Loews Corporation(NYSE:L)

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that inc...
Website: http://www.loews.com
Founded: 1969
Full Time Employees: 18,605
Sector: Financial Services
Industry: Insurance-Property & Casualty
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 |
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revenues: | |||||||||||||||||||||||||||||||||
insurance premiums | 2,699,000,000 | 2,797,000,000 | 2,783,000,000 | 2,694,000,000 | 2,626,000,000 | 2,679,000,000 | 2,593,000,000 | 2,498,000,000 | 2,441,000,000 | 2,479,000,000 | 2,406,000,000 | 2,347,000,000 | 2,248,000,000 | 2,232,000,000 | 2,221,000,000 | 2,155,000,000 | 2,059,000,000 | 2,119,000,000 | 2,059,000,000 | 2,035,000,000 | 1,962,000,000 | 1,977,000,000 | 1,953,000,000 | 1,850,000,000 | 1,869,000,000 | 1,911,000,000 | 1,890,000,000 | 1,824,000,000 | 1,803,000,000 | 1,859,000,000 | 1,853,000,000 | 1,815,000,000 | 1,785,000,000 |
net investment income | 613,000,000 | 714,000,000 | 743,000,000 | 714,000,000 | 608,000,000 | 696,000,000 | 776,000,000 | 639,000,000 | 669,000,000 | 643,000,000 | 592,000,000 | 592,000,000 | 569,000,000 | 600,000,000 | 404,000,000 | 366,000,000 | 432,000,000 | 610,000,000 | 483,000,000 | 616,000,000 | 550,000,000 | 648,000,000 | 540,000,000 | 644,000,000 | 163,000,000 | 622,000,000 | 525,000,000 | 551,000,000 | 657,000,000 | 266,000,000 | 494,000,000 | 551,000,000 | 506,000,000 |
investment losses | -18,000,000 | -19,000,000 | -7,000,000 | -46,000,000 | -9,000,000 | -39,000,000 | -10,000,000 | -22,000,000 | -14,750,000 | -38,000,000 | -35,000,000 | ||||||||||||||||||||||
non-insurance warranty revenue | 374,000,000 | 389,000,000 | 393,000,000 | 398,000,000 | 397,000,000 | 397,000,000 | 401,000,000 | 404,000,000 | 407,000,000 | 403,000,000 | 407,000,000 | 407,000,000 | 407,000,000 | 401,000,000 | 399,000,000 | 392,000,000 | 382,000,000 | 376,000,000 | 357,000,000 | 359,000,000 | 338,000,000 | 326,000,000 | 317,000,000 | 308,000,000 | 301,000,000 | 303,000,000 | 292,000,000 | 285,000,000 | 281,000,000 | ||||
operating revenues and other | 887,000,000 | 853,000,000 | 759,000,000 | 795,000,000 | 872,000,000 | 813,000,000 | 706,000,000 | 736,000,000 | 736,000,000 | 727,000,000 | 559,000,000 | 574,000,000 | 594,000,000 | 593,000,000 | 533,000,000 | 534,000,000 | 540,000,000 | 553,000,000 | 450,000,000 | 415,000,000 | 715,000,000 | 692,000,000 | 609,000,000 | 650,000,000 | 982,000,000 | 1,032,000,000 | 960,000,000 | 961,000,000 | 985,000,000 | 233,000,000 | 1,246,000,000 | 1,227,000,000 | 1,281,000,000 |
yoy | 1.72% | 4.92% | 7.51% | 8.02% | 18.48% | 11.83% | 26.30% | 28.22% | 23.91% | 22.60% | 4.88% | 7.49% | 10.00% | 7.23% | 18.44% | 28.67% | -24.48% | -20.09% | -26.11% | -36.15% | -27.19% | -32.95% | -36.56% | -32.36% | -0.30% | 342.92% | -22.95% | -21.68% | -23.11% | ||||
qoq | 3.99% | 12.38% | -4.53% | -8.83% | 7.26% | 15.16% | -4.08% | 0.00% | 1.24% | 30.05% | -2.61% | -3.37% | 0.17% | 11.26% | -0.19% | -1.11% | -2.35% | 22.89% | 8.43% | -41.96% | 3.32% | 13.63% | -6.31% | -33.81% | -4.84% | 7.50% | -0.10% | -2.44% | 322.75% | -81.30% | 1.55% | -4.22% | |
operating margin % | 19.47% | 18.02% | 16.25% | 17.45% | 19.40% | 17.88% | 15.81% | 17.25% | 17.40% | 17.07% | 14.24% | 14.59% | 15.70% | 15.63% | 15.40% | 15.76% | 15.87% | 15.11% | 13.35% | 10.37% | 19.74% | 18.66% | 17.58% | 28.14% | 31.69% | 26.63% | 26.12% | 26.52% | 26.22% | 7.09% | 34.53% | 34.18% | 35.77% |
total | 4,555,000,000 | 4,734,000,000 | 4,671,000,000 | 4,555,000,000 | 4,494,000,000 | 4,546,000,000 | 4,466,000,000 | 4,267,000,000 | 4,231,000,000 | 4,258,000,000 | 3,926,000,000 | 3,934,000,000 | 3,783,000,000 | 3,793,000,000 | 3,461,000,000 | 3,388,000,000 | 3,402,000,000 | 3,661,000,000 | 3,371,000,000 | 4,003,000,000 | 3,622,000,000 | 3,709,000,000 | 3,465,000,000 | 2,310,000,000 | 3,099,000,000 | 3,876,000,000 | 3,675,000,000 | 3,623,000,000 | 3,757,000,000 | 3,287,000,000 | 3,608,000,000 | 3,590,000,000 | 3,581,000,000 |
yoy | 1.36% | 4.14% | 4.59% | 6.75% | 6.22% | 6.76% | 13.75% | 8.46% | 11.84% | 12.26% | 13.44% | 16.12% | 11.20% | 3.61% | 2.67% | -15.36% | -6.07% | -1.29% | -2.71% | 73.29% | 16.88% | -4.31% | -5.71% | -36.24% | -17.51% | 17.92% | 1.86% | 0.92% | 4.91% | ||||
qoq | -3.78% | 1.35% | 2.55% | 1.36% | -1.14% | 1.79% | 4.66% | 0.85% | -0.63% | 8.46% | -0.20% | 3.99% | -0.26% | 9.59% | 2.15% | -0.41% | -7.07% | 8.60% | -15.79% | 10.52% | -2.35% | 7.04% | 50.00% | -25.46% | -20.05% | 5.47% | 1.44% | -3.57% | 14.30% | -8.90% | 0.50% | 0.25% | |
expenses: | |||||||||||||||||||||||||||||||||
insurance claims and policyholders’ benefits | 2,175,000,000 | 2,150,000,000 | 2,032,000,000 | 2,085,000,000 | 2,027,000,000 | 2,030,000,000 | 2,019,000,000 | 1,882,000,000 | 1,807,000,000 | 1,810,000,000 | 1,826,000,000 | 1,779,000,000 | 1,653,000,000 | 1,683,000,000 | 1,665,000,000 | 1,583,000,000 | 1,455,000,000 | 1,665,000,000 | 1,632,000,000 | 1,546,000,000 | 1,506,000,000 | 1,487,000,000 | 1,616,000,000 | 1,642,000,000 | 1,425,000,000 | 1,483,000,000 | 1,614,000,000 | 1,352,000,000 | 1,357,000,000 | 1,594,000,000 | 1,312,000,000 | 1,327,000,000 | 1,339,000,000 |
amortization of deferred acquisition costs | 476,000,000 | 475,000,000 | 483,000,000 | 469,000,000 | 471,000,000 | 462,000,000 | 457,000,000 | 435,000,000 | 444,000,000 | 436,000,000 | 426,000,000 | 403,000,000 | 379,000,000 | 389,000,000 | 383,000,000 | 374,000,000 | 344,000,000 | 359,000,000 | 368,000,000 | 357,000,000 | 359,000,000 | 364,000,000 | 360,000,000 | 342,000,000 | 344,000,000 | 358,000,000 | 345,000,000 | 338,000,000 | 342,000,000 | 343,000,000 | 337,000,000 | 359,000,000 | 296,000,000 |
non-insurance warranty expense | 356,000,000 | 380,000,000 | 377,000,000 | 384,000,000 | 385,000,000 | 378,000,000 | 387,000,000 | 388,000,000 | 394,000,000 | 390,000,000 | 386,000,000 | 384,000,000 | 384,000,000 | 379,000,000 | 371,000,000 | 367,000,000 | 354,000,000 | 355,000,000 | 330,000,000 | 332,000,000 | 311,000,000 | 300,000,000 | 293,000,000 | 285,000,000 | 281,000,000 | 281,000,000 | 278,000,000 | 263,000,000 | 260,000,000 | ||||
operating expenses and other | 1,009,000,000 | 1,110,000,000 | 1,000,000,000 | 989,000,000 | 991,000,000 | 1,392,000,000 | 930,000,000 | 968,000,000 | 880,000,000 | 944,000,000 | 860,000,000 | 808,000,000 | 781,000,000 | 911,000,000 | 760,000,000 | 715,000,000 | 691,000,000 | 723,000,000 | 638,000,000 | 656,000,000 | 914,000,000 | 899,000,000 | 876,000,000 | 992,000,000 | 2,026,000,000 | 1,336,000,000 | 1,234,000,000 | 1,231,000,000 | 1,149,000,000 | 515,000,000 | 1,459,000,000 | 1,454,000,000 | 1,400,000,000 |
equity method loss | -37,000,000 | -9,750,000 | -22,000,000 | 1,000,000 | -11,000,000 | 9,000,000 | |||||||||||||||||||||||||||
interest | 113,000,000 | 113,000,000 | 112,000,000 | 107,000,000 | 105,000,000 | 110,000,000 | 114,000,000 | 114,000,000 | 103,000,000 | 96,000,000 | 94,000,000 | 91,000,000 | 95,000,000 | 94,000,000 | 92,000,000 | 96,000,000 | 96,000,000 | 100,000,000 | 99,000,000 | 100,000,000 | 125,000,000 | 111,000,000 | 137,000,000 | 123,000,000 | 144,000,000 | 142,000,000 | 144,000,000 | 164,000,000 | 141,000,000 | 144,000,000 | 146,000,000 | 143,000,000 | 141,000,000 |
income before income tax | 463,000,000 | 541,000,000 | 689,000,000 | 539,000,000 | 514,000,000 | 188,000,000 | 550,000,000 | 507,000,000 | 629,000,000 | 613,000,000 | 356,000,000 | 508,000,000 | 519,000,000 | 476,000,000 | 190,000,000 | 253,000,000 | 462,000,000 | 459,000,000 | 304,000,000 | 1,012,000,000 | 407,000,000 | 548,000,000 | 183,000,000 | -1,074,000,000 | -1,121,000,000 | 276,000,000 | 60,000,000 | 275,000,000 | 508,000,000 | -232,000,000 | 354,000,000 | 307,000,000 | 405,000,000 |
income tax expense | -109,000,000 | -113,000,000 | -153,000,000 | -123,000,000 | -122,000,000 | 1,000,000 | -125,000,000 | -112,000,000 | -144,000,000 | -136,000,000 | -80,000,000 | -120,000,000 | -115,000,000 | -47,500,000 | -47,000,000 | -51,000,000 | -92,000,000 | -65,000,000 | -21,000,000 | -50,000,000 | -112,000,000 | 21,000,000 | -65,000,000 | -59,000,000 | -25,000,000 | ||||||||
net income | 354,000,000 | 428,000,000 | 536,000,000 | 416,000,000 | 392,000,000 | 189,000,000 | 425,000,000 | 395,000,000 | 485,000,000 | 477,000,000 | 276,000,000 | 388,000,000 | 404,000,000 | 388,000,000 | 143,000,000 | 202,000,000 | 370,000,000 | 371,000,000 | 246,000,000 | 793,000,000 | 293,000,000 | 437,000,000 | 162,000,000 | -846,000,000 | -1,044,000,000 | 211,000,000 | 39,000,000 | 225,000,000 | 396,000,000 | -211,000,000 | 289,000,000 | 248,000,000 | 380,000,000 |
yoy | -9.69% | 126.46% | 26.12% | 5.32% | -19.18% | -60.38% | 53.99% | 1.80% | 20.05% | 22.94% | 93.01% | 92.08% | 9.19% | 4.58% | -41.87% | -74.53% | 26.28% | -15.10% | 51.85% | -193.74% | -128.07% | 107.11% | 315.38% | -476.00% | -363.64% | -200.00% | -86.51% | -9.27% | 4.21% | ||||
qoq | -17.29% | -20.15% | 28.85% | 6.12% | 107.41% | -55.53% | 7.59% | -18.56% | 1.68% | 72.83% | -28.87% | -3.96% | 4.12% | 171.33% | -29.21% | -45.41% | -0.27% | 50.81% | -68.98% | 170.65% | -32.95% | 169.75% | -119.15% | -18.97% | -594.79% | 441.03% | -82.67% | -43.18% | -287.68% | -173.01% | 16.53% | -34.74% | |
net income margin % | 7.77% | 9.04% | 11.48% | 9.13% | 8.72% | 4.16% | 9.52% | 9.26% | 11.46% | 11.20% | 7.03% | 9.86% | 10.68% | 10.23% | 4.13% | 5.96% | 10.88% | 10.13% | 7.30% | 19.81% | 8.09% | 11.78% | 4.68% | -36.62% | -33.69% | 5.44% | 1.06% | 6.21% | 10.54% | -6.42% | 8.01% | 6.91% | 10.61% |
amounts attributable to noncontrolling interests | -17,000,000 | -26,000,000 | -32,000,000 | -25,000,000 | -22,000,000 | -2,000,000 | -24,000,000 | -26,000,000 | -28,000,000 | -31,000,000 | -23,000,000 | -28,000,000 | -29,000,000 | -24,000,000 | -13,000,000 | -22,000,000 | -32,000,000 | -28,000,000 | -26,000,000 | -39,000,000 | -32,000,000 | -40,000,000 | -23,000,000 | 11,000,000 | 412,000,000 | 6,000,000 | 33,000,000 | 24,000,000 | -2,000,000 | 46,000,000 | -11,000,000 | -18,000,000 | -87,000,000 |
net income attributable to loews corporation | 337,000,000 | 402,000,000 | 504,000,000 | 391,000,000 | 370,000,000 | 187,000,000 | 401,000,000 | 369,000,000 | 457,000,000 | 446,000,000 | 253,000,000 | 360,000,000 | 375,000,000 | 364,000,000 | 130,000,000 | 180,000,000 | 338,000,000 | 343,000,000 | 220,000,000 | 754,000,000 | 261,000,000 | 397,000,000 | 139,000,000 | -835,000,000 | -632,000,000 | 217,000,000 | 72,000,000 | 249,000,000 | 394,000,000 | -165,000,000 | 278,000,000 | 230,000,000 | 293,000,000 |
basic and diluted net income per share | 1.63 | 1.87 | 1.74 | 1.67 | 2.05 | 1.58 | -1.175 | 0.5 | -2.2 | 1.27 | |||||||||||||||||||||||
weighted-average shares outstanding: | |||||||||||||||||||||||||||||||||
shares of common stock | 206.18 | 52.435 | 207.57 | 209.24 | 212.45 | 55.29 | 219.67 | 221.35 | 222.47 | 57.213 | 225.64 | 227.69 | 233.3 | 61.143 | 240.37 | 245.45 | 247.97 | 65.568 | 256.76 | 262.76 | 267.39 | 70.658 | 279.4 | 281.48 | 287.04 | 76.27 | 301.65 | 303.84 | 309.83 | 80.203 | 315.9 | 318.87 | 327.78 |
dilutive potential shares of common stock | 0.09 | 0.035 | 0.14 | 0.12 | 0.15 | 0.068 | 0.27 | 0.25 | 0.31 | 0.078 | 0.35 | 0.28 | 0.32 | 0.115 | 0.39 | 0.49 | 0.51 | 0.125 | 0.54 | 0.58 | 0.37 | 0.09 | 0.163 | 0.7 | 0.7 | 0.53 | 0.23 | 0.91 | 0.91 | 0.94 | |||
total weighted-average shares outstanding assuming dilution | 206.27 | 207.71 | 209.36 | 212.6 | 219.94 | 221.6 | 222.78 | 225.99 | 227.97 | 233.62 | 240.76 | 245.94 | 248.48 | 257.3 | 263.34 | 267.76 | 279.49 | 281.48 | 287.04 | 302.35 | 304.54 | 310.36 | 316.81 | 319.78 | 328.72 | ||||||||
basic net income per share | 1.95 | 2.43 | 0.87 | 1.83 | 1.98 | 1.12 | 1.61 | 1.52 | 0.54 | 0.73 | 1.36 | 1.37 | 0.86 | 2.87 | 0.98 | -2.96 | 0.585 | 0.24 | 0.82 | 0.625 | 0.88 | 0.72 | 0.89 | ||||||||||
diluted net income per share | 1.94 | 2.43 | 0.87 | 1.82 | 1.98 | 1.12 | 1.61 | 1.52 | 0.54 | 0.73 | 1.36 | 1.37 | 0.85 | 2.86 | 0.97 | -2.96 | 0.585 | 0.24 | 0.82 | 0.623 | 0.88 | 0.72 | 0.89 | ||||||||||
