Travelers 2005 Annual Report Download - page 225

THE ST. PAUL TRAVELERS COMPANIES, INC.AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
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21. CONSOLIDATING FINANCIAL STATEMENTS O F THE ST. PAUL TRAVELERS
COMPANIES, INC. AND SUBSIDIARIES (Continued)
CONSOLIDATING BALANCE SHEET (Unaudited)
At December 31, 2005
(in millions) TPC
Other
Subsidiaries
St. Paul
Travelers(1) Eliminations Consolidated
Assets
Fixed maturities, available for sale at fair value (including $2,667
subject to securities lending and repurchase agreements)
(amortized cost $58,616)................................. $ 37,582 $ 20,957 $ 444 $ — $ 58,983
Equity securities, at fair value (cost $538)..................... 435 86 58 — 579
Real estate .............................................. 7745 — — 752
Mortgage loans. .......................................... 107 38 —— 145
Short-term securities ...................................... 2,142 1,551 1,109 — 4,802
Other investments........................................ 1,701 1,235 90 — 3,026
Total investments .................................... 41,974 24,612 1,701 — 68,287
Cash. ................................................... 136 200 1 — 337
Investment income accrued ................................ 471 286 7 (3 ) 761
Premiums receivable ...................................... 3,843 2,281 — — 6,124
Reinsurance recoverables.................................. 14,966 4,608 — — 19,574
Ceded unearned premiums................................. 1,000 322 — — 1,322
Deferred acquisition costs.................................. 1,218 309 — — 1,527
Deferred tax asset ........................................ 1,330 581 151 — 2,062
Contractholder receivables................................. 4,422 1,094 — — 5,516
Goodwill ................................................ 2,412 1,030 — — 3,442
Intangible assets. ......................................... 316 601 — — 917
Investment in subsidiaries.................................. ——23,708 (23,708 )—
Other assets............................................. 2,292 743 478 (195 ) 3,318
Total assets ......................................... $ 74,380 $ 36,667 $ 26,046 $ (23,906 )$ 1 13,187
Liabilities
Claims and claim adjustment expense reserves................ $41,213 $19,877 $ — $ — $ 61,090
Unearned premiumreserves............................... 7,418 3,509 — — 10,927
Contractholder payables ................................... 4,422 1,094 — — 5,516
Payables for reinsurance premiums .......................... 282438 — — 720
Debt.................................................... 2,623 147 3,272 (192 ) 5,850
Other liabilities .......................................... 4,297 2,017 471 (4 ) 6,781
Total liabilities ...................................... 60,255 27,082 3,743 (196 ) 90,884
Shareholders’ equity
Preferred stock:
Savings Plan—convertible preferred stock (0.5 shares issued
and outstanding) ..................................... —— 153 — 153
Common stock (1,750.0 shares authorized; 694.6 shares issued;
693.4 shares outstanding) ................................ —745 18,179 (745 ) 18,179
Additional paid-in capital .................................. 9,916 7,724 — (17,640 )—
Retained earnings ........................................ 3,835 1,154 3,750 (4,989 ) 3,750
Accumulated other changes in equity from nonowner sources.... 398 (38) 351 (360 )351
Treasury stock,at cost (1.2 shares) .......................... —— (47) — (47)
Unearned compensation................................... (24) —(83) 24 (83)
Total shareholders’ equity ............................. 14,125 9,585 22,303 (23,710 )22,303
Total liabilities and shareholders’ equity................. $ 74,380 $ 36,667 $ 26,046 $ (23,906 )$ 1 13,187
(1) The St. Paul Travelers Companies, Inc., excluding its subsidiaries.