Hartford Insurance Group (HIG) FY2023 results: revenue $24.5 billion, up 9.7% on the year
Hartford Insurance Group, Inc. (HIG) reported revenue of $24.5 billion for fiscal 2023, the year ended 31 December 2023, up 9.7% on the year before. Net income was $2.5 billion, up 37.7%, and diluted earnings per share $7.97. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$24.5 billion
+9.7% on the year
FY2016FY2023
Operating margin
12.6%
10.1% a year earlier
FY2016FY2023
Net income
$2.5 billion
+37.7% on the year
FY2016FY2023
Diluted EPS
$7.97
+46.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,220
4,008
4,093
+5.3%
Capital expenditure
215
175
133
+22.9%
Free cash flow
4,005
3,833
3,960
+4.5%
Free cash flow margin
16.3%
17.1%
17.7%
Cash from investing
-2,431
-1,277
-2,466
Cash from financing
-1,947
-2,710
-1,581
Depreciation and amortisation
204
213
282
-4.2%
Share-based compensation
125
131
128
-4.6%
Buybacks
1,400
1,550
1,702
-9.7%
Dividends paid
528
506
485
+4.3%
Dividend per share
$1.75
$1.58
$1.44
+10.8%
Diluted shares, weighted
312m
330m
354m
-5.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
15,327
13,676
17,805
+12.1%
Debt
4,362
4,357
4,944
+0.1%
Other liabilities
57,091
54,989
53,829
+3.8%
Total liabilities and equity
76,780
73,022
76,578
+5.1%
Fixed assets
896
927
1,027
-3.3%
Goodwill
1,911
1,911
1,911
0.0%
Intangible assets
707
778
858
-9.1%
Securities held for sale or to maturity
39,818
36,231
42,847
+9.9%
Cash and equivalents
189
344
337
-45.1%
Other assets
33,259
32,831
29,598
+1.3%
Total assets
76,780
73,022
76,578
+5.1%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.