equity method income | -18,000,000 | -27,000,000 | -26,000,000 | -31,000,000 | -22,000,000 | -39,000,000 | -28,000,000 | ||||||||||||||||||||||||||
investment gains | -10,000,000 | 14,000,000 | -33,000,000 | -96,000,000 | -59,000,000 | -11,000,000 | 3,000,000 | 22,000,000 | 578,000,000 | 57,000,000 | 66,000,000 | 46,000,000 | -1,142,000,000 | -216,000,000 | |||||||||||||||||||
income tax benefit | -88,000,000 | -58,000,000 | -219,000,000 | -114,000,000 | -111,000,000 | -21,000,000 | 228,000,000 | 77,000,000 | |||||||||||||||||||||||||
other-than-temporary impairment losses | -10,000,000 | -14,000,000 | -6,000,000 | -14,000,000 | -12,000,000 | -3,000,000 | -6,000,000 | ||||||||||||||||||||||||||
other net investment gains | 18,000,000 | 22,000,000 | 8,000,000 | 45,000,000 | -66,000,000 | 18,000,000 | -3,000,000 | 15,000,000 | |||||||||||||||||||||||||
total investment gains | 8,000,000 | 8,000,000 | 2,000,000 | 31,000,000 | -78,000,000 | 15,000,000 | -3,000,000 | 9,000,000 | |||||||||||||||||||||||||
dividends per share | 0.047 | 0.063 | 0.063 | 0.063 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-09-30 | 2010-03-31 | 2009-06-30 | 2009-03-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 |
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assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 45,400 and 45,250, less allowance for credit loss of 75 and 69 | 43,570,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,372 and 1,201 | 1,354,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
limited partnership investments | 2,912,000,000 | 2,861,000,000 | 2,801,000,000 | 2,754,000,000 | 2,572,000,000 | 2,520,000,000 | 2,462,000,000 | 2,367,000,000 | 2,274,000,000 | 2,174,000,000 | 2,074,000,000 | 2,020,000,000 | 2,011,000,000 | 1,954,000,000 | 1,975,000,000 | 1,941,000,000 | 1,917,000,000 | 1,933,000,000 | 1,996,000,000 | 1,898,000,000 | 1,769,000,000 | 1,798,000,000 | 1,758,000,000 | 1,742,000,000 | 1,730,000,000 | 2,004,000,000 | 2,012,000,000 | 2,036,000,000 | 2,120,000,000 | 2,424,000,000 | 2,832,000,000 | 3,310,000,000 | 3,291,000,000 | 3,201,000,000 | 3,254,000,000 | 3,258,000,000 | 3,293,000,000 | 3,355,000,000 | 3,301,000,000 | 3,495,000,000 | 3,714,000,000 | 3,749,000,000 | 3,658,000,000 | 3,561,000,000 | 3,512,000,000 | 3,465,000,000 | 3,207,000,000 | 2,743,000,000 | 2,909,000,000 | 2,953,000,000 | 3,130,000,000 | 3,025,000,000 | 2,648,000,000 | 2,164,000,000 | 1,975,000,000 | 1,768,000,000 | 2,207,000,000 | 2,428,000,000 | 2,347,000,000 |
other invested assets, primarily mortgage loans, less allowance for credit loss of 15 and 15 | 1,177,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
short-term investments | 5,274,000,000 | 6,044,000,000 | 5,383,000,000 | 4,452,000,000 | 4,354,000,000 | 4,606,000,000 | 5,242,000,000 | 4,916,000,000 | 5,388,000,000 | 4,396,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
total investments | 54,287,000,000 | 55,376,000,000 | 54,758,000,000 | 52,995,000,000 | 51,993,000,000 | 51,130,000,000 | 53,069,000,000 | 50,346,000,000 | 50,723,000,000 | 49,369,000,000 | 46,413,000,000 | 47,563,000,000 | 47,589,000,000 | 46,768,000,000 | 45,997,000,000 | 48,075,000,000 | 51,102,000,000 | 53,938,000,000 | 54,043,000,000 | 54,374,000,000 | 52,359,000,000 | 53,844,000,000 | 52,772,000,000 | 51,486,000,000 | 47,842,000,000 | 51,250,000,000 | 51,387,000,000 | 50,740,000,000 | 49,468,000,000 | 48,186,000,000 | 48,695,000,000 | 50,469,000,000 | 51,065,000,000 | 52,134,000,000 | 51,606,000,000 | 51,022,000,000 | 52,385,000,000 | 52,359,000,000 | 50,650,000,000 | 50,550,000,000 | 51,048,000,000 | 52,192,000,000 | 52,644,000,000 | 52,951,000,000 | 52,063,000,000 | 52,358,000,000 | 53,184,000,000 | 51,075,000,000 | 50,958,000,000 | 49,625,000,000 | 48,884,000,000 | 48,632,000,000 | 48,842,000,000 | 47,502,000,000 | 41,313,000,000 | 39,091,000,000 | 42,278,000,000 | 45,358,000,000 | 47,429,000,000 |
cash | 843,000,000 | 495,000,000 | 567,000,000 | 447,000,000 | 560,000,000 | 541,000,000 | 548,000,000 | 470,000,000 | 556,000,000 | 399,000,000 | 762,000,000 | 463,000,000 | 594,000,000 | 532,000,000 | 886,000,000 | 951,000,000 | 798,000,000 | 621,000,000 | 811,000,000 | 578,000,000 | 660,000,000 | 478,000,000 | 886,000,000 | 668,000,000 | 939,000,000 | 336,000,000 | 442,000,000 | 440,000,000 | 339,000,000 | 405,000,000 | 571,000,000 | 453,000,000 | 451,000,000 | 416,000,000 | 357,000,000 | 412,000,000 | 344,000,000 | 348,000,000 | 308,000,000 | 328,000,000 | 249,000,000 | 271,000,000 | 637,000,000 | 277,000,000 | 301,000,000 | 257,000,000 | 179,000,000 | 136,000,000 | 99,000,000 | 128,000,000 | 148,000,000 | 123,000,000 | 132,000,000 | 135,000,000 | 136,000,000 | 138,000,000 | 236,000,000 | 168,000,000 | 207,000,000 |
receivables | 10,990,000,000 | 10,983,000,000 | 10,936,000,000 | 11,357,000,000 | 10,790,000,000 | 10,522,000,000 | 10,138,000,000 | 10,280,000,000 | 9,754,000,000 | 9,660,000,000 | 9,437,000,000 | 9,926,000,000 | 9,416,000,000 | 9,403,000,000 | 9,458,000,000 | 9,701,000,000 | 9,259,000,000 | 9,273,000,000 | 9,187,000,000 | 9,162,000,000 | 8,539,000,000 | 7,833,000,000 | 7,850,000,000 | 8,431,000,000 | 8,136,000,000 | 7,675,000,000 | 7,622,000,000 | 8,144,000,000 | 8,012,000,000 | 7,960,000,000 | 7,836,000,000 | 8,217,000,000 | 7,893,000,000 | 7,792,000,000 | 7,977,000,000 | 7,783,000,000 | 7,853,000,000 | 8,616,000,000 | 8,227,000,000 | 8,079,000,000 | 8,097,000,000 | 8,157,000,000 | 8,185,000,000 | 8,441,000,000 | 8,355,000,000 | 9,023,000,000 | 9,605,000,000 | 9,145,000,000 | 9,409,000,000 | 10,109,000,000 | 10,133,000,000 | 10,182,000,000 | 11,091,000,000 | 10,000,000,000 | 11,529,000,000 | 11,334,000,000 | 12,201,000,000 | 11,965,000,000 | 11,959,000,000 |
property, plant and equipment | 10,775,000,000 | 10,695,000,000 | 10,668,000,000 | 10,666,000,000 | 10,674,000,000 | 10,738,000,000 | 10,689,000,000 | 10,710,000,000 | 10,723,000,000 | 10,718,000,000 | 10,674,000,000 | 10,328,000,000 | 10,098,000,000 | 10,027,000,000 | 9,949,000,000 | 9,962,000,000 | 9,896,000,000 | 9,888,000,000 | 9,878,000,000 | 9,847,000,000 | 9,921,000,000 | 10,451,000,000 | 10,468,000,000 | 10,475,000,000 | 14,751,000,000 | 15,568,000,000 | 15,561,000,000 | 15,513,000,000 | 15,407,000,000 | 15,511,000,000 | 15,467,000,000 | 15,471,000,000 | 15,461,000,000 | 15,475,000,000 | 15,447,000,000 | 15,160,000,000 | 15,200,000,000 | 15,126,000,000 | 15,351,000,000 | 15,902,000,000 | 15,917,000,000 | 15,376,000,000 | 14,411,000,000 | 14,133,000,000 | 14,974,000,000 | 14,381,000,000 | 14,204,000,000 | 13,709,000,000 | 13,522,000,000 | 12,935,000,000 | 12,456,000,000 | 12,543,000,000 | 12,619,000,000 | 13,249,000,000 | 12,671,000,000 | 12,160,000,000 | 12,809,000,000 | 11,782,000,000 | 11,086,000,000 |
goodwill | 348,000,000 | 349,000,000 | 349,000,000 | 349,000,000 | 347,000,000 | 347,000,000 | 349,000,000 | 347,000,000 | 347,000,000 | 347,000,000 | 346,000,000 | 347,000,000 | 346,000,000 | 346,000,000 | 344,000,000 | 346,000,000 | 348,000,000 | 349,000,000 | 349,000,000 | 350,000,000 | 349,000,000 | 785,000,000 | 765,000,000 | 764,000,000 | 763,000,000 | 767,000,000 | 772,000,000 | 768,000,000 | 682,000,000 | 665,000,000 | 657,000,000 | 658,000,000 | 661,000,000 | 648,000,000 | 647,000,000 | 346,000,000 | 347,000,000 | 348,000,000 | 350,000,000 | 352,000,000 | 373,000,000 | 371,000,000 | 353,000,000 | 355,000,000 | 354,000,000 | 991,000,000 | 993,000,000 | 908,000,000 | 908,000,000 | 856,000,000 | 856,000,000 | 856,000,000 | 856,000,000 | 856,000,000 | 856,000,000 | ||||
deferred non-insurance warranty acquisition expenses | 3,098,000,000 | 3,220,000,000 | 3,340,000,000 | 3,441,000,000 | 3,493,000,000 | 3,525,000,000 | 3,571,000,000 | 3,598,000,000 | 3,621,000,000 | 3,661,000,000 | 3,688,000,000 | 3,689,000,000 | 3,671,000,000 | 3,671,000,000 | 3,653,000,000 | 3,593,000,000 | 3,504,000,000 | 3,476,000,000 | 3,418,000,000 | 3,305,000,000 | 3,149,000,000 | 3,068,000,000 | 2,998,000,000 | 2,916,000,000 | 2,905,000,000 | 2,840,000,000 | 2,772,000,000 | 2,678,000,000 | 2,576,000,000 | 2,513,000,000 | |||||||||||||||||||||||||||||
deferred acquisition costs of insurance subsidiaries | 1,008,000,000 | 986,000,000 | 985,000,000 | 1,021,000,000 | 999,000,000 | 959,000,000 | 943,000,000 | 948,000,000 | 927,000,000 | 896,000,000 | 880,000,000 | 885,000,000 | 852,000,000 | 806,000,000 | 787,000,000 | 792,000,000 | 766,000,000 | 737,000,000 | 721,000,000 | 721,000,000 | 741,000,000 | 708,000,000 | 697,000,000 | 699,000,000 | 683,000,000 | 662,000,000 | 668,000,000 | 681,000,000 | 664,000,000 | 633,000,000 | 654,000,000 | 673,000,000 | 665,000,000 | 643,000,000 | 647,000,000 | 626,000,000 | 619,000,000 | 620,000,000 | 622,000,000 | 606,000,000 | 621,000,000 | 616,000,000 | 627,000,000 | 650,000,000 | 652,000,000 | 642,000,000 | 641,000,000 | 584,000,000 | 576,000,000 | 783,000,000 | 1,106,000,000 | 1,098,000,000 | 1,096,000,000 | 1,109,000,000 | 1,145,000,000 | 1,132,000,000 | 1,157,000,000 | 1,167,000,000 | 1,158,000,000 |
other assets | 4,303,000,000 | 4,244,000,000 | 4,338,000,000 | 4,392,000,000 | 4,286,000,000 | 4,181,000,000 | 4,310,000,000 | 4,358,000,000 | 4,255,000,000 | 4,147,000,000 | 4,269,000,000 | 4,146,000,000 | 3,994,000,000 | 3,941,000,000 | 4,037,000,000 | 3,651,000,000 | 3,471,000,000 | 3,344,000,000 | 3,319,000,000 | 3,271,000,000 | 2,501,000,000 | 3,069,000,000 | 3,028,000,000 | 3,000,000,000 | 3,235,000,000 | 3,145,000,000 | 3,275,000,000 | 3,313,000,000 | 3,301,000,000 | 2,443,000,000 | 4,845,000,000 | 4,791,000,000 | 4,590,000,000 | 2,419,000,000 | 2,420,000,000 | 1,765,000,000 | 1,760,000,000 | 1,766,000,000 | 1,716,000,000 | 1,715,000,000 | 1,710,000,000 | 1,640,000,000 | 1,672,000,000 | 1,681,000,000 | 1,618,000,000 | 1,645,000,000 | 1,529,000,000 | 1,401,000,000 | 1,366,000,000 | 1,451,000,000 | 2,036,000,000 | 1,959,000,000 | 1,723,000,000 | 1,693,000,000 | 1,378,000,000 | 1,416,000,000 | 1,481,000,000 | 1,502,000,000 | 1,789,000,000 |
total assets | 85,652,000,000 | 86,348,000,000 | 85,941,000,000 | 84,668,000,000 | 83,142,000,000 | 81,943,000,000 | 83,617,000,000 | 81,057,000,000 | 80,906,000,000 | 79,197,000,000 | 76,469,000,000 | 77,347,000,000 | 76,560,000,000 | 75,494,000,000 | 75,111,000,000 | 77,071,000,000 | 79,144,000,000 | 81,626,000,000 | 81,726,000,000 | 81,608,000,000 | 80,005,000,000 | 80,236,000,000 | 79,464,000,000 | 78,439,000,000 | 79,254,000,000 | 82,243,000,000 | 82,499,000,000 | 82,277,000,000 | 80,449,000,000 | 78,316,000,000 | 78,725,000,000 | 80,732,000,000 | 80,786,000,000 | 79,527,000,000 | 79,101,000,000 | 77,114,000,000 | 78,508,000,000 | 79,183,000,000 | 77,224,000,000 | 77,532,000,000 | 78,015,000,000 | 78,623,000,000 | 78,529,000,000 | 82,894,000,000 | 81,803,000,000 | 79,510,000,000 | 80,614,000,000 | 77,328,000,000 | 77,240,000,000 | 76,305,000,000 | 76,069,000,000 | 75,967,000,000 | 76,821,000,000 | 75,855,000,000 | 71,630,000,000 | 69,667,000,000 | 73,417,000,000 | 74,782,000,000 | 76,892,000,000 |
liabilities and equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
insurance reserves: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
claim and claim adjustment expense | 26,933,000,000 | 26,599,000,000 | 26,525,000,000 | 26,203,000,000 | 25,581,000,000 | 24,976,000,000 | 24,558,000,000 | 23,974,000,000 | 23,588,000,000 | 23,304,000,000 | 22,836,000,000 | 22,802,000,000 | 22,409,000,000 | 24,700,000,000 | 24,559,000,000 | 24,348,000,000 | 24,174,000,000 | 23,832,000,000 | 23,480,000,000 | 23,056,000,000 | 22,706,000,000 | 22,534,000,000 | 22,270,000,000 | 21,872,000,000 | 21,596,000,000 | 21,729,000,000 | 21,836,000,000 | 21,984,000,000 | 21,604,000,000 | 21,990,000,000 | 22,067,000,000 | 22,209,000,000 | 22,179,000,000 | 22,260,000,000 | 22,672,000,000 | 22,975,000,000 | 23,018,000,000 | 22,867,000,000 | 23,193,000,000 | 23,248,000,000 | 23,475,000,000 | 23,996,000,000 | 23,933,000,000 | 23,962,000,000 | 24,511,000,000 | 24,007,000,000 | 24,203,000,000 | 25,031,000,000 | 25,196,000,000 | 25,352,000,000 | 25,783,000,000 | 26,559,000,000 | 27,100,000,000 | 27,243,000,000 | 28,023,000,000 | 28,202,000,000 | 28,502,000,000 | ||
