CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2013
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Revenues |
||||||||||||||||
|
Premiums |
$ | 15,262 | $ | 7,375 | $ | — | $ | — | $ | 22,637 | ||||||
|
Net investment income |
1,830 | 879 | 7 | — | 2,716 | |||||||||||
|
Fee income |
393 | 2 | — | — | 395 | |||||||||||
|
Net realized investment gains(1) |
126 | 38 | 2 | — | 166 | |||||||||||
|
Other revenues |
225 | 52 | — | — | 277 | |||||||||||
|
Total revenues |
17,836 | 8,346 | 9 | — | 26,191 | |||||||||||
|
Claims and expenses |
||||||||||||||||
|
Claims and claim adjustment expenses |
8,817 | 4,490 | — | — | 13,307 | |||||||||||
|
Amortization of deferred acquisition costs |
2,571 | 1,250 | — | — | 3,821 | |||||||||||
|
General and administrative expenses |
2,570 | 1,174 | 13 | — | 3,757 | |||||||||||
|
Interest expense |
53 | — | 308 | — | 361 | |||||||||||
|
Total claims and expenses |
14,011 | 6,914 | 321 | — | 21,246 | |||||||||||
|
Income (loss) before income taxes |
3,825 | 1,432 | (312 | ) | — | 4,945 | ||||||||||
|
Income tax expense (benefit) |
1,054 | 388 | (170 | ) | — | 1,272 | ||||||||||
|
Net income of subsidiaries |
— | — | 3,815 | (3,815 | ) | — | ||||||||||
|
Net income |
$ | 2,771 | $ | 1,044 | $ | 3,673 | $ | (3,815 | ) | $ | 3,673 | |||||
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Total OTTI gains (losses) |
$ | (8 | ) | $ | (2 | ) | $ | — | $ | — | $ | (10 | ) | |||
|
OTTI losses recognized in net realized investment gains |
$ | (10 | ) | $ | (5 | ) | $ | — | $ | — | $ | (15 | ) | |||
|
OTTI gains recognized in OCI |
$ | 2 | $ | 3 | $ | — | $ | — | $ | 5 | ||||||
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2012
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Revenues |
||||||||||||||||
|
Premiums |
$ | 15,158 | $ | 7,199 | $ | — | $ | — | $ | 22,357 | ||||||
|
Net investment income |
1,912 | 968 | 9 | — | 2,889 | |||||||||||
|
Fee income |
321 | 2 | — | — | 323 | |||||||||||
|
Net realized investment gains(1) |
29 | 22 | — | — | 51 | |||||||||||
|
Other revenues |
87 | 34 | (1 | ) | — | 120 | ||||||||||
|
Total revenues |
17,507 | 8,225 | 8 | — | 25,740 | |||||||||||
|
Claims and expenses |
||||||||||||||||
|
Claims and claim adjustment expenses |
9,908 | 4,768 | — | — | 14,676 | |||||||||||
|
Amortization of deferred acquisition costs |
2,636 | 1,274 | — | — | 3,910 | |||||||||||
|
General and administrative expenses |
2,445 | 1,161 | 4 | — | 3,610 | |||||||||||
|
Interest expense |
73 | — | 305 | — | 378 | |||||||||||
|
Total claims and expenses |
15,062 | 7,203 | 309 | — | 22,574 | |||||||||||
|
Income (loss) before income taxes |
2,445 | 1,022 | (301 | ) | — | 3,166 | ||||||||||
|
Income tax expense (benefit) |
588 | 224 | (119 | ) | — | 693 | ||||||||||
|
Net income of subsidiaries |
— | — | 2,655 | (2,655 | ) | — | ||||||||||
|
Net income |
$ | 1,857 | $ | 798 | $ | 2,473 | $ | (2,655 | ) | $ | 2,473 | |||||
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Total OTTI gains |
$ | 18 | $ | 9 | $ | — | $ | — | $ | 27 | ||||||
|
OTTI losses recognized in net realized investment gains |
$ | (9 | ) | $ | (6 | ) | $ | — | $ | — | $ | (15 | ) | |||
|
OTTI gains recognized in OCI |
$ | 27 | $ | 15 | $ | — | $ | — | $ | 42 | ||||||
CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2011
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Revenues |
||||||||||||||||
|
Premiums |
$ | 14,903 | $ | 7,187 | $ | — | $ | — | $ | 22,090 | ||||||
|
Net investment income |
1,933 | 938 | 8 | — | 2,879 | |||||||||||
|
Fee income |
294 | 2 | — | — | 296 | |||||||||||
|
Net realized investment gains (losses)(1) |
10 | 50 | (5 | ) | — | 55 | ||||||||||
|
Other revenues |
103 | 23 | — | — | 126 | |||||||||||
|
Total revenues |
17,243 | 8,200 | 3 | — | 25,446 | |||||||||||
|
Claims and expenses |
||||||||||||||||
|
Claims and claim adjustment expenses |
10,906 | 5,370 | — | — | 16,276 | |||||||||||
|
Amortization of deferred acquisition costs |
2,594 | 1,282 | — | — | 3,876 | |||||||||||
|
General and administrative expenses |
2,377 | 1,152 | 27 | — | 3,556 | |||||||||||
|
Interest expense |
73 | — | 313 | — | 386 | |||||||||||
|
Total claims and expenses |
15,950 | 7,804 | 340 | — | 24,094 | |||||||||||
|
Income (loss) before income taxes |
1,293 | 396 | (337 | ) | — | 1,352 | ||||||||||
|
Income tax expense (benefit) |
111 | 14 | (199 | ) | — | (74 | ) | |||||||||
|
Net income of subsidiaries |
— | — | 1,564 | (1,564 | ) | — | ||||||||||
|
Net income |
$ | 1,182 | $ | 382 | $ | 1,426 | $ | (1,564 | ) | $ | 1,426 | |||||
|
(in millions) |
TPC | Other Subsidiaries |
Travelers(2) | Eliminations | Consolidated | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Total OTTI gains |
$ | 15 | $ | 15 | $ | — | $ | — | $ | 30 | ||||||
|
OTTI losses recognized in net realized investment gains (losses) |
$ | (15 | ) | $ | (10 | ) | $ | — | $ | — | $ | (25 | ) | |||
|
OTTI gains recognized in OCI |
$ | 30 | $ | 25 | $ | — | $ | — | $ | 55 | ||||||