Fundamentals - Annual Income Statement
|
Year Ended December 31 |
2020 |
2019 |
2018 |
|
(In millions, except per share data) |
|
|
|
|
Revenues: |
|
|
|
|
Insurance premiums |
$7,649 |
$7,428 |
$7,312 |
|
Net investment income |
1,995 |
2,355 |
1,817 |
|
Investment gains (losses) |
(1,246) |
49 |
(57) |
|
Non-insurance warranty revenue |
1,252 |
1,161 |
1,007 |
|
Operating revenues and other |
2,933 |
3,938 |
3,987 |
|
Total |
12,583 |
14,931 |
14,066 |
|
Expenses: |
|
|
|
|
Insurance claims and policyholders' benefits |
6,170 |
5,806 |
5,572 |
|
Amortization of deferred acquisition costs |
1,410 |
1,383 |
1,335 |
|
Non-insurance warranty expense |
1,159 |
1,082 |
923 |
|
Operating expenses and other |
4,793 |
4,950 |
4,828 |
|
Interest |
515 |
591 |
574 |
|
Total |
14,047 |
13,812 |
13,232 |
|
Income (loss) before income tax |
(1,464) |
1,119 |
834 |
|
Income tax (expense) benefit |
173 |
(248) |
(128) |
|
Net income (loss) |
(1,291) |
871 |
706 |
|
Amounts attributable to noncontrolling interests |
360 |
61 |
(70) |
|
Net income (loss) attributable to Loews Corporation |
($931) |
$932 |
$636 |
|
Basic net income (loss) per common share |
$(3.32) |
$3.08 |
$1.99 |
|
Diluted net income (loss) per common share |
$(3.32) |
$3.07 |
$1.99 |
|
Basic weighted average number of shares outstanding |
280.32 |
302.70 |
319.06 |
|
Diluted weighted average number of shares outstanding |
280.32 |
303.35 |
319.93 |