Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Text Block [Abstract]

Consolidating Balance Sheet Information

Loews Corporation

Consolidating Balance Sheet Information

December 31, 2015	CNA Financial		Diamond Offshore		Boardwalk Pipeline		Loews Hotels		Corporate and Other		Eliminations			Total
(In millions)
Assets:
Investments	$	44,699	$	117			$	81	$	4,503				$	49,400
Cash		387		13	$	4		12		24					440
Receivables		7,384		409		93		35		96	$	24			8,041
Property, plant and equipment		333		6,382		7,712		1,003		47					15,477
Deferred income taxes		662						3		68		(733	)		-
Goodwill		114				237									351
Investments in capital stocks of subsidiaries										15,129		(15,129	)		-
Other assets		850		235		330		288				19			1,722
Deferred acquisition costs of insurance subsidiaries		598													598
Total assets	$	55,027	$	7,156	$	8,376	$	1,422	$	19,867	$	(15,819	)	$	76,029
Liabilities and Equity:
Insurance reserves	$	36,486												$	36,486
Payable to brokers		358							$	209					567
Short term debt		351	$	287			$	2		400					1,040
Long term debt		2,215		1,982	$	3,469		596		1,281					9,543
Deferred income taxes		5		276		766		47			$	(712	)		382
Other liabilities		3,883		496		510		70		220		22			5,201
Total liabilities		43,298		3,041		4,745		715		2,110		(690	)		53,219
Total shareholders’ equity		10,516		2,195		1,517		705		17,757		(15,129	)		17,561
Noncontrolling interests		1,213		1,920		2,114		2							5,249
Total equity		11,729		4,115		3,631		707		17,757		(15,129	)		22,810
Total liabilities and equity	$	55,027	$	7,156	$	8,376	$	1,422	$	19,867	$	(15,819	)	$	76,029

Loews Corporation    

Consolidating Balance Sheet Information

December 31, 2014	CNA Financial		Diamond Offshore		Boardwalk Pipeline		Loews Hotels		Corporate and Other		Eliminations			Total
(In millions)
Assets:
Investments	$	46,262	$	234			$	75	$	5,461				$	52,032
Cash		190		16	$	8		9		141					364
Receivables		7,097		490		128		29		82	$	(56	)		7,770
Property, plant and equipment		280		6,949		7,649		671		62					15,611
Deferred income taxes		222						2		374		(598	)		-
Goodwill		117		20		237									374
Investments in capital stocks of subsidiaries										15,974		(15,974	)		-
Other assets		778		307		304		206		7		14			1,616
Deferred acquisition costs of insurance subsidiaries		600													600
Total assets	$	55,546	$	8,016	$	8,326	$	992	$	22,101	$	(16,614	)	$	78,367
Liabilities and Equity:
Insurance reserves	$	36,380												$	36,380
Payable to brokers		117	$	5					$	551					673
Short term debt				250			$	85							335
Long term debt		2,561		1,981	$	3,690		421		1,680					10,333
Deferred income taxes		11		514		732		36			$	(400	)		893
Other liabilities		3,713		792		400		17		421		(240	)		5,103
Total liabilities		42,782		3,542		4,822		559		2,652		(640	)		53,717
Total shareholders’ equity		11,457		2,359		1,558		431		19,449		(15,974	)		19,280
Noncontrolling interests		1,307		2,115		1,946		2							5,370
Total equity		12,764		4,474		3,504		433		19,449		(15,974	)		24,650
Total liabilities and equity	$	55,546	$	8,016	$	8,326	$	992	$	22,101	$	(16,614	)	$	78,367

