XML 85 R69.htm IDEA: XBRL DOCUMENT v3.24.0.1
Summary of Significant Accounting Policies - Effects of Adoption of ASU 2018-12, Operations (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Insurance claims and policyholders’ benefits         $ 7,068 $ 6,653 $ 6,371
Income before income tax         1,996 1,114 2,160
Income tax expense         (451) (223) (475)
Net income         1,545 891 1,685
Amounts attributable to noncontrolling interests         (111) (69) (123)
Net income attributable to Loews Corporation $ 355 $ (22) $ 167 $ 322 $ 1,434 $ 822 $ 1,562
Basic net income per share (in dollars per share)         $ 6.30 $ 3.39 $ 6.02
Diluted net income per share (in dollars per share) $ 1.49 $ (0.09) $ 0.68 $ 1.29 $ 6.29 $ 3.38 $ 6.00
Re-measurement loss of insurance claims and policyholders’ benefits         $ (88) $ (214) $ (8)
Previously Reported              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Insurance claims and policyholders’ benefits           6,386 6,349
Income before income tax           1,381 2,182
Income tax expense           (278) (479)
Net income           1,103 1,703
Amounts attributable to noncontrolling interests           (91) (125)
Net income attributable to Loews Corporation $ 364 $ 130 $ 180 $ 338   $ 1,012 $ 1,578
Basic net income per share (in dollars per share)           $ 4.17 $ 6.08
Diluted net income per share (in dollars per share) $ 1.53 $ 0.54 $ 0.73 $ 1.36   $ 4.16 $ 6.07
Effect of Adoption              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Insurance claims and policyholders’ benefits           $ 267 $ 22
Income before income tax           (267) (22)
Income tax expense           55 4
Net income           (212) (18)
Amounts attributable to noncontrolling interests           22 2
Net income attributable to Loews Corporation $ (9) $ (152) $ (13) $ (16)   $ (190) $ (16)
Basic net income per share (in dollars per share)           $ (0.78) $ (0.06)
Diluted net income per share (in dollars per share) $ (0.04) $ (0.63) $ (0.05) $ (0.07)   $ (0.78) $ (0.07)