The Hartford 2009 Annual Report Download - page 242

S-3
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF
THE HARTFORD FINANCIAL SERVICES GROUP, INC. (continued)
(Registrant)
For the years ended December 31,
Condensed Statements of Cash Flows 2009 2008 2007
Operating Activities
Net income (loss) $ (887) $ (2,749) $ 2,949
Undistributed earnings of subsidiaries 1,307 (4,766) (1,422)
Change in operating assets and liabilities (590) 9,372 18
Cash provided by (used for) operating activities (170) 1,857 1,545
Investing Activities
Net sales (purchases) of short-term investments (412) (892) (76)
Purchase price of business acquired (10) — —
Capital contributions to subsidiaries (3,115) (2,300) (127)
Cash used for investing activities (3,537) (3,192) (203)
Financing Activities
Issuance of long-term debt — 2,670 495
Repayment/maturity of long-term debt — (955) (300)
Change in commercial paper (375) — 75
Issuance of convertible preferred shares — 727 —
Issuance of warrants — 512 —
Proceeds from issuance of preferred stock and warrants to
U.S. Treasury
3,400 — —
Proceeds from issuance of shares under discretionary
equity issuance plan 887 — —
Proceeds from issuances of shares under incentive and
stock compensation plans, net 20 54 186
Treasury stock acquired — (1,000) (1,193)
Return of shares to treasury stock under incentive and
stock compensation plans to treasury stock (3) (18) (14)
Excess tax benefits on stock-based compensation — 5 45
Dividends Paid – Preferred shares (73) — —
Dividends Paid – Common Shares (149) (660) (636)
Cash provided by (used for) financing activities 3,707 1,335 (1,342)
Net change in cash — — —
Cash – beginning of year — — —
Cash – end of year $ — $ — $ —
Supplemental Disclosure of Cash Flow Information
Interest Paid $ 454 $ 265 $ 239
Dividends Received from Subsidiaries $ 243 $ 2,279 $ 1,668
The condensed financial statements should be read in conjunction with
the consolidated financial statements and notes thereto.