LOEWS CORP
For the period ended Mar 31, 2026. Filed May 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 4, 2026
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Corporate
Corporate operations consist primarily of investment income, interest expense and administrative costs at the Parent Company. Investment income includes earnings on cash and short-term investments held at the Parent Company to meet current and future liquidity needs, as well as results of the trading portfolio held at the Parent Company. Corporate also includes the equity method of accounting for Altium Packaging and intercompany eliminations.
The following table summarizes the results of operations for Corporate for the three months ended March 31, 2026 and 2025 as presented in Note 12 of the Notes to Consolidated Condensed Financial Statements included under Item 1 of this Report:
| Three Months Ended March 31 | 2026 | 2025 |
|---|---|---|
| (In millions) | ||
| Revenues: | ||
| Net investment loss | $(5) | |
| Intercompany eliminations | (2) | |
| Total | (7) | $— |
| Expenses: | ||
| Operating and other | 16 | 16 |
| Equity method loss | 7 | 7 |
| Interest | 22 | 18 |
| Total | 45 | 41 |
| Loss before income tax | (52) | (41) |
| Income tax benefit | 10 | 7 |
| Net loss attributable to Loews Corporation | $(42) | $(34) |
Net loss attributable to Loews Corporation increased $8 million forthe three months ended March 31, 2026 as compared with the comparable 2025 period, primarily due to the reasons discussed below.
Net investment results for the Parent Company decreased $5 million for the three months ended March 31, 2026 as compared with the comparable 2025 period, primarily due to lower results from the trading portfolio.
Interest expense increased $4 million for thethree months ended March 31, 2026 as compared with the comparable 2025 period, due to the issuance in February of 2026 of the Parent Company’s $500 million aggregate principal amount of 4.9% senior notes due April 1, 2036, the proceeds of which were used to redeem on March 19, 2026 the outstanding $500 million aggregate principal amount of our 3.8% senior notes due April 1, 2026.
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