v3.25.2

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues
Premiums	$ 10,921	$ 10,243	$ 21,631	$ 20,369
Net investment income	942	885	1,872	1,731
Fee income	124	115	243	224
Net realized investment gains (losses)	6	(65)	(55)	(30)
Other revenues	123	105	235	217
Total revenues	12,116	11,283	23,926	22,511
Claims and expenses
Claims and claim adjustment expenses	6,789	7,373	14,795	14,029
Amortization of deferred acquisition costs	1,802	1,678	3,580	3,376
General and administrative expenses	1,545	1,478	3,004	2,884
Interest expense	99	98	198	196
Total claims and expenses	10,235	10,627	21,577	20,485
Income before income taxes	1,881	656	2,349	2,026
Income tax expense	372	122	445	369
Net income	$ 1,509	$ 534	$ 1,904	$ 1,657
Net income per share
Basic (in dollars per share)	$ 6.63	$ 2.32	$ 8.35	$ 7.19
Diluted (in dollars per share)	$ 6.53	$ 2.29	$ 8.23	$ 7.09
Weighted average number of common shares outstanding
Basic (in shares)	225.9	228.6	226.4	228.8
Diluted (in shares)	229.3	231.5	229.7	231.8
Cash dividends declared per common share (in dollars per share)	$ 1.10	$ 1.05	$ 2.15	$ 2.05

Fee income includes servicing carrier fees and revenues from large deductible policies and service contracts.

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TRAVELERS COMPANIES, INC. 10-Q