falsedesktopL2020-09-30000114036120024292{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\tPage No.\nPart I. Financial Information\t\nItem 1. Financial Statements (unaudited)\t\nConsolidated Condensed Balance Sheets\t3\nSeptember 30 2020 and December 31 2019\t\nConsolidated Condensed Statements of Operations\t4\nThree and nine months ended September 30 2020 and 2019\t\nConsolidated Condensed Statements of Comprehensive Income (Loss)\t5\nThree and nine months ended September 30 2020 and 2019\t\nConsolidated Condensed Statements of Equity\t6\nThree and nine months ended September 30 2020 and 2019\t\nConsolidated Condensed Statements of Cash Flows\t8\nNine months ended September 30 2020 and 2019\t\nNotes to Consolidated Condensed Financial Statements\t9\nItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t39\nItem 3. Quantitative and Qualitative Disclosures about Market Risk\t62\nItem 4. Controls and Procedures\t62\nPart II. Other Information\t62\nItem 1. Legal Proceedings\t62\nItem 1A. Risk Factors\t62\nItem 2. Unregistered Sales of Equity Securities and Use of Proceeds\t67\nItem 6. Exhibits\t68\n", "q10k_tbl_1": "\tSeptember 30 2020\tDecember 31 2019\t\n(Dollar amounts in millions except per share data)\t\t\t\nAssets:\t\t\t\nInvestments:\t\t\t\nFixed maturities amortized cost of $38979 and $38157 less allowance for credit loss of $47 and $0\t43917\t42240\t\t\nEquity securities cost of $1391 and $1244\t1368\t\t1306\t\nLimited partnership investments\t1758\t\t2004\t\nOther invested assets primarily mortgage loans less allowance for credit loss of $21 and $0\t1176\t\t1072\t\nShort term investments\t4553\t\t4628\t\nTotal investments\t52772\t\t51250\t\nCash\t886\t\t336\t\nReceivables\t7850\t\t7675\t\nProperty plant and equipment\t10468\t\t15568\t\nGoodwill\t765\t\t767\t\nDeferred non-insurance warranty acquisition expenses\t2998\t\t2840\t\nDeferred acquisition costs of insurance subsidiaries\t697\t\t662\t\nOther assets\t3028\t\t3145\t\nTotal assets\t79464\t82243\t\t\nLiabilities and Equity:\t\t\t\t\nInsurance reserves:\t\t\t\t\nClaim and claim adjustment expense\t22534\t21720\t\t\nFuture policy benefits\t12978\t\t12311\t\nUnearned premiums\t5020\t\t4583\t\nTotal insurance reserves\t40532\t\t38614\t\nPayable to brokers\t466\t\t108\t\nShort term debt\t35\t\t77\t\nLong term debt\t10373\t\t11456\t\nDeferred income taxes\t913\t\t1168\t\nDeferred non-insurance warranty revenue\t3951\t\t3779\t\nOther liabilities\t4574\t\t5111\t\nTotal liabilities\t60844\t\t60313\t\nCommitments and contingent liabilities\t\t\t\t\nPreferred stock $0.10 par value:\t\t\t\t\nAuthorized - 100000000 shares\t\t\t\t\nCommon stock $0.01 par value:\t\t\t\t\nAuthorized - 1800000000 shares\t\t\t\t\nIssued - 291393899 and 291210222 shares\t3\t\t3\t\nAdditional paid-in capital\t3379\t\t3374\t\nRetained earnings\t14437\t\t15823\t\nAccumulated other comprehensive income (loss)\t238\t\t(68)\t\n\t18057\t\t19132\t\nLess treasury stock at cost (16353956 and 240000 shares)\t(685)\t\t(13)\t\nTotal shareholders' equity\t17372\t\t19119\t\nNoncontrolling interests\t1248\t\t2811\t\nTotal equity\t18620\t\t21930\t\nTotal liabilities and equity\t79464\t82243\t\t\n", "q10k_tbl_2": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions except per share data)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nInsurance premiums\t1953\t1890\t\t5672\t\t\t\t5517\t\t\nNet investment income\t540\t\t525\t\t1347\t\t\t\t1733\t\nInvestment gains (losses) (Note 2)\t46\t\t8\t\t(1312)\t\t\t\t41\t\nNon-insurance warranty revenue\t317\t\t292\t\t926\t\t\t\t858\t\nOperating revenues and other\t609\t\t960\t\t2241\t\t\t\t2906\t\nTotal\t3465\t\t3675\t\t8874\t\t\t\t11055\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t1616\t\t1614\t\t4683\t\t\t\t4323\t\nAmortization of deferred acquisition costs\t360\t\t345\t\t1046\t\t\t\t1025\t\nNon-insurance warranty expense\t293\t\t278\t\t859\t\t\t\t801\t\nOperating expenses and other\t876\t\t1234\t\t3894\t\t\t\t3614\t\nInterest\t137\t\t144\t\t404\t\t\t\t449\t\nTotal\t3282\t\t3615\t\t10886\t\t\t\t10212\t\nIncome (loss) before income tax\t183\t\t60\t\t(2012)\t\t\t\t843\t\nIncome tax (expense) benefit\t(21)\t\t(21)\t\t284\t\t\t\t(183)\t\nNet income (loss)\t162\t\t39\t\t(1728)\t\t\t\t660\t\nAmounts attributable to noncontrolling interests\t(23)\t\t33\t\t400\t\t\t\t55\t\nNet income (loss) attributable to Loews Corporation\t139\t72\t\t(1328)\t\t\t\t715\t\t\nBasic and diluted net income (loss) per share\t0.50\t0.24\t\t(4.70)\t\t\t\t2.34\t\t\nWeighted average shares outstanding:\t\t\t\t\t\t\t\t\t\t\nShares of common stock\t279.40\t\t301.65\t\t282.63\t\t\t\t305.08\t\nDilutive potential shares of common stock\t0.09\t\t0.70\t\t\t\t\t\t0.65\t\nTotal weighted average shares outstanding assuming dilution\t279.49\t\t302.35\t\t282.63\t\t\t\t305.73\t\n", "q10k_tbl_3": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nNet income (loss)\t162\t39\t\t(1728)\t\t\t\t660\t\t\nOther comprehensive income (loss) after tax\t\t\t\t\t\t\t\t\t\t\nChanges in:\t\t\t\t\t\t\t\t\t\t\nNet unrealized gains (losses) on investments with an allowance for credit losses\t6\t\t\t\t(3)\t\t\t\t\t\nNet unrealized gains on other investments\t207\t\t41\t\t354\t\t\t\t1007\t\nTotal unrealized gains on investments\t213\t\t41\t\t351\t\t\t\t1007\t\nUnrealized gains (losses) on cash flow hedges\t1\t\t(4)\t\t(18)\t\t\t\t(16)\t\nPension and postretirement benefits\t7\t\t10\t\t27\t\t\t\t25\t\nForeign currency translation\t38\t\t(31)\t\t(17)\t\t\t\t(11)\t\nOther comprehensive income\t259\t\t16\t\t343\t\t\t\t1005\t\nComprehensive income (loss)\t421\t\t55\t\t(1385)\t\t\t\t1665\t\nAmounts attributable to noncontrolling interests\t(49)\t\t31\t\t363\t\t\t\t(53)\t\nTotal comprehensive income (loss) attributable to Loews Corporation\t372\t86\t\t(1022)\t\t\t\t1612\t\t\n", "q10k_tbl_4": "\t\tLoews Corporation Shareholders\t\t\t\t\t\t\t\t\t\t\n\tTotal\tCommon Stock\tAdditional Paid-in Capital\t\tRetained Earnings\t\tAccumulated Other Comprehensive Income (Loss)\t\tCommon Stock Held in Treasury\t\tNoncontrolling Interests\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\nBalance July 1 2019\t22394\t3\t3612\t\t16374\t\t3\t\t(478)\t\t2880\t\t\nNet income\t39\t\t\t\t\t72\t\t\t\t\t\t(33)\t\nOther comprehensive income\t16\t\t\t\t\t\t\t14\t\t\t\t2\t\nDividends paid ($0.0625 per share)\t(29)\t\t\t\t\t(19)\t\t\t\t\t\t(10)\t\nPurchases of Loews Corporation treasury stock\t(169)\t\t\t\t\t\t\t\t\t(169)\t\t\t\nPurchases of subsidiary stock from noncontrolling interests\t(2)\t\t\t\t\t\t\t\t\t\t\t(2)\t\nStock-based compensation\t9\t\t\t8\t\t\t\t\t\t\t\t1\t\nBalance September 30 2019\t22258\t3\t3620\t\t16427\t\t17\t\t(647)\t\t2838\t\t\nBalance July 1 2020\t18413\t3\t3371\t\t14316\t\t5\t\t(491)\t\t1209\t\t\nNet income\t162\t\t\t\t\t139\t\t\t\t\t\t23\t\nOther comprehensive income\t259\t\t\t\t\t\t\t233\t\t\t\t26\t\nDividends paid ($0.0625 per share)\t(27)\t\t\t\t\t(17)\t\t\t\t\t\t(10)\t\nPurchases of Loews Corporation treasury stock\t(195)\t\t\t\t\t\t\t\t\t(195)\t\t\t\nStock-based compensation\t8\t\t\t8\t\t\t\t\t\t\t\t\t\nOther\t0\t\t\t\t\t(1)\t\t\t\t1\t\t\t\nBalance September 30 