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Schedule II Condensed Financial Information of the Hartford Financial Services, Inc.
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Schedule II Condensed Financial Information of the Hartford Financial Services, Inc.
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(Registrant)
(in millions)
 
As of December 31,
Condensed Balance Sheets
2019
2018
Assets
 
 
Fixed maturities, available-for-sale, at fair value
$
294

$
785

Equity securities, at fair value
31

30

Other investments
159

103

Short-term investments
874

2,603

Cash
—

3

Investment in affiliates
21,243

15,074

Deferred income taxes
561

992

Unamortized issue costs
2

3

Other assets
71

78

Total assets
$
23,235

$
19,671

Liabilities and Stockholders’ Equity
 

 

Net payable to affiliates
$
1,602

$
1,530

Short-term debt (includes current maturities of long-term debt)
500

413

Long-term debt
4,348

4,265

Other liabilities
515

362

Total liabilities
6,965

6,570

Total stockholders’ equity
16,270

13,101

Total liabilities and stockholders’ equity
$
23,235

$
19,671































THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF THE HARTFORD FINANCIAL SERVICES GROUP, INC. (continued)
(Registrant)
(In millions)
 
For the years ended December 31,
Condensed Statements of Operations and Comprehensive Income
2019
2018
2017
Net investment income
$
50

$
41

$
15

Net realized capital gains (losses)
3

37

(1
)
Total revenues
53

78

14

Interest expense
255

298

316

Loss on extinguishment of debt
68

6

—

Pension settlement
—

—

750

Other expense (income)
15

(6
)
1

Total expenses
338

298

1,067

Loss before income taxes and earnings of subsidiaries
(285
)
(220
)
(1,053
)
Income tax expense (benefit)
(60
)
(630
)
106

Income (loss) before earnings of subsidiaries
(225
)
410

(1,159
)
Earnings (losses) of subsidiaries [1]
2,310

1,397

(1,972
)
Net income (loss)
2,085

1,807

(3,131
)
Other comprehensive income (loss) - parent company:
 
 
 
Change in net gain or loss on cash-flow hedging instruments
(24
)
8

2

Change in net unrealized gain or loss on securities
5

(271
)
280

Change in pension and other postretirement plan adjustments
(35
)
(26
)
107

Other comprehensive income (loss), net of taxes before other comprehensive income of subsidiaries
(54
)
(289
)
389

Other comprehensive income (loss) of subsidiaries
1,685

(1,948
)
611

Total other comprehensive income (loss)
1,631

(2,237
)
1,000

Total comprehensive income (loss)
$
3,716

$
(430
)
$
(2,131
)
[1]2017 includes amounts for the life and annuity business accounted for as held for sale and operating results for that business included in discontinued operations in the Consolidated Financial Statements. See Note 21 – Business Dispositions and Discontinued Operations of Notes to Consolidated Financial Statements.

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF THE HARTFORD FINANCIAL SERVICES GROUP, INC. (continued)
(Registrant)
(In millions)
 
For the years ended December 31,
Condensed Statements of Cash Flows
2019
2018
2017
Operating Activities
 
 
 
Net income (loss)
$
2,085

$
1,807

$
(3,131
)
Loss on extinguishment of debt
68

6

—

Dividends received from subsidiaries
18

3,115

2,142

Equity in net loss (income) of subsidiaries
(2,310
)
(1,397
)
1,972

Net realized capital losses (gains)
3

(37
)
2

Change in operating assets and liabilities
640

(716
)
1,076

Cash provided by operating activities
504

2,778

2,061

Investing Activities
 
 
 
Net proceeds from (payments for) short-term investments
1,731

(2,161
)
(121
)
Proceeds from the sale/maturity/prepayment of:
 
 
 
   Fixed maturities, available-for-sale
478

—

—

Net proceeds from (payments for) derivatives
(33
)
—

—

Net additions to property and equipment
—

(69
)
—

Amount paid for business acquired
(2,098
)
—

—

Capital contributions to subsidiaries
(20
)
(148
)
(633
)
Cash provided by (used for) investing activities
58

(2,378
)
(754
)
Financing Activities
 
 
 
Proceeds from issuance of debt
1,376

490

500

Repayments of debt
(1,278
)
(826
)
(416
)
Preferred stock issued, net of issuance costs
—

334

—

Treasury stock acquired
(200
)
—

(1,028
)
Net issuance (return of) shares under incentive and stock compensation plans
(6
)
(18
)
(20
)
Dividends paid on common shares
(436
)
(379
)
(341
)
Dividends paid on preferred shares
(21
)
—

—

Cash used for financing activities
(565
)
(399
)
(1,305
)
Net increase (decrease) in cash
(3
)
1

2

Cash — beginning of period
3

2

—

Cash — end of period
$
—

$
3

$
2

Supplemental Disclosure of Cash Flow Information
 
 
 
Interest Paid
$
255

$
290

$
312