Travelers 2009 Annual Report Download - page 233

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. SHAREHOLDERS’ EQUITY AND DIVIDEND AVAILABILITY (Continued)
Accumulated Other Changes in Equity from Nonowner Sources, Net of Tax
Changes in each component of Accumulated Other Changes in Equity from Nonowner Sources
were as follows:
Net Benefit Plan Accumulated
Net Unrealized Assets and Other Changes
Gains (Losses) Obligations in Equity from
on Investment Recognized in Nonowner
(at and for the year ended December 31, in millions) Securities Equity Other(1) Sources
Balance, December 31, 2006 ............... $ 453 $ (94) $ 93 $ 452
Net change in unrealized gains on investment
securities, net of tax expense of $151 . . . . . . . 280 — — 280
Less: Reclassification adjustment for net
realized gains included in net income, net of
tax benefit of $(60) . . . . . . . . . . . . . . . . . . . . (113) — — (113)
Net change in benefit plan assets and
obligations recognized in equity, net of tax
benefit of $(30) ...................... — (50) — (50)
Change in other, net of tax expense of $30 . . . . — — 101 101
Current period change . . . . . . . . . . . . . . . . . 167 (50) 101 218
Balance, December 31, 2007 ............... 620 (144) 194 670
Net change in unrealized gains on investment
securities, net of tax benefit of $(584) . . . . . . (1,056) — — (1,056)
Less: Reclassification adjustment for net
realized gains included in net income, net of
tax expense of $157 . . . . . . . . . . . . . . . . . . . 292 — — 292
Net change in benefit plan assets and
obligations recognized in equity, net of tax
benefit of $(212) ..................... —(405) — (405)
Change in other, net of tax benefit of $(47) . . . . — — (401) (401)
Current period change . . . . . . . . . . . . . . . . . (764) (405) (401) (1,570)
Balance, December 31, 2008 ............... (144) (549) (207) (900)
Cumulative effect of adoption of updated
accounting guidance at April 1, 2009 net of
tax benefit of $(38) (see note 1) . . . . . . . . . . (71) — — (71)
Net change in unrealized gains on investment
securities, net of tax expense of $1,122 ...... 2,088 — — 2,088
Less: Reclassification adjustment for net
realized gains included in net income, net of
tax benefit of $(6) .................... (12) — — (12)
Net change in benefit plan assets and
obligations recognized in equity, net of tax
benefit of $(47) ...................... — (88) — (88)
Change in other, net of tax expense of $43 .... — — 202 202
Current period change . . . . . . . . . . . . . . . . . 2,005 (88) 202 2,119
Balance, December 31, 2009 ............... $ 1,861 $(637) $ (5) $ 1,219
(1) Activity in all years primarily represented foreign currency translation adjustments.
221