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Schedule II. Condensed Financial Information of Registrant (Parent Company) | 12 Months Ended
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Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule II. Condensed Financial Information of Registrant (Parent Company) | SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) CNA Financial Corporation Statements of Operations and Comprehensive Income (Loss)
Years ended December 31 |  |  |  |  |
(In millions) | 2017 |  | 2016 |  | 2015
Revenues |  |  |  |  |
Net investment income | $ | 6 |  |  | $ | 3 |  |  | $ | 1 |
Net realized investment (losses) gains | (42 | ) |  | (7 | ) |  | 5 |
Total revenues | (36 | ) |  | (4 | ) |  | 6 |
Expenses |  |  |  |  |
Administrative and general | 2 |  |  | 1 |  |  | 1 |
Interest | 152 |  |  | 155 |  |  | 154 |
Total expenses | 154 |  |  | 156 |  |  | 155 |
Loss from operations before income taxes and equity in net income of subsidiaries | (190 | ) |  | (160 | ) |  | (149 | )
Income tax benefit | 57 |  |  | 41 |  |  | 34 |
Loss before equity in net income of subsidiaries | (133 | ) |  | (119 | ) |  | (115 | )
Equity in net income of subsidiaries | 1,032 |  |  | 978 |  |  | 594 |
Net income | 899 |  |  | 859 |  |  | 479 |
Equity in other comprehensive income of subsidiaries | 205 |  |  | 142 |  |  | (715 | )
Total comprehensive income (loss) | $ | 1,104 |  |  | $ | 1,001 |  |  | $ | (236 | )
See accompanying Notes to Condensed Financial Information as well as the Consolidated Financial Statements and accompanying Notes. CNA Financial Corporation Balance Sheets
December 31 |  |  |
(In millions, except share data) | 2017 |  | 2016
Assets |  |  |
Investment in subsidiaries | $ | 14,481 |  |  | $ | 14,202 |
Cash | 1 |  |  | 1 |
Short term investments | 638 |  |  | 487 |
Amounts due from affiliates | 4 |  |  | 6 |
Other assets | 1 |  |  | 1 |
Total assets | $ | 15,125 |  |  | $ | 14,697 |
Liabilities |  |  |
Short term debt | $ | 150 |  |  | $ | — |
Long term debt | 2,678 |  |  | 2,680 |
Other liabilities | 53 |  |  | 48 |
Total liabilities | 2,881 |  |  | 2,728 |
Stockholders' Equity |  |  |
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 271,205,390 and 270,495,998 shares outstanding) | 683 |  |  | 683 |
Additional paid-in capital | 2,175 |  |  | 2,173 |
Retained earnings | 9,414 |  |  | 9,359 |
Accumulated other comprehensive income | 32 |  |  | (173 | )
Treasury stock (1,834,853 and 2,544,245 shares), at cost | (60 | ) |  | (73 | )
Total stockholders' equity | 12,244 |  |  | 11,969 |
Total liabilities and stockholders' equity | $ | 15,125 |  |  | $ | 14,697 |
See accompanying Notes to Condensed Financial Information as well as the Consolidated Financial Statements and accompanying Notes. CNA Financial Corporation Statements of Cash Flows
Years ended December 31 |  |  |  |  |
(In millions) | 2017 |  | 2016 |  | 2015
Cash Flows from Operating Activities |  |  |  |  |
Net income | $ | 899 |  |  | $ | 859 |  |  | $ | 479 |
Adjustments to reconcile net income to net cash flows provided by operating activities: |  |  |  |  |
Equity in net income of subsidiaries | (1,032 | ) |  | (978 | ) |  | (594 | )
Dividends received from subsidiaries | 955 |  |  | 765 |  |  | 900 |
Net realized investment losses (gains) | 42 |  |  | 7 |  |  | (5 | )
Other, net | 36 |  |  | 21 |  |  | 4 |
Total adjustments | 1 |  |  | (185 | ) |  | 305 |
Net cash flows provided by operating activities | 900 |  |  | 674 |  |  | 784 |
Cash Flows from Investing Activities |  |  |  |  |
Change in short term investments | (146 | ) |  | (9 | ) |  | 21 |
Other, net | — |  |  | 4 |  |  | 7 |
Net cash flows (used) provided by investing activities | (146 | ) |  | (5 | ) |  | 28 |
Cash Flows from Financing Activities |  |  |  |  |
Dividends paid to common stockholders | (842 | ) |  | (813 | ) |  | (811 | )
Proceeds from the issuance of debt | 496 |  |  | 498 |  |  | — |
Repayment of debt | (391 | ) |  | (358 | ) |  | — |
Stock options exercised | — |  |  | — |  |  | 1 |
Other, net | (17 | ) |  | 1 |  |  | 1 |
Net cash flows used by financing activities | (754 | ) |  | (672 | ) |  | (809 | )
Net change in cash | — |  |  | (3 | ) |  | 3 |
Cash, beginning of year | 1 |  |  | 4 |  |  | 1 |
Cash, end of year | $ | 1 |  |  | $ | 1 |  |  | $ | 4 |
See accompanying Notes to Condensed Financial Information as well as the Consolidated Financial Statements and accompanying Notes. Notes to Condensed Financial Information A. Summary of Significant Accounting Policies Basis of Presentation The condensed financial information of CNA Financial Corporation (CNAF or the Parent Company) should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Item 8 of this Form 10-K. CNAF’s subsidiaries are accounted for using the equity method of accounting. Equity in net income of these subsidiaries is presented on the Condensed Statements of Operations as Equity in net income of subsidiaries. Loews owned approximately 89% of the outstanding common stock of CNAF as of December 31, 2017. B. Guarantees As of December 31, 2017 and 2016 CNAF had recorded liabilities of approximately $5 million related to guarantee agreements. The Parent Company believes that it is not likely that any future indemnity claims will be significantly greater than the amounts recorded. In the course of selling business entities and assets to third parties, CNAF has agreed to guarantee the performance of certain obligations of both a previously owned subsidiary and a current subsidiary. Such obligations include agreement to indemnify purchasers for losses arising out of breaches of representation and warranties with respect to the business entities or assets sold, including, in certain cases, losses arising from undisclosed liabilities or certain named litigation. The guarantee agreements may include provisions that survive indefinitely. As of December 31, 2017, the aggregate amount of quantifiable guarantee agreements in effect for sales of business entities, assets and third-party loans was $625 million. Should the company be required to make payments under the guarantee, it would have the right to seek reimbursement in certain cases from an affiliate of a previously owned subsidiary. In addition, CNAF has agreed to provide indemnification to third-party purchasers for certain losses associated with sold business entities or assets that are not limited by a contractual monetary amount. As of December 31, 2017, CNAF had outstanding unlimited indemnifications in connection with the sales of certain of its business entities or assets that included tax liabilities arising prior to a purchaser’s ownership of an entity or asset, defects in title at the time of sale, employee claims arising prior to closing and in some cases losses arising from certain litigation and undisclosed liabilities. These indemnification agreements survive until the applicable statutes of limitation expire or until the agreed upon contract terms expire. CNAF also provided guarantees, if the primary obligor fails to perform, to holders of structured settlement annuities provided by a previously owned subsidiary. As of December 31, 2017, the potential amount of future payments CNAF could be required to pay under these guarantees was approximately $1.8 billion, which will be paid over the lifetime of the annuitants. The Parent Company does not believe a payable is likely under these guarantees, as it is the beneficiary of a trust that must be maintained at a level that approximates the discounted reserves for these annuities.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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