Fundamentals - Annual Income Statement
Income Statement | Balance Sheet | Cash Flow | Trading Statistics
Year Ended December 312015 2014 2013
(In millions, except per share data)   
Revenues:   
   Insurance premiums$6,921  $7,212  $7,271 
   Net investment income1,866  2,163  2,425 
   Investment gains (losses):   
      Other-than-temporary impairment losses(156) (77) (74)
      Portion of other-than-temporary impairment
      losses recognized in Other comprehensive loss


 


 

(2)
   Net impairment losses recognized in earnings(156) (77) (76)
   Other net investment gains85  131  92 
   Total investment gains (losses)(71)  54  16 
   Contract drilling revenues2,360  2,737  2,844 
   Other revenues2,339  2,159  2,057 
      Total13,415  14,325  14,613 
Expenses:   
   Insurance claims and policyholders' benefits5,384  5,591  5,806 
   Amortization of deferred acquisition costs1,540  1,317  1,362 
   Contract drilling expenses1,228  1,524  1,573 
   Other operating expenses4,499  3,585  3,170 
   Interest520  498  425 
      Total13,171  12,515  12,336 
Income before income tax244  1,810  2,277 
Income tax (expense) benefit43 (457) (656)
Income from continuing operations287  1,353  1,621 
Discontinued operations, net  (391) (552)
Net income287  962  1,069 
Amounts attributable to noncontrolling interests(27) (371) (474)
Net income attributable to Loews Corporation$260  $591  $595 
Net income attributable to Loews Corporation:   
      Income from continuing operations$260  $962  $1,149 
      Discontinued operations, net  (371) (554)
      Net Income$260  $591  $595 
Basic net income per common share:     
   Income from continuing operations$0.72  $2.52  $2.96  
   Discontinued operations, net  (0.97) (1.43) 
   Net income$0.72  $1.55  $1.53 
Diluted net income per common share:     
   Income from continuing operations$0.72  $2.52  $2.95 
   Discontinued operations, net  (0.97) (1.42)
   Net income$0.72  $1.55  $1.53 
Dividends per share$0.25 $0.25  $0.25 
Basic weighted average number of shares outstanding362.43  381.92  388.64 
Diluted weighted average number of shares outstanding362.69  382.55  389.51 
For complete copies of our financial results, please refer to our SEC Filings