Travelers 2004 Annual Report Download - page 224

SCHEDULE II
THE ST. PAUL TRAVELERS COMPANIES, INC.
(Parent Company Only)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(in millions)
CONDENSED STATEMENT OF INCOME (LOSS)
For the period ended December 31,* 2004 2003 2002
Revenues
Net investment income .................................................. $6$2$5
Net realized investment gains (losses) ....................................... (75) ——
Recoveries from former affiliate ........................................... —— 520
Other revenues ......................................................... 38—
Total revenues .................................................... (66) 10 525
Expenses
Interest ............................................................... 99 107 37
Other ................................................................ 52 481
Total expenses ..................................................... 151 111 118
Income (loss) before income taxes and equity in net income of subsidiaries ...... (217) (101) 407
Income tax expense (benefit) .............................................. (72) (36) (44)
Income (loss) before equity in net income of subsidiaries ..................... (145) (65) 451
Equity in net income (loss) of subsidiaries, net of minority interest ................ 1,100 1,761 (478)
Net income (loss) ...................................................... $ 955 $1,696 $ (27)
* Data for 2004 represents results of The St. Paul Travelers Companies, Inc. (parent company only) for the nine-
month period from the merger date of April 1, 2004 through December 31, 2004. Data for prior periods
represents historical data for Travelers Property Casualty Corp. (parent company only) for the twelve months
ended December 31, 2003 and 2002.
The condensed financial statements should be read in conjunction with the consolidated financial statements
and notes thereto.
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