CNO Financial Group, Inc. (CNO) financial statements: income statement, balance sheet and cash flow
CNO Financial Group, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), CNO Financial Group, Inc. reported revenue of $4.5B (+0.9% year on year) and net income of $229.3M (-43.2% year on year).
Income statement
CNO Financial Group, Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Insurance policy income
$2.6B
$2.6B
$2.5B
$2.5B
General account assets
$1.5B
$1.4B
$1.3B
$1.2B
Policyholder and other special-purpose portfolios
$181.0M
$329.4M
$249.5M
($163.1M)
Realized investment losses
($59.6M)
($75.6M)
($69.3M)
($17.9M)
Other investment gains
$4.9M
$25.7M
$300.0K
($117.5M)
Total investment losses
($54.7M)
($49.9M)
($69.0M)
($135.4M)
Fee revenue and other income
$196.1M
$192.1M
$210.6M
$196.5M
Total revenues
$4.5B
$4.4B
$4.1B
$3.6B
Insurance policy benefits
$2.5B
$2.5B
$2.3B
$1.7B
Liability for future policy benefits remeasurement loss
($70.7M)
($41.1M)
($21.2M)
—
Change in fair value of market risk benefits
($12.4M)
($60.5M)
($21.3M)
—
Interest expense
$230.9M
$254.4M
$238.6M
$137.0M
Amortization of deferred acquisition costs and present value of future profits
$278.0M
$251.2M
$227.4M
$309.6M
Goodwill and other asset impairment
$101.9M
—
—
—
Gain on extinguishment of borrowings related to variable interest entities
($1.5M)
—
—
—
Other operating costs and expenses
$1.1B
$1.1B
$1.0B
$954.6M
Total benefits and expenses
$4.2B
$3.9B
$3.8B
$3.1B
Income before income taxes
$293.4M
$518.3M
$356.8M
$517.3M
Income tax expense
$64.1M
$114.3M
$80.3M
$120.5M
Net income
$229.3M
$404.0M
$276.5M
$396.8M
Weighted average shares outstanding (in shares)
97.8M
106.1M
113.3M
115.7M
Net income (in USD per share)
$2.35
$3.81
$2.44
$3.43
Weighted average shares outstanding (in shares)
99.8M
108.1M
115.1M
117.7M
Net income (in USD per share)
$2.30
$3.74
$2.40
$3.37
CNO Financial Group, Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Insurance policy income
$680.7M
$673.4M
$658.4M
$651.3M
General account assets
$411.9M
$395.0M
$382.9M
$378.3M
Policyholder and other special-purpose portfolios
$185.1M
($64.9M)
$116.8M
$105.4M
Realized investment losses
($8.6M)
($7.8M)
($12.9M)
($21.3M)
Other investment gains (losses)
($6.1M)
($14.9M)
$9.9M
$2.9M
Total investment losses
($14.7M)
($22.7M)
($3.0M)
($18.4M)
Fee revenue and other income
$22.2M
$48.8M
$33.6M
$34.9M
Total revenues
$1.3B
$1.0B
$1.2B
$1.2B
Insurance policy benefits
$742.5M
$576.6M
$702.1M
$658.4M
Liability for future policy benefits remeasurement gain
($15.3M)
($6.5M)
($30.8M)
($12.8M)
Change in fair value of market risk benefits
($8.3M)
$10.7M
($12.4M)
($10.9M)
Interest expense
$55.3M
$50.9M
$56.6M
$59.1M
Amortization of deferred acquisition costs and present value of future profits
$74.9M
$74.2M
$69.9M
$68.6M
Gain on extinguishment of borrowings related to variable interest entities
$0
$0
$0
$0
Other operating costs and expenses
$276.4M
$275.3M
$270.4M
$271.1M
Total benefits and expenses
$1.1B
$981.2M
$1.2B
$1.0B
Income before income taxes
$159.7M
$48.4M
$36.2M
$118.0M
Income tax expense
$33.8M
$10.7M
$13.1M
$26.2M
Net income
$125.9M
$37.7M
$23.1M
$91.8M
Weighted average shares outstanding (in shares)
