Cno financial group, inc. (CNO)
Income statement / 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'10Mar'10Sep'09Jun'09
Revenues:
Insurance policy income

2,490

2,480

2,474

2,511

2,552

2,593

2,636

2,639

2,643

2,647

2,641

2,631

2,620

2,601

2,585

2,577

2,563

2,556

2,549

2,541

2,580

2,629

2,673

2,727

2,739

2,744

2,752

2,756

2,760

2,755

2,741

2,724

2,709

2,690

2,683

2,684

2,672

2,670

2,779

2,895

0

0

0

Net investment income:
General account assets

1,116

1,105

1,121

1,177

1,219

1,279

1,314

1,308

1,302

1,285

1,275

1,251

1,225

1,204

1,191

1,188

1,194

1,203

1,205

1,207

1,253

1,301

1,350

1,400

1,402

1,405

1,404

1,402

1,405

1,398

1,389

1,378

1,369

1,360

1,348

1,337

1,315

1,295

1,269

1,251

0

0

0

Policyholder and other special-purpose portfolios

60

257

50

112

100

26

228

195

203

265

210

200

184

121

111

41

25

30

44

86

122

126

182

216

201

258

159

149

100

87

95

1

21

-6

12

111

85

71

101

66

0

0

0

Realized investment gains (losses):
Net realized gains on the transfer of assets related to reinsurance transaction

-

-

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized investment gains (losses)

-37

40

-8

19

24

-8

31

32

45

77

67

45

55

47

57

37

2

-8

-1

13

27

64

77

73

65

45

42

71

103

118

0

0

0

-

221

215

213

180

8

-39

0

0

0

Change in allowance for credit losses and other-than-temporary impairment losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairments:
Total other-than-temporary impairment losses

-

-

6

4

-

2

6

9

0

-

0

0

-

32

43

54

48

39

34

24

16

27

22

22

23

11

6

27

29

37

48

27

34

39

141

161

180

146

-3

-63

0

0

0

Portion of other-than-temporary impairment losses recognized in accumulated other comprehensive income

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

-

-

0

-

-

-

0

-

-

0

0

0

0

0

-5

-5

-5

-5

5

7

5

3

124

139

0

0

0

Net impairment losses recognized

-

-

-

-

-

-

-

-

-

22

18

27

0

-

0

0

-

-

0

-

-

-

0

-

-

11

6

27

29

37

42

22

29

34

106

127

145

149

232

261

0

0

0

Loss on dissolution of variable interest entity

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

-

11

11

11

11

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total realized gains (losses)

-103

28

-14

377

383

352

388

23

27

50

37

19

17

8

7

-23

-46

-36

-23

-0

22

36

54

50

41

33

35

44

73

81

87

108

79

61

86

59

40

30

-38

-58

0

0

0

Fee revenue and other income

146

143

93

82

72

62

57

57

57

48

47

45

48

50

52

55

56

58

66

69

60

50

42

34

33

34

27

24

22

19

19

19

18

18

17

17

16

16

15

14

0

0

0

Total revenues

3,710

4,015

3,725

4,262

4,328

4,313

4,625

4,223

4,234

4,297

4,212

4,148

4,095

3,985

3,949

3,838

3,794

3,811

3,842

3,904

4,038

4,144

4,302

4,429

4,418

4,476

4,378

4,377

4,361

4,342

4,333

4,232

4,199

4,124

4,149

4,209

4,130

4,083

4,126

4,169

0

0

0

Benefits and expenses:
Insurance policy benefits

2,284

2,417

2,243

2,307

2,315

2,278

2,512

2,504

2,520

2,602

2,470

2,442

2,440

2,390

2,413

2,385

2,321

2,308

2,395

2,379

2,501

2,586

2,657

2,793

2,775

2,839

2,769

2,812

2,829

2,763

2,794

2,710

2,704

2,699

2,702

2,741

2,707

2,723

2,832

2,913

0

0

0

Loss related to reinsurance transactions

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-239

341

373

377

98

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transition expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain related to reinsurance transaction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