future policy benefits | 13,195,000,000 | 13,448,000,000 | 13,546,000,000 | 13,329,000,000 | 13,304,000,000 | 13,158,000,000 | 14,047,000,000 | 13,211,000,000 | 13,513,000,000 | 13,959,000,000 | 12,654,000,000 | 13,666,000,000 | 13,976,000,000 | 10,454,000,000 | 10,926,000,000 | 11,938,000,000 | 13,236,000,000 | 13,198,000,000 | 13,285,000,000 | 12,772,000,000 | 13,318,000,000 | 12,978,000,000 | 12,596,000,000 | 11,734,000,000 | 12,305,000,000 | 11,537,000,000 | 11,078,000,000 | 10,597,000,000 | 10,605,000,000 | 10,667,000,000 | 10,783,000,000 | 11,040,000,000 | 10,824,000,000 | 10,491,000,000 | 11,219,000,000 | 11,140,000,000 | 10,500,000,000 | 9,520,000,000 | 9,360,000,000 | 9,747,000,000 | 8,890,000,000 | 8,696,000,000 | 8,254,000,000 | 10,681,000,000 | 11,469,000,000 | 10,352,000,000 | 9,959,000,000 | 9,258,000,000 | 9,021,000,000 | 8,842,000,000 | 8,372,000,000 | 8,090,000,000 | 7,746,000,000 | 7,634,000,000 | 7,442,000,000 | 7,326,000,000 | 7,209,000,000 | ||
unearned premiums | 7,646,000,000 | 7,635,000,000 | 7,578,000,000 | 7,890,000,000 | 7,504,000,000 | 7,346,000,000 | 7,259,000,000 | 7,409,000,000 | 7,046,000,000 | 6,933,000,000 | 6,789,000,000 | 6,978,000,000 | 6,581,000,000 | 6,195,000,000 | 6,289,000,000 | 5,942,000,000 | 5,761,000,000 | 5,577,000,000 | 5,592,000,000 | 5,319,000,000 | 5,119,000,000 | 5,020,000,000 | 4,996,000,000 | 4,745,000,000 | 4,608,000,000 | 4,648,000,000 | 4,422,000,000 | 4,183,000,000 | 4,289,000,000 | 4,410,000,000 | 4,256,000,000 | 4,060,000,000 | 4,107,000,000 | 3,912,000,000 | 3,862,000,000 | 3,865,000,000 | 3,807,000,000 | 3,706,000,000 | 3,815,000,000 | 3,710,000,000 | 3,703,000,000 | 3,851,000,000 | 3,838,000,000 | 3,820,000,000 | 3,759,000,000 | 3,478,000,000 | 3,383,000,000 | 3,386,000,000 | 3,409,000,000 | 3,321,000,000 | 3,265,000,000 | 3,283,000,000 | 3,508,000,000 | 3,461,000,000 | 3,549,000,000 | 3,644,000,000 | 3,577,000,000 | ||
total insurance reserves | 47,774,000,000 | 47,682,000,000 | 47,649,000,000 | 47,422,000,000 | 46,389,000,000 | 45,480,000,000 | 45,864,000,000 | 44,594,000,000 | 44,147,000,000 | 44,196,000,000 | 42,279,000,000 | 43,446,000,000 | 42,966,000,000 | 41,349,000,000 | 41,774,000,000 | 42,228,000,000 | 43,171,000,000 | 42,607,000,000 | 42,357,000,000 | 41,147,000,000 | 41,143,000,000 | 40,532,000,000 | 39,862,000,000 | 38,351,000,000 | 38,509,000,000 | 37,914,000,000 | 37,336,000,000 | 36,764,000,000 | 36,498,000,000 | 37,067,000,000 | 37,106,000,000 | 37,309,000,000 | 37,110,000,000 | 36,663,000,000 | 37,753,000,000 | 37,980,000,000 | 37,325,000,000 | 36,093,000,000 | 36,368,000,000 | 36,705,000,000 | 36,095,000,000 | 36,570,000,000 | 36,051,000,000 | 38,590,000,000 | 39,893,000,000 | 38,004,000,000 | 37,714,000,000 | 37,851,000,000 | 37,792,000,000 | 37,680,000,000 | 37,584,000,000 | 38,109,000,000 | 38,571,000,000 | 38,591,000,000 | 39,468,000,000 | 39,754,000,000 | 40,147,000,000 | ||
payable to brokers | 206,000,000 | 53,000,000 | 133,000,000 | 374,000,000 | 206,000,000 | 110,000,000 | 269,000,000 | 130,000,000 | 202,000,000 | 79,000,000 | 444,000,000 | 191,000,000 | 220,000,000 | 359,000,000 | 320,000,000 | 396,000,000 | 90,000,000 | 665,000,000 | 654,000,000 | 310,000,000 | 92,000,000 | 466,000,000 | 985,000,000 | 249,000,000 | 242,000,000 | 576,000,000 | 307,000,000 | 42,000,000 | 217,000,000 | 311,000,000 | 280,000,000 | 324,000,000 | 478,000,000 | 302,000,000 | 451,000,000 | 1,310,000,000 | 630,000,000 | 733,000,000 | 741,000,000 | 926,000,000 | 663,000,000 | 815,000,000 | 882,000,000 | 326,000,000 | 738,000,000 | 395,000,000 | 920,000,000 | 567,000,000 | 558,000,000 | 419,000,000 | 968,000,000 | 662,000,000 | 930,000,000 | 869,000,000 | 1,593,000,000 | 1,971,000,000 | 881,000,000 | ||
short-term debt | 1,000,000 | 1,052,000,000 | 1,005,000,000 | 1,005,000,000 | 505,000,000 | 5,000,000 | 713,000,000 | 1,013,000,000 | 1,678,000,000 | 1,084,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
long-term debt | 8,933,000,000 | 8,437,000,000 | 8,438,000,000 | 7,942,000,000 | 8,441,000,000 | 8,939,000,000 | 8,821,000,000 | 8,558,000,000 | 8,425,000,000 | 7,919,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
deferred income taxes | 793,000,000 | 839,000,000 | 836,000,000 | 633,000,000 | 613,000,000 | 550,000,000 | 697,000,000 | 502,000,000 | 500,000,000 | 398,000,000 | 258,000,000 | 257,000,000 | 251,000,000 | 245,000,000 | 350,000,000 | 715,000,000 | 1,079,000,000 | 1,089,000,000 | 1,083,000,000 | 924,000,000 | 1,065,000,000 | 913,000,000 | 875,000,000 | 858,000,000 | 1,141,000,000 | 1,227,000,000 | 1,084,000,000 | 841,000,000 | 911,000,000 | 879,000,000 | 734,000,000 | 905,000,000 | 852,000,000 | 785,000,000 | 735,000,000 | 604,000,000 | 540,000,000 | 796,000,000 | 773,000,000 | 930,000,000 | 1,030,000,000 | 996,000,000 | 898,000,000 | 831,000,000 | 895,000,000 | 952,000,000 | 937,000,000 | 802,000,000 | 638,000,000 | 125,000,000 | 557,000,000 | 869,000,000 | 2,189,000,000 | 3,145,000,000 | 1,466,000,000 | 1,026,000,000 | 1,445,000,000 | ||
deferred non-insurance warranty revenue | 3,976,000,000 | 4,138,000,000 | 4,294,000,000 | 4,421,000,000 | 4,488,000,000 | 4,530,000,000 | 4,594,000,000 | 4,623,000,000 | 4,645,000,000 | 4,694,000,000 | 4,736,000,000 | 4,735,000,000 | 4,710,000,000 | 4,706,000,000 | 4,638,000,000 | 4,528,000,000 | 4,503,000,000 | 4,443,000,000 | 4,309,000,000 | 4,119,000,000 | 4,023,000,000 | 3,951,000,000 | 3,852,000,000 | 3,848,000,000 | 3,707,000,000 | 3,595,000,000 | 3,472,000,000 | 3,402,000,000 | |||||||||||||||||||||||||||||||
other liabilities | 4,378,000,000 | 4,506,000,000 | 4,363,000,000 | 4,482,000,000 | 4,466,000,000 | 4,392,000,000 | 4,411,000,000 | 4,436,000,000 | 4,311,000,000 | 4,302,000,000 | 4,408,000,000 | 4,193,000,000 | 4,041,000,000 | 4,510,000,000 | 4,486,000,000 | 4,306,000,000 | 4,529,000,000 | 4,680,000,000 | 4,697,000,000 | 4,375,000,000 | 4,623,000,000 | 4,574,000,000 | 4,447,000,000 | 4,802,000,000 | 5,160,000,000 | 5,028,000,000 | 4,987,000,000 | 4,505,000,000 | 7,753,000,000 | 9,146,000,000 | 7,350,000,000 | 5,195,000,000 | 5,269,000,000 | 4,940,000,000 | 5,241,000,000 | 5,193,000,000 | 5,017,000,000 | 4,987,000,000 | 4,949,000,000 | 4,882,000,000 | 4,724,000,000 | 4,410,000,000 | 4,295,000,000 | 4,754,000,000 | 4,654,000,000 | 4,230,000,000 | 4,104,000,000 | 3,870,000,000 | 3,979,000,000 | 4,481,000,000 | 4,275,000,000 | 5,038,000,000 | 3,928,000,000 | 4,120,000,000 | 3,970,000,000 | 3,803,000,000 | 5,725,000,000 | ||
total liabilities | 66,061,000,000 | 66,707,000,000 | 66,718,000,000 | 66,279,000,000 | 65,108,000,000 | 64,006,000,000 | 65,369,000,000 | 63,856,000,000 | 63,908,000,000 | 62,672,000,000 | 61,311,000,000 | 61,877,000,000 | 61,246,000,000 | 60,458,000,000 | 60,850,000,000 | 61,449,000,000 | 62,451,000,000 | 62,596,000,000 | 62,210,000,000 | 61,468,000,000 | 61,055,000,000 | 60,844,000,000 | 60,026,000,000 | 60,076,000,000 | 60,241,000,000 | 59,883,000,000 | 58,547,000,000 | 56,930,000,000 | 56,839,000,000 | 58,874,000,000 | 56,938,000,000 | 55,166,000,000 | 54,995,000,000 | 53,380,000,000 | 55,102,000,000 | 56,152,000,000 | 54,099,000,000 | 53,379,000,000 | 53,683,000,000 | 53,993,000,000 | 53,413,000,000 | 57,539,000,000 | 56,686,000,000 | 54,689,000,000 | 55,896,000,000 | 53,087,000,000 | 53,119,000,000 | 52,740,000,000 | 52,586,000,000 | 52,522,000,000 | 53,322,000,000 | 53,862,000,000 | 52,868,000,000 | 52,771,000,000 | 53,508,000,000 | 53,747,000,000 | 55,847,000,000 | ||
commitments and contingent liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.10 par value: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
authorized – 100,000,000 shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
authorized – 1,800,000,000 shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 206,054,049 and 206,003,999 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additional paid-in capital | 2,330,000,000 | 2,374,000,000 | 2,469,000,000 | 2,467,000,000 | 2,451,000,000 | 2,490,000,000 | 2,562,000,000 | 2,556,000,000 | 2,547,000,000 | 2,589,000,000 | 2,764,000,000 | 2,728,000,000 | 2,716,000,000 | 2,886,000,000 | 2,869,000,000 | 2,859,000,000 | 2,885,000,000 | 3,120,000,000 | 3,121,000,000 | 3,119,000,000 | 3,133,000,000 | 3,379,000,000 | 3,371,000,000 | 3,347,000,000 | 3,620,000,000 | 3,612,000,000 | 3,607,000,000 | 3,627,000,000 | 3,813,000,000 | 3,809,000,000 | 3,142,000,000 | 3,181,000,000 | 3,178,000,000 | 3,168,000,000 | 3,207,000,000 | 3,197,000,000 | 3,177,000,000 | 3,490,000,000 | 3,483,000,000 | 3,477,000,000 | 3,613,000,000 | 3,608,000,000 | 3,604,000,000 | 3,648,000,000 | 3,589,000,000 | 3,543,000,000 | 3,538,000,000 | 3,658,000,000 | 3,653,000,000 | 3,671,000,000 | 3,758,000,000 | 3,745,000,000 | 3,894,000,000 | 3,896,000,000 | 3,288,000,000 | 3,280,000,000 | 3,973,000,000 | ||
retained earnings | 17,701,000,000 | 17,377,000,000 | 17,690,000,000 | 17,198,000,000 | 16,821,000,000 | 16,459,000,000 | 16,802,000,000 | 16,415,000,000 | 16,060,000,000 | 15,617,000,000 | 15,877,000,000 | 15,637,000,000 | 15,293,000,000 | 15,377,000,000 | 15,261,000,000 | 15,097,000,000 | 14,776,000,000 | 15,336,000,000 | 15,132,000,000 | 14,394,000,000 | 14,150,000,000 | 14,437,000,000 | 14,316,000,000 | 15,167,000,000 | 16,427,000,000 | 16,374,000,000 | 16,144,000,000 | 15,773,000,000 | 16,790,000,000 | 16,532,000,000 | 16,321,000,000 | 15,811,000,000 | 15,677,000,000 | 15,466,000,000 | 15,031,000,000 | 14,724,000,000 | 14,812,000,000 | 15,906,000,000 | 15,747,000,000 | 15,600,000,000 | 15,817,000,000 | 15,633,000,000 | 15,541,000,000 | 15,911,000,000 | 15,410,000,000 | 15,263,000,000 | 15,232,000,000 | 15,282,000,000 | 15,145,000,000 | 14,919,000,000 | 14,433,000,000 | 14,085,000,000 | 13,122,000,000 | ||||||
accumulated other comprehensive loss | -1,298,000,000 | -1,067,000,000 | -1,161,000,000 | -1,502,000,000 | -1,685,000,000 | -1,867,000,000 | -1,738,000,000 | -2,383,000,000 | -2,401,000,000 | -2,497,000,000 | -3,473,000,000 | -3,160,000,000 | -3,062,000,000 | -1,093,000,000 | -390,000,000 | -880,000,000 | -758,000,000 | -625,000,000 | -417,000,000 | -36,000,000 | -149,000,000 | -126,000,000 | -75,000,000 | -1,972,000,000 | |||||||||||||||||||||||||||||||||||
commitments and contingent liabilities - sum | 18,735,000,000 | 19,000,000,000 | 18,165,000,000 | 17,589,000,000 | 17,628,000,000 | 16,590,000,000 | 16,208,000,000 | 15,170,000,000 | 15,207,000,000 | 14,949,000,000 | 14,462,000,000 | 15,622,000,000 | 16,707,000,000 | 18,650,000,000 | 18,583,000,000 | 17,550,000,000 | 18,057,000,000 | 17,695,000,000 | |||||||||||||||||||||||||||||||||||||||||
less treasury stock, at cost | -31,000,000 | -708,000,000 | -651,000,000 | -398,000,000 | -18,000,000 | -271,000,000 | -206,000,000 | -24,000,000 | -7,000,000 | -722,000,000 | -604,000,000 | -498,000,000 | -616,000,000 | -386,000,000 | -132,000,000 | -3,000,000 | -833,000,000 | -500,000,000 | -280,000,000 | -7,000,000 | -685,000,000 | -491,000,000 | -458,000,000 | -647,000,000 | -478,000,000 | -327,000,000 | -5,000,000 | -896,000,000 | -808,000,000 | -517,000,000 | -6,000,000 | -6,000,000 | -115,000,000 | -98,000,000 | -33,000,000 | -633,000,000 | -305,000,000 | -71,000,000 | -415,000,000 | -195,000,000 | -24,000,000 | -228,000,000 | -102,000,000 | 51,000,000 | -705,000,000 | -430,000,000 | -202,000,000 | -353,000,000 | -213,000,000 | 32,000,000 | |||||||||
