HANOVER INSURANCE GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
THG$250.21+2.0%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (In millions) | 2024 | 2023 |
| Cash Flows From Operating Activities | ||
| Net income (loss) | $115.5 | $(12.0) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Net realized and unrealized investment (gains) losses | (5.5) | 22.8 |
| Net amortization and depreciation | 0.8 | 2.2 |
| Stock-based compensation expense | 6.7 | 7.1 |
| Amortization of defined benefit plan costs | 1.7 | 2.0 |
| Deferred income tax expense (benefit) | 1.1 | (7.7) |
| Change in deferred acquisition costs | 1.5 | 7.0 |
| Change in premiums receivable, net of reinsurance premiums payable | (36.6) | 6.8 |
| Change in loss, loss adjustment expense and unearned premium reserves | 24.9 | 145.6 |
| Change in reinsurance recoverable | 56.3 | (8.2) |
| Change in expenses and taxes payable | (89.6) | (114.0) |
| Other, net | (18.1) | (33.5) |
| Net cash provided by operating activities | 58.7 | 18.1 |
| Cash Flows From Investing Activities | ||
| Proceeds from disposals and maturities of fixed maturities | 213.8 | 171.7 |
| Proceeds from disposals of equity securities and other investments | 17.9 | 7.8 |
| Purchase of fixed maturities | (289.5) | (259.2) |
| Purchase of equity securities and other investments | (14.4) | (23.3) |
| Capital expenditures | (2.6) | (3.5) |
| Net cash used in investing activities | (74.8) | (106.5) |
| Cash Flows From Financing Activities | ||
| Proceeds from exercise of employee stock options | 4.2 | 3.0 |
| Dividends paid to shareholders | (30.5) | (28.9) |
| Other financing activities | (9.1) | (9.2) |
| Net cash used in financing activities | (35.4) | (35.1) |
| Net change in cash and cash equivalents | (51.5) | (123.5) |
| Cash and cash equivalents, beginning of period | 316.1 | 305.0 |
| Cash and cash equivalents, end of period | $264.6 | $181.5 |
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