Travelers 2006 Annual Report Download - page 251

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 BALANCE SHEET (Unaudited)
At December 31, 2005
(in millions) TPC
Other
Subsidiaries Travelers(1) Eliminations Consolidated
Assets
Fixed maturities, available for sale at fair
value (including $2,667 subject to securities
lending) (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
Short-term securities ..................... 2,142 1,551 1,109 — 4,802
Other investments....................... 1,808 1,273 90 — 3,171
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 ) $ 113,187
Liabilities
Claims and claim adjustment expense
reserves.............................. $41,213 $19,877 $ —$ — $ 61,090
Unearned premium reserves............... 7,418 3,509 —— 10,927
Contractholder payables .................. 4,422 1,094 —— 5,516
Payables for reinsurance premiums ......... 282 438 ——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;
693.4 shares issued and outstanding) ...... (24)745 18,096 (721 ) 18,096
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)
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 ) $ 113,187
(1) The Travelers Companies, Inc., excluding its subsidiaries.