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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Insurance premiums $ 2,221 $ 2,059 $ 6,435 $ 6,056
Net investment income 404 483 1,202 1,649
Investment gains (losses) (96) 22 (166) 657
Non-insurance warranty revenue 399 357 1,173 1,054
Operating revenues and other 533 450 1,607 1,580
Total 3,461 3,371 10,251 10,996
Expenses:        
Insurance claims and policyholders’ benefits 1,665 1,632 4,703 4,684
Amortization of deferred acquisition costs 383 368 1,101 1,084
Non-insurance warranty expense 371 330 1,092 973
Operating expenses and other 760 638 2,166 2,208
Interest 92 99 284 324
Total 3,271 3,067 9,346 9,273
Income (loss) before income tax 190 304 905 1,723
Income tax expense (47) (58) (190) (391)
Net income 143 246 715 1,332
Amounts attributable to noncontrolling interests (13) (26) (67) (97)
Net income (loss) attributable to Loews Corporation $ 130 $ 220 $ 648 $ 1,235
Basic net income per share (in dollars per share) $ 0.54 $ 0.86 $ 2.65 $ 4.71
Diluted net income per share (in dollars per share) $ 0.54 $ 0.85 $ 2.64 $ 4.70
Weighted average shares outstanding:        
Shares of common stock (in shares) 240,370 256,760 244,570 262,270
Dilutive potential shares of common stock (in shares) 390 540 460 500
Total weighted average shares outstanding assuming dilution (in shares) 240,760 257,300 245,030 262,770