The Hartford 2008 Annual Report Download - page 475

Table of Contents
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 2008 2007 2006
Operating Activities
Net income (loss) $ (2,749) $ 2,949 $ 2,745
Undistributed earnings of subsidiaries (4,766) (1,422) (2,366)
Change in operating assets and liabilities 9,372 18 (74)
Cash provided by operating activities 1,857 1,545 305
Investing Activities
Net purchase of short-term investments (892) (76) (292)
Capital contributions to subsidiaries (2,300) (127) (527)
Cash used for investing activities (3,192) (203) (819)
Financing Activities
Issuance of shares from equity unit contracts — — 1,020
Issuance of long-term debt 2,670 495 990
Repayment/maturity of long-term debt (955) (300) (1,015)
Change in short-term debt — 75 (173)
Issuance of convertible preferred shares 727 — —
Issuance of warrants 512 — —
Proceeds from issuances of shares under incentive and stock
compensation plans, net 54 186 147
Treasury stock acquired (1,000) (1,193) —
Return of shares to treasury stock under incentive and stock
compensation plans to treasury stock (18) (14) (5)
Excess tax benefits on stock-based compensation 5 45 10
Dividends paid (660) (636) (460)
Cash provided by financing activities 1,335 (1,342) 514
Net change in cash — — —
Cash — beginning of year — — —
Cash — end of year $ — $ — $ —
Supplemental Disclosure of Cash Flow Information
Interest Paid $ 265 $ 239 $ 198
Dividends Received from Subsidiaries $ 2,279 $ 1,668 $ 441
The condensed financial statements should be read in conjunction with
the consolidated financial statements and notes thereto.
S-3
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009