Hartford Insurance Group (HIG) FY2011 results: revenue $21.7 billion, down 0.2% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $21.7 billion for fiscal 2011, the year ended 31 December 2011, down 0.2% on the year before. Net income was $712 million, down 56.5%, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$21.7 billion
-0.2% on the year
FY2007FY2011
Operating margin
0.9%
10.4% a year earlier
FY2007FY2011
Net income
$712 million
-56.5% on the year
FY2007FY2011
Diluted EPS
$1.30
-47.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
21,733
21,770
24,433
-0.2%
Operating income
200
2,264
-1,728
-91.2%
Operating margin
0.9%
10.4%
-7.1%
Interest expense
508
508
476
0.0%
Pre-tax income
200
2,272
-1,721
-91.2%
Income tax
-373
568
-838
Effective tax rate
-186.5%
25.0%
n/a
Net income
712
1,636
-887
-56.5%
Net margin
3.3%
7.5%
-3.6%
Diluted EPS
$1.30
$2.49
-$2.93
-47.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,274
3,309
2,974
-31.3%
Cash from investing
-1,182
-434
-3,123
Cash from financing
-609
-2,955
523
Depreciation and amortisation
216
276
253
-21.7%
Share-based compensation
53.0
94.0
72.0
-43.6%
Dividends paid
153
85.0
149
+80.0%
Dividend per share
$0.40
$0.20
$0.20
+100.0%
Diluted shares, weighted
478m
482m
346m
-0.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
21,486
18,754
16,200
+14.6%
Non-controlling interest
n/a
0.0
29.0
Deposits
n/a
233
273
Short-term borrowings
0.0
n/a
n/a
Debt
6,216
6,207
5,496
+0.1%
Other liabilities
274,907
293,152
285,719
-6.2%
Total liabilities and equity
302,609
318,346
307,717
-4.9%
Fixed assets
1,029
1,150
1,026
-10.5%
Goodwill
1,006
1,051
1,204
-4.3%
Intangible assets
55.0
64.0
72.0
-14.1%
Securities held for sale or to maturity
81,809
77,820
71,153
+5.1%
Cash and equivalents
2,581
2,062
2,062
+25.2%
Other assets
216,129
236,199
232,200
-8.5%
Total assets
302,609
318,346
307,717
-4.9%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.