2024 Q2 Form 10-Q Financial Statement

#000122460824000041 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.066B $1.167B
YoY Change 2.07% 14.3%
Cost Of Revenue $568.8M $631.4M
YoY Change 0.51% 3.56%
Gross Profit $497.4M $535.1M
YoY Change 3.91% 30.23%
Gross Profit Margin 46.65% 45.87%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.40M
YoY Change 7.15%
% of Gross Profit 13.16%
Operating Expenses $851.6M $963.8M
YoY Change -3.96% 2.81%
Operating Profit $148.6M $74.80M
YoY Change 83.0% -2.09%
Interest Expense $64.20M -$46.50M
YoY Change -260.5% -33.09%
% of Operating Profit 43.2% -62.17%
Other Income/Expense, Net
YoY Change
Pretax Income $150.6M $146.2M
YoY Change 56.71% -14720.0%
Income Tax $34.30M $33.90M
% Of Pretax Income 22.78% 23.19%
Net Earnings $116.3M $112.3M
YoY Change 57.8% -14137.5%
Net Earnings / Revenue 10.91% 9.63%
Basic Earnings Per Share $1.08 $1.03
Diluted Earnings Per Share $1.06 $1.01
COMMON SHARES
Basic Shares Outstanding 108.3M shares 109.0M shares
Diluted Shares Outstanding 109.3M shares 110.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $992.1M $649.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $27.31B $26.30B
YoY Change 7.75% 3.79%
Other Assets $882.8M $886.1M
YoY Change -12.34% -10.32%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $36.29B $34.94B
YoY Change 6.57% 2.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $4.523B $3.896B
YoY Change 13.63% -3.67%
Other Long-Term Liabilities $937.6M $908.8M
YoY Change 4.31% 30.03%
Total Long-Term Liabilities $5.460B $4.804B
YoY Change 11.91% 1.29%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $5.460B $4.804B
Total Liabilities $33.86B $32.57B
YoY Change 5.62% 1.84%
SHAREHOLDERS EQUITY
Retained Earnings $2.095B $1.996B
YoY Change 21.05% 19.22%
Common Stock $1.799B $1.852B
YoY Change -10.02% -8.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.429B $2.368B
YoY Change
Total Liabilities & Shareholders Equity $36.29B $34.94B
YoY Change 6.57% 2.72%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $116.3M $112.3M
YoY Change 57.8% -14137.5%
Depreciation, Depletion And Amortization $70.40M
YoY Change 7.15%
Cash From Operating Activities $110.9M $94.60M
YoY Change -21.63% 15.51%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.146B $2.500M
YoY Change 689.19% -82.01%
Cash From Investing Activities -$1.146B -$23.60M
YoY Change 689.19% -94.2%
FINANCING ACTIVITIES
Cash Dividend Paid $17.30M
YoY Change 1.17%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.377B -$310.2M
YoY Change 3066.21% -253.56%
NET CHANGE
Cash From Operating Activities 110.9M $94.60M
Cash From Investing Activities -1.146B -$23.60M
Cash From Financing Activities 1.377B -$310.2M
Net Change In Cash 342.3M -$239.2M
YoY Change 760.05% 94.79%
FREE CASH FLOW
Cash From Operating Activities $110.9M $94.60M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1389500000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
42900000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
2200000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-6000000.0 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
100000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
39000000.0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
56000000.0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
3000000.0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
800000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
700000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
59100000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
15400000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8000000.0 usd
CY2024Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1200000 usd
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-400000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16600000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8400000 usd
CY2024Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-10000000.0 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-14600000 usd
CY2024Q1 cno Debt Securities Available For Sale And Other Investments Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAndOtherInvestmentsAllowanceForCreditLossPeriodIncreaseDecrease
-1500000 usd
CY2023Q1 cno Debt Securities Available For Sale And Other Investments Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAndOtherInvestmentsAllowanceForCreditLossPeriodIncreaseDecrease
1500000 usd
CY2024Q1 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
900000 usd
CY2023Q1 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
400000 usd
CY2024Q1 cno Increase Decrease In Fair Value Of Other Securities
IncreaseDecreaseInFairValueOfOtherSecurities
