Discontinued Operations

12 Months Ended

Dec. 31, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On December 10, 2012, HLA received regulatory approval to reorganize its Mutual Funds business for the purpose of streamlining the business by consolidating the entities that provide services to the Mutual Funds business under a subsidiary of HLI, thereby separating its Mutual Funds business from its insurance business. Following the reorganization, the Company will no longer have any significant continuing involvement in HLI's Mutual Funds business. For further discussion of the reorganization of the Mutual Funds business, see Note 1 - Basis of Presentation and Significant Accounting Policies and Note 7 - Goodwill of Notes to Consolidated Financial Statements.

During the fourth quarter of 2010, the Company completed the sales of its indirect wholly-owned subsidiaries Hartford Investments Canada Corporation (“HICC”) and Hartford Advantage Investment, Ltd. (“HAIL”). The Company recognized a net realized capital gain of $41, after-tax, on the sale of HICC and a net realized capital loss of $4, after-tax, on the sale of HAIL.

The following table presents the combined amounts related to the operations of the Mutual Funds business, HICC and HAIL which are being reported as discontinued operations in the Consolidated Statements of Operations. The Company does not expect these transactions to have a material impact on the Company’s future earnings.

	For the years ended December 31,
	2012			2011		2010
Revenues
Fee income and other	$	526		$	569	$	616
Net investment income (loss)	—			1		(1		)
Net realized capital gains	—			1		—
Total revenues	526			571		615
Benefits, losses and expenses
Insurance operating costs and other expenses	384			374		413
Amortization of DAC	35			47		68
Goodwill impairment	149			—		—
Total benefits, losses and expenses	568			421		481
Income (loss) before income taxes	(42		)	150		134
Income tax expense (benefit)	(13		)	52		48
Income (loss) from operations of discontinued operations, net of tax	(29		)	98		86
Net realized capital gain on disposal, net of tax	—			—		37
Income (loss) from discontinued operations, net of tax	$	(29	)	$	98	$	123