Travelers 2008 Annual Report Download - page 252

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
17. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES (Continued)
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2008
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Revenues
Premiums ........................ $14,500 $7,079 $ — $ — $21,579
Net investment income .............. 1,774 966 52 — 2,792
Fee income ....................... 389 1 — — 390
Net realized investment gains (losses) .... (393) (49) 27 — (415)
Other revenues .................... 90 41 5 (5) 131
Total revenues ................... 16,360 8,038 84 (5) 24,477
Claims and expenses
Claims and claim adjustment expenses . . . 8,543 4,450 — — 12,993
Amortization of deferred acquisition costs . 2,638 1,242 — — 3,880
General and administrative expenses ..... 2,397 1,089 32 — 3,518
Interest expense ................... 74 4 297 (5) 370
Total claims and expenses .......... 13,652 6,785 329 (5) 20,761
Income (loss) before income taxes ..... 2,708 1,253 (245) — 3,716
Income tax expense ................. 610 169 13 — 792
Equity in net income of subsidiaries ..... — — 3,182 (3,182) —
Net income ..................... $ 2,098 $1,084 $2,924 $(3,182) $ 2,924
(1) The Travelers Companies, Inc., excluding its subsidiaries.
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