2020\t18620\t3\t3379\t\t14437\t\t238\t\t(685)\t\t1248\t\t\n", "q10k_tbl_5": "\t\tLoews Corporation Shareholders\t\t\t\t\t\t\t\t\t\t\t\n\tTotal\tCommon Stock\t\tAdditional Paid-in Capital\t\tRetained Earnings\t\tAccumulated Other Comprehensive Income (Loss)\t\tCommon Stock Held in Treasury\t\tNoncontrolling Interests\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\nBalance January 1 2019\t21386\t3\t\t3627\t\t15773\t\t(880)\t\t(5)\t\t2868\t\t\nNet income\t660\t\t\t\t\t\t715\t\t\t\t\t\t(55)\t\nOther comprehensive income\t1005\t\t\t\t\t\t\t\t897\t\t\t\t108\t\nDividends paid ($0.1875 per share)\t(145)\t\t\t\t\t\t(57)\t\t\t\t\t\t(88)\t\nPurchases of Loews Corporation treasury stock\t(642)\t\t\t\t\t\t\t\t\t\t(642)\t\t\t\nPurchases of subsidiary stock from noncontrolling interests\t(18)\t\t\t\t\t\t\t\t\t\t\t\t(18)\t\nStock-based compensation\t17\t\t\t\t(5)\t\t\t\t\t\t\t\t22\t\nOther\t(5)\t\t\t\t(2)\t\t(4)\t\t\t\t\t\t1\t\nBalance September 30 2019\t22258\t3\t\t3620\t\t16427\t\t17\t\t(647)\t\t2838\t\t\nBalance December 31 2019 as reported\t21930\t3\t\t3374\t\t15823\t\t(68)\t\t(13)\t\t2811\t\t\nCumulative effect adjustment from change in accounting standards (Note 1)\t(5)\t\t\t\t\t\t(5)\t\t\t\t\t\t\t\nBalance January 1 2020 as adjusted\t21925\t\t3\t\t3374\t\t15818\t\t(68)\t\t(13)\t\t2811\t\nNet loss\t(1728)\t\t\t\t\t\t(1328)\t\t\t\t\t\t(400)\t\nOther comprehensive income\t343\t\t\t\t\t\t\t\t306\t\t\t\t37\t\nDividends paid ($0.1875 per share)\t(141)\t\t\t\t\t\t(53)\t\t\t\t\t\t(88)\t\nDeconsolidation of Diamond Offshore\t(1087)\t\t\t\t\t\t\t\t\t\t\t\t(1087)\t\nPurchases of Loews Corporation treasury stock\t(673)\t\t\t\t\t\t\t\t\t\t(673)\t\t\t\nPurchases of subsidiary stock from noncontrolling interests\t(37)\t\t\t\t5\t\t\t\t\t\t\t\t(42)\t\nStock-based compensation\t17\t\t\t\t(1)\t\t\t\t\t\t\t\t18\t\nOther\t1\t\t\t\t1\t\t\t\t\t\t1\t\t(1)\t\nBalance September 30 2020\t18620\t3\t\t3379\t\t14437\t\t238\t\t(685)\t\t1248\t\t\n", "q10k_tbl_6": "Nine Months Ended September 30\t2020\t2019\t\n(In millions)\t\t\t\nOperating Activities:\t\t\t\nNet income (loss)\t(1728)\t660\t\t\nAdjustments to reconcile net income (loss) to net cash provided (used) by operating activities net\t2503\t\t747\t\nChanges in operating assets and liabilities net:\t\t\t\t\nReceivables\t(273)\t\t179\t\nDeferred acquisition costs\t(36)\t\t(37)\t\nInsurance reserves\t1479\t\t337\t\nOther assets\t(411)\t\t(386)\t\nOther liabilities\t238\t\t315\t\nTrading securities\t(481)\t\t(544)\t\nNet cash flow provided by operating activities\t1291\t\t1271\t\nInvesting Activities:\t\t\t\t\nPurchases of fixed maturities\t(8466)\t\t(7053)\t\nProceeds from sales of fixed maturities\t5023\t\t4872\t\nProceeds from maturities of fixed maturities\t2706\t\t2116\t\nPurchases of limited partnership investments\t(144)\t\t(167)\t\nProceeds from sales of limited partnership investments\t305\t\t680\t\nPurchases of property plant and equipment\t(584)\t\t(743)\t\nAcquisitions\t0\t\t(257)\t\nDispositions\t47\t\t137\t\nDeconsolidation of Diamond Offshore\t(483)\t\t0\t\nChange in short term investments\t706\t\t26\t\nOther net\t(218)\t\t(95)\t\nNet cash flow used by investing activities\t(1108)\t\t(484)\t\nFinancing Activities:\t\t\t\t\nDividends paid\t(53)\t\t(57)\t\nDividends paid to noncontrolling interests\t(88)\t\t(88)\t\nPurchases of Loews Corporation treasury stock\t(678)\t\t(643)\t\nPurchases of subsidiary stock from noncontrolling interests\t(37)\t\t(18)\t\nPrincipal payments on debt\t(1157)\t\t(1796)\t\nIssuance of debt\t2393\t\t1870\t\nOther net\t(13)\t\t(15)\t\nNet cash flow provided (used) by financing activities\t367\t\t(747)\t\nEffect of foreign exchange rate on cash\t0\t\t(3)\t\nNet change in cash\t550\t\t37\t\nCash beginning of period\t336\t\t405\t\nCash end of period\t886\t442\t\t\n", "q10k_tbl_7": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nFixed maturity securities\t432\t452\t\t1300\t\t\t\t1362\t\t\nLimited partnership investments\t71\t\t16\t\t26\t\t\t\t140\t\nShort term investments\t2\t\t13\t\t11\t\t\t\t42\t\nEquity securities\t18\t\t16\t\t24\t\t\t\t62\t\nIncome from trading portfolio (a)\t22\t\t34\t\t\t\t\t\t144\t\nOther\t14\t\t13\t\t44\t\t\t\t39\t\nTotal investment income\t559\t\t544\t\t1405\t\t\t\t1789\t\nInvestment expenses\t(19)\t\t(19)\t\t(58)\t\t\t\t(56)\t\nNet investment income\t540\t525\t\t1347\t\t\t\t1733\t\t\n", "q10k_tbl_8": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nFixed maturity securities\t26\t3\t\t(32)\t\t\t\t(6)\t\t\nEquity securities\t25\t\t7\t\t(45)\t\t\t\t60\t\nDerivative instruments\t(2)\t\t(2)\t\t(7)\t\t\t\t(13)\t\nShort term investments and other\t(3)\t\t\t\t(17)\t\t\t\t\t\nDeconsolidation of Diamond Offshore (see Note 2)\t\t\t\t\t(1211)\t\t\t\t\t\nInvestment gains (losses) (a)\t46\t8\t\t(1312)\t\t\t\t41\t\t\n", "q10k_tbl_9": "Three months ended September 30 2020\tCorporate and Other Bonds\tAsset- backed\t\tTotal\t\n(In millions)\t\t\t\t\t\nAllowance for credit losses:\t\t\t\t\t\nBalance as of July 1 2020\t39\t12\t\t51\t\t\nAdditions to the allowance for credit losses:\t\t\t\t\t\t\nFor securities for which credit losses were not previously recorded\t4\t\t\t\t4\t\nFor available-for-sale securities accounted for as PCD assets\t1\t\t\t\t1\t\nReductions to the allowance for credit losses:\t\t\t\t\t\t\nSecurities sold during the period (realized)\t9\t\t\t\t9\t\nAdditional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period\t(1)\t\t1\t\t\t\nTotal allowance for credit losses\t34\t13\t\t47\t\t\n", "q10k_tbl_10": "Nine months ended September 30 2020\t\t\t\nAllowance for credit losses:\t\t\t\nBalance as of December 31 2019\t0\t0\t0\t\nAdditions to the allowance for credit losses:\t\t\t\t\nImpact of adopting ASC 326\t6\t\t6\t\nFor securities for which credit losses were not previously recorded\t62\t12\t74\t\nFor available-for-sale securities accounted for as PCD assets\t3\t\t3\t\nReductions to the allowance for credit losses:\t\t\t\t\nSecurities sold during the period (realized)\t15\t\t15\t\nIntent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis\t1\t\t1\t\nAdditional increases or (decrease) to the allowance for credit losses on securities that had an allowance recorded in a previous period\t(21)\t1\t(20)\t\nTotal allowance for credit losses\t34\t13\t47\t\n", "q10k_tbl_11": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nFixed maturity securities available-for-sale:\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t4\t12\t\t94\t\t\t\t24\t\t\nAsset-backed\t1\t\t2\t\t14\t\t\t\t10\t\nImpairment losses recognized in earnings\t5\t14\t\t108\t\t\t\t34\t\t\n", "q10k_tbl_12": "September 30 2020\tCost or Amortized Cost\tGross Unrealized Gains\t\tGross Unrealized Losses\t\tAllowance for Credit Losses (a)\t\tEstimated Fair Value\t\n(In millions)\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t20734\t3047\t\t89\t\t34\t\t23658\t\t\nStates municipalities and political subdivisions\t9459\t\t1766\t\t1\t\t\t\t11224\t\nAsset-backed:\t\t\t\t\t\t\t\t\t\t\nResidential mortgage-backed\t3796\t\t153\t\t1\t\t\t\t3948\t\nCommercial mortgage-backed\t2048\t\t85\t\t70\t\t13\t\t2050\t\nOther asset-backed\t2097\t\t76\t\t19\t\t\t\t2154\t\nTotal