HORACE MANN EDUCATORS CORP DE
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
HMN$53.69+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2022(1) | |||
| Cash flows - operating activities | |||||
| Net income | $102.8 | $45.0 | $19.8 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Net investment losses | 17.3 | 24.0 | 56.5 | ||
| Depreciation and intangible asset amortization | 26.4 | 26.2 | 27.6 | ||
| Share-based compensation expense | 9.9 | 9.5 | 8.9 | ||
| Loss (gain) from equity method investments, net of dividends or distributions | 35.5 | (14.5) | 18.2 | ||
| Other expense - goodwill impairments | — | — | 4.8 | ||
| Changes in: | |||||
| Insurance liabilities | 82.8 | 186.7 | 334.2 | ||
| Amounts due under reinsurance agreements | 55.7 | (12.5) | (309.8) | ||
| Income tax liabilities | 28.2 | (15.0) | 110.5 | ||
| Other operating assets and liabilities | 101.4 | 53.9 | (109.4) | ||
| Contributions to defined benefit plan | (1.4) | — | — | ||
| Other, net | (6.5) | (1.2) | 10.2 | ||
| Net cash provided by operating activities | 452.1 | 302.1 | 171.5 | ||
| Cash flows - investing activities | |||||
| Fixed maturity securities purchases | (1,161.5) | (596.7) | (1,046.4) | ||
| Fixed maturity securities sales | 380.3 | 377.6 | 752.0 | ||
| Fixed maturity securities maturities, paydowns, calls and redemptions | 539.7 | 291.9 | 496.8 | ||
| Equity securities purchases | (4.5) | (2.5) | (5.2) | ||
| Equity securities sales and repayments | 16.3 | 18.7 | 12.0 | ||
| Limited partnership interests purchases | (74.8) | (207.2) | (356.4) | ||
| Limited partnership interests sales | 119.5 | 41.4 | 66.6 | ||
| Change in short-term and other investments, net | 42.0 | (39.8) | 40.0 | ||
| Acquisition of business, net of cash acquired | — | — | (164.4) | ||
| Other, net | 7.2 | 9.2 | (9.6) | ||
| Net cash used in investing activities | (135.8) | (107.4) | (214.6) | ||
| Cash flows - financing activities | |||||
| Dividends paid to shareholders | (55.5) | (53.9) | (52.6) | ||
| Proceeds from issuance of 2023 Senior Notes due 2028 | — | 297.7 | — | ||
| Principal repayment on Revolving Credit Facility | — | (249.0) | — | ||
| Principal repayment on FHLB borrowings | — | — | (5.0) | ||
| Treasury stock acquired | (8.6) | (6.5) | (24.0) | ||
| Proceeds from exercise of stock options | 5.1 | — | — | ||
| Withholding tax payments on RSUs tendered | (1.8) | (1.8) | (2.4) | ||
| Annuity contracts: variable, fixed and FHLB funding agreements | |||||
| Deposits | 796.1 | 787.6 | 636.5 | ||
| Benefits, withdrawals and net transfers to Separate Account variable annuity assets | (637.0) | (604.7) | (472.2) | ||
| Repayment of FHLB funding agreements | (270.0) | (189.5) | (149.0) | ||
| Life policy accounts deposits, withdrawals, and surrenders | 11.7 | 8.6 | 7.8 | ||
| Change in deposit asset on reinsurance | (162.4) | (123.6) | (67.0) | ||
| Net increase (decrease) in reverse repurchase agreements | 12.0 | (70.2) | 70.2 | ||
| Change in book overdrafts | 2.5 | (2.5) | 9.9 | ||
| Net cash used in financing activities | (307.9) | (207.8) | (47.8) | ||
| Net increase (decrease) in cash | 8.4 | (13.1) | (90.9) | ||
| Cash at beginning of year | 29.7 | 42.8 | 133.7 | ||
| Cash at end of year | $38.1 | $29.7 | $42.8 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.