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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net income $ 1,344 $ 1,305
Adjustments to reconcile net income to net cash provided by operating activities, net 571 425
Changes in operating assets and liabilities, net:    
Receivables (343) (390)
Deferred acquisition costs (16) (45)
Insurance reserves 1,522 1,559
Other assets (14) (126)
Other liabilities (234) 54
Trading securities (168) (698)
Net cash flow provided by operating activities 2,662 2,084
Investing Activities:    
Purchases of fixed maturities (6,052) (4,965)
Proceeds from sales of fixed maturities 2,432 2,335
Proceeds from maturities of fixed maturities 2,567 1,755
Purchases of equity securities (429) (332)
Proceeds from sales of equity securities 396 388
Purchases of limited partnership investments (340) (235)
Proceeds from sales of limited partnership investments 89 46
Purchases of property, plant and equipment (388) (458)
Dispositions 1 23
Change in short-term investments (448) (583)
Other, net (45) 10
Net cash flow used by investing activities (2,217) (2,016)
Financing Activities:    
Dividends paid (39) (42)
Dividends paid to noncontrolling interests (76) (75)
Purchases of Loews Corporation treasury stock (706) (262)
Purchases of subsidiary stock from noncontrolling interests (34) (20)
Principal payments on debt (4) (763)
Issuance of debt 494 1,284
Other, net (69) (44)
Net cash flow provided by (used by) financing activities (434) 78
Effect of foreign exchange rate on cash 15 3
Net change in cash 26 149
Cash, beginning of period 541 399
Cash, end of period $ 567 $ 548