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

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