I tried filtering on "Loaned" and I get the same results as "Ever loaned."  Is this a known bug or am I doing something wrong?  I just embarrassed myself by asking for DVDs back that on further inspection were marked as "Returned."  How can I just filter for things that are outstanding loans?

I couldn't replicate this either.... tho I rarely have discs loaned. 

Might also take a closer look at the filtered results, could be some of the view history dates became corrupt - e.g. if for some reason the 'returned' got set to a date prior to 'loaned', it would still get reported as being out.

(insert generic recommendation to run the database repair utility here)

Could also try installing the DVDeMail Plugin and see if it's report is also showing the same overabundance of discs out. If so, then taking a much closer at those profile's viewing history may be in order - possibly even try clearing some events for a few titles to see if the results change (backup first, of course.)