Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1148

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1C
Chunk 1148
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 yield based on single-A credit rated fixed maturity instruments with similar duration to the liability. The Company uses the yield of a market observable index of single-A credit rated fixed maturities as the basis for setting the discount rate. The discount rate assumption is updated quarterly and the change in the reserve estimate resulting from updating the discount rate assumption is recognized in other comprehensive income.Treasury StockTreasury stock is the cost of common stock repurchased, which includes the purchase price of shares acquired and direct costs to acquire shares, including commissions and excise taxes. Issuance and retirement of treasury stock is recognized at the average cost of shares held in treasury.Foreign CurrencyForeign currency translation gains and losses are reflected in stockholders’ equity as a component of AOCI. The Company’s foreign subsidiaries’ balance sheet accounts are translated at the exchange rates in effect at each year end and income statement accounts are translated at the average rates of exchange prevailing during the year. The national currencies of the international operations are generally their functional currencies; however, the U.S. dollar is the functional currency of Lloyd's Syndicate 1221 ("Lloyd's Syndicate"), for which the Company is the sole corporate member. Gains and losses resulting from the remeasurement of foreign currency transactions are reflected in earnings in net realized gains (losses) in the period in which they occur.

2. EARNINGS PER COMMON SHARE Computation of Basic and Diluted Earnings per Common Share For the years ended December 31,(In millions, except for per share data)202420232022Earnings   Net income$3,111 $2,504 $1,819 Less: Preferred stock dividends 21 21 21 Net income available to common stockholders$3,090 $2,483 $1,798 Shares   Weighted average common shares outstanding, basic293.9 307.1 324.8 Dilutive effect of stock-based awards under compensation plans4.7 4.4 4.7 Weighted average common shares outstanding and dilutive potential common shares [1]298.6 311.5 329.5 Net income available to common stockholders per common share   Basic$10.51 $8.09 $5.54     Diluted$10.35 $7.97 $5.46 [1]For additional information, see Note 15 - Equity and Note 19 - Stock Compensation Plans.Basic