Cno financial group, inc. (CNO)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Dec'09
Assets [Abstract]
Investments:
Debt Securities, Available-for-sale

20,379

21,295

21,089

20,437

19,468

18,447

18,512

22,080

22,375

22,910

22,129

22,071

21,378

21,096

21,822

20,989

20,105

19,882

20,144

20,224

21,058

20,634

20,610

20,533

20,143

23,204

23,497

23,623

24,894

24,614

24,742

24,276

23,777

23,516

23,016

21,622

20,852

20,633

21,007

19,935

18,528

Equity Securities, FV-NI

50

44

39

38

40

291

-

-

-

440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans (net of allowance for credit losses of $8.3 at March 31, 2020)

1,484

1,566

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans

-

-

1,561

1,596

1,626

1,602

1,680

1,649

1,601

1,650

1,667

1,734

1,788

1,768

1,749

1,732

1,700

1,721

1,712

1,665

1,699

1,691

1,621

1,595

1,501

1,729

1,635

1,692

1,639

1,573

1,597

1,550

1,546

1,602

1,648

1,752

1,751

1,761

1,825

1,948

1,965

Equity securities at fair value (cost: September 30, 2018 - $340.8; December 31, 2017 - $420.0)

50

44

39

38

40

291

335

366

498

440

713

622

587

584

331

541

610

463

437

433

427

419

372

287

277

223

262

241

216

171

180

187

176

175

164

129

105

68

41

31

31

Policy loans

124

124

122

121

121

119

117

116

116

116

114

112

112

112

110

110

110

109

109

108

107

106

106

99

102

277

267

269

271

272

274

274

277

279

279

279

281

284

290

292

295

Trading securities

227

243

247

248

237

233

239

254

289

284

294

308

341

363

307

289

285

262

257

257

252

244

235

227

235

247

246

241

229

266

199

114

122

91

81

83

403

372

389

360

293

Investments held by variable interest entities (net of allowance for credit losses of $37.7 at March 31, 2020; amortized cost: March 31, 2020 - $1,216.4; December 31, 2019 - $1,206.3)