11600000 usd
CY2023Q1 cno Increase Decrease In Fair Value Of Other Securities
IncreaseDecreaseInFairValueOfOtherSecurities
1100000 usd
CY2024Q1 cno Variable Interest Entity Gain Losson Dissolution
VariableInterestEntityGainLossonDissolution
3800000 usd
CY2023Q1 cno Variable Interest Entity Gain Losson Dissolution
VariableInterestEntityGainLossonDissolution
0 usd
CY2024Q1 cno Other Investments Gain Loss
OtherInvestmentsGainLoss
17800000 usd
CY2023Q1 cno Other Investments Gain Loss
OtherInvestmentsGainLoss
0 usd
CY2024Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
7800000 usd
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-14600000 usd
CY2024Q1 cno Variable Interest Entities Change In Allowance For Current Expected Credit Losses
VariableInterestEntitiesChangeInAllowanceForCurrentExpectedCreditLosses
1200000 usd
CY2023Q1 cno Variable Interest Entities Change In Allowance For Current Expected Credit Losses
VariableInterestEntitiesChangeInAllowanceForCurrentExpectedCreditLosses
-2000000 usd
CY2024Q1 cno Increase Decrease In Equity Securities Fvni Held At End Of Period
IncreaseDecreaseInEquitySecuritiesFVNIHeldAtEndOfPeriod
1000000 usd
CY2023Q1 cno Increase Decrease In Equity Securities Fvni Held At End Of Period
IncreaseDecreaseInEquitySecuritiesFVNIHeldAtEndOfPeriod
300000 usd
CY2024Q1 us-gaap Increase Decrease In Debt Securities Trading
IncreaseDecreaseInDebtSecuritiesTrading
4800000 usd
CY2023Q1 us-gaap Increase Decrease In Debt Securities Trading
IncreaseDecreaseInDebtSecuritiesTrading
-2500000 usd
CY2024Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
7800000 usd
CY2024Q1 cno Variable Interest Entity Gain Losson Dissolution
VariableInterestEntityGainLossonDissolution
3800000 usd
CY2024Q1 cno Debt Securities Available For Sale And Other Investments Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAndOtherInvestmentsAllowanceForCreditLossPeriodIncreaseDecrease
-1500000 usd
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-14600000 usd
CY2023Q1 cno Debt Securities Available For Sale And Other Investments Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAndOtherInvestmentsAllowanceForCreditLossPeriodIncreaseDecrease
1500000 usd
CY2024Q1 cno Numberof Investmentsin Defaultor Considered Nonperforming
NumberofInvestmentsinDefaultorConsideredNonperforming
0 investment
CY2024Q1 cno Available For Sale Securities Value Of Securities Sold
AvailableForSaleSecuritiesValueOfSecuritiesSold
197100000 usd
CY2023Q1 cno Available For Sale Securities Value Of Securities Sold
AvailableForSaleSecuritiesValueOfSecuritiesSold
288500000 usd
CY2024Q1 cno Liability For Future Policy Benefit Before Reinsurance Reserve
LiabilityForFuturePolicyBenefitBeforeReinsuranceReserve
2488100000 usd
CY2023Q1 cno Liability For Future Policy Benefit Before Reinsurance Reserve
LiabilityForFuturePolicyBenefitBeforeReinsuranceReserve
2593300000 usd
CY2024Q1 cno Liability For Future Policy Benefit Deferred Profit Liability
LiabilityForFuturePolicyBenefitDeferredProfitLiability
64700000 usd
CY2023Q1 cno Liability For Future Policy Benefit Deferred Profit Liability
LiabilityForFuturePolicyBenefitDeferredProfitLiability
57700000 usd
CY2024Q1 cno Liability For Future Policy Benefit Fas Reserves Excluding Policyholder
LiabilityForFuturePolicyBenefitFASReservesExcludingPolicyholder
195700000 usd
CY2023Q1 cno Liability For Future Policy Benefit Fas Reserves Excluding Policyholder
LiabilityForFuturePolicyBenefitFASReservesExcludingPolicyholder
410500000 usd
CY2024Q1 cno Liability For Future Policy Benefits Payment For Benefits Reserve
LiabilityForFuturePolicyBenefitsPaymentForBenefitsReserve
31000000.0 usd
CY2023Q1 cno Liability For Future Policy Benefits Payment For Benefits Reserve
LiabilityForFuturePolicyBenefitsPaymentForBenefitsReserve
34700000 usd
CY2024Q1 cno Policyholder Account Balance Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
PolicyholderAccountBalanceLiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpense
11736500000 usd
CY2023Q1 cno Policyholder Account Balance Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
PolicyholderAccountBalanceLiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpense
11623300000 usd
CY2023Q4 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
-68000000.0 usd
CY2022Q4 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
-54000000.0 usd
CY2023Q4 cno Market Risk Benefit Effect Of Changes In Instrument Specific Credit Risk
MarketRiskBenefitEffectOfChangesInInstrumentSpecificCreditRisk
4800000 usd
CY2022Q4 cno Market Risk Benefit Effect Of Changes In Instrument Specific Credit Risk
MarketRiskBenefitEffectOfChangesInInstrumentSpecificCreditRisk
12200000 usd
