LOEWS CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
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Goodwill and Other Intangible Assets
Note 7. Goodwill and Other Intangible Assets
A summary of the changes in the carrying amount of goodwill is as follows:
| CNA Financial · Boardwalk Pipelines · Total | ||||
|---|---|---|---|---|
| (In millions) | ||||
| Balance, December 31, 2022 | $109 | $237 | $346 | |
| Other adjustments | 1 | 1 | ||
| Balance, December 31, 2023 and 2024 | 110 | 237 | 347 | |
A summary of the net carrying amount of other intangible assets is as follows:
| December 31, 2024 · December 31, 2023 | |||||
|---|---|---|---|---|---|
| Gross Carrying Amount · Accumulated Amortization · Gross Carrying Amount · Accumulated Amortization | |||||
| (In millions) | |||||
| Finite-lived intangible assets: | |||||
| Customer relationships | $93 | $24 | $93 | $21 | |
| Other | 10 | 8 | 11 | 9 | |
| Total finite-lived intangible assets | 103 | 32 | 104 | 30 | |
| Indefinite-lived intangible assets | 76 | 77 | |||
| Total other intangible assets | $179 | $32 | $181 | $30 | |
Amortization expense for each of the years ended December 31, 2024, 2023 and 2022 of$4 million,$3 million, and$3 million is reported in Operating expenses and other on the Consolidated Statements of Operations. At December 31, 2024, estimated amortization expense in each of the next five years is approximately $4 million.
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