XML 19 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Insurance premiums $ 8,175 $ 7,649 $ 7,428
Net investment income 2,259 1,995 2,355
Investment gains 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
Per share-basic (in dollars per share) $ 6.08 $ (3.32) $ 3.08
Per share-diluted (in dollars per share) $ 6.07 $ (3.32) $ 3.07
Basic weighted average number of shares outstanding (in shares) 259,670 280,320 302,700
Diluted weighted average number of shares outstanding (in shares) 260,200 280,320 303,350