Loews Corporation (L) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
9 WEST 57TH STREET NEW YORK, NY 10019-2714 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6331 - Fire, Marine, and Casualty Insurance (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 6,525 | 7,155 | 6,713 | 4,964 | 4,274 | 5,118 | |||
| Cash and cash equivalents | 532 | 621 | 478 | 336 | 405 | 472 | |||
| Short-term investments | 5,993 | 6,534 | 6,235 | 4,628 | 3,869 | 4,646 | |||
| Debt securities, available-for-sale, amortized cost, excluding accrued interest, after allowance for credit loss | (1) | ✕ | ✕ | ✕ | ✕ | ||||
| Total current assets: | 6,524 | 7,155 | 6,713 | 4,964 | 4,274 | 5,118 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 328 | 272 | 370 | 573 | ✕ | ✕ | |||
| Property, plant and equipment | 10,027 | 9,888 | 10,451 | 15,568 | 15,511 | 15,427 | |||
| Long-term investments and receivables | 1,954 | 1,933 | 1,798 | 2,004 | 2,424 | 3,278 | |||
| Long-term investments | 1,954 | 1,933 | 1,798 | 2,004 | 2,424 | 3,278 | |||
| Intangible assets, net (including goodwill) | 457 | 458 | 1,395 | 1,414 | 1,276 | 1,297 | |||
| Goodwill | 346 | 349 | 785 | 767 | 665 | 659 | |||
| Intangible assets, net (excluding goodwill) | 111 | 109 | 610 | 647 | 611 | 638 | |||
| Total noncurrent assets: | 12,766 | 12,551 | 14,014 | 19,559 | 19,211 | 20,002 | |||
| Other undisclosed assets | 56,204 | 61,920 | 59,509 | 57,720 | 54,831 | 54,466 | |||
| TOTAL ASSETS: | 75,494 | 81,626 | 80,236 | 82,243 | 78,316 | 79,586 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 854 | 93 | 37 | 77 | 17 | 280 | |||
| Liability for uncertainty in income taxes | 95 | ||||||||
| Total current liabilities: | 854 | 93 | 37 | 172 | 17 | 280 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 8,165 | 8,986 | 10,072 | 11,456 | 11,359 | 11,253 | |||
| Other undisclosed long-term debt and lease obligation | 8,165 | 8,986 | 10,072 | 11,456 | 11,359 | 11,253 | |||
| Liabilities, other than long-term debt | 243 | 1,079 | 1,065 | ||||||
| Deferred income tax liabilities | 243 | 1,079 | 1,065 | ✕ | ✕ | ||||
| Total noncurrent liabilities: | 8,408 | 10,065 | 11,137 | 11,456 | 11,359 | 11,253 | |||
| Other undisclosed liabilities | 50,754 | 52,293 | 49,881 | 48,685 | 45,554 | 43,487 | |||
| Total liabilities: | 60,016 | 62,451 | 61,055 | 60,313 | 56,930 | 55,020 | |||
| Equity | |||||||||
| Equity, attributable to parent | 14,598 | 17,846 | 17,860 | 19,119 | 18,518 | 19,204 | |||
| Common stock | 2 | 2 | 3 | 3 | 3 | 3 | |||
| Treasury stock, value | (12) | (3) | (7) | (13) | (5) | (20) | |||
| Additional paid in capital | 2,748 | 2,885 | 3,133 | 3,374 | 3,627 | 3,151 | |||
| Accumulated other comprehensive income (loss) | (3,284) | 186 | 581 | (68) | (880) | (26) | |||
| Retained earnings | 15,144 | 14,776 | 14,150 | 15,823 | 15,773 | 16,096 | |||
| Equity, attributable to noncontrolling interest | 880 | 1,329 | 1,321 | 2,811 | 2,868 | 5,362 | |||
| Total equity: | 15,478 | 19,175 | 19,181 | 21,930 | 21,386 | 24,566 | |||
| TOTAL LIABILITIES AND EQUITY: | 75,494 | 81,626 | 80,236 | 82,243 | 78,316 | 79,586 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 14,044 | 14,657 | 12,583 | 14,931 | 14,066 | 13,735 | ||
| Premiums earned, net | 8,667 | 8,175 | 7,649 | 7,428 | 7,312 | ✕ | ||
| Net investment income | 1,802 | 2,259 | 1,995 | 2,355 | 1,817 | |||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 6,988 | |
| Other income | 2,200 | 2,133 | 3,938 | 3,987 | 2,992 | |||
| Cost of revenue | (7,876) | (7,792) | (7,580) | (8,271) | (7,830) | (7,345) | ||
| Policyholder benefits and claims incurred, net | (6,386) | (6,349) | (6,170) | (5,806) | (5,572) | ✕ | ||
| Deferred policy acquisition costs, amortization expense | (1,490) | (1,443) | (1,410) | (1,383) | (1,335) | (1,233) | ||
| Financial services costs | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | (5,310) | |
| Gross profit: | 6,168 | 6,865 | 5,003 | 6,660 | 6,236 | 6,390 | ||
| Operating expenses | (3,077) | (2,931) | (4,793) | (4,950) | (4,828) | (4,162) | ||
| Operating income: | 3,091 | 3,934 | 210 | 1,710 | 1,408 | 2,228 | ||
| Interest and debt expense | (378) | (424) | (515) | (591) | (574) | (646) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (1,328) | (1,159) | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 2,713 | 2,182 | (1,464) | 1,119 | 834 | 1,582 | ||
| Income from equity method investments | 139 | |||||||
| Other undisclosed loss from continuing operations before income taxes | (1,471) | |||||||
| Income (loss) from continuing operations before income taxes: | 1,381 | 2,182 | (1,464) | 1,119 | 834 | 1,582 | ||
| Income tax expense (benefit) | (278) | (479) | 173 | (248) | (128) | (170) | ||
| Income (loss) from continuing operations: | 1,103 | 1,703 | (1,291) | 871 | 706 | 1,412 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 1,703 | (1,291) | 871 | 706 | 1,412 | |
| Net income (loss): | 1,103 | 1,703 | (1,291) | 871 | 706 | 1,412 | ||
| Net income (loss) attributable to noncontrolling interest | (91) | (125) | 360 | 61 | (70) | (248) | ||
| Net income (loss) attributable to parent: | 1,012 | 1,578 | (931) | 932 | 636 | 1,164 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (183) | (266) | (252) | (297) | (208) | (903) | ||
| Net income (loss) available to common stockholders, diluted: | 829 | 1,312 | (1,183) | 635 | 428 | 261 | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,103 | 1,703 | (1,291) | 871 | 706 | 1,412 | ||
| Other comprehensive income (loss) | (3,858) | (445) | 727 | 911 | (892) | 218 | ||
| Comprehensive income (loss): | (2,755) | 1,258 | (564) | 1,782 | (186) | 1,630 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 297 | (75) | 282 | (38) | 25 | (269) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (2,458) | 1,183 | (282) | 1,744 | (161) | 1,361 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.