U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER
1-9250
(Check One):
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ x ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: September 30, 2002
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
Part I--Registrant Information
Full Name of Registrant
Conseco, Inc.
Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
11825 N. Pennsylvania Street
City, State and Zip Code
Carmel, IN 46032
Part II--Rules 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[x] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof
will be filed on or before the fifteenth calendar day following
the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q, or portion thereof will be filed
on or before the fifth calendar day following the prescribed due
date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Part III--Narrative
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period. (Attach Extra Sheets if
Needed)
See attached Exhibit A.
-2-
Part IV--Other Information
(1) Name and telephone number of person to contact in regard to this
notification
John R. Kline (317) 817-6100
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or
15(d) of the Securities Exchange Act of 1934 or section 30 of the
Investment Company Act of 1940 during the preceding 12 months or
for such shorter period that the registrant was required to file
such report(s) been filed? If the answer is no, identify
report(s).
[ x ] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in
the subject report or portion thereof?
[ x ] Yes [ ] No
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
See attached Exhibit B.
CONSECO, INC.
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(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 15, 2002 By: /s/ John R. Kline
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John R. Kline, Senior Vice President and
Chief Accounting Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
CONSECO, INC.
Exhibit A to Form 12b-25
Commission File No. 1-9250
Dated November 15, 2002
The Registrant's Quarterly Report on Form 10-Q for the quarterly period
ended September 30, 2002 cannot be completed within the prescribed time period
because the Registrant is experiencing a delay in finalizing the financial
statements to be included in such Form 10-Q. In connection therewith, the
Registrant is continuing to review the value of the retained interests in
securitization trusts (including interest-only securities) of its wholly owned
subsidiary, Conseco Finance Corp., and expects to record a noncash charge,
estimated at approximately $700 million, to write down the carrying value of
those securities. In addition, the Registrant is continuing to review the value
of its goodwill, and expects to record a noncash charge, estimated at $500
million, to write down the value of goodwill. The actual amounts will be
determined when the valuation procedures are completed. The Registrant's
Quarterly Report on Form 10-Q will be filed as soon as practicable thereafter.
CONSECO, INC.
Exhibit B to Form 12b-25
Commission File No. 1-9250
Dated August 15, 2002
The Registrant anticipates that its Form 10-Q will reflect significant
changes in the results of operations for the period ended September 30, 2002
compared to the period ended September 30, 2001. Net loss applicable to common
stock for the third quarter of 2001 was $410.6 million. The net loss applicable
to common stock for the third quarter of 2002 is expected to be approximately
$1.8 billion. The actual loss will be determined when the procedures to value
the retained interests in securitization trusts and goodwill are completed.