CNO FY 2013 Earnings Report — CNO Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

CNO Financial Group, Inc.CNO

FY 2013 Earnings

Reported February 24, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.5B	—	$4.3B	—	3.1%
Op. Income	$305M	—	$156M	—	95.8%
Gross Margin	27.6%	—	27.0%	—	0.6pp
Net Margin	10.7%	—	5.1%	—	5.6pp
EPS (Diluted)	$2.05	—	$0.83	—	147.0%
Free Cash Flow	$720M	—	$635M	—	13.5%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$234M
SG&A Expenses	$234M
Other Expenses	$698M
Operating Expenses	$932M
Cost & Expenses	$4.2B
OPERATING INCOME	$305M
Interest Income	$0
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$305M
Income Tax Expense	-$173M
Net Income from Continuing Ops	$478M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$478M
Net Income Deductions	-$2M
BOTTOM LINE NET INCOME	$480M
D&A	$325M
EBIT	$410M
EBITDA	$735M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$234M
SG&A Expenses	$234M
Other Expenses	$698M
Operating Expenses	$932M
Cost & Expenses	$4.2B
OPERATING INCOME	$305M
Interest Income	$0
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$305M
Income Tax Expense	-$173M
Net Income from Continuing Ops	$478M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$478M
Net Income Deductions	-$2M
BOTTOM LINE NET INCOME	$480M
D&A	$325M
EBIT	$410M
EBITDA	$735M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$478M
Depreciation & Amortization	$325M
Stock-Based Compensation	$15M
Deferred Income Tax	-$181M
Other Non-Cash Items	-$110M
Change in Working Capital	$466M
OPERATING CASH FLOW	$720M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$5.4B
Sales/Maturities of Investments	$4.8B
Other Investing Activities	-$73M
NET CASH FROM INVESTING	-$603M
Net Debt Issuance	$367M
Common Stock Repurchased	-$118M
Common Dividends Paid	-$24M
Other Financing Activities	-$241M
NET CASH FROM FINANCING	-$1M
FREE CASH FLOW	$720M
Net Change in Cash	$117M

Balance Sheet

Item	Amount
Cash & Equivalents	$104M
Short-Term Investments	$23.2B
Net Receivables	$0
Inventory	$595M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$699M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$1.6B
Long-Term Investments	$24.7B
Tax Assets	$0
Other Non-Current Assets	-$19.7B
TOTAL NON-CURRENT ASSETS	$6.6B
TOTAL ASSETS	$34.8B
Account Payables	$590M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$25.5B
TOTAL CURRENT LIABILITIES	$26.1B
Long-Term Debt	$3.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$25.6B
TOTAL NON-CURRENT LIABILITIES	$3.8B
TOTAL LIABILITIES	$29.8B
Common Stock	$2M
Additional Paid-In Capital	$4.1B
Retained Earnings	$128M
Treasury Stock	$0
Accum. Other Comp. Income	$732M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$0
TOTAL EQUITY	$5.0B
TOTAL LIABILITIES & EQUITY	$34.8B
Total Debt	$3.8B
Net Debt	$3.7B