Travelers 2015 Annual Report Download - page 166

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
(in millions)
For the year ended December 31, 2015 2014 2013
Common stock
Balance, beginning of year ................................ $ 21,843 $ 21,500 $ 21,161
Employee share-based compensation ......................... 133 149 158
Compensation amortization under share-based plans and other
changes ............................................ 196 194 181
Balance, end of year ..................................... 22,172 21,843 21,500
Retained earnings
Balance, beginning of year ................................ 27,251 24,291 21,352
Net income ........................................... 3,439 3,692 3,673
Dividends ............................................ (744) (735) (734)
Other ............................................... (1) 3—
Balance, end of year ..................................... 29,945 27,251 24,291
Accumulated other comprehensive income (loss), net of tax
Balance, beginning of year ................................ 880 810 2,236
Other comprehensive income (loss) .......................... (1,037) 70 (1,426)
Balance, end of year ..................................... (157) 880 810
Treasury stock, at cost
Balance, beginning of year ................................ (25,138) (21,805) (19,344)
Treasury stock acquired—share repurchase authorization .......... (3,150) (3,275) (2,400)
Net shares acquired related to employee share-based compensation
plans .............................................. (74) (58) (61)
Balance, end of year ..................................... (28,362) (25,138) (21,805)
Total shareholders’ equity ............................... $ 23,598 $ 24,836 $ 24,796
Common shares outstanding
Balance, beginning of year ................................ 322.2 353.5 377.4
Treasury stock acquired—share repurchase authorization .......... (29.6) (35.1) (28.4)
Net shares issued under employee share-based compensation plans . . . 3.3 3.8 4.5
Balance, end of year ..................................... 295.9 322.2 353.5
The accompanying notes are an integral part of the consolidated financial statements.
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