LOEWS CORP
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
L$110.93+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31 · 2024 · 2023 · 2022 | ||||
|---|---|---|---|---|
| (In millions) | ||||
| Operating Activities: | ||||
| Net income | $1,494 | $1,545 | $891 | |
| Adjustments to reconcile net income to net cash provided byoperating activities: | ||||
| Investment losses | 81 | 53 | 199 | |
| Equity method investees | (66) | 18 | 236 | |
| Amortization of investments | (200) | (191) | (129) | |
| Depreciation and amortization | 583 | 538 | 509 | |
| Provision for deferred income taxes | (45) | 127 | (50) | |
| Other non-cash items | 98 | 109 | 90 | |
| Changes in operating assets and liabilities, net: | ||||
| Receivables | (929) | (268) | (316) | |
| Deferred acquisition costs | (69) | (85) | (79) | |
| Insurance reserves | 2,365 | 1,667 | 2,058 | |
| Other assets | 417 | (88) | (391) | |
| Other liabilities | (9) | (95) | 137 | |
| Trading securities | (695) | 577 | 159 | |
| Net cash flow provided by operating activities | 3,025 | 3,907 | 3,314 | |
| Investing Activities: | ||||
| Purchases of fixed maturities | (6,353) | (6,616) | (9,821) | |
| Proceeds from sales of fixed maturities | 2,793 | 4,029 | 5,909 | |
| Proceeds from maturities of fixed maturities | 2,396 | 1,334 | 2,358 | |
| Purchases of equity securities | (444) | (293) | (294) | |
| Proceeds from sales of equity securities | 523 | 317 | 509 | |
| Purchases of limited partnership investments | (335) | (402) | (337) | |
| Proceeds from sales of limited partnership investments | 98 | 231 | 171 | |
| Purchases of property, plant and equipment | (632) | (686) | (660) | |
| Acquisitions | (401) | |||
| Dispositions | 23 | 16 | ||
| Change in short-term investments | (30) | (80) | (27) | |
| Other, net | (14) | (178) | (171) | |
| Net cash flow used by investing activities | $(1,975) | $(2,745) | $(2,347) | |
| Year Ended December 31 | 2024 | 2023 | 2022 |
|---|---|---|---|
| (In millions) | |||
| Financing Activities: | |||
| Dividends paid | $(55) | $(57) | $(61) |
| Dividends paid to noncontrolling interests | (85) | (74) | (98) |
| Purchases of Loews Corporation treasury stock | (608) | (849) | (729) |
| Purchases of subsidiary stock from noncontrolling interests | (20) | (202) | (66) |
| Principal payments on debt | (1,366) | (878) | (640) |
| Issuance of debt | 1,294 | 778 | 573 |
| Other, net | (58) | (18) | (16) |
| Net cash flow used by financing activities | (898) | (1,300) | (1,037) |
| Effect of foreign exchange rate on cash | (10) | 5 | (19) |
| Net change in cash | 142 | (133) | (89) |
| Cash, beginning of year | 399 | 532 | 621 |
| Cash, end of year | $541 | $399 | $532 |
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