Travelers 2008 Annual Report Download - page 256

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, 2007
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Assets
Fixed maturities, available for sale at fair value
(including $1,988 subject to securities lending)
(amortized cost $64,152) ................ $42,278 $22,249 $ 393 $ — $ 64,920
Equity securities, at fair value (cost $473) ....... 276 140 72 — 488
Real estate ........................... 2 848 — — 850
Short-term securities ..................... 2,721 1,290 1,175 — 5,186
Other investments ...................... 2,294 944 136 — 3,374
Total investments ..................... 47,571 25,471 1,776 — 74,818
Cash ............................... 202 55 14 — 271
Investment income accrued ................ 535 321 5 — 861
Premiums receivable ..................... 4,037 2,105 — — 6,142
Reinsurance recoverables .................. 10,126 5,515 — — 15,641
Ceded unearned premiums ................ 861 262 — — 1,123
Deferred acquisition costs ................. 1,530 279 — — 1,809
Deferred tax asset ...................... 871 303 33 — 1,207
Contractholder receivables ................. 4,924 1,772 — — 6,696
Goodwill ............................ 2,412 954 — — 3,366
Other intangible assets ................... 425 389 — — 814
Investment in subsidiaries ................. — — 29,522 (29,522) —
Other assets .......................... 1,935 465 245 (169) 2,476
Total assets ......................... $75,429 $37,891 $31,595 $(29,691) $115,224
Liabilities
Claims and claim adjustment expense reserves .... $37,000 $20,700 $ — $ — $ 57,700
Unearned premium reserves ............... 7,674 3,553 — — 11,227
Contractholder payables .................. 4,924 1,772 — — 6,696
Payables for reinsurance premiums ........... 332 286 — — 618
Debt ............................... 1,595 152 4,664 (169) 6,242
Other liabilities ........................ 3,844 1,966 315 — 6,125
Total liabilities ....................... 55,369 28,429 4,979 (169) 88,608
Shareholders’ equity
Preferred Stock Savings Plan—convertible
preferred stock (0.3 shares issued and
outstanding) ......................... — — 112 — 112
Common stock (1,750.0 shares authorized;
627.8 shares issued and outstanding) ......... — 396 18,990 (396) 18,990
Additional paid-in capital ................. 11,052 7,134 — (18,186) —
Retained earnings ...................... 8,487 1,690 11,110 (10,177) 11,110
Accumulated other changes in equity from
nonowner sources ..................... 521 242 670 (763) 670
Treasury stock, at cost (82.9 shares) ........... — — (4,266) — (4,266)
Total shareholders’ equity ................ 20,060 9,462 26,616 (29,522) 26,616
Total liabilities and shareholders’ equity ...... $75,429 $37,891 $31,595 $(29,691) $115,224
(1) The Travelers Companies, Inc., excluding its subsidiaries.
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