Travelers 2007 Annual Report Download - page 263

SCHEDULE II
THE TRAVELERS COMPANIES, INC.
(Parent Company Only)
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(in millions)
CONDENSED STATEMENT OF INCOME
For the year ended December 31, 2007 2006 2005
Revenues
Net investment income ....................................... $78$ 103 $ 21
Net realized investment gains (losses) ............................. 17 (24) 3
Other revenues ............................................. 12 54 11
Total revenues ............................................ 107 133 35
Expenses
Interest .................................................. 245 186 146
Other .................................................... 65 55 32
Total expenses ............................................ 310 241 178
Loss before income taxes and equity in net income of subsidiaries ........ (203) (108) (143)
Income tax benefit .......................................... (47) (37) (27)
Loss before equity in net income of subsidiaries ..................... (156) (71) (116)
Equity in net income of subsidiaries .............................. 4,757 4,279 2,215
Income before discontinued operations ............................ 4,601 4,208 2,099
Discontinued operations ...................................... —— (477)
Net income ................................................ $4,601 $4,208 $1,622
The condensed financial statements should be read in conjunction with the consolidated financial
statements and notes thereto.
251