Travelers 2010 Annual Report Download - page 165

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share amounts)
For the year ended December 31, 2010 2009 2008
Revenues
Premiums .............................................. $21,432 $21,418 $21,579
Net investment income ..................................... 3,059 2,776 2,792
Fee income ............................................. 287 306 390
Net realized investment gains (losses) .......................... 264 17 (415)
Other revenues .......................................... 70 163 131
Total revenues ........................................ 25,112 24,680 24,477
Claims and expenses
Claims and claim adjustment expenses .......................... 13,210 12,408 12,993
Amortization of deferred acquisition costs ....................... 3,802 3,813 3,880
General and administrative expenses ........................... 3,406 3,366 3,518
Interest expense .......................................... 388 382 370
Total claims and expenses ............................... 20,806 19,969 20,761
Income before income taxes ................................ 4,306 4,711 3,716
Income tax expense ....................................... 1,090 1,089 792
Net income ............................................ $ 3,216 $ 3,622 $ 2,924
Net income per share
Basic ................................................ $ 6.69 $ 6.38 $ 4.87
Diluted .............................................. $ 6.62 $ 6.33 $ 4.81
Weighted average number of common shares outstanding
Basic ................................................ 476.5 563.2 595.9
Diluted .............................................. 482.5 568.6 604.3
For the year ended December 31, 2010 2009 2008
Net Realized Investment Gains (Losses)
Other-than-temporary impairment losses:
Total gains (losses) ...................................... $7$ (323) $ (420)
Non-credit component of impairments recognized in accumulated
other changes in equity from nonowner sources ................ (33) 65 —
Other-than-temporary impairment losses ..................... (26) (258) (420)
Other net realized investment gains ............................ 290 275 5
Net realized investment gains (losses) ...................... $ 264 $ 17 $ (415)
See notes to consolidated financial statements.
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