Travelers 2010 Annual Report Download - page 251

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, 2009
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Revenues
Premiums ........................ $14,459 $6,959 $ — $ — $21,418
Net investment income .............. 1,839 913 24 — 2,776
Fee income ....................... 310 (4) — — 306
Net realized investment gains (losses) .... (54) (57) 128 — 17
Other revenues .................... 118 48 — (3) 163
Total revenues ................... 16,672 7,859 152 (3) 24,680
Claims and expenses
Claims and claim adjustment expenses . . . 8,293 4,115 — — 12,408
Amortization of deferred acquisition costs . 2,560 1,253 — — 3,813
General and administrative expenses ..... 2,272 1,097 (3) — 3,366
Interest expense ................... 74 — 311 (3) 382
Total claims and expenses .......... 13,199 6,465 308 (3) 19,969
Income (loss) before income taxes ..... 3,473 1,394 (156) — 4,711
Income tax expense (benefit) .......... 840 344 (95) — 1,089
Equity in net income of subsidiaries ..... — — 3,683 (3,683) —
Net income ..................... $ 2,633 $1,050 $3,622 $(3,683) $ 3,622
Other
(in millions) TPC Subsidiaries Travelers(1) Eliminations Consolidated
Net Realized Investment Gains (Losses)
Other-than-temporary impairment losses:
Total losses ..................... $(192) $(130) $ (1) $— $(323)
Non-credit component of impairment
recognized in accumulated other
changes in equity from nonowner
sources ...................... 35 30 — — 65
Other-than-temporary impairments
losses ...................... (157) (100) (1) — (258)
Other net realized investment gains ..... 103 43 129 — 275
Net realized investment gains
(losses) ................... $ (54) $ (57) $128 $— $ 17
(1) The Travelers Companies, Inc., excluding its subsidiaries.
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