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Schedule II Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Schedule II Condensed Financial Information of Registrant
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
 CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS
As of December 31, 2021 and 2020
($ in millions, except share data)
 
December 31,
20212020
ASSETS
Investments and cash$115.3 $4.1 
Investments in subsidiaries2,191.3 2,121.0 
Other assets11.3 58.9 
Total assets$2,317.9 $2,184.0 
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt$249.0 $135.0 
Long-term debt248.6 248.3 
Other liabilities12.9 10.6 
Total liabilities510.5 393.9 
Preferred stock, $0.001 par value, authorized 1,000,000 shares;
none issued
— — 
Common stock, $1,000 par value, authorized 75,000,000 shares;
issued, 2021, 66,436,821; 2020, 66,316,797
0.1 0.1 
Additional paid-in capital495.3 488.4 
Retained earnings1,524.9 1,434.6 
Accumulated other comprehensive income (loss), net of taxes:  
Net unrealized investment gains on fixed maturity securities290.7 366.3 
Net funded status of benefit plans
(10.2)(11.2)
Treasury stock, at cost, 2021, 25,043,337 shares;
2020, 24,902,579 shares
(493.4)(488.1)
Total shareholders' equity1,807.4 1,790.1 
Total liabilities and shareholders' equity$2,317.9 $2,184.0 
 













See accompanying Note to Condensed Financial Statements.
See accompanying Report of Independent Registered Public Accounting Firm.
SCHEDULE II (continued)
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF OPERATIONS
 ($ in millions)
 
Year Ended December 31,
 202120202019
Revenues   
Net investment income
$(0.1)$(0.2)$(0.1)
Net investment gains— — — 
Total revenues
(0.1)(0.2)(0.1)
Expenses
Interest expense
13.8 14.8 14.3 
Other
11.2 5.7 12.6 
Total expenses
25.0 20.5 26.9 
Loss before income tax benefit and equity in net earnings of subsidiaries(25.1)(20.7)(27.0)
Income tax benefit(5.4)(5.3)(6.0)
Loss before equity in net earnings of subsidiaries(19.7)(15.4)(21.0)
Equity in net earnings of subsidiaries162.5 148.7 205.4 
Net income$142.8 $133.3 $184.4 
 


























See accompanying Note to Condensed Financial Statements.
See accompanying Report of Independent Registered Public Accounting Firm.
SCHEDULE II (continued)
HORACE MANN EDUCATORS CORPORATION
(Parent Company Only)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS
($ in millions)
 
 Year Ended December 31,
 202120202019
Cash flows from operating activities   
Net Income
$142.8 $133.3 $184.4 
Equity in net income of subsidiaries
(162.5)(148.7)(205.4)
Dividends received from subsidiaries
66.0 167.0 363.2 
Changes in:
Income taxes
1.8 2.0 3.4 
Operating assets and liabilities
8.4 (5.9)8.3 
Other
4.1 1.7 0.7 
Net cash provided by operating activities
60.6 149.4 354.6 
Cash flows from investing activities
Purchase of equity securities— 1.0 — 
Net increase (decrease) in short-term investments
2.7 (1.5)3.3 
Capital contributions to subsidiaries(5.0)(97.0)— 
Acquisition of businesses
— — (444.1)
Net cash provided by (used in) investing activities
(2.3)(97.5)(440.8)
Cash flows from financing activities
Dividends paid to shareholders
(51.4)(49.6)(47.3)
Principal borrowings on senior revolving credit facility
114.0 — 135.0 
Acquisition of treasury stock
(5.3)(2.2)— 
Proceeds from exercise of stock options
0.3 2.4 1.7 
Withholding tax payments on RSUs tendered
(2.0)(2.3)(3.7)
Net cash (used in) provided by financing activities55.6 (51.7)85.7 
Net increase (decrease) in cash113.9 0.2 (0.5)
Cash at beginning of period0.3 0.1 0.6 
Cash at end of period$114.2 $0.3 $0.1 
 












See accompanying Note to Condensed Financial Statements.
See accompanying Report of Independent Registered Public Accounting Firm.
SCHEDULE II (continued)
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.