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The Hartford 2008 Annual Report Download - page 366

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Foreign currency translation gains and losses are reflected in stockholders’ equity as a component of accumulated other

comprehensive income. The Company’s foreign subsidiaries’ balance sheet accounts are translated at the exchange rates in

effect at each year end and income statement accounts are translated at the average rates of exchange prevailing during the

year. The national currencies of the international operations are generally their functional currencies.

F-21

Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009