EX-12.1 2 cno03312013ex121.htm EXHIBIT 12.1 CNO 03.31.2013 EX 12.1


Exhibit 12.1

CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

 
Three months ended March 31, 2013
 
Year ended December 31, 2012
Pretax income from operations:
 
 
 
Net income
$
11.9

 
$
221.0

Add income tax expense (benefit)
22.7

 
(65.3
)
Pretax income from operations
34.6

 
155.7

Add fixed charges:
 
 
 
Interest expense on corporate debt
15.1

 
66.2

Interest expense on investment borrowings and borrowings related to variable interest entities
12.2

 
48.4

Interest added to policyholder account balances
63.1

 
260.5

Portion of rental (a)
3.2

 
14.6

Fixed charges
93.6

 
389.7

Adjusted earnings
$
128.2

 
$
545.4

Ratio of earnings to fixed charges
1.37X

 
1.40X

____________________
(a)
Interest portion of rental is estimated to be 33 percent.