93.2M
94.1M
96.6M
98.6M
Net income (in dollars per share)
$1.35
$0.40
$0.24
$0.93
Weighted average shares outstanding (in shares)
95.0M
96.1M
98.6M
100.4M
Net income (in dollars per share)
$1.33
$0.39
$0.24
$0.91
Balance sheet
CNO Financial Group, Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Fixed maturities, available for sale, at fair value (net of allowance for credit losses: 2025 - $36.0 and 2024 - $37.1; amortized cost: 2025 - $25,776.4 and 2024 - $25,151.0)
$23.9B
$22.8B
$21.5B
$20.4B
Equity securities at fair value
$389.2M
$162.0M
$96.9M
$135.3M
Mortgage loans (net of allowance for credit losses: 2025 - $20.9 and 2024 - $13.6)
$3.3B
$2.5B
$2.1B
$1.4B
Policy loans
$140.9M
$135.3M
$128.5M
$121.6M
Trading securities
$294.8M
$304.2M
$222.7M
$207.9M
Investments held by variable interest entities (net of allowance for credit losses: 2025 - $0.6 and 2024 - $1.3; amortized cost: 2025 - $294.1 and 2024 - $437.0)
$293.0M
$432.3M
$768.6M
$1.1B
Other invested assets
$1.7B
$1.5B
$1.4B
$1.0B
Total investments
$30.0B
$27.9B
$26.1B
$24.3B
Cash and cash equivalents - unrestricted
$956.1M
$1.7B
$774.5M
$575.7M
Cash and cash equivalents held by variable interest entities
$27.4M
$341.0M
$114.5M
$69.2M
Accrued investment income
$286.0M
$286.4M
$251.5M
$235.6M
Present value of future profits
$143.6M
$161.0M
$180.7M
$212.2M
Deferred acquisition costs
$2.4B
$2.2B
$1.9B
$1.9B
Reinsurance receivables (net of allowance for credit losses: 2025 - $1.0 and 2024 - $3.0)
$3.7B
$3.9B
$4.0B
$4.2B
Income tax assets, net
$713.3M
$818.9M
$936.2M
$1.2B
Assets held in separate accounts
$2.8M
$3.3M
$3.1M
$2.7M
Other assets
$588.1M
$699.9M
$641.1M
$580.8M
Total assets
$38.8B
$37.9B
$35.1B
$33.3B
Policyholder account balances
$18.9B
$17.6B
$15.7B
$14.9B
Future policy benefits
$11.9B
$11.7B
$11.9B
$11.8B
Market risk benefit liability
$48.1M
$60.0M
$7.4M
—
Liability for life insurance policy claims
$58.4M
$61.1M
$62.1M
$456.5M
Unearned and advanced premiums
$228.0M
$226.8M
$218.9M
$235.0M
Liabilities related to separate accounts
$2.8M
$3.3M
$3.1M
$2.7M
Other liabilities
$952.8M
$1.2B
$848.8M
$693.9M
Investment borrowings
$2.4B
$2.2B
$2.2B
$1.6B
Borrowings related to variable interest entities
$274.4M
$497.6M
$820.8M
$1.1B
Notes payable – direct corporate obligations
$1.3B
$1.8B
$1.1B
$1.1B
Total liabilities
$36.2B
$35.4B
$32.9B
$31.9B
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2025 - 94,484,339 and 2024 - 101,618,957)
900.0K
1.0M
1.1M
1.1M
Additional paid-in capital
$1.3B
$1.6B
$1.9B
$2.0B
Accumulated other comprehensive loss
($1.1B)
($1.4B)
($1.6B)
($2.1B)
Retained earnings
$2.4B
$2.2B
$1.9B
$1.5B
Total shareholders' equity
$2.6B
$2.5B
$2.2B
$1.4B
Total liabilities and shareholders' equity
$38.8B
$37.9B
$35.1B
$33.3B
CNO Financial Group, Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed maturities, available for sale, at fair value (net of allowance for credit losses: June 30, 2026 - $41.5 and December 31, 2025 - $36.0; amortized cost: June 30, 2026 - $26,580.2 and December 31, 2025 - $25,776.4)
$24.5B
$23.9B
$23.4B
$23.0B
Equity securities at fair value
$337.2M
$332.8M
$377.2M
$387.4M
