← TRAVELERS COMPANIES, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $2.8b $3.0b $5.0b $6.3b
Net Income (Loss) Attributable to Parent $3.0b $2.1b $2.5b $2.6b $2.7b $3.7b $2.8b $3.0b $5.0b $6.3b
Net Income (Loss) Available to Common Stockholders, Basic $3.0b $2.0b $2.5b $2.6b $2.7b $3.6b $2.8b $3.0b $5.0b $6.2b
Amortization Of Securities — — — — — — $5.5b $6.2b $7.0b $7.3b
Amortization of Intangible Assets $11.0m $13.0m $17.0m $15.0m $14.0m $14.0m $13.0m $12.0m $21.0m $20.0m
Amortization of deferred acquisition costs $4.0b $4.2b $4.4b $4.6b $4.8b $5.0b $5.5b $6.2b $7.0b $7.3b
Deferred Policy Acquisition Costs, Amortization Expense $4.0b $4.2b $4.4b $4.6b $4.8b $5.0b $5.5b $6.2b $7.0b $7.3b
Depreciation, Depletion and Amortization $826.0m $813.0m $803.0m $763.0m $789.0m $870.0m $826.0m $722.0m $715.0m $680.0m
Deferred Income Tax — — — — — — ($186.0m) ($163.0m) ($152.0m) $210.0m
Deferred Income Tax Expense (Benefit) $111.0m $279.0m ($35.0m) ($43.0m) ($31.0m) $64.0m ($229.0m) ($124.0m) ($155.0m) $231.0m
Deferred Tax — — — — — — ($186.0m) ($163.0m) ($152.0m) $210.0m
Deferred federal income tax expense (benefit) $110.0m $337.0m ($13.0m) ($33.0m) ($29.0m) $62.0m ($186.0m) ($163.0m) ($152.0m) $210.0m
Asset Impairment Charge — — — — — — $12.0m $9.0m $5.0m $0
Payment, Tax Withholding, Share-based Payment Arrangement $72.0m $62.0m $51.0m $48.0m $47.0m $44.0m $61.0m $64.0m $114.0m $127.0m
Share-based Payment Arrangement, Expense $155.0m $136.0m $140.0m $142.0m $148.0m $162.0m $183.0m $214.0m $260.0m $256.0m
Treasury stock acquired — net employee share-based compensation ($72.0m) ($62.0m) ($51.0m) ($48.0m) ($47.0m) ($44.0m) ($61.0m) ($64.0m) ($114.0m) ($127.0m)
Earnings (Loss)es From Equity Investments — — — — — — ($336.0m) ($157.0m) ($294.0m) ($226.0m)
Income (Loss) from Equity Method Investments $232.0m $397.0m $365.0m $251.0m $130.0m $993.0m $336.0m $157.0m $294.0m $226.0m
Income Tax Expense (Benefit) $1.0b $674.0m $438.0m $516.0m $540.0m $796.0m $512.0m $380.0m $1.2b $1.5b
Additional Financial Items
Accretion Expense $50.0m $50.0m — — — — — — — —
Acquisition, net of cash acquired — ($439.0m) ($4.0m) $0 $0 ($38.0m) ($4.0m) $0 ($382.0m) $0
Beginning Cash Position — — — — — — $761.0m $799.0m $650.0m $699.0m
Cash Flow From Continuing Financing Activities — — — — — — ($2.7b) ($1.1b) ($1.7b) ($2.7b)
Cash Flow From Continuing Investing Activities — — — — — — ($3.7b) ($6.8b) ($7.3b) ($7.7b)
Change In Other Working Capital — — — — — $750.0m $45.0m — — —
Change In Receivables — — — — — — ($533.0m) ($1.4b) ($748.0m) ($252.0m)
Change In Working Capital — — — — — — ($2.4b) ($2.7b) ($3.8b) ($3.7b)
Changes In Account Receivables — — — — — — ($533.0m) ($1.4b) ($748.0m) ($252.0m)
Changes In Cash — — — — — — $68.0m ($161.0m) $63.0m $291.0m
Claims and claim adjustment expense reserves ($257.0m) $1.5b $1.2b $1.0b $2.6b $2.4b $2.0b $2.8b $2.7b $3.3b
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded — — — — $10.0m — — — — —
Deferred acquisition costs ($4.1b) ($4.3b) ($4.5b) ($4.7b) ($4.9b) ($5.2b) ($5.8b) ($6.7b) ($7.2b) ($7.4b)
End Cash Position — — — — — — $799.0m $650.0m $699.0m $842.0m
Equity Securities, FV-NI, Unrealized Gain (Loss) — — ($29.0m) $61.0m $25.0m $78.0m ($61.0m) $16.0m $89.0m $50.0m
