Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 135

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 135
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 Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Level 3 Assets and Liabilities Held at December 312023Balance, January 1Included in Net Income Included in OCIPurchasesSales Settlements Transfers into Level 3Transfers out of Level 3 Balance, December 31(In millions)                    Fixed maturity securities:          Corporate bonds and other$810 $38 $219 $(33)$11 $1,045 $38 States, municipalities and political subdivisions43 1 44 1 Asset-backed788 $16 9 248 (64)23 $(119)901 9 Fixed maturities available-for-sale$1,641 $16 $48 $467 $— $(97)$34 $(119)$1,990 $— $48  Equity securities$35 $(7)$(4)$24 $(7)Net investment gains and losses are reported in Net income as follows:Major Category of Assets and LiabilitiesConsolidated Statements of Operations Line Items  Fixed maturity securities available-for-saleInvestment gains (losses)Fixed maturity securities tradingNet investment incomeEquity securitiesInvestment gains (losses) and Net investment incomeOther invested assetsInvestment gains (losses) and Net investment incomeDerivative financial instruments held in a trading portfolioNet investment incomeDerivative financial instruments, otherInvestment gains (losses) and Operating revenues and other

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Securities may be transferred in or out of levels within the fair value hierarchy based on the availability of observable market information and quoted prices used to determine the fair value of the security. The availability of observable market information and quoted prices varies based on market conditions and trading volume.Valuation Methodologies and InputsThe following section describes the valuation methodologies and relevant inputs used to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which the instruments are generally classified.Fixed Maturity SecuritiesLevel 1 securities include highly liquid government securities and exchange traded bonds valued using quoted market prices. Level 2 securities include most other fixed maturity securities as the significant inputs are observable in the marketplace. All classes of Level 2 fixed maturity securities are valued using a methodology based on information generated by market transactions involving identical or comparable assets, a discounted cash flow methodology or a combination of both when necessary. Common inputs for all classes of fixed maturity securities include prices from recently executed transactions of similar securities,