Mortgage loans (net of allowance for credit losses: June 30, 2026 - $17.0 and December 31, 2025 - $20.9)
$3.4B
$3.3B
$3.0B
$2.8B
Policy loans
$144.2M
$141.8M
$141.2M
$137.6M
Trading securities
$258.6M
$280.2M
$296.9M
$308.3M
Investments held by variable interest entities (net of allowance for credit losses: June 30, 2026 - $1.6 and December 31, 2025 - $0.6; amortized cost: June 30, 2026 - $296.2 and December 31, 2025 - $294.1)
$292.3M
$287.4M
$296.8M
$376.9M
Other invested assets
$1.9B
$1.7B
$1.6B
$1.5B
Total investments
$30.7B
$30.0B
$29.2B
$28.6B
Cash and cash equivalents - unrestricted
$1.3B
$1.1B
$1.2B
$766.0M
Cash and cash equivalents held by variable interest entities
$16.3M
$24.8M
$23.3M
$50.0M
Accrued investment income
$302.5M
$284.2M
$282.0M
$279.4M
Present value of future profits
$135.5M
$139.5M
$147.8M
$152.1M
Deferred acquisition costs and sales inducements
$2.5B
$2.4B
$2.3B
$2.3B
Reinsurance receivables (net of allowance for credit losses: June 30, 2026 - $1.0 and December 31, 2025 - $1.0)
$3.6B
$3.6B
$3.7B
$3.8B
Income tax assets, net
$709.7M
$748.9M
$708.1M
$749.3M
Assets held in separate accounts
$3.0M
$2.7M
$2.7M
$2.9M
Other assets
$585.0M
$615.2M
$661.5M
$707.2M
Total assets
$39.9B
$39.0B
$38.3B
$37.3B
Policyholder account balances
$19.6B
$19.0B
$18.3B
$17.6B
Future policy benefits
$11.8B
$11.7B
$12.0B
$11.8B
Market risk benefit liability
$50.6M
$58.1M
$52.6M
$63.8M
Liability for life insurance policy claims
$61.8M
$58.8M
$61.5M
$60.7M
Unearned and advanced premiums
$219.0M
$225.2M
$214.5M
$217.3M
Liabilities related to separate accounts
$3.0M
$2.7M
$2.7M
$2.9M
Other liabilities
$957.1M
$1.1B
$1.0B
$935.8M
Investment borrowings
$2.9B
$2.7B
$2.4B
$2.4B
Borrowings related to variable interest entities
$274.5M
$274.4M
$274.3M
$352.8M
Notes payable – direct corporate obligations
$1.3B
$1.3B
$1.3B
$1.3B
Total liabilities
$37.3B
$36.5B
$35.7B
$34.8B
Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: June 30, 2026 – 92,696,990; December 31, 2025 – 94,484,339)
900.0K
900.0K
1.0M
1.0M
Additional paid-in capital
$1.2B
$1.3B
$1.4B
$1.4B
Accumulated other comprehensive loss
($1.2B)
($1.2B)
($1.1B)
($1.3B)
Retained earnings
$2.5B
$2.4B
$2.3B
$2.3B
Total shareholders' equity
$2.6B
$2.5B
$2.6B
$2.5B
Total liabilities and shareholders' equity
$39.9B
$39.0B
$38.3B
$37.3B
Cash flow statement
CNO Financial Group, Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Insurance policy income
$2.4B
$2.3B
$2.3B
$2.3B
Net investment income
$1.5B
$1.4B
$1.3B
$1.2B
Fee revenue and other income
$179.6M
$168.7M
$205.3M
$149.2M
Insurance policy benefits
($1.6B)
($1.6B)
($1.6B)
($1.6B)
Interest expense
($230.3M)
($259.2M)
($232.5M)
($120.9M)
Deferrable policy acquisition costs
($499.3M)
($445.7M)
($377.9M)
($332.2M)
Other operating costs
($1.0B)
($939.8M)
($955.9M)
($985.7M)
Income taxes
($37.7M)
($55.1M)
($59.1M)
($33.9M)
Net cash provided by operating activities
$675.7M
$627.7M
$582.9M
$495.4M
Sales of investments
$3.3B
$3.2B
$1.4B
$3.3B
Maturities and redemptions of investments
$3.5B
$2.2B
$1.4B
$1.6B
Purchases of investments
($8.5B)
($6.8B)
($3.6B)
($6.5B)
Net purchases of trading securities
$0
($87.5M)
($29.4M)
($42.4M)
Other, net
($3.2M)
($13.5M)
($36.6M)
($61.2M)
