XML 43 R25.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Condensed Financial Information of Registrant | 12 Months Ended
--- | ---
Dec. 31, 2014
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, 2014 and 2013 (Dollars in thousands, except per share data)
|  | December 31, |
|  |  | 2014 |  |  |  | 2013 |
ASSETS
Investments and cash |  | $ | 28,640 |  |  | $ | 24,387 |
Investment in subsidiaries |  |  | 1,515,769 |  |  |  | 1,282,614 |
Other assets |  |  | 58,365 |  |  |  | 60,164 |
Total assets |  | $ | 1,602,774 |  |  | $ | 1,367,165 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Short-term debt |  | $ | 38,000 |  |  | $ | 38,000 |
Long-term debt, current and noncurrent |  |  | 199,939 |  |  |  | 199,874 |
Other liabilities |  |  | 28,372 |  |  |  | 29,986 |
Total liabilities |  |  | 266,311 |  |  |  | 267,860 |
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, 2014, 64,245,048; 2013, 63,629,105 |  |  | 64 |  |  |  | 64 |
Additional paid-in capital |  |  | 422,232 |  |  |  | 407,056 |
Retained earnings |  |  | 1,065,318 |  |  |  | 1,000,312 |
Accumulated other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |
Net unrealized gains on fixed maturities and equity securities |  |  | 297,554 |  |  |  | 133,990 |
Net funded status of pension and other postretirement benefit obligations |  |  | (12,953 | ) |  |  | (11,776 | )
Treasury stock, at cost, 2014, 23,308,430 shares; 2013, 23,117,554 shares |  |  | (435,752 | ) |  |  | (430,341 | )
Total shareholders' equity |  |  | 1,336,463 |  |  |  | 1,099,305 |
Total liabilities and shareholders' equity |  | $ | 1,602,774 |  |  | $ | 1,367,165 |
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, |
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  | $ | 10 |  |  | $ | 6 |  |  | $ | 2 |
Realized investment gains |  |  | - |  |  |  | 208 |  |  |  | - |
Total revenues |  |  | 10 |  |  |  | 214 |  |  |  | 2 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest |  |  | 14,198 |  |  |  | 14,236 |  |  |  | 14,249 |
Other |  |  | 5,071 |  |  |  | 4,832 |  |  |  | 4,576 |
Total expenses |  |  | 19,269 |  |  |  | 19,068 |  |  |  | 18,825 |
Loss before income tax benefit and equity in net earnings of subsidiaries |  |  | (19,259 | ) |  |  | (18,854 | ) |  |  | (18,823 | )
Income tax benefit |  |  | (6,734 | ) |  |  | (6,599 | ) |  |  | (6,196 | )
Loss before equity in net earnings of subsidiaries |  |  | (12,525 | ) |  |  | (12,255 | ) |  |  | (12,627 | )
Equity in net earnings of subsidiaries |  |  | 116,768 |  |  |  | 123,148 |  |  |  | 116,493 |
Net income |  | $ | 104,243 |  |  | $ | 110,893 |  |  | $ | 103,866 |
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, |
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Cash flows - operating activities |  |  |  |  |  |  |  |  |  |  |  |
Interest expense paid |  | $ | (13,902 | ) |  | $ | (13,825 | ) |  | $ | (13,948 | )
Federal income taxes recovered (paid) |  |  | 8,740 |  |  |  | 5,996 |  |  |  | (118 | )
Cash dividends received from subsidiaries |  |  | 46,000 |  |  |  | 41,000 |  |  |  | 50,000 |
Other, net, including settlement of payables to subsidiaries |  |  | (188 | ) |  |  | (21,235 | ) |  |  | 7,703 |
Net cash provided by operating activities |  |  | 40,650 |  |  |  | 11,936 |  |  |  | 43,637 |
Cash flows - investing activities |  |  |  |  |  |  |  |  |  |  |  |
Net (increase) decrease in investments |  |  | (4,647 | ) |  |  | 5,488 |  |  |  | (10,762 | )
Net cash provided by (used in) investing activities |  |  | (4,647 | ) |  |  | 5,488 |  |  |  | (10,762 | )
Cash flows - financing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends paid to shareholders |  |  | (39,237 | ) |  |  | (32,550 | ) |  |  | (22,541 | )
Acquisition of treasury stock |  |  | (5,411 | ) |  |  | (3,889 | ) |  |  | (15,735 | )
Exercise of stock options |  |  | 8,252 |  |  |  | 19,336 |  |  |  | 5,421 |
Net cash used in financing activities |  |  | (36,396 | ) |  |  | (17,103 | ) |  |  | (32,855 | )
Net increase (decrease) in cash |  |  | (393 | ) |  |  | 321 |  |  |  | 20 |
Cash at beginning of period |  |  | 470 |  |  |  | 149 |  |  |  | 129 |
Cash at end of period |  | $ | 77 |  |  | $ | 470 |  |  | $ | 149 |
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.

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration