Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 115

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 the equity method of accounting for Altium Packaging LLC (“Altium Packaging”), an unconsolidated subsidiary. 

Unless the context otherwise requires, as used herein, the term “Company” means Loews Corporation including its  subsidiaries, the terms “Parent Company,” “we,” “our,” “us” or like terms mean Loews Corporation excluding its subsidiaries and the term “Net income (loss) attributable to Loews Corporation” means Net income (loss) attributable to Loews Corporation shareholders.

We rely upon our invested cash balances and distributions from our subsidiaries to generate the funds necessary to meet our obligations and to declare and pay any dividends to our shareholders. The ability of our subsidiaries to pay dividends is subject to, among other things, the availability of sufficient earnings and funds in such subsidiaries, applicable state laws, including in the case of the insurance subsidiaries of CNA, laws and rules governing the payment of dividends by regulated insurance companies (see Note 15 of the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024) and compliance with covenants in their respective loan agreements. Claims of creditors of our subsidiaries will generally have priority as to the assets of such subsidiaries over our claims and those of our creditors and shareholders. We are not responsible for the liabilities and obligations of our subsidiaries and there are no Parent Company guarantees. 

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RESULTS OF OPERATIONS

Consolidated Financial Results

The following table summarizes net income (loss) attributable to Loews Corporation by segment and the basic and diluted net income per share attributable to Loews Corporation for the three and nine months ended September 30, 2025 and 2024:

Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024(In millions, except per share data)     CNA Financial$371 $259 $897 $860 Boardwalk Pipelines94 77 334 268 Loews Hotels & Co(3)(8)25 43 Corporate42 73 9 56 Net income attributable to Loews Corporation$504 $401 $1,265 $1,227    Basic net income per share$2.43 $1.83 $6.03 $5.55    Diluted net income per share$2.43 $1.82 $6.03 $5.54 

Net income attributable to Loews Corporation for the three months ended