1,038

1,188

1,204

1,215

1,241

1,468

1,550

1,543

1,583

1,526

1,382

1,309

1,514

1,724

1,794

1,807

1,691

1,633

1,488

1,565

1,499

1,367

1,343

1,241

1,134

1,046

1,080

1,087

1,009

814

829

789

564

496

453

414

401

420

454

478

0

Securities lending collateral

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

77

180

Other invested assets

953

1,118

1,070

1,018

943

833

920

946

951

924

752

722

665

589

607

525

433

415

395

435

453

443

394

426

409

423

330

312

309

248

265

257

270

202

190

252

272

240

189

167

236

Total investments

24,257

25,580

25,335

24,676

23,679

22,995

23,355

26,955

27,416

27,854

27,054

26,881

26,387

26,237

26,722

25,997

24,936

24,487

24,545

24,690

25,498

24,908

24,683

24,411

23,804

27,151

27,320

27,467

28,572

27,959

28,087

27,450

26,736

26,364

25,835

24,534

24,067

23,782

24,199

23,291

21,530

Cash and cash equivalents - unrestricted

482

580

760

557

621

594

539

639

610

578

765

548

530

478

706

437

635

432

613

453

426

611

452

378

285

699

376

280

251

582

415

190

173

436

461

580

424

571

548

323

523

Cash and cash equivalents held by variable interest entities

68

74

61

50

69

62

56

106

115

178

105

391

354

189

147

160

190

364

106

150

158

68

150

101

140

104

85

210

462

54

48

88

65

74

19

25

27

26

18

13

3

Accrued investment income

213

205

212

211

214

205

224

252

268

245

268

240

258

239

255

228

247

237

260

240

257

242

255

238

259

286

306

294

315

286

317

296

313

288

301

314

336

327

345

323

309

Present value of future profits

282

275

284

299

333

343

351

345

350

359

368

377

388

401

407

417

432

449

454

465

472

489

505

512

527

679

578

591

606

626

642

658

675

697

714

936

970

1,008

1,028

1,077

1,175

Deferred acquisition costs

1,398

1,215

1,138

1,253

1,289

1,322

1,291

1,237

1,083

1,026

1,023

1,012

1,028

1,044

909

911

954

1,083

909

877

767

770

746

698

740

968

846

762

654

629

623

591

790

797

1,444

1,762

1,766

999

1,612

1,700

1,790

Reinsurance receivables (net of allowance for credit losses of $4.0 at March 31, 2020)

4,727

4,785

4,802

4,829

4,879

4,925

4,946

2,127

2,153

2,175

2,195

2,217

2,241

2,260

2,290

2,820

2,839

2,859

2,903

2,925

2,958

2,991

3,023

2,892

3,072

3,392

2,822

2,838

2,879

2,927

2,967

3,013

3,052

3,091

3,131

3,172

3,219

3,256

3,315

3,357

3,559

Deferred Income Tax Assets, Net, Including Net of Current Income Tax Payable

703

432

241

348

479

630

577

484

450

366

567

594

697

789

606

677

828

898

862

827

669

758

731

730

870

1,147

1,135

931

708

716

699

679

819

865

687

703

798

1,127

536

769

1,124

Assets held in separate accounts

3

4

4

4

4

4

5

4

4

5

4

4

4

4

4

4

4

4

5

5

5

5

6

9

10

10

13

15

15

14

15

15

16

15

15

17

18

17

16

15

17

Other assets

599

476

438

485

741

356

299

318

356

319

350

573

535

328

370

368

388

309

350

413

381

309

420

421

401

341

432

385

433

334

338

395

402

292

314

349

439

277

352

349

310

Assets of subsidiary being sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,518

4,346

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total assets

32,735

33,630

33,279

32,716

32,314

31,439

31,647

32,472

32,809

33,110

32,704

32,841

32,427

31,975

32,420

32,022

31,458

31,125

31,011

31,049

31,594

31,155

30,975

34,914

34,458

34,780

33,917

33,775

34,899

34,131

34,156

33,380

33,046

32,921

32,925

32,396

32,067

31,394

31,973

31,220

30,343

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Liabilities for insurance products:
Policyholder account liabilities

