Travelers 2008 Annual Report Download - page 168

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share data)
For the year ended December 31, 2008 2007 2006
Revenues
Premiums .............................................. $21,579 $21,470 $20,760
Net investment income ..................................... 2,792 3,761 3,517
Fee income ............................................. 390 508 591
Net realized investment gains (losses) .......................... (415) 154 11
Other revenues .......................................... 131 124 211
Total revenues ........................................ 24,477 26,017 25,090
Claims and expenses
Claims and claim adjustment expenses .......................... 12,993 12,397 12,244
Amortization of deferred acquisition costs ....................... 3,880 3,706 3,339
General and administrative expenses ........................... 3,518 3,352 3,458
Interest expense .......................................... 370 346 324
Total claims and expenses ............................... 20,761 19,801 19,365
Income before income taxes ................................ 3,716 6,216 5,725
Income tax expense ....................................... 792 1,615 1,517
Net income ............................................ $ 2,924 $ 4,601 $ 4,208
Net income per share
Basic ................................................ $ 4.90 $ 7.04 $ 6.12
Diluted .............................................. $ 4.82 $ 6.86 $ 5.91
Weighted average number of common shares outstanding
Basic ................................................ 596.4 652.7 687.1
Diluted .............................................. 607.3 672.3 716.7
See notes to consolidated financial statements.
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