CY2023Q4 us-gaap Market Risk Benefit Before Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitBeforeReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
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CY2022Q4 us-gaap Market Risk Benefit Before Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitBeforeReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
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CY2024Q1 cno Market Risk Benefit Issuance Net
MarketRiskBenefitIssuanceNet
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CY2023Q1 cno Market Risk Benefit Issuance Net
MarketRiskBenefitIssuanceNet
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CY2024Q1 us-gaap Market Risk Benefit Interest Expense
MarketRiskBenefitInterestExpense
5100000 usd
CY2023Q1 us-gaap Market Risk Benefit Interest Expense
MarketRiskBenefitInterestExpense
5200000 usd
CY2024Q1 us-gaap Market Risk Benefit Attributed Fee Collected
MarketRiskBenefitAttributedFeeCollected
0 usd
CY2023Q1 us-gaap Market Risk Benefit Attributed Fee Collected
MarketRiskBenefitAttributedFeeCollected
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CY2024Q1 us-gaap Market Risk Benefit Benefit Payment
MarketRiskBenefitBenefitPayment
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CY2023Q1 us-gaap Market Risk Benefit Benefit Payment
MarketRiskBenefitBenefitPayment
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CY2024Q1 us-gaap Market Risk Benefit Increase Decrease From Interest Rate Change
MarketRiskBenefitIncreaseDecreaseFromInterestRateChange
-13700000 usd
CY2023Q1 us-gaap Market Risk Benefit Increase Decrease From Interest Rate Change
MarketRiskBenefitIncreaseDecreaseFromInterestRateChange
12300000 usd
CY2024Q1 us-gaap Market Risk Benefit Increase Decrease From Equity Market Change
MarketRiskBenefitIncreaseDecreaseFromEquityMarketChange
-5000000.0 usd
CY2023Q1 us-gaap Market Risk Benefit Increase Decrease From Equity Market Change
MarketRiskBenefitIncreaseDecreaseFromEquityMarketChange
5300000 usd
CY2024Q1 us-gaap Market Risk Benefit Increase Decrease From Volatility
MarketRiskBenefitIncreaseDecreaseFromVolatility
-1200000 usd
CY2023Q1 us-gaap Market Risk Benefit Increase Decrease From Volatility
MarketRiskBenefitIncreaseDecreaseFromVolatility
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CY2024Q1 us-gaap Market Risk Benefit Increase Decrease From Actual Policyholder Behavior Different From Expected
MarketRiskBenefitIncreaseDecreaseFromActualPolicyholderBehaviorDifferentFromExpected
1900000 usd
CY2023Q1 us-gaap Market Risk Benefit Increase Decrease From Actual Policyholder Behavior Different From Expected
MarketRiskBenefitIncreaseDecreaseFromActualPolicyholderBehaviorDifferentFromExpected
600000 usd
CY2024Q1 cno Market Risk Benefit Increase Decrease From Future Expected Policyholder Behavior Assumption Other
MarketRiskBenefitIncreaseDecreaseFromFutureExpectedPolicyholderBehaviorAssumptionOther
0 usd
CY2023Q1 cno Market Risk Benefit Increase Decrease From Future Expected Policyholder Behavior Assumption Other
MarketRiskBenefitIncreaseDecreaseFromFutureExpectedPolicyholderBehaviorAssumptionOther
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CY2024Q1 cno Market Risk Benefit Increase Decrease From Future Expected Policyholder Behavior Assumption Risk Margin
MarketRiskBenefitIncreaseDecreaseFromFutureExpectedPolicyholderBehaviorAssumptionRiskMargin
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CY2023Q1 cno Market Risk Benefit Increase Decrease From Future Expected Policyholder Behavior Assumption Risk Margin
MarketRiskBenefitIncreaseDecreaseFromFutureExpectedPolicyholderBehaviorAssumptionRiskMargin
0 usd
CY2024Q1 us-gaap Market Risk Benefit Increase Decrease From Other Assumption
MarketRiskBenefitIncreaseDecreaseFromOtherAssumption
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CY2023Q1 us-gaap Market Risk Benefit Increase Decrease From Other Assumption
MarketRiskBenefitIncreaseDecreaseFromOtherAssumption
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CY2024Q1 us-gaap Market Risk Benefit Before Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitBeforeReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
-77000000.0 usd
CY2023Q1 us-gaap Market Risk Benefit Before Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitBeforeReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
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CY2024Q1 cno Market Risk Benefit Effect Of Changes In Instrument Specific Credit Risk
MarketRiskBenefitEffectOfChangesInInstrumentSpecificCreditRisk
3300000 usd
CY2023Q1 cno Market Risk Benefit Effect Of Changes In Instrument Specific Credit Risk
