Travelers 2014 Annual Report Download - page 254

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
For the year ended December 31, 2012
253
(in millions)
TPC
Other
Subsidiaries
Travelers(1)
Eliminations
Consolidated
Net income
$
1,857
$
798
$
2,473
$
(2,655
)
$
2,473
Other comprehensive income:
Changes in net unrealized gains on
investment securities:
Having no credit losses
recognized in the
consolidated statement of
income
248
23
10
—
281
Having credit losses recognized
in the consolidated statement
of income
57
24
—
—
81
Net changes in benefit plan assets
and obligations
(6
)
(5
)
(58
)
—
( 69
)
Net changes in unrealized foreign
currency translation
(19
)
62
—
—
43
Other comprehensive income
(loss) before income taxes
and other comprehensive
income of subsidiaries
280
104
(48
)
—
336
Income tax expense (benefit)
101
21
(17
)
—
105
Other comprehensive income
(loss), net of taxes, before
other comprehensive
income of subsidiaries
179
83
(31
)
—
231
Other comprehensive income of
subsidiaries
—
—
262
(262
)
—
Other comprehensive income
179
83
231
(262
)
231
Comprehensive income
$
2,036
$
881
$
2,704
$
(2,917
)
$
2,704
(1) The Travelers Companies, Inc., excluding its subsidiaries.