LOEWS CORP
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 6, 2024
L$110.93+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31 · 2023 · 2022 · 2021 | |||||
|---|---|---|---|---|---|
| (In millions) | |||||
| Operating Activities: | |||||
| Net income | $1,545 | $891 | $1,685 | ||
| Adjustments to reconcile net income to net cash provided byoperating 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 | ||
| 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) | ||
| Year Ended December 31 | 2023 | 2022 | 2021 |
|---|---|---|---|
| (In millions) | |||
| 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) |
| Issuance of debt | 778 | 573 | 1,199 |
| Other, net | (18) | (16) | (12) |
| Net cash flow used by financing activities | (1,300) | (1,037) | (1,289) |
| Effect of foreign exchange rate on cash | 5 | (19) | (4) |
| Net change in cash | (133) | (89) | 143 |
| Cash, beginning of year | 532 | 621 | 478 |
| Cash, end of year | $399 | $532 | $621 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.