EX-12.1 2 exhibit121.htm EXHIBIT 12.1 exhibit121.htm

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,
    
December 31,
  
   
2010
    
2009
  
Pretax income from operations:
            
Net income
   $ 116.4     $ 85.7  
Add income tax expense
     65.8       87.9  
                 
Pretax income from operations
     182.2       173.6  
                 
Add fixed charges:
                
Interest expense on corporate debt
     59.3       84.7  
Interest expense on investment borrowings
     25.3       33.2  
Interest added to policyholder account balances
     228.2       324.4  
Portion of rental (a)
     9.4       12.8  
                 
Fixed charges
     322.2       455.1  
                 
Adjusted earnings
   $ 504.4     $ 628.7  
                 
Ratio of earnings to fixed charges
     1.57 X     1.38 X
                 
____________________
(a)  
Interest portion of rental is estimated to be 33 percent.