XML 26 R10.htm IDEA: XBRL DOCUMENT v3.24.0.1Close
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net income $ 1,545 $ 891 $ 1,685
Adjustments to reconcile net income to net cash provided by operating activities:      
Investment (gains) losses 53 199 (660)
Equity method investees 18 236 (74)
Amortization of investments (191) (129) (81)
Depreciation and amortization 538 509 515
Provision for deferred income taxes 127 (50) 209
Other non-cash items 109 90 81
Changes in operating assets and liabilities, net:      
Receivables (268) (316) (1,409)
Deferred acquisition costs (85) (79) (30)
Insurance reserves 1,667 2,058 2,485
Other assets (88) (391) (946)
Other liabilities (95) 137 897
Trading securities 577 159 (49)
Net cash flow provided by operating activities 3,907 3,314 2,623 Close
Investing Activities:      
Purchases of fixed maturities (6,616) (9,821) (9,307)
Proceeds from sales of fixed maturities 4,029 5,909 3,816
Proceeds from maturities of fixed maturities 1,334 2,358 4,464
Purchases of equity securities (293) (294) (304)
Proceeds from sales of equity securities 317 509 316
Purchases of limited partnership investments (402) (337) (440)
Proceeds from sales of limited partnership investments 231 171 307
Purchases of property, plant and equipment (686) (660) (482)
Acquisitions (401)
Dispositions 16 80
(Investment in) sale of interest in Altium Packaging (79) 417
Change in short-term investments (80) (27) (141)
Other, net (178) (92) 87
Net cash flow used by investing activities (2,745) (2,347) (1,187) Close
Financing Activities:      
Dividends paid (57) (61) (65)
Dividends paid to noncontrolling interests (74) (98) (64)
Purchases of Loews Corporation treasury stock (849) (729) (1,136)
Purchases of subsidiary stock from noncontrolling interests (202) (66) (18)
Principal payments on debt (878) (640) (1,193)
Payment of debt 778 573 1,199
Other, net (18) (16) (12)
Net cash flow used by financing activities (1,300) (1,037) (1,289) Close
Effect of foreign exchange rate on cash 5 (19) (4) Close
Net change in cash (133) (89) 143 Close
Cash, beginning of year 532 621 478
Cash, end of year $ 399 $ 532 $ 621