Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Revenues of Major Product Groups for Segments and Corporate and Other Activities

The following is a summary of revenues for our segments and Corporate and Other activities for the periods indicated:

	Three months ended June 30,				Six months ended June 30,
(Amounts in millions)	2022		2021		2022		2021
Revenues:
Enact segment	$	273	$	276	$	543	$	564
U.S. Life Insurance segment:
Long-term care insurance		1,119		1,226		2,228		2,366
Life insurance		310		329		649		677
Fixed annuities		92		122		208		254
U.S. Life Insurance segment		1,521		1,677		3,085		3,297
Runoff segment		70		88		136		164
Corporate and Other activities		17		—		9		1
Total revenues	$	1,881	$	2,041	$	3,773	$	4,026

Summary of Net Operating Income (Loss) for Segments and Corporate and Other Activities

The following tables present the reconciliation of net income available to Genworth Financial, Inc.’s common stockholders to adjusted operating income available to Genworth Financial, Inc.’s common stockholders and a summary of adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders for our segments and Corporate and Other activities for the periods indicated:

	Three months ended June 30,						Six months ended June 30,
(Amounts in millions)	2022			2021			2022			2021
Net income available to Genworth Financial, Inc.’s common stockholders	$	181		$	240		$	330		$	427
Add: net income from continuing operations attributable to noncontrolling interests		38			—			68			—
Add: net income from discontinued operations attributable to noncontrolling interests		—			—			—			8
Net income		219			240			398			435
Less: income (loss) from discontinued operations, net of taxes		(1	)		(5	)		(3	)		16
Income from continuing operations		220			245			401			419
Less: net income from continuing operations attributable to noncontrolling interests		38			—			68			—
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders		182			245			333			419
Adjustments to income from continuing operations available to Genworth Financial, Inc.’s common stockholders:
Net investment (gains) losses, net (1)		(10	)		(70	)		(38	)		(103	)
(Gains) losses on early extinguishment of debt		1			—			4			4
Expenses related to restructuring		1			5			1			26
Taxes on adjustments		2			14			7			16
Adjusted operating income available to Genworth Financial, Inc.’s common stockholders	$	176		$	194		$	307		$	362

(1) For the three and six months ended June 30, 2022, net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves of $(2) million.

	Three months ended June 30,						Six months ended June 30,
(Amounts in millions)	2022			2021			2022			2021
Adjusted operating income (loss) available to Genworth Financial, Inc.’scommon stockholders:
Enact segment	$	167		$	135		$	302		$	261
U.S. Life Insurance segment:
Long-term care insurance		34			98			93			193
Life insurance		(34	)		(40	)		(113	)		(103	)
Fixed annuities		21			13			37			43
U.S. Life Insurance segment		21			71			17			133
Runoff segment		2			15			11			27
Corporate and Other activities		(14	)		(27	)		(23	)		(59	)
Adjusted operating income available to Genworth Financial, Inc.’scommon stockholders	$	176		$	194		$	307		$	362

Summary of Assets for Segments and Corporate and Other Activities

The following is a summary of total assets for our segments and Corporate and Other activities as of the dates indicated:

(Amounts in millions)	June 30, 2022		December 31, 2021
Assets:
Enact segment	$	5,763	$	5,850
U.S. Life Insurance segment		73,288		81,210
Runoff segment		8,264		9,460
Corporate and Other activities		1,753		2,651
Total assets	$	89,068	$	99,171