Travelers 2007 Annual Report Download - page 246

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES (Continued)
CONSOLIDATING BALANCE SHEET (Unaudited)
At December 31, 2006
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Assets
Fixed maturities, available for sale at fair value
(including $1,674 subject to securities lending)
(amortized cost $62,244) ................ $39,736 $22,511 $ 419 $ — $ 62,666
Equity securities, at fair value (cost $436) ....... 326 80 67 — 473
Real estate ........................... 8 785 — — 793
Short-term securities ..................... 2,623 1,338 977 — 4,938
Other investments ...................... 2,019 1,270 109 — 3,398
Total investments ..................... 44,712 25,984 1,572 — 72,268
Cash ............................... 325 130 4 — 459
Investment income accrued ................ 501 322 7 (3) 827
Premiums receivable ..................... 3,916 2,265 — — 6,181
Reinsurance recoverables .................. 12,963 4,857 — — 17,820
Ceded unearned premiums ................ 1,013 230 — — 1,243
Deferred acquisition costs ................. 1,323 292 — — 1,615
Deferred tax asset ...................... 1,037 484 15 — 1,536
Contractholder receivables ................. 4,541 2,013 — — 6,554
Goodwill ............................ 2,412 1,026 — — 3,438
Other intangible assets ................... 273 491 — — 764
Investment in subsidiaries ................. — — 26,946 (26,946) —
Other assets .......................... 1,921 589 279 (202) 2,587
Total assets ......................... $74,937 $38,683 $28,823 $(27,151) $115,292
Liabilities
Claims and claim adjustment expense reserves .... $38,752 $20,536 $ — $ — $ 59,288
Unearned premium reserves ............... 7,655 3,573 — — 11,228
Contractholder payables .................. 4,541 2,013 — — 6,554
Payables for reinsurance premiums ........... 284 401 — — 685
Debt ............................... 2,469 155 3,338 (202) 5,760
Other liabilities ........................ 4,449 1,846 350 (3) 6,642
Total liabilities ....................... 58,150 28,524 3,688 (205) 90,157
Shareholders’ equity
Preferred Stock Savings Plan—convertible
preferred stock (0.4 shares issued and
outstanding) ......................... — — 129 — 129
Common stock (1,750.0 shares authorized; 678.3
shares issued and outstanding) ............. — 745 18,530 (745) 18,530
Additional paid-in capital ................. 9,910 7,711 — (17,621) —
Retained earnings ...................... 6,472 1,618 7,253 (8,090) 7,253
Accumulated other changes in equity from
nonowner sources ..................... 405 85 452 (490) 452
Treasury stock, at cost (25.2 shares) ........... — — (1,229) — (1,229)
Total shareholders’ equity ................ 16,787 10,159 25,135 (26,946) 25,135
Total liabilities and shareholders’ equity ...... $74,937 $38,683 $28,823 $(27,151) $115,292
(1) The Travelers Companies, Inc., excluding its subsidiaries.
234