THE HARTFORD FINANCIAL SERVICES GROUP, INC. (HIG) FY2024 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-07-01 to 2024-09-30

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THE HARTFORD FINANCIAL SERVICES GROUP, INC. cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $767,000,000.00Increase in insurance liabilities → Operating adjustments reconciliation: $621,000,000.00Amortization of deferred policy acquisition costs → Operating adjustments reconciliation: $585,000,000.00Increase (Decrease) in Premiums Receivable → Operating adjustments reconciliation: $167,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $85,000,000.00Other operating activities, net → Operating adjustments reconciliation: $39,000,000.00Net change in other assets and other liabilities → Operating adjustments reconciliation: $36,000,000.00Net realized losses → Operating adjustments reconciliation: $13,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $911,000,000.00Operating adjustments reconciliation → Additions to deferred policy acquisition costs: $610,000,000.00Operating adjustments reconciliation → Net change in accrued and deferred income taxes: $24,000,000.00Operating adjustments reconciliation → Increase (Decrease) in Reinsurance Recoverable: $1,000,000.00Fixed maturities, AFS → investing reconciliation: $2,834,000,000.00Payments for (Proceeds from) Derivative Instrument, Investing Activities → investing reconciliation: $46,000,000.00Limited partnership and other alternative investments → investing reconciliation: $35,000,000.00Mortgage loans → investing reconciliation: $33,000,000.00Equity securities, at fair value → investing reconciliation: $4,000,000.00investing reconciliation → Fixed maturities, AFS: $3,464,000,000.00investing reconciliation → Net proceeds from short-term investments: $238,000,000.00investing reconciliation → Limited partnership and other alternative investments: $161,000,000.00investing reconciliation → Mortgage loans: $89,000,000.00investing reconciliation → Net additions of property and equipment: $60,000,000.00investing reconciliation → Other investing activities, net: $27,000,000.00investing reconciliation → Equity securities, at fair value: $2,000,000.00Net cash used in financing activities → financing reconciliation: $520,000,000.00ProceedsPaymentsIssuanceReturnOfSharesUnderIncentiveAndShareBasedCompensationPlans → financing reconciliation: $25,000,000.00Deposits and other additions to investment and universal life-type contracts → financing reconciliation: $22,000,000.00financing reconciliation → Treasury stock acquired: $400,000,000.00financing reconciliation → Dividends paid on common stock: $138,000,000.00financing reconciliation → Withdrawals and other deductions from investment and universal life-type contracts: $23,000,000.00financing reconciliation → Dividends paid on preferred stock: $6,000,000.00Net cash used in investing activities → investing reconciliation: $1,089,000,000.00Exchange-rate effect → Cash sources and uses: $2,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $210,000,000.00Net cash from operating activities → Cash sources and uses: $1,678,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $281,000,000.00Cash sources and uses → Net cash used in investing activities: $1,089,000,000.00Cash sources and uses → Net cash used in financing activities: $520,000,000.00Net income: $767,000,000.00Net income+$767.00 MNet realized losses: $13,000,000.00Investment gain & loss+$13.00 MAmortization of deferred policy acquisition costs: $585,000,000.00Amortization of deferred policy acquisition costs+$585.00 MAdditions to deferred policy acquisition costs: -$610,000,000.00Deferred acquisition costs−$610.00 MDepreciation and amortization: $85,000,000.00D&A and accretion+$85.00 MOther operating activities, net: $39,000,000.00Other operating, net+$39.00 MIncrease (Decrease) in Reinsurance Recoverable: -$1,000,000.00Reinsurance recoverables−$1.00 MNet change in accrued and deferred income taxes: -$24,000,000.00Deferred tax balances−$24.00 MIncrease in insurance liabilities: $621,000,000.00Insurance liabilities+$621.00 MIncrease (Decrease) in Premiums Receivable: $167,000,000.00Premiums receivable+$167.00 MNet change in other assets and other liabilities: $36,000,000.00Other working capital, net+$36.00 MNet cash from operating activities: $1,678,000,000.00Operating cash+$1.68 BOperating adjustments reconciliation: $1,546,000,000.00Deposits and other additions to investment and universal life-type contracts: $22,000,000.00Policyholder deposits+$22.00 MWithdrawals and other deductions from investment and universal life-type contracts: -$23,000,000.00Policyholder withdrawals−$23.00 MProceedsPaymentsIssuanceReturnOfSharesUnderIncentiveAndShareBasedCompensationPlans: $25,000,000.00ProceedsPaymentsIssuanceReturnOfSharesUnderIncentiveAndShareBasedCompensationPlans+$25.00 MTreasury stock acquired: -$400,000,000.00Common stock repurchases−$400.00 MDividends paid on preferred stock: -$6,000,000.00Preferred dividends paid−$6.00 MDividends paid on common stock: -$138,000,000.00Common dividends paid−$138.00 MNet cash used in financing activities: -$520,000,000.00. Cash required to fund net payments.Financing cash−$520.00 Mfinancing reconciliation: $567,000,000.00Fixed maturities, AFS: $2,834,000,000.00AFS securities sales+$2.83 BFixed maturities, at fair value using the fair value option: $0.00Equity securities, at fair value: $4,000,000.00Marketable securities proceeds+$4.00 MMortgage loans: $33,000,000.00Mortgage note collections+$33.00 MLimited partnership and other alternative investments: $35,000,000.00Limited partnership proceeds+$35.00 MFixed maturities, AFS: -$3,464,000,000.00AFS securities purchases−$3.46 BPayments for the purchase of Fair Value Option Fixed Maturity Securties: $0.00Equity securities, at fair value: -$2,000,000.00Marketable securities purchases−$2.00 MMortgage loans: -$89,000,000.00Mortgage note purchases−$89.00 MLimited partnership and other alternative investments: -$161,000,000.00Limited partnership purchases−$161.00 MPayments for (Proceeds from) Derivative Instrument, Investing Activities: $46,000,000.00Derivatives, net+$46.00 MNet additions of property and equipment: -$60,000,000.00PP&E purchases−$60.00 MNet proceeds from short-term investments: -$238,000,000.00Short-term investments, net−$238.00 MOther investing activities, net: -$27,000,000.00Other investing, net−$27.00 MNet cash used in investing activities: -$1,089,000,000.00. Cash required to fund net payments.Investing cash−$1.09 Binvesting reconciliation: $4,041,000,000.00Cash sources and uses: $1,890,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $210,000,000.00Beginning cash$210.00 MEnding cash: Cash, cash equivalents, and restricted cash: $281,000,000.00Ending cash$281.00 MExchange-rate effect: $2,000,000.00FX effect+$2.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$1.62 BOperating cash − cash spent on PP&ECash flow / Net income2.19×Operating cash flow ÷ net incomeNet cash change+$71.00 MEnding cash − beginning cash
Chart details

