Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 107

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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Amortization of deferred acquisition costs435 435 Non-insurance warranty expense388 388 Operating expenses and other (b)378 347 225 18 968 Equity method (income) loss  (32)5 (27)Interest34 47 14 19 114 Total3,117 394 207 42 3,760 Income (loss) before income tax402 94 44 (33)507 Income tax (expense) benefit(85)(24)(9)6 (112)Net income (loss)317 70 35 (27)395 Amounts attributable to noncontrolling interests(26)(26)Net income (loss) attributable to Loews Corporation$291 $70 $35 $(27)$369 (a)Significant segment expenses within Insurance claims and policyholders’ benefits include catastrophe losses of $82 million and unfavorable net prior year loss reserve development of $23 million. Net prior year loss reserve development does not include the effects of interest accretion and change in allowance for uncollectible reinsurance and deductible amounts.(b)Significant segment expenses included in Operating expenses and other:

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Three Months Ended June 30, 2024CNA FinancialBoardwalk PipelinesLoews Hotels & CoCorporateTotal      Insurance related administrative expenses$329 $329 Operating expenses$165 $148 313 Depreciation and amortization108 24 $1 133 Other (c)49 74 53 17 193 Operating expenses and other$378 $347 $225 $18 $968 (c)Other expenses for each reportable segment include:CNA Financial: reflects expenses not directly related to insurance operations, which includes certain expenses related to its non-insurance warranty business and claims services offerings, as well as foreign currency transaction gains and losses. Boardwalk Pipelines: general and administrative expensesLoews Hotels & Co: general and administrative and reimbursable expensesCorporate: general and administrative expenses

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Six Months Ended June 30, 2025CNA Financial Boardwalk Pipelines Loews Hotels & Co CorporateTotal (In millions)           Revenues:           Insurance premiums$5,320 $5,320 Net investment income1,266 $4 $5 $47 1,322 Investment losses(55) (55)Non-insurance warranty revenue795 795