Exhibit 12.1
CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
|
| | | | | | | |
| | Six months | | |
| | ended | | Year ended |
| | June 30, | | December 31, |
| | 2018 | | 2017 |
| Pretax income from operations: | | | |
| Net income | $ | 186.5 |
| | $ | 175.6 |
|
| Add income tax expense | 51.4 |
| | 304.9 |
|
| Pretax income from operations | 237.9 |
| | 480.5 |
|
| Add fixed charges: | | | |
| Interest expense on corporate debt | 23.8 |
| | 46.5 |
|
| Interest expense on investment borrowings and borrowings related to variable interest entities | 47.5 |
| | 77.2 |
|
| Interest added to policyholder account balances | 49.1 |
| | 105.2 |
|
| Portion of rental (a) | 9.0 |
| | 18.7 |
|
| Fixed charges | 129.4 |
| | 247.6 |
|
| Adjusted earnings | $ | 367.3 |
| | $ | 728.1 |
|
| Ratio of earnings to fixed charges | 2.84X |
| | 2.94X |
|
____________________
| |
| (a) | Interest portion of rental is estimated to be 33 percent. |
