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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturity securities at fair value (amortized cost of $42,878 and $42,414, less allowance for credit loss of $20 and $16) $ 40,605 $ 40,425
Equity securities at fair value (cost of $681 and $686) 691 683
Limited partnership investments 2,274 2,174
Other invested assets 79 80
Mortgage loans (less allowance for credit loss of $35 and $35) 1,029 1,035
Short-term investments 1,996 2,165
Total investments 46,674 46,562
Cash 409 345
Reinsurance receivables (less allowance for uncollectible receivables of $22 and $22) 5,574 5,412
Insurance receivables (less allowance for uncollectible receivables of $26 and $28) 3,432 3,442
Accrued investment income 447 444
Deferred acquisition costs 927 896
Deferred income taxes 942 1,016
Property and equipment at cost (less accumulated depreciation of $303 and $296) 256 253
Goodwill 146 146
Deferred non-insurance warranty acquisition expense 3,621 3,661
Other assets (includes $— and $23 due from Loews Corporation) 2,647 2,534
Total assets 65,075 64,711
Insurance reserves:    
Claim and claim adjustment expenses 23,588 23,304
Unearned premiums 7,046 6,933
Future policy benefits 13,513 13,959
Short-term debt 550 550
Long-term debt 2,970 2,481
Deferred non-insurance warranty revenue 4,645 4,694
Other liabilities (includes $29 and $28 due to Loews Corporation) 3,101 2,897
Total liabilities 55,413 54,818
Commitments and contingencies (Notes C and G)  
Stockholders' Equity    
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 271,279,498 and 270,881,457 shares outstanding) 683 683
Additional paid-in capital 2,201 2,221
Retained earnings 9,425 9,755
Accumulated other comprehensive loss (2,572) (2,672)
Treasury stock (1,760,745 and 2,158,786 shares), at cost (75) (94)
Total stockholders’ equity 9,662 9,893
Total liabilities and stockholders' equity $ 65,075 $ 64,711