Travelers 2006 Annual Report Download - page 247

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
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21. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES (Continued)
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2006
(in millions) TPC
Other
Subsidiaries Travelers(1) Eliminat ionsConsolidated
Revenues
Premiums........................... $13,861$ 6 ,899$—$— $ 20,760
Net investment income ............... 2,357 1,059 103(2) 3,517
Fee income ......................... 5892 ——591
Net realized investment gains (losses) .. (11) 46 (24) — 11
Other revenues ...................... 1046454(11)211
Total revenues .................... 16,900 8,070 133(13) 25,090
Claims and expenses
Claims and claim adjustment expenses. .8,116 4,128 — — 12,244
Amortization of deferred acquisition
costs............................. 2,228 1,111 — — 3,339
General and administrative expenses ...2,286 1,128 55 (11) 3,458
Interest expense ..................... 140— 186(2) 324
Total claims and expenses .......... 12,770 6,367 241(13) 19,365
Income before income taxes ........... 4,130 1,703 (108)— 5,725
Income tax expense .................. 1,118436 (37) —1,517
Equity in earnings of subsidiaries, net
of tax............................. ——4,279(4,279) —
Net income.......................... $3,012 $ 1 ,267 $4,208$(4,279) $ 4,208
(1) The Travelers Companies, Inc., excluding its subsidiaries.