LOEWS CORP

10-K & 10-Q Filings

Loews Corporation is a holding company incorporated in 1969. Its subsidiaries are engaged in commercial property and casualty insurance (CNA Financial Corporation), transportation and storage of natural gas and natural gas liquids (Boardwalk Pipeline Partners, LP), and operation of a chain of hotels (Loews Hotels Holding Corporation). The company also owns approximately 53% of Altium Packaging LLC, an unconsolidated subsidiary engaged in the manufacture of rigid plastic packaging solutions. CNA Financial Corporation, an approximately 92% owned subsidiary, is an insurance holding company with property and casualty and remaining life and group insurance operations. Its insurance products include commercial property and casualty coverages, surety, warranty and alternative risks, and other insurance operations. CNA competes in the highly competitive property and casualty insurance industry and operates in both domestic and foreign jurisdictions, subject to comprehensive and detailed regulation. Boardwalk Pipeline Partners, LP is engaged in the business of transportation and storage of natural gas and natural gas liquids and hydrocarbons. It owns and operates approximately 13,455 miles of interconnected natural gas pipelines and approximately 855 miles of NGL pipelines. Boardwalk Pipelines serves a broad mix of customers, including end-use customers, industrial users, and exporters of liquefied natural gas. The company is regulated by the Federal Energy Regulatory Commission (FERC) under the Natural Gas Act of 1938 and the Natural Gas Policy Act of 1978. Loews Hotels Holding Corporation is a wholly owned subsidiary that operates a chain of hotels. The company's website is www.loewshotels.com, and its common stock is traded on the New York Stock Exchange under the ticker symbol "L" or "LOE". The company's business strategy is to own and operate subsidiaries in the insurance, transportation and storage, and hotel industries. It aims to generate stable earnings and cash flow from its subsidiaries and to maintain a strong financial position. The company's segments include CNA Financial Corporation, Boardwalk Pipeline Partners, LP, Loews Hotels Holding Corporation, and the Corporate segment. The Corporate segment primarily consists of Loews Corporation excluding its subsidiaries and the operations of Altium Packaging LLC.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$14127.00
14552.00
15053.00
14325.00
13415.00
13105.00
13735.00
14066.00
14931.00
12583.00
14657.00
14044.00
15901.00
3783.00
4231.00
0.99%11.84%Premiums Earned (+)
$6603.00
6882.00
7271.00
7212.00
6921.00
6924.00
6988.00
7312.00
7428.00
7649.00
8175.00
8667.00
9480.00
2248.00
2441.00
3.06%8.59%Cost of Revenue (-)
$
1573.00
1524.00
1228.00
772.00
802.00
923.00
1082.00
Non-recurring Operating Expenses (-)
$216.00
154.00
78.00
77.00
156.00
Operating Expenses (-)
$3447.00
4446.00
12051.00
10991.00
11943.00
11397.00
11351.00
12309.00
12730.00
5308.00
3355.00
3455.00
