Travelers 2008 Annual Report Download - page 255

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 BALANCE SHEET (Unaudited)
At December 31, 2008
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Assets
Fixed maturities, available for sale at fair value
(including $8 subject to securities lending)
(amortized cost $61,569) ................ $41,329 $19,635 $ 311 $ — $ 61,275
Equity securities, at fair value (cost $461) ....... 207 128 44 — 379
Real estate ........................... 2 825 — — 827
Short-term securities ..................... 2,213 1,169 1,840 — 5,222
Other investments ...................... 1,987 897 151 — 3,035
Total investments ..................... 45,738 22,654 2,346 — 70,738
Cash ............................... 183 167 — — 350
Investment income accrued ................ 545 274 4 — 823
Premiums receivable ..................... 4,037 1,917 — — 5,954
Reinsurance recoverables .................. 9,417 4,815 — — 14,232
Ceded unearned premiums ................ 806 135 — — 941
Deferred acquisition costs ................. 1,506 268 — — 1,774
Deferred tax asset ...................... 1,319 549 97 — 1,965
Contractholder receivables ................. 4,726 1,624 — — 6,350
Goodwill ............................ 2,412 954 — — 3,366
Other intangible assets ................... 386 302 — — 688
Investment in subsidiaries ................. — — 28,181 (28,181) —
Other assets .......................... 1,873 664 33 — 2,570
Total assets ......................... $72,948 $34,323 $30,661 $(28,181) $109,751
Liabilities
Claims and claim adjustment expense reserves .... $35,810 $18,913 $ — $ — $ 54,723
Unearned premium reserves ............... 7,609 3,348 — — 10,957
Contractholder payables .................. 4,726 1,624 — — 6,350
Payables for reinsurance premiums ........... 283 245 — — 528
Debt ............................... 1,193 9 4,979 — 6,181
Other liabilities ........................ 4,033 1,297 363 — 5,693
Total liabilities ....................... 53,654 25,436 5,342 — 84,432
Shareholders’ equity
Preferred Stock Savings Plan—convertible
preferred stock (0.3 shares issued and
outstanding) ......................... — — 89 — 89
Common stock (1,750.0 shares authorized;
585.1 shares issued and outstanding) ......... — 392 19,242 (392) 19,242
Additional paid-in capital ................. 11,054 7,141 — (18,195) —
Retained earnings ...................... 8,328 1,628 13,314 (9,956) 13,314
Accumulated other changes in equity from
nonowner sources ..................... (88) (274) (900) 362 (900)
Treasury stock, at cost (128.8 shares) .......... — — (6,426) — (6,426)
Total shareholders’ equity ................ 19,294 8,887 25,319 (28,181) 25,319
Total liabilities and shareholders’ equity ...... $72,948 $34,323 $30,661 $(28,181) $109,751
(1) The Travelers Companies, Inc., excluding its subsidiaries.
243