Schedule of Segment Reporting Information, by Segment |
Statements of Operations and Total assets by segment are presented in the following tables.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2022 | CNA Financial | | Boardwalk Pipelines | | Loews Hotels & Co | | Corporate | | | | Total | (In millions) | | | | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | Insurance premiums | $ | 8,667 | | | | | | | | | | | $ | 8,667 | | Net investment income (loss) | 1,805 | | | $ | 3 | | | $ | 1 | | | $ | (7) | | | | | 1,802 | | Investment losses | (199) | | | | | | | | | | | (199) | | Non-insurance warranty revenue | 1,574 | | | | | | | | | | | 1,574 | | Operating revenues and other | 32 | | | 1,443 | | | 720 | | | 5 | | | | | 2,200 | | Total | 11,879 | | | 1,446 | | | 721 | | | (2) | | | | | 14,044 | | | | | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | Insurance claims and policyholders’ benefits | 6,386 | | | | | | | | | | | 6,386 | | Amortization of deferred acquisition costs | 1,490 | | | | | | | | | | | 1,490 | | Non-insurance warranty expense | 1,471 | | | | | | | | | | | 1,471 | | Operating expenses and other | 1,339 | | | 950 | | | 697 | | | 91 | | | | | 3,077 | | Equity method (income) loss | | | | | (148) | | | 9 | | | | | (139) | | Interest | 112 | | | 166 | | | 11 | | | 89 | | | | | 378 | | Total | 10,798 | | | 1,116 | | | 560 | | | 189 | | | | | 12,663 | | Income (loss) before income tax | 1,081 | | | 330 | | | 161 | | | (191) | | | | | 1,381 | | Income tax (expense) benefit | (188) | | | (83) | | | (44) | | | 37 | | | | | (278) | | Net income (loss) | 893 | | | 247 | | | 117 | | | (154) | | | | | 1,103 | | Amounts attributable to noncontrolling interests | (91) | | | | | | | | | | | (91) | | Net income (loss) attributable to Loews Corporation | $ | 802 | | | $ | 247 | | | $ | 117 | | | $ | (154) | | | | | $ | 1,012 | | | | | | | | | | | | | | December 31, 2022 | | | | | | | | | | | | | | | | | | | | | | | | Total assets | $ | 60,872 | | | $ | 9,640 | | | $ | 1,935 | | | $ | 3,047 | | | | | $ | 75,494 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2021 | CNA Financial | | Boardwalk Pipelines | | Loews Hotels & Co | | Corporate (a) | | | | Total | (In millions) | | | | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | Insurance premiums | $ | 8,175 | | | | | | | | | | | $ | 8,175 | | Net investment income | 2,159 | | | | | $ | 1 | | | $ | 99 | | | | | 2,259 | | Investment gains | 120 | | | | | | | 540 | | | | | 660 | | Non-insurance warranty revenue | 1,430 | | | | | | | | | | | 1,430 | | Operating revenues and other | 24 | | | $ | 1,349 | | | 479 | | | 281 | | | | | 2,133 | | Total | 11,908 | | | 1,349 | | | 480 | | | 920 | | | | | 14,657 | | | | | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | Insurance claims and policyholders’ benefits | 6,349 | | | | | | | | | | | 6,349 | | Amortization of deferred acquisition costs | 1,443 | | | | | | | | | | | 1,443 | | Non-insurance warranty expense | 1,328 | | | | | | | | | | | 1,328 | | Operating expenses and other | 1,191 | | | 885 | | | 503 | | | 378 | | | | | 2,957 | | Equity method (income) loss | | | | | (47) | | | 21 | | | | | (26) | | Interest | 113 | | | 161 | | | 36 | | | 114 | | | | | 424 | | Total | 10,424 | | | 1,046 | | | 492 | | | 513 | | | | | 12,475 | | Income (loss) before income tax | 1,484 | | | 303 | | | (12) | | | 407 | | | | | 2,182 | | Income tax expense | (282) | | | (68) | | | (2) | | | (127) | | | | | (479) | | Net income (loss) | 1,202 | | | 235 | | | (14) | | | 280 | | | | | 1,703 | | Amounts attributable to noncontrolling interests | (125) | | | | | | | | | | | (125) | | Net income (loss) attributable to Loews Corporation | $ | 1,077 | | | $ | 235 | | | $ | (14) | | | $ | 280 | | | | | $ | 1,578 | | | | | | | | | | | | | | December 31, 2021 | | | | | | | | | | | | | | | | | | | | | | | | Total assets | $ | 66,588 | | | $ | 9,418 | | | $ | 1,671 | | | $ | 3,949 | | | | | $ | 81,626 | |
| | | | | | (a) | Amounts include the consolidated results of Altium Packaging through March 31, 2021. Beginning April 1, 2021, Altium Packaging is recorded as an equity method investment. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CNA | | Boardwalk | | Loews | | | | Diamond | | | Year Ended December 31, 2020 | Financial | | Pipelines | | Hotels & Co | | Corporate (a) | | Offshore (b) | | Total | (In millions) | | | | | | | | | | | | | | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | Insurance premiums | $ | 7,649 | | | | | | | | | | | $ | 7,649 | | Net investment income | 1,935 | | | | | $ | 1 | | | $ | 59 | | | | | 1,995 | | Investment losses | (35) | | | | | | | (1,211) | | | | | (1,246) | | Non-insurance warranty revenue | 1,252 | | | | | | | | | | | 1,252 | | Operating revenues and other | 26 | | | $ | 1,302 | | | 277 | | | 1,023 | | | $ | 305 | | | 2,933 | | Total | 10,827 | | | 1,302 | | | 278 | | | (129) | | | 305 | | | 12,583 | | | | | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | Insurance claims and policyholders’ benefits | 6,170 | | | | | | | | | | | 6,170 | | Amortization of deferred acquisition costs | 1,410 | | | | | | | | | | | 1,410 | | Non-insurance warranty expense | 1,159 | | | | | | | | | | | 1,159 | | Operating expenses and other | 1,125 | | | 855 | | | 446 | | | 1,098 | | | 1,196 | | | 4,720 | | Equity method loss | | | | | 73 | | | | | | | 73 | | Interest | 142 | | | 170 | | | 33 | | | 127 | | | 43 | | | 515 | | Total | 10,006 | | | 1,025 | | | 552 | | | 1,225 | | | 1,239 | | | 14,047 | | Income (loss) before income tax | 821 | | | 277 | | | (274) | | | (1,354) | | | (934) | | | (1,464) | | Income tax (expense) benefit | (131) | | | (71) | | | 62 | | | 287 | | | 26 | | | 173 | | Net income (loss) | 690 | | | 206 | | | (212) | | | (1,067) | | | (908) | | | (1,291) | | Amounts attributable to noncontrolling interests | (72) | | | | | | | | | 432 | | | 360 | | Net income (loss) attributable to Loews Corporation | $ | 618 | | | $ | 206 | | | $ | (212) | | | $ | (1,067) | | | $ | (476) | | | $ | (931) | |
| | | | | | (b) | Amounts presented for Diamond Offshore reflects the period prior to its deconsolidation. |
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