GENWORTH FINANCIAL INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
GNW$8.69-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Years ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from (used by) operating activities: | |||
| Net income | $427 | $199 | $1,046 |
| Less loss from discontinued operations, net of taxes | 10 | — | — |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Amortization of fixed maturity securities discounts and premiums | (119) | (106) | (154) |
| Net investment (gains) losses | (13) | (23) | 2 |
| Changes in fair value of market risk benefits and associated hedges | (13) | (12) | (104) |
| Charges assessed to policyholders | (564) | (572) | (588) |
| Amortization of deferred acquisition costs and intangibles | 249 | 264 | 326 |
| Deferred income taxes | (103) | 48 | 315 |
| Derivative instruments, limited partnerships and other | (461) | (557) | (335) |
| Long-term incentive compensation expense | 51 | 49 | 37 |
| Change in certain assets and liabilities: | |||
| Accrued investment income and other assets | (112) | (150) | (155) |
| Insurance reserves | 777 | 1,500 | 1,055 |
| Current tax liabilities | 14 | 46 | (1) |
| Other liabilities, policy and contract claims and other policy-related balances | (55) | (86) | (364) |
| Cash used by operating activities—discontinued operations | — | (3) | (31) |
| Net cash from operating activities | 88 | 597 | 1,049 |
| Cash flows from (used by) investing activities: | |||
| Proceeds from maturities and repayments of investments: | |||
| Fixed maturity securities | 2,524 | 2,426 | 2,705 |
| Commercial mortgage loans | 586 | 470 | 759 |
| Limited partnerships and other invested assets | 244 | 202 | 185 |
| Proceeds from sales of investments: | |||
| Fixed maturity and equity securities | 2,640 | 2,233 | 2,658 |
| Purchases and originations of investments: | |||
| Fixed maturity and equity securities | (4,445) | (3,217) | (4,035) |
| Commercial mortgage loans | (211) | (273) | (958) |
| Limited partnerships and other invested assets | (518) | (586) | (645) |
| Short-term investments, net | 24 | (12) | 23 |
| Policy loans, net | 73 | 73 | 41 |
| Other | (56) | (55) | — |
| Net cash from investing activities | 861 | 1,261 | 733 |
| Cash flows from (used by) financing activities: | |||
| Deposits to universal life and investment contracts | 534 | 566 | 606 |
| Withdrawals from universal life and investment contracts | (1,214) | (1,637) | (1,668) |
| Proceeds from issuance of long-term debt | 750 | — | — |
| Debt issuance costs | (7) | — | — |
| Repayment and repurchase of long-term debt | (824) | (32) | (297) |
| Repurchase of subsidiary shares | (45) | (16) | — |
| Treasury stock acquired in connection with share repurchases | (189) | (296) | (64) |
| Dividends paid to noncontrolling interests | (21) | (39) | (46) |
| Other, net | (99) | 11 | (85) |
| Net cash used by financing activities | (1,115) | (1,443) | (1,554) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (1) | 1 | — |
| Net change in cash, cash equivalents and restricted cash | (167) | 416 | 228 |
| Cash, cash equivalents and restricted cash at beginning of period | 2,215 | 1,799 | 1,571 |
| Cash, cash equivalents and restricted cash at end of period | $2,048 | $2,215 | $1,799 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.