Fundamentals - Annual Income Statement

Year Ended December 31

2021

2020

2019

(In millions, except per share data)

 

 

 

Revenues:

 

 

 

   Insurance premiums

$8,175

$7,649

$7,428

   Net investment income

2,259

1,995

2,355

   Investment gains (losses)

660

(1,246)

49

   Non-insurance warranty revenue

1,430

1,252

1,161

   Operating revenues and other

2,133

2,933

3,938

      Total

14,657

12,583

14,931

Expenses:

 

 

 

   Insurance claims and policyholders' benefits

6,349

6,170

5,806

   Amortization of deferred acquisition costs

1,443

1,410

1,383

   Non-insurance warranty expense

1,328

1,159

1,082

   Operating expenses and other

2,931

4,793

4,950

   Interest

424

515

591

      Total

12,475

14,047

13,812

Income (loss) before income tax

2,182

(1,464)

1,119

Income tax (expense) benefit

(479)

173

(248)

Net income (loss)

1,703

(1,291)

871

Amounts attributable to noncontrolling interests

(125)

360

61

Net income (loss) attributable to Loews Corporation

$1,578

($931)

$932

Basic net income (loss) per common share

$6.08

$(3.32)

$3.08

Diluted net income (loss) per common share

$6.07

$(3.32)

$3.07

Basic weighted average number of shares outstanding

259.67

280.32

302.70

Diluted weighted average number of shares outstanding

260.20

280.32

303.35

For complete copies of our financial results, please refer to our SEC Filings