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Loews Corporation (L-0.14%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing includes financial statements and detailed information on the company's operations, including its subsidiaries CNA Financial Corporation, Boardwalk Pipeline Partners, LP, and Loews Hotels & Co.
CNA Financial reported net income attributable to Loews Corporation of $879 million for 2024, down from $1,094 million in 2023. This decrease was primarily due to a pension settlement charge and higher catastrophe losses.
Boardwalk Pipelines reported an increase in net income attributable to Loews Corporation to $413 million in 2024, compared to $283 million in 2023. The increase was driven by higher transportation revenues and contributions from recent acquisitions.
Loews Hotels & Co reported a decrease in net income attributable to Loews Corporation to $70 million in 2024, from $147 million in 2023. The decrease was due to higher depreciation and interest expenses related to new hotel openings and lower equity income from joint ventures.
The Corporate segment reported net income of $52 million in 2024, compared to a loss of $90 million in 2023. The improvement was primarily due to higher investment income.
Loews Corporation's total shareholders' equity increased to $17,066 million as of December 31, 2024, from $15,704 million as of December 31, 2023.
The filing also discusses the company's risk factors, including exposure to natural and man-made disasters, regulatory changes, and market conditions affecting its subsidiaries.
Loews Corporation continues to focus on its diversified operations, with investments in insurance, energy, and hospitality sectors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Loews Corporation annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.