Travelers 2008 Annual Report Download - page 260
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THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
18. SELECTED QUARTERLY FINANCIAL DATA (Unaudited)
First Second Third Fourth
2008 (in millions, except per share data) Quarter Quarter Quarter Quarter Total
Total revenues ............................... $6,232 $6,295 $6,145 $5,805 $24,477
Total expenses ............................... 4,918 5,008 5,957 4,878 20,761
Income before income taxes ..................... 1,314 1,287 188 927 3,716
Income tax expense (benefit) ..................... 347 345 (26) 126 792
Net income ................................. $ 967 $ 942 $ 214 $ 801 $ 2,924
Net income per share:(1)
Basic .................................... $ 1.57 $ 1.57 $ 0.36 $ 1.37 $ 4.90
Diluted ................................... 1.54 1.54 0.36 1.35 4.82
First Second Third Fourth
2007 (in millions, except per share data) Quarter Quarter Quarter Quarter Total
Total revenues ............................... $6,427 $6,573 $6,526 $6,491 $26,017
Total expenses ............................... 4,967 4,932 4,852 5,050 19,801
Income before income taxes ..................... 1,460 1,641 1,674 1,441 6,216
Income tax expense ........................... 374 387 476 378 1,615
Net income ................................. $1,086 $1,254 $1,198 $1,063 $ 4,601
Net income per share:(1)
Basic .................................... $ 1.62 $ 1.90 $ 1.85 $ 1.67 $ 7.04
Diluted ................................... 1.56 1.86 1.81 1.64 6.86
(1) Due to the averaging of shares, quarterly earnings per share may not add to the total for the full
year.
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