MarketRiskBenefitEffectOfChangesInInstrumentSpecificCreditRisk
13100000 usd
CY2024Q1 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
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CY2023Q1 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
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CY2024Q1 us-gaap Market Risk Benefit Reinsurance Recoverable After Allowance
MarketRiskBenefitReinsuranceRecoverableAfterAllowance
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CY2023Q1 us-gaap Market Risk Benefit Reinsurance Recoverable After Allowance
MarketRiskBenefitReinsuranceRecoverableAfterAllowance
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CY2024Q1 us-gaap Market Risk Benefit After Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitAfterReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
-80300000 usd
CY2023Q1 us-gaap Market Risk Benefit After Reinsurance And Cumulative Increase Decrease From Instrument Specific Credit Risk Change
MarketRiskBenefitAfterReinsuranceAndCumulativeIncreaseDecreaseFromInstrumentSpecificCreditRiskChange
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CY2024Q1 us-gaap Market Risk Benefit Asset Amount
MarketRiskBenefitAssetAmount
84100000 usd
CY2023Q1 us-gaap Market Risk Benefit Asset Amount
MarketRiskBenefitAssetAmount
57800000 usd
CY2024Q1 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
3800000 usd
CY2023Q1 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
17600000 usd
CY2024Q1 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
-80300000 usd
CY2023Q1 us-gaap Market Risk Benefit After Increase Decrease From Instrument Specific Credit Risk
MarketRiskBenefitAfterIncreaseDecreaseFromInstrumentSpecificCreditRisk
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CY2024Q1 us-gaap Market Risk Benefit Net Amount At Risk
MarketRiskBenefitNetAmountAtRisk
46200000 usd
CY2023Q1 us-gaap Market Risk Benefit Net Amount At Risk
MarketRiskBenefitNetAmountAtRisk
58900000 usd
CY2024Q1 us-gaap Net Amount At Risk By Product And Guarantee Weighted Average Attained Age1
NetAmountAtRiskByProductAndGuaranteeWeightedAverageAttainedAge1
P69Y
CY2023Q1 us-gaap Net Amount At Risk By Product And Guarantee Weighted Average Attained Age1
NetAmountAtRiskByProductAndGuaranteeWeightedAverageAttainedAge1
P68Y
CY2024Q1 us-gaap Liability For Future Policy Benefit Gross Premium Income
LiabilityForFuturePolicyBenefitGrossPremiumIncome
596900000 usd
CY2023Q1 us-gaap Liability For Future Policy Benefit Gross Premium Income
LiabilityForFuturePolicyBenefitGrossPremiumIncome
601400000 usd
CY2024Q1 us-gaap Liability For Future Policy Benefit Interest Expense
LiabilityForFuturePolicyBenefitInterestExpense
120500000 usd
CY2023Q1 us-gaap Liability For Future Policy Benefit Interest Expense
LiabilityForFuturePolicyBenefitInterestExpense
119400000 usd
CY2024Q1 cno Fixed Indexed Annuity Insurance Liabilities
FixedIndexedAnnuityInsuranceLiabilities
10028600000 usd
CY2023Q4 cno Fixed Indexed Annuity Insurance Liabilities
FixedIndexedAnnuityInsuranceLiabilities
9863700000 usd
CY2024Q1 cno Fixed Indexed Annuity Insurance Liabilities
FixedIndexedAnnuityInsuranceLiabilities
10028600000 usd
CY2023Q4 cno Fixed Indexed Annuity Insurance Liabilities
FixedIndexedAnnuityInsuranceLiabilities
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CY2024Q1 us-gaap Policyholder Funds
PolicyholderFunds
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CY2023Q1 us-gaap Policyholder Funds
PolicyholderFunds
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CY2024Q1 us-gaap Policyholder Funds
PolicyholderFunds
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CY2023Q1 us-gaap Policyholder Funds
PolicyholderFunds
15302900000 usd
CY2023Q4 cno Deferred Policy Acquisition Cost Net Of Sales Inducements
DeferredPolicyAcquisitionCostNetOfSalesInducements
1851300000 usd
CY2024Q1 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
90600000 usd
CY2024Q1 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
51800000 usd
CY2024Q1 cno Deferred Policy Acquisition Cost Net Of Sales Inducements
DeferredPolicyAcquisitionCostNetOfSalesInducements
1890100000 usd
CY2022Q4 cno Deferred Policy Acquisition Cost Net Of Sales Inducements
DeferredPolicyAcquisitionCostNetOfSalesInducements
1690400000 usd
CY2023Q1 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
84200000 usd
CY2023Q1 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
46600000 usd
CY2023Q1 cno Deferred Policy Acquisition Cost Net Of Sales Inducements
DeferredPolicyAcquisitionCostNetOfSalesInducements
1728000000 usd
CY2023Q4 us-gaap Value Of Business Acquired Voba
ValueOfBusinessAcquiredVOBA
180700000 usd
