# Hartford Insurance Group, Inc.: Form 10-Q for the period ended Sep 30, 2022 - Company: [Hartford Insurance Group, Inc.](/companies/hig.md) (CIK 874766) - Form: 10-Q - Filed: 2022-10-27 - Accepted by EDGAR: Oct 27, 2022, 16:21 ET - Period: 2022-09-30 - Accession: 0000874766-22-000102 - Inline XBRL: yes - Main document: https://www.sec.gov/Archives/edgar/data/874766/000087476622000102/hig-20220930.htm - All documents and exhibits: https://www.sec.gov/Archives/edgar/data/874766/000087476622000102/ ## Figures reported in this filing Standardized XBRL line items for the period ended 2022-09-30. | Line item | Period | Value | XBRL concept | | --- | --- | ---: | --- | | Revenue | 3 months, 2022-07-01 to 2022-09-30 | $348.0m | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | | Revenue | 9 months, 2022-01-01 to 2022-09-30 | $1.09bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | | Selling, general and administrative | 3 months, 2022-07-01 to 2022-09-30 | $1.20bn | us-gaap:SellingGeneralAndAdministrativeExpense | | Selling, general and administrative | 9 months, 2022-01-01 to 2022-09-30 | $3.63bn | us-gaap:SellingGeneralAndAdministrativeExpense | | Interest expense | 3 months, 2022-07-01 to 2022-09-30 | $50.0m | us-gaap:InterestExpense | | Interest expense | 9 months, 2022-01-01 to 2022-09-30 | $163.0m | us-gaap:InterestExpense | | Income tax | 3 months, 2022-07-01 to 2022-09-30 | $92.0m | us-gaap:IncomeTaxExpenseBenefit | | Income tax | 9 months, 2022-01-01 to 2022-09-30 | $300.0m | us-gaap:IncomeTaxExpenseBenefit | | Net income | 3 months, 2022-07-01 to 2022-09-30 | $339.0m | us-gaap:NetIncomeLoss | | Net income | 9 months, 2022-01-01 to 2022-09-30 | $1.23bn | us-gaap:NetIncomeLoss | | Diluted EPS | 3 months, 2022-07-01 to 2022-09-30 | $1.02 | us-gaap:EarningsPerShareDiluted | | Diluted EPS | 9 months, 2022-01-01 to 2022-09-30 | $3.65 | us-gaap:EarningsPerShareDiluted | | Basic EPS | 3 months, 2022-07-01 to 2022-09-30 | $1.03 | us-gaap:EarningsPerShareBasic | | Basic EPS | 9 months, 2022-01-01 to 2022-09-30 | $3.70 | us-gaap:EarningsPerShareBasic | | Diluted shares (weighted) | 3 months, 2022-07-01 to 2022-09-30 | 326,300,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding | | Diluted shares (weighted) | 9 months, 2022-01-01 to 2022-09-30 | 331,800,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding | | Operating cash flow | 9 months, 2022-01-01 to 2022-09-30 | $2.92bn | us-gaap:NetCashProvidedByUsedInOperatingActivities | | Capital expenditure | 9 months, 2022-01-01 to 2022-09-30 | $122.0m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | | Dividends paid | 9 months, 2022-01-01 to 2022-09-30 | $383.0m | us-gaap:PaymentsOfDividendsCommonStock | | Share repurchases | 9 months, 2022-01-01 to 2022-09-30 | $1.20bn | us-gaap:PaymentsForRepurchaseOfCommonStock | | Cash and equivalents | at 2022-09-30 | $175.0m | us-gaap:Cash | | Total assets | at 2022-09-30 | $71.80bn | us-gaap:Assets | | Total liabilities | at 2022-09-30 | $58.85bn | us-gaap:Liabilities | | Long-term debt | at 2022-09-30 | $4.36bn | us-gaap:LongTermDebt | | Shareholders' equity | at 2022-09-30 | $12.96bn | us-gaap:StockholdersEquity | ## Management's discussion and analysis As filed, 4,897 characters. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS ### PURCHASES OF EQUITY SECURITIES BY THE ISSUER Repurchases of common stock by the Company during the quarter ended September 30, 2022 are set forth below. During the period from October 1, 2022 to October 26, 2022, the Company repurchased 1.5 million shares for $98. *Repurchases of Common Stock by the Issuer for the Three Months Ended September 30, 2022* *(in millions)* | Period | Total Number of Shares Purchased \[1\] | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs \[2\] | | --- | ---: | ---: | ---: | ---: | | July 1, 2022 - July 31, 2022 | 1,860,590 | $64.15 | 1,850,377 | $329 | | August 1, 2022 - August 31, 2022 | 2,158,032 | $66.03 | 2,143,062 | $3,188 | | September 1, 2022 - September 30, 2022 | 1,361,856 | $66.07 | 1,359,117 | $3,098 | | **Total** | **5,380,478** | **$65.39** | **5,352,556** | | *\[1\]Includes 27,922 shares in net settlement of employee tax withholding obligations related to equity awards under the Company's incentive stock plans, which were not part of publicly announced share repurchase authorizations. The Company paid an average price per share of $64.82 in employee tax withholding obligations related to net share settlements in the three months ended September 30, 2022.