Travelers 2010 Annual Report Download - page 250

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 STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2010
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Revenues
Premiums ........................ $14,445 $6,987 $ — $ — $21,432
Net investment income .............. 2,078 970 11 — 3,059
Fee income ....................... 285 2 — — 287
Net realized investment gains .......... 57 200 7 — 264
Other revenues .................... 111 20 (60) (1) 70
Total revenues ................... 16,976 8,179 (42) (1) 25,112
Claims and expenses
Claims and claim adjustment expenses . . . 8,786 4,424 — — 13,210
Amortization of deferred acquisition costs . 2,548 1,254 — — 3,802
General and administrative expenses ..... 2,306 1,086 14 — 3,406
Interest expense ................... 74 — 315 (1) 388
Total claims and expenses .......... 13,714 6,764 329 (1) 20,806
Income (loss) before income taxes ..... 3,262 1,415 (371) — 4,306
Income tax expense (benefit) .......... 798 382 (90) — 1,090
Equity in net income of subsidiaries ..... — — 3,497 (3,497) —
Net income ..................... $ 2,464 $1,033 $3,216 $(3,497) $ 3,216
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Net Realized Investment Gains (Losses)
Other-than-temporary impairment losses:
Total gains (losses) ................ $10 $ (3) $— $— $ 7
Non-credit component of impairments
recognized in accumulated other
changes in equity from nonowner
sources ....................... (22) (11) — — (33)
Other-than-temporary impairment
losses ....................... (12) (14) — — (26)
Other net realized investment gains ...... 69 214 7 — 290
Net realized investment gains ..... $57 $200 $ 7 $— $264
(1) The Travelers Companies, Inc., excluding its subsidiaries.
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