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Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
December 3120242023
(In millions)  
   
Loews Corporation (Parent Company):  
Senior:  
3.8% notes due 2026 (effective interest rate of 3.9%) (authorized, $500)
$500 $500 
3.2% notes due 2030 (effective interest rate of 3.3%) (authorized, $500)
500 500 
6.0% notes due 2035 (effective interest rate of 6.2%) (authorized, $300)
300 300 
4.1% notes due 2043 (effective interest rate of 4.3%) (authorized, $500)
500 500 
CNA Financial:
Senior:
4.0% notes due 2024 (effective interest rate of 4.0%) (authorized, $550)
550 
4.5% notes due 2026 (effective interest rate of 4.5%) (authorized, $500)
500 500 
3.5% notes due 2027 (effective interest rate of 3.5%) (authorized, $500)
500 500 
3.9% notes due 2029 (effective interest rate of 3.9%) (authorized, $500)
500 500 
2.1% notes due 2030 (effective interest rate of 2.1%) (authorized, $500)
500 500 
5.5% notes due 2033 (effective interest rate of 5.7%) (authorized, $500)
500 500 
5.1% notes due 2034 (effective interest rate of 5.3%) (authorized, $500)
500 
Boardwalk Pipelines:
Senior:
Variable rate revolving credit facility due 2028 (effective interest rate of 6.7%)
25 
5.0% notes due 2024 (effective interest rate of 5.2%) (authorized, $600)
600 
6.0% notes due 2026 (effective interest rate of 6.2%) (authorized, $550)
550 550 
4.5% notes due 2027 (effective interest rate of 4.6%) (authorized, $500)
500 500 
7.3% debentures due 2027 (effective interest rate of 8.1%) (authorized, $100)
100 100 
4.8% notes due 2029 (effective interest rate of 4.9%) (authorized, $500)
500 500 
3.4% notes due 2031 (effective interest rate of 3.5%) (authorized, $500)
500 500 
3.6% notes due 2032 (effective interest rate of 3.7%) (authorized, $500)
500 500 
5.6% notes due 2034 (effective interest rate of 5.8%) (authorized, $600)
600 
Finance lease obligation4 5 
Loews Hotels & Co:
Senior debt, principally mortgages (effective interest rates approximate 6.7% and 6.8%)
1,011 933 
 9,065 9,063 
Less unamortized discount and issuance costs70 60 
Less intercompany eliminations51 
Debt$8,944 $9,003 
December 31, 2024PrincipalUnamortized Discount and Issuance CostsNetShort Term DebtLong Term Debt
(In millions)     
      
Loews Corporation$1,800 $15 $1,785 $1,785 
CNA Financial3,000 27 2,973 2,973 
Boardwalk Pipelines3,254 19 3,235 $1 3,234 
Loews Hotels & Co1,011 9 1,002 4 998 
Less intercompany eliminations51 51 51 
Total$9,014 $70 $8,944 $5 $8,939 

At December 31, 2024, the aggregate long-term debt maturing in each of the next five years is approximately as follows: $5 million in 2025, $1.9 billion in 2026, $1.1 billion in 2027, $56 million in 2028, $1.2 billion in 2029 and $4.8 billion thereafter. Long-term debt is generally redeemable in whole or in part at the greater of the principal amount or the net present value of remaining scheduled payments discounted at the specified treasury rate plus a margin.

CNA is a member of the Federal Home Loan Bank of Chicago (“FHLBC”). FHLBC membership provides participants with access to additional sources of liquidity through various programs and services. As a requirement of membership in the FHLBC, CNA held $5 million of FHLBC stock as of December 31, 2024, giving it access to approximately $108 million of additional liquidity. As of December 31, 2024 and 2023, CNA had no outstanding borrowings from the FHLBC.

In 2023, CNA amended and restated its existing credit agreement with a syndicate of banks. The agreement provides a five-year $250 million senior unsecured revolving credit facility which is intended to be used for general corporate purposes. At CNA’s election, the commitments under the amended and restated credit agreement may be increased from time to time up to an additional aggregate amount of $100 million, and two one-year extensions are available prior to any anniversary of the closing date, each subject to applicable consents. As of December 31, 2024, CNA had no outstanding borrowings under the credit agreement and was in compliance with all covenants.

In 2024, CNA issued $500 million of 5.1% senior notes due February 15, 2034 and repaid at maturity the $550 million outstanding aggregate principal amount of its 4.0% senior notes.

Boardwalk Pipelines has a revolving credit facility with available borrowing capacity of $1 billion through May 27, 2027 and a borrowing capacity of $912 million from May 28, 2027 to May 26, 2028. Interest rates are based on the term Secured Overnight Financing Rate (“SOFR”). As of December 31, 2024, Boardwalk Pipelines had no outstanding borrowings under its revolving credit facility. As of December 31, 2024, Boardwalk Pipelines was in compliance with its covenants under the credit agreement.

In February of 2024, Boardwalk Pipelines completed a public offering of $600 million aggregate principal amount of its 5.6% senior notes due August 1, 2034. In December of 2024, Boardwalk Pipelines retired at maturity the $600 million outstanding aggregate principal amount of its 5.0% senior notes.

Loews Hotels & Co, through its subsidiaries, has debt with various lenders which is generally secured by specific hotel properties. These loans include a range of financial and operational covenants. As of December 31, 2024, Loews Hotels & Co’s subsidiaries were in compliance with their debt covenants.