Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - LOEWS CORP | d165633d8k.htm |
| EX-4.4 - EX-4.4 - LOEWS CORP | d165633dex44.htm |
| EX-1.1 - EX-1.1 - LOEWS CORP | d165633dex11.htm |
| EX-5.1 - EX-5.1 - LOEWS CORP | d165633dex51.htm |
Exhibit 12.1
Loews Corporation
Calculation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
| Years Ended December 31, | ||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| Pretax income from continuing operations before noncontrolling interests |
$ | 244 | $ | 1,810 | $ | 2,277 | $ | 2,022 | $ | 2,327 | ||||||||||
| Add (deduct): |
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| Loss (income) from equity investees |
(158 | ) | (318 | ) | (527 | ) | (300 | ) | (117 | ) | ||||||||||
| Distributions from equity investees |
340 | 382 | 147 | 197 | 191 | |||||||||||||||
| Capitalized interest |
(21 | ) | (76 | ) | (91 | ) | (55 | ) | (30 | ) | ||||||||||
| Amortization of capitalized interest |
13 | 10 | 9 | 10 | 8 | |||||||||||||||
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| Earnings before fixed charges |
418 | 1,808 | 1,815 | 1,874 | 2,379 | |||||||||||||||
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| Fixed charges: |
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| Interest expensed |
520 | 513 | 442 | 440 | 522 | |||||||||||||||
| Capitalized interest |
21 | 76 | 91 | 55 | 30 | |||||||||||||||
| Other interest related factors |
30 | 39 | 37 | 38 | 38 | |||||||||||||||
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| Total fixed charges |
571 | 628 | 570 | 533 | 590 | |||||||||||||||
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| Total earnings and fixed charges |
$ | 989 | $ | 2,436 | $ | 2,385 | $ | 2,407 | $ | 2,969 | ||||||||||
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| Ratio of earnings to fixed charges |
1.7 | x | 3.9 | x | 4.2 | x | 4.5 | x | 5.0 | x | ||||||||||