Loews Corporation (L) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,1556,7134,9644,2745,1185,0925,250
Cash and cash equivalents621478336405472327440
Short-term investments6,5346,2354,6283,8694,6464,7654,810
Total current assets:7,1556,7134,9644,2745,1185,0925,250
Noncurrent Assets
Operating lease, right-of-use asset272370573
Property, plant and equipment9,88810,45115,56815,51115,42715,23015,477
Long-term investments and receivables1,9331,7982,0042,4243,2783,2203,313
Long-term investments1,9331,7982,0042,4243,2783,2203,313
Intangible assets, net (including goodwill)4581,3951,4141,2761,297346351
Goodwill349785767665659346351
Intangible assets, net (excluding goodwill)109610647611638  
Total noncurrent assets:12,55114,01419,55919,21120,00218,79619,141
Other undisclosed assets61,92059,50957,72054,83154,46652,70651,638
TOTAL ASSETS:81,62680,23682,24378,31679,58676,59476,029
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt933777172801101,040
Liability for uncertainty in income taxes  95    
Total current liabilities:9337172172801101,040
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,98610,07211,45611,35911,25310,6689,543
Other undisclosed long-term debt and lease obligation8,98610,07211,45611,35911,25310,6689,543
Liabilities, other than long-term debt1,0791,065     
Deferred income tax liabilities1,0791,065 
Total noncurrent liabilities:10,06511,13711,45611,35911,25310,6689,543
Other undisclosed liabilities52,29349,88148,68545,55443,48742,45542,636
Total liabilities:62,45161,05560,31356,93055,02053,23353,219
Stockholders' equity
Stockholders' equity attributable to parent17,84617,86019,11918,51819,20418,16317,561
Common stock2333333
Treasury stock, value(3)(7)(13)(5)(20)  
Additional paid in capital2,8853,1333,3743,6273,1513,1873,184
Accumulated other comprehensive income (loss)186581(68)(880)(26)(223)(357)
Retained earnings14,77614,15015,82315,77316,09615,19614,731
Stockholders' equity attributable to noncontrolling interest1,3291,3212,8112,8685,3625,1985,249
Total stockholders' equity:19,17519,18121,93021,38624,56623,36122,810
TOTAL LIABILITIES AND EQUITY:81,62680,23682,24378,31679,58676,59476,029

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues14,65712,58314,93114,06613,73513,10513,415
Revenue, net1,4511,5252,360
Premiums earned, net8,1757,6497,4287,312
Net investment income2,2591,9952,3551,817   
Financial services revenue6,9886,9246,921
Other income2,133 3,9383,9872,9922,4712,339
Cost of revenue(7,792)(7,580)(8,271)(7,830)(7,345)(7,290)(8,152)
Cost of goods and services sold  (1,082)(923)(802)(772)(1,228)
Policyholder benefits and claims incurred, net(6,349)(6,170)(5,806)(5,572)
Deferred policy acquisition costs, amortization expense(1,443)(1,410)(1,383)(1,335)(1,233)(1,235)(1,540)
Financial services costs(5,310)(5,283)(5,384)
Gross profit:6,8655,0036,6606,2366,3905,8155,263
Operating expenses(2,931)(4,793)(4,950)(4,828)(4,162)(4,343)(4,499)
Operating income:3,9342101,7101,4082,2281,472764
Interest and debt expense(424)(515)(591)(574)(646)(536)(520)
Other undisclosed loss from continuing operations before equity method investments, income taxes(1,328)(1,159)     
Income (loss) from continuing operations before income taxes:2,182(1,464)1,1198341,582936244
Income tax expense (benefit)(479)173(248)(128)(170)(220)43
Net income (loss):1,703(1,291)8717061,412716287
Net income (loss) attributable to noncontrolling interest(125)36061(70)(248)(62)(27)
Net income (loss) attributable to parent:1,578(931)9326361,164654260
Undistributed earnings (loss) allocated to participating securities, basic(266)(252)(297)(208)(903)
Net income (loss) available to common stockholders, diluted:1,312(1,183)635428261654260

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):1,703(1,291)8717061,412716287
Other comprehensive income (loss)(445)727911(892)218153(718)
Comprehensive income (loss):1,258(564)1,782(186)1,630869(431)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(75)282(38)25(269)(81)53
Comprehensive income (loss), net of tax, attributable to parent:1,183(282)1,744(161)1,361788(378)

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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