XML 43 R25.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2014
Condensed Financial Information of Registrant [Abstract]  
Condensed Financial Information of Registrant
SCHEDULE II
 
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
 
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 
BALANCE SHEETS
As of December 31, 2014 and 2013
(Dollars in thousands, except per share data)
 
 
 
December 31,
 
 
 
 
2014
 
 
 
2013
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Investments and cash
 
$
28,640
 
 
$
24,387
 
Investment in subsidiaries
 
 
1,515,769
 
 
 
1,282,614
 
Other assets
 
 
58,365
 
 
 
60,164
 
 
 
 
 
 
 
 
 
 
Total assets
 
$
1,602,774
 
 
$
1,367,165
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Short-term debt
 
$
38,000
 
 
$
38,000
 
Long-term debt, current and noncurrent
 
 
199,939
 
 
 
199,874
 
Other liabilities
 
 
28,372
 
 
 
29,986
 
 
 
 
 
 
 
 
 
 
Total liabilities
 
 
266,311
 
 
 
267,860
 
 
 
 
 
 
 
 
 
 
Preferred stock, $0.001 par value, authorized
1,000,000 shares; none issued
 
 
-
 
 
 
-
 
Common stock, $0.001 par value, authorized 75,000,000 shares;
issued, 2014, 64,245,048; 2013, 63,629,105
 
 
64
 
 
 
64
 
Additional paid-in capital
 
 
422,232
 
 
 
407,056
 
Retained earnings
 
 
1,065,318
 
 
 
1,000,312
 
Accumulated other comprehensive income (loss), net of taxes:
 
 
 
 
 
 
 
 
Net unrealized gains on fixed maturities
and equity securities
 
 
297,554
 
 
 
133,990
 
Net funded status of pension and other
postretirement benefit obligations
 
 
(12,953
)
 
 
(11,776
)
Treasury stock, at cost, 2014, 23,308,430 shares;
2013, 23,117,554 shares
 
 
(435,752
)
 
 
(430,341
)
 
 
 
 
 
 
 
 
 
Total shareholders' equity
 
 
1,336,463
 
 
 
1,099,305
 
 
 
 
 
 
 
 
 
 
Total liabilities and shareholders' equity
 
$
1,602,774
 
 
$
1,367,165
 
 
See accompanying Note to Condensed Financial Statements.
 
See accompanying Report of Independent Registered Public Accounting Firm.
 
SCHEDULE II
 
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
 
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 
STATEMENTS OF OPERATIONS
 
(Dollars in thousands)
 
 
 
Year Ended December 31,
 
 
 
 
2014
 
 
 
2013
 
 
 
2012
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
$
10
 
 
$
6
 
 
$
2
 
Realized investment gains
 
 
-
 
 
 
208
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
10
 
 
 
214
 
 
 
2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
Interest
 
 
14,198
 
 
 
14,236
 
 
 
14,249
 
Other
 
 
5,071
 
 
 
4,832
 
 
 
4,576
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total expenses
 
 
19,269
 
 
 
19,068
 
 
 
18,825
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss before income tax benefit
and equity in net earnings of subsidiaries
 
 
(19,259
)
 
 
(18,854
)
 
 
(18,823
)
Income tax benefit
 
 
(6,734
)
 
 
(6,599
)
 
 
(6,196
)
Loss before equity in net earnings of subsidiaries
 
 
(12,525
)
 
 
(12,255
)
 
 
(12,627
)
Equity in net earnings of subsidiaries
 
 
116,768
 
 
 
123,148
 
 
 
116,493
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
104,243
 
 
$
110,893
 
 
$
103,866
 
 
See accompanying Note to Condensed Financial Statements.
 
See accompanying Report of Independent Registered Public Accounting Firm.
 
SCHEDULE II
 
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
 
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 
STATEMENTS OF CASH FLOWS
 
(Dollars in thousands)
 
 
 
Year Ended December 31,
 
 
 
 
2014
 
 
 
2013
 
 
 
2012
 
Cash flows - operating activities
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense paid
 
$
(13,902
)
 
$
(13,825
)
 
$
(13,948
)
Federal income taxes recovered (paid)
 
 
8,740
 
 
 
5,996
 
 
 
(118
)
Cash dividends received from subsidiaries
 
 
46,000
 
 
 
41,000
 
 
 
50,000
 
Other, net, including settlement of payables to subsidiaries
 
 
(188
)
 
 
(21,235
)
 
 
7,703
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by operating activities
 
 
40,650
 
 
 
11,936
 
 
 
43,637
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows - investing activities
 
 
 
 
 
 
 
 
 
 
 
 
Net (increase) decrease in investments
 
 
(4,647
)
 
 
5,488
 
 
 
(10,762
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) investing activities
 
 
(4,647
)
 
 
5,488
 
 
 
(10,762
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows - financing activities
 
 
 
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
 
 
(39,237
)
 
 
(32,550
)
 
 
(22,541
)
Acquisition of treasury stock
 
 
(5,411
)
 
 
(3,889
)
 
 
(15,735
)
Exercise of stock options
 
 
8,252
 
 
 
19,336
 
 
 
5,421
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash used in financing activities
 
 
(36,396
)
 
 
(17,103
)
 
 
(32,855
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease)  in cash
 
 
(393
)
 
 
321
 
 
 
20
 
Cash at beginning of period
 
 
470
 
 
 
149
 
 
 
129
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash at end of period
 
$
77
 
 
$
470
 
 
$
149
 
 
See accompanying Note to Condensed Financial Statements.
 
See accompanying Report of Independent Registered Public Accounting Firm.
 
SCHEDULE II
 
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
 
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 
NOTE TO CONDENSED FINANCIAL STATEMENTS
 
The accompanying condensed financial statements should be read in conjunction with the Consolidated Financial Statements and the accompanying notes thereto.