Travelers 2006 Annual Report Download - page 268

The condensed financial statements should be read in conjunction with the consolidated financial
statements and notes thereto.
256
SCHEDULE II
THE TRAVELERS COMPANIES, INC.
(Parent Company Only)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(in millions)
CONDENSED STATEMENT OF INCOME (LOSS)
For the period ended December 31,*2006 2005 2004
Revenues
Net investment income............................................... $ 103 $ 21 $ 6
Net realized investment gains (losses) .................................. (24)3 (75)
Other revenues ...................................................... 54 11 3
Total revenues .................................................... 133 35 (66)
Expenses
Interest............................................................. 186 146 99
Other.............................................................. 55 32 52
Total expenses .................................................... 241 178 151
Loss before income taxes and equity in net income of subsidiaries ......... (108)(143 ) (217)
Income tax benefit ................................................... (37)(27) (72)
Loss before equity innet income of subsidiaries ......................... (71)(116 ) (145)
Equity in net income of subsidiaries, net of minority interest.............. 4,279 2,215 1,027
Income before discontinued operations ................................. 4,208 2,099 882
Discontinued operations.............................................. — (477 ) 73
Net income.......................................................... $4,208 $1,622 $ 955
*Data for 2006 and 2005 represents results of The Travelers Companies, Inc. (parent company only)
for the years ended December 31, 2006 and 2005. Data for 2004 represents results of The Travelers
Companies, Inc. (parent company only) for the nine-month period from the merger date of April 1,
2004 through December 31, 2004.