Fundamentals - Annual Income Statement
Balance Sheet | Cash Flow | Trading Statistics | Income Statement
Year Ended December 312013 2012 2011
(In millions, except per share data)   
Revenues:   
   Insurance premiums$7,271 $6,882 $6,603
   Net investment income2,593 2,349 2,063
   Investment gains (losses):   
      Other-than-temporary impairment losses(76)(129)(175)
      Portion of other-than-temporary impairment
      losses recognized in Other comprehensive
      income (loss)


(2)


(25)


(41)
   Net impairment losses recognized in earnings(78)(154)(216)
   Other net investment gains104 211 164
   Total investment gains (losses)2657(52)
   Contract drilling revenues2,844 2,936 3,254
   Other2,319 2,328 2,261
      Total15,053 14,552 14,129
Expenses:   
   Insurance claims and policyholders' benefits5,947 5,896 5,489
   Amortization of deferred acquisition costs1,362 1,274 1,176
   Contract drilling expenses1,573 1,537 1,549
   Other operating expenses3,664 4,006 3,167
   Impairment of goodwill636   
   Interest442 440 522
      Total13,624 13,153 11,903
Income before income tax1,429 1,399 2,226
Income tax expense(360) (289) (532)
Net income1,069 1,110 1,694
Amounts attributable to noncontrolling interests(474)(542)(632)
Net income attributable to Loews Corporation$595 $568 $1,062
Basic net income per common share$1.53 $1.44 $2.62
Diluted net income per common share$1.53 $1.43 $2.62
Dividends per share$0.25 $0.25 $0.25
Basic weighted average number of shares outstanding388.64 395.12 404.53
Diluted weighted average number of shares outstanding389.51 395.87 405.32
Powered by Thomson Reuters
For complete copies of our financial results, please refer to our SEC Filings