CY2024Q1 us-gaap Present Value Of Future Insurance Profits Amortization Expense1
PresentValueOfFutureInsuranceProfitsAmortizationExpense1
5200000 usd
CY2024Q1 us-gaap Value Of Business Acquired Voba
ValueOfBusinessAcquiredVOBA
175500000 usd
CY2022Q4 us-gaap Value Of Business Acquired Voba
ValueOfBusinessAcquiredVOBA
203700000 usd
CY2023Q1 us-gaap Present Value Of Future Insurance Profits Amortization Expense1
PresentValueOfFutureInsuranceProfitsAmortizationExpense1
6100000 usd
CY2023Q1 us-gaap Value Of Business Acquired Voba
ValueOfBusinessAcquiredVOBA
197600000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
112300000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
112300000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108964000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114545000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1881000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110845000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114545000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2182000 shares
CY2024Q1 cno Numberof Product Lines
NumberofProductLines
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CY2024Q1 cno Numberof Product Lines
NumberofProductLines
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CY2024Q1 cno Segment Revenues
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1136700000 usd
CY2023Q1 cno Segment Revenues
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1000500000 usd
CY2024Q1 cno Segment Expenses
SegmentExpenses
1061900000 usd
CY2023Q1 cno Segment Expenses
SegmentExpenses
924100000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
76400000 usd
CY2024Q1 cno Income Tax Benefit On Operating Income Loss
IncomeTaxBenefitOnOperatingIncomeLoss
17300000 usd
CY2023Q1 cno Income Tax Benefit On Operating Income Loss
IncomeTaxBenefitOnOperatingIncomeLoss
17800000 usd
CY2024Q1 cno Operating Income Loss Net Of Tax
OperatingIncomeLossNetOfTax
57500000 usd
CY2023Q1 cno Operating Income Loss Net Of Tax
OperatingIncomeLossNetOfTax
58600000 usd
CY2024Q1 us-gaap Revenues
Revenues
1156500000 usd
CY2023Q1 us-gaap Revenues
Revenues
1006000000 usd
CY2024Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1010300000 usd
CY2023Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1007000000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
146200000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2024Q1 cno Income Tax Expense Benefit Before Valuation Allowance Adjustment
IncomeTaxExpenseBenefitBeforeValuationAllowanceAdjustment
33900000 usd
CY2023Q1 cno Income Tax Expense Benefit Before Valuation Allowance Adjustment
IncomeTaxExpenseBenefitBeforeValuationAllowanceAdjustment
-200000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q1 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Net
EmbeddedDerivativeFairValueOfEmbeddedDerivativeNet
81000000 usd
CY2024Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
140500000 usd
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
20000000.0 usd
CY2024Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
140500000 usd
CY2023Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
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CY2024Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
46000000 usd
CY2023Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
48300000 usd
CY2024Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
105800000 usd
CY2023Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
134900000 usd
CY2024Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
4100000 usd
CY2023Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
4100000 usd
CY2024Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
5900000 usd
CY2023Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
4700000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1136400000 usd
CY2024Q1 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
35000000.0 usd
CY2024Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
17300000 usd
CY2023Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
14000000.0 usd
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16600000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33900000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.004
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.022
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.027
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
