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Schedule II Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021
($ in millions, except share data)
 
December 31,
20222021
ASSETS
Investments and cash$2.1 $115.3 
Investments in subsidiaries1,587.0 2,191.3 
Other assets7.1 11.3 
Total assets$1,596.2 $2,317.9 
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt$249.0 $249.0 
Long-term debt249.0 248.6 
Other liabilities10.0 12.9 
Total liabilities508.0 510.5 
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, 2022, 66,618,465; 2021, 75,000,000
0.1 0.1 
Additional paid-in capital502.6 495.3 
Retained earnings1,468.6 1,524.9 
Accumulated other comprehensive income (loss), net of taxes:  
Net unrealized investment gains (losses) on fixed maturity securities(356.9)290.7 
Net funded status of benefit plans
(8.8)(10.2)
Treasury stock, at cost, 2022, 25,714,153 shares;
2021, 24,043,337 shares
(517.4)(493.4)
Total shareholders' equity1,088.2 1,807.4 
Total liabilities and shareholders' equity$1,596.2 $2,317.9 
 












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,
 202220212020
Revenues   
Net investment income
$— $(0.1)$(0.2)
Total revenues
— (0.1)(0.2)
Expenses
Interest expense
19.4 13.8 14.8 
Other
8.5 11.2 5.7 
Total expenses
27.9 25.0 20.5 
Loss before income tax benefit and equity in net earnings of subsidiaries(27.9)(25.1)(20.7)
Income tax benefit(6.3)(5.4)(5.3)
Loss before equity in net earnings of subsidiaries(21.6)(19.7)(15.4)
Equity in net earnings (losses) of subsidiaries19.0 162.5 148.7 
Net income (loss)$(2.6)$142.8 $133.3 
 


























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,
 202220212020
Cash flows from operating activities   
Net income (loss)$(2.6)$142.8 $133.3 
Equity in net income of subsidiaries
(19.0)(162.5)(148.7)
Dividends received from subsidiaries
184.3 66.0 167.0 
Changes in:
Income taxes
3.9 1.8 2.0 
Operating assets and liabilities
0.8 8.4 (5.9)
Other
(2.2)4.1 1.7 
Net cash provided by operating activities
165.2 60.6 149.4 
Cash flows from investing activities
Purchase of equity securities— — 1.0 
Net increase (decrease) in short-term investments
(0.7)2.7 (1.5)
Capital contributions to subsidiaries(35.0)(5.0)(97.0)
Acquisition of business, net of cash acquired(164.4)— — 
Net cash used in investing activities(200.1)(2.3)(97.5)
Cash flows from financing activities
Dividends paid to shareholders
(52.6)(51.4)(49.6)
Principal borrowings on Revolving Credit Facility— 114.0 — 
Acquisition of treasury stock
(24.0)(5.3)(2.2)
Proceeds from exercise of stock options
— 0.3 2.4 
Withholding tax payments on RSUs tendered
(2.4)(2.0)(2.3)
Net cash provided by (used in)_ financing activities(79.0)55.6 (51.7)
Net increase (decrease) in cash(113.9)113.9 0.2 
Cash at beginning of period114.2 0.3 0.1 
Cash at end of period$0.3 $114.2 $0.3 
 












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 accompanying notes thereto presented in Part II - Item 8 of this Annual Report on Form 10-K.