The Hartford 2012 Annual Report Download - page 143

Table of Contents

Consolidated Statements of Operations

(In millions, except for per share data)   
Revenues
Earned premiums $ 13,631 $ 14,088 $14,055
Fee income 4,432 4,750 4,748
Net investment income:
Securities available-for-sale and other 4,237 4,272 4,364
Equity securities, trading 4,565 (1,359)(774)
Total net investment income 8,802 2,913 3,590
Net realized capital gains (losses):
Total other-than-temporary impairment (“OTTI”) losses (389)(263) (852)
OTTI losses recognized in other comprehensive income (“OCI”) 40 89 418
Net OTTI losses recognized in earnings (349)(174)(434)
Net realized capital gains (losses), excluding net OTTI losses recognized in earnings (362)29 (177)
Total net realized capital losses (711)(145)(611)
Other revenues 258 253 267
   
Benefits, losses and expenses
Benefits, losses and loss adjustment expenses 13,250 14,625 13,025
Benefits, losses and loss adjustment expenses — returns credited on international
variable annuities 4,564 (1,359)(774)
Amortization of deferred policy acquisition costs and present value of future profits 1,988 2,444 1,692
Insurance operating costs and other expenses 5,237 5,310 5,326
Loss on extinguishment of debt 910 — —
Reinsurance loss on disposition, including goodwill impairment of $342 533 — —
Interest expense 457 508 508
Goodwill impairment —30 —
   
  
Income tax expense (benefit) (494)(325)572
  
Income (loss) from discontinued operations, net of tax (5) 86 (64)
     
Preferred stock dividends 42 42 515
     
Income from continuing operations, net of tax, available to common
shareholders per common share
     
     
Net income (loss) available to common shareholders per common share
     
    
Cash dividends declared per common share $0.40 $0.40 $0.20
See Notes to Consolidated Financial Statements.
F-3