XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3Close
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Insurance premiums $ 2,593 $ 2,406 $ 7,532 $ 7,001
Net investment income 776 592 2,084 1,752
Investment losses (10) (38) (42) (59)
Non-insurance warranty revenue 401 407 1,212 1,221 Close
Operating revenues and other 706 559 2,178 1,728
Total 4,466 3,926 12,964 11,643
Expenses:        
Insurance claims and policyholders’ benefits (re-measurement loss of $(48), $(41), $(88) and $(75)) 2,019 1,826 5,708 5,258
Amortization of deferred acquisition costs 457 426 1,336 1,208
Non-insurance warranty expense 387 386 1,169 1,154
Operating expenses and other 930 860 2,778 2,449
Equity method (income) loss 9 (22) (44) (89)
Interest 114 94 331 280
Total 3,916 3,570 11,278 10,260
Income before income tax 550 356 1,686 1,383 CloseClose
Income tax expense (125) (80) (381) (315) CloseClose
Net income (loss) 425 276 1,305 1,068 CloseClose
Amounts attributable to noncontrolling interests (24) (23) (78) (80)
Net income (loss) attributable to Loews Corporation $ 401 $ 253 $ 1,227 $ 988
Basic net income per share (in dollars per share) $ 1.83 $ 1.12 $ 5.55 $ 4.32
Diluted net income per share (in dollars per share) $ 1.82 $ 1.12 $ 5.54 $ 4.31
Weighted average shares outstanding:        
Shares of common stock (in shares) 219,670 225,640 221,160 228,850
Dilutive potential shares of common stock (in shares) 270 350 270 310
Total weighted average shares outstanding assuming dilution (in shares) 219,940 225,990 221,430 229,160