The Hartford 2014 Annual Report Download - page 137

Table of Contents

Consolidated Statements of Operations

(In millions, except for per share data)   
Revenues
Earned premiums $ 13,336 $ 13,231 $ 13,637
Fee income 1,996 2,105 3,567
Net investment income 3,154 3,264 4,127
Net realized capital gains (losses):
Total other-than-temporary impairment (“OTTI”) losses (64) (93) (389)
OTTI losses recognized in other comprehensive income (“OCI”) 5 20 40
Net OTTI losses recognized in earnings (59) (73) (349)
Net realized capital gains on investments transferred at fair value in business disposition by
reinsurance — 1,575 —
Other net realized capital gains 75 296 846
Total net realized capital gains 16 1,798 497
Other revenues 112 275 258
   
Benefits, losses and expenses
Benefits, losses and loss adjustment expenses 10,805 11,048 13,195
Amortization of deferred policy acquisition costs and present value of future profits 1,729 1,794 1,990
Insurance operating costs and other expenses 4,028 4,176 5,090
Loss on extinguishment of debt — 213 910
Reinsurance (gain) loss on disposition in 2014 and 2013, goodwill impairment of $342 in 2012
and premium deficiency of $191 in 2012 (23) 1,574 533
Interest expense 376 397 457
   
   
Income tax expense (benefit) 350 246 (309)
   
Loss from discontinued operations, net of tax (551) (1,049) (258)
      
Preferred stock dividends — 10 42
      
Income from continuing operations, net of tax, available to common shareholders per common
share
      
      
Net income (loss) available to common shareholders per common share
      
      
      
See Notes to Consolidated Financial Statements.
F-3