Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1865

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 3
Chunk 1865
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 is not mandatorily redeemable. For the years ended December 31, 2024, 2023 and 2022, the Company repurchased $10, $11 and $10, respectively, in subsidiary stock.Employee Stock Purchase PlanThe Company sponsors The Hartford Employee Stock Purchase Plan ("ESPP"). Under this plan, eligible employees of The Hartford purchase common stock of the Company at a discount rate of 5% of the market price per share on the last trading day of the offering period. Accordingly, the plan is a non-compensatory plan. Employees purchase a variable number of shares of stock through payroll deductions elected as of the beginning of the offering period. The Company may sell up to 15,400,000 shares of stock to eligible employees under the ESPP. As of December 31, 2024, there were 3,014,109 shares available for future issuance. During the years ended December 31, 2024, 2023 and 2022, 141,500 shares, 194,561 shares, and 194,504 shares were sold, respectively. For the years ended December 31, 2024, 2023 and 2022, The Hartford received $14, $13 and $13, respectively, in cash from sales under this plan. 

20. LEASES The Hartford has operating leases for real estate and equipment. The right-of-use asset as of December 31, 2024 and 2023 was $140 and $141, respectively, and is included in property and equipment, net, in the Consolidated Balance Sheets. The lease liability as of December 31, 2024 and 2023 was $145 and $144, respectively, and is included in other liabilities in the Consolidated Balance Sheets. Variable lease costs include changes in interest rates on variable rate leases primarily for automobiles. During the years ended December 31, 2024, 2023 and 2022, variable lease costs of $0, $0 and $6, respectively, were reported in restructuring and other costs for lease terminations under Hartford Next (see Note 21 - Restructuring and Other Costs for more information), and were excluded from components of lease expense.Components of Lease ExpenseFor the years ended December 31,202420232022Operating lease cost$35 $36 $40 Short-term lease cost1 — — Variable lease cost1 (2)— Sublease income(3)(4)(4