Exhibit 12.1
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
|
| | | | | | | |
| | Nine months | | |
| | ended | | Year ended |
| | September 30,
2014 | | December 31,
2013 |
| Pretax income (loss) from operations: | | | |
| Net income (loss) | $ | (32.5 | ) | | $ | 478.0 |
|
| Add income tax expense (benefit) | 131.7 |
| | (173.2 | ) |
| Pretax income (loss) from operations | 99.2 |
| | 304.8 |
|
| Add fixed charges: | | | |
| Interest expense on corporate debt | 33.1 |
| | 51.3 |
|
| Interest expense on investment borrowings and borrowings related to variable interest entities | 37.7 |
| | 54.0 |
|
| Interest added to policyholder account balances | 140.5 |
| | 232.5 |
|
| Portion of rental (a) | 10.8 |
| | 13.3 |
|
| Fixed charges | 222.1 |
| | 351.1 |
|
| Adjusted earnings | $ | 321.3 |
| | $ | 655.9 |
|
| Ratio of earnings to fixed charges | 1.45X |
| | 1.87X |
|
____________________
| |
| (a) | Interest portion of rental is estimated to be 33 percent. |
