EX-12.1 2 cno06302012ex121.htm EXHIBIT 12.1 CNO 06.30.2012 EX 12.1


Exhibit 12.1

CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

 
Six months ended June 30, 2012
 
Year ended December 31, 2011
Pretax income from operations:
 
 
 
Net income
$
124.8

 
$
335.7

Add income tax expense (benefit)
72.0

 
(29.5
)
Pretax income from operations
196.8

 
306.2

Add fixed charges:
 
 
 
Interest expense on corporate debt
34.1

 
76.3

Interest expense on investment borrowings and borrowings related to variable interest entities
23.4

 
37.8

Interest added to policyholder account balances
132.8

 
282.5

Portion of rental (a)
6.6

 
13.1

Fixed charges
196.9

 
409.7

Adjusted earnings
$
393.7

 
$
715.9

Ratio of earnings to fixed charges
2.00X

 
1.75X

____________________
(a)
Interest portion of rental is estimated to be 33 percent.