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SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE II - Condensed Financial Information of Registrant (Parent Company)
SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)
Balance Sheet
as of December 31, 2022 and 2021
(Dollars in millions)

ASSETS
20222021
Cash and cash equivalents - unrestricted$136.7 $196.2 
Equity securities at fair value36.6 49.9 
Investment in wholly-owned subsidiaries (eliminated in consolidation)2,292.4 6,054.3 
Income tax assets, net154.9 164.5 
Receivable from subsidiaries (eliminated in consolidation)114.9 156.9 
Other assets2.2 1.2 
Total assets$2,737.7 $6,623.0 
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Notes payable$1,138.8 $1,137.3 
Payable to subsidiaries (eliminated in consolidation)172.0 146.9 
Other liabilities26.1 79.1 
Total liabilities1,336.9 1,363.3 
Commitments and Contingencies
Shareholders' equity:
Common stock and additional paid-in capital ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2022 - 114,343,070; 2021 - 120,377,152)
2,034.9 2,185.4 
Accumulated other comprehensive income (loss)(2,093.1)1,947.1 
Retained earnings1,459.0 1,127.2 
Total shareholders' equity1,400.8 5,259.7 
Total liabilities and shareholders' equity$2,737.7 $6,623.0 
SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)

Statement of Operations
for the years ended December 31, 2022, 2021 and 2020
(Dollars in millions)

202220212020
Revenues:
Net investment income$9.8 $7.4 $28.7 
Net investment income - affiliated3.0 .3 .8 
Net investment gains (losses)(.6)(.2).2 
Total revenues12.2 7.5 29.7 
Expenses:
Interest expense62.5 62.4 55.2 
Intercompany expenses (eliminated in consolidation)3.8 .5 1.1 
Operating costs and expenses.2 38.5 65.9 
Total expenses66.5 101.4 122.2 
Loss before income taxes and equity in undistributed earnings of subsidiaries(54.3)(93.9)(92.5)
Income tax benefit(18.3)(26.0)(28.2)
Loss before equity in undistributed earnings of subsidiaries(36.0)(67.9)(64.3)
Equity in undistributed earnings of subsidiaries (eliminated in consolidation)432.8 508.9 366.1 
Net income$396.8 $441.0 $301.8 






















The accompanying notes are an integral part
of the condensed financial statements.
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

SCHEDULE II

Condensed Financial Information of Registrant (Parent Company)
Statement of Cash Flows
for the years ended December 31, 2022, 2021 and 2020
(Dollars in millions)
202220212020
Cash flows from operating activities$(143.2)$(153.2)$(136.3)
Cash flows from investing activities:
Sales of investments24.6 — 18.4 
Purchases of investments(11.8)(50.0)(18.2)
Net sales of trading securities7.7 8.4 26.8 
Dividends received from consolidated subsidiary*69.6 328.3 324.7 
Net cash provided by investing activities90.1 286.7 351.7 
Cash flows from financing activities:
Issuance of notes payable, net— — 145.8 
Issuance of common stock13.5 21.5 19.0 
Payments to repurchase common stock(190.1)(407.8)(268.3)
Common stock dividends paid(64.8)(65.7)(67.0)
Issuance of notes payable to affiliates*349.5 249.7 308.1 
Payments on notes payable to affiliates*(114.5)(125.3)(143.6)
Debt issuance costs— (1.0)— 
Net cash used by financing activities(6.4)(328.6)(6.0)
Net increase (decrease) in cash and cash equivalents(59.5)(195.1)209.4 
Cash and cash equivalents, beginning of the year196.2 391.3 181.9 
Cash and cash equivalents, end of the year$136.7 $196.2 $391.3 

* Eliminated in consolidation



















The accompanying notes are an integral part
of the condensed financial statements.
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

SCHEDULE II

Notes to Condensed Financial Information
Basis of PresentationThe condensed financial information should be read in conjunction with the consolidated financial statements of CNO Financial Group, Inc. The condensed financial information includes the accounts and activity of the parent company.