Loews Corporation (L) financial statements (2021 and earlier)

Company profile

Business Address 667 MADISON AVE
NEW YORK, NY 10065-8087
State of Incorp. DE
Fiscal Year End December 31
SIC 6331 - Fire, Marine, and Casualty Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,9644,2745,1185,0925,2506,3787,095
Cash and cash equivalents336405472327440364295
Short-term investments4,6283,8694,6464,7654,8106,0146,800
Total current assets:4,9644,2745,1185,0925,2506,3787,095
Noncurrent Assets
Operating lease, right-of-use asset573
Property, plant and equipment15,56815,51115,42715,23015,47715,61114,498
Long-term investments and receivables2,0042,4243,2783,2203,3133,6743,420
Long-term investments2,0042,4243,2783,2203,3133,6743,420
Intangible assets, net (including goodwill)1,4141,2761,297346351374357
Goodwill767665659346351374357
Intangible assets, net (excluding goodwill)647611638    
Total noncurrent assets:19,55919,21120,00218,79619,14119,65918,275
Other undisclosed assets57,72054,83154,46652,70651,63852,33054,569
TOTAL ASSETS:82,24378,31679,58676,59476,02978,36779,939
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt77172801101,040335840
Liability for uncertainty in income taxes95      
Total current liabilities:172172801101,040335840
Noncurrent Liabilities
Long-term debt and lease obligation, including:11,45611,35911,25310,6689,54310,33310,006
Other undisclosed long-term debt and lease obligation11,45611,35911,25310,6689,54310,33310,006
Total noncurrent liabilities:11,45611,35911,25310,6689,54310,33310,006
Other undisclosed liabilities48,68545,55443,48742,45542,63643,04944,187
Total liabilities:60,31356,93055,02053,23353,21953,71755,033
Stockholders' equity
Stockholders' equity attributable to parent19,11918,51819,20418,16317,56119,28019,458
Common stock3333344
Treasury stock, value(13)(5)(20)    
Additional paid in capital3,3743,6273,1513,1873,1843,4813,607
Accumulated other comprehensive income (loss)(68)(880)(26)(223)(357)280339
Retained earnings15,82315,77316,09615,19614,73115,51515,508
Stockholders' equity attributable to noncontrolling interest2,8112,8685,3625,1985,2495,3705,448
Total stockholders' equity:21,93021,38624,56623,36122,81024,65024,906
TOTAL LIABILITIES AND EQUITY:82,24378,31679,58676,59476,02978,36779,939

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues14,93114,06613,73513,10513,41514,32515,053
Revenue, net1,4511,5252,3602,7372,844
Premiums earned, net7,4287,312
Net investment income2,3551,817     
Financial services revenue6,9886,9246,9217,2127,271
Other income3,9383,9872,9922,4712,339
Cost of revenue(8,271)(7,830)(7,345)(7,290)(8,152)(8,432)(7,520)
Cost of goods and services sold(1,082)(923)(802)(772)(1,228)(1,524)(1,573)
Policyholder benefits and claims incurred, net(5,806)(5,572)
Deferred policy acquisition costs, amortization expense(1,383)(1,335)(1,233)(1,235)(1,540)(1,317)1,362
Financial services costs(5,310)(5,283)(5,384)(5,591)(5,947)
Gross profit:6,6606,2366,3905,8155,2635,8937,533
Operating expenses(4,950)(4,828)(4,162)(4,343)(4,499)(4,370)(4,683)
Operating income:1,7101,4082,2281,4727641,5232,850
Nonoperating income (expense)     28(58)
Investment income, nonoperating     50(58)
Foreign currency transaction loss, before tax     (22) 
Interest and debt expense(591)(574)(646)(536)(520)(498)(442)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes     757(921)
Income from continuing operations before equity method investments, income taxes:1,1198341,5829362441,8101,429
Income (loss) from equity method investments     (62)12
Income from continuing operations before income taxes:1,1198341,5829362441,7481,441
Income tax expense (benefit)(248)(128)(170)(220)43(457)(360)
Other undisclosed income from continuing operations     62 
Income from continuing operations:8717061,4127162871,3531,081
Loss from discontinued operations     (391) 
Income before gain (loss) on sale of properties:8717061,4127162879621,081
Other undisclosed net loss      (12)
Net income:8717061,4127162879621,069
Net income (loss) attributable to noncontrolling interest61(70)(248)(62)(27)(371)(474)
Net income attributable to parent:9326361,164654260591595
Undistributed earnings (loss) allocated to participating securities, basic(297)(208)(903)
Net income available to common stockholders, diluted:635428261654260591595

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:8717061,4127162879621,069
Other comprehensive income (loss)911(892)218153(718)(69)(378)
Comprehensive income (loss):1,782(186)1,630869(431)893691
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(38)25(269)(81)53(361)437
Other undisclosed comprehensive loss, net of tax, attributable to parent      (874)
Comprehensive income (loss), net of tax, attributable to parent:1,744(161)1,361788(378)532254

Statements sources

The financial statements are based on the company's filings with the 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.

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