total shareholders’ equity | 18,704,000,000 | 18,686,000,000 | 18,292,000,000 | 17,514,000,000 | 17,191,000,000 | 17,066,000,000 | 17,357,000,000 | 16,384,000,000 | 16,184,000,000 | 15,704,000,000 | 14,448,000,000 | 14,603,000,000 | 14,451,000,000 | 13,846,000,000 | 15,236,000,000 | 16,575,000,000 | 17,846,000,000 | 17,817,000,000 | 18,083,000,000 | 17,270,000,000 | 17,860,000,000 | 17,372,000,000 | 17,204,000,000 | 16,966,000,000 | 19,420,000,000 | 19,514,000,000 | 19,037,000,000 | 18,518,000,000 | 18,952,000,000 | 18,911,000,000 | 18,532,000,000 | 19,021,000,000 | 18,816,000,000 | 18,488,000,000 | 18,270,000,000 | 17,945,000,000 | 17,833,000,000 | 18,744,000,000 | 18,982,000,000 | 19,308,000,000 | 19,657,000,000 | 19,857,000,000 | 19,688,000,000 | 19,355,000,000 | 19,467,000,000 | 19,505,000,000 | 19,428,000,000 | 18,974,000,000 | 18,953,000,000 | 18,686,000,000 | 18,859,000,000 | 17,546,000,000 | 15,016,000,000 | 13,371,000,000 | 15,741,000,000 | 16,781,000,000 | 17,257,000,000 | ||
noncontrolling interests | 887,000,000 | 955,000,000 | 931,000,000 | 875,000,000 | 843,000,000 | 871,000,000 | 891,000,000 | 817,000,000 | 814,000,000 | 821,000,000 | 710,000,000 | 867,000,000 | 863,000,000 | 807,000,000 | 985,000,000 | 1,120,000,000 | 1,329,000,000 | 1,313,000,000 | 1,315,000,000 | 1,267,000,000 | 1,321,000,000 | 1,248,000,000 | 1,209,000,000 | 2,212,000,000 | 2,838,000,000 | 2,880,000,000 | 2,865,000,000 | 2,868,000,000 | 2,934,000,000 | 2,947,000,000 | 5,316,000,000 | 5,340,000,000 | 5,290,000,000 | 5,246,000,000 | 5,136,000,000 | 5,086,000,000 | 5,292,000,000 | 5,409,000,000 | 5,350,000,000 | 5,322,000,000 | 5,459,000,000 | 5,498,000,000 | 5,429,000,000 | 5,466,000,000 | 5,251,000,000 | 4,736,000,000 | 4,693,000,000 | 4,591,000,000 | 4,530,000,000 | 4,759,000,000 | 4,640,000,000 | 4,447,000,000 | 3,746,000,000 | 3,525,000,000 | |||||
total equity | 19,591,000,000 | 19,641,000,000 | 19,223,000,000 | 18,389,000,000 | 18,034,000,000 | 17,937,000,000 | 18,248,000,000 | 17,201,000,000 | 16,998,000,000 | 16,525,000,000 | 15,158,000,000 | 15,470,000,000 | 15,314,000,000 | 14,653,000,000 | 16,221,000,000 | 17,695,000,000 | 19,175,000,000 | 19,130,000,000 | 19,398,000,000 | 18,537,000,000 | 19,181,000,000 | 18,620,000,000 | 18,413,000,000 | 19,178,000,000 | 22,258,000,000 | 22,394,000,000 | 21,902,000,000 | 21,386,000,000 | 21,886,000,000 | 21,858,000,000 | 23,848,000,000 | 24,361,000,000 | 24,106,000,000 | 23,734,000,000 | 23,406,000,000 | 23,031,000,000 | 23,125,000,000 | 24,153,000,000 | 24,332,000,000 | 24,630,000,000 | 25,116,000,000 | 25,355,000,000 | 25,117,000,000 | 24,821,000,000 | 24,718,000,000 | 24,241,000,000 | 24,121,000,000 | 23,565,000,000 | 23,483,000,000 | 23,445,000,000 | 23,499,000,000 | 21,993,000,000 | 18,762,000,000 | 16,896,000,000 | |||||
total liabilities and equity | 85,652,000,000 | 86,348,000,000 | 85,941,000,000 | 84,668,000,000 | 83,142,000,000 | 81,943,000,000 | 83,617,000,000 | 81,057,000,000 | 80,906,000,000 | 79,197,000,000 | 76,469,000,000 | 77,347,000,000 | 76,560,000,000 | 75,111,000,000 | 77,071,000,000 | 79,144,000,000 | 81,626,000,000 | 81,726,000,000 | 81,608,000,000 | 80,005,000,000 | 80,236,000,000 | 79,464,000,000 | 78,439,000,000 | 79,254,000,000 | 82,499,000,000 | 82,277,000,000 | 80,449,000,000 | 78,316,000,000 | 78,725,000,000 | 80,732,000,000 | 80,786,000,000 | 79,527,000,000 | 79,101,000,000 | 77,114,000,000 | 78,508,000,000 | 79,183,000,000 | 77,224,000,000 | 77,532,000,000 | 78,015,000,000 | 78,623,000,000 | 78,529,000,000 | 82,894,000,000 | 81,803,000,000 | 79,510,000,000 | 80,614,000,000 | 77,328,000,000 | 77,240,000,000 | 76,305,000,000 | 76,069,000,000 | 75,967,000,000 | 76,821,000,000 | 75,855,000,000 | 71,630,000,000 | 69,667,000,000 | |||||
fixed maturities, amortized cost of 45,250 and 44,196, less allowance for credit loss of 69 and 45 | 43,984,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,201 and 969 | 1,292,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 15 and 35 | 1,195,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
december 31 | 2,025,000,000 | 2,024,000,000 | 2,023,000,000 | 2,021,000,000 | 2,020,000,000 | 2,018,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 206,003,999 and 214,912,595 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders’ equity: - sum | 18,686,000,000 | 17,084,000,000 | 15,711,000,000 | 17,849,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 45,338 and 44,196, less allowance for credit loss of 61 and 45 | 44,116,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,183 and 969 | 1,295,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 40 and 35 | 1,163,000,000 | 1,138,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 215,115,219 and 214,912,595 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 45,283 and 44,196, less allowance for credit loss of 51 and 45 | 43,357,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,221 and 969 | 1,294,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 215,049,854 and 214,912,595 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 44,741 and 44,196, less allowance for credit loss of 47 and 45 | 42,723,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,150 and 969 | 1,189,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 35 and 35 | 1,155,000,000 | 1,113,000,000 | 1,095,000,000 | 1,067,000,000 | 1,117,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 215,027,306 and 214,912,595 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 44,196 and 42,615, less allowance for credit loss of 45 and 16 | 41,827,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 969 and 1,015 | 1,064,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 214,912,595 and 222,268,150 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 44,028 and 42,615, less allowance for credit loss of 18 and 16 | 43,055,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,068 and 1,015 | 1,215,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 222,511,465 and 222,268,150 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 43,469 and 42,615, less allowance for credit loss of 17 and 16 | 40,879,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,076 and 1,015 | 1,117,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 222,456,544 and 222,268,150 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 43,113 and 42,615, less allowance for credit loss of 20 and 16 | 40,840,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,027 and 1,015 | 1,104,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 222,421,077 and 222,268,150 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 42,615 and 41,102, less allowance for credit loss of 16 and 1 | 40,626,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,015 and 1,161 | 1,050,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 35 and 24 | 1,123,000,000 | 1,072,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 222,268,150 and 236,159,866 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 42,753 and 41,102, less allowance for credit loss of 18 and 1 | 38,243,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,081 and 1,161 | 1,055,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
short term investments | 3,969,000,000 | 4,478,000,000 | 4,079,000,000 | 4,854,000,000 | 4,125,000,000 | 4,291,000,000 | 4,655,000,000 | 4,860,000,000 | 4,178,000,000 | 4,802,000,000 | 4,282,000,000 | 4,674,000,000 | 4,553,000,000 | 4,515,000,000 | 3,705,000,000 | 4,628,000,000 | 4,574,000,000 | 4,689,000,000 | 4,487,000,000 | 3,869,000,000 | 3,794,000,000 | 4,437,000,000 | 4,367,000,000 | 4,991,000,000 | 4,932,000,000 | 5,013,000,000 | 4,893,000,000 | 5,334,000,000 | 5,275,000,000 | 5,082,000,000 | 5,856,000,000 | 6,359,000,000 | 6,726,000,000 | 7,276,000,000 | 7,586,000,000 | 6,180,000,000 | 5,901,000,000 | 5,595,000,000 | 5,558,000,000 | 5,848,000,000 | 5,692,000,000 | 6,026,000,000 | 6,099,000,000 | 6,187,000,000 | 6,454,000,000 | 7,563,000,000 | 8,673,000,000 | 9,736,000,000 | 10,893,000,000 | ||||||||||
short term debt | 1,261,000,000 | 961,000,000 | 908,000,000 | 814,000,000 | 839,000,000 | 393,000,000 | 93,000,000 | 187,000,000 | 122,000,000 | 141,000,000 | 37,000,000 | 35,000,000 | 47,000,000 | 2,460,000,000 | 87,000,000 | 87,000,000 | 132,000,000 | 17,000,000 | 149,000,000 | 181,000,000 | 213,000,000 | 194,000,000 | 192,000,000 | 156,000,000 | 185,000,000 | 330,000,000 | 3,000,000 | 1,278,000,000 | 1,061,000,000 | 687,000,000 | 850,000,000 | 974,000,000 | 854,000,000 | 270,000,000 | 19,000,000 | 88,000,000 | 88,000,000 | 1,206,000,000 | 6,000,000 | 197,000,000 | 647,000,000 | 62,000,000 | 23,000,000 | 18,000,000 | 273,000,000 | 258,000,000 | 262,000,000 | ||||||||||||
long term debt | 7,925,000,000 | 8,094,000,000 | 8,150,000,000 | 8,475,000,000 | 8,443,000,000 | 8,883,000,000 | 8,986,000,000 | 8,925,000,000 | 8,988,000,000 | 8,996,000,000 | 10,072,000,000 | 10,373,000,000 | 9,958,000,000 | 9,508,000,000 | 11,395,000,000 | 11,456,000,000 | 11,229,000,000 | 11,359,000,000 | 11,311,000,000 | 11,290,000,000 | 11,255,000,000 | 11,239,000,000 | 11,094,000,000 | 10,534,000,000 | 10,737,000,000 | 10,735,000,000 | 10,584,000,000 | 9,492,000,000 | 9,791,000,000 | 9,863,000,000 | 10,051,000,000 | 9,828,000,000 | 10,456,000,000 | 9,705,000,000 | 9,418,000,000 | 9,048,000,000 | 8,954,000,000 | 8,026,000,000 | 9,163,000,000 | 9,296,000,000 | 8,829,000,000 | 9,549,000,000 | 8,647,000,000 | 8,402,000,000 | 7,401,000,000 | 7,137,000,000 | 7,093,000,000 | ||||||||||||
issued – 236,321,095 and 236,159,866 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 42,037 and 41,102, less allowance for credit loss of 22 and 1 | 38,926,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,063 and 1,161 | 1,051,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 30 and 24 | 1,088,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 236,305,517 and 236,159,866 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 41,899 and 41,102, less allowance for credit loss of 2 and 1 | 39,349,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,082 and 1,161 | 1,057,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 24 and 24 | 1,093,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 236,270,711 and 236,159,866 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 41,102 and 39,952, less allowance for credit loss of 1 and 18 | 37,697,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,161 and 1,546 | 1,139,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 24 and 16 | 1,124,000,000 | 1,053,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 41,588 and 39,952, less allowance for credit loss of 3 and 18 | 37,504,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,581 and 1,546 | 1,340,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 248,665,240 and 248,467,051 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | -3,803,000,000 | -2,510,000,000 | -1,251,000,000 | 186,000,000 | 191,000,000 | 327,000,000 | 34,000,000 | 581,000,000 | 238,000,000 | 5,000,000 | 17,000,000 | 3,000,000 | 32,000,000 | 144,000,000 | 119,000,000 | -23,000,000 | 53,000,000 | 298,000,000 | 638,000,000 | 807,000,000 | 563,000,000 | 20,000,000 | 566,000,000 | 746,000,000 | 654,000,000 | 735,000,000 | 581,000,000 | 294,000,000 | 1,017,000,000 | -3,229,000,000 | -1,974,000,000 | -1,101,000,000 | -983,000,000 | ||||||||||||||||||||||||||
fixed maturities, amortized cost of 41,261 and 39,952, less allowance for credit loss of 5 and 18 | 39,431,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,545 and 1,546 | 1,364,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 16 and 16 | 1,048,000,000 | 1,070,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 248,622,439 and 248,467,051 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 40,928 and 39,952, less allowance for credit loss of 17 and 18 | 41,945,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,496 and 1,546 | 1,515,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 248,596,343 and 248,467,051 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 39,952 and 38,963, less allowance for credit loss of 18 and 40 | 44,380,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,546 and 1,456 | 1,674,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 16 and 26 | 1,091,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 248,467,051 and 269,360,973 shares | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 40,342 and 38,963, less allowance for credit loss of 31 and 40 | 45,069,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,552 and 1,456 | 1,660,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 26 and 26 | 1,140,000,000 | 1,101,000,000 | 1,144,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 269,574,153 and 269,360,973 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 39,826 and 38,963, less allowance for credit loss of 45 and 40 | 44,910,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,496 and 1,456 | 1,663,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 269,514,991 and 269,360,973 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 39,293 and 38,963, less allowance for credit loss of 43 and 40 | 43,584,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,455 and 1,456 | 1,580,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
