Hartford Insurance Group (HIG) FY2019 results: revenue $20.7 billion, up 9.4% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $20.7 billion for fiscal 2019, the year ended 31 December 2019, up 9.4% on the year before. Net income was $2.1 billion, up 15.4%, and diluted earnings per share $5.66. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$20.7 billion
+9.4% on the year
FY2012FY2019
Operating margin
12.3%
9.2% a year earlier
FY2012FY2019
Net income
$2.1 billion
+15.4% on the year
FY2012FY2019
Diluted EPS
$5.66
+14.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
20,740
18,955
17,162
+9.4%
Selling, general and administrative
4,580
4,281
n/a
+7.0%
Operating income
2,560
1,753
723
+46.0%
Operating margin
12.3%
9.2%
4.2%
Interest expense
259
298
316
-13.1%
Pre-tax income
2,560
1,753
723
+46.0%
Income tax
475
268
985
+77.2%
Effective tax rate
18.6%
15.3%
136.2%
Net income
2,085
1,807
-3,131
+15.4%
Net margin
10.1%
9.5%
-18.2%
Diluted EPS
$5.66
$4.95
-$8.61
+14.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,489
2,843
2,186
+22.7%
Capital expenditure
105
122
250
-13.9%
Free cash flow
3,384
2,721
1,936
+24.4%
Free cash flow margin
16.3%
14.4%
11.3%
Cash from investing
-2,148
-1,962
-1,442
Cash from financing
-1,191
-1,467
-979
Depreciation and amortisation
283
232
197
+22.0%
Share-based compensation
125
130
116
-3.8%
Buybacks
200
0.0
1,028
Dividends paid
433
379
341
+14.2%
Dividend per share
$1.20
$1.10
$0.94
+9.1%
Diluted shares, weighted
365m
364m
364m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
16,270
13,101
13,494
+24.2%
Debt
4,848
4,678
4,998
+3.6%
Other liabilities
49,699
44,528
206,768
+11.6%
Total liabilities and equity
70,817
62,307
225,260
+13.7%
Fixed assets
1,181
1,006
1,034
+17.4%
Goodwill
1,913
1,290
1,290
+48.3%
Intangible assets
1,070
657
659
+62.9%
Securities held for sale or to maturity
42,148
35,652
36,964
+18.2%
Cash and equivalents
262
121
180
+116.5%
Other assets
24,243
23,581
185,133
+2.8%
Total assets
70,817
62,307
225,260
+13.7%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.