Auditor Firm ID

  
2021 ANNUAL REPORT ON FORM 10-K  
TABLE OF CONTENTS

|  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |
| Part I |  | [5](#ib516704f6c694dd39ca65eef55d59c29_13) |
| Item 1. | Business | [5](#ib516704f6c694dd39ca65eef55d59c29_13) |
|  | Cincinnati Financial Corporation – Introduction | [5](#ib516704f6c694dd39ca65eef55d59c29_16) |
|  | Our Business and Our Strategy | [6](#ib516704f6c694dd39ca65eef55d59c29_19) |
|  | Our Segments | [14](#ib516704f6c694dd39ca65eef55d59c29_22) |
|  | Other | [27](#ib516704f6c694dd39ca65eef55d59c29_25) |
|  | Regulation | [28](#ib516704f6c694dd39ca65eef55d59c29_28) |
| Item 1A. | Risk Factors | [32](#ib516704f6c694dd39ca65eef55d59c29_31) |
| Item 1B. | Unresolved Staff Comments | [43](#ib516704f6c694dd39ca65eef55d59c29_34) |
| Item 2. | Properties | [43](#ib516704f6c694dd39ca65eef55d59c29_37) |
| Item 3. | Legal Proceedings | [43](#ib516704f6c694dd39ca65eef55d59c29_40) |
| Item 4. | Mine Safety Disclosures | [43](#ib516704f6c694dd39ca65eef55d59c29_43) |
| Part II |  | [44](#ib516704f6c694dd39ca65eef55d59c29_46) |
| Item 5. | Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | [44](#ib516704f6c694dd39ca65eef55d59c29_49) |
| Item 6. | [Reserved] | [45](#ib516704f6c694dd39ca65eef55d59c29_2655) |
| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | [46](#ib516704f6c694dd39ca65eef55d59c29_55) |
|  | Introduction | [46](#ib516704f6c694dd39ca65eef55d59c29_58) |
|  | Executive Summary | [47](#ib516704f6c694dd39ca65eef55d59c29_61) |
|  | Critical Accounting Estimates | [52](#ib516704f6c694dd39ca65eef55d59c29_64) |
|  | Recent Accounting Pronouncements | [58](#ib516704f6c694dd39ca65eef55d59c29_67) |
|  | Financial Results | [59](#ib516704f6c694dd39ca65eef55d59c29_70) |
|  | Liquidity and Capital Resources | [93](#ib516704f6c694dd39ca65eef55d59c29_91) |
|  | Safe Harbor Statement | [109](#ib516704f6c694dd39ca65eef55d59c29_94) |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | [112](#ib516704f6c694dd39ca65eef55d59c29_97) |
| Item 8. | Financial Statements and Supplementary Data | [118](#ib516704f6c694dd39ca65eef55d59c29_112) |
|  | Responsibility for Financial Statements | [118](#ib516704f6c694dd39ca65eef55d59c29_115) |
|  | Management’s Annual Report on Internal Control Over Financial Reporting | [119](#ib516704f6c694dd39ca65eef55d59c29_118) |
|  | Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34) | [120](#ib516704f6c694dd39ca65eef55d59c29_121) |
|  | Consolidated Balance Sheets | [122](#ib516704f6c694dd39ca65eef55d59c29_124) |
|  | Consolidated Statements of Income | [123](#ib516704f6c694dd39ca65eef55d59c29_130) |
|  | Consolidated Statements of Comprehensive Income | [124](#ib516704f6c694dd39ca65eef55d59c29_133) |
|  | Consolidated Statements of Shareholders’ Equity | [125](#ib516704f6c694dd39ca65eef55d59c29_139) |
|  | Consolidated Statements of Cash Flows | [126](#ib516704f6c694dd39ca65eef55d59c29_142) |
|  | Notes to Consolidated Financial Statements | [127](#ib516704f6c694dd39ca65eef55d59c29_145) |
| Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | [174](#ib516704f6c694dd39ca65eef55d59c29_238) |
| Item 9A. | Controls and Procedures | [174](#ib516704f6c694dd39ca65eef55d59c29_241) |
| Item 9B. | Other Information | [174](#ib516704f6c694dd39ca65eef55d59c29_244) |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | [174](#ib516704f6c694dd39ca65eef55d59c29_2641) |

  
  
Cincinnati Financial Corporation - 2021 10-K - Page 3
