The Hartford 2013 Annual Report Download - page 240

S-2
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(Registrant)
(In millions)
As of December 31,
Condensed Balance Sheets 2013 2012
Assets
Fixed maturities, available-for-sale, at fair value $ 1,064 $ 542
Other investments 17 23
Short-term investments 801 825
Investment in affiliates 23,353 28,104
Deferred income taxes 1,227 1,317
Unamortized Issue Costs 51 60
Other assets 45 30
Total assets $ 26,558 $ 30,901
Liabilities and Stockholders’ Equity
Net payable to affiliates [1] $ 407 $ 267
Short-term debt (includes current maturities of long-term debt) 200 320
Long-term debt 5,964 6,566
Other liabilities 1,082 1,301
Total liabilities 7,653 8,454
Total stockholders’ equity 18,905 22,447
Total liabilities and stockholders’ equity $ 26,558 $ 30,901
For the years ended December 31,
Condensed Statements of Operations and Comprehensive Income 2013 2012 2011
Net investment income $ 10 $ 3 $ 2
Net realized capital losses (7)(6) (5)
Total revenues 3 (3) (3)
Interest expense 384 439 490
Other expenses 178 926 (41)
Total expenses 562 1,365 449
Loss before income taxes and earnings of subsidiaries (559)(1,368) (452)
Income tax benefit (187)(482) (154)
Loss before earnings of subsidiaries (372)(886) (298)
Earnings of subsidiaries 548 848 1,010
Net income (loss) 176 (38) 712
Other comprehensive income (loss) - parent company:
Change in net gain/loss on cash-flow hedging instruments (11) — —
Change in net unrealized gain/loss on securities (13) 1 —
Change in pension and other postretirement plan adjustments 127 (172) (57)
Other comprehensive loss, net of taxes before other comprehensive income of subsidiaries 103 (171) (57)
Other comprehensive income of subsidiaries 2,819 1,763 2,298
Total other comprehensive income 2,922 1,592 2,241
Total comprehensive income $ 2,746 $ 1,554 $ 2,953
[1] Pursuant to an intercompany note agreement between White River Life Reinsurance Company ("WRR"), an affiliate captive reinsurer, and the
Company, WRR may borrow up to $1 billion from the Company in order to maintain certain statutory capital levels required by its plan of
operations and which can be used by WRR to settle outstanding intercompany payables with Hartford Life and Annuity Insurance Company, an
indirect wholly-owned subsidiary of the Company. As of December 31, 2013, WRR has borrowed $655 under this intercompany note agreement.