Travelers 2008 Annual Report Download - page 169

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in millions)
At December 31, 2008 2007
Assets
Fixed maturities, available for sale at fair value (including $8 and $1,988 subject
to securities lending) (amortized cost $61,569 and $64,152) ............... $ 61,275 $ 64,920
Equity securities, at fair value (cost $461 and $473) ...................... 379 488
Real estate ................................................... 827 850
Short-term securities ............................................ 5,222 5,186
Other investments .............................................. 3,035 3,374
Total investments ........................................... 70,738 74,818
Cash ........................................................ 350 271
Investment income accrued ....................................... 823 861
Premiums receivable ............................................ 5,954 6,142
Reinsurance recoverables ......................................... 14,232 15,641
Ceded unearned premiums ........................................ 941 1,123
Deferred acquisition costs ........................................ 1,774 1,809
Deferred tax asset .............................................. 1,965 1,207
Contractholder receivables ........................................ 6,350 6,696
Goodwill ..................................................... 3,366 3,366
Other intangible assets ........................................... 688 814
Other assets .................................................. 2,570 2,476
Total assets ............................................... $109,751 $115,224
Liabilities
Claims and claim adjustment expense reserves .......................... $ 54,723 $ 57,700
Unearned premium reserves ....................................... 10,957 11,227
Contractholder payables .......................................... 6,350 6,696
Payables for reinsurance premiums .................................. 528 618
Debt ........................................................ 6,181 6,242
Other liabilities ................................................ 5,693 6,125
Total liabilities ............................................. 84,432 88,608
Shareholders’ equity
Preferred Stock Savings Plan—convertible preferred stock (0.3 shares issued and
outstanding at both dates) ....................................... 89 112
Common stock (1,750.0 shares authorized; 585.1 and 627.8 shares issued and
outstanding) ................................................. 19,242 18,990
Retained earnings .............................................. 13,314 11,110
Accumulated other changes in equity from nonowner sources ............... (900) 670
Treasury stock, at cost (128.8 and 82.9 shares) .......................... (6,426) (4,266)
Total shareholders’ equity ..................................... 25,319 26,616
Total liabilities and shareholders’ equity .......................... $109,751 $115,224
See notes to consolidated financial statements.
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