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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,7134,9644,2745,1185,0925,2506,378
Cash and cash equivalents478336405472327440364
Short-term investments6,2354,6283,8694,6464,7654,8106,014
Total current assets:6,7134,9644,2745,1185,0925,2506,378
Noncurrent Assets
Operating lease, right-of-use asset370573
Property, plant and equipment10,45115,56815,51115,42715,23015,47715,611
Long-term investments and receivables1,7982,0042,4243,2783,2203,3133,674
Long-term investments1,7982,0042,4243,2783,2203,3133,674
Intangible assets, net (including goodwill)1,3951,4141,2761,297346351374
Goodwill785767665659346351374
Intangible assets, net (excluding goodwill)610647611638   
Total noncurrent assets:14,01419,55919,21120,00218,79619,14119,659
Other undisclosed assets59,50957,72054,83154,46652,70651,63852,330
TOTAL ASSETS:80,23682,24378,31679,58676,59476,02978,367
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt3777172801101,040335
Liability for uncertainty in income taxes 95     
Total current liabilities:37172172801101,040335
Noncurrent Liabilities
Long-term debt and lease obligation, including:10,07211,45611,35911,25310,6689,54310,333
Other undisclosed long-term debt and lease obligation10,07211,45611,35911,25310,6689,54310,333
Liabilities, other than long-term debt1,065      
Deferred income tax liabilities1,065 
Total noncurrent liabilities:11,13711,45611,35911,25310,6689,54310,333
Other undisclosed liabilities49,88148,68545,55443,48742,45542,63643,049
Total liabilities:61,05560,31356,93055,02053,23353,21953,717
Stockholders' equity
Stockholders' equity attributable to parent17,86019,11918,51819,20418,16317,56119,280
Common stock3333334
Treasury stock, value(7)(13)(5)(20)   
Additional paid in capital3,1333,3743,6273,1513,1873,1843,481
Accumulated other comprehensive income (loss)581(68)(880)(26)(223)(357)280
Retained earnings14,15015,82315,77316,09615,19614,73115,515
Stockholders' equity attributable to noncontrolling interest1,3212,8112,8685,3625,1985,2495,370
Total stockholders' equity:19,18121,93021,38624,56623,36122,81024,650
TOTAL LIABILITIES AND EQUITY:80,23682,24378,31679,58676,59476,02978,367

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues12,58314,93114,06613,73513,10513,41514,325
Revenue, net1,4511,5252,3602,737
Premiums earned, net7,6497,4287,312
Net investment income1,9952,3551,817    
Financial services revenue6,9886,9246,9217,212
Other income 3,9383,9872,9922,4712,339
Cost of revenue(7,580)(8,271)(7,830)(7,345)(7,290)(8,152)(8,432)
Cost of goods and services sold (1,082)(923)(802)(772)(1,228)(1,524)
Policyholder benefits and claims incurred, net(6,170)(5,806)(5,572)
Deferred policy acquisition costs, amortization expense(1,410)(1,383)(1,335)(1,233)(1,235)(1,540)(1,317)
Financial services costs(5,310)(5,283)(5,384)(5,591)
Gross profit:5,0036,6606,2366,3905,8155,2635,893
Operating expenses(4,793)(4,950)(4,828)(4,162)(4,343)(4,499)(4,370)
Operating income:2101,7101,4082,2281,4727641,523
Nonoperating income      28
Investment income, nonoperating      50
Foreign currency transaction loss, before tax      (22)
Interest and debt expense(515)(591)(574)(646)(536)(520)(498)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,159)     757
Income (loss) from continuing operations before equity method investments, income taxes:(1,464)1,1198341,5829362441,810
Loss from equity method investments      (62)
Income (loss) from continuing operations before income taxes:(1,464)1,1198341,5829362441,748
Income tax expense (benefit)173(248)(128)(170)(220)43(457)
Other undisclosed income from continuing operations      62
Income (loss) from continuing operations:(1,291)8717061,4127162871,353
Loss from discontinued operations      (391)
Net income (loss):(1,291)8717061,412716287962
Net income (loss) attributable to noncontrolling interest36061(70)(248)(62)(27)(371)
Net income (loss) attributable to parent:(931)9326361,164654260591
Undistributed earnings (loss) allocated to participating securities, basic(252)(297)(208)(903)
Net income (loss) available to common stockholders, diluted:(1,183)635428261654260591

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(1,291)8717061,412716287962
Other comprehensive income (loss)727911(892)218153(718)(69)
Comprehensive income (loss):(564)1,782(186)1,630869(431)893
Comprehensive income (loss), net of tax, attributable to noncontrolling interest282(38)25(269)(81)53(361)
Comprehensive income (loss), net of tax, attributable to parent:(282)1,744(161)1,361788(378)532

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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