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<div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LITIGATION AND OTHER LEGAL PROCEEDINGS</span></div><div><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Legal Proceedings </span></div><div><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company and its subsidiaries are involved in various legal actions in the normal course of business, in which claims for compensatory and punitive damages are asserted, some for substantial amounts.  We recognize an estimated loss from these loss contingencies when we believe it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Some of the pending matters have been filed as purported class actions and some actions have been filed in certain jurisdictions that permit punitive damage awards that are disproportionate to the actual damages incurred.  The amounts sought in certain of these actions are often large or indeterminate and the ultimate outcome of certain actions is difficult to predict.  In the event of an adverse outcome in one or more of these matters, there is a possibility that the ultimate liability may be in excess of the liabilities we have established and could have a material adverse effect on our business, financial condition, results of operations and cash flows.  In addition, the resolution of pending or future litigation may involve modifications to the terms of outstanding insurance policies or could impact the timing and amount of rate increases, which could adversely affect the future profitability of the related insurance policies.  Based upon information presently available, and in light of legal, factual and other defenses available to the Company and its subsidiaries, the Company does not believe that it is probable that the ultimate liability from either pending or threatened legal actions, after consideration of existing loss provisions, will have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows. However, given the inherent difficulty in predicting the outcome of legal proceedings, there exists the possibility that such legal actions could have a material adverse effect on the Company's consolidated financial condition, operating results or cash flows.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the inherent difficulty of predicting litigation outcomes, particularly those that will be decided by a jury, </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">some matters purport to seek substantial or an unspecified amount of damages for unsubstantiated conduct spanning several years based on complex legal theories and damages models. The alleged damages typically are indeterminate or not factually supported in the complaint, and, in any event, the Company's experience indicates that monetary demands for damages often bear little relation to the ultimate loss. In some cases, plaintiffs are seeking to certify classes in the litigation and class certification either has been denied or is pending and we have filed oppositions to class certification or sought to decertify a prior class certification. In addition, for many of these cases: (i) there is uncertainty as to the outcome of pending appeals or motions; (ii) there are significant factual issues to be resolved; and/or (iii) there are novel legal issues presented. Accordingly, the Company cannot reasonably estimate the possible loss or range of loss in excess of amounts accrued, if any, or predict the timing of the eventual resolution of these matters.  The Company reviews these matters on an ongoing basis.  When assessing reasonably possible and probable outcomes, the Company bases its assessment on the expected ultimate outcome following all appeals.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 7, 2019, Platinum Partners Value Arbitrage Fund L.P. (in Official Liquidation) ("PPVA"), the Joint Official Liquidators of PPVA (the "JOLs") and Principal Growth Strategies, LLC, ("PGS"), commenced suit against, among others, CNO Financial Group, Inc., Bankers Conseco Life Insurance Company ("BCLIC"), Washington National and 40|86 Advisors, Inc. (collectively, the "CNO Parties") in Delaware Chancery Court.  Plaintiffs seek an unspecified amount of damages, costs, attorney's fees, and other relief as the court deems appropriate.  Plaintiffs allege that the CNO Parties were unjustly enriched when they terminated BCLIC and Washington National's reinsurance agreements with BRe and recaptured assets from reinsurance trusts, in particular, Agera securities.  Plaintiffs contend that the Agera securities were fraudulently transferred to the reinsurance trusts by other Platinum-related entities and they are seeking to claw back those Agera securities, or the value of those assets, from the CNO Parties.  