Loews Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1,452	1,414	1,434	822	1,562	-931
Depreciation & Amortization	601	583	538	512	515	734
Gain (Loss) on Sale of Investments	-119	-119	-138	70	-741	1,179
Change in Accounts Receivable	-882	-929	-268	-316	-1,409	-425
Change in Insurance Reserves / Liabilities	2,328	2,365	1,667	2,058	2,485	1,681
Change in Other Net Operating Assets	232	408	-183	-254	-49	-257
Other Operating Activities	262	133	347	106	413	-534
Operating Cash Flow	3,603	3,025	3,907	3,314	2,623	1,745
Operating Cash Flow Growth	40.69%	-22.57%	17.89%	26.34%	50.31%	0.23%
Capital Expenditures	-562	-632	-686	-660	-482	-710
Sale of Property, Plant & Equipment	1	23	-	16	80	65
Cash Acquisitions	-	-	-401	-	-	-58
Investment in Securities	-1,546	-1,352	-1,480	-1,532	-1,289	-101
Other Investing Activities	-69	-14	-178	-171	87	-127
Investing Cash Flow	-2,176	-1,975	-2,745	-2,347	-1,187	-1,414
Long-Term Debt Issued	-	1,294	778	573	1,199	2,659
Total Debt Repaid	-607	-1,366	-878	-640	-1,193	-1,726
Net Debt Issued (Repaid)	-103	-72	-100	-67	6	933
Repurchases of Common Stock	-1,052	-608	-849	-729	-1,136	-923
Common Dividends Paid	-52	-55	-57	-61	-65	-70
Other Financing Activities	-203	-163	-294	-180	-94	-138
Financing Cash Flow	-1,410	-898	-1,300	-1,037	-1,289	-198
Foreign Exchange Rate Adjustments	2	-10	5	-19	-4	9
Net Cash Flow	19	142	-133	-89	143	142
Free Cash Flow	3,041	2,393	3,221	2,654	2,141	1,035
Free Cash Flow Growth	61.76%	-25.71%	21.36%	23.96%	106.86%	47.86%
Free Cash Flow Margin	16.65%	13.67%	20.26%	18.90%	14.61%	8.22%
Free Cash Flow Per Share	14.35	10.85	14.14	10.91	8.23	3.69
Cash Interest Paid	422	422	385	380	391	463
Cash Income Tax Paid	403	403	304	376	256	20
Levered Free Cash Flow	2,510	1,604	2,827	-1,074	1,917	1,007
Unlevered Free Cash Flow	2,781	1,880	3,062	-837.75	2,182	1,329
Change in Working Capital	1,473	1,080	1,708	1,568	948	385

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.