The Hartford 2007 Annual Report Download - page 258

S-3
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
SCHEDULE II
CONDENSED FINANCIAL INFORMATION OF
THE HARTFORD FINANCIAL SERVICES GROUP, INC. (continued)
(Registrant)
(In millions) For the years ended December 31,
Condensed Statements of Cash Flows 2007 2006 2005
Operating Activities
Net income $ 2,949 $ 2,745 $ 2,274
Undistributed earnings of subsidiaries (1,422) (2,366) (1,904)
Change in operating assets and liabilities 18 (74) (304)
Cash provided by operating activities 1,545 305 66
Investing Activities
Net sale (purchase) of short-term investments (76) (292) 63
Capital contributions to subsidiaries (127) (527) (22)
Cash provided by (used for) investing activities (203) (819) 41
Financing Activities
Issuance of shares from equity unit contracts — 1,020 —
Issuance of long-term debt 495 990 —
Repayment/maturity of long-term debt (300) (1,015) (250)
Change in short-term debt 75 (173) 100
Proceeds from issuances of shares under incentive and
stock compensation plans, net 186 147 390
Treasury stock acquired (1,193) — —
Return of shares to treasury stock under incentive and
stock compensation plans to treasury stock (14) (5) (2)
Excess tax benefits on stock-based compensation 45 10 —
Dividends paid (636) (460) (345)
Cash provided by (used for) financing activities (1,342) 514 (107)
Net change in cash — — —
Cash – beginning of year — — —
Cash – end of year $ — $ — $ —
Supplemental Disclosure of Cash Flow Information
Interest Paid $ 239 $ 198 $ 170
Dividends Received from Subsidiaries $ 1,668 $ 441 $ 454
The condensed financial statements should be read in conjunction with
the consolidated financial statements and notes thereto.