Loews (L) FY2012 results: revenue $14.1 billion, down 0.4% on the year
Loews Corp. (L) reported revenue of $14.1 billion for fiscal 2012, the year ended 31 December 2012, down 0.4% on the year before. Net income was $568 million, down 46.5%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$14.1 billion
-0.4% on the year
FY2007FY2012
Operating margin
14.4%
15.8% a year earlier
FY2007FY2012
Net income
$568 million
-46.5% on the year
FY2007FY2012
Diluted EPS
$1.43
-45.4% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
14,072
14,129
14,615
-0.4%
Operating income
2,022
2,226
2,902
-9.2%
Operating margin
14.4%
15.8%
19.9%
Interest expense
426
522
517
-18.4%
Pre-tax income
2,022
2,226
n/a
-9.2%
Income tax
513
532
894
-3.6%
Effective tax rate
25.4%
23.9%
n/a
Net income
568
1,062
1,289
-46.5%
Net margin
4.0%
7.5%
8.8%
Diluted EPS
$1.43
$2.62
$3.07
-45.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,854
3,965
-47.0
-28.0%
Capital expenditure
1,405
857
917
+63.9%
Free cash flow
1,449
3,108
-964
-53.4%
Free cash flow margin
10.3%
22.0%
-6.6%
Cash from investing
-3,095
-1,903
664
Cash from financing
336
-2,053
-688
Depreciation and amortisation
758
833
816
-9.0%
Share-based compensation
8.0
10.0
11.0
-20.0%
Buybacks
212
732
405
-71.0%
Dividends paid
99.0
101
105
-2.0%
Dividend per share
$0.25
$0.25
$0.25
0.0%
Diluted shares, weighted
396m
405m
420m
-2.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
19,459
18,772
18,450
+3.7%
Non-controlling interest
5,217
4,438
4,656
+17.6%
Debt
9,210
9,001
9,477
+2.3%
Other liabilities
46,135
43,164
43,694
+6.9%
Total liabilities and equity
80,021
75,375
76,277
+6.2%
Fixed assets
13,935
13,618
12,636
+2.3%
Goodwill
412
908
856
-54.6%
Investments
5,835
5,105
7,080
+14.3%
Cash and equivalents
228
129
120
+76.7%
Other assets
59,611
55,615
55,585
+7.2%
Total assets
80,021
75,375
76,277
+6.2%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.