Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 12

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 12
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Total17,510 15,901 14,044  Expenses:Insurance claims and policyholders’ benefits (re-measurement loss of $(125), $(88), and $(214))7,738 7,068 6,653 Amortization of deferred acquisition costs1,798 1,644 1,490 Non-insurance warranty expense1,547 1,544 1,471 Operating expenses and other4,170 3,393 3,077 Equity method income(58)(120)(139)Interest441 376 378 Total15,636 13,905 12,930 Income before income tax1,874 1,996 1,114 Income tax expense(380)(451)(223)Net income1,494 1,545 891 Amounts attributable to noncontrolling interests(80)(111)(69)Net income attributable to Loews Corporation$1,414 $1,434 $822 Basic net income per share$6.42 $6.30 $3.39 Diluted net income per share$6.41 $6.29 $3.38 Basic weighted average number of shares outstanding220.26 227.48 242.83 Diluted weighted average number of shares outstanding220.53 227.81 243.28 

See Notes to Consolidated Financial Statements.

90

Loews Corporation and Subsidiaries

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Year Ended December 31202420232022(In millions)       Net income$1,494 $1,545 $891  Other comprehensive income (loss), after taxChanges in:Net unrealized losses on investments with an allowance for   credit losses(1)(5)(5)Net unrealized gains (losses) on other investments(262)1,125 (6,097)Total unrealized gains (losses) on investments(263)1,120 (6,102)Impact of changes in discount rates used to measure long-duration contract liabilities712 (318)3,959 Unrealized gains (losses) on cash flow hedges(5)20 Pension and postretirement benefits340 104 15 Foreign currency translation(102)60 (111) Other comprehensive income (loss)687 961 (2,