3769.00
876.00
0.75%Costs & Expenses (Total) (-)
$11895.00
13153.00
13624.00
12515.00
13171.00
12169.00
12153.00
13232.00
13812.00
14047.00
12475.00
12663.00
13905.00
3264.00
3602.00
1.31%10.36%Operating Income/Loss (+)
$2232.00
1839.00
1429.00
1810.00
244.00
936.00
1582.00
834.00
1119.00
-1464.00
2182.00
1381.00
1996.00
519.00
629.00
-0.93%21.19%Non-operating Income/Expense (+)
$
26.00
54.00
-71.00
50.00
122.00
139.00
120.00
28.00
26.00
-7.14%Interest Expense (-)
$522.00
440.00
442.00
498.00
520.00
536.00
646.00
574.00
591.00
515.00
424.00
378.00
376.00
95.00
103.00
-2.70%8.42%Earnings before Tax (+)
$2232.00
1399.00
1429.00
1810.00
244.00
936.00
1582.00
834.00
1119.00
-1464.00
2182.00
1381.00
1996.00
519.00
629.00
-0.93%21.19%Tax Expense (-)
$536.00
289.00
360.00
457.00
-43.00
220.00
170.00
128.00
248.00
173.00
479.00
278.00
451.00
115.00
144.00
-1.43%25.22%Income/Loss (Continuing Operations) (+)
$1696.00
1110.00
1069.00
1353.00
287.00
716.00
1412.00
706.00
871.00
-1637.00
1703.00
1103.00
1545.00
404.00
485.00
-0.77%20.05%Income/Loss (Discontinued Operations) (+)
$
-391.00
Profit/Loss (+)
$1696.00
1110.00
1069.00
962.00
287.00
716.00
1412.00
706.00
871.00
-1291.00
1703.00
1103.00
1545.00
404.00
485.00
-0.77%20.05%Net Income/Loss (NCI) (-)
$632.00
542.00
474.00
371.00
27.00
62.00
248.00
70.00
-61.00
360.00
125.00
91.00
111.00
29.00
28.00
-13.49%-3.45%Net Income/Loss (+)
$1064.00
568.00
595.00
591.00
260.00
654.00
1164.00
636.00
932.00
-931.00
1578.00
1012.00
1434.00
375.00
457.00
2.52%21.87%Net Income/Loss (Common) (+)
$1064.00
568.00
595.00
591.00
260.00
654.00
1164.00
636.00
932.00
-931.00
1578.00
1012.00
1434.00
375.00
457.00
2.52%21.87%EPS (Basic)
$2.63
1.44
1.53
1.55
0.72
1.93
3.46
1.99
3.08
-3.32
6.08
4.17
6.30
1.61
2.05
7.55%27.33%EPS (Diluted)
$2.63
1.43
1.53
1.55
0.72
3.45
1.99
3.07
-3.32
6.07
4.16
6.29
1.61
2.05
7.54%27.33%Weighted Avg Shares (Basic)
404.53
395.12
388.64
381.92
362.43
337.95
336.61
319.06
302.70
280.32
259.67
242.83
227.48
233.30
222.47
-4.68%-4.64%Weighted Avg Shares (Diluted)
405.32
395.87
389.51
382.55
362.69
338.31
337.50
319.93
303.35
280.32
260.20
243.28
227.81
233.62
222.78
-4.69%-4.64%Cash
$129.00
228.00
295.00
364.00
440.00
327.00
472.00
405.00
336.00
478.00
621.00
532.00
399.00
594.00
556.00
9.87%-6.40%Short-term Investments
$5105.00
5835.00
6800.00
6014.00
4810.00
4765.00
4646.00
3869.00
4628.00
4674.00
6534.00
5993.00
5446.00
5136.00
6492.00
0.54%26.40%Receivables
$9259.00
9366.00
9361.00
7770.00
8041.00
7644.00
7613.00
7960.00
7675.00
7833.00
9273.00
9403.00
9660.00
9416.00
9754.00
0.35%3.59%Securities & Long-term Investments
$49028.00
53048.00
52973.00
52032.00
49400.00
50711.00
52226.00
48186.00
51250.00
53844.00
53938.00
46768.00
49369.00
47589.00
50723.00
0.06%6.59%Property, Plant & Equipment (Net)
$13618.00
13935.00
14498.00
15611.00
15477.00
15230.00
15427.00
15511.00
15568.00
10451.00
9888.00
10027.00
10718.00
10098.00
10723.00
-1.98%6.19%Goodwill & Intangibles
$908.00
996.00
357.00
374.00
351.00
346.00
