Hartford Insurance Group (HIG) FY2013 results: revenue $20.7 billion, down 6.4% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $20.7 billion for fiscal 2013, the year ended 31 December 2013, down 6.4% on the year before. Net income was $176 million, and diluted earnings per share $0.34. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$20.7 billion
-6.4% on the year
FY2007FY2013
Operating margin
7.1%
-0.4% a year earlier
FY2007FY2013
Net income
$176 million
FY2007FY2013
Diluted EPS
$0.34
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
20,673
22,086
21,733
-6.4%
Operating income
1,471
-89.0
200
Operating margin
7.1%
-0.4%
0.9%
Interest expense
397
457
508
-13.1%
Pre-tax income
1,471
-89.0
200
Income tax
246
-309
-373
Effective tax rate
16.7%
n/a
-186.5%
Net income
176
-38.0
712
Net margin
0.9%
-0.2%
3.3%
Diluted EPS
$0.34
-$0.18
$1.30
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,237
2,681
2,274
-53.9%
Capital expenditure
64.0
66.0
n/a
-3.0%
Free cash flow
1,173
2,615
n/a
-55.1%
Free cash flow margin
5.7%
11.8%
n/a
Cash from investing
3,745
-2,557
-1,182
Cash from financing
-5,820
-228
-609
Depreciation and amortisation
174
183
216
-4.9%
Share-based compensation
1.0
95.0
53.0
-98.9%
Buybacks
600
154
n/a
+289.6%
Dividends paid
202
175
153
+15.4%
Dividend per share
$0.50
$0.40
$0.40
+25.0%
Diluted shares, weighted
484m
438m
478m
+10.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
18,905
22,447
21,486
-15.8%
Short-term borrowings
n/a
n/a
0.0
Debt
6,544
7,126
6,216
-8.2%
Other liabilities
252,435
268,940
274,907
-6.1%
Total liabilities and equity
277,884
298,513
302,609
-6.9%
Fixed assets
877
977
1,029
-10.2%
Goodwill
498
654
1,006
-23.9%
Intangible assets
n/a
49.0
55.0
Investments
4,008
n/a
n/a
Securities held for sale or to maturity
n/a
85,922
81,809
Cash and equivalents
1,428
2,421
2,581
-41.0%
Other assets
271,073
208,490
216,129
+30.0%
Total assets
277,884
298,513
302,609
-6.9%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.