assets held for sale | 1,786,000,000 | 3,486,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities held for sale | 1,456,000,000 | 3,250,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 269,472,042 and 269,360,973 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,963 and 38,157, less allowance for credit loss of 40 and 0 | 44,646,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,456 and 1,244 | 1,561,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 26 and 0 | 1,165,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 269,360,973 and 291,210,222 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,979 and 38,157, less allowance for credit loss of 47 and 0 | 43,917,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,391 and 1,244 | 1,368,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 21 and 0 | 1,176,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 291,393,899 and 291,210,222 shares | 3,000,000 | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,414 and 38,157, less allowance for credit loss of 51 and 0 | 42,799,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,349 and 1,244 | 1,305,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans, less allowance for credit loss of 20 and 0 | 1,125,000,000 | 1,101,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,059 and 38,157, less allowance for credit loss of 49 and 0 | 40,124,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,446 and 1,244 | 1,182,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 291,381,794 and 291,210,222 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,157 and 38,234 | 42,240,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,244 and 1,479 | 1,306,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets, primarily mortgage loans | 1,072,000,000 | 995,000,000 | 985,000,000 | 933,000,000 | 901,000,000 | 983,000,000 | 976,000,000 | 974,000,000 | 825,000,000 | 748,000,000 | 708,000,000 | 719,000,000 | 696,000,000 | 822,000,000 | 787,000,000 | 768,000,000 | 732,000,000 | 496,000,000 | 473,000,000 | 350,000,000 | 292,000,000 | ||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,287 and 38,234 | 42,489,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,315 and 1,479 | 1,317,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 312,550,764 and 312,169,189 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,045 and 38,234 | 41,663,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,385 and 1,479 | 1,367,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 312,528,502 and 312,169,189 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,985 and 38,234 | 40,602,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,376 and 1,479 | 1,326,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 312,435,202 and 312,169,189 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,234 and 38,861 | 39,699,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,479 and 1,177 | 1,293,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 312,169,189 and 332,487,815 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,237 and 38,861 | 39,819,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,306 and 1,177 | 1,267,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 332,739,088 and 332,487,815 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,568 and 38,861 | 40,441,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,320 and 1,177 | 1,305,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 332,684,645 and 332,487,815 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,830 and 38,861 | 41,100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,326 and 1,177 | 1,333,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 332,646,800 and 332,487,815 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 39,230 and 38,947 | 42,507,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 592 and 571 | 610,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 336,753,017 and 336,621,358 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,982 and 38,947 | 42,065,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 603 and 571 | 607,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 336,724,742 and 336,621,358 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,743 and 38,947 | 41,456,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 578 and 571 | 587,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 336,699,587 and 336,621,358 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,810 and 37,407 | 42,894,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 581 and 824 | 586,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 339,951,927 and 339,897,547 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,285 and 37,407 | 42,307,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 642 and 824 | 667,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 339,941,534 and 339,897,547 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,507 and 37,407 | 40,475,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 817 and 824 | 777,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 339,933,179 and 339,897,547 shares | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,690 and 37,469 | 40,301,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 978 and 733 | 885,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
policyholders’ funds | 27,000,000 | 27,000,000 | 26,000,000 | 127,000,000 | 154,000,000 | 167,000,000 | 169,000,000 | 176,000,000 | 166,000,000 | 165,000,000 | 164,000,000 | 177,000,000 | 217,000,000 | 253,000,000 | 454,000,000 | 582,000,000 | 859,000,000 | ||||||||||||||||||||||||||||||||||||||||||
issued – 373,211,389 and 372,934,540 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,321 and 37,469 | 39,954,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 783 and 733 | 756,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 373,203,709 and 372,934,540 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 36,997 and 37,469 | 40,708,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 672 and 733 | 644,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 373,194,344 and 372,934,540 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,631 and 39,426 | 40,804,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 765 and 881 | 754,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other invested assets | 702,000,000 | 665,000,000 | 649,000,000 | 220,000,000 | 213,000,000 | 133,000,000 | 98,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
assets of discontinued operations | 4,406,000,000 | 1,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
separate account business | 213,000,000 | 279,000,000 | 370,000,000 | 402,000,000 | 418,000,000 | 450,000,000 | 449,000,000 | 462,000,000 | 442,000,000 | 413,000,000 | 376,000,000 | 430,000,000 | 451,000,000 | 465,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
liabilities of discontinued operations | 3,946,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 387,493,404 and 387,210,096 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,346 and 39,426 | 40,585,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 825 and 881 | 864,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 387,476,248 and 387,210,096 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,031 and 39,426 | 39,511,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 813 and 881 | 805,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 387,454,185 and 387,210,096 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 39,261 and 38,324 | 41,376,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 862 and 893 | 841,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 392,351,798 and 392,054,766 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,668 and 38,324 | 42,912,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 709 and 893 | 691,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 392,242,941 and 392,054,766 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,041 and 37,466 | 41,498,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 899 and 902 | 889,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 396,879,276 and 396,585,226 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 38,171 and 37,466 | 41,173,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 962 and 902 | 1,026,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued–396,834,820 and 396,585,226 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,144 and 36,677 | 39,680,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 935 and 979 | 924,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 415,156,538 and 414,930,507 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,096 and 36,677 | 38,853,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 908 and 979 | 996,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 415,152,938 and 414,930,507 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,188 and 36,677 | 38,423,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 905 and 979 | 1,025,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 415,136,329 and 414,930,507 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 36,668 and 35,824 | 38,919,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 937 and 943 | 1,078,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 425,805,625 and 425,497,522 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 37,591 and 35,824 | 38,104,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 938 and 943 | 1,047,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 425,547,829 and 425,497,522 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 34,638 and 34,767 | 31,826,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 958 and 1,402 | 1,053,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other investments | 5,000,000 | 4,000,000 | 149,000,000 | 18,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
collateral on loaned securities and derivatives | 6,000,000 | 51,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reinsurance balances payable | 350,000,000 | 344,000,000 | 367,000,000 | 373,000,000 | 396,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 435,213,891 and 435,091,667 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 33,523 and 34,767 | 28,755,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,083 and 1,402 | 1,001,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
goodwill and other intangible assets | 875,000,000 | 1,358,000,000 | 1,357,000,000 | 1,354,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued and outstanding – 435,159,670 and 435,091,667 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings retained in the business | 12,700,000,000 | 14,435,000,000 | 14,598,000,000 | 14,269,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 33,003 and 34,816 | 29,733,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,776 and 1,143 | 1,516,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and shareholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
