Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 22

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 22
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 assets4,181 4,147  Total assets$81,943 $79,197 

See Notes to Consolidated Financial Statements.

88

Loews Corporation and Subsidiaries

CONSOLIDATED BALANCE SHEETS

Liabilities and Equity:     December 3120242023(Dollar amounts in millions, except per share data)     Insurance reserves:  Claim and claim adjustment expense$24,976 $23,304 Future policy benefits13,158 13,959 Unearned premiums7,346 6,933 Total insurance reserves45,480 44,196 Payable to brokers110 79 Short-term debt5 1,084 Long-term debt8,939 7,919 Deferred income taxes550 398 Deferred non-insurance warranty revenue4,530 4,694 Other liabilities4,392 4,302 Total liabilities64,006 62,672  Commitments and contingent liabilities Shareholders’ equity:Preferred stock, $0.10 par value:Authorized – 100,000,000 sharesCommon stock, $0.01 par value:Authorized – 1,800,000,000 sharesIssued – 214,912,595 and 222,268,150 shares2 2 Additional paid-in capital2,490 2,589 Retained earnings16,459 15,617 Accumulated other comprehensive loss(1,867)(2,497) 17,084 15,711 Less treasury stock, at cost (212,251 and 100,000 shares)(18)(7)Total shareholders’ equity17,066 15,704 Noncontrolling interests871 821 Total equity17,937 16,525 Total liabilities and equity$81,943 $79,197 

See Notes to Consolidated Financial Statements.

89

Loews Corporation and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended December 31202420232022(In millions, except per share data)       Revenues:   Insurance premiums$10,211 $9,480 $8,667 Net investment income2,780 2,395 1,802 Investment losses(81)(53)(199)Non-insurance warranty revenue1,609 1,624 1,574 Operating revenues and other2,991 2,455 2,200