Hartford Insurance Group (HIG) FY2014 results: revenue $18.6 billion, down 10.0% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $18.6 billion for fiscal 2014, the year ended 31 December 2014, down 10.0% on the year before. Net income was $798 million, up 353.4%, and diluted earnings per share $1.73. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$18.6 billion
-10.0% on the year
FY2007FY2014
Operating margin
9.1%
7.1% a year earlier
FY2007FY2014
Net income
$798 million
+353.4% on the year
FY2007FY2014
Diluted EPS
$1.73
+408.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
18,614
20,673
22,086
-10.0%
Operating income
1,699
1,471
-89.0
+15.5%
Operating margin
9.1%
7.1%
-0.4%
Interest expense
376
397
457
-5.3%
Pre-tax income
1,699
1,471
-89.0
+15.5%
Income tax
350
246
-309
+42.3%
Effective tax rate
20.6%
16.7%
n/a
Net income
798
176
-38.0
+353.4%
Net margin
4.3%
0.9%
-0.2%
Diluted EPS
$1.73
$0.34
-$0.18
+408.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,886
1,237
2,681
+52.5%
Capital expenditure
121
64.0
66.0
+89.1%
Free cash flow
1,765
1,173
2,615
+50.5%
Free cash flow margin
9.5%
5.7%
11.8%
Cash from investing
1,696
3,745
-2,557
-54.7%
Cash from financing
-4,476
-5,820
-228
Depreciation and amortisation
198
174
183
+13.8%
Share-based compensation
0.0
1.0
95.0
Buybacks
1,796
600
154
+199.3%
Dividends paid
282
202
175
+39.6%
Dividend per share
$0.66
$0.50
$0.40
+32.0%
Diluted shares, weighted
460m
484m
438m
-5.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
18,720
18,905
22,447
-1.0%
Debt
6,109
6,544
7,126
-6.6%
Other liabilities
220,184
252,435
268,940
-12.8%
Total liabilities and equity
245,013
277,884
298,513
-11.8%
Fixed assets
831
877
977
-5.2%
Goodwill
498
498
654
0.0%
Intangible assets
n/a
n/a
49.0
Investments
4,883
4,008
n/a
+21.8%
Securities held for sale or to maturity
n/a
n/a
85,922
Cash and equivalents
141
1,428
2,421
-90.1%
Other assets
238,660
271,073
208,490
-12.0%
Total assets
245,013
277,884
298,513
-11.8%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.