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Condensed Financial Statements Of Parent Company

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements Of Parent Company

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2024						2023
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2024—$179; 2023—$184)						$	173					$	176
Equity securities, at fair value (cost: 2024—$1,389; 2023—$1,645)						4,565						4,544
Short-term investments, at fair value (amortized cost: 2024—$298)						298						—
Other invested assets						40						49
Total investments						5,076						4,769
Cash and cash equivalents						167						138
Equity in net assets of subsidiaries						10,015						8,481
Investment income receivable						14						13
Land, building and equipment, net, for company use (accumulated depreciation:    2024—$174; 2023—$164)						142						138
Income tax receivable						9						4
Other assets						201						150
Due from subsidiaries						53						40
Total assets						$	15,677					$	13,733
Liabilities
Dividends declared but unpaid						$	127					$	118
Deferred federal income tax						697						624
Long-term debt						790						789
Other liabilities						128						104
Total liabilities						1,742						1,635
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,502						1,437
Retained earnings						14,869						13,084
Accumulated other comprehensive income						(309)						(435)
Treasury stock, at cost						(2,524)						(2,385)
Total shareholders' equity						13,935						12,098
Total liabilities and shareholders' equity						$	15,677					$	13,733

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2024						2023						2022
Revenues
Investment income, net of expenses						$	122					$	109					$	101
Investment gains and losses, net						644						644						(790)
Other revenue						15						15						15
Total revenues						781						768						(674)
Expenses
Interest expense						52						52						53
Other expenses						42						38						33
Total expenses						94						90						86
Income (Loss) Before Income Taxes and Earnings of Subsidiaries						687						678						(760)
Provision (Benefit) for Income Taxes						140						134						(161)
Net Income (Loss) Before Earnings of Subsidiaries						547						544						(599)
Increase in equity of subsidiaries						1,745						1,299						112
Net Income (Loss)						$	2,292					$	1,843					$	(487)
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain on securities						2						4						(10)
Amortization of pension actuarial gains (losses) and prior service costs						36						(5)						7
Other Comprehensive Income (Loss), Net of Taxes Before Other  Comprehensive Income (Loss) of Subsidiaries						38						(1)						(3)
Other comprehensive income (loss) of subsidiaries						88						180						(908)
Other comprehensive income (loss)						126						179						(911)
Comprehensive Income (Loss)						$	2,418					$	2,022					$	(1,398)

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2024						2023						2022
Cash Flows From Operating Activities
Net income						$	2,292					$	1,843					$	(487)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization and other						4						10						9
Investment gains and losses, net						(641)						(644)						792
Dividends from subsidiaries						300						426						729
Changes in:
Increase in equity of subsidiaries						(1,745)						(1,299)						(112)
Current federal income taxes						(6)						1						(6)
Deferred income tax						64						144						(183)
Other assets						(4)						(12)						(7)
Other liabilities						3						3						1
Intercompany receivable for operations						21						95						28
Net cash provided by operating activities						288						567						764
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities						124						17						1
Sale of equity securities						665						138						192
Purchase of fixed maturities						(124)						(119)						(30)
Purchase of equity securities						(19)						(65)						(187)
Change in short-term investments, net						(295)						—						—
Investment in buildings and equipment						(14)						(10)						(4)
Change in other invested assets, net						9						—						(4)
Net cash (used in) received from investing activities						346						(39)						(32)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(490)						(454)						(423)
Shares acquired - share repurchase authorization						(126)						(67)						(410)
Proceeds from stock options exercised						10						9						10
Other						1						1						1
Net cash used in financing activities						(605)						(511)						(822)
Net change in cash and cash equivalents						29						17						(90)
Cash and cash equivalents at beginning of year						138						121						211
Cash and cash equivalents at end of year						$	167					$	138					$	121

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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