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Condensed Financial Information Of Registrant
 12 Months Ended
Dec. 31, 2011
Condensed Financial Information Of Registrant [Abstract]  
Condensed Financial Information Of Registrant

SCHEDULE II

HORACE MANN EDUCATORS CORPORATION

(Parent Company Only)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS

As of December 31, 2011 and 2010

(Dollars in thousands, except per share data)

 

$1,332,028 $1,332,028
     December 31,  
       2011         2010    
ASSETS   

Investments and cash

      $     18,772       $     23,150  

Investment in subsidiaries

      1,264,560       1,049,365  

Other assets

      48,696       50,575  
  

 

 

    

 

 

  

 Total assets

      $1,332,028       $1,123,090  
  

 

 

    

 

 

  
LIABILITIES AND SHAREHOLDERS' EQUITY   

Short-term debt

      $     38,000       $     38,000  

Long-term debt

      199,744       199,679  

Other liabilities

      7,358       5,404  
  

 

 

    

 

 

  

 Total liabilities

      245,102       243,083  
  

 

 

    

 

 

  

Preferred stock, $0.001 par value, authorized 1,000,000 shares; none issued

      -        -   

Common stock, $0.001 par value, authorized 75,000,000 shares; issued, 2011, 61,803,462; 2010, 61,469,148

      62       61  

Additional paid-in capital

      373,384       367,448  

Retained earnings

      875,069       823,579  

Accumulated other comprehensive income (loss), net of taxes:

     

   Net unrealized gains and losses on fixed maturities and equity securities

      265,370       109,737  

   Net funded status of pension and other postretirement benefit obligations

      (16,242 )      (13,155 ) 

Treasury stock, at cost, 2011, 22,028,030 shares; 2010, 21,813,196 shares

      (410,717 )      (407,663 ) 
  

 

 

    

 

 

  

 Total shareholders' equity

      1,086,926       880,007  
  

 

 

    

 

 

  

          Total liabilities and shareholders' equity

      $1,332,028       $1,123,090  
  

 

 

    

 

 

  

 

 

See accompanying note to condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

SCHEDULE II

HORACE MANN EDUCATORS CORPORATION

(Parent Company Only)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF OPERATIONS

(Dollars in thousands)

 

     Year Ended December 31,  
     2011     2010     2009  

Revenues

       

   Net investment income

    $ (3 )    $ 18     $ 21  

   Realized investment gains

      -        232       -   
  

 

 

    

 

 

    

 

 

  

  Total revenues

      (3 )      250       21  
  

 

 

    

 

 

    

 

 

  

Expenses

       

   Interest

      14,007       13,953       13,971  

   Other

      3,590       4,598       4,657  
  

 

 

    

 

 

    

 

 

  

  Total expenses

      17,597       18,551       18,628  
  

 

 

    

 

 

    

 

 

  

Loss before income taxes and equity in net earnings of subsidiaries

      (17,600 )      (18,301 )      (18,607 ) 

Income tax benefit

      (8,197 )      (5,690 )      (6,047 ) 
  

 

 

    

 

 

    

 

 

  

Loss before equity in net earnings of subsidiaries

      (9,403 )      (12,611 )      (12,560 ) 

Equity in net earnings of subsidiaries

      79,883       93,473       86,046  
  

 

 

    

 

 

    

 

 

  

Net income

    $ 70,480     $ 80,862     $ 73,486  
  

 

 

    

 

 

    

 

 

  

 

 

See accompanying note to condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

SCHEDULE II

HORACE MANN EDUCATORS CORPORATION

(Parent Company Only)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF CASH FLOWS

(Dollars in thousands)

 

     Year Ended December 31,  
     2011      2010      2009  

Cash flows – operating activities

         

Interest expense paid

    $ (13,515 )     $ (13,605 )     $ (14,052 ) 

Federal income taxes recovered

      12,058        4,876        4,245  

Cash dividends received from subsidiaries

      26,000        44,000        24,000  

Other, net

      (10,012 )       359        (8,848 ) 
  

 

 

     

 

 

     

 

 

  

Net cash provided by operating activities

      14,531        35,630        5,345  
  

 

 

     

 

 

     

 

 

  

Cash flows - investing activities

         

Net (increase) decrease in investments

      4,240        (1,641 )       4,591  

Capital contributions to subsidiaries

      -         (24,000 )       -   
  

 

 

     

 

 

     

 

 

  

Net cash provided by (used in) investing activities

      4,240        (25,641 )       4,591  
  

 

 

     

 

 

     

 

 

  

Cash flows - financing activities

         

Dividends paid to shareholders

      (18,990 )       (14,288 )       (9,635 ) 

Acquisition of treasury stock

      (2,047 )       -         -   

Exercise of stock options

      2,127        4,167        -   

Principal borrowings on Bank Credit Facility

      -         -         -   
  

 

 

     

 

 

     

 

 

  

Net cash used in financing activities

      (18,910 )       (10,121 )       (9,635 ) 
  

 

 

     

 

 

     

 

 

  

Net increase (decrease) in cash

      (139 )       (132 )       301  

Cash at beginning of period

      268        400        99  
  

 

 

     

 

 

     

 

 

  

Cash at end of period

    $ 129      $ 268      $ 400  
  

 

 

     

 

 

     

 

 

  

 

See accompanying note to condensed financial statements.

See accompanying Report of Independent Registered Public Accounting Firm.

SCHEDULE II

HORACE MANN EDUCATORS CORPORATION

(Parent Company Only)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

NOTE TO CONDENSED FINANCIAL STATEMENTS

The accompanying condensed financial statements should be read in conjunction with the Consolidated Financial Statements and the accompanying notes thereto.