The CNO Parties had removed the case to the United States District Court for the District of Delaware but on April 6, 2020, the District Court granted the plaintiff's motion to remand the case back to the Delaware Chancery Court. Plaintiffs have filed an Amended Complaint and the CNO Parties have moved to dismiss the Amended Complaint. The Delaware Chancery Court denied the CNO Parties’ motions to dismiss the Amended Complaint on the basis of forum non conveniens, but granted the CNO Parties’ motion to stay the case pending the conclusion of a related matter. On December 1, 2023, the Delaware Chancery Court lifted the stay as of November 30, 2023. On January 25, 2024, the Delaware Chancery Court granted in part and denied in part the CNO Parties’ motion to dismiss the Amended Complaint. Based on the Court’s ruling, PPVA and the JOLs’ claims against the CNO Parties were dismissed. On April 9, 2024, PGS filed a second amended complaint, which contains the same claims against the CNO Parties that PGS had previously asserted. The CNO Parties are vigorously contesting PGS's claims.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 5, 2012, plaintiffs William Jeffrey Burnett and Joe H. Camp commenced an action entitled Burnett v. Conseco Life Ins. Co. against, among others, CNO Financial Group, Inc. and CNO Services, LLC (collectively, the "CNO Entities") in the United States District Court for the Central District of California on behalf of a putative class of former interest-sensitive whole life insurance policyholders who surrendered their policies or let them lapse. Plaintiffs' first amended complaint alleges that the CNO Entities are liable under an alter ego theory for Conseco Life Insurance Company's purported breach of the optional premium payment provision (the "Optional Premium Payment") of plaintiffs' insurance policies. In January 2018, the case was transferred to the United States District Court for the Southern District of Indiana. On August 17, 2020, the Court denied the CNO Entities' motions to dismiss. On January 13, 2021, the Court granted final approval of a class action settlement between plaintiffs and co-defendant Conseco Life Insurance Company (n/k/a Wilco Life Insurance Company). The case remains pending against the CNO Entities. On March 25, 2022, the Court certified a Rule 23(b)(3) class of under 2,000 policyholders who invoked the policy's Optional Premium Payment prior to October 2008 and who surrendered their policies between October 7, 2008 and September 1, 2011. The Court's certification order acknowledged the existence of individualized issues of causation and damages, which the Court stated could be addressed in individualized proceedings following a class trial on the alter ego allegations and the meaning of the subject insurance policy language. The CNO Entities continue to vigorously defend the case.</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Regulatory Examinations and Fines</span></div><div><span><br/></span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Insurance companies face significant risks related to regulatory investigations and actions.  Regulatory investigations generally result from matters related to sales or underwriting practices, payment of contingent or other sales commissions, claim payments and procedures, product design, product disclosure, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, procedures related to canceling policies, changing the way cost of insurance charges are calculated for certain life insurance products or recommending unsuitable products to customers.  We are, in the ordinary course of our business, subject to various examinations, inquiries and </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">information requests from state, federal and other authorities.  The ultimate outcome of these regulatory actions (including the costs of complying with information requests and policy reviews) cannot be predicted with certainty.  In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of liabilities we have established and we could suffer significant reputational harm as a result of these matters, which could also have a material adverse effect on our business, financial condition, results of operations or cash flows.</span></div>
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VariableInterestEntitiesNetGainLossFromSaleOfFixedMaturityInvestments
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CY2024Q1 cno Available For Sale Fixed Maturities With Significant Unobservable Inputs Investment Grade Percent
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CY2024Q1 cno Available For Sale Maturities With Significant Unobservable Inputs Corporate Securities Percent
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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