The Hartford 2008 Annual Report Download - page 139

Table of Contents
Realized Capital Gains and Losses by Segment
Life includes net realized capital gains and losses in each reporting segment. Following is a summary of the types of realized
gains and losses by segment:
Net realized gains (losses) for the year ended December 31, 2008
Individual Group
Retail Life Retirement Benefits International Institutional Other Total
Gains/losses on sales, net $ (31) $ (20) $ (38) $ (3) $ (20) $ 167 $ (32) $ 23
Impairments (474) (245) (243) (513) (114) (740) (95) (2,424)
Japanese fixed annuity contract
hedges, net –– –– –– –– 64 –– –– 64
Periodic net coupon settlements on
credit derivatives/Japan (6) (2) (4) (1) (28) –– 6 (35)
SFAS 157 transition impact (616) –– –– –– (34) –– –– (650)
Results of variable annuity hedge
program
GMWB derivatives, net (631) –– –– –– (82) –– –– (713)
Macro Hedge Program 40 –– –– –– 34 –– –– 74
Total results of variable annuity
hedge program (591) –– –– –– (48) –– –– (639)
Other, net (192) 15 13 (23) (242) (216) 168 (477)
Total net realized capital gains
(losses) (1,910) (252) (272) (540) (422) (789) 47 (4,138)
Income tax expense (benefit) and
DAC (859) (89) (101) (188) (133) (277) 13 (1,634)
Total gains (losses), net of tax and
DAC $ (1,051) $ (163) $ (171) $ (352) $ (289) $ (512) $ 34 $ (2,504)
Net realized gains (losses) for the year ended December 31, 2007
Individual Group
Retail Life Retirement Benefits International Institutional Other Total
Gains/losses on sales, net $ 17 $ 7 $ (11) $ 8 $ — $ 13 $ 11 $ 45
Impairments (87) (21) (22) (19) (48) (148) (13) (358)
Japanese fixed annuity contract
hedges, net — — — — 18 — — 18
Periodic net coupon settlements on
credit derivatives/Japan 1 — — — (68) 3 24 (40)
Results of variable annuity hedge
program
GMWB derivatives, net (286) –– –– –– –– –– –– (286)
Macro Hedge Program (12) –– –– –– –– –– –– (12)
Total results of variable annuity hedge
program (298) –– –– –– –– –– –– (298)
Other, net (14) (14) (8) (19) (18) (56) (57) (186)
Total net realized capital losses (381) (28) (41) (30) (116) (188) (35) (819)
Income tax benefit and DAC (212) (13) (13) (12) (52) (67) (4) (373)
Total losses, net of tax and DAC $ (169) $ (15) $ (28) $ (18) $ (64) $ (121) $ (31) $ (446)
78
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009