L FY 2013 Earnings Report — Loews Corporation Revenue & Financial Results | Market Cap Arena

Loews CorporationL

FY 2013 Earnings

Reported February 24, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$14.6B	—	—	—	—
Op. Income	$2.3B	—	—	—	—
Gross Margin	50.9%	—	—	—	—
Net Margin	4.1%	—	—	—	—
EPS (Diluted)	$1.53	—	—	—	—
Free Cash Flow	$359M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$14.6B
Cost of Revenue	$7.2B
GROSS PROFIT	$7.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$5.2B
Operating Expenses	$5.2B
Cost & Expenses	$12.3B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$425M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$656M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	-$552M
Other Adjustments	$0
NET INCOME	$595M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$595M
D&A	$871M
EBIT	$2.7B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$14.6B
Cost of Revenue	$7.2B
GROSS PROFIT	$7.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$5.2B
Operating Expenses	$5.2B
Cost & Expenses	$12.3B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$425M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$656M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	-$552M
Other Adjustments	$0
NET INCOME	$595M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$595M
D&A	$871M
EBIT	$2.7B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$595M
Depreciation & Amortization	$871M
Stock-Based Compensation	$0
Deferred Income Tax	$6M
Other Non-Cash Items	$153M
Change in Working Capital	$471M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$1.7B
Acquisitions (Net)	-$235M
Purchases of Investments	-$11.4B
Sales/Maturities of Investments	$10.2B
Other Investing Activities	-$194M
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$1.8B
Common Stock Repurchased	-$228M
Common Dividends Paid	-$97M
Other Financing Activities	-$165M
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	$359M
Net Change in Cash	$66M

Balance Sheet

Item	Amount
Cash & Equivalents	$294M
Short-Term Investments	$48.0B
Net Receivables	$8.9B
Inventory	$0
Other Current Assets	-$57.2B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$13.5B
Goodwill	$357M
Intangible Assets	$0
Long-Term Investments	$52.4B
Tax Assets	$0
Other Non-Current Assets	-$66.3B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$79.9B
Account Payables	$134M
Short-Term Debt	$819M
Deferred Revenue	$0
Other Current Liabilities	-$953M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$9.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$716M
Other Non-Current Liabilities	-$10.2B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$55.0B
Common Stock	$4M
Additional Paid-In Capital	$3.6B
Retained Earnings	$15.5B
Treasury Stock	$0
Accum. Other Comp. Income	$339M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$19.5B
Minority Interest	$5.4B
TOTAL EQUITY	$24.9B
TOTAL LIABILITIES & EQUITY	$79.9B
Total Debt	$10.3B
Net Debt	$10.1B