Fundamentals - Annual Income Statement

Year Ended December 31201720162015
(In millions, except per share data)   
Revenues:   
   Insurance premiums$6,988 $6,924  $6,921 
   Net investment income2,182 2,135  1,866 
   Investment gains (losses):   
      Other-than-temporary impairment losses(14) (81) (156)
   Other net investment gains136 131  85 
   Total investment gains (losses)122 50  (71) 
   Contract drilling revenues1,451 1,525  2,360 
   Other revenues2,992 2,471  2,339 
      Total13,735 13,105  13,415 
Expenses:   
   Insurance claims and policyholders' benefits5,310 5,283  5,384 
   Amortization of deferred acquisition costs1,233 1,235  1,540 
   Contract drilling expenses802 772  1,228 
   Other operating expenses4,162 4,343  4,499 
   Interest646 536  520 
      Total12,153 12,169  13,171 
Income before income tax1,582 936  244 
Income tax (expense) benefit(170) (220) 43 
Net income1,412 716  287 
Amounts attributable to noncontrolling interests(248) (62) (27)
Net income attributable to Loews Corporation$1,164 $654  $260 
Basic net income per common share:$3.46$1.93 $0.72
Diluted net income per common share:$3.45$1.93 $0.72
Dividends per share$0.25 $0.25$0.25
Basic weighted average number of shares outstanding336.61 337.95  362.43 
Diluted weighted average number of shares outstanding337.50 338.31  362.69 
For complete copies of our financial results, please refer to our SEC Filings