asset-backed\t7941\t\t314\t\t90\t\t13\t\t8152\t\nU.S. Treasury and obligations of government-sponsored enterprises\t347\t\t4\t\t1\t\t\t\t350\t\nForeign government\t481\t\t29\t\t\t\t\t\t510\t\nFixed maturities available-for-sale\t38962\t\t5160\t\t181\t\t47\t\t43894\t\nFixed maturities trading\t17\t\t6\t\t\t\t\t\t23\t\nTotal fixed maturity securities\t38979\t5166\t\t181\t\t47\t\t43917\t\t\n", "q10k_tbl_13": "December 31 2019\tCost or Amortized Cost\tGross Unrealized Gains\t\tGross Unrealized Losses\t\tEstimated Fair Value\t\tUnrealized OTTI Losses (Gains) (a)\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t19789\t2292\t\t32\t\t22049\t\t\t\nStates municipalities and political subdivisions\t9093\t\t1559\t\t\t\t10652\t\t\nAsset-backed:\t\t\t\t\t\t\t\t\t\nResidential mortgage-backed\t4387\t\t133\t\t1\t\t4519\t(17)\t\t\nCommercial mortgage-backed\t2265\t\t86\t\t5\t\t2346\t\t1\t\nOther asset-backed\t1925\t\t41\t\t4\t\t1962\t\t(3)\t\nTotal asset-backed\t8577\t\t260\t\t10\t\t8827\t\t(19)\t\nU.S. Treasury and obligations of government-sponsored enterprises\t146\t\t1\t\t2\t\t145\t\t\t\nForeign government\t491\t\t14\t\t1\t\t504\t\t\t\nRedeemable preferred stock\t10\t\t\t\t\t\t10\t\t\t\nFixed maturities available-for-sale\t38106\t\t4126\t\t45\t\t42187\t\t(19)\t\nFixed maturities trading\t51\t\t2\t\t\t\t53\t\t\t\nTotal fixed maturities\t38157\t4128\t\t45\t\t42240\t\t(19)\t\t\n", "q10k_tbl_14": "\tLess than 12 Months\t12 Months or Longer\t\t\t\tTotal\t\t\t\nSeptember 30 2020\tEstimated Fair Value\tGross Unrealized Losses\t\tEstimated Fair Value\t\tGross Unrealized Losses\t\tEstimated Fair Value\t\t\tGross Unrealized Losses\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t1579\t86\t\t56\t\t3\t\t1635\t\t\t\t89\t\t\nStates municipalities and political subdivisions\t154\t\t1\t\t\t\t\t\t154\t\t\t\t1\t\nAsset-backed:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nResidential mortgage-backed\t98\t\t1\t\t13\t\t\t\t111\t\t\t\t1\t\nCommercial mortgage-backed\t693\t\t69\t\t19\t\t1\t\t712\t\t\t\t70\t\nOther asset-backed\t432\t\t18\t\t13\t\t1\t\t445\t\t\t\t19\t\nTotal asset-backed\t1223\t\t88\t\t45\t\t2\t\t1268\t\t\t\t90\t\nU.S. Treasury and obligations of government-sponsored enterprises\t25\t\t1\t\t\t\t\t\t25\t\t\t\t1\t\nForeign government\t20\t\t\t\t\t\t\t\t20\t\t\t\t\t\nTotal fixed maturity securities\t3001\t176\t\t101\t\t5\t\t3102\t\t\t\t181\t\t\nDecember 31 2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t914\t21\t\t186\t\t11\t\t1100\t\t\t\t32\t\t\nStates municipalities and political subdivisions\t34\t\t\t\t\t\t\t\t34\t\t\t\t\t\nAsset-backed:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nResidential mortgage-backed\t249\t\t1\t\t30\t\t\t\t279\t\t\t\t1\t\nCommercial mortgage-backed\t381\t\t3\t\t20\t\t2\t\t401\t\t\t\t5\t\nOther asset-backed\t449\t\t3\t\t33\t\t1\t\t482\t\t\t\t4\t\nTotal asset-backed\t1079\t\t7\t\t83\t\t3\t\t1162\t\t\t\t10\t\nU.S. Treasury and obligations of government-sponsored enterprises\t62\t\t2\t\t2\t\t\t\t64\t\t\t\t2\t\nForeign government\t59\t\t1\t\t1\t\t\t\t60\t\t\t\t1\t\nTotal fixed maturity securities\t2148\t31\t\t272\t\t14\t\t2420\t\t\t\t45\t\t\n", "q10k_tbl_15": "\tSeptember 30 2020\tDecember 31 2019\t\t\t\n\tCost or Amortized Cost\tEstimated Fair Value\t\tCost or Amortized Cost\t\t\tEstimated Fair Value\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nDue in one year or less\t1372\t1392\t\t1334\t\t\t\t1356\t\t\nDue after one year through five years\t11955\t\t12625\t\t9746\t\t\t\t10186\t\nDue after five years through ten years\t13026\t\t14359\t\t14892\t\t\t\t15931\t\nDue after ten years\t12609\t\t15518\t\t12134\t\t\t\t14714\t\nTotal\t38962\t43894\t\t38106\t\t\t\t42187\t\t\n", "q10k_tbl_16": "\tMortgage Loans Amortized Cost Basis by Origination Year (a)\nAs of September 30 2020\t2020\t\t2019\t\t\t\t2018\t\t\t\t2017\t\t\t\t2016\t\t\t\tPrior\t\t\t\tTotal\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDSCR ≥1.6x\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLTV less than 55%\t75\t\t\t33\t\t\t\t19\t\t\t\t85\t\t\t\t33\t\t\t\t161\t\t\t\t406\t\t\nLTV 55% to 65%\t\t\t\t\t33\t\t\t\t29\t\t\t\t55\t\t\t\t12\t\t\t\t\t\t\t\t129\t\nLTV greater than 65%\t\t\t\t\t5\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t12\t\t\t\t17\t\nDSCR 1.2x - 1.6x\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLTV less than 55%\t\t\t\t\t31\t\t\t\t10\t\t\t\t13\t\t\t\t16\t\t\t\t79\t\t\t\t149\t\nLTV 55% to 65%\t20\t\t\t\t54\t\t\t\t32\t\t\t\t24\t\t\t\t\t\t\t\t\t\t\t\t130\t\nLTV greater than 65%\t48\t\t\t\t103\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t151\t\nDSCR ≤1.2x\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLTV less than 55%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLTV 55% to 65%\t\t\t\t\t14\t\t\t\t14\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t28\t\nLTV greater than 65%\t\t\t\t\t23\t\t\t\t\t\t\t\t45\t\t\t\t24\t\t\t\t7\t\t\t\t99\t\nTotal\t143\t\t\t296\t\t\t\t104\t\t\t\t222\t\t\t\t85\t\t\t\t259\t\t\t\t1109\t\t\n", "q10k_tbl_17": "\tSeptember 30 2020\tDecember 31 2019\t\t\t\t\t\n\tContractual/ Notional\tEstimated Fair Value\tContractual/ Notional\t\tEstimated Fair Value\t\t\t\t\n\tAmount\tAsset\t(Liability)\tAmount\t\tAsset\t\t\t(Liability)\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nWith hedge designation:\t\t\t\t\t\t\t\t\t\t\t\nInterest rate swaps\t675\t\t(28)\t\t715\t\t\t\t\t(8)\t\t\nWithout hedge designation:\t\t\t\t\t\t\t\t\t\t\t\t\nEquity Options - purchased\t\t\t\t\t57\t\t1\t\t\t\t\t\t\n- written\t\t\t\t\t100\t\t\t\t\t\t\t(1)\t\nInterest rate swaps\t80\t\t\t(3)\t\t\t\t\t\t\t\t\t\nEmbedded derivative on funds withheld liability\t193\t\t\t(16)\t182\t\t\t\t\t\t\t(7)\t\n", "q10k_tbl_18": "September 30 2020\tLevel 1\tLevel 2\t\tLevel 3\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\nCorporate bonds and other\t372\t23452\t\t694\t\t24518\t\t\nStates municipalities and political subdivisions\t\t\t11179\t\t45\t\t11224\t\nAsset-backed\t\t\t7917\t\t235\t\t8152\t\nFixed maturities available-for-sale\t372\t\t42548\t\t974\t\t43894\t\nFixed maturities trading\t\t\t15\t\t8\t\t23\t\nTotal fixed maturities\t372\t42563\t\t982\t\t43917\t\t\nEquity securities\t655\t674\t\t39\t\t1368\t\t\nShort term and other\t4379\t\t56\t\t\t\t4435\t\nPayable to brokers\t(40)\t\t(31)\t\t\t\t(71)\t\n", "q10k_tbl_19": "December 31 2019\tLevel 1\tLevel 2\t\tLevel 3\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\nCorporate bonds and other\t175\t22065\t\t468\t\t22708\t\t\nStates municipalities and political subdivisions\t\t\t10652\t\t\t\t10652\t\nAsset-backed\t\t\t8662\t\t165\t\t8827\t\nFixed maturities available-for-sale\t175\t\t41379\t\t633\t\t42187\t\nFixed maturities trading\t\t\t49\t\t4\t\t53\t\nTotal fixed maturities\t175\t41428\t\t637\t\t42240\t\t\nEquity securities\t629\t658\t\t19\t\t1306\t\t\nShort term and other\t3138\t\t1383\t\t\t\t4521\t\nReceivables\t\t\t2\t\t\t\t2\t\nPayable to brokers\t(18)\t\t(10)\t\t\t\t(28)\t\n", "q10k_tbl_20": "\t\tNet Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tUnrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and\t\tUnrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Level 