collateral on loaned securities | 6,000,000 | 878,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minority interest | 4,168,000,000 | 4,254,000,000 | 3,788,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.10 par value, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loews common stock, 0.01 par value: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 436,402,567 and 529,683,628 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
former carolina group stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less treasury stock, at cost (314,000 shares of loews common stock at | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
september 30, 2008 and 340,000 shares of former carolina group stock at | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
december 31, 2007) | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders’ equity | 73,417,000,000 | 74,782,000,000 | 76,892,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 32,422 and 34,816 | 30,980,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 2,267 and 1,143 | 2,196,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued and outstanding – 436,267,871 and 529,683,628 shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturities, amortized cost of 34,374 and 34,816 | 32,907,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity securities, cost of 1,124 and 1,143 | 1,272,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued and outstanding – 529,702,152 and 529,683,628 shares | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
carolina group stock, 0.01 par value: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
authorized – 600,000,000 shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issued – 108,816,929 and 108,799,141 shares | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less treasury stock, at cost (340,000 shares of carolina group stock as of march 31, 2008 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
and december 31, 2007) | 8,000,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-06-30 | 2015-03-31 | 2014-09-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
net income | 428,000,000 | 536,000,000 | 416,000,000 | 392,000,000 | 189,000,000 | 425,000,000 | 395,000,000 | 485,000,000 | 477,000,000 | 276,000,000 | 388,000,000 | 404,000,000 | 388,000,000 | 143,000,000 | 202,000,000 | 370,000,000 | 371,000,000 | 246,000,000 | 793,000,000 | 293,000,000 | 437,000,000 | 162,000,000 | -846,000,000 | -1,044,000,000 | 211,000,000 | 39,000,000 | 225,000,000 | 396,000,000 | -211,000,000 | 289,000,000 | 248,000,000 | 380,000,000 | 212,000,000 | 278,000,000 | 391,000,000 | 393,000,000 | -288,000,000 | 199,000,000 | 247,000,000 | 49,000,000 | 269,000,000 | 398,000,000 | 198,000,000 | 519,000,000 | 315,000,000 | 407,000,000 | 565,000,000 | 623,000,000 |
adjustments to reconcile net income to net cash fromoperating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
investment losses | ||||||||||||||||||||||||||||||||||||||||||||||||
equity method investees | ||||||||||||||||||||||||||||||||||||||||||||||||
amortization of investments | ||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | ||||||||||||||||||||||||||||||||||||||||||||||||
provision for deferred income taxes | ||||||||||||||||||||||||||||||||||||||||||||||||
other non-cash items | ||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities, net: | ||||||||||||||||||||||||||||||||||||||||||||||||
receivables | -65,000,000 | 330,000,000 | -427,000,000 | -246,000,000 | -539,000,000 | 209,000,000 | -486,000,000 | -113,000,000 | -197,000,000 | 385,000,000 | -461,000,000 | 5,000,000 | 131,000,000 | 187,000,000 | -606,000,000 | -28,000,000 | -294,000,000 | -28,000,000 | -351,000,000 | -736,000,000 | -152,000,000 | 301,000,000 | -308,000,000 | -266,000,000 | -65,000,000 | 258,000,000 | -94,000,000 | 15,000,000 | -149,000,000 | 525,000,000 | -360,000,000 | -147,000,000 | 242,000,000 | -274,000,000 | 51,000,000 | 264,000,000 | -154,000,000 | -275,000,000 | -90,000,000 | -153,000,000 | 713,000,000 | -68,000,000 | 115,000,000 | 142,000,000 | ||||
deferred acquisition costs | -1,000,000 | 33,000,000 | -12,000,000 | -37,000,000 | -24,000,000 | 10,000,000 | -21,000,000 | -34,000,000 | -11,000,000 | 0 | -29,000,000 | -45,000,000 | -13,000,000 | -3,000,000 | -32,000,000 | -31,000,000 | -15,000,000 | -3,000,000 | 20,000,000 | -32,000,000 | -7,000,000 | 5,000,000 | -14,000,000 | -27,000,000 | 11,000,000 | 10,000,000 | -18,000,000 | -29,000,000 | 18,000,000 | 19,000,000 | -14,000,000 | -29,000,000 | 7,000,000 | -17,000,000 | -24,000,000 | 1,000,000 | -2,000,000 | -23,000,000 | 5,000,000 | -13,000,000 | 24,000,000 | -40,000,000 | -2,000,000 | -15,000,000 | -1,000,000 | -8,000,000 | -19,000,000 | |
insurance reserves | 148,000,000 | 108,000,000 | 758,000,000 | 656,000,000 | 806,000,000 | 304,000,000 | 812,000,000 | 443,000,000 | 483,000,000 | 19,000,000 | 733,000,000 | 432,000,000 | 48,000,000 | 367,000,000 | 887,000,000 | 489,000,000 | 572,000,000 | 518,000,000 | 768,000,000 | 605,000,000 | 202,000,000 | 298,000,000 | 671,000,000 | 510,000,000 | 21,000,000 | 134,000,000 | 146,000,000 | 57,000,000 | 374,000,000 | -455,000,000 | 252,000,000 | 311,000,000 | -14,000,000 | 127,000,000 | 135,000,000 | -202,000,000 | 155,000,000 | 511,000,000 | 147,000,000 | 304,000,000 | -456,000,000 | 79,000,000 | 22,000,000 | 99,000,000 | -98,000,000 | 48,000,000 | 45,000,000 | -135,000,000 |
other assets | 237,000,000 | 132,000,000 | -54,000,000 | -92,000,000 | 543,000,000 | 46,000,000 | -58,000,000 | -114,000,000 | 64,000,000 | 21,000,000 | -88,000,000 | -85,000,000 | 95,000,000 | -126,000,000 | -226,000,000 | -134,000,000 | -93,000,000 | -133,000,000 | -470,000,000 | -250,000,000 | -102,000,000 | -131,000,000 | -164,000,000 | -116,000,000 | 30,000,000 | -90,000,000 | -153,000,000 | -143,000,000 | 67,000,000 | -18,000,000 | -95,000,000 | -56,000,000 | 23,000,000 | -68,000,000 | -40,000,000 | 7,000,000 | -67,000,000 | -20,000,000 | -45,000,000 | -57,000,000 | 51,000,000 | -3,000,000 | -75,000,000 | -6,000,000 | ||||
other liabilities | -40,000,000 | -242,000,000 | -19,000,000 | 27,000,000 | -63,000,000 | -29,000,000 | 120,000,000 | -37,000,000 | -146,000,000 | 190,000,000 | 99,000,000 | -238,000,000 | -24,000,000 | 74,000,000 | 289,000,000 | -202,000,000 | 196,000,000 | 103,000,000 | 472,000,000 | 126,000,000 | 18,000,000 | 284,000,000 | 242,000,000 | -288,000,000 | -122,000,000 | 242,000,000 | 177,000,000 | -104,000,000 | -27,000,000 | 40,000,000 | 100,000,000 | -215,000,000 | -37,000,000 | 186,000,000 | -265,000,000 | 115,000,000 | 181,000,000 | -287,000,000 | 107,000,000 | -227,000,000 | -46,000,000 | -101,000,000 | 100,000,000 | -187,000,000 | -73,000,000 | 21,000,000 | -297,000,000 | -42,000,000 |
trading securities | -245,000,000 | -187,000,000 | 163,000,000 | -144,000,000 | 3,000,000 | -206,000,000 | 115,000,000 | -607,000,000 | -328,000,000 | 167,000,000 | 696,000,000 | 42,000,000 | -134,000,000 | 330,000,000 | 337,000,000 | -374,000,000 | 131,000,000 | 328,000,000 | -379,000,000 | -129,000,000 | -90,000,000 | -141,000,000 | -537,000,000 | 197,000,000 | 50,000,000 | 61,000,000 | -125,000,000 | -480,000,000 | 203,000,000 | 217,000,000 | 1,198,000,000 | 84,000,000 | -199,000,000 | 704,000,000 | -567,000,000 | 80,000,000 | -7,000,000 | -541,000,000 | 381,000,000 | -371,000,000 | -30,000,000 | 8,000,000 | 17,000,000 | -494,000,000 | 290,000,000 | -1,043,000,000 | 522,000,000 | -584,000,000 |
net cash flow from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||
investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
purchases of fixed maturities | -1,066,000,000 | -2,296,000,000 | -1,981,000,000 | -1,775,000,000 | -1,388,000,000 | -1,627,000,000 | -1,717,000,000 | -1,621,000,000 | -1,157,000,000 | -1,953,000,000 | -1,248,000,000 | -2,258,000,000 | -1,053,000,000 | -2,517,000,000 | -3,704,000,000 | -2,547,000,000 | -2,180,000,000 | -2,512,000,000 | -2,412,000,000 | -2,203,000,000 | -1,803,000,000 | -3,110,000,000 | -3,538,000,000 | -1,818,000,000 | -1,608,000,000 | -2,157,000,000 | -2,449,000,000 | -2,447,000,000 | -2,541,000,000 | -2,636,000,000 | -2,918,000,000 | -2,690,000,000 | -2,037,000,000 | -2,743,000,000 | -2,097,000,000 | -2,598,000,000 | -2,636,000,000 | -2,238,000,000 | -3,110,000,000 | -1,919,000,000 | -2,536,000,000 | -2,720,000,000 | -2,327,000,000 | -2,842,000,000 | -2,654,000,000 | -2,720,000,000 | -3,480,000,000 | -5,351,000,000 |
proceeds from sales of fixed maturities | 514,000,000 | 935,000,000 | 854,000,000 | 643,000,000 | 458,000,000 | 724,000,000 | 875,000,000 | 736,000,000 | 745,000,000 | 999,000,000 | 871,000,000 | 1,414,000,000 | 1,024,000,000 | 1,592,000,000 | 2,490,000,000 | 803,000,000 | 1,306,000,000 | 664,000,000 | 939,000,000 | 907,000,000 | 881,000,000 | 1,250,000,000 | 2,950,000,000 | 823,000,000 | 970,000,000 | 1,014,000,000 | 1,599,000,000 | 2,259,000,000 | 1,786,000,000 | 1,841,000,000 | 2,205,000,000 | 2,576,000,000 | 1,025,000,000 | 1,783,000,000 | 1,359,000,000 | 1,169,000,000 | 1,348,000,000 | 1,722,000,000 | 1,715,000,000 | 1,144,000,000 | 1,086,000,000 | 1,409,000,000 | 1,374,000,000 | 1,929,000,000 | 1,788,000,000 | 2,231,000,000 | 1,893,000,000 | 2,737,000,000 |
proceeds from maturities of fixed maturities | 790,000,000 | 954,000,000 | 799,000,000 | 814,000,000 | 641,000,000 | 646,000,000 | 602,000,000 | 507,000,000 | 374,000,000 | 347,000,000 | 296,000,000 | 317,000,000 | 263,000,000 | 380,000,000 | 799,000,000 | 916,000,000 | 1,104,000,000 | 1,256,000,000 | 1,020,000,000 | 1,084,000,000 | 1,054,000,000 | 1,084,000,000 | 823,000,000 | 799,000,000 | 881,000,000 | 742,000,000 | 798,000,000 | 576,000,000 | 532,000,000 | 532,000,000 | 775,000,000 | 531,000,000 | 865,000,000 | 947,000,000 | 823,000,000 | 1,016,000,000 | 757,000,000 | 490,000,000 | 1,160,000,000 | 1,144,000,000 | 947,000,000 | 866,000,000 | 883,000,000 | 683,000,000 | 609,000,000 | 860,000,000 | 965,000,000 | 846,000,000 |
purchases of equity securities | -164,000,000 | -133,000,000 | -172,000,000 | -124,000,000 | -112,000,000 | -86,000,000 | -77,000,000 | -169,000,000 | -93,000,000 | -74,000,000 | -44,000,000 | -82,000,000 | -49,000,000 | -50,000,000 | -120,000,000 | -75,000,000 | -62,000,000 | -61,000,000 | -100,000,000 | -81,000,000 | -25,000,000 | -5,000,000 | -33,000,000 | -12,000,000 | -15,000,000 | -12,000,000 | -7,000,000 | -10,000,000 | -34,000,000 | -42,000,000 | ||||||||||||||||||
proceeds from sales of equity securities | 109,000,000 | 135,000,000 | 157,000,000 | 104,000,000 | 135,000,000 | 100,000,000 | 102,000,000 | 186,000,000 | 125,000,000 | 71,000,000 | 59,000,000 | 62,000,000 | 279,000,000 | 37,000,000 | 116,000,000 | 77,000,000 | 79,000,000 | 44,000,000 | 74,000,000 | 119,000,000 | 31,000,000 | 2,000,000 | 9,000,000 | 51,000,000 | 42,000,000 | 19,000,000 | 18,000,000 | 25,000,000 | 128,000,000 | 25,000,000 | ||||||||||||||||||
purchases of limited partnership investments | -107,000,000 | -60,000,000 | -202,000,000 | -78,000,000 | -100,000,000 | -95,000,000 | -63,000,000 | -77,000,000 | -80,000,000 | -77,000,000 | -129,000,000 | -116,000,000 | -72,000,000 | -97,000,000 | -83,000,000 | -85,000,000 | -159,000,000 | -112,000,000 | -108,000,000 | -61,000,000 | -80,000,000 | -54,000,000 | -58,000,000 | -32,000,000 | -31,000,000 | -28,000,000 | -25,000,000 | -114,000,000 | -39,000,000 | -308,000,000 | -10,000,000 | -63,000,000 | -38,000,000 | -29,000,000 | -18,000,000 | -44,000,000 | -110,000,000 | -170,000,000 | -44,000,000 | -34,000,000 | -109,000,000 | -41,000,000 | ||||||
proceeds from sales of limited partnership investments | 14,000,000 | 38,000,000 | 26,000,000 | 25,000,000 | 52,000,000 | 16,000,000 | 17,000,000 | 13,000,000 | 26,000,000 | 73,000,000 | 57,000,000 | 75,000,000 | 15,000,000 | 22,000,000 | 21,000,000 | 113,000,000 | 68,000,000 | 54,000,000 | 136,000,000 | 49,000,000 | 93,000,000 | 46,000,000 | 55,000,000 | 204,000,000 | 62,000,000 | 121,000,000 | 222,000,000 | 337,000,000 | 88,000,000 | 288,000,000 | 25,000,000 | 69,000,000 | 60,000,000 | 57,000,000 | 62,000,000 | 83,000,000 | 35,000,000 | 89,000,000 | 65,000,000 | 20,000,000 | 15,000,000 | 58,000,000 | ||||||
