Fundamentals - Annual Income Statement
| Year Ended December 31 | 2019 | 2018 | 2017 |
|---|---|---|---|
| (In millions, except per share data) | |||
| Revenues: | |||
| Insurance premiums | $7,428 | $7,312 | $6,988 |
| Net investment income | 2,355 | 1,817 | 2,182 |
| Investment gains (losses): | |||
| Other-than-temporary impairment losses | (44) | (21) | (14) |
| Other net investment gains (losses) | 93 | (36) | 136 |
| Total investment gains (losses) | 49 | (57) | 122 |
| Non-insurance warranty revenue | 1,161 | 1,007 | 390 |
| Operating revenues and other | 3.938 | 3.987 | 4,053 |
| Total | 14,931 | 14,066 | 13,735 |
| Expenses: | |||
| Insurance claims and policyholders' benefits | 5,806 | 5,572 | 5,310 |
| Amortization of deferred acquisition costs | 1,383 | 1,335 | 1,233 |
| Non-insurance warranty expense | 1,082 | 923 | 299 |
| Operating expenses and other | 4,950 | 4,828 | 4,665 |
| Interest | 591 | 574 | 646 |
| Total | 13,812 | 13,232 | 12,153 |
| Income before income tax | 1,119 | 834 | 1,582 |
| Income tax expense | (248) | (128) | (170) |
| Net income | 871 | 706 | 1,412 |
| Amounts attributable to noncontrolling interests | 61 | (70) | (248) |
| Net income attributable to Loews Corporation | $932 | $636 | $1,164 |
| Basic net income per common share | $3.08 | $1.99 | $3.46 |
| Diluted net income per common share | $3.07 | $1.99 | $3.45 |
| Basic weighted average number of shares outstanding | 302.70 | 319.06 | 336.61 |
| Diluted weighted average number of shares outstanding | 303.35 | 319.93 | 337.50 |
For complete copies of our financial results, please refer to our SEC Filings