Travelers 2011 Annual Report Download - page 171

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share amounts)
For the year ended December 31, 2011 2010 2009
Revenues
Premiums .............................................. $22,090 $21,432 $21,418
Net investment income ..................................... 2,879 3,059 2,776
Fee income ............................................. 296 287 306
Net realized investment gains ................................ 55 264 17
Other revenues .......................................... 126 70 163
Total revenues ........................................ 25,446 25,112 24,680
Claims and expenses
Claims and claim adjustment expenses .......................... 16,276 13,210 12,408
Amortization of deferred acquisition costs ....................... 3,876 3,802 3,813
General and administrative expenses ........................... 3,556 3,406 3,366
Interest expense .......................................... 386 388 382
Total claims and expenses ............................... 24,094 20,806 19,969
Income before income taxes ................................ 1,352 4,306 4,711
Income tax expense (benefit) ................................ (74) 1,090 1,089
Net income ............................................ $ 1,426 $ 3,216 $ 3,622
Net income per share
Basic ................................................ $ 3.40 $ 6.69 $ 6.38
Diluted .............................................. $ 3.36 $ 6.62 $ 6.33
Weighted average number of common shares outstanding
Basic ................................................ 415.8 476.5 563.2
Diluted .............................................. 420.5 482.5 568.6
For the year ended December 31, 2011 2010 2009
Net Realized Investment Gains
Other-than-temporary impairment losses:
Total gains (losses) ...................................... $30$ 7 $ (323)
Non-credit component of impairments recognized in accumulated
other changes in equity from nonowner sources ................ (55) (33) 65
Other-than-temporary impairment losses ..................... (25) (26) (258)
Other net realized investment gains ............................ 80 290 275
Net realized investment gains ............................. $55$ 264 $ 17
See notes to consolidated financial statements.
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