144

152

156

158

157

149

141

132

126

123

122

122

119

116

110

104

101

94

92

90

89

92

96

100

102

105

107

111

113

114

114

113

113

114

114

115

114

113

116

120

0

0

0

Amortization

224

232

225

235

250

264

253

249

247

239

253

259

254

253

246

237

256

260

245

255

246

247

273

269

283

296

293

292

281

289

289

286

289

297

231

291

317

325

431

414

0

0

0

Loss on extinguishment of debt

-

-

0

0

-

-

0

0

-

-

0

0

-

-

0

-

-

-

0

0

-

-

0

0

-

-65

-66

-264

-257

-200

-199

-2

-2

-3

-7

-6

-6

-6

-2

-2

0

0

0

Loss on extinguishment of borrowings related to variable interest entities

-

-

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating costs and expenses

912

932

888

875

841

814

818

831

838

841

824

793

795

796

772

775

752

739

786

787

806

802

793

792

770

766

760

788

781

819

794

759

761

704

847

793

742

690

497

499

0

0

0

Total benefits and expenses

3,572

3,741

3,521

4,651

4,636

4,578

4,801

3,730

3,742

3,816

3,676

3,693

3,686

3,631

3,617

3,502

3,468

3,444

3,559

3,519

3,611

3,969

4,162

4,329

4,317

4,171

3,997

4,269

4,263

4,187

4,192

3,871

3,871

3,818

3,902

3,947

3,888

3,859

3,880

3,951

0

0

0

Income (loss) before income taxes

137

274

203

-389

-307

-264

-176

493

491

480

535

455

409

353

332

335

325

367

283

385

427

175

140

100

100

304

381

108

98

155

140

360

328

306

246

262

242

224

246

218

0

0

0

Income tax expense (benefit):
Tax expense (benefit) on period income

28

58

41

-85

-67

-57

-24

134

152

162

189

162

147

127

117

118

115

129

100

135

149

159

147

131

134

128

158

110

106

106

99

135

121

113

89

91

85

79

87

77

0

0

0

Valuation allowance for deferred tax assets and other tax items

0

-

0

-

0

-

0

-

-

-

0

-

-

-132

-45

-59

-52

-32

-34

-50

-54

-35

-80

-270

-271

-301

-250

-187

-182

-171

-286

0

0

-

0

-

-

-

0

-

-

0

0

Net income (loss)

336

409

159

-412

-347

-315

-414

216

197

175

480

398

375

358

261

276

263

270

217

300

332

51

73

239

238

478

473

185

173

221

184

368

349

335

395

265

252

240

131

110

0

0

0

Earnings per common share:
Basic:
Weighted average shares outstanding (in shares)

145

150

154

158

160

164

164

166

167

167

168

170

173

173

174

178

180

185

190

195

200

204

210

216

220

221

222

220

222

225

231

237

240

242

246

250

251

251

251

250

250

184

184

Net income (loss) (in dollars per share)

-0.15

1.79

0.27

0.24

0.32

0.20

-3.22

0.62

0.50

-0.42

0.60

0.49

0.36

1.33

0.11

0.34

0.25

0.72

0.18

0.24

0.26

0.35

0.56

0.36

-1.03

0.49

1.27

0.35

0.05

0.44

-0.02

0.28

0.25

0.26

0.73

0.18

0.18

0.49

0.20

0.13

0.14

0.08

0.15

Diluted:
Weighted average shares outstanding (in shares)

145

151

155

159

162

159

164

167

169

170

170

172

175

175

175

180

182

187

192

198

202

212

215

222

220

227

229

230

243

303

231

293

297

298

302

308

307

306

306

302

292

185

185

Net income (loss) (in dollars per share)

-0.15

1.78

0.27

0.24

0.32

0.21

-3.22

0.61

0.50

-0.41

0.59

0.48

0.36

1.32

0.11

0.33

0.25

0.71

0.18

0.24

0.26

0.38

0.54

0.35

-1.03

0.44

1.23

0.34

0.05

0.40

-0.02

0.24

0.21

0.22

0.61

0.16

0.16

0.42

0.17

0.12

0.13

0.08

0.15