 |
| Commitments and contingencies (Note 22) | ||
| Equity: | ||
| Common stock, $0.001 par value; 1,500,000,000 shares authorized; 606,314,179 and 603,151,611 shares issued as of December 31, 2024 and 2023, respectively; 421,419,484 and 446,823,204 shares outstanding as of December 31, 2024 and 2023, respectively | 1 | 1 |
| Additional paid-in capital | 11,875 | 11,884 |
| Accumulated other comprehensive income (loss) | (1,642) | (2,555) |
| Retained earnings | 1,511 | 1,213 |
| Treasury stock, at cost (184,894,695 and 156,328,407 shares as of December 31, 2024 and 2023, respectively) | (3,251) | (3,063) |
| Total Genworth Financial, Inc.’s stockholders’ equity | 8,494 | 7,480 |
| Noncontrolling interests | 937 | 855 |
| Total equity | 9,431 | 8,335 |
| Total liabilities and equity | $86,871 | $90,817 |
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