Shareholders' Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Accumulated other comprehensive income (loss)

The tables below present the changes in AOCI by component for the three months ended March 31, 2022 and 2023:

	Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses		Net Unrealized Gains (Losses) on Other Investments		Unrealized Gains (Losses) on Cash Flow Hedges		Pension and Postretirement Benefits		Cumulative impact of changes in discount rates used to measure long duration contracts		Foreign Currency Translation		Total Accumulated Other Comprehensive Income (Loss)
(In millions)
Balance, January 1, 2022, as reported	$	(2)	$	930	$	(6)	$	(636)	$	—	$	(100)	$	186
Cumulative effect adjustments from changes in accounting standards (Note 1), after tax of $0, $617, $0, $0, $(1,063) and $0			2,079						(3,585)				(1,506)
Balance, January 1, 2022, as adjusted	(2)		3,009		(6)		(636)		(3,585)		(100)		(1,320)
Other comprehensive income (loss) before reclassifications, after tax of $1, $699, $(2), $(2), $(435)and $0	(4)		(2,644)		15		2		1,635		(15)		(1,011)
Reclassification of losses from accumulated other comprehensive loss, after tax of $0, $(1), $(1), $(2), $0 and $0			1		3		5						9
Other comprehensive income (loss)	(4)		(2,643)		18		7		1,635		(15)		(1,002)
Amounts attributable to noncontrolling interests			275				(1)		(169)		1		106
Balance, March 31, 2022	$	(6)	$	641	$	12	$	(630)	$	(2,119)	$	(114)	$	(2,216)
Balance, January 1, 2023, as reported	$	(7)	$	(2,469)	$	14	$	(622)	$	—	$	(200)	$	(3,284)
Cumulative effect adjustments from changes in accounting standards (Note 1), after tax of $0, $0, $0, $0, $11 and $0									(36)				(36)
Balance, January 1, 2023, as adjusted	(7)		(2,469)		14		(622)		(36)		(200)		(3,320)
Other comprehensive income (loss) before reclassifications, after tax of $2, $(176), $1, $0, $105 and $0	(8)		652		(2)				(396)		16		262
Reclassification of losses from accumulated other comprehensive loss, after tax of $0, $(4), $0, $(2), $0 and $0			18				9						27
Other comprehensive income (loss)	(8)		670		(2)		9		(396)		16		289
Amounts attributable to noncontrolling interests	1		(68)				(1)		39		(2)		(31)
Balance, March 31, 2023	$	(14)	$	(1,867)	$	12	$	(614)	$	(393)	$	(186)	$	(3,062)

Amounts reclassified from AOCI shown above are reported in Net income (loss) as follows:

Major Category of AOCI	Affected Line Item
Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments	Investment gains (losses)
Unrealized gains (losses) on cash flow hedges	Operating revenues and other, Interest expense and Operating expenses and other
Pension and postretirement benefits	Operating expenses and other

Treasury StockLoews Corporation repurchased 8.2 million and 2.1 million shares of its common stock at aggregate costs of $486 million and $129 million during the three months ended March 31, 2023 and 2022.