Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 340

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 340
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Total10,570 9,712 Less: allowance for doubtful accounts on reinsurance receivables21 22   allowance for other doubtful accounts27 30 Receivables$10,522 $9,660 

Note 6. Property, Plant and Equipment

December 3120242023(In millions)     Pipeline equipment (net of accumulated depreciation of $4,819 and $4,470)$8,478 $8,421 Hotel properties (net of accumulated depreciation of $646 and $560)1,517 1,072 Other (net of accumulated depreciation of $578 and $534)496 461 Construction in process247 764 Property, plant and equipment$10,738 $10,718 Depreciation expense and capital expenditures are as follows:Year Ended December 31202420232022 Depre-ciationCapital Expend.Depre-ciationCapitalExpend.Depre-ciationCapital Expend.(In millions)             CNA Financial$59 $105 $54 $97 $49 $50 Boardwalk Pipelines426 365 410 383 394 352 Loews Hotels & Co93 115 69 201 64 264 Corporate2 1 12 2 9 Total$580 $585 $534 $693 $509 $675 Capitalized interest related to the construction and upgrade of qualifying assets amounted to approximately $27 million, $32 million and $17 million for the years ended December 31, 2024, 2023 and 2022.

119

Asset ImpairmentsLoews Hotels & Co evaluates properties with indications that their carrying amounts may not be recoverable. It was determined that the carrying values of two properties in 2023 and two properties in 2022 were impaired. Loews Hotels & Co recorded aggregate impairment charges of $12 million ($9 million after tax) and $25 million ($19 million after tax) for the years ended December 31, 2023 and 2022, which are reported within Operating expenses and other on the Consolidated Statements of Operations. Loews Hotels & Co utilizes an undiscounted probability-weighted cash flow analysis in testing the recoverability of its long-lived assets for potential impairment. Assumptions and estimates underlying this analysis include, among other things, (i) room revenue based on occupancy and average room rates, (ii) other