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Segments (Details)
$ in Millions
3 Months Ended 6 Months Ended
Apr. 01, 2021
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
Subsidiaries
Segment
Jun. 30, 2020
USD ($)
Segments [Abstract]          
Number of reportable segments | Segment       4  
Number of individual operating subsidiaries | Subsidiaries       3  
Revenues [Abstract]          
Insurance premiums   $ 2,035 $ 1,850 $ 3,997 $ 3,719
Net investment income (loss)   616 644 1,166 807
Investment gains (losses) [1]   578 (1,142) 635 (1,358)
Non-insurance warranty revenue   359 308 697 609
Operating revenues and other   415 650 1,130 1,632
Total   4,003 2,310 7,625 5,409
Expenses [Abstract]          
Insurance claims and policyholders' benefits   1,546 1,642 3,052 3,067
Amortization of deferred acquisition costs   357 342 716 686
Non-insurance warranty expense   332 285 643 566
Operating expenses and other   656 992 1,570 3,018
Interest   100 123 225 267
Total   2,991 3,384 6,206 7,604
Income (loss) before income tax   1,012 (1,074) 1,419 (2,195)
Income tax (expense) benefit   (219) 228 (333) 305
Net income (loss)   793 (846) 1,086 (1,890)
Amounts attributable to noncontrolling interests   (39) 11 (71) 423
Net income (loss) attributable to Loews Corporation   754 (835) 1,015 (1,467)
Altium Packaging LLC [Member]          
Segments [Abstract]          
Percentage interest of subsidiary sold 47.00%        
Operating Segments [Member]          
Revenues [Abstract]          
Insurance premiums   2,035 1,850 3,997 3,719
Net investment income (loss)   616 644 1,166 807
Investment gains (losses)   578 (1,142) 635 (1,358)
Non-insurance warranty revenue   359 308 697 609
Operating revenues and other   415 650 1,130 1,632
Total   4,003 2,310 7,625 5,409
Expenses [Abstract]          
Insurance claims and policyholders' benefits   1,546 1,642 3,052 3,067
Amortization of deferred acquisition costs   357 342 716 686
Non-insurance warranty expense   332 285 643 566
Operating expenses and other   656 992 1,570 3,018
Interest   100 123 225 267
Total   2,991 3,384 6,206 7,604
Income (loss) before income tax   1,012 (1,074) 1,419 (2,195)
Income tax (expense) benefit   (219) 228 (333) 305
Net income (loss)   793 (846) 1,086 (1,890)
Amounts attributable to noncontrolling interests   (39) 11 (71) 423
Net income (loss) attributable to Loews Corporation   754 (835) 1,015 (1,467)
Operating Segments [Member] | CNA Financial [Member]          
Revenues [Abstract]          
Insurance premiums   2,035 1,850 3,997 3,719
Net investment income (loss)   591 534 1,095 863
Investment gains (losses)   38 69 95 (147)
Non-insurance warranty revenue   359 308 697 609
Operating revenues and other   6 5 11 13
Total   3,029 2,766 5,895 5,057
Expenses [Abstract]          
Insurance claims and policyholders' benefits   1,546 1,642 3,052 3,067
Amortization of deferred acquisition costs   357 342 716 686
Non-insurance warranty expense   332 285 643 566
Operating expenses and other   302 283 587 583
Interest   29 31 57 62
Total   2,566 2,583 5,055 4,964
Income (loss) before income tax   463 183 840 93
Income tax (expense) benefit   (94) (32) (160) (4)
Net income (loss)   369 151 680 89
Amounts attributable to noncontrolling interests   (39) (16) (71) (9)
Net income (loss) attributable to Loews Corporation   330 135 609 80
Operating Segments [Member] | Boardwalk Pipelines [Member]          
Revenues [Abstract]          
Operating revenues and other   312 296 684 637
Total   312 296 684 637
Expenses [Abstract]          
Operating expenses and other   209 210 426 421
Interest   40 41 81 83
Total   249 251 507 504
Income (loss) before income tax   63 45 177 133
Income tax (expense) benefit   (16) (11) (45) (34)
Net income (loss)   47 34 132 99
Net income (loss) attributable to Loews Corporation   47 34 132 99
Operating Segments [Member] | Loews Hotels & Co [Member]          
Revenues [Abstract]          
Net investment income (loss)   1   1 [2]  
Operating revenues and other   97 34 154 176
Total   98 34 155 176
Expenses [Abstract]          
Operating expenses and other   115 123 219 290
Interest   9 8 17 16
Total   124 131 236 306
Income (loss) before income tax   (26) (97) (81) (130)
Income tax (expense) benefit   5 25 17 33
Net income (loss)   (21) (72) (64) (97)
Net income (loss) attributable to Loews Corporation   (21) (72) (64) (97)
Operating Segments [Member] | Corporate [Member]          
Revenues [Abstract]          
Net investment income (loss)   24 110 [3] 70 [2] (56) [3]
Investment gains (losses)   540 (1,211) [3] 540 [2] (1,211) [3]
Operating revenues and other     244 [3] 281 [2] 501 [3]
Total   564 (857) [3] 891 [2] (766) [3]
Expenses [Abstract]          
Operating expenses and other   30 260 [3] 338 [2] 528 [3]
Interest   22 32 [3] 70 [2] 63 [3]
Total   52 292 [3] 408 [2] 591 [3]
Income (loss) before income tax   512 (1,149) [3] 483 [2] (1,357) [3]
Income tax (expense) benefit   (114) 241 [3] (145) [2] 284 [3]
Net income (loss)   398 (908) [3] 338 [2] (1,073) [3]
Net income (loss) attributable to Loews Corporation   $ 398 (908) [3] $ 338 [2] (1,073) [3]
Operating Segments [Member] | Diamond Offshore [Member]          
Revenues [Abstract]          
Operating revenues and other [4]     71   305
Total [4]     71   305
Expenses [Abstract]          
Operating expenses and other [4]     116   1,196
Interest [4]     11   43
Total [4]     127   1,239
Income (loss) before income tax [4]     (56)   (934)
Income tax (expense) benefit [4]     5   26
Net income (loss) [4]     (51)   (908)
Amounts attributable to noncontrolling interests [4]     27   432
Net income (loss) attributable to Loews Corporation [4]     $ (24)   $ (476)
[1] Gross investment gains on available-for-sale securities were $51 and $102 for the three months ended June 30, 2021 and 2020 and $109 and $131 for the six months ended June 30, 2021 and 2020. Gross investment losses on available-for-sale securities were $20 and $85 for the three months ended June 30, 2021 and 2020 and $40 and $189 for the six months ended June 30, 2021 and 2020. During the three and six months ended June 30, 2021, $15 of investment gains were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2021. During the three and six months ended June 30, 2020, $63 of investment gains and $70 of investment losses were recognized due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2020.
[2] Amounts presented for Corporate include the operating results of Altium Packaging through March 31, 2021. Beginning April 1, 2021, Altium Packaging is recorded as an equity method investment.
[3] Amounts presented for Corporate include the operating results of Altium Packaging prior to the deconsolidation.
[4] Amounts presented for Diamond Offshore reflect the periods prior to the deconsolidation.