Item 6. Selected Financial Data.

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Item 6. Selected Financial Data.

The following table presents selected financial data. The table should be read in conjunction with Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data of this Form

10-K.


Year Ended December 31	2019		2018			2017 (a)			2016 (a)			2015 (a)

(In millions, except per share data)

Results of Operations:

Revenues	$	14,931	$	14,066		$	13,735		$	13,105		$	13,415
Income before income tax	$	1,119	$	834		$	1,582		$	936		$	244
Net income	$	871	$	706		$	1,412		$	716		$	287
Amounts attributable to noncontrolling interests		61		(70	)		(248	)		(62	)		(27)

Net income attributable to Loews Corporation	$	932	$	636		$	1,164		$	654		$	260




Diluted net income per share	$	3.07	$	1.99		$	3.45		$	1.93		$	0.72




Financial Position:

Investments	$	51,250	$	48,186		$	52,226		$	50,711		$	49,400
Total assets		82,243		78,316			79,586			76,594			76,006
Debt		11,533		11,376			11,533			10,778			10,560
Shareholders’ equity		19,119		18,518			19,204			18,163			17,561
Cash dividends per share		0.25		0.25			0.25			0.25			0.25
Book value per share		65.71		59.34			57.83			53.96			51.67
Shares outstanding		290.97		312.07			332.09			336.62			339.90

(a)	On January 1, 2018, the Company adopted Accounting Standard Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” and ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10); Recognition and Measurement of Financial Assets and Financial Liabilities.” Prior period revenues were not adjusted for the adoption of either of these standards.

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