Loews Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	43,351	41,061	40,425	37,627	44,373
Investments in Equity & Preferred Securities	5,031	4,521	4,220	3,973	4,341
Other Investments	7,239	5,719	5,519	5,978	5,951
Total Investments	56,254	52,067	50,365	47,648	54,672
Cash & Equivalents	495	541	399	532	621
Reinsurance Recoverable	6,381	6,051	5,412	5,416	5,463
Other Receivables	4,602	4,471	4,248	3,987	3,810
Deferred Policy Acquisition Cost	986	959	896	806	737
Property, Plant & Equipment	10,996	11,058	11,020	10,355	10,160
Goodwill	349	347	347	346	349
Other Intangible Assets	-	-	151	111	109
Long-Term Deferred Tax Assets	16	39	54	274	45
Long-Term Deferred Charges	3,220	3,525	3,661	3,671	3,476
Other Long-Term Assets	3,049	2,885	2,644	2,421	2,184
Total Assets	86,348	81,943	79,197	75,567	81,626
Accrued Expenses	53	110	79	133	90
Insurance & Annuity Liabilities	14,007	13,669	14,460	13,979	13,744
Unpaid Claims	26,599	24,976	23,304	22,120	24,174
Unearned Premiums	7,635	7,346	6,933	6,374	5,761
Current Portion of Long-Term Debt	1,051	4	1,083	853	93
Current Portion of Leases	56	1	1	1	-
Long-Term Debt	8,435	8,936	7,915	8,161	8,980
Long-Term Leases	322	409	388	401	369
Long-Term Deferred Tax Liabilities	839	550	398	243	1,079
Other Long-Term Liabilities	3,425	3,330	3,261	3,221	3,455
Total Liabilities	66,707	64,006	62,672	60,366	62,451
Common Stock	2	2	2	2	2
Additional Paid-In Capital	2,374	2,490	2,589	2,748	2,885
Retained Earnings	17,377	16,459	15,617	14,931	14,776
Treasury Stock	-	-18	-7	-12	-3
Comprehensive Income & Other	-1,067	-1,867	-2,497	-3,320	186
Total Common Equity	18,686	17,066	15,704	14,349	17,846
Minority Interest	955	871	821	852	1,329
Shareholders' Equity	19,641	17,937	16,525	15,201	19,175
Total Liabilities & Equity	86,348	81,943	79,197	75,567	81,626
Filing Date Shares Outstanding	206.05	212.86	222.2	235	248.2
Total Common Shares Outstanding	206	214.7	222.17	235.96	248.42
Total Debt	9,864	9,350	9,387	9,416	9,442
Net Cash (Debt)	-9,369	-8,809	-8,988	-8,884	-8,821
Net Cash Per Share	-44.81	-39.94	-39.45	-36.52	-33.90
Book Value Per Share	90.71	79.49	70.69	60.81	71.84
Tangible Book Value	18,337	16,719	15,206	13,892	17,388
Tangible Book Value Per Share	89.01	77.87	68.44	58.87	70.00
Machinery	13,514	13,297	12,891	12,329	12,050
Construction In Progress	357	247	764	513	340

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