659.00
665.00
767.00
785.00
349.00
346.00
347.00
346.00
347.00
-7.70%0.29%Other Assets
$2433.00
2448.00
2455.00
2216.00
2320.00
2336.00
3189.00
1720.00
2019.00
2171.00
1023.00
2425.00
3258.00
3381.00
2311.00
2.46%-31.65%Assets (Total)
$75375.00
80021.00
79939.00
78367.00
76029.00
76594.00
79586.00
78316.00
82243.00
80236.00
81626.00
75494.00
79197.00
76560.00
80906.00
0.41%5.68%Accounts Payable
$
3402.00
3779.00
4023.00
4503.00
4714.00
4710.00
Debt (Current)
$88.00
19.00
840.00
335.00
1040.00
110.00
280.00
17.00
77.00
37.00
93.00
854.00
1084.00
908.00
1678.00
23.28%84.80%Insurance Liabilities
$37554.00
40005.00
38394.00
36380.00
36486.00
36431.00
37212.00
36764.00
38614.00
41143.00
43171.00
41624.00
44196.00
42966.00
30634.00
1.37%-28.70%Securities (Liabilities)
$162.00
205.00
143.00
673.00
567.00
150.00
60.00
42.00
108.00
92.00
90.00
133.00
79.00
220.00
202.00
-5.81%-8.18%Debt (Non-current)
$8913.00
9191.00
10006.00
10333.00
9543.00
10668.00
11253.00
11359.00
11456.00
10072.00
8986.00
8165.00
7919.00
8150.00
8425.00
-0.98%3.37%Other Liabilities
$5385.00
5925.00
11098.00
5996.00
5583.00
5874.00
6215.00
5346.00
6279.00
5688.00
5608.00
4526.00
9394.00
4292.00
22969.00
4.75%435.16%Liabilities (Total)
$52102.00
55345.00
60481.00
53717.00
53219.00
53233.00
55020.00
56930.00
60313.00
61055.00
62451.00
60016.00
62672.00
61246.00
63908.00
1.55%4.35%Treasury Stock
$
10.00
20.00
5.00
13.00
-7.00
3.00
12.00
7.00
498.00
24.00
-95.18%Retained Earnings
$14957.00
15192.00
15508.00
15515.00
14731.00
15196.00
16096.00
15773.00
15823.00
14150.00
14776.00
15144.00
15617.00
15293.00
16060.00
0.36%5.02%AOCI
$375.00
678.00
339.00
280.00
-357.00
-223.00
-26.00
-880.00
-68.00
581.00
186.00
-3284.00
-2497.00
-3062.00
-2401.00
21.59%Shareholder's Equity
$23273.00
24676.00
19458.00
24650.00
22810.00
23361.00
24566.00
21386.00
21930.00
19181.00
19175.00
15478.00
16525.00
15314.00
16998.00
-2.81%11.00%Liabilities & Equity
$75375.00
80021.00
79939.00
78367.00
76029.00
76594.00
79586.00
78316.00
82243.00
80236.00
81626.00
75494.00
79197.00
76560.00
80906.00
0.41%5.68%Net Income/Loss
$1696.00
1110.00
1069.00
962.00
287.00
716.00
1412.00
706.00
871.00
-1291.00
1703.00
1103.00
1545.00
404.00
485.00
-0.77%20.05%Depreciation & Amortization
$769.00
-50.00
-24.00
3.00
17.00
814.00
834.00
842.00
854.00
801.00
434.00
380.00
347.00
-6.42%Increase/Decrease in Working Capital
$-1048.00
-336.00
429.00
-285.00
-1270.00
320.00
-218.00
-1843.00
211.00
-3062.00
-785.00
-1274.00
-1708.00
-111.00
462.00
516.22%Adjustments to Reconcile Net Income
$2269.00
1744.00
1028.00
2028.00
3260.00
1537.00
1178.00
3516.00
870.00
3029.00
920.00
2184.00
2362.00
315.00
-287.00
0.34%-191.11%Net Cash (Operating)
$3965.00
2854.00
2097.00
2990.00
3547.00
2253.00
2590.00
4222.00
1741.00
1745.00
2623.00
3314.00
3907.00
719.00
198.00
-0.12%-72.46%Capital Expenditure
$1658.00
2002.00
1790.00
3201.00
1712.00
1199.00
2170.00
919.00
1158.00
-1316.00
-15.00
723.00
1087.00
159.00
136.00
-3.46%-14.47%Net Cash (Investing)
$-1903.00
