The Hartford 2010 Annual Report Download - page 227

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 2010 2009 2008
Operating Activities
Net income (loss) $ 1,680 $ (887) $ (2,749)
Undistributed earnings (losses) of subsidiaries (1,004) 1,307 (4,766)
Change in operating assets and liabilities (21) (590) 9,372
Cash provided by (used for) operating activities 655 (170) 1,857
Investing Activities
Net sales (purchases) of short-term investments 233 (412) (892)
Purchase price of business acquired — (10) —
Capital contributions to subsidiaries (311) (3,115) (2,300)
Cash used for investing activities (78) (3,537)
(3,192)
Financing Activities
Issuance of long-term debt 1,090 — 2,670
Repayments at maturity of long-term debt (275) — (955)
Change in commercial paper — (375) —
Net proceeds from issuance of mandatory convertible preferred stock 556 — —
Net proceeds from issuance of common shares under public offering 1,600 — —
Issuance of convertible preferred shares — — 727
Issuance of warrants — — 512
Proceeds from net issuance of preferred stock and warrants to U.S. Treasury — 3,400 —
Redemption of preferred stock issued to the U.S. Treasury (3,400) — —
Net proceeds from issuance of common shares under discretionary equity issuance
plan — 887 —
Proceeds from net issuances of common shares under incentive and stock
compensation plans and excess tax benefits 22 17 41
Treasury stock acquired — — (1,000)
Dividends paid – Preferred shares (85) (73) —
Dividends paid – Common Shares (85) (149) (660)
Cash provided by (used for) financing activities (577) 3,707
1,335
Net change in cash — — —
Cash – beginning of year — — —
Cash – end of year $ — $ — $ —
Supplemental Disclosure of Cash Flow Information
Interest Paid $ 465 $ 454 $ 265
Dividends Received from Subsidiaries $ 1,006 $ 243 $ 2,279
The condensed financial statements should be read in conjunction with
the consolidated financial statements and notes thereto.