3 Assets and\t\n2020\tBalance July 1\tIncluded in Net Income (Loss)\t\tIncluded in OCI\t\tPurchases\t\tSales\tSettlements\t\tTransfers into Level 3\t\tTransfers out of Level 3\t\tBalance September 30\t\tLiabilities Held at September 30\t\tLiabilities Held at September 30\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate bonds and other\t555\t\t\t5\t\t129\t\t\t(3)\t\t8\t\t\t\t694\t\t\t\t5\t\nStates municipalities and political subdivisions\t0\t\t\t\t\t45\t\t\t\t\t\t\t\t\t45\t\t\t\t\t\nAsset-backed\t222\t\t\t9\t\t20\t\t\t(14)\t\t\t\t(2)\t\t235\t\t\t\t8\t\nFixed maturities available-for-sale\t777\t0\t\t\t14\t\t194\t0\t\t(17)\t\t8\t\t(2)\t\t974\t0\t\t\t13\t\nFixed maturities trading\t4\t\t4\t\t\t\t\t\t\t\t\t\t\t\t\t8\t\t4\t\t\t\nTotal fixed maturities\t781\t4\t\t14\t\t194\t\t0\t(17)\t\t8\t\t(2)\t\t982\t\t4\t\t13\t\t\nEquity securities\t27\t\t\t\t\t12\t\t\t\t\t\t\t\t\t39\t\t\t\t\t\t\n", "q10k_tbl_21": "\t\tNet Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses)\t\t\t\t\t\t\t\t\t\t\t\t\tUnrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and\tUnrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Level 3 Assets and\t\n2019\tBalance July 1\tIncluded in Net Income (Loss)\tIncluded in OCI\t\tPurchases\t\tSales\tSettlements\t\tTransfers into Level 3\tTransfers out of Level 3\t\tBalance September 30\t\tLiabilities Held at September 30\tLiabilities Held at September 30\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate bonds and other\t338\t\t14\t\t79\t\t\t(3)\t\t\t\t\t428\t\t\t14\t\nAsset-backed\t193\t\t1\t\t22\t\t\t(4)\t\t\t(16)\t\t196\t\t\t2\t\nFixed maturities available-for-sale\t531\t0\t\t15\t\t101\t0\t\t(7)\t0\t\t(16)\t\t624\t0\t\t16\t\nFixed maturities trading\t4\t\t\t\t\t\t\t\t\t\t\t\t\t4\t\t\t\t\nTotal fixed maturities\t535\t0\t15\t\t101\t\t0\t(7)\t\t0\t(16)\t\t628\t\t0\t16\t\t\nEquity securities\t23\t\t\t\t\t\t\t\t\t\t\t\t23\t\t\t\t\t\n", "q10k_tbl_22": "\t\tNet Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tUnrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and\t\tUnrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Level 3 Assets and\t\n2020\tBalance January 1\tIncluded in Net Income (Loss)\t\tIncluded in OCI\t\tPurchases\t\tSales\t\tSettlements\t\tTransfers into Level 3\t\tTransfers out of Level 3\t\tBalance September 30\t\tLiabilities Held at September 30\t\tLiabilities Held at September 30\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate bonds and other\t468\t\t\t27\t\t200\t\t\t\t(9)\t\t8\t\t\t\t694\t\t\t\t29\t\nStates municipalities and political subdivisions\t0\t\t\t\t\t45\t\t\t\t\t\t\t\t\t\t45\t\t\t\t\t\nAsset-backed\t165\t\t\t18\t\t100\t\t(9)\t\t(22)\t\t\t\t(17)\t\t235\t\t\t\t19\t\nFixed maturities available-for-sale\t633\t0\t\t\t45\t\t345\t\t(9)\t\t(31)\t\t8\t\t(17)\t\t974\t0\t\t\t48\t\nFixed maturities trading\t4\t\t4\t\t\t\t\t\t\t\t\t\t\t\t\t\t8\t\t4\t\t\t\nTotal fixed maturities\t637\t4\t\t45\t\t345\t\t(9)\t\t(31)\t\t8\t\t(17)\t\t982\t\t4\t\t48\t\t\nEquity securities\t19\t(7)\t\t\t\t12\t\t\t\t\t\t15\t\t\t\t39\t\t(7)\t\t\t\t\n", "q10k_tbl_23": "\t\tNet Realized Investment Gains (Losses) and Net Change in Unrealized Investment Gains (Losses)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tUnrealized Gains (Losses) Recognized in Net Income (Loss) on Level 3 Assets and\t\tUnrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Level 3 Assets and\t\n2019\tBalance January 1\tIncluded in Net Income (Loss)\t\tIncluded in OCI\t\tPurchases\t\tSales\tSettlements\t\tTransfers into Level 3\t\tTransfers out of Level 3\t\tBalance September 30\t\tLiabilities Held at September 30\t\tLiabilities Held at September 30\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate bonds and other\t222\t\t\t34\t\t211\t\t\t(7)\t\t\t\t(32)\t\t428\t\t\t\t29\t\nAsset-backed\t197\t\t\t8\t\t42\t\t\t(12)\t\t45\t\t(84)\t\t196\t\t\t\t9\t\nFixed maturities available-for-sale\t419\t0\t\t\t42\t\t253\t0\t\t(19)\t\t45\t\t(116)\t\t624\t0\t\t\t38\t\nFixed maturities trading\t6\t\t(2)\t\t\t\t\t\t\t\t\t\t\t\t\t4\t\t(2)\t\t\t\nTotal fixed maturities\t425\t(2)\t\t42\t\t253\t\t0\t(19)\t\t45\t\t(116)\t\t628\t\t(2)\t\t38\t\t\nEquity securities\t19\t2\t\t\t\t2\t\t\t\t\t\t\t\t\t23\t\t2\t\t\t\t\n", "q10k_tbl_24": "September 30 2020\tEstimated Fair Value\tValuation Techniques\tUnobservable Inputs\tRange (Weighted Average)\n\t(In millions)\t\t\t\nFixed maturity securities\t888\tDiscounted cash flow\tCredit spread\t1% - 10% (3%)\nDecember 31 2019\t\t\t\t\nFixed maturity securities\t525\tDiscounted cash flow\tCredit spread\t1% - 6% (2%)\n", "q10k_tbl_25": "\tCarrying\tEstimated Fair Value\nSeptember 30 2020\tAmount\tLevel 1\tLevel 2\t\t\tLevel 3\t\t\t\tTotal\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\nAssets:\t\t\t\t\t\t\t\t\t\t\t\t\nOther invested assets primarily mortgage loans\t1088\t\t\t\t\t\t1159\t\t\t\t1159\t\t\nLiabilities:\t\t\t\t\t\t\t\t\t\t\t\t\t\nShort term debt\t32\t\t\t8\t\t\t\t\t25\t\t\t\t33\t\nLong term debt\t10343\t\t\t\t10641\t\t\t\t757\t\t\t\t11398\t\nDecember 31 2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAssets:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOther invested assets primarily mortgage loans\t994\t\t\t\t\t\t\t1025\t\t\t\t1025\t\t\nLiabilities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nShort term debt\t75\t\t\t9\t\t\t\t\t66\t\t\t\t75\t\nLong term debt\t11443\t\t\t\t10884\t\t\t\t626\t\t\t\t11510\t\n", "q10k_tbl_26": "Nine Months Ended September 30\t2020\t2019\t\n(In millions)\t\t\t\nReserves beginning of year:\t\t\t\nGross\t21720\t21984\t\t\nCeded\t3835\t\t4019\t\nNet reserves beginning of year\t17885\t\t17965\t\nNet incurred claim and claim adjustment expenses:\t\t\t\t\nProvision for insured events of current year\t4425\t\t3968\t\nIncrease (decrease) in provision for insured events of prior years\t(68)\t\t(65)\t\nAmortization of discount\t143\t\t143\t\nTotal net incurred (a)\t4500\t\t4046\t\nNet payments attributable to:\t\t\t\t\nCurrent year events\t(556)\t\t(599)\t\nPrior year events\t(3285)\t\t(3547)\t\nTotal net payments\t(3841)\t\t(4146)\t\nForeign currency translation adjustment and other\t39\t\t29\t\nNet reserves end of period\t18583\t\t17894\t\nCeded reserves end of period\t3951\t\t3702\t\nGross reserves end of period\t22534\t21596\t\t\n", "q10k_tbl_27": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nMedical professional liability\t25\t29\t\t35\t\t\t\t59\t\t\nOther professional liability and management liability\t\t\t(18)\t\t(6)\t\t\t\t(37)\t\nSurety\t(40)\t\t(43)\t\t(70)\t\t\t\t(83)\t\nCommercial auto\t9\t\t(16)\t\t33\t\t\t\t(24)\t\nGeneral liability\t15\t\t43\t\t65\t\t\t\t36\t\nWorkers' compensation\t(23)\t\t7\t\t(97)\t\t\t\t2\t\nProperty and other\t(1)\t\t14\t\t32\t\t\t\t18\t\nTotal pretax (favorable) unfavorable development\t(15)\t16\t\t(8)\t\t\t\t(29)\t\t\n", "q10k_tbl_28": "\tNet Unrealized Gains (Losses) on Investments with OTTI Losses\tNet Unrealized Gains (Losses) on Other Investments\t\tUnrealized Gains (Losses) on Cash Flow Hedges\t\tPension and Postretirement Benefits\t\tForeign Currency Translation\t\tTotal Accumulated Other Comprehensive Income (Loss)\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nBalance