12,138

12,132

11,845

11,758

11,658

11,522

11,449

11,349

11,254

11,220

11,113

11,037

10,975

10,912

10,817

10,754

10,772

10,762

10,728

10,689

10,697

10,707

10,659

10,649

10,625

12,776

12,781

12,784

12,867

12,913

12,930

12,956

13,103

13,165

13,168

13,152

13,161

13,194

13,217

13,177

13,219

Future policy benefits

11,429

11,498

11,576

11,407

11,252

11,153

11,140

11,268

11,312

11,521

11,374

11,271

11,057

10,953

11,354

11,127

10,768

10,602

10,691

10,588

10,962

10,835

10,519

10,372

10,138

11,222

10,873

10,834

11,130

11,319

11,004

10,604

10,517

10,482

10,444

10,424

10,357

10,307

10,253

10,199

10,063

Liability for policy and contract claims

510

522

508

517

521

521

513

499

509

530

519

506

498

500

492

489

488

487

484

484

474

468

464

463

482

566

995

1,006

996

559

977

991

1,000

1,034

985

978

979

968

939

946

994

Unearned and advanced premiums

251

260

242

248

255

253

249

260

270

261

262

282

292

282

278

284

292

286

281

268

278

291

270

270

279

300

-

-

-

282

-

-

-

-

-

-

-

-

-

-

-

Liabilities related to separate accounts

3

4

4

4

4

4

5

4

4

5

4

4

4

4

4

4

4

4

5

5

5

5

6

9

10

10

13

15

15

14

15

15

16

15

15

17

18

17

16

15

17

Other liabilities

850

750

762

740

804

632

689

654

869

751

789

866

798

611

730

731

788

707

739

742

667

587

704

560

727

590

712

626

903

570

709

686

721

556

576

703

643

505

833

683

610

Payable to reinsurer

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

590

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Investment borrowings

1,643

1,644

1,644

1,645

1,645

1,645

1,646

1,646

1,646

1,646

1,646

1,647

1,647

1,647

1,647

1,547

1,548

1,548

1,543

1,518

1,518

1,519

1,519

1,507

1,499

1,900

1,850

1,878

1,880

1,650

1,650

1,687

1,684

1,676

1,509

1,305

1,203

1,204

653

454

683

Borrowings related to variable interest entities

1,152

1,152

1,153

1,153

1,416

1,417

1,417

1,418

1,410

1,410

1,198

1,532

1,634

1,662

1,690

1,715

1,656

1,676

1,442

1,461

1,461

1,271

1,295

1,110

1,019

1,012

1,035

1,143

1,143

767

766

766

519

519

405

317

354

386

425

449

0

Securities lending payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

82

185

Notes payable – direct corporate obligations

989

989

988

988

917

916

916

915

915

914

914

913

913

912

912

912

911

911

925

925

774

780

814

827

844

856

868

905

934

1,004

1,035

778

799

857

871

934

949

998

1,029

1,029

1,037

Liabilities of subsidiary being sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,298

4,122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total liabilities

28,969

28,953

28,726

28,463

28,476

28,068

28,027

28,017

28,191

28,262

27,822

28,062

27,820

27,488

27,926

27,566

27,231

26,986

26,840

26,684

26,841

26,467

26,253

30,070

29,748

29,825

29,130

29,194

29,870

29,082

29,089

28,487

28,363

28,308

27,976

27,833

27,667

27,583

27,369

27,038

26,811

Commitments and Contingencies

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

Shareholders' equity:
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: March 31, 2020 – 143,610,046; December 31, 2019 – 148,084,178)

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

Additional paid-in capital

2,688

2,767

2,834

2,903

2,952

2,995

3,030

3,021

3,075

3,073

3,094

3,116

3,177

3,212

3,206

3,251

3,304

3,386

3,435

3,554

3,648

3,732

3,803

3,963

4,054

4,092

4,121

4,128

4,173

4,174

4,251

4,312

4,345

4,361

4,379

4,414

4,426

4,424

4,421

4,418

4,408

Accumulated Other Comprehensive Income (Loss), Net of Tax

595

1,372

1,442

1,098

654

177

403

700

894

1,212

933

894

729

622

855

777

540

402

510

605

934

825

859

926

766

731

634

698

1,170

1,197

1,234

990

808

781

597

372

257

252

688

318

-264

Retained earnings

480

535

274

249

229

196

184

731

645

560

851

766

698

650

430

425

380

347

222

202

169

128

56

-47

-112

128

29

-247

-317

-325

-421

-412

-473

-532

-30

-226

-285

-867

-507

-557

-614

Total shareholders' equity

3,765

4,677

4,553

4,252

3,837

3,370

3,619

4,454

4,617

4,847

4,881

4,779

4,606

4,486

4,493

4,456

4,226

4,138

4,171

4,364

4,753

4,688

4,722

4,844

4,710

4,955

4,786

4,581

5,028

5,049

5,066

4,893

4,683

4,613

4,948

4,563

4,400

3,811

4,604

4,182

3,532

Total liabilities and shareholders' equity

32,735

33,630

33,279

32,716

32,314

31,439

31,647

32,472

32,809

33,110

32,704

32,841

32,427

31,975

32,420

32,022

31,458

31,125

31,011

31,049

31,594

31,155

30,975

34,914

34,458

34,780

33,917

33,775

34,899

34,131

34,156

33,380

33,046

32,921

32,925

32,396

32,067

31,394

31,973

31,220

30,343