Travelers 2005 Annual Report Download - page 229
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THE ST. PAUL TRAVELERS COMPANIES, INC.AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
217
22.SELECTED QUARTERLY FINANCIAL DATA (Unaudited)
2005 (in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Total revenues.............................. $ 6,105$ 6 ,037 $ 6,042 $ 6,181 $ 24,365
Total expenses .............................. 4,9174,743 6,050 5,984 21,694
Income (loss) from continuing operations before
income taxes.............................. 1,1881,294 (8 ) 197 2,671
Income tax expense (benefit)................. 311363 (83 ) 19 610
Income from continuingoperations. ........... 877931 75 178 2,061
Income (loss) from discontinued operations .... (665) 13887 1 (439)
Net income ................................. $ 212$ 1 ,069 $ 162 $ 179 $ 1,622
Net income per share:(1)
Basic .................................. $ 0.31 $ 1.59 $ 0.24 $ 0.26 $ 2.39
Diluted ................................ 0.31 1.52 0.23 0.26 2.33
2004 (in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Total revenues ............................... $ 4,127$ 6 ,060 $ 6,129$6,228 $ 22,544
Total expenses ............................... 3,3106,601 5,7655
,922 21,598
Income (loss) from continuing operations before
income taxes and minority interest........... 817(541) 3643
06 946
Income tax expense (benefit).................. 227(239) 48 33 69
Minority interest, net of tax.................... 3— 52 10
Income (loss) from continuing operations....... 587(302) 311271 867
Income from discontinued operations. .......... —272932 88
Net income (loss) ............................ $587 $(275) $340 $303 $ 955
Net income (loss) per share:(1)
Basic ................................... $1.35 $(0.42) $0.51$0.45 $1.56
Diluted ................................. 1.31(0.42) 0.50 0.44 1.53
(1) Due to the averaging of shares, quarterly earnings per share may not add to the total for the full year.
Historical earnings per share data for the first quarter of 2004 were restated to reflect the impact of
the merger with SPC.