EX-12.1 3 cno09302012ex121amend.htm EXHIBIT 12.1 CNO 09.30.2012 EX 12.1 (amend)


Exhibit 12.1

CNO FINANCIAL GROUP, INC. AND SUBSIDIARIES

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

 
Nine months ended September 30, 2012
 
Year ended December 31, 2011
Pretax income from operations:
 
 
 
Net income
$
119.8

 
$
335.7

Add income tax benefit
(81.8
)
 
(29.5
)
Pretax income from operations
38.0

 
306.2

Add fixed charges:
 
 
 
Interest expense on corporate debt
50.4

 
76.3

Interest expense on investment borrowings and borrowings related to variable interest entities
36.3

 
37.8

Interest added to policyholder account balances
199.2

 
282.5

Portion of rental (a)
10.5

 
13.1

Fixed charges
296.4

 
409.7

Adjusted earnings
$
334.4

 
$
715.9

Ratio of earnings to fixed charges
1.13X

 
1.75X

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