July 1 2019\t18\t917\t\t(7)\t\t(780)\t\t(145)\t\t3\t\t\nOther comprehensive income (loss) before reclassifications after tax of $0 $(11) $1 $0 and $0\t\t\t44\t\t(4)\t\t\t\t(31)\t\t9\t\nReclassification of (gains) losses from accumulated other comprehensive income after tax of $0 $0 $0 $(2) and $0\t\t\t(3)\t\t\t\t10\t\t\t\t7\t\nOther comprehensive income (loss)\t0\t\t41\t\t(4)\t\t10\t\t(31)\t\t16\t\nAmounts attributable to noncontrolling interests\t\t\t(5)\t\t\t\t\t\t3\t\t(2)\t\nBalance September 30 2019\t18\t953\t\t(11)\t\t(770)\t\t(173)\t\t17\t\t\n", "q10k_tbl_29": "\tNet Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses\tNet Unrealized Gains (Losses) on Other Investments\t\tUnrealized Gains (Losses) on Cash Flow Hedges\t\tPension and Postretirement Benefits\t\tForeign Currency Translation\t\tTotal Accumulated Other Comprehensive Income (Loss)\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nBalance July 1 2020\t(8)\t1050\t\t(25)\t\t(837)\t\t(175)\t\t5\t\t\nOther comprehensive income (loss) before reclassifications after tax of $0 $(63) $0 $0 and $0\t2\t\t231\t\t(2)\t\t(2)\t\t38\t\t267\t\nReclassification of (income) losses from accumulated other comprehensive income after tax of $(1) $7 $0 $(3) and $0\t4\t\t(24)\t\t3\t\t9\t\t\t\t(8)\t\nOther comprehensive income\t6\t\t207\t\t1\t\t7\t\t38\t\t259\t\nAmounts attributable to noncontrolling interests\t(1)\t\t(22)\t\t\t\t\t\t(3)\t\t(26)\t\nBalance September 30 2020\t(3)\t1235\t\t(24)\t\t(830)\t\t(140)\t\t238\t\t\n", "q10k_tbl_30": "\tNet Unrealized Gains (Losses) on Investments with OTTI Losses\tNet Unrealized Gains (Losses) on Other Investments\t\tUnrealized Gains (Losses) on Cash Flow Hedges\t\tPension and Postretirement Benefits\t\tForeign Currency Translation\t\tTotal Accumulated Other Comprehensive Income (Loss)\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nBalance January 1 2019\t14\t57\t\t5\t\t(793)\t\t(163)\t\t(880)\t\t\nOther comprehensive income (loss) before reclassifications after tax of $(2) $(265) $5 $0 and $0\t3\t\t999\t\t(16)\t\t(1)\t\t(11)\t\t974\t\nReclassification of losses from accumulated other comprehensive income after tax of $0 $(1) $0 $(7) and $0\t1\t\t4\t\t\t\t26\t\t\t\t31\t\nOther comprehensive income (loss)\t4\t\t1003\t\t(16)\t\t25\t\t(11)\t\t1005\t\nAmounts attributable to noncontrolling interests\t\t\t(107)\t\t\t\t(2)\t\t1\t\t(108)\t\nBalance September 30 2019\t18\t953\t\t(11)\t\t(770)\t\t(173)\t\t17\t\t\n", "q10k_tbl_31": "\tNet Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses\tNet Unrealized Gains (Losses) on Other Investments\t\tUnrealized Gains (Losses) on Cash Flow Hedges\t\tPension and Postretirement Benefits\t\tForeign Currency Translation\t\tTotal Accumulated Other Comprehensive Income (Loss)\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nBalance January 1 2020 (a)\t0\t918\t\t(6)\t\t(855)\t\t(125)\t\t(68)\t\t\nOther comprehensive income (loss) before reclassifications after tax of $13 $(97) $8 $0 and $0\t(48)\t\t374\t\t(22)\t\t(3)\t\t(17)\t\t284\t\nReclassification of (income) losses from accumulated other comprehensive income after tax of $(12) $5 $(1) $(8) and $0\t45\t\t(20)\t\t4\t\t30\t\t\t\t59\t\nOther comprehensive income (loss)\t(3)\t\t354\t\t(18)\t\t27\t\t(17)\t\t343\t\nAmounts attributable to noncontrolling interests\t\t\t(37)\t\t\t\t(2)\t\t2\t\t(37)\t\nBalance September 30 2020\t(3)\t1235\t\t(24)\t\t(830)\t\t(140)\t\t238\t\t\n", "q10k_tbl_32": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nNon-insurance warranty - CNA Financial\t317\t292\t\t926\t\t\t\t858\t\t\nTransportation and storage of natural gas and NGLs and other services - Boardwalk Pipelines\t280\t\t287\t\t898\t\t\t\t947\t\nLodging and related services - Loews Hotels & Co\t36\t\t147\t\t194\t\t\t\t512\t\nRigid plastic packaging and recycled resin - Corporate\t253\t\t252\t\t753\t\t\t\t689\t\nContract drilling - Diamond Offshore (a)\t\t\t254\t\t300\t\t\t\t704\t\nTotal revenues from contracts with customers\t569\t\t940\t\t2145\t\t\t\t2852\t\nOther revenues\t40\t\t20\t\t96\t\t\t\t54\t\nOperating revenues and other\t609\t960\t\t2241\t\t\t\t2906\t\t\n", "q10k_tbl_33": "\tPension Benefits\n\tThree Months Ended September 30\t\tNine Months Ended September 30\t\t\t\t\t\t\n\t2020\t\t2019\t\t\t\t2020\t\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\nService cost\t\t\t2\t\t\t\t2\t\t\t\t5\t\t\nInterest cost\t24\t\t\t\t29\t\t\t\t70\t\t\t\t88\t\nExpected return on plan assets\t(43)\t\t\t\t(39)\t\t\t\t(130)\t\t\t\t(119)\t\nAmortization of unrecognized net loss\t12\t\t\t\t10\t\t\t\t35\t\t\t\t33\t\nAmortization of unrecognized prior service cost\t\t\t\t\t\t\t\t\t1\t\t\t\t\t\nSettlement charge\t1\t\t\t\t1\t\t\t\t8\t\t\t\t3\t\nCurtailment gain\t\t\t\t\t(1)\t\t\t\t\t\t\t\t(1)\t\nNet periodic (benefit) cost\t(6)\t\t\t2\t\t\t\t(14)\t\t\t\t9\t\t\n", "q10k_tbl_34": "\tOther Postretirement Benefits\n\tThree Months Ended September 30\t\tNine Months Ended September 30\t\t\t\t\t\t\n\t2020\t\t2019\t\t\t\t2020\t\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\t\t\nInterest cost\t0\t\t\t1\t\t\t\t1\t\t\t\t2\t\t\nExpected return on plan assets\t\t\t\t\t\t\t\t\t(2)\t\t\t\t(2)\t\nAmortization of unrecognized net gain\t\t\t\t\t(1)\t\t\t\t\t\t\t\t(1)\t\nNet periodic benefit\t0\t\t\t0\t\t\t\t(1)\t\t\t\t(1)\t\t\n", "q10k_tbl_35": "September 30 2020\tCNA Financial\tBoardwalk Pipelines\tLoews Hotels & Co\tCorporate\tDiamond Offshore (a)\tTotal\n(In millions)\t\t\t\t\t\t\nTotal assets\t62728\t9666\t1685\t5385\t0\t79464\t\nDecember 31 2019\t\t\t\t\t\t\t\nTotal assets\t60583\t9248\t1728\t4850\t5834\t82243\t\n", "q10k_tbl_36": "Three Months Ended September 30 2020\tCNA Financial\tBoardwalk Pipelines\t\tLoews Hotels & Co\t\tCorporate\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nInsurance premiums\t1953\t\t\t\t\t\t\t1953\t\nNet investment income\t517\t\t\t\t\t23\t\t540\t\nInvestment gains\t46\t\t\t\t\t\t\t46\t\nNon-insurance warranty revenue\t317\t\t\t\t\t\t\t317\t\nOperating revenues and other\t7\t289\t\t60\t\t\t253\t\t609\t\nTotal\t2840\t\t289\t\t60\t\t276\t\t3465\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t1616\t\t\t\t\t\t\t\t1616\t\nAmortization of deferred acquisition costs\t360\t\t\t\t\t\t\t\t360\t\nNon-insurance warranty expense\t293\t\t\t\t\t\t\t\t293\t\nOperating expenses and other\t268\t\t219\t\t114\t\t275\t\t876\t\nInterest\t52\t\t44\t\t8\t\t33\t\t137\t\nTotal\t2589\t\t263\t\t122\t\t308\t\t3282\t\nIncome (loss) before income tax\t251\t\t26\t\t(62)\t\t(32)\t\t183\t\nIncome tax (expense) benefit\t(36)\t\t(6)\t\t15\t\t6\t\t(21)\t\nNet income (loss)\t215\t\t20\t\t(47)\t\t(26)\t\t162\t\nAmounts attributable to noncontrolling interests\t(23)\t\t\t\t\t\t\t\t(23)\t\nNet income (loss) attributable to Loews Corporation\t192\t20\t\t(47)\t\t(26)\t\t139\t\t\n", "q10k_tbl_37": "Three Months Ended September 30 2019\tCNA Financial\tBoardwalk Pipelines\t\tLoews Hotels & Co\t\tCorporate\t\tDiamond Offshore (a)\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\t\t\nInsurance premiums\t1890\t\t\t\t\t\t\t\t\t1890\t\nNet investment income\t487\t\t\t\t\t36\t\t2\t\t525\t\nInvestment