Hartford Insurance Group (HIG) FY2020 results: revenue $20.5 billion, down 1.0% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $20.5 billion for fiscal 2020, the year ended 31 December 2020, down 1.0% on the year before. Net income was $1.7 billion, down 16.7%, and diluted earnings per share $4.76. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$20.5 billion
-1.0% on the year
FY2013FY2020
Operating margin
10.3%
12.3% a year earlier
FY2013FY2020
Net income
$1.7 billion
-16.7% on the year
FY2013FY2020
Diluted EPS
$4.76
-15.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
20,523
20,740
18,955
-1.0%
Selling, general and administrative
4,480
4,580
4,281
-2.2%
Operating income
2,120
2,560
1,753
-17.2%
Operating margin
10.3%
12.3%
9.2%
Interest expense
236
259
298
-8.9%
Pre-tax income
2,120
2,560
1,753
-17.2%
Income tax
383
475
268
-19.4%
Effective tax rate
18.1%
18.6%
15.3%
Net income
1,737
2,085
1,807
-16.7%
Net margin
8.5%
10.1%
9.5%
Diluted EPS
$4.76
$5.66
$4.95
-15.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,871
3,489
2,843
+10.9%
Capital expenditure
114
105
122
+8.6%
Free cash flow
3,757
3,384
2,721
+11.0%
Free cash flow margin
18.3%
16.3%
14.4%
Cash from investing
-2,066
-2,148
-1,962
Cash from financing
-1,778
-1,191
-1,467
Depreciation and amortisation
271
283
232
-4.2%
Share-based compensation
116
125
130
-7.2%
Buybacks
150
200
0.0
-25.0%
Dividends paid
457
433
379
+5.5%
Dividend per share
$1.30
$1.20
$1.10
+8.3%
Diluted shares, weighted
361m
365m
364m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
18,556
16,270
13,101
+14.1%
Debt
4,352
4,848
4,678
-10.2%
Other liabilities
51,203
49,699
44,528
+3.0%
Total liabilities and equity
74,111
70,817
62,307
+4.7%
Fixed assets
1,122
1,181
1,006
-5.0%
Goodwill
1,911
1,913
1,290
-0.1%
Intangible assets
950
1,070
657
-11.2%
Securities held for sale or to maturity
45,035
42,148
35,652
+6.8%
Cash and equivalents
239
262
121
-8.8%
Other assets
24,854
24,243
23,581
+2.5%
Total assets
74,111
70,817
62,307
+4.7%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.