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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities:    
Net income (loss) $ (1,890) $ 621
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities, net 2,430 604
Changes in operating assets and liabilities, net:    
Receivables (574) (79)
Deferred acquisition costs (41) (47)
Insurance reserves 1,181 203
Other assets (280) (296)
Other liabilities (46) 73
Trading securities (340) (605)
Net cash flow provided by operating activities 440 474
Investing Activities:    
Purchases of fixed maturities (5,356) (4,896)
Proceeds from sales of fixed maturities 3,773 3,858
Proceeds from maturities of fixed maturities 1,622 1,374
Purchases of limited partnership investments (90) (139)
Proceeds from sales of limited partnership investments 259 559
Purchases of property, plant and equipment (440) (505)
Acquisitions   (256)
Dispositions 11 136
Deconsolidation of Diamond Offshore (483)  
Change in short term investments 526 6
Other, net (147) (93)
Net cash flow (used) provided by investing activities (325) 44
Financing Activities:    
Dividends paid (36) (38)
Dividends paid to noncontrolling interests (78) (78)
Purchases of Loews Corporation treasury stock (491) (478)
Purchases of subsidiary stock from noncontrolling interests (37) (16)
Principal payments on debt (465) (1,394)
Issuance of debt 1,342 1,534
Other, net (13) (15)
Net cash flow provided (used) by financing activities 222 (485)
Effect of foreign exchange rate on cash (5) 2
Net change in cash 332 35
Cash, beginning of period 336 405
Cash, end of period $ 668 $ 440