XML 71 R24.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Restructuring and Related Activities | 9 Months Ended
--- | ---
Sep. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure | 17. RESTRUCTURING AND OTHER COSTS In recognition of the need to become more cost efficient and competitive along with enhancing the experience we provide to agents and customers, on July 30, 2020 the Company announced an operational transformation and cost reduction plan it refers to as Hartford Next. Hartford Next is intended to reduce annual insurance operating costs and other expenses through reduction of the Company's headcount, investment in information technology ("IT") to further enhance our capabilities, and other activities. The activities are expected to be substantially complete by the end of 2023. Termination benefits related to workforce reductions and professional fees are included within restructuring and other costs in the Condensed Consolidated Statement of Operations and unpaid restructuring costs are included in other liabilities in the September 30, 2022 and December 31, 2021 Condensed Consolidated Balance Sheets. Subsequent to September 30, 2022, the Company expects to incur additional costs including amortization of right of use assets and other lease exit costs, other IT costs to retire applications and other expenses. Total restructuring and other costs are expected to be approximately $127, before tax, and will be recognized in Corporate for segment reporting. The estimated restructuring and other costs for future periods do not include all costs associated with the real estate consolidation plan as those plans are still being finalized.
Restructuring and Other Costs, Before Tax |  |
| Incurred in the Three Months Ended September 30, |  | Incurred in the Nine Months Ended September 30, |  | Cumulative Incurred Through September 30, 2022 |  |  | Total Amount Expected to be Incurred |  |
| 2022 | 2021 |  | 2022 | 2021 |  |  |  |  |
Severance benefits | $ | — |  | $ | (15) |  |  | $ | (7) |  | $ | (24) |  |  | $ | 41 |  |  |  | $ | 41 |  |  |
IT costs | 1 |  | 2 |  |  | 6 |  | 6 |  |  | 17 |  |  |  | 26 |  |  |
Professional fees and other expenses | 2 |  | 1 |  |  | 11 |  | 17 |  |  | 57 |  |  |  | 60 |  |  |
Total restructuring and other costs, before tax | $ | 3 |  | $ | (12) |  |  | $ | 10 |  | $ | (1) |  |  | $ | 115 |  |  |  | $ | 127 |  |  |
Accrued Restructuring and Other Costs |
| Nine Months Ended September 30, 2022 |
| Severance Benefits and Related Costs | IT Costs | Professional Fees and Other |  | Total Restructuring and Other Costs Liability |
Balance, beginning of period | $ | 18 |  | $ | — |  | $ | — |  |  | $ | 18 |  |
Incurred | (7) |  | 6 |  | 11 |  |  | 10 |  |
Payments | (4) |  | (6) |  | (11) |  |  | (21) |  |
Balance, end of period | $ | 7 |  | $ | — |  | $ | — |  |  | $ | 7 |  |
Accrued Restructuring and Other Costs |
| Nine Months Ended September 30, 2021 |
| Severance Benefits and Related Costs | IT Costs | Professional Fees and Other |  | Total Restructuring and Other Costs Liability |
Balance, beginning of period | $ | 54 |  | $ | — |  | $ | — |  |  | $ | 54 |  |
Incurred | (24) |  | 6 |  | 17 |  |  | (1) |  |
Payments | (10) |  | (6) |  | (17) |  |  | (33) |  |
Balance, end of period | $ | 20 |  | $ | — |  | $ | — |  |  | $ | 20 |  |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration