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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net income (loss) $ 1,086 $ (1,890)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities, net (187) 2,430
Changes in operating assets and liabilities, net:    
Receivables (1,087) (574)
Deferred acquisition costs (12) (41)
Insurance reserves 1,373 1,181
Other assets (720) (280)
Other liabilities 598 (46)
Trading securities (508) (340)
Net cash flow provided by operating activities 543 440
Investing Activities:    
Purchases of fixed maturities (4,615) (5,356)
Proceeds from sales of fixed maturities 1,846 3,773
Proceeds from maturities of fixed maturities 2,104 1,622
Purchases of equity securities (181) (312)
Proceeds from sales of equity securities 193 230
Purchases of limited partnership investments (169) (90)
Proceeds from sales of limited partnership investments 185 259
Purchases of property, plant and equipment (183) (440)
Dispositions 52 11
Sale of interest in Altium Packaging 417  
Deconsolidation of Diamond Offshore   (483)
Change in short term investments 405 526
Other, net 39 (65)
Net cash flow provided (used) by investing activities 93 (325)
Financing Activities:    
Dividends paid (33) (36)
Dividends paid to noncontrolling interests (43) (78)
Purchases of Loews Corporation treasury stock (484) (491)
Purchases of subsidiary stock from noncontrolling interests (18) (37)
Principal payments on debt (1,146) (465)
Issuance of debt 1,199 1,342
Other, net (12) (13)
Net cash flow (used) provided by financing activities (537) 222
Effect of foreign exchange rate on cash 1 (5)
Net change in cash 100 332
Cash, beginning of period 478 336
Cash, end of period $ 578 $ 668