Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 196

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 15
Chunk 196
---
 CORPORATIONBALANCE SHEETSASSETSDecember 3120242023(In millions)     Current assets, principally investment in short-term instruments$2,222 $2,149 Investments in securities1,170 568 Investments in capital stocks of subsidiaries, at equity15,623 14,889 Other assets95 76 Total assets$19,110 $17,682       LIABILITIES AND SHAREHOLDERS’ EQUITY      Current liabilities$143 $102 Long-term debt1,785 1,782 Deferred income tax and other116 94 Total liabilities2,044 1,978 Shareholders’ equity17,066 15,704 Total liabilities and shareholders’ equity$19,110 $17,682 STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)Year Ended December 31202420232022(In millions)       Revenues:   Equity in income of subsidiaries (a)$1,328 $1,501 $963 Net investment income, interest and other261 131 1 Investment lossTotal1,589 1,632 964 Expenses:Administrative76 119 84 Interest75 80 89 Total151 199 173 Income before income tax1,438 1,433 791 Income tax (expense) benefit(24)1 31 Net income1,414 1,434 822 Equity in other comprehensive income (loss) of subsidiaries630 884 (2,000)Total comprehensive income (loss)$2,044 $2,318 $(1,178)

173

SCHEDULE I(Continued)Condensed Financial Information of RegistrantLOEWS CORPORATIONSTATEMENTS OF CASH FLOWSYear Ended December 31202420232022(In millions)       Operating Activities:   Net income$1,414 $1,434 $822 Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:Equity method investees(67)(512)(3)Provision (benefit) for deferred income taxes4 (4)(49)Changes in operating assets and liabilities, net:Receivables(6)10 (11)Accounts payable and accrued liabilities(12)(9)(47)Trading securities(695)576 153 Other, net2