Consolidating Statement of Income Information

Loews Corporation

Consolidating Statement of Income Information

Year Ended December 31, 2015	CNA Financial			Diamond Offshore			Boardwalk Pipeline			Loews Hotels			Corporate and Other		Eliminations			Total
(In millions)
Revenues:
Insurance premiums	$	6,921																$	6,921
Net investment income		1,840		$	3		$	1					$	22					1,866
Intercompany interest and dividends														816	$	(816	)		-
Investment losses		(71	)																(71	)
Contract drilling revenues					2,360														2,360
Other revenues		411			65			1,253		$	604			6					2,339
Total		9,101			2,428			1,254			604			844		(816	)		13,415
Expenses:
Insurance claims and policyholders’ benefits		5,384																	5,384
Amortization of deferred acquisition costs		1,540																	1,540
Contract drilling expenses					1,228														1,228
Other operating expenses		1,469			1,508			851			555			116					4,499
Interest		155			94			176			21			74					520
Total		8,548			2,830			1,027			576			190		-			13,171
Income (loss) before income tax		553			(402	)		227			28			654		(816	)		244
Income tax (expense) benefit		(71	)		117			(46	)		(16	)		59					43
Net income (loss)		482			(285	)		181			12			713		(816	)		287
Amounts attributable to noncontrolling interests		(49	)		129			(107	)										(27	)
Net income (loss) attributable to Loews Corporation	$	433		$	(156	)	$	74		$	12		$	713	$	(816	)	$	260

Loews Corporation

Consolidating Statement of Income Information

Year Ended December 31, 2014	CNA Financial			Diamond Offshore			Boardwalk Pipeline			Loews Hotels			Corporate and Other			Eliminations			Total
(In millions)
Revenues:
Insurance premiums	$	7,212																	$	7,212
Net investment income		2,067		$	1		$	1					$	94						2,163
Intercompany interest and dividends														782		$	(782	)		-
Investment gains		54																		54
Contract drilling revenues					2,737															2,737
Other revenues		359			87			1,235		$	475			3						2,159
Total		9,692			2,825			1,236			475			879			(782	)		14,325
Expenses:
Insurance claims and policyholders’ benefits		5,591																		5,591
Amortization of deferred acquisition costs		1,317																		1,317
Contract drilling expenses					1,524															1,524
Other operating expenses		1,386			725			931			440			103						3,585
Interest		183			62			165			14			74						498
Total		8,477			2,311			1,096			454			177			-			12,515
Income before income tax		1,215			514			140			21			702			(782	)		1,810
Income tax (expense) benefit		(322	)		(142	)		(11	)		(10	)		28						(457	)
Income from continuing operations		893			372			129			11			730			(782	)		1,353
Discontinued operations, net		(197	)											(194	)					(391	)
Net income		696			372			129			11			536			(782	)		962
Amounts attributable to noncontrolling interests		(71	)		(189	)		(111	)											(371	)
Net income attributable to Loews Corporation	$	625		$	183		$	18		$	11		$	536		$	(782	)	$	591

Loews Corporation

Consolidating Statement of Income Information

Year Ended December 31, 2013	CNA Financial				Diamond Offshore				Boardwalk Pipeline				Loews Hotels				Corporate and Other				Eliminations				Total
(In millions)
Revenues:
Insurance premiums		$	7,271																							$	7,271
Net investment income			2,282			$	1			$	1							$	141								2,425
Intercompany interest and dividends																			736			$	(736	)			-
Investment gains			16																								16
Contract drilling revenues							2,844																				2,844
Other revenues			363				81				1,231			$	380				2								2,057
Total			9,932				2,926				1,232				380				879				(736	)			14,613
Expenses:
Insurance claims and policyholders’ benefits			5,806																								5,806
Amortization of deferred acquisition costs			1,362																								1,362
Contract drilling expenses							1,573																				1,573
Other operating expenses			1,315				554				828				375				98								3,170
Interest			166				25				163				9				62								425
Total			8,649				2,152				991				384				160				-				12,336
Income (loss) before income tax			1,283				774				241				(4	)			719				(736	)			2,277
Income tax (expense) benefit			(363	)			(245	)			(56	)			1				7								(656	)
Income (loss) from continuing operations			920				529				185				(3	)			726				(736	)			1,621
Discontinued operations, net			22																(574	)							(552	)
Net income (loss)			942				529				185				(3	)			152				(736	)			1,069
Amounts attributable to noncontrolling interests			(95	)			(272	)			(107	)															(474	)
Net income (loss) attributable to Loews Corporation		$	847			$	257			$	78			$	(3	)		$	152			$	(736	)		$	595