purchases of property, plant and equipment | -191,000,000 | -156,000,000 | -134,000,000 | -98,000,000 | -174,000,000 | -140,000,000 | -159,000,000 | -159,000,000 | -223,000,000 | -164,000,000 | -140,000,000 | -159,000,000 | -223,000,000 | -125,000,000 | -191,000,000 | -121,000,000 | -155,000,000 | -144,000,000 | -96,000,000 | -87,000,000 | -126,000,000 | -144,000,000 | -207,000,000 | -233,000,000 | -298,000,000 | -238,000,000 | -282,000,000 | -223,000,000 | -264,000,000 | -251,000,000 | -250,000,000 | -230,000,000 | -259,000,000 | -265,000,000 | -211,000,000 | -290,000,000 | -682,000,000 | -292,000,000 | -774,000,000 | -453,000,000 | -443,000,000 | -602,000,000 | -292,000,000 | -238,000,000 | -202,000,000 | -150,000,000 | -150,000,000 | -212,000,000 |
acquisitions | -53,000,000 | 0 | -1,000,000 | -23,000,000 | -4,000,000 | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||
change in short-term investments | -472,000,000 | -611,000,000 | -167,000,000 | 330,000,000 | 553,000,000 | -245,000,000 | 117,000,000 | -455,000,000 | ||||||||||||||||||||||||||||||||||||||||
other | -37,000,000 | -11,000,000 | 11,000,000 | -45,000,000 | -24,000,000 | -33,000,000 | 53,000,000 | -10,000,000 | -16,000,000 | -42,000,000 | -86,000,000 | -34,000,000 | -157,000,000 | -1,000,000 | 30,000,000 | 36,000,000 | 74,000,000 | -26,000,000 | 29,000,000 | 10,000,000 | 91,000,000 | -71,000,000 | 6,000,000 | -153,000,000 | -83,000,000 | -2,000,000 | -32,000,000 | -61,000,000 | -56,000,000 | -28,000,000 | -31,000,000 | -114,000,000 | -96,000,000 | -27,000,000 | -13,000,000 | -24,000,000 | 142,000,000 | 6,000,000 | -83,000,000 | -7,000,000 | -69,000,000 | -22,000,000 | 5,000,000 | 12,000,000 | 122,000,000 | 17,000,000 | 10,000,000 | 8,000,000 |
net cash flow used by investing activities | -611,000,000 | -1,204,000,000 | -809,000,000 | -204,000,000 | 41,000,000 | -740,000,000 | -250,000,000 | -1,026,000,000 | -492,000,000 | -786,000,000 | -1,333,000,000 | -134,000,000 | -568,000,000 | -763,000,000 | -306,000,000 | -187,000,000 | ||||||||||||||||||||||||||||||||
year ended december 31 | ||||||||||||||||||||||||||||||||||||||||||||||||
financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -13,000,000 | -13,000,000 | -13,000,000 | -13,000,000 | -13,000,000 | -14,000,000 | -14,000,000 | -14,000,000 | -14,000,000 | -14,000,000 | -14,000,000 | -15,000,000 | -15,000,000 | -15,000,000 | -16,000,000 | -16,000,000 | -16,000,000 | -16,000,000 | -17,000,000 | -17,000,000 | -17,000,000 | -18,000,000 | -18,000,000 | -19,000,000 | -19,000,000 | -19,000,000 | -19,000,000 | -20,000,000 | -20,000,000 | -20,000,000 | -20,000,000 | -21,000,000 | -21,000,000 | -21,000,000 | -21,000,000 | -21,000,000 | -21,000,000 | -23,000,000 | -23,000,000 | -24,000,000 | -24,000,000 | -25,000,000 | -25,000,000 | -25,000,000 | -25,000,000 | -26,000,000 | -26,000,000 | |
dividends paid to noncontrolling interests | -10,000,000 | -11,000,000 | -10,000,000 | -55,000,000 | -10,000,000 | -10,000,000 | -9,000,000 | -56,000,000 | -9,000,000 | -10,000,000 | -11,000,000 | -44,000,000 | -8,000,000 | -11,000,000 | -68,000,000 | -10,000,000 | -11,000,000 | -11,000,000 | -32,000,000 | -11,000,000 | -10,000,000 | -9,000,000 | -69,000,000 | -10,000,000 | -10,000,000 | -10,000,000 | -68,000,000 | -11,000,000 | -10,000,000 | -22,000,000 | -78,000,000 | -21,000,000 | -20,000,000 | -76,000,000 | -20,000,000 | -19,000,000 | -75,000,000 | -28,000,000 | -82,000,000 | -77,000,000 | -122,000,000 | -108,000,000 | -108,000,000 | -101,000,000 | -98,000,000 | -98,000,000 | -166,000,000 | |
purchases of loews corporation treasury stock | -100,000,000 | -55,000,000 | -257,000,000 | -394,000,000 | -346,000,000 | -59,000,000 | -179,000,000 | -24,000,000 | -140,000,000 | -116,000,000 | -131,000,000 | -462,000,000 | -231,000,000 | -248,000,000 | -132,000,000 | -311,000,000 | -341,000,000 | -204,000,000 | -280,000,000 | -245,000,000 | -187,000,000 | -33,000,000 | -458,000,000 | |||||||||||||||||||||||||
purchases of subsidiary stock from noncontrolling interests | 0 | 0 | 0 | -34,000,000 | 0 | 0 | 1,000,000 | -177,000,000 | -2,000,000 | -24,000,000 | -45,000,000 | 0 | -21,000,000 | 0 | 0 | -15,000,000 | -3,000,000 | 0 | 0 | -19,000,000 | -18,000,000 | -5,000,000 | -2,000,000 | -2,000,000 | -14,000,000 | 0 | 0 | -24,000,000 | 0 | |||||||||||||||||||
principal payments on debt | -865,000,000 | -1,000,000 | -2,000,000 | -1,000,000 | -603,000,000 | -1,000,000 | -561,000,000 | -201,000,000 | -375,000,000 | -1,000,000 | -501,000,000 | -1,000,000 | -26,000,000 | -1,000,000 | -300,000,000 | -39,000,000 | -8,000,000 | -73,000,000 | -1,073,000,000 | -569,000,000 | -692,000,000 | -242,000,000 | -223,000,000 | -160,000,000 | -402,000,000 | -1,184,000,000 | -210,000,000 | -263,000,000 | -175,000,000 | -302,000,000 | -303,000,000 | -1,341,000,000 | -132,000,000 | -776,000,000 | -530,000,000 | -543,000,000 | -1,809,000,000 | -570,000,000 | -759,000,000 | -919,000,000 | -196,000,000 | -915,000,000 | -331,000,000 | -197,000,000 | -520,000,000 | -913,000,000 | ||
issuance of debt | 907,000,000 | 10,000,000 | -39,000,000 | 24,000,000 | 1,299,000,000 | 185,000,000 | 130,000,000 | 426,000,000 | 37,000,000 | 34,000,000 | 3,000,000 | 495,000,000 | 0 | 0 | 40,000,000 | 1,159,000,000 | 266,000,000 | 1,051,000,000 | 688,000,000 | 654,000,000 | 206,000,000 | 336,000,000 | 1,342,000,000 | 192,000,000 | 172,000,000 | 160,000,000 | 300,000,000 | 233,000,000 | 1,407,000,000 | 716,000,000 | 685,000,000 | 383,000,000 | 1,019,000,000 | 1,824,000,000 | 867,000,000 | 636,000,000 | 493,000,000 | 420,000,000 | 1,005,000,000 | 370,000,000 | 250,000,000 | 197,000,000 | 904,000,000 | 125,000,000 | ||||
net cash flow used by financing activities | -353,000,000 | -188,000,000 | -235,000,000 | -524,000,000 | -303,000,000 | -262,000,000 | -56,000,000 | -258,000,000 | -144,000,000 | -262,000,000 | -36,000,000 | -449,000,000 | ||||||||||||||||||||||||||||||||||||
effect of foreign exchange rate on cash | 1,000,000 | -4,000,000 | 12,000,000 | 7,000,000 | -13,000,000 | 6,000,000 | -1,000,000 | -2,000,000 | 3,000,000 | 1,000,000 | -15,000,000 | -9,000,000 | -3,000,000 | 2,000,000 | -7,000,000 | 4,000,000 | -9,000,000 | 8,000,000 | -5,000,000 | 0 | 2,000,000 | -6,000,000 | 1,000,000 | -6,000,000 | 1,000,000 | 4,000,000 | 4,000,000 | 1,000,000 | -2,000,000 | 4,000,000 | -6,000,000 | -5,000,000 | -7,000,000 | 1,000,000 | -3,000,000 | 0 | 2,000,000 | |||||||||||
net change in cash | -72,000,000 | 120,000,000 | -113,000,000 | 19,000,000 | -7,000,000 | 78,000,000 | -86,000,000 | 157,000,000 | -363,000,000 | 299,000,000 | -131,000,000 | 62,000,000 | -65,000,000 | 153,000,000 | 177,000,000 | -190,000,000 | 233,000,000 | -82,000,000 | 182,000,000 | -408,000,000 | 218,000,000 | -271,000,000 | 603,000,000 | -106,000,000 | 2,000,000 | 101,000,000 | -66,000,000 | -166,000,000 | 118,000,000 | 2,000,000 | -21,000,000 | 59,000,000 | -55,000,000 | 85,000,000 | -4,000,000 | 40,000,000 | -132,000,000 | -22,000,000 | -93,000,000 | 360,000,000 | -49,000,000 | 37,000,000 | -30,000,000 | -20,000,000 | 25,000,000 | 3,000,000 | -55,000,000 | |
cash, beginning of year | ||||||||||||||||||||||||||||||||||||||||||||||||
cash, end of year | ||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | 210,000,000 | 181,000,000 | 180,000,000 | 175,000,000 | 75,000,000 | 175,000,000 | 219,000,000 | 96,000,000 | 204,000,000 | 274,000,000 | 172,000,000 | 333,000,000 | 257,000,000 | 532,000,000 | 280,000,000 | 165,000,000 | 175,000,000 | |||||||||||||||||||||||||||||||
net cash flow provided by operating activities | 920,000,000 | 1,006,000,000 | 736,000,000 | 934,000,000 | 952,000,000 | 198,000,000 | 1,277,000,000 | 1,434,000,000 | 719,000,000 | 622,000,000 | 1,246,000,000 | 1,023,000,000 | 423,000,000 | 1,133,000,000 | 409,000,000 | 134,000,000 | 454,000,000 | 851,000,000 | 111,000,000 | 329,000,000 | 470,000,000 | 797,000,000 | 393,000,000 | 81,000,000 | ||||||||||||||||||||||||
capital expenditures | -156,000,000 | -134,000,000 | -98,000,000 | -140,000,000 | -159,000,000 | -159,000,000 | -164,000,000 | -140,000,000 | -159,000,000 | -223,000,000 | -125,000,000 | -191,000,000 | -121,000,000 | -144,000,000 | -96,000,000 | -87,000,000 | -126,000,000 | -144,000,000 | -207,000,000 | -233,000,000 | -298,000,000 | -238,000,000 | -282,000,000 | -223,000,000 | ||||||||||||||||||||||||
free cash flows | 764,000,000 | 872,000,000 | 638,000,000 | 794,000,000 | 793,000,000 | 39,000,000 | 1,113,000,000 | 1,294,000,000 | 560,000,000 | 399,000,000 | 1,121,000,000 | 832,000,000 | 302,000,000 | 989,000,000 | 313,000,000 | 47,000,000 | 328,000,000 | 707,000,000 | -96,000,000 | 96,000,000 | 172,000,000 | 559,000,000 | 111,000,000 | -142,000,000 | ||||||||||||||||||||||||
dispositions | 0 | 0 | 0 | 23,000,000 | 0 | 28,000,000 | 0 | 18,000,000 | 36,000,000 | 3,000,000 | 1,000,000 | 3,000,000 | 108,000,000 | 0 | 2,000,000 | -1,000,000 | 67,000,000 | 2,000,000 | 3,000,000 | 54,000,000 | 220,000,000 | 15,000,000 | 5,000,000 | 1,000,000,000 | 5,000,000 | 110,000,000 | 41,000,000 | |||||||||||||||||||||
net cash flow provided by (used by) financing activities | 408,000,000 | -322,000,000 | -520,000,000 | -122,000,000 | -787,000,000 | 987,000,000 | ||||||||||||||||||||||||||||||||||||||||||
cash, beginning of period | 0 | 0 | 541,000,000 | 0 | 0 | 399,000,000 | 0 | 0 | 532,000,000 | 0 | 0 | 621,000,000 | 0 | 0 | 478,000,000 | 0 | 0 | 336,000,000 | 0 | 0 | 405,000,000 | 0 | 0 | 472,000,000 | 0 | 0 | 327,000,000 | 0 | 0 | 440,000,000 | 0 | 364,000,000 | 0 | 228,000,000 | 0 | 129,000,000 | 0 | 0 | 120,000,000 | 190,000,000 | ||||||||
cash, end of period | 120,000,000 | -113,000,000 | 560,000,000 | 78,000,000 | -86,000,000 | 556,000,000 | 299,000,000 | -131,000,000 | 594,000,000 | -65,000,000 | 153,000,000 | 798,000,000 | 233,000,000 | -82,000,000 | 660,000,000 | 218,000,000 | -271,000,000 | 939,000,000 | 2,000,000 | 101,000,000 | 339,000,000 | 118,000,000 | 2,000,000 | 451,000,000 | 59,000,000 | -55,000,000 | 412,000,000 | -4,000,000 | 40,000,000 | 308,000,000 | -22,000,000 | 271,000,000 | 360,000,000 | 179,000,000 | 37,000,000 | 99,000,000 | -20,000,000 | 25,000,000 | 123,000,000 | 135,000,000 | ||||||||
(investment in) sale of interest in altium packaging | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
investment in altium packaging | ||||||||||||||||||||||||||||||||||||||||||||||||
change in short term investments | 382,000,000 | -969,000,000 | 647,000,000 | -595,000,000 | -171,000,000 | 43,000,000 | 696,000,000 | -866,000,000 | 320,000,000 | -164,000,000 | 569,000,000 | -279,000,000 | 180,000,000 | -311,000,000 | 837,000,000 | -83,000,000 | 20,000,000 | 33,000,000 | -27,000,000 | -213,000,000 | 978,000,000 | -1,079,000,000 | -25,000,000 | -56,000,000 | -395,000,000 | 366,000,000 | -44,000,000 | 132,000,000 | 16,000,000 | -78,000,000 | 197,000,000 | 486,000,000 | 375,000,000 | -28,000,000 | -88,000,000 | -285,000,000 | 1,303,000,000 | 277,000,000 | 1,628,000,000 | |||||||||
adjustments to reconcile net income to net cash provided (used)by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
investment (gains) losses | ||||||||||||||||||||||||||||||||||||||||||||||||
asset impairments | ||||||||||||||||||||||||||||||||||||||||||||||||
benefit from deferred income taxes | ||||||||||||||||||||||||||||||||||||||||||||||||
deconsolidation of diamond offshore | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
sale of interest in altium packaging | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
net cash flow (used) provided by investing activities | -599,000,000 | -187,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided (used) by operating activities | 102,000,000 | 73,000,000 | 1,067,000,000 | 1,363,000,000 | 143,000,000 | 235,000,000 | 369,000,000 | 627,000,000 | 309,000,000 | 185,000,000 | 345,000,000 | 296,000,000 | 318,000,000 | 287,000,000 | 804,000,000 | 585,000,000 | 293,000,000 | 510,000,000 | 335,000,000 | 403,000,000 | 270,000,000 | |||||||||||||||||||||||||||
