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Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2016

Text Block [Abstract]

Consolidating Balance Sheet Information

Consolidating Balance Sheet Information

September 30, 2016		CNA Financial				Diamond Offshore				Boardwalk Pipeline				Loews Hotels				Corporate and Other				Eliminations				Total
(In millions)
Assets:
Investments			$    46,980				$              76				$       105				$         98				$      5,126								$      52,385
Cash			290				5				7				18				24								344
Receivables			7,389				278				93				25				138				$          (70)				7,853
Property, plant and equipment			281				5,820				7,954				1,102				43								15,200
Deferred income taxes			241												3				58				(302)				-
Goodwill			110								237																347
Investments in capital stocks of subsidiaries																			15,250				(15,250)				-
Other assets			924				231				319				268				4				14				1,760
Deferred acquisition costs of insurance subsidiaries			619																								619
Total assets			$    56,834				$         6,410				$    8,715				$    1,514				$    20,643				$    (15,608)				$      78,508
Liabilities and Equity:
Insurance reserves			$    37,753																								$      37,753
Payable to brokers			234																$         217								451
Short term debt			1				$            182								$           2												185
Long term debt			2,713				1,981				$    3,627				642				1,774								10,737
Deferred income taxes			3				164				807				49								$        (288)				735
Other liabilities			3,960				451				546				72				282				(70)				5,241
Total liabilities			44,664				2,778				4,980				765				2,273				(358)				55,102
Total shareholders’ equity			10,915				1,936				1,552				747				18,370				(15,250)				18,270
Noncontrolling interests			1,255				1,696				2,183				2												5,136
Total equity			12,170				3,632				3,735				749				18,370				(15,250)				23,406
Total liabilities and equity			$    56,834				$         6,410				$    8,715				$    1,514				$    20,643				$    (15,608)				$      78,508

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			848				233				319				282								17				1,699
Deferred acquisition costs of insurance subsidiaries			598																								598
Total assets			$    55,025				$       7,154				$     8,365				$    1,416				$    19,867				$    (15,821)				$    76,006
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			2,213				1,980				$     3,458				590				1,279								9,520
Deferred income taxes			5				276				766				47								$         (712)				382
Other liabilities			3,883				496				510				70				222				20				5,201
Total liabilities			43,296				3,039				4,734				709				2,110				(692)				53,196
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			$    55,025				$       7,154				$     8,365				$    1,416				$    19,867				$    (15,821)				$    76,006

Consolidating Statement of Income Information

Consolidating Statement of Income Information

Nine Months Ended September 30, 2016		CNA   Financial				Diamond   Offshore				Boardwalk   Pipeline				Loews     Hotels				Corporate   and Other				Eliminations				Total
(In millions)
Revenues:
Insurance premiums		$	5,196																							$	5,196
Net investment income			1,461			$	1											$	108								1,570
Intercompany interest and dividends																			706			$	(706)				-
Investment gains (losses)			30				(12)																				18
Contract drilling revenues							1,141																				1,141
Other revenues			297				69			$	961			$	513				2								1,842
Total			6,984				1,199				961				513				816				(706)				9,767
Expenses:
Insurance claims and policyholders’ benefits			3,949																								3,949
Amortization of deferred acquisition costs			926																								926
Contract drilling expenses							598																				598
Other operating expenses			1,158				1,082				615				479				82								3,416
Interest			127				69				136				17				54								403
Total			6,160				1,749				751				496				136				-				9,292
Income (loss) before income tax			824				(550)				210				17				680				(706)				475
Income tax (expense) benefit			(203)				78				(44)				(10)				8								(171)
Net income (loss)			621				(472)				166				7				688				(706)				304
Amounts attributable to noncontrolling interests			(64)				228				(104)																60
Net income (loss) attributable to Loews Corporation		$	557			$	(244)			$	62			$	7			$	688			$	(706)			$	364

Loews Corporation

Consolidating Statement of Income Information

Nine Months Ended September 30, 2015		CNA     Financial				Diamond    Offshore				Boardwalk   Pipeline				Loews     Hotels				Corporate    and Other				Eliminations				Total
(In millions)
Revenues:
Insurance premiums		$	5,173																							$	5,173
Net investment income			1,412			$	2			$	1							$	4								1,419
Intercompany interest and dividends																			733			$	(733)				-
Investment losses			(42)																								(42)
Contract drilling revenues							1,816																				1,816
Other revenues			289				49				924			$	452				2								1,716
Total			6,832				1,867				925				452				739				(733)				10,082
Expenses:
Insurance claims and policyholders’ benefits			4,008																								4,008
Amortization of deferred acquisition costs			936																								936
Contract drilling expenses							971																				971
Other operating expenses			1,058				867				628				412				61								3,026
Interest			117				71				134				15				56								393
Total			6,119				1,909				762				427				117				-				9,334
Income (loss) before income tax			713				(42)				163				25				622				(733)				748
Income tax (expense) benefit			(162)				(6)				(33)				(10)				41								(170)
Net income (loss)			551				(48)				130				15				663				(733)				578
Amounts attributable to noncontrolling interests			(56)				14				(75)																(117)
Net income (loss) attributable to Loews Corporation		$	495			$	(34)			$	55			$	15			$	663			$	(733)			$	461

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