gains\t8\t\t\t\t\t\t\t\t\t8\t\nNon-insurance warranty revenue\t292\t\t\t\t\t\t\t\t\t292\t\nOperating revenues and other\t9\t296\t\t156\t\t\t250\t\t249\t\t960\t\nTotal\t2686\t\t296\t\t156\t\t286\t\t251\t\t3675\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t1614\t\t\t\t\t\t\t\t\t\t1614\t\nAmortization of deferred acquisition costs\t345\t\t\t\t\t\t\t\t\t\t345\t\nNon-insurance warranty expense\t278\t\t\t\t\t\t\t\t\t\t278\t\nOperating expenses and other\t291\t\t212\t\t145\t\t264\t\t322\t\t1234\t\nInterest\t31\t\t45\t\t6\t\t31\t\t31\t\t144\t\nTotal\t2559\t\t257\t\t151\t\t295\t\t353\t\t3615\t\nIncome (loss) before income tax\t127\t\t39\t\t5\t\t(9)\t\t(102)\t\t60\t\nIncome tax (expense) benefit\t(20)\t\t(10)\t\t(2)\t\t1\t\t10\t\t(21)\t\nNet income (loss)\t107\t\t29\t\t3\t\t(8)\t\t(92)\t\t39\t\nAmounts attributable to noncontrolling interests\t(11)\t\t\t\t\t\t\t\t44\t\t33\t\nNet income (loss) attributable to Loews Corporation\t96\t29\t\t3\t\t(8)\t\t(48)\t\t72\t\t\n", "q10k_tbl_38": "Nine Months Ended September 30 2020\tCNA Financial\tBoardwalk Pipelines\t\tLoews Hotels & Co\t\tCorporate\t\tDiamond Offshore (a)\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\t\t\nInsurance premiums\t5672\t\t\t\t\t\t\t\t\t5672\t\nNet investment income (loss)\t1380\t\t\t\t\t(33)\t\t\t\t1347\t\nInvestment losses\t(101)\t\t\t\t\t(1211)\t\t\t\t(1312)\t\nNon-insurance warranty revenue\t926\t\t\t\t\t\t\t\t\t926\t\nOperating revenues and other\t20\t926\t\t236\t\t\t754\t305\t\t\t2241\t\nTotal\t7897\t\t926\t\t236\t\t(490)\t\t305\t\t8874\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t4683\t\t\t\t\t\t\t\t\t\t4683\t\nAmortization of deferred acquisition costs\t1046\t\t\t\t\t\t\t\t\t\t1046\t\nNon-insurance warranty expense\t859\t\t\t\t\t\t\t\t\t\t859\t\nOperating expenses and other\t851\t\t633\t\t404\t\t810\t\t1196\t\t3894\t\nInterest\t114\t\t127\t\t24\t\t96\t\t43\t\t404\t\nTotal\t7553\t\t760\t\t428\t\t906\t\t1239\t\t10886\t\nIncome (loss) before income tax\t344\t\t166\t\t(192)\t\t(1396)\t\t(934)\t\t(2012)\t\nIncome tax (expense) benefit\t(40)\t\t(43)\t\t48\t\t293\t\t26\t\t284\t\nNet income (loss)\t304\t\t123\t\t(144)\t\t(1103)\t\t(908)\t\t(1728)\t\nAmounts attributable to noncontrolling interests\t(32)\t\t\t\t\t\t\t\t432\t\t400\t\nNet income (loss) attributable to Loews Corporation\t272\t123\t\t(144)\t\t(1103)\t\t(476)\t\t(1328)\t\t\n", "q10k_tbl_39": "Nine Months Ended September 30 2019\tCNA Financial\tBoardwalk Pipelines\t\tLoews Hotels & Co\t\tCorporate\t\tDiamond Offshore (a)\t\tTotal\t\n(In millions)\t\t\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\t\t\nInsurance premiums\t5517\t\t\t\t\t\t\t\t\t5517\t\nNet investment income\t1573\t\t\t1\t\t153\t\t6\t\t1733\t\nInvestment gains\t41\t\t\t\t\t\t\t\t\t41\t\nNon-insurance warranty revenue\t858\t\t\t\t\t\t\t\t\t858\t\nOperating revenues and other\t22\t969\t\t\t521\t\t689\t\t705\t\t2906\t\nTotal\t8011\t\t969\t\t522\t\t842\t\t711\t\t11055\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t4323\t\t\t\t\t\t\t\t\t\t4323\t\nAmortization of deferred acquisition costs\t1025\t\t\t\t\t\t\t\t\t\t1025\t\nNon-insurance warranty expense\t801\t\t\t\t\t\t\t\t\t\t801\t\nOperating expenses and other\t854\t\t616\t\t464\t\t740\t\t940\t\t3614\t\nInterest\t120\t\t136\t\t16\t\t85\t\t92\t\t449\t\nTotal\t7123\t\t752\t\t480\t\t825\t\t1032\t\t10212\t\nIncome (loss) before income tax\t888\t\t217\t\t42\t\t17\t\t(321)\t\t843\t\nIncome tax (expense) benefit\t(161)\t\t(56)\t\t(14)\t\t(4)\t\t52\t\t(183)\t\nNet income (loss)\t727\t\t161\t\t28\t\t13\t\t(269)\t\t660\t\nAmounts attributable to noncontrolling interests\t(77)\t\t\t\t\t\t\t\t132\t\t55\t\nNet income (loss) attributable to Loews Corporation\t650\t161\t\t28\t\t13\t\t(137)\t\t715\t\t\n", "q10k_tbl_40": "\tPage No.\nOverview\t39\nResults of Operations\t40\nConsolidated Financial Results\t40\nCNA Financial\t41\nBoardwalk Pipelines\t51\nLoews Hotels & Co\t53\nCorporate\t54\nDiamond Offshore\t55\nLiquidity and Capital Resources\t56\nParent Company\t56\nSubsidiaries\t56\nInvestments\t57\nCritical Accounting Estimates\t61\nAccounting Standards Update\t61\nForward-Looking Statements\t61\n", "q10k_tbl_41": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions except per share data)\t\t\t\t\t\t\t\t\t\nCNA Financial\t192\t96\t\t272\t\t\t\t650\t\t\nBoardwalk Pipelines\t20\t\t29\t\t123\t\t\t\t161\t\nLoews Hotels & Co\t(47)\t\t3\t\t(144)\t\t\t\t28\t\nCorporate\t(26)\t\t(8)\t\t(1103)\t\t\t\t13\t\nDiamond Offshore (a)\t\t\t(48)\t\t(476)\t\t\t\t(137)\t\nNet income (loss) attributable to Loews Corporation\t139\t72\t\t(1328)\t\t\t\t715\t\t\nBasic and diluted net income (loss) per share\t0.50\t0.24\t\t(4.70)\t\t\t\t2.34\t\t\n", "q10k_tbl_42": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nInsurance premiums\t1953\t1890\t\t5672\t\t\t\t5517\t\t\nNet investment income\t517\t\t487\t\t1380\t\t\t\t1573\t\nInvestment gains (losses)\t46\t\t8\t\t(101)\t\t\t\t41\t\nNon-insurance warranty revenue\t317\t\t292\t\t926\t\t\t\t858\t\nOther revenues\t7\t\t9\t\t20\t\t\t\t22\t\nTotal\t2840\t\t2686\t\t7897\t\t\t\t8011\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nInsurance claims and policyholders' benefits\t1616\t\t1614\t\t4683\t\t\t\t4323\t\nAmortization of deferred acquisition costs\t360\t\t345\t\t1046\t\t\t\t1025\t\nNon-insurance warranty expense\t293\t\t278\t\t859\t\t\t\t801\t\nOther operating expenses\t268\t\t291\t\t851\t\t\t\t854\t\nInterest\t52\t\t31\t\t114\t\t\t\t120\t\nTotal\t2589\t\t2559\t\t7553\t\t\t\t7123\t\nIncome before income tax\t251\t\t127\t\t344\t\t\t\t888\t\nIncome tax expense\t(36)\t\t(20)\t\t(40)\t\t\t\t(161)\t\nNet income\t215\t\t107\t\t304\t\t\t\t727\t\nAmounts attributable to noncontrolling interests\t(23)\t\t(11)\t\t(32)\t\t\t\t(77)\t\nNet income attributable to Loews Corporation\t192\t96\t\t272\t\t\t\t650\t\t\n", "q10k_tbl_43": "Three Months Ended September 30 2020\tSpecialty\tCommercial\t\tInternational\t\tTotal\t\n(In millions except %)\t\t\t\t\t\t\t\nGross written premiums\t1855\t915\t\t238\t\t3008\t\t\nGross written premiums excluding third\t\t\t\t\t\t\t\t\nparty captives\t861\t\t915\t\t238\t\t2014\t\nNet written premiums\t795\t\t804\t\t222\t\t1821\t\nNet earned premiums\t734\t\t857\t\t236\t\t1827\t\nNet investment income\t126\t\t165\t\t15\t\t306\t\nCore income\t168\t\t52\t\t27\t\t247\t\nOther performance metrics:\t\t\t\t\t\t\t\t\nLoss ratio excluding catastrophes\t\t\t\t\t\t\t\t\nand development\t60.0%\t\t61.0%\t\t60.1%\t\t60.5%\t\nEffect of catastrophe impacts\t1.0\t\t17.0\t\t3.0\t\t8.7\t\nEffect of development-related items\t(2.0)\t\t0.6\t\t0.1\t\t(0.4)\t\nLoss ratio\t59.0%\t\t78.6%\t\t63.2%\t\t68.8%\t\nExpense ratio\t30.5\t\t32.3\t\t34.9\t\t31.8\t\nDividend ratio\t\t\t0.6\t\t\t\t0.3\t\nCombined ratio\t89.5%\t\t111.5%\t\t98.1%\t\t100.9%\t\nCombined ratio excluding catastrophes and development\t90.5%\t\t93.9%\t\t95.0%\t\t92.6%\t\nRate\t13%\t\t11%\t\t16%\t\t12%\t\nRenewal premium change\t12\t\t8\t\t14\t\t10\t\nRetention\t86\t\t81\t\t70\t\t82\t\nNew business\t104\t168\t\t58\t\t330\t\t\n", "q10k_tbl_44": "Three Months Ended September 30 2019\tSpecialty\tCommercial\t\tInternational\t\tTotal\t\nGross written