The Hartford 2009 Annual Report Download - page 31

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CONSOLIDATED RESULTS OF OPERATIONS
(In millions, except for per share data) For the years ended December 31,
Operating Summary 2009 2008 2007
Earned premiums $ 14,424 $ 15,503 $ 15,619
Fee income 4,576 5,135 5,436
Net investment income (loss):
Securities available-for-sale and other 4,031 4,335 5,214
Equity securities, trading [1] 3,188 (10,340) 145
Total net investment income (loss) 7,219 (6,005) 5,359
Net realized capital losses:
Total other-than-temporary impairment ("OTTI") losses (2,191) (3,964) (483)
OTTI losses recognized in other comprehensive income 683 — —
Net OTTI losses recognized in earnings (1,508) (3,964) (483)
Net realized capital losses, excluding net OTTI losses recognized in earnings (502) (1,954) (511)
Total net realized capital losses (2,010) (5,918) (994)
Other revenues 492 504 496
Total revenues 24,701 9,219 25,916
Benefits, losses and loss adjustment expenses 13,831 14,088 13,919
Benefits, losses and loss adjustment expenses – returns
credited on International variable annuities [1] 3,188 (10,340) 145
Amortization of deferred policy acquisition costs and
present value of future profits 4,267 4,271 2,989
Insurance operating costs and expenses 3,749 3,993 3,894
Interest expense 476 343 263
Goodwill impairment 32 745 —
Other expenses 886 710 701
Total benefits, losses and expenses 26,429 13,810 21,911
Income (loss) before income taxes (1,728) (4,591) 4,005
Income tax expense (benefit) (841) (1,842) 1,056
Net income (loss) $ (887) $ (2,749) $ 2,949
Supplemental Operating Data
Diluted earnings (loss) per common share $ (2.93) $ (8.99) $ 9.24
Total revenues, excluding net investment income on equity securities, trading 21,513 19,559 25,771
DAC Unlock benefit (charge), after-tax (1,034) (932) 213
As of December 31,
Summary of Financial Condition 2009 2008 2007
Total assets $ 307,717 $ 287,583 $ 360,361
Total investment, excluding equity securities, trading 93,235 89,287 94,904
Total stockholders’ equity 17,865 9,268 19,204
[1] Includes investment income and mark-to-market effects of equity securities, trading, supporting the international variable annuity business,
which are classified in net investment income with corresponding amounts credited to policyholders within benefits, losses and loss adjustment
expenses.