Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2011

Consolidating Financial Information [Abstract]

Consolidating Balance Sheet Information

September 30, 2011	CNA Financial		Diamond Offshore		HighMount		Boardwalk Pipeline		Loews Hotels		Corporate and Other		Eliminations			Total
(In millions)
Assets:
Investments	$	44,105	$	1,129	$	149	$	76	$	67	$	4,099				$	49,625
Cash		84		21		1		10		10		2					128
Receivables		9,164		625		90		85		33		215	$	(103	)		10,109
Property, plant and equipment		284		4,612		1,407		6,253		335		44					12,935
Deferred income taxes		234				516								(750	)		—
Goodwill		86		20		584		163		3							856
Investments in capital stocks of subsidiaries												16,272		(16,272	)		—
Other assets		640		442		16		314		23		16					1,451
Deferred acquisition costs of insurance subsidiaries		783															783
Separate account business		418															418
Total assets	$	55,798	$	6,849	$	2,763	$	6,901	$	471	$	20,648	$	(17,125	)	$	76,305
Liabilities and Equity:
Insurance reserves	$	37,851														$	37,851
Payable to brokers		283	$	14	$	86					$	184					567
Short term debt		100				1,100			$	6							1,206
Long term debt		2,538		1,488			$	3,198		209		693	$	(100	)		8,026
Deferred income taxes				510				469		56		517		(750	)		802
Other liabilities		2,698		553		79		345		13		185		(3	)		3,870
Separate account business		418															418
Total liabilities		43,888		2,565		1,265		4,012		284		1,579		(853	)		52,740
Total shareholders' equity		10,603		2,172		1,498		1,717		187		19,069		(16,272	)		18,974
Noncontrolling interests		1,307		2,112				1,172									4,591
Total equity		11,910		4,284		1,498		2,889		187		19,069		(16,272	)		23,565
Total liabilities and equity	$	55,798	$	6,849	$	2,763	$	6,901	$	471	$	20,648	$	(17,125	)	$	76,305

Loews Corporation

Consolidating Balance Sheet Information

December 31, 2010	CNA Financial		Diamond Offshore		HighMount		Boardwalk Pipeline		Loews Hotels		Corporate and Other		Eliminations			Total
(In millions)
Assets:
Investments	$	42,655	$	1,055	$	128	$	52	$	57	$	4,960				$	48,907
Cash		77		22		2		7		10		2					120
Receivables		9,224		671		109		71		33		169	$	(135	)		10,142
Property, plant and equipment		286		4,291		1,350		6,326		347		36					12,636
Deferred income taxes		699				548								(958	)		289
Goodwill		86		20		584		163		3							856
Investments in capital stocks of subsidiaries												15,314		(15,314	)		—
Other assets		724		678		27		339		24		6					1,798
Deferred acquisition costs of insurance subsidiaries		1,079															1,079
Separate account business		450															450
Total assets	$	55,280	$	6,737	$	2,748	$	6,958	$	474	$	20,487	$	(16,407	)	$	76,277
Liabilities and Equity:
Insurance reserves	$	37,590														$	37,590
Payable to brokers		239			$	115	$	2			$	329					685
Short term debt		400							$	72		175					647
Long term debt		2,251	$	1,487		1,100		3,252		148		692	$	(100	)		8,830
Deferred income taxes				533				410		54		523		(958	)		562
Other liabilities		2,877		831		93		372		21		248		(35	)		4,407
Separate account business		450															450
Total liabilities		43,807		2,851		1,308		4,036		295		1,967		(1,093	)		53,171
Total shareholders' equity		9,838		1,972		1,440		1,815		179		18,520		(15,314	)		18,450
Noncontrolling interests		1,635		1,914				1,107									4,656
Total equity		11,473		3,886		1,440		2,922		179		18,520		(15,314	)		23,106
Total liabilities and equity	$	55,280	$	6,737	$	2,748	$	6,958	$	474	$	20,487	$	(16,407	)	$	76,277

Consolidating Statement Of Income Information

Nine Months Ended September 30, 2011	CNA Financial			Diamond Offshore			HighMount			Boardwalk Pipeline			Loews Hotels			Corporate and Other			Eliminations			Total
(In millions)
Revenues:
Insurance premiums	$	4,942																				$	4,942
Net investment income		1,531		$	4								$	1		$	(23	)					1,513
Intercompany interest and dividends																	467		$	(467	)		—
Investment gains		14			1																		15
Contract drilling revenues					2,520																		2,520
Other		215			58		$	297		$	843			250			(1	)		(4	)		1,658
Total		6,702			2,583			297			843			251			443			(471	)		10,648
Expenses:
Insurance claims and policyholders' benefits		4,131																					4,131
Amortization of deferred acquisition costs		1,051																					1,051
Contract drilling expenses					1,142																		1,142
Other operating expenses		733			406			183			569			231			49			(4	)		2,167
Interest		142			60			36			133			7			34			(6	)		406
Total		6,057			1,608			219			702			238			83			(10	)		8,897
Income before income tax		645			975			78			141			13			360			(461	)		1,751
Income tax (expense) benefit		(201	)		(229	)		(28	)		(35	)		(5	)		34						(464	)
Net income		444			746			50			106			8			394			(461	)		1,287
Amounts attributable to noncontrolling interests		(58	)		(383	)					(50	)											(491	)
Net income attributable to Loews Corporation	$	386		$	363		$	50		$	56		$	8		$	394		$	(461	)	$	796

Nine Months Ended September 30, 2010	CNA Financial			Diamond Offshore			HighMount			Boardwalk Pipeline			Loews Hotels			Corporate and Other			Eliminations			Total
(In millions)
Revenues:
Insurance premiums	$	4,868																				$	4,868
Net investment income		1,692		$	2								$	1		$	102						1,797
Intercompany interest and dividends																	582		$	(582	)		—
Investment gains (losses)		125					$	(31	)														94
Contract drilling revenues					2,405																		2,405
Other		226			111			351		$	821			229			(2	)					1,736
Total		6,911			2,518			320			821			230			682			(582	)		10,900
Expenses:
Insurance claims and policyholders' benefits		3,798																					3,798
Amortization of deferred acquisition costs		1,038																					1,038
Contract drilling expenses					1,009																		1,009
Other operating expenses		1,319			420			197			513			219			46						2,714
Interest		113			66			49			112			7			43			(6	)		384
Total		6,268			1,495			246			625			226			89			(6	)		8,943
Income before income tax		643			1,023			74			196			4			593			(576	)		1,957
Income tax expense		(185	)		(336	)		(37	)		(51	)		(3	)		(7	)					(619	)
Income from continuing operations		458			687			37			145			1			586			(576	)		1,338
Discontinued operations, net		(21	)																				(21	)
Net income		437			687			37			145			1			586			(576	)		1,317
Amounts attributable to noncontrolling interests		(76	)		(354	)					(65	)											(495	)
Net income attributable to Loews Corporation	$	361		$	333		$	37		$	80		$	1		$	586		$	(576	)	$	822