Company: L
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000060086-25-000091
Chunk: 1

Company: LOEWS CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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084 Less treasury stock, at cost (4,682,891 and 212,251 shares)(398)(18)Total shareholders’ equity17,191 17,066 Noncontrolling interests843 871 Total equity18,034 17,937 Total liabilities and equity$83,142 $81,943 

See accompanying Notes to Consolidated Condensed Financial Statements.

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Table of contents

Loews Corporation and Subsidiaries

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended March 3120252024(In millions, except per share data)     Revenues:  Insurance premiums$2,626 $2,441 Net investment income608 669 Investment losses(9)(22)Non-insurance warranty revenue397 407 Operating revenues and other872 736 Total4,494 4,231  Expenses:Insurance claims and policyholders’ benefits (re-measurement loss of $8 and $15)2,027 1,807 Amortization of deferred acquisition costs471 444 Non-insurance warranty expense385 394 Operating expenses and other991 880 Equity method (income) loss1 (26)Interest105 103 Total3,980 3,602 Income before income tax514 629 Income tax expense(122)(144)Net income392 485 Amounts attributable to noncontrolling interests(22)(28)Net income attributable to Loews Corporation$370 $457 Basic and diluted net income per share$1.74 $2.05 Weighted average shares outstanding:Shares of common stock212.45222.47Dilutive potential shares of common stock0.150.31Total weighted average shares outstanding assuming dilution212.60222.78

See accompanying Notes to Consolidated Condensed Financial Statements.

4

Loews Corporation and Subsidiaries

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

Three Months Ended March 3120252024(In millions)     Net income$392 $485  Other comprehensive income (loss), after taxChanges in:Net unrealized gains (losses) on investments with an allowance for credit losses(3)2 Net unrealized gains (losses) on other investments282 (217)Total unrealized gains (losses) on investments279