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Schedule II. Condensed Financial Information of Registrant (Parent Company)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information 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
Years ended December 31
(In millions)202420232022
Revenues
Net investment income$42 $41 $8 
Total revenues42 41 8 
Expenses
Administrative and general2 2 1 
Interest132 126 112 
Total expenses134 128 113 
Loss from operations before income taxes and equity in net income of subsidiaries(92)(87)(105)
Income tax benefit7 4 6 
Loss before equity in net income of subsidiaries(85)(83)(99)
Equity in net income of subsidiaries1,044 1,288 781 
Net income959 1,205 682 
Equity in other comprehensive income (loss) of subsidiaries681 926 (2,238)
Total comprehensive income (loss)$1,640 $2,131 $(1,556)
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)20242023
Assets
Investment in subsidiaries$12,684 $11,948 
Cash1 1 
Short-term investments846 1,009 
Amounts due from affiliates4 4 
Other assets1 1 
Total assets$13,536 $12,963 
Liabilities
Short-term debt$— $550 
Long-term debt2,973 2,481 
Other liabilities50 39 
Total liabilities3,023 3,070 
Stockholders' Equity
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,844,681 and 270,881,457 shares outstanding)
683 683 
Additional paid-in capital2,229 2,221 
Retained earnings9,686 9,755 
Accumulated other comprehensive loss(1,991)(2,672)
Treasury stock (2,195,562 and 2,158,786 shares), at cost
(94)(94)
Total stockholders' equity10,513 9,893 
Total liabilities and stockholders' equity$13,536 $12,963 
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)202420232022
Cash Flows from Operating Activities
Net income$959 $1,205 $682 
Adjustments to reconcile net income to net cash flows provided by operating activities:
Equity in net income of subsidiaries(1,044)(1,288)(781)
Dividends received from subsidiaries995 1,055 990 
Other, net9 2 28 
Net cash flows provided by operating activities919 974 919 
Cash Flows from Investing Activities
Change in short-term investments204 (395)114 
Capital contributions to subsidiaries(6)(3)— 
Net cash flows provided (used) by investing activities198 (398)114 
Cash Flows from Financing Activities
Dividends paid to common stockholders(1,025)(787)(982)
Proceeds from the issuance of debt490 491 — 
Repayment of debt(550)(243)— 
Purchase of treasury stock(20)(24)(39)
Other, net(12)(14)(11)
Net cash flows used by financing activities(1,117)(577)(1,032)
Net change in cash— (1)1 
Cash, beginning of year1 2 1 
Cash, end of year$1 $1 $2 

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 92% of the outstanding common stock of CNAF as of December 31, 2024.