Equity in income from other investments ($232.0m) ($397.0m) ($365.0m) ($251.0m) ($130.0m) ($993.0m) ($336.0m) ($157.0m) ($294.0m) ($226.0m)
Equity securities ($51.0m) ($459.0m) ($117.0m) ($94.0m) ($112.0m) ($407.0m) ($136.0m) ($105.0m) ($124.0m) ($126.0m)
Financing Cash Flow — — — — — — ($2.7b) ($1.1b) ($1.7b) ($2.7b)
Fixed maturities ($11.6b) ($12.2b) ($13.5b) ($10.7b) ($14.1b) ($18.2b) ($15.9b) ($15.7b) ($17.1b) ($18.8b)
Free Cash Flow — — — — — — $6.5b $7.7b $9.1b $10.6b
Gain Loss On Investment Securities — — — — — — $192.0m $96.0m $25.0m $48.0m
Goodwill $3.6b $4.0b $3.9b $4.0b $4.0b $4.0b $4.0b $4.0b $4.2b $4.1b
Investing Cash Flow — — — — — — ($3.7b) ($6.8b) ($7.3b) ($7.7b)
Net Business Purchase And Sale — — — — — — ($4.0m) $0 ($382.0m) $0
Net realized investment losses ($68.0m) ($216.0m) ($114.0m) ($113.0m) ($2.0m) ($171.0m) $204.0m $105.0m $30.0m $48.0m
Net sales (purchases) of short-term securities ($199.0m) ($26.0m) $908.0m ($957.0m) ($566.0m) $1.7b $355.0m ($1.7b) $370.0m ($945.0m)
Operating Gains Losses — — — — — — ($144.0m) ($61.0m) ($269.0m) ($178.0m)
Other Cash Adjustment Outside Changein Cash — — — — — — — $0 $0 ($171.0m)
Other Non Cash Items — — — — — — $45.0m $647.0m $556.0m $81.0m
Other investments ($580.0m) ($541.0m) ($537.0m) ($497.0m) ($487.0m) ($520.0m) ($574.0m) ($495.0m) ($396.0m) ($346.0m)
Other operating activities $189.0m ($343.0m) $190.0m $535.0m $129.0m $750.0m $45.0m $647.0m $556.0m $81.0m
Premiums receivable ($286.0m) ($394.0m) ($393.0m) ($384.0m) $94.0m ($258.0m) ($877.0m) ($1.3b) ($859.0m) ($115.0m)
Proceeds From Stock Option Exercised — — — — — — $267.0m $141.0m $321.0m $214.0m
Proceeds from Stock Options Exercised $332.0m $173.0m $132.0m $213.0m $127.0m $293.0m $267.0m $141.0m $321.0m $214.0m
Proceeds from maturities of fixed maturities $9.0b $8.8b $7.1b $6.8b $7.4b $8.9b $6.8b $6.4b $8.5b $11.7b
Purchase Of Business — — — — — — ($4.0m) $0 ($382.0m) $0
Real estate investments ($48.0m) ($59.0m) ($74.0m) ($107.0m) ($113.0m) ($28.0m) ($41.0m) ($67.0m) ($48.0m) ($48.0m)
Realized Investment Gains (Losses) — — $114.0m $113.0m $2.0m $171.0m ($204.0m) ($105.0m) ($30.0m) ($48.0m)
Reinsurance recoverables $610.0m $16.0m ($100.0m) $157.0m ($162.0m) ($101.0m) $344.0m ($63.0m) $111.0m ($137.0m)
Repurchase Of Capital Stock — — — — — — ($2.1b) ($1.0b) ($1.1b) ($3.1b)
Securities transactions in the course of settlement ($21.0m) ($47.0m) ($56.0m) $158.0m ($47.0m) ($19.0m) $21.0m ($83.0m) $56.0m $144.0m
Treasury stock acquired — share repurchase authorizations ($2.4b) ($1.4b) ($1.3b) ($1.5b) ($625.0m) ($2.2b) ($2.0b) ($958.0m) ($1.0b) ($3.0b)
Unearned premium reserves $372.0m $521.0m $710.0m $1.0b $592.0m $1.2b $1.9b $2.6b $1.5b $584.0m
Net Cash Provided by (Used in) Operating Activities $4.2b $3.8b $4.4b $5.2b $6.5b $7.3b $6.5b $7.7b $9.1b $10.6b
Cash flows from investing activities:
Payments to Acquire Businesses, Net of Cash Acquired — $439.0m $4.0m $0 — $38.0m $4.0m $0 $382.0m $0
Net Investment Properties Purchase And Sale — — — — — — ($31.0m) ($67.0m) $16.0m ($48.0m)
Net Investment Purchase And Sale — — — — — — ($3.3b) ($6.3b) ($6.5b) ($7.1b)
Purchase Of Investment — — — — — — ($16.6b) ($18.0b) ($17.7b) ($20.2b)
Purchase Of Investment Properties — — — — — — ($41.0m) ($67.0m) ($48.0m) ($48.0m)
