Travelers 2007 Annual Report Download - page 226

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
12. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)
As discussed in note 1, the Company adopted the provisions of FAS 158, Employers’ Accounting for
Defined Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements No. 87, 88,
106 and 132(R) at December 31, 2006.
The incremental effects of applying FAS 158 on individual line items of the Company’s balance
sheet at December 31, 2006 were as follows:
Before After
Application of Application of
(in millions) FAS 158 Adjustments FAS 158
Deferred tax asset ................................. $ 1,493 $ 43 $ 1,536
Other assets ..................................... 2,742 (155) 2,587
Total assets ...................................... 113,873 (112) 113,761
Other liabilities ................................... 6,674 (32) 6,642
Total liabilities ................................... 88,658 (32) 88,626
Accumulated other changes in equity from nonowner sources . 532 (80) 452
Total shareholders’ equity ........................... 25,215 (80) 25,135
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