HORACE MANN EDUCATORS CORP DE
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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Corporate & Other
The following table provides certain financial information for Corporate & Other for the years indicated.
| ($ in millions) | Year Ended December 31, | 2023-2022 | ||
|---|---|---|---|---|
| 2023 · 2022 · Change % | ||||
| Interest expense | $29.7 | $19.4 | 53.1% | |
| Net investment losses, pretax | (24.0) | (56.5) | N.M. | |
| Other operating expenses, net investment income and other income | (4.0) | (7.8) | -147.4% | |
| Net investment losses, after tax | (18.8) | (44.5) | N.M. | |
| Net loss | (45.9) | (65.5) | -29.9% | |
| Core loss* | (27.1) | (21.0) | -29.0% | |
For 2023, the net loss decreased $19.6 million, primarily due to lower net investment losses partially offset by an increase in interest expense on the Revolving Credit Facility and the 2023 Senior Notes. The outstanding balance on the Revolving Credit Facility was fully paid off on September 15, 2023 following the issuance of the 2023 Senior Notes.
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