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SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)
SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)
Balance Sheet
as of December 31, 2024 and 2023
(Dollars in millions)

ASSETS
20242023
Fixed maturities, available for sale, at fair value (amortized cost: 2024 - $500.2; 2023 - $0)
$518.6 $— 
Cash and cash equivalents - unrestricted355.8 255.3 
Investment in wholly-owned subsidiaries*
3,761.0 3,169.3 
Income tax assets, net64.6 124.4 
Receivable from subsidiaries*
38.0 26.7 
Other assets18.5 2.4 
Total assets$4,756.5 $3,578.1 
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Notes payable$1,833.5 $1,140.5 
Payable to subsidiaries*
389.4 174.0 
Other liabilities35.2 48.0 
Total liabilities2,258.1 1,362.5 
Commitments and Contingencies
Shareholders' equity:
Common stock and additional paid-in capital ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2024 - 101,618,957; 2023 - 109,357,540)
1,633.5 1,892.6 
Accumulated other comprehensive loss(1,371.4)(1,576.8)
Retained earnings2,236.3 1,899.8 
Total shareholders' equity2,498.4 2,215.6 
Total liabilities and shareholders' equity$4,756.5 $3,578.1 
* Eliminated in consolidation
SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)

Statement of Operations
for the years ended December 31, 2024, 2023 and 2022
(Dollars in millions)

202420232022
Revenues:
Net investment income$37.0 $13.3 $9.8 
Net investment income - affiliated*
1.1 3.7 3.0 
Net investment gains (losses)— 0.1 (0.6)
Total revenues38.1 17.1 12.2 
Expenses:
Interest expense91.8 62.7 62.5 
Intercompany expenses*
13.4 8.4 3.8 
Operating costs and expenses37.7 63.2 0.2 
Total expenses142.9 134.3 66.5 
Loss before income taxes and equity in undistributed earnings of subsidiaries(104.8)(117.2)(54.3)
Income tax benefit(25.7)(32.2)(18.3)
Loss before equity in undistributed earnings of subsidiaries(79.1)(85.0)(36.0)
Equity in undistributed earnings of subsidiaries*
483.1 361.5 666.6 
Net income$404.0 $276.5 $630.6 
* Eliminated in consolidation




















The accompanying notes are an integral part
of the condensed financial statements.
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)
Statement of Cash Flows
for the years ended December 31, 2024, 2023 and 2022
(Dollars in millions)
202420232022
Cash flows from operating activities:$(65.1)$(106.8)$(143.2)
Cash flows from investing activities:
Sales of investments— 43.2 24.6 
Purchases of investments(499.8)(6.5)(11.8)
Net sales of trading securities5.0 6.6 7.7 
Dividends received from consolidated subsidiary*— 150.0 69.6 
Net cash (used) provided by investing activities
(494.8)193.3 90.1 
Cash flows from financing activities:
Issuance of notes payable, net691.0 — — 
Issuance of common stock11.1 13.2 13.5 
Payments to repurchase common stock(300.2)(166.1)(190.1)
Common stock dividends paid(67.7)(68.1)(64.8)
Issuance of notes payable to affiliates*419.1 400.3 349.5 
Payments on notes payable to affiliates*(92.9)(147.2)(114.5)
Net cash provided (used) by financing activities660.4 32.1 (6.4)
Net increase (decrease) in cash and cash equivalents100.5 118.6 (59.5)
Cash and cash equivalents, beginning of the year255.3 136.7 196.2 
Cash and cash equivalents, end of the year$355.8 $255.3 $136.7 

* Eliminated in consolidation




















The accompanying notes are an integral part
of the condensed financial statements.
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

SCHEDULE II

Notes to Condensed Financial Information
Basis of Presentation
The condensed financial information should be read in conjunction with the consolidated financial statements of CNO Financial Group, Inc. The condensed financial information includes the accounts and activity of the parent company.