The Allstate Corporation 2002 Annual Report Allstate.com Home
Introduction Financial
Highlights		 At a Glance
Product
Alternatives		 Chairman’s
Message		 Our People Financial
Section		 Board of
Directors		 Senior
Management
Team		 Shareholder
Information
Financial Highlights
$ in millions, except per share data   2002   2001 % change
Revenues $ 29,579  $ 28,865 2.5
Net income   1,134   1,158 (2.1)
Operating income (1)   2,075   1,492 39.1
Investments $ 90,650 $ 79,876 13.5
Total assets   117,426   109,175 7.6
Shareholders’ equity   17,438   17,196 1.4
Per diluted common share:          
Net income $ 1.60 $ 1.60 –
Operating income   2.92   2.06 41.7
Dividends declared   0.84   0.76 10.5
Market value per share:          
Close $ 36.99 $ 33.70  
12-month high   41.95   45.90  
12-month low   31.03   30.00  







(1)

Operating income is a measure used by Allstate management, which is not based on generally accepted accounting principles (“non-GAAP”), to supplement its evaluation of Net income. Operating income is “Income before dividends on preferred securities and cumulative effect of changes in accounting principle, after-tax”, excluding the effects of Realized capital gains and losses, after-tax, and Gain (loss) on disposition of operations, after-tax. In this computation Realized capital gains and losses, after-tax is presented net of the effects of Allstate Financial’s deferred policy acquisition cost amortization and additional future policy benefits, to the extent that such effects resulted from the recognition of Realized capital gains and losses. Further information and a reconciliation of Operating income to Net income appear in the Definitions of Non-GAAP and Operating Measures section of Appendix D of the Notice of Annual Meeting and Proxy Statement, beginning on page D-3.
“
 This annual report contains forward-looking statements about Allstate, including statements about its profitability and the impact of Strategic Risk Management. These statements are subject to the Private Securities Litigation Reform Act of 1995 and are based on management’s estimates, assumptions and projections. Actual results may differ materially from those projected in the forward-looking statements for a variety of reasons. For example, profitability could be affected by loss costs in our Property-Liability business, including losses due to catastrophes such as hurricanes and earthquakes in excess of management’s projections. Also, the number of customers priced through SRM could be less than projected by management if competitive pressures lead to sales of private passenger auto and homeowners insurance that are lower than projected by management. Readers are encouraged to review the other risk factors facing Allstate that we disclose in our annual report to the Securities and Exchange Commission on Form 10-K. We undertake no obligation to publicly correct or update any forward-looking statements.”  
 
Introduction Financial
Highlights		 Product
Alternatives		 Chairman’s
Message		 Our
People		 Financial
Section		 Board of
Directors		 Senior
Management		 Shareholder
Information


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