Genworth Financial Inc (GNW) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
6620 WEST BROAD STREET RICHMOND, VA 23230 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6311 - Life Insurance (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,032 | 2,875 | |||||||
| Cash and cash equivalents | 1,032 | 2,875 | |||||||
| Receivables | 3 | ||||||||
| Total current assets: | 3 | 1,032 | 2,875 | ||||||
| Noncurrent Assets | |||||||||
| Intangible assets, net (including goodwill), including: | 241 | 143 | 200 | 201 | 347 | 301 | |||
| Intangible assets, net (excluding goodwill) | 241 | 143 | 200 | 196 | 334 | 286 | |||
| Other undisclosed intangible assets, net (including goodwill) | 5 | 13 | 15 | ||||||
| Deferred income tax assets | 1,344 | 119 | 107 | 425 | ✕ | ✕ | |||
| Total noncurrent assets: | 1,585 | 262 | 307 | 626 | 347 | 301 | |||
| Other undisclosed assets | 84,854 | 98,909 | 104,408 | 100,716 | 100,576 | 102,121 | |||
| TOTAL ASSETS: | 86,442 | 99,171 | 105,747 | 101,342 | 100,923 | 105,297 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2 | 8 | 19 | 28 | |||||
| Taxes payable | ✕ | ✕ | 2 | 8 | 19 | 28 | |||
| Securities loaned | 66 | 49 | |||||||
| Disposal group, including discontinued operation | 6 | 4 | |||||||
| Total current liabilities: | 6 | 6 | 74 | 68 | 28 | ||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 75,697 | 82,899 | 89,853 | 86,642 | 86,734 | 89,941 | |||
| Total liabilities: | 75,703 | 82,905 | 89,927 | 86,710 | 86,734 | 89,969 | |||
| Equity | |||||||||
| Equity, attributable to parent | 9,984 | 15,510 | 15,318 | 14,185 | 12,450 | 13,418 | |||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | |||
| Treasury stock, value | (2,764) | (2,700) | (2,700) | (2,700) | (2,700) | (2,700) | |||
| Additional paid in capital | 11,869 | 11,858 | 12,008 | 11,990 | 11,987 | 11,977 | |||
| Accumulated other comprehensive income (loss) | (2,220) | 3,861 | 4,425 | 3,433 | 2,044 | 3,027 | |||
| Retained earnings | 3,098 | 2,490 | 1,584 | 1,461 | 1,118 | 1,113 | |||
| Equity, attributable to noncontrolling interest | 755 | 756 | 502 | 447 | 1,739 | 1,910 | |||
| Total equity: | 10,739 | 16,266 | 15,820 | 14,632 | 14,189 | 15,328 | |||
| TOTAL LIABILITIES AND EQUITY: | 86,442 | 99,171 | 105,747 | 101,342 | 100,923 | 105,297 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 7,507 | 7,832 | 8,658 | 8,096 | 8,430 | 8,295 | ||
| Premiums earned, net | 3,719 | 3,435 | 4,110 | 4,037 | 4,519 | ✕ | ||
| Net investment income | 3,146 | 3,370 | 3,260 | 3,220 | 3,262 | 3,200 | ||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 4,830 | |
| Cost of revenue | (5,036) | (5,294) | (6,412) | (6,157) | (6,660) | (6,235) | ||
| Policyholder benefits and claims incurred, net | (4,242) | (4,383) | (5,391) | (5,163) | (5,684) | ✕ | ||
| Financial services costs | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | (5,179) | |
| Gross profit: | 2,471 | 2,538 | 2,246 | 1,939 | 1,770 | 2,060 | ||
| Operating expenses | (1,384) | (1,287) | (1,040) | (1,030) | (1,074) | (1,117) | ||
| Other undisclosed operating loss | (454) | (486) | (517) | |||||
| Operating income: | 633 | 765 | 1,206 | 909 | 179 | 943 | ||
| Nonoperating income (expense) (Investment Income, Nonoperating) | (100) | 236 | 463 | 50 | (240) | 177 | ||
| Interest and debt expense | (100) | (205) | (202) | (239) | (299) | (284) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 545 | 385 | (436) | (6) | 808 | (107) | ||
| Income from continuing operations before equity method investments, income taxes: | 978 | 1,181 | 1,031 | 714 | 448 | 729 | ||
| Other undisclosed loss from continuing operations before income taxes | ||||||||
| Income from continuing operations before income taxes: | 978 | 1,181 | 1,031 | 714 | 448 | 729 | ||
| Income tax expense (benefit) | (239) | (263) | (270) | (195) | (151) | 207 | ||
| Income from continuing operations: | 739 | 918 | 761 | 519 | 297 | 936 | ||
| Income before gain (loss) on sale of properties: | ✕ | 945 | 212 | 530 | 297 | 927 | ||
| Income (loss) from discontinued operations | 27 | (549) | 11 | (9) | ||||
| Other undisclosed net loss | ||||||||
| Net income: | 739 | 945 | 212 | 530 | 297 | 927 | ||
| Net loss attributable to noncontrolling interest | (130) | (41) | (34) | (187) | (178) | (110) | ||
| Net income available to common stockholders, diluted: | 609 | 904 | 178 | 343 | 119 | 817 | ||
Comprehensive Income ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 739 | 945 | 212 | 530 | 297 | 927 | ||
| Other comprehensive income (loss) | (6,167) | (402) | 1,022 | 1,556 | (1,270) | 45 | ||
| Comprehensive income (loss): | (5,428) | 543 | 1,234 | 2,086 | (973) | 972 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (44) | (177) | (64) | (354) | (22) | (222) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (5,472) | 366 | 1,170 | 1,732 | (995) | 750 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.