Fundamentals - Annual Income Statement

Year Ended December 31201620152014
(In millions, except per share data)   
Revenues:   
   Insurance premiums$6,924  $6,921  $7,212
   Net investment income2,135  1,866  2,163
   Investment gains (losses):   
      Other-than-temporary impairment losses(81) (156) (77)
   Other net investment gains131  85  131
   Total investment gains (losses)50  (71)  54
   Contract drilling revenues1,525  2,360  2,737
   Other revenues2,471  2,339  2,159
      Total13,105  13,415  14,325
Expenses:   
   Insurance claims and policyholders' benefits5,283  5,384  5,591
   Amortization of deferred acquisition costs1,235  1,540  1,317
   Contract drilling expenses772  1,228  1,524
   Other operating expenses4,343  4,499  3,585
   Interest536  520  498
      Total12,169  13,171  12,515
Income before income tax936  244  1,810
Income tax (expense) benefit(220) 43  (457)
Income from continuing operations716  287  1,353
Discontinued operations, net     (391)
Net income716  287  962
Amounts attributable to noncontrolling interests(62) (27) (371)
Net income attributable to Loews Corporation$654  $260  $591
Net income attributable to Loews Corporation:   
      Income from continuing operations$654  $260  $962
      Discontinued operations, net     (371)
      Net income$654  $260  $591
Basic and diluted net income per common share:     
   Income from continuing operations$1.93  $0.72  $2.52
   Discontinued operations, net     (0.97)
   Net income$1.93  $0.72  $1.55
Dividends per share$0.25 $0.25$0.25
Basic weighted average number of shares outstanding337.95  362.43  381.92
Diluted weighted average number of shares outstanding338.31  362.69  382.55
For complete copies of our financial results, please refer to our SEC Filings