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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Insurance premiums $ 2,155 $ 2,035 $ 4,214 $ 3,997
Net investment income 366 616 798 1,166
Investment losses (59) 578 (70) 635
Non-insurance warranty revenue 392 359 774 697
Operating revenues and other 534 415 1,074 1,130
Total 3,388 4,003 6,790 7,625
Expenses:        
Insurance claims and policyholders’ benefits 1,583 1,546 3,038 3,052
Amortization of deferred acquisition costs 374 357 718 716
Non-insurance warranty expense 367 332 721 643
Operating expenses and other 715 656 1,406 1,570
Interest 96 100 192 225
Total 3,135 2,991 6,075 6,206
Income (loss) before income tax 253 1,012 715 1,419
Income tax expense (51) (219) (143) (333)
Net income 202 793 572 1,086
Amounts attributable to noncontrolling interests (22) (39) (54) (71)
Net income (loss) attributable to Loews Corporation $ 180 $ 754 $ 518 $ 1,015
Per share-basic (in dollars per share) $ 0.73 $ 2.87 $ 2.10 $ 3.83
Per share-diluted (in dollars per share) $ 0.73 $ 2.86 $ 2.09 $ 3.82
Weighted average shares outstanding:        
Shares of common stock (in shares) 245,450 262,760 246,700 265,060
Dilutive potential shares of common stock (in shares) 490 580 500 490
Total weighted average shares outstanding assuming dilution (in shares) 245,940 263,340 247,200 265,550