* *\[2\]On December 17, 2020, the Board of Directors authorized a new equity repurchase plan for $1.5 billion for the period commencing January 1, 2021 through December 31, 2022. The Board of Directors increased this authorization by $1.0 billion on April 22, 2021 and by $500 on October 28, 2021, bringing the aggregate repurchase authorization to $3.0 billion through December 31, 2022. In addition to the authorization covering the period from January 1, 2021 to December 31, 2022, in July, 2022, the Board of Directors approved a share repurchase authorization for up to $3.0 billion effective from August 1, 2022 to December 31, 2024. The timing of any repurchases is dependent on several factors, including the market price of the Company's securities, the Company's capital position, consideration of the effect of any repurchases on the Company's financial strength or credit ratings, the Company's blackout periods, and other considerations.* EXHIBITS See Exhibits Index on page **113.** ### FOR THE QUARTER ENDED SEPTEMBER 30, 2022 ### FORM 10-Q ### EXHIBITS INDEX | Exhibit No. | Description | Form | File No. | Exhibit No | Filing Date | | ---: | --- | --- | --- | ---: | --- | | **3.01** | Restated Certificate of Incorporation of The Hartford, as filed with the Delaware Secretary of State on October 20, 2014. | 8-K | 001-13958 | 3.01 | 10/20/2014 | | **3.02** | Amended and Restated By-Laws of The Hartford, amended effective December 17, 2020. | 8-K | 001-13958 | 3.1 | 7/21/2016 | | **15.01** | Deloitte & Touche LLP Letter of Awareness.\*\* | | | | | | **31.01** | Certification of Christopher J. Swift pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\*\* | | | | | | **31.02** | Certification of Beth A. Costello pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\*\* | | | | | | **32.01** | Certification of Christopher J. Swift pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\*\* | | | | | | **32.02** | Certification of Beth A. Costello pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\*\* | | | | | | **101.INS** | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | | | | | | **101.SCH** | Inline XBRL Taxonomy Extension Schema.\*\* | | | | | | **101.CAL** | Inline XBRL Taxonomy Extension Calculation Linkbase.\*\* | | | | | | **101.DEF** | Inline XBRL Taxonomy Extension Definition Linkbase.\*\* | | | | | | **101.LAB** | Inline XBRL Taxonomy Extension Label Linkbase.\*\* | | | | | | **101.PRE** | Inline XBRL Taxonomy Extension Presentation Linkbase.\*\* | | | | | | **104** | The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, formatted in Inline XBRL. | | | | | | **\*\*** | Filed with the Securities and Exchange Commission as an exhibit to this report. | | | | | 113 ### SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | | | | | --- | --- | --- | | | | The Hartford Financial Services Group, Inc. | | | | (Registrant) | | Date: | October 27, 2022 | /s/ Scott R. Lewis | | | | Scott R. Lewis | | | | Senior Vice President and Controller | | | | (Chief accounting officer and duly authorized signatory) | 114 ## Risk factors As filed, 727 characters. RISK FACTORS Investing in The Hartford involves risk. In deciding whether to invest in The Hartford, you should carefully consider the risk factors disclosed in Item 1A of Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, (collectively the "Company's Risk Factors" or individually, the "Company's Risk Factor"), which is incorporated herein by reference, any of which could have a significant or material adverse effect on the business, financial condition, operating results or liquidity of The Hartford. This information should be considered carefully together with the other information contained in this report and the other reports and materials filed by The Hartford with the SEC. Filed Oct 27, 2022. Source: SEC EDGAR, the filing index for accession 0000874766-22-000102. Last ingested by Listed: Nov 2, 2026, 19:30 ET. No prices; not investment advice.