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Consolidated Condensed Statements of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Insurance premiums $ 7,312 $ 6,988 $ 6,924
Net investment income 1,817 2,182 2,135
Investment gains (losses):      
Other-than-temporary impairment losses (21) (14) (81)
Other net investment gains (losses) (36) 136 131
Total investment gains (losses) (57) 122 50
Non-insurance warranty revenue (Notes 1 and 13) 1,007 390 361
Operating revenues and other 3,987 4,053 3,635
Total 14,066 13,735 13,105
Expenses:      
Insurance claims and policyholders' benefits 5,572 5,310 5,283
Amortization of deferred acquisition costs 1,335 1,233 1,235
Non-insurance warranty expense (Notes 1 and 13) 923 299 271
Operating expenses and other (Note 6) 4,828 4,665 4,844
Interest 574 646 536
Total 13,232 12,153 12,169
Income before income tax 834 1,582 936
Income tax expense (128) (170) (220)
Net income 706 1,412 716
Amounts attributable to noncontrolling interests (70) (248) (62)
Net income attributable to Loews Corporation $ 636 $ 1,164 $ 654
Basic net income per common share $ 1.99 $ 3.46 $ 1.93
Diluted net income per common share $ 1.99 $ 3.45 $ 1.93
Basic weighted average number of shares outstanding 319,060 336,610 337,950
Diluted weighted average number of shares outstanding 319,930 337,500 338,310