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Condensed Consolidated Statements of Cash Flows (USD $)
In Millions
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities    
Net income (loss) $ 364 $ 557
Adjustments to reconcile net income to net cash provided (used) by operating activities    
(Income) loss from discontinued operations 1 (1)
(Gain) loss on disposal of property and equipment 8 0
Deferred income tax expense (benefit) 98 82
Trading portfolio activity (9) 153
Net realized investment (gains) losses, net of participating policyholders’ interests (28) (63)
Equity method investees (108) 14
Amortization of investments (37) (59)
Depreciation 38 41
Changes in:    
Receivables, net 139 314
Accrued investment income (11) (9)
Deferred acquisition costs (27) 13
Insurance reserves 93 (437)
Other assets 37 40
Other liabilities (153) (52)
Other, net 9 2
Total adjustments 50 38
Net cash flows provided (used) by operating activities-continuing operations 414 595
Net cash flows provided (used) by operating activities-discontinued operations (2) (14)
Net cash flows provided (used) by operating activities-total 412 581
Cash Flows from Investing Activities    
Purchases of fixed maturity securities (6,200) (9,478)
Proceeds from Fixed Maturity Securities    
Sales 4,112 6,388
Maturities, calls and redemptions 1,825 1,866
Purchases of equity securities (44) (62)
Proceeds from sales of equity securities 153 128
Origination of mortgage loans (112) (14)
Change in short term investments 514 789
Change in other investments (131) (199)
Purchases of property and equipment (24) (23)
Dispositions 0 65
Other, net 2 3
Net cash flows provided (used) by investing activities-continuing operations 95 (537)
Net cash flows provided (used) by investing activities-discontinued operations 2 14
Net cash flows provided (used) by investing activities-total 97 (523)
Cash Flows from Financing Activities    
Acquisition of CNA Surety noncontrolling interest (426) 0
Dividends paid to common stockholders (54) 0
Dividends paid to Loews Corporation for 2008 Senior Preferred 0 (50)
Proceeds from the issuance of debt 396 0
Repayment of debt (409) (50)
Stock options exercised 2 1
Other, net (13) (25)
Net cash flows provided (used) by financing activities-continuing operations (504) (124)
Net cash flows provided (used) by financing activities-discontinued operations 0 0
Net cash flows provided (used) by financing activities-total (504) (124)
Effect of foreign exchange rate changes on cash-continuing operations 2 (2)
Net change in cash 7 (68)
Cash, beginning of year 77 140
Cash, end of period 84 72
Cash-continuing operations 84 72
Cash-discontinued operations 0 0
Cash $ 84 $ 72