Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 339

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 339
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31, 2024Estimated Fair ValueValuation TechniquesUnobservable InputsRange (Weighted Average) (In millions)      Fixed maturity securities$1,724 Discounted cash flowCredit spread1%—6%(2%)   December 31, 2023     Fixed maturity securities$1,495 Discounted cash flowCredit spread1%—7%(2%)For fixed maturity securities, an increase to the credit spread assumptions would result in a lower fair value measurement.Financial Assets and Liabilities Not Measured at Fair ValueThe carrying amount, estimated fair value and the level of the fair value hierarchy of the financial assets and liabilities which are not measured at fair value on the Consolidated Balance Sheets are presented in the following tables. The carrying amounts and estimated fair values of short-term debt and long-term debt exclude finance lease obligations. The carrying amounts reported on the Consolidated Balance Sheets for cash and short-term investments not carried at fair value and certain other assets and liabilities approximate fair value due to the short-term nature of these items.Carrying AmountEstimated Fair ValueDecember 31, 2024Level 1Level 2Level 3Total(In millions)           Assets:     Other invested assets, primarily mortgage loans$1,019 $987 $987  Liabilities:Short-term debt4 5 5 Long-term debt8,936 $7,702 966 8,668  December 31, 2023 Assets:Other invested assets, primarily mortgage loans$1,035 $997 $997  Liabilities:Short-term debt1,083 $546 520 1,066 Long-term debt7,915 7,255 385 7,640 

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The fair values of debt were based on observable market prices when available. When observable market prices were not available, the fair values of debt were based on observable market prices of comparable instruments adjusted for differences between the observed instruments and the instruments being valued or is estimated using discounted cash flow analyses, based on current incremental borrowing rates for similar types of borrowing arrangements.

Note 5. Receivables

December 3120242023(In millions)     Reinsurance (Note 17)$6,072 $5,434 Insurance3,697 3,470 Receivable from brokers50 64 Accrued investment income458 446 Income taxes9 21 Other, primarily customer accounts284 277