Fundamentals - Annual Income Statement
| Balance Sheet | Cash Flow | Trading Statistics | Income Statement |
| Year Ended December 31 | 2012 | 2011 | 2010 |
|---|---|---|---|
| (In millions, except per share data) | |||
| Revenues: | |||
| Insurance premiums | $6,882 | $6,603 | $6,515 |
| Net investment income | 2,349 | 2,063 | 2,508 |
| Investment gains (losses): | |||
| Other-than-temporary impairment losses | (129) | (175) | (254) |
| Portion of other-than-temporary impairment losses recognized in Other comprehensive income | (25) | (41) | 22 |
| Net impairment losses recognized in earnings | (154) | (216) | (232) |
| Other net investment gains | 211 | 164 | 288 |
| Total investment gains (losses) | 57 | (52) | 56 |
| Contract drilling revenues | 2,936 | 3,254 | 3,230 |
| Other | 2,328 | 2,259 | 2,306 |
| Total | 14,552 | 14,129 | 14,615 |
| Expenses: | |||
| Insurance claims and policyholders' benefits | 5,896 | 5,489 | 4,985 |
| Amortization of deferred acquisition costs | 1,274 | 1,176 | 1,168 |
| Contract drilling expenses | 1,537 | 1,549 | 1,391 |
| Other operating expenses | 4,006 | 3,167 | 3,652 |
| Interest | 440 | 522 | 517 |
| Total | 13,153 | 11,903 | 11,713 |
| Income before income tax | 1,399 | 2,226 | 2,902 |
| Income tax expense | (289) | (532) | (894) |
| Income from continuing operations | 1,110 | 1,694 | 2,008 |
| Discontinued operations, net | (20) | ||
| Net income | 1,110 | 1,694 | 1,988 |
| Amounts attributable to noncontrolling interests | (542) | (632) | (699) |
| Net income attributable to Loews Corporation | $568 | $1,062 | $1,289 |
| Net income attributable to Loews Corporation: | |||
| Income from continuing operations | $568 | $1,062 | $1,308 |
| Discontinued operations, net | (19) | ||
| Net Income | $568 | $1,062 | $1,289 |
| Basic net income per common share: | |||
| Income from continuing operations | $1.44 | $2.62 | $3.12 |
| Discontinued operations, net | (0.04) | ||
| Net income | $1.44 | $2.62 | $3.08 |
| Diluted net income per common share: | |||
| Income from continuing operations | $1.43 | $2.62 | $3.11 |
| Discontinued operations, net | (0.04) | ||
| Net income | $1.43 | $2.62 | $3.07 |
| Dividends per share: | $0.25 | $0.25 | $0.25 |
| Basic weighted average number of shares outstanding: | 395.12 | 404.53 | 418.72 |
| Diluted weighted average number of shares outstanding: | 395.87 | 405.32 | 419.52 |
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