Hartford Insurance Group (HIG) FY2016 results: revenue $16.3 billion, up 1.8% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $16.3 billion for fiscal 2016, the year ended 31 December 2016, up 1.8% on the year before. Net income was $896 million, down 46.7%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$16.3 billion
+1.8% on the year
FY2009FY2016
Operating margin
2.7%
9.2% a year earlier
FY2009FY2016
Net income
$896 million
-46.7% on the year
FY2009FY2016
Diluted EPS
$2.27
-42.7% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
16,291
15,997
18,614
+1.8%
Operating income
447
1,478
1,699
-69.8%
Operating margin
2.7%
9.2%
9.1%
Interest expense
327
346
376
-5.5%
Pre-tax income
447
1,478
1,699
-69.8%
Income tax
-166
289
350
Effective tax rate
-37.1%
19.6%
20.6%
Net income
896
1,682
798
-46.7%
Net margin
5.5%
10.5%
4.3%
Diluted EPS
$2.27
$3.96
$1.73
-42.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,066
2,756
1,886
-25.0%
Capital expenditure
224
307
121
-27.0%
Free cash flow
1,842
2,449
1,765
-24.8%
Free cash flow margin
11.3%
15.3%
9.5%
Cash from investing
949
485
1,696
+95.7%
Cash from financing
-2,541
-3,144
-4,476
Depreciation and amortisation
186
164
198
+13.4%
Share-based compensation
81.0
7.0
0.0
+1,057.1%
Buybacks
1,330
1,250
1,796
+6.4%
Dividends paid
334
316
282
+5.7%
Dividend per share
$0.86
$0.78
$0.66
+10.3%
Diluted shares, weighted
395m
425m
460m
-7.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
16,903
17,642
18,720
-4.2%
Debt
4,909
5,359
6,109
-8.4%
Other liabilities
202,764
205,347
220,184
-1.3%
Total liabilities and equity
224,576
228,348
245,013
-1.7%
Fixed assets
991
974
831
+1.7%
Goodwill
567
498
498
+13.9%
Intangible assets
44.0
n/a
n/a
Investments
3,244
1,843
4,883
+76.0%
Cash and equivalents
328
143
141
+129.4%
Other assets
219,402
224,890
238,660
-2.4%
Total assets
224,576
228,348
245,013
-1.7%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.