premiums\t1766\t860\t\t226\t\t2852\t\t\nGross written premiums excluding third\t\t\t\t\t\t\t\t\nparty captives\t778\t\t852\t\t226\t\t1856\t\nNet written premiums\t732\t\t775\t\t201\t\t1708\t\nNet earned premiums\t712\t\t813\t\t236\t\t1761\t\nNet investment income\t121\t\t136\t\t17\t\t274\t\nCore income (loss)\t153\t\t97\t\t(9)\t\t241\t\nOther performance metrics:\t\t\t\t\t\t\t\t\nLoss ratio excluding catastrophes\t\t\t\t\t\t\t\t\nand development\t60.1%\t\t61.5%\t\t67.3%\t\t61.7%\t\nEffect of catastrophe impacts\t0.5\t\t3.0\t\t1.7\t\t1.8\t\nEffect of development-related items\t(2.8)\t\t4.8\t\t0.4\t\t1.2\t\nLoss ratio\t57.8%\t\t69.3%\t\t69.4%\t\t64.7%\t\nExpense ratio\t31.8\t\t31.7\t\t38.0\t\t32.5\t\nDividend ratio\t0.2\t\t0.6\t\t\t\t0.4\t\nCombined ratio\t89.8%\t\t101.6%\t\t107.4%\t\t97.6%\t\nCombined ratio excluding catastrophes and development\t92.1%\t\t93.8%\t\t105.3%\t\t94.6%\t\nRate\t6%\t\t4%\t\t10%\t\t6%\t\nRenewal premium change\t9\t\t5\t\t6\t\t7\t\nRetention\t87\t\t86\t\t74\t\t84\t\nNew business\t91\t173\t\t52\t\t316\t\t\n", "q10k_tbl_45": "Nine Months Ended September 30 2020\tSpecialty\tCommercial\t\tInternational\t\tTotal\t\n(In millions except %)\t\t\t\t\t\t\t\nGross written premiums\t5331\t3103\t\t822\t\t9256\t\t\nGross written premiums excluding third party captives\t2413\t\t3018\t\t822\t\t6253\t\nNet written premiums\t2231\t\t2703\t\t680\t\t5614\t\nNet earned premiums\t2124\t\t2470\t\t699\t\t5293\t\nNet investment income\t315\t\t389\t\t44\t\t748\t\nCore income\t354\t\t96\t\t15\t\t465\t\nOther performance metrics:\t\t\t\t\t\t\t\t\nLoss ratio excluding catastrophes\t\t\t\t\t\t\t\t\nand development\t59.8%\t\t60.4%\t\t60.1%\t\t60.1%\t\nEffect of catastrophe impacts\t5.7\t\t14.3\t\t8.9\t\t10.1\t\nEffect of development-related items\t(2.1)\t\t2.1\t\t(0.4)\t\t0.1\t\nLoss ratio\t63.4%\t\t76.8%\t\t68.6%\t\t70.3%\t\nExpense ratio\t31.5\t\t33.2\t\t35.6\t\t32.9\t\nDividend ratio\t0.1\t\t0.6\t\t\t\t0.3\t\nCombined ratio\t95.0%\t\t110.6%\t\t104.2%\t\t103.5%\t\nCombined ratio excluding catastrophes and development\t91.4%\t\t94.2%\t\t95.7%\t\t93.3%\t\nRate\t11%\t\t9%\t\t12%\t\t11%\t\nRenewal premium change\t11\t\t8\t\t11\t\t9\t\nRetention\t85\t\t84\t\t71\t\t82\t\nNew business\t275\t564\t\t187\t\t1026\t\t\n", "q10k_tbl_46": "Nine Months Ended September 30 2019\t\t\t\t\nGross written premiums\t5191\t2825\t837\t8853\t\nGross written premiums excluding third\t\t\t\t\t\nparty captives\t2263\t2742\t837\t5842\t\nNet written premiums\t2143\t2536\t709\t5388\t\nNet earned premiums\t2061\t2339\t729\t5129\t\nNet investment income\t410\t480\t47\t937\t\nCore income\t483\t356\t14\t853\t\nOther performance metrics:\t\t\t\t\t\nLoss ratio excluding catastrophes\t\t\t\t\t\nand development\t60.2%\t61.8%\t61.4%\t61.1%\t\nEffect of catastrophe impacts\t0.8\t4.3\t1.4\t2.5\t\nEffect of development-related items\t(2.9)\t1.5\t1.9\t(0.2)\t\nLoss ratio\t58.1%\t67.6%\t64.7%\t63.4%\t\nExpense ratio\t32.6\t32.7\t37.5\t33.3\t\nDividend ratio\t0.2\t0.6\t\t0.4\t\nCombined ratio\t90.9%\t100.9%\t102.2%\t97.1%\t\nCombined ratio excluding catastrophes and development\t93.0%\t95.1%\t98.9%\t94.8%\t\nRate\t4%\t3%\t7%\t4%\t\nRenewal premium change\t7\t5\t5\t6\t\nRetention\t88\t86\t70\t84\t\nNew business\t274\t522\t207\t1003\t\n", "q10k_tbl_47": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nNet earned premiums\t127\t130\t\t380\t\t\t\t390\t\t\nNet investment income\t211\t\t213\t\t632\t\t\t\t636\t\nCore loss\t(54)\t\t(139)\t\t(65)\t\t\t\t(139)\t\n", "q10k_tbl_48": "(In millions)\t\nLong term care active life reserve - change in estimated reserve margin\t\nSeptember 30 2019 estimated margin\t0\t\nChanges in underlying discount rate assumptions\t(609)\t\nChanges in underlying morbidity assumptions\t51\t\nChanges in underlying persistency assumptions\t152\t\nChanges in underlying premium rate action assumptions\t318\t\nChanges in underlying expense and other assumptions\t14\t\nSeptember 30 2020 Premium Deficiency\t(74)\t\n", "q10k_tbl_49": "September 30 2020\tEstimated Reduction to Pretax Income\n(In millions)\t\nHypothetical revisions\t\nMorbidity:\t\n2.5% increase in morbidity\t339\t\n5% increase in morbidity\t677\t\nPersistency:\t\t\n5% decrease in active life mortality and lapse\t254\t\n10% decrease in active life mortality and lapse\t469\t\nDiscount rates:\t\t\n25 basis point decline in new money interest rates\t175\t\n50 basis point decline in new money interest rates\t356\t\nPremium rate actions:\t\t\n25% decrease in anticipated future premium rate increases\t66\t\n50% decrease in anticipated future premium rate increases\t132\t\n", "q10k_tbl_50": "September 30 2020\tClaim and claim adjustment expenses\tFuture policy benefits\t\tTotal\t\n(In millions)\t\t\t\t\t\nLong term care\t2866\t9678\t\t12544\t\t\nStructured settlement annuities\t547\t\t\t\t547\t\nOther\t12\t\t\t\t12\t\nTotal\t3425\t\t9678\t\t13103\t\nShadow adjustments (a)\t204\t\t3035\t\t3239\t\nCeded reserves (b)\t137\t\t265\t\t402\t\nTotal gross reserves\t3766\t12978\t\t16744\t\t\n", "q10k_tbl_51": "December 31 2019\t\t\t\nLong term care\t2863\t9470\t12333\t\nStructured settlement annuities\t515\t\t515\t\nOther\t12\t\t12\t\nTotal\t3390\t9470\t12860\t\nShadow adjustments (a)\t167\t2615\t2782\t\nCeded reserves (b)\t159\t226\t385\t\nTotal gross reserves\t3716\t12311\t16027\t\n", "q10k_tbl_52": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nCore income (loss):\t\t\t\t\t\t\t\t\t\nProperty & Casualty Operations\t247\t241\t\t465\t\t\t\t853\t\t\nOther Insurance Operations\t(54)\t\t(139)\t\t(65)\t\t\t\t(139)\t\nTotal core income\t193\t\t102\t\t400\t\t\t\t714\t\nInvestment gains (losses)\t36\t\t6\t\t(81)\t\t\t\t30\t\nConsolidating adjustments including noncontrolling interests\t(37)\t\t(12)\t\t(47)\t\t\t\t(94)\t\nNet income attributable to Loews Corporation\t192\t96\t\t272\t\t\t\t650\t\t\n", "q10k_tbl_53": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nOperating revenues and other\t289\t296\t\t926\t\t\t\t969\t\t\nTotal\t289\t\t296\t\t926\t\t\t\t969\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nOperating and other\t219\t\t212\t\t633\t\t\t\t616\t\nInterest\t44\t\t45\t\t127\t\t\t\t136\t\nTotal\t263\t\t257\t\t760\t\t\t\t752\t\nIncome before income tax\t26\t\t39\t\t166\t\t\t\t217\t\nIncome tax expense\t(6)\t\t(10)\t\t(43)\t\t\t\t(56)\t\nNet income attributable to Loews Corporation\t20\t29\t\t123\t\t\t\t161\t\t\n", "q10k_tbl_54": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nOperating revenue\t22\t127\t\t140\t\t\t\t437\t\t\nGain on sale of assets\t24\t\t\t\t37\t\t\t\t\t\nRevenues related to reimbursable expenses\t14\t\t29\t\t59\t\t\t\t85\t\nTotal\t60\t\t156\t\t236\t\t\t\t522\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nOperating and other:\t\t\t\t\t\t\t\t\t\t\nOperating\t53\t\t113\t\t219\t\t\t\t372\t\nAsset impairments\t10\t\t\t\t30\t\t\t\t11\t\nReimbursable expenses\t14\t\t29\t\t59\t\t\t\t85\t\nDepreciation\t15\t\t14\t\t45\t\t\t\t45\t\nEquity (income) loss from joint ventures\t22\t\t(11)\t\t51\t\t\t\t(49)\t\nInterest\t8\t\t6\t\t24\t\t\t\t16\t\nTotal\t122\t\t151\t\t428\t\t\t\t480\t\nIncome (loss) before income tax\t(62)\t\t5\t\t(192)\t\t\t\t42\t\nIncome tax (expense) benefit\t15\t\t(2)\t\t48\t\t\t\t(14)\t\nNet income (loss) attributable to Loews Corporation\t(47)\t3\t\t(144)\t\t\t\t28\t\t\n", "q10k_tbl_55": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nRevenues:\t\t\t\t\t\t\t\t\t\nNet investment income (loss)\t23\t36\t\t(33)\t\t\t\t153\t\t\nInvestment loss\t\t\t\t\t(1211)\t\t\t\t\t\nOperating revenues and other\t253\t\t250\t\t754\t\t\t\t689\t\nTotal\t276\t\t286\t\t(490)\t\t\t\t842\t\nExpenses:\t\t\t\t\t\t\t\t\t\t\nOperating and other\t275\t\t264\t\t810\t\t\t\t740\t\nInterest\t33\t\t31\t\t96\t\t\t\t85\t\nTotal\t308\t\t295\t\t906\t\t\t\t825\t\nIncome (loss) before income tax\t(32)\t\t(9)\t\t(1396)\t\t\t\t17\t\nIncome tax (expense) benefit\t6\t\t1\t\t293\t\t\t\t(4)\t\nNet income (loss) attributable to Loews Corporation\t(26)\t(8)\t\t(1103)\t\t\t\t13\t\t\n", "q10k_tbl_56": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nFixed income securities:\t\t\t\t\t\t\t\t\t\nTaxable fixed income securities\t363\t383\t\t1094\t\t\t\t1151\t\t\nTax-exempt fixed income securities\t80\t\t79\t\t238\t\t\t\t241\t\nTotal fixed income securities\t443\t\t462\t\t1332\t\t\t\t1392\t\nLimited partnership investments\t64\t\t12\t\t38\t\t\t\t125\t\nCommon stock\t7\t\t6\t\t(8)\t\t\t\t32\t\nOther net of investment expense\t3\t\t7\t\t18\t\t\t\t24\t\nPretax net investment income\t517\t487\t\t1380\t\t\t\t1573\t\t\nFixed income securities after tax and noncontrolling interests\t326\t337\t\t977\t\t\t\t1018\t\t\nNet investment income after tax and noncontrolling interests\t377\t356\t\t1011\t\t\t\t1147\t\t\n", "q10k_tbl_57": "Effective income yield for the fixed income securities portfolio before tax\t4.5%\t4.8%\t4.6%\t4.8%\nEffective income yield for the fixed income securities portfolio after tax\t3.7%\t3.9%\t3.7%\t3.9%\nLimited partnership and common stock return\t4.1%\t0.9%\t1.7%\t7.7%\n", "q10k_tbl_58": "\tThree Months Ended September 30\tNine Months Ended September 30\t\t\t\n\t2020\t2019\t\t2020\t\t\t2019\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nInvestment gains (losses):\t\t\t\t\t\t\t\t\t\nFixed maturity securities:\t\t\t\t\t\t\t\t\t\nCorporate and other bonds\t14\t7\t\t(105)\t\t\t\t\t\nStates municipalities and political subdivisions\t6\t\t1\t\t39\t\t\t13\t\t\nAsset-backed\t6\t\t(5)\t\t34\t\t\t\t(19)\t\nTotal fixed maturity securities\t26\t\t3\t\t(32)\t\t\t\t(6)\t\nNon-redeemable preferred stock\t25\t\t7\t\t(45)\t\t\t\t60\t\nShort term and other\t(5)\t\t(2)\t\t(24)\t\t\t\t(13)\t\nTotal investment gains (losses)\t46\t\t8\t\t(101)\t\t\t\t41\t\nIncome tax (expense) benefit\t(10)\t\t(2)\t\t20\t\t\t\t(11)\t\nAmounts attributable to noncontrolling interests\t(3)\t\t(1)\t\t9\t\t\t\t(3)\t\nInvestment gains (losses) attributable to Loews Corporation\t33\t5\t\t(72)\t\t\t\t27\t\t\n", "q10k_tbl_59": "\tSeptember 30 2020\tDecember 31 2019\t\t\t\n\tEstimated Fair Value\tNet Unrealized Gains (Losses)\t\tEstimated Fair Value\t\t\tNet Unrealized Gains (Losses)\t\t\n(In millions)\t\t\t\t\t\t\t\t\t\nU.S. Government Government agencies and Government-sponsored enterprises\t4026\t127\t\t4136\t\t\t\t95\t\t\nAAA\t3623\t\t452\t\t3254\t\t\t\t349\t\nAA\t6773\t\t961\t\t6663\t\t\t\t801\t\nA\t9470\t\t1296\t\t9062\t\t\t\t1051\t\nBBB\t17488\t\t2105\t\t16839\t\t\t\t1684\t\nNon-investment grade\t2521\t\t38\t\t2253\t\t\t\t101\t\nTotal\t43901\t4979\t\t42207\t\t\t\t4081\t\t\n", "q10k_tbl_60": "September 30 2020\tEstimated Fair Value\tGross Unrealized Losses\t\n(In millions)\t\t\t\nU.S. Government Government agencies and Government-sponsored enterprises\t99\t1\t\t\nAAA\t37\t\t1\t\nAA\t244\t\t9\t\nA\t642\t\t21\t\nBBB\t1264\t\t71\t\nNon-investment grade\t816\t\t78\t\nTotal\t3102\t181\t\t\n", "q10k_tbl_61": "September 30 2020\tEstimated Fair Value\tGross Unrealized Losses\t\n(In millions)\t\t\t\nDue in one year or less\t142\t8\t\t\nDue after one year through five years\t819\t\t54\t\nDue after five years through ten years\t1479\t\t83\t\nDue after ten years\t662\t\t36\t\nTotal\t3102\t181\t\t\n", "q10k_tbl_62": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tEstimated Fair Value\tEffective Duration (Years)\tEstimated Fair Value\tEffective Duration (Years)\n(In millions of dollars)\t\t\t\t\nInvestments supporting Other Insurance Operations\t18700\t9.0\t18015\t8.9\nOther investments\t27408\t4.5\t26813\t4.1\nTotal\t46108\t6.3\t44828\t6.0\n", "q10k_tbl_63": "\tSeptember 30 2020\tDecember 31 2019\t\n(In millions)\t\t\t\nShort term investments:\t\t\t\nCommercial paper\t\t1181\t\nU.S. Treasury securities\t1247\t\t364\t\nOther\t215\t\t316\t\nTotal short term investments\t1462\t1861\t\t\n", "q10k_tbl_64": "Period\t(a) Total number of shares purchased\t(b) Average price paid per share\t\t(c) Total number of shares purchased as part of publicly announced plans or programs\t\t(d) Maximum number of shares (or approximate dollar value) of shares that may yet be purchased under the plans or programs (in millions)\t\nJuly 1 2020 -\t\t\t\t\t\t\t\nJuly 31 2020\t0\t\tN/A\t\tN/A\t\tN/A\t\nAugust 1 2020 -\t\t\t\t\t\t\t\t\nAugust 31 2020\t1250171\t36.56\t\t\tN/A\t\tN/A\t\nSeptember 1 2020 -\t\t\t\t\t\t\t\t\nSeptember 30 2020\t4154083\t\t35.82\t\tN/A\t\tN/A\t\n", "q10k_tbl_65": "Description of Exhibit\tExhibit Number\nCertification by the Chief Executive Officer of the Company pursuant to Rule 13a-14(a) and Rule 15d-14(a)\t31.1*\nCertification by the Chief Financial Officer of the Company pursuant to Rule 13a-14(a) and Rule 15d-14(a)\t31.2*\nCertification by the Chief Executive Officer of the Company pursuant to 18 U.S.C. Section 1350 (as adopted by Section 906 of the Sarbanes-Oxley Act of 2002)\t32.1*\nCertification by the Chief Financial Officer of the Company pursuant to 18 U.S.C. Section 1350 (as adopted by Section 906 of the Sarbanes-Oxley Act of 2002)\t32.2*\nXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document\t101.INS *\nInline XBRL Taxonomy Extension Schema\t101.SCH *\nInline XBRL Taxonomy Extension Calculation Linkbase\t101.CAL *\nInline XBRL Taxonomy Extension Definition Linkbase\t101.DEF *\nInline XBRL Taxonomy Label Linkbase\t101.LAB *\nInline XBRL Taxonomy Extension Presentation Linkbase\t101.PRE *\nCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\t104*\n"}{"bs": "q10k_tbl_1", "is": "q10k_tbl_2", "cf": "q10k_tbl_6"}None
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period From ____________ to _____________
Commission File Number 1-6541
LOEWS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
13-2646102
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
667 Madison Avenue, New York, NY10065-8087
(Address of principal executive offices) (Zip Code)
(212) 521-2000
(Registrant’s telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, par value $0.01 per share
L
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes☒
No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes☒
No ☐
Not Applicable ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer☒
Accelerated filer ☐
Non-accelerated filer ☐
Smaller reporting company ☐
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐
No ☒
As of October 23, 2020, there were 274,872,872 shares of the registrant’s common stock outstanding.