The Hartford 2010 Annual Report Download - page 131

F-3
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
Consolidated Statements of Operations
For the years ended December 31,
(In millions, except for per share data) 2010 2009 2008
Revenues
Earned premiums $ 14,055 $ 14,424 $ 15,503
Fee income 4,784 4,576 5,135
Net investment income (loss):
Securities available-for-sale and other 4,392 4,031 4,335
Equity securities, trading (774) 3,188 (10,340)
Total net investment income (loss) 3,618 7,219 (6,005)
Net realized capital losses:
Total other-than-temporary impairment ("OTTI") losses (852) (2,191) (3,964)
OTTI losses recognized in other comprehensive income 418 683 —
Net OTTI losses recognized in earnings (434) (1,508) (3,964)
Net realized capital losses, excluding net OTTI losses recognized in earnings (120) (502) (1,954)
Total net realized capital losses (554) (2,010) (5,918)
Other revenues 480 492 504
Total revenues 22,383 24,701 9,219
Benefits, losses and expenses
Benefits, losses and loss adjustment expenses 13,025 13,831 14,088
Benefits, losses and loss adjustment expenses – returns
credited on international variable annuities (774) 3,188 (10,340)
Amortization of deferred policy acquisition costs and
present value of future profits 2,544 4,267 4,271
Insurance operating costs and other expenses 4,663 4,635 4,703
Interest expense 508 476 343
Goodwill impairment 153 32 745
Total benefits, losses and expenses 20,119 26,429 13,810
Income (loss) before income taxes 2,264 (1,728) (4,591)
Income tax expense (benefit) 584 (841) (1,842)
Net income (loss) $ 1,680 $ (887) $ (2,749)
Preferred stock dividends and accretion of discount 515 127 8
Net income (loss) available to common shareholders $ 1,165 $ (1,014) $ (2,757)
Earnings (Loss) per common share
Basic $ 2.70 $ (2.93) $ (8.99)
Diluted $ 2.49 $ (2.93) $ (8.99)
Cash dividends declared per common share $ 0.20 $ 0.20 $ 1.91
See Notes to Consolidated Financial Statements.