Schedule II Condensed Financial Information of the Hartford Financial Services, Inc.

12 Months Ended

Dec. 31, 2023

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

SCHEDULE II

CONDENSED FINANCIAL INFORMATION OF THE HARTFORD FINANCIAL SERVICES GROUP, INC.

(Registrant)

(in millions)


	As of December 31,
Condensed Balance Sheets	2023		2022
Assets
Fixed maturities, available-for-sale, at fair value (amortized cost of $29 and $126)	$	24	$	120


Short-term investments	1,040		832
Cash	—		—
Investment in affiliates	20,261		18,610
Deferred income taxes	439		395
Unamortized issue costs	2		2
Investment income due and accrued	—		1
Other assets	400		466
Total assets	$	22,166	$	20,426
Liabilities
Net payable to affiliates	$	1,918	$	1,863

Long-term debt	4,362		4,357
Other liabilities	559		530
Total liabilities	6,839		6,750
Stockholders’ Equity
Preferred stock	$	334	$	334
Common stock	3		3
Additional paid-in capital	648		1,895
Retained Earnings	19,007		17,058
Treasury Stock	(1,816)		(1,773)
Accumulated other comprehensive income (loss), net of tax	(2,849)		(3,841)
Total stockholders’ equity	15,327		13,676
Total liabilities and stockholders’ equity	$	22,166	$	20,426

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.

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 Operations and Comprehensive Income (Loss)	2023		2022		2021
Net investment income	$	33	$	13	$	2
Net realized gains (losses)	—		—		(1)
Total revenues	33		13		1
Interest expense	199		213		234
Loss on extinguishment of debt	—		9		—

Other expense (income)	7		(8)		(2)
Total expenses	206		214		232
Loss before income taxes and earnings of subsidiaries	(173)		(201)		(231)
Income tax benefit	(67)		(61)		(51)
Loss before earnings of subsidiaries	(106)		(140)		(180)
Earnings of subsidiaries	2,610		1,959		2,551
Net income	2,504		1,819		2,371
Other comprehensive income (loss) - parent company:
Change in net gain or loss on cash-flow hedging instruments	(7)		45		24
Change in net unrealized gain or loss on fixed maturities	1		(4)		(1)
Change in pension and other postretirement plan adjustments	(89)		119		224
Other comprehensive income (loss), net of taxes before other comprehensive income of subsidiaries	(95)		160		247
Other comprehensive income (loss) of subsidiaries	1,087		(4,129)		(1,224)
Total other comprehensive income (loss)	992		(3,969)		(977)
Total comprehensive income (loss)	$	3,496	$	(2,150)	$	1,394

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.

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	2023		2022		2021
Operating Activities
Net income	$	2,504	$	1,819	$	2,371
Loss on extinguishment of debt	—		9		—
Dividends received from subsidiaries	1,594		1,780		1,277
Equity in net income of subsidiaries	(2,610)		(1,959)		(2,551)
Net realized losses (gains)	—		—		1
Change in operating assets and liabilities	75		61		36
Cash provided by operating activities	1,563		1,710		1,134
Investing Activities
Net proceeds from (payments for) short-term investments	(208)		899		(54)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	97		47		25

Payments for the purchase of:
Fixed maturities, available-for-sale	—		—		(74)
Equity securities, at fair value	—		(5)		—
Net payments for derivatives	(8)		55		38


Capital returned from (contributions to) subsidiaries	503		(6)		530
Cash provided by investing activities	384		990		465
Financing Activities
Proceeds from issuance of debt	—		—		588
Repayments of debt	—		(600)		—

Treasury stock acquired	(1,400)		(1,550)		(1,702)
Net issuance (return of) shares under incentive and stock compensation plans	6		(19)		25
Dividends paid on common shares	(532)		(510)		(489)
Dividends paid on preferred shares	(21)		(21)		(21)
Cash used for financing activities	(1,947)		(2,700)		(1,599)
Net increase (decrease) in cash	—		—		—
Cash — beginning of period	—		—		—
Cash — end of period	$	—	$	—	$	—
Supplemental Disclosure of Cash Flow Information
Interest Paid	$	209	$	212	$	214

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.