Fundamentals - Annual Income Statement
Income Statement | Balance Sheet | Cash Flow | Trading Statistics
Year Ended December 312014 2013 2012
(In millions, except per share data)   
Revenues:   
   Insurance premiums$7,212 $7,271  $6,881 
   Net investment income2,163 2,425  2,177 
   Investment gains (losses):   
      Other-than-temporary impairment losses(77)(74)(127)
      Portion of other-than-temporary impairment
      losses recognized in Other comprehensive income (loss)


 


(2)


(23)
   Net impairment losses recognized in earnings(77)(76)(150)
   Other net investment gains131 92  198 
   Total investment gains54 16 48 
   Contract drilling revenues2,737 2,844  2,936 
   Other revenues2,159 2,057 2,030 
      Total14,325 14,613  14,072 
Expenses:   
   Insurance claims and policyholders' benefits5,591 5,806  5,729 
   Amortization of deferred acquisition costs1,317 1,362  1,274 
   Contract drilling expenses1,524 1,573  1,537 
   Other operating expenses3,585 3,170  3,084 
   Interest498 425  426 
      Total12,515 12,336  12,050 
Income before income tax1,810 2,277  2,022 
Income tax expense(457)(656) (513)
Income from continuing operations1,353 1,621  1,509 
Discontinued operations, net(391)(552) (399)
Net income962 1,069  1,110 
Amounts attributable to noncontrolling interests(371)(474)(542)
Net income attributable to Loews Corporation$591 $595  $568 
Net income attributable to Loews Corporation:   
      Income from continuing operations$962 $1,149 $968 
      Discontinued operations, net(371)(554)(400)
      Net Income$591 $595  $568 
Basic net income per common share:     
   Income from continuing operations$2.52 $2.96  $2.45 
   Discontinued operations, net(0.97)(1.43) (1.01)
   Net income$1.55 $1.53  $1.44 
Diluted net income per common share:     
   Income from continuing operations$2.52 $2.95 $2.44 
   Discontinued operations, net(0.97)(1.42) (1.01)
   Net income$1.55 $1.53  $1.43 
Dividends per share$0.25 $0.25  $0.25 
Basic weighted average number of shares outstanding381.92 388.64  395.12 
Diluted weighted average number of shares outstanding382.55 389.51  395.87 
For complete copies of our financial results, please refer to our SEC Filings