LOEWS CORP
For the period ended Mar 31, 2024. Filed May 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
L$110.93+0.9%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Operations
| Three Months Ended March 31 | 2024 | 2023 |
|---|---|---|
| (In millions, except per share data) | ||
| Revenues: | ||
| Insurance premiums | $2,441 | $2,248 |
| Net investment income | 669 | 569 |
| Investment losses | (22) | (35) |
| Non-insurance warranty revenue | 407 | 407 |
| Operating revenues and other | 736 | 594 |
| Total | 4,231 | 3,783 |
| Expenses: | ||
| Insurance claims and policyholders’ benefits (re-measurement gain (loss) of $(15) and $1) | 1,807 | 1,653 |
| Amortization of deferred acquisition costs | 444 | 379 |
| Non-insurance warranty expense | 394 | 384 |
| Operating expenses and other | 880 | 781 |
| Equity method income | (26) | (28) |
| Interest | 103 | 95 |
| Total | 3,602 | 3,264 |
| Income before income tax | 629 | 519 |
| Income tax expense | (144) | (115) |
| Net income | 485 | 404 |
| Amounts attributable to noncontrolling interests | (28) | (29) |
| Net income attributable to Loews Corporation | $457 | $375 |
| Basic and diluted net income per share | $2.05 | $1.61 |
| Weighted average shares outstanding: | ||
| Shares of common stock | 222.47 | 233.30 |
| Dilutive potential shares of common stock | 0.31 | 0.32 |
| Total weighted average shares outstanding assuming dilution | 222.78 | 233.62 |
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