Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 41

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 includes earnings on cash and short-term investments held at the Parent Company to meet 

41

current and future liquidity needs, as well as results of the trading portfolio held at the Parent Company. Corporate also includes the equity method of accounting for Altium Packaging. 

The following table summarizes the results of operations for Corporate for the three months ended March 31, 2025 and 2024 as presented in Note 11 of the Notes to Consolidated Condensed Financial Statements included under Item 1 of this Report:

Three Months Ended March 3120252024(In millions)     Revenues:  Net investment income$— $54 Expenses:  Operating and other16 22 Equity method loss7 1 Interest18 19 Total41 42 Income (loss) before income tax(41)12 Income tax (expense) benefit7 (2)Net income (loss) attributable to Loews Corporation$(34)$10 

Net loss attributable to Loews Corporation of $34 million was recorded for the three months ended March 31, 2025 as compared with net income of $10 million in the comparable 2024 period, primarily due to the reasons discussed below.

Net investment income for the Parent Company decreased $54 million for the three months ended March 31, 2025 as compared with the comparable 2024 period, primarily due to the unfavorable change in the fair value of equity based investments.

LIQUIDITY AND CAPITAL RESOURCES

Parent Company

Parent Company cash and investments, net of receivables and payables, totaled $3.5 billion at March 31, 2025 as compared to $3.3 billion at December 31, 2024. During the three months ended March 31, 2025, we received $686 million in cash dividends from our subsidiaries, including a special cash dividend of $497 million from CNA and a $75 million distribution from Boardwalk Pipelines. Cash outflows during the three months ended March 31, 2025 included the payment of $394 million to fund treasury stock purchases and $13 million of cash dividends to our shareholders. As a holding company we depend on dividends from our subsidiaries and returns on our investment portfolio to fund our obligations. We also have an effective shelf registration statement on file with the Securities and Exchange Commission (“SEC”) under which we may publicly issue an unspecified amount of our debt, equity or hybrid securities from time to time. We are not responsible for