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CNO Financial Group, Inc. (CNO)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Washington National | | | | | | 942.6 | 916.4 | 898.7 |
| Bankers Life | | | | | | 2,436.0 | 2,236.1 | 2,561.1 |
| Colonial Penn | | | | | | 337.5 | 326.7 | 307.5 |
| Corporate operations | | | | | | 44.0 | 26.6 | 19.9 |
| Other | | | | | | 537.1 | 479.3 | 24.7 |
| Total revenues | 3,576.8 | 4,122.2 | 3,821.1 | 4,015.8 | 4,313.5 | 4,297.2 | 3,985.1 | 3,811.9 |
| Revenue growth | -13.2% | 7.9% | -4.8% | -6.9% | 0.4% | 7.8% | 4.5% | -8.0% |
| Loss and loss adjustment expenses | 1,658.3 | 2,190.7 | 2,157.9 | 2,417.0 | 2,278.6 | 2,602.7 | 2,390.5 | 2,308.3 |
| Policy acquisition costs | 282.7 | 252.4 | 233.4 | 195.4 | 219.2 | 184.9 | 191.1 | 190.9 |
| Other operating expenses | 981.5 | 1,016.0 | 976.7 | 976.9 | 1,930.7 | 905.4 | 933.9 | 850.1 |
| Equity in earnings | | | | | | 77.4 | 47.9 | -8.0 |
| EBITDA | 1,017.4 | 998.1 | 772.4 | 694.8 | 187.8 | 878.5 | 756.0 | 727.0 |
| EBITDA margin | 28.4% | 24.2% | 20.2% | 17.3% | 4.4% | 20.4% | 19.0% | 19.1% |
| Depreciation | 345.3 | 319.5 | 303.9 | 267.9 | 292.2 | 265.4 | 275.0 | 283.4 |
| EBIT | 672.1 | 678.6 | 468.5 | 426.9 | -104.4 | 613.1 | 481.0 | 443.6 |
| EBIT margin | 18.8% | 16.5% | 12.3% | 10.6% | -2.4% | 14.3% | 12.1% | 11.6% |
| Interest income, net [+] | -341.9 | 275.8 | -51.3 | -77.6 | -79.5 | 129.1 | -15.3 | -123.5 |
| Interest expense | 137.0 | 95.4 | 108.8 | 152.3 | 149.8 | 123.7 | 116.4 | 94.9 |
| Interest income | -204.9 | 371.2 | 57.5 | 74.7 | 70.3 | 252.8 | 101.1 | -28.6 |
| Other income (expense), net | -17.8 | -15.5 | -15.4 | -7.7 | -10.6 | -8.9 | -11.4 | -13.8 |
| Pre-tax income | 517.3 | 567.7 | 344.3 | 274.2 | -264.8 | 480.5 | 353.2 | 367.7 |
| Income taxes | 120.5 | 126.7 | 42.5 | -135.2 | 50.2 | 304.9 | -5.0 | 97.0 |
| Tax rate | 23.3% | 22.3% | 12.3% | | | 63.5% | | 26.4% |
| Net income | 396.8 | 441.0 | 301.8 | 409.4 | -315.0 | 175.6 | 358.2 | 270.7 |
| Net margin | 11.1% | 10.7% | 7.9% | 10.2% | -7.3% | 4.1% | 9.0% | 7.1% |
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| Basic EPS | $3.43 | $3.43 | $2.12 | $2.62 | ($1.90) | $1.03 | $2.03 | $1.40 |
| Diluted EPS | $1.13 | $1.13 | $0.70 | $0.87 | ($1.90) | $0.34 | $2.01 | $1.39 |
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| Shares outstanding (basic) | 115.7 | 128.4 | 142.1 | 156.0 | 165.5 | 170.0 | 176.6 | 193.1 |
| Shares outstanding (diluted) | 351.2 | 390.7 | 428.4 | 470.3 | 165.5 | 514.3 | 178.3 | 195.2 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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