-3095.00
-3298.00
-1470.00
-1935.00
-2187.00
-2655.00
-1444.00
-671.00
-1414.00
-1187.00
-2347.00
-2745.00
-134.00
-1026.00
-665.67%Increase/Decrease in Debt
$-511.00
242.00
1761.00
-265.00
-101.00
196.00
656.00
-178.00
120.00
4385.00
6.00
-67.00
-100.00
36.00
1098.00
2950.00%Increase/Decrease in Equity
$-556.00
650.00
147.00
-616.00
-1258.00
-134.00
-216.00
-1026.00
-1051.00
923.00
-1136.00
-729.00
-849.00
-462.00
-24.00
94.81%Dividends Paid
$500.00
549.00
597.00
433.00
255.00
218.00
223.00
201.00
174.00
-169.00
129.00
159.00
131.00
59.00
70.00
-10.56%18.64%Net Cash (Financing)
$-2053.00
336.00
1271.00
-1442.00
-1525.00
-166.00
201.00
-2835.00
-1144.00
-198.00
-1289.00
-1037.00
-1300.00
-524.00
987.00
288.36%Effect of Exchange Rate
$
4.00
-3.00
-8.00
-11.00
-13.00
9.00
-10.00
5.00
9.00
-4.00
-19.00
5.00
1.00
-2.00
-300.00%Increase/Decrease in Cash
$9.00
99.00
67.00
70.00
76.00
-113.00
145.00
-67.00
-69.00
142.00
143.00
-89.00
-133.00
62.00
157.00
153.23%Cash (Beginning)
$
472.00
405.00
336.00
478.00
621.00
532.00
532.00
399.00
-25.00%Cash (Ending)
$
405.00
336.00
478.00
621.00
532.00
399.00
594.00
556.00
-6.40%NOPAT
$1696.00
1459.11
1069.00
1353.00
287.00
716.00
1412.00
706.00
871.00
-1637.00
1703.00
1103.00
1545.00
404.00
485.00
-0.77%20.05%Gross Margin %
89.55%
89.36%
90.85%
94.11%
94.16%
93.44%
92.75%
Operating Margin %
15.80%
12.64%
9.49%
12.64%
1.82%
7.14%
11.52%
5.93%
7.49%
-11.63%
14.89%
9.83%
12.55%
13.72%
14.87%
NOPAT Margin %
12.01%
10.03%
7.10%
9.45%
2.14%
5.46%
10.28%
5.02%
5.83%
-13.01%
11.62%
7.85%
9.72%
10.68%
11.46%
Net Margin %
7.53%
3.90%
3.95%
4.13%
1.94%
4.99%
8.47%
4.52%
6.24%
-7.40%
10.77%
7.21%
9.02%
9.91%
10.80%
Tax Rate %
24.01%
20.66%
25.19%
25.25%
-17.62%
23.50%
10.75%
15.35%
22.16%
-11.82%
21.95%
20.13%
22.60%
22.16%
22.89%
ROA
2.25%
1.82%
1.34%
1.73%
0.38%
0.93%
1.77%
0.90%
1.06%
-2.04%
2.09%
1.46%
1.95%
0.53%
0.60%
ROE
7.29%
5.91%
5.49%
5.49%
1.26%
3.06%
5.75%
3.30%
3.97%
-8.53%
8.88%
7.13%
9.35%
2.64%
2.85%
ROIC
11.68%
9.77%
7.20%
8.46%
1.81%
4.60%
8.78%
3.34%
4.23%
-10.54%
10.90%
7.07%
13.96%
2.60%
4.38%
Asset Turnover
0.19
0.18
0.19
0.18
0.18
0.17
0.17
0.18
0.18
0.16
0.18
0.19
0.20
0.05
0.05
Equity Multiplier
3.24
3.24
4.11
3.18
3.33
3.28
3.24
3.66
3.75
4.18
4.26
4.88
4.79
5.00
4.76
Current Ratio
164.69
812.05
19.59
42.23
12.78
115.78
45.47
3.58
3.28
3.20
3.57
2.86
14.30
2.70
10.01
Quick Ratio
164.69
812.05
19.59
42.23
12.78
115.78
45.47
3.58
3.28
3.20
3.57
2.86
14.30
2.70
10.01
Debt/Equity Ratio
0.39
0.37
0.56
0.43
0.46
0.46
0.47
0.53
0.53
0.53
0.47
0.58
0.54
0.59
0.59
Working Capital/Sales
0.35
0.28
0.34
0.37
0.37
1.34
Dividend Payout Ratio %
29.48%
37.63%
55.85%
32.00%
88.85%
30.45%
15.79%
28.47%
19.98%
-10.32%
7.57%
14.42%
8.48%
14.60%
14.43%
Total Payout
$1567.00
-343.00
-1311.00
1314.00
1614.00
156.00
-217.00
1405.00
1105.00
-5477.00
1259.00
955.00
1080.00
485.00
-1004.00
-3.05%-307.01%Payout Ratio %
92.39%
-23.51%
-122.64%
97.12%
562.37%
21.79%
-15.37%
199.01%
126.87%
-334.58%
73.93%
86.58%
69.90%
120.05%
-207.01%