Business Segments

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Business Segments

10.  Business Segments

The Company’s segments are CNA’s Financial core property and casualty commercial insurance operations, including Specialty, Commercial, International and Other Non-Core operations; Diamond Offshore; Boardwalk Pipeline; Loews Hotels; and Corporate and other. The Company’s reportable segments are primarily based on its individual operating subsidiaries. Each of the principal operating subsidiaries is headed by a chief executive officer who is responsible for the operation of its business and has the duties and authority commensurate with that position. Investment gains (losses) and the related income taxes, excluding those of CNA, are included in the Corporate and other segment.

The following tables set forth the Company’s consolidated revenues and income (loss) by business segment:

Three Months Ended March 31	2016		2015
(In millions)
Revenues (a):
CNA Financial:
Property and Casualty:
Specialty		$        865		$        917
Commercial		802		895
International		215		206
Other Non-Core		321		334
Total CNA Financial		2,203		2,352
Diamond Offshore		471		627
Boardwalk Pipeline		347		330
Loews Hotels		163		139
Corporate and other		(11)		30
Total		$     3,173		$     3,478
Income (loss) before income tax and noncontrolling interests (a):
CNA Financial:
Property and Casualty:
Specialty		$        180		$        207
Commercial		95		186
International		10		13
Other Non-Core		(227)		(92)
Total CNA Financial		58		314
Diamond Offshore		83		(287)
Boardwalk Pipeline		99		77
Loews Hotels		9		10
Corporate and other		(54)		(9)
Total		$        195		$        105
Net income (loss) (a):
CNA Financial:
Property and Casualty:
Specialty		$        107		$        123
Commercial		56		110
International		8		9
Other Non-Core		(111)		(32)
Total CNA Financial		60		210
Diamond Offshore		43		(126)
Boardwalk Pipeline		31		25
Loews Hotels		3		5
Corporate and other		(35)		(5)
Total		$        102		$        109

(a) Investment gains (losses) included in Revenues, Income (loss) before income tax and noncontrolling interests and Net income (loss) are as follows:

Three Months Ended March 31	2016		2015
Revenues and Income (loss) before income tax and noncontrolling interests:
CNA Financial:
Property and Casualty:
Specialty		$          (11)		$            4
Commercial		(18)		4
International		4		1
Other Non-Core		(3)		1
Total		$          (28)		$          10
Net income (loss):
CNA Financial:
Property and Casualty:
Specialty		$            (7)		$            2
Commercial		(10)		3
International		3		1
Other Non-Core		(3)		2
Total		$          (17)		$            8