Travelers Companies (TRV) FY2011 results: revenue $25.4 billion, up 1.3% on the year
Travelers Companies, Inc. (TRV) reported revenue of $25.4 billion for fiscal 2011, the year ended 31 December 2011, up 1.3% on the year before. Net income was $1.4 billion, down 55.6%, and diluted earnings per share $3.36. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$25.4 billion
+1.3% on the year
FY2007FY2011
Operating margin
5.5%
12.1% a year earlier
FY2007FY2011
Net income
$1.4 billion
-55.6% on the year
FY2007FY2011
Diluted EPS
$3.36
-49.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
25,446
25,112
24,680
+1.3%
Operating income
1,390
3,043
3,600
-54.3%
Operating margin
5.5%
12.1%
14.6%
Interest expense
386
388
382
-0.5%
Pre-tax income
1,352
4,306
4,711
-68.6%
Income tax
-74.0
1,090
1,089
Effective tax rate
-5.5%
25.3%
23.1%
Net income
1,414
3,188
3,593
-55.6%
Net margin
5.6%
12.7%
14.6%
Diluted EPS
$3.36
$6.62
$6.33
-49.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,169
3,054
4,231
-29.0%
Cash from investing
n/a
2,109
-899
Cash from financing
n/a
-5,221
-3,442
Share-based compensation
121
128
127
-5.5%
Dividends paid
665
673
693
-1.2%
Diluted shares, weighted
420m
482m
569m
-12.8%
Shares outstanding at period end
393m
435m
520m
-9.6%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
24,477
25,475
27,415
-3.9%
Debt
6,619
6,628
6,538
-0.1%
Other liabilities
73,506
73,553
75,607
-0.1%
Total liabilities and equity
104,602
105,656
109,560
-1.0%
Goodwill
3,365
3,365
3,365
0.0%
Intangible assets
433
502
372
-13.7%
Securities held for sale or to maturity
64,232
62,820
65,847
+2.2%
Cash and equivalents
214
200
255
+7.0%
Other assets
36,358
38,769
39,721
-6.2%
Total assets
104,602
105,656
109,560
-1.0%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.