Gains (Losses) on Sales of Investment Real Estate — — — — — $8.0m $4.0m — $17.0m —
Sale Of Investment — — — — — — $13.3b $11.7b $11.2b $13.1b
Sale Of Investment Properties — — — — — — $10.0m $0 $64.0m $0
Net Other Investing Changes — — — — — — ($385.0m) ($462.0m) ($408.0m) ($533.0m)
Other investing activities ($344.0m) ($244.0m) ($318.0m) ($325.0m) ($330.0m) ($279.0m) ($385.0m) ($462.0m) ($408.0m) ($533.0m)
Payments for (Proceeds from) Other Investing Activities $344.0m $244.0m $318.0m $325.0m $330.0m $279.0m $385.0m $462.0m $408.0m $533.0m
Net Cash Provided by (Used in) Investing Activities ($1.5b) ($1.8b) ($2.3b) ($2.9b) ($4.9b) ($5.2b) ($3.7b) ($6.8b) ($7.3b) ($7.7b)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $0 $738.0m $0 $1.2b
Issuance of debt $491.0m $789.0m $591.0m $492.0m $490.0m $739.0m $0 $738.0m $0 $1.2b
Long Term Debt Issuance — — — — — — $0 $738.0m $0 $1.2b
Net Issuance Payments Of Debt — — — — — — $0 $738.0m $0 $1.2b
Net Long Term Debt Issuance — — — — — $739.0m — $738.0m — $1.2b
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $9.0b $8.8b $7.1b $6.8b $7.4b $8.9b $6.8b $6.4b $8.5b $11.7b
Long Term Debt Payments — — — — — $0 $0 — — —
Repayment Of Debt — — — — — $0 $0 — — —
Issuance of common stock — employee share options $332.0m $173.0m $132.0m $213.0m $127.0m $293.0m $267.0m $141.0m $321.0m $214.0m
Net Common Stock Issuance — — — — — — ($2.1b) ($1.0b) ($1.1b) ($3.1b)
Common Stock Payments — — — — — — ($2.1b) ($1.0b) ($1.1b) ($3.1b)
Payments for Repurchase of Common Stock $2.4b $1.4b $1.3b $1.5b $625.0m $2.2b $2.0b $958.0m $1.0b $3.0b
Payments of Ordinary Dividends, Common Stock $757.0m $785.0m $814.0m $844.0m $861.0m $869.0m $875.0m $908.0m $951.0m $979.0m
Cash Dividends Paid — — — — — — ($875.0m) ($908.0m) ($951.0m) ($979.0m)
Common Stock Dividend Paid — — — — — — ($875.0m) ($908.0m) ($951.0m) ($979.0m)
Dividends paid to shareholders ($757) ($785) ($814) ($844) ($861) ($869) ($875) ($908) ($951) ($979)
Net Cash Provided by (Used in) Financing Activities ($2.8b) ($1.9b) ($2.0b) ($2.2b) ($1.4b) ($2.0b) ($2.7b) ($1.1b) ($1.7b) ($2.7b)
Effect Of Exchange Rate Changes — — — — — — ($30.0m) $12.0m ($14.0m) $23.0m
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $5.0m $16.0m ($1.0m) ($30.0m) — — —
Effect of exchange rate changes on cash and restricted cash — — — — — ($1.0m) ($30.0m) $12.0m ($14.0m) $23.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $121.0m $227.0m $40.0m $38.0m ($149.0m) $49.0m $314.0m
Net increase (decrease) in cash and restricted cash — $37.0m $29.0m $121.0m $227.0m $40.0m $38.0m ($149.0m) $49.0m $314.0m
Cash and restricted cash at beginning of year — $344.0m $373.0m $494.0m $721.0m $761.0m $799.0m $650.0m $699.0m $842.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $494.0m $721.0m $761.0m $799.0m $650.0m $699.0m $842.0m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — $38.0m ($149.0m) $49.0m $314.0m
Interest Paid, Excluding Capitalized Interest, Operating Activities $358.0m $367.0m $347.0m $338.0m $339.0m $337.0m $349.0m $370.0m $390.0m $393.0m
Income Taxes Paid, Net $892.0m $514.0m $408.0m $428.0m $578.0m $707.0m $817.0m $201.0m $1.3b $1.3b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.