Net cash used by investing activities
($1.7B)
($1.5B)
($872.3M)
($1.8B)
Issuance of notes payable, net
$0
$691.0M
—
$0
Payments on notes payable
($500.0M)
—
—
—
Issuance of common stock
$11.6M
$11.2M
$13.2M
$13.5M
Payments to repurchase common stock
($331.4M)
($300.2M)
($166.1M)
($190.1M)
Common stock dividends paid
($66.2M)
($67.7M)
($68.1M)
($64.8M)
Amounts received for deposit products
$3.2B
$3.9B
$2.1B
$3.0B
Withdrawals from deposit products
($2.4B)
($2.0B)
($1.7B)
($1.5B)
Proceeds from financing arrangements
$0
$0
$80.3M
—
Payments on financing arrangements
($15.4M)
($14.4M)
($6.2M)
—
Federal Home Loan Bank
$776.8M
$612.2M
$995.5M
$285.0M
Related to variable interest entities
$0
$276.0M
—
—
Federal Home Loan Bank
($523.8M)
($612.7M)
($445.8M)
($361.3M)
Related to variable interest entities and other
($222.6M)
($596.5M)
($284.8M)
($44.4M)
Net cash (used) provided by financing activities
($22.6M)
$2.0B
$533.5M
$1.2B
Net (decrease) increase in cash and cash equivalents
($1.0B)
$1.1B
$244.1M
($86.8M)
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of year
$2.0B
$889.0M
$644.9M
$731.7M
Cash and cash equivalents - unrestricted and held by variable interest entities, end of year
$983.5M
$2.0B
$889.0M
$644.9M
CNO Financial Group, Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Insurance policy income
$1.2B
$613.3M
$1.8B
$1.2B
Net investment income
$772.6M
$387.8M
$1.1B
$748.2M
Fee revenue and other income
$96.1M
$60.9M
$134.6M
$98.5M
Insurance policy benefits
($832.3M)
($414.4M)
($1.2B)
($822.9M)
Interest expense
($104.3M)
($32.4M)
($159.3M)
($114.4M)
Deferrable policy acquisition costs and sales inducements
($251.8M)
($114.1M)
($377.8M)
($244.8M)
Other operating costs
($583.5M)
($336.4M)
($780.6M)
($564.5M)
Income taxes
($21.0M)
($15.9M)
($9.5M)
($300.0K)
Net cash provided by operating activities
$305.4M
$148.8M
$480.0M
$282.2M
Sales of investments
$6.5B
$3.9B
$2.3B
$1.7B
Maturities and redemptions of investments
$1.8B
$758.7M
$2.2B
$1.3B
Purchases of investments
($9.1B)
($4.8B)
($5.3B)
($3.6B)
Other, net
($10.0M)
($4.6M)
$900.0K
($9.2M)
Net cash used by investing activities
($787.8M)
($184.1M)
($766.5M)
($660.4M)
Payments on notes payable
$0
—
($500.0M)
($500.0M)
Issuance of common stock
$6.6M
$5.6M
$9.6M
$7.1M
Payments to repurchase common stock
($134.2M)
($73.3M)
($271.2M)
($210.6M)
Common stock dividends paid
($33.8M)
($17.1M)
($50.0M)
($33.6M)
Payments on financing arrangements
($8.1M)
($4.0M)
($11.4M)
($7.6M)
Amounts received for deposit products
$1.5B
$560.7M
$2.2B
$1.2B
Withdrawals from deposit products
($1.1B)
($515.8M)
($1.9B)
($1.4B)
Federal Home Loan Bank
$776.8M
$450.0M
$776.8M
$526.8M
Federal Home Loan Bank
($276.8M)
($200.0M)
($523.7M)
($273.8M)
Related to variable interest entities
$0
$0
($222.6M)
($143.8M)
Net cash provided (used) by financing activities
$804.9M
$206.1M
($469.6M)
($803.5M)
Net increase (decrease) in cash and cash equivalents
$322.5M
$170.8M
($756.1M)
($1.2B)
Cash and cash equivalents - unrestricted and including held by variable interest entities, beginning of period
$983.5M
$983.5M
$2.0B
$2.0B
Cash and cash equivalents - unrestricted and including held by variable interest entities, end of period