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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net income $ 404 $ 352
Adjustments to reconcile net income to net cash provided by operating activities, net 204 328
Changes in operating assets and liabilities, net:    
Receivables 5 (28)
Deferred acquisition costs (45) (31)
Insurance reserves 432 512
Other assets (85) (134)
Other liabilities (238) (202)
Trading securities 42 (374)
Net cash flow provided by operating activities 719 423
Investing Activities:    
Purchases of fixed maturities (2,258) (2,547)
Proceeds from sales of fixed maturities 1,414 803
Proceeds from maturities of fixed maturities 317 916
Purchases of equity securities (82) (75)
Proceeds from sales of equity securities 62 77
Purchases of limited partnership investments (116) (85)
Proceeds from sales of limited partnership investments 75 113
Purchases of property, plant and equipment (159) (121)
Change in short term investments 647 696
Other, net (34) 36
Net cash flow used by investing activities (134) (187)
Financing Activities:    
Dividends paid (15) (16)
Dividends paid to noncontrolling interests (44) (68)
Purchases of Loews Corporation treasury stock (462) (132)
Purchases of subsidiary stock from noncontrolling interests (24) (21)
Principal payments on debt (1) (300)
Issuance of debt 37 495
Other, net (15) (14)
Net cash flow used by financing activities (524) (56)
Effect of foreign exchange rate on cash 1 (3)
Net change in cash 62 177
Cash, beginning of period 532 621
Cash, end of period $ 594 $ 798