net cash flow (used) provided by financing activities | -376,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
fixed maturity securities | 0 | -3,000,000 | 428,000,000 | 2,000,000 | -8,000,000 | 438,000,000 | -3,000,000 | 5,000,000 | -2,000,000 | 446,000,000 | 455,000,000 | 8,000,000 | 3,000,000 | 446,000,000 | 9,000,000 | 443,000,000 | 2,000,000 | 499,000,000 | -11,000,000 | 516,000,000 | ||||||||||||||||||||||||||||
limited partnership investments | -60,000,000 | 102,000,000 | 47,000,000 | 14,000,000 | 159,000,000 | -102,000,000 | -27,000,000 | -26,000,000 | 12,000,000 | 48,000,000 | 116,000,000 | 44,000,000 | 87,000,000 | -40,000,000 | -110,000,000 | 160,000,000 | -90,000,000 | 146,000,000 | ||||||||||||||||||||||||||||||
short term investments | 0 | -5,000,000 | 7,000,000 | -1,000,000 | -1,000,000 | 2,000,000 | 9,000,000 | 4,000,000 | 1,000,000 | -1,000,000 | 3,000,000 | 3,000,000 | 0 | 2,000,000 | 1,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||
equity securities | -16,000,000 | -9,000,000 | 29,000,000 | -32,000,000 | 94,000,000 | -44,000,000 | 0 | -2,000,000 | 2,000,000 | 10,000,000 | 1,000,000 | -3,000,000 | 1,000,000 | 3,000,000 | 0 | 3,000,000 | -1,000,000 | 3,000,000 | -2,000,000 | 4,000,000 | ||||||||||||||||||||||||||||
income | -56,000,000 | -24,000,000 | 50,000,000 | 236,000,000 | -129,000,000 | -30,000,000 | 26,000,000 | -3,000,000 | -76,000,000 | 72,000,000 | 15,000,000 | 26,000,000 | -15,000,000 | -54,000,000 | -3,000,000 | |||||||||||||||||||||||||||||||||
total investment income | -133,000,000 | 64,000,000 | 570,000,000 | -103,000,000 | 478,000,000 | 184,000,000 | -25,000,000 | -59,000,000 | 46,000,000 | 521,000,000 | 618,000,000 | -27,000,000 | 166,000,000 | 436,000,000 | -77,000,000 | 602,000,000 | -146,000,000 | 653,000,000 | -339,000,000 | 740,000,000 | ||||||||||||||||||||||||||||
investment expenses | 0 | 2,000,000 | -20,000,000 | -1,000,000 | 3,000,000 | -21,000,000 | -1,000,000 | 2,000,000 | -1,000,000 | -15,000,000 | -14,000,000 | 1,000,000 | -1,000,000 | -14,000,000 | -1,000,000 | -14,000,000 | 0 | -12,000,000 | -1,000,000 | -14,000,000 | ||||||||||||||||||||||||||||
net investment income | -133,000,000 | 66,000,000 | 550,000,000 | -104,000,000 | 481,000,000 | 163,000,000 | -26,000,000 | -57,000,000 | 45,000,000 | 506,000,000 | 604,000,000 | -26,000,000 | 165,000,000 | 422,000,000 | -78,000,000 | 588,000,000 | -146,000,000 | 641,000,000 | -340,000,000 | 726,000,000 | ||||||||||||||||||||||||||||
net cash flow provided (used) by investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow provided by investing activities | 306,000,000 | 427,000,000 | -256,000,000 | 300,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
three months ended march 31 | 2,021,000,000 | 2,018,000,000 | 2,017,000,000 | 2,016,000,000 | 2,015,000,000 | 2,013,000,000 | 2,012,000,000 | 2,011,000,000 | 2,010,000,000 | |||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided (used) by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
purchase of boardwalk pipeline common units | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
net cash flow provided (used) by financing activities | 145,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
income from trading portfolio | 34,000,000 | 70,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
three months ended march 31, | 2,020,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
purchases of loews treasury stock | -408,000,000 | -165,000,000 | -161,000,000 | -317,000,000 | -137,000,000 | -90,000,000 | -302,000,000 | -497,000,000 | 0 | -29,000,000 | -53,000,000 | -33,000,000 | -220,000,000 | -67,000,000 | -214,000,000 | |||||||||||||||||||||||||||||||||
purchase of boardwalk pipelines common units | ||||||||||||||||||||||||||||||||||||||||||||||||
1. | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow operating activities | 827,000,000 | 1,244,000,000 | 1,638,000,000 | 513,000,000 | 579,000,000 | 1,232,000,000 | -1,000,000 | 945,000,000 | 622,000,000 | 149,000,000 | 1,045,000,000 | 42,000,000 | 904,000,000 | 608,000,000 | 778,000,000 | 328,000,000 | 294,000,000 | |||||||||||||||||||||||||||||||
net cash flow investing activities | -727,000,000 | 520,000,000 | -1,293,000,000 | 56,000,000 | -533,000,000 | -1,827,000,000 | 273,000,000 | -729,000,000 | -960,000,000 | -157,000,000 | -1,128,000,000 | 94,000,000 | 194,000,000 | -633,000,000 | -645,000,000 | -513,000,000 | -411,000,000 | |||||||||||||||||||||||||||||||
net cash flow financing activities | -260,000,000 | -1,647,000,000 | -337,000,000 | -591,000,000 | 9,000,000 | 536,000,000 | -188,000,000 | -218,000,000 | 383,000,000 | -123,000,000 | 57,000,000 | -223,000,000 | -744,000,000 | -17,000,000 | -95,000,000 | 154,000,000 | 64,000,000 | |||||||||||||||||||||||||||||||
cash | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
property, plant and equipment | -3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
goodwill | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other assets: | ||||||||||||||||||||||||||||||||||||||||||||||||
inventory | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
customer relationships | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
trade name | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
deferred income taxes | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
other liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
pension liability | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
issuance of loews common stock | 0 | 7,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of subsidiary stock | 30,000,000 | 84,000,000 | 0 | 1,000,000 | 1,000,000 | 245,000,000 | 0 | 166,000,000 | 6,000,000 | 333,000,000 | ||||||||||||||||||||||||||||||||||||||
(a) includes net unrealized gains related to changes in fair value on trading securities still held of 15 and (14) for the three months ended march 31, 2016 and 2015. investment gains are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
derivative instruments | -1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
short term investments and other | 1,000,000 | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
investment gains | -28,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
transfer of cash to assets of discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) includes net unrealized gains related to changes in fair value on trading securities still held of (14) and 13 for the three months ended march 31, 2015 and 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||
investment gains are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) includes gross realized gains of 34 and 58 and gross realized losses of 22 and 15 on available-for-sale securities for the three months ended march 31, 2015 and 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||
the components of net other-than-temporary impairment (“otti”) losses recognized in earnings by asset type are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
fixed maturity securities available-for-sale: | ||||||||||||||||||||||||||||||||||||||||||||||||
corporate and other bonds | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
states, municipalities and political subdivisions | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
asset-backed – residential mortgage-backed | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
total fixed maturities available-for-sale | 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
equity securities available-for-sale: | ||||||||||||||||||||||||||||||||||||||||||||||||
common stock | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net otti losses recognized in earnings | 12,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
(a) includes net unrealized gains related to changes in fair value on trading securities still held of (19), 25, 46 and (22) for the three and nine months ended september 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||
purchases of treasury shares | -95,000,000 | -278,000,000 | -234,000,000 | -188,000,000 | -188,000,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of common stock | 3,000,000 | 0 | 5,000,000 | 0 | 0 | 4,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||
deposits for construction of offshore drilling equipment | 0 | -169,000,000 | -309,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
change in other investments | -58,000,000 | -17,000,000 | -13,000,000 | -187,000,000 | -114,000,000 | |||||||||||||||||||||||||||||||||||||||||||
acquisition of cna surety noncontrolling interests | -49,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
limited partnerships | -186,000,000 | 143,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
(a) includes net unrealized gains related to changes in fair value on trading securities still held of (90), (17), (60) and 1 for the three and six months ended june 30, 2012 and 2011. investment gains are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) includes gross realized gains of 51, 90, 123 and 183 and gross realized losses of 34, 72, 75 and 145 on available-for-sale securities for the three and six months ended june 30, 2012 and 2011. the components of other-than-temporary impairment (“otti”) losses recognized in earnings by asset type are as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||
asset-backed: | ||||||||||||||||||||||||||||||||||||||||||||||||
residential mortgage-backed | ||||||||||||||||||||||||||||||||||||||||||||||||
u.s. treasury and obligations of government - sponsored enterprises | ||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||
total equity securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||
reinsurance receivables | 128,000,000 | 154,000,000 | 123,000,000 | 254,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
other receivables | -107,000,000 | -89,000,000 | 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
net cash flow operating activities – continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow operating activities – discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow operating activities – total | 1,108,000,000 | -213,000,000 | 1,129,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
sales of property, plant and equipment | 19,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net cash flow investing activities – continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow investing activities – discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow investing activities – total | -726,000,000 | 1,189,000,000 | -816,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
nine months ended september 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow financing activities – continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow financing activities – discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash flow financing activities – total | -399,000,000 | -951,000,000 | -312,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
net cash transactions: | ||||||||||||||||||||||||||||||||||||||||||||||||
from continuing operations to discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
to discontinued operations from continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||
cash, end of period: | ||||||||||||||||||||||||||||||||||||||||||||||||
continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||
discontinued operations | ||||||||||||||||||||||||||||||||||||||||||||||||
total | ||||||||||||||||||||||||||||||||||||||||||||||||
six months ended june 30 | ||||||||||||||||||||||||||||||||||||||||||||||||
policyholders’ investment contract net deposits | ||||||||||||||||||||||||||||||||||||||||||||||||
change in collateral on loaned securities and derivatives | 1,000,000 |