THE HARTFORD FINANCIAL SERVICES GROUP, INC. cash flow reconciliation, Jul 1, 2024 through Sep 30, 2024

Cash flows for Jul 1, 2024 through Sep 30, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2024. Ending cash: Sep 30, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2024
210,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
1,678,000,000 US dollars. Net cash provided.
Net income
767,000,000 US dollars
Net realized losses
13,000,000 US dollars
Amortization of deferred policy acquisition costs
585,000,000 US dollars
Additions to deferred policy acquisition costs
negative 610,000,000 US dollars
Depreciation and amortization
85,000,000 US dollars
Other operating activities, net
39,000,000 US dollars
Increase (Decrease) in Reinsurance Recoverable
negative 1,000,000 US dollars
Net change in accrued and deferred income taxes
negative 24,000,000 US dollars
Increase in insurance liabilities
621,000,000 US dollars
Increase (Decrease) in Premiums Receivable
167,000,000 US dollars
Net change in other assets and other liabilities
36,000,000 US dollars
Investing activities
negative 1,089,000,000 US dollars. Net cash used.
Fixed maturities, AFS
2,834,000,000 US dollars
Fixed maturities, at fair value using the fair value option
0 US dollars
Equity securities, at fair value
4,000,000 US dollars
Mortgage loans
33,000,000 US dollars
Limited partnership and other alternative investments
35,000,000 US dollars
Fixed maturities, AFS
negative 3,464,000,000 US dollars
Payments for the purchase of Fair Value Option Fixed Maturity Securties
0 US dollars
Equity securities, at fair value
negative 2,000,000 US dollars
Mortgage loans
negative 89,000,000 US dollars
Limited partnership and other alternative investments
negative 161,000,000 US dollars
Payments for (Proceeds from) Derivative Instrument, Investing Activities
46,000,000 US dollars
Net additions of property and equipment
negative 60,000,000 US dollars
Net proceeds from short-term investments
negative 238,000,000 US dollars
Other investing activities, net
negative 27,000,000 US dollars
Financing activities
negative 520,000,000 US dollars. Net cash used.
Deposits and other additions to investment and universal life-type contracts
22,000,000 US dollars
Withdrawals and other deductions from investment and universal life-type contracts
negative 23,000,000 US dollars
ProceedsPaymentsIssuanceReturnOfSharesUnderIncentiveAndShareBasedCompensationPlans
25,000,000 US dollars
Treasury stock acquired
negative 400,000,000 US dollars
Dividends paid on preferred stock
negative 6,000,000 US dollars
Dividends paid on common stock
negative 138,000,000 US dollars
Operating adjustment reconciliation
1,546,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
567,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
4,041,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
2,000,000 US dollars
Ending cash on Sep 30, 2024
281,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,890,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
71,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.19×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
1,678,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
60,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,618,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $911.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 1,678,000,000 US dollars minus 60,000,000 US dollars equals 1,618,000,000 US dollars.
THE HARTFORD FINANCIAL SERVICES GROUP, INC. (HIG) FY2024 Q3 Statement of Cash Flows Sankey chart
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