Segments (Tables)

12 Months Ended

Dec. 31, 2020

Statements of Operations and Total assets by segment are presented in the following tables.

	CNA			Boardwalk			Loews						Diamond
Year Ended December 31, 2020	Financial			Pipelines			Hotels & Co			Corporate			Offshore (a)			Total
(In millions)

Revenues:

Insurance premiums	$	7,649														$	7,649
Net investment income		1,935					$	1		$	59						1,995
Investment losses		(35	)								(1,211	)					(1,246	)
Non-insurance warranty revenue		1,252															1,252
Operating revenues and other		26		$	1,302			277			1,023		$	305			2,933
Total		10,827			1,302			278			(129	)		305			12,583

Expenses:

Insurance claims and policyholders’ benefits		6,170															6,170
Amortization of deferred acquisition costs		1,410															1,410
Non-insurance warranty expense		1,159															1,159
Operating expenses and other		1,125			855			519			1,098			1,196			4,793
Interest		142			170			33			127			43			515
Total		10,006			1,025			552			1,225			1,239			14,047
Income (loss) before income tax		821			277			(274	)		(1,354	)		(934	)		(1,464	)
Income tax (expense) benefit		(131	)		(71	)		62			287			26			173
Net income (loss)		690			206			(212	)		(1,067	)		(908	)		(1,291	)
Amounts attributable to noncontrolling interests		(72	)											432			360
Net income (loss) attributable to Loews Corporation	$	618		$	206		$	(212	)	$	(1,067	)	$	(476	)	$	(931	)

	CNA			Boardwalk			Loews						Diamond
Year Ended December 31, 2019	Financial			Pipelines			Hotels & Co			Corporate			Offshore (a)			Total
(In millions)

Revenues:

Insurance premiums	$	7,428														$	7,428
Net investment income		2,118					$	1		$	230		$	6			2,355
Investment gains		49															49
Non-insurance warranty revenue		1,161															1,161
Operating revenues and other		32		$	1,300			691			933			982			3,938
Total		10,788			1,300			692			1,163			988			14,931

Expenses:

Insurance claims and policyholders’ benefits		5,806															5,806
Amortization of deferred acquisition costs		1,383															1,383
Non-insurance warranty expense		1,082															1,082
Operating expenses and other		1,141			840			698			1,004			1,267			4,950
Interest		152			179			22			115			123			591
Total		9,564			1,019			720			1,119			1,390			13,812
Income (loss) before income tax		1,224			281			(28	)		44			(402	)		1,119
Income tax (expense) benefit		(224	)		(72	)		(3	)		(9	)		60			(248	)
Net income (loss)		1,000			209			(31	)		35			(342	)		871
Amounts attributable to noncontrolling interests		(106	)											167			61
Net income (loss) attributable to Loews Corporation	$	894		$	209		$	(31	)	$	35		$	(175	)	$	932

	CNA			Boardwalk			Loews						Diamond
Year Ended December 31, 2018	Financial			Pipelines			Hotels & Co			Corporate			Offshore (a)			Total
(In millions)

Revenues:

Insurance premiums	$	7,312														$	7,312
Net investment income (loss)		1,817					$	2		$	(10	)	$	8			1,817
Investment losses		(57	)														(57	)
Non-insurance warranty revenue		1,007															1,007
Operating revenues and other		55		$	1,227			753			867			1,085			3,987
Total		10,134			1,227			755			857			1,093			14,066

Expenses:

Insurance claims and policyholders’ benefits		5,572															5,572
Amortization of deferred acquisition costs		1,335															1,335
Non-insurance warranty expense		923															923
Operating expenses and other		1,203			820			653			956			1,196			4,828
Interest		138			176			29			108			123			574
Total		9,171			996			682			1,064			1,319			13,232
Income (loss) before income tax		963			231			73			(207	)		(226	)		834
Income tax (expense) benefit		(151	)		(28	)		(25	)		46			30			(128	)
Net income (loss)		812			203			48			(161	)		(196	)		706
Amounts attributable to noncontrolling interests		(86	)		(68	)								84			(70	)
Net income (loss) attributable to Loews Corporation	$	726		$	135		$	48		$	(161	)	$	(112	)	$	636

(a)	Amounts presented for Diamond Offshore reflect the periods prior to the deconsolidation.