| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||||||
Net income (loss) | ||||||||||||
871 | 706 | 1,412 | 716 | 287 | 962 | 1,069 | 1,110 | 1,694 | 1,988 | 1,383 | 5,293 | 3,100 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | ||||||||||||
Loss on sale of subsidiaries | ||||||||||||
- | - | - | - | - | -451 | - | - | - | - | - | - | - |
Investment (gains) losses | ||||||||||||
49 | -57 | 122 | 50 | -71 | 47 | -26 | -57 | 52 | -56 | 853 | -1,294 | -135 |
Income from discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | -20 | -2 | 4,713 | 901 |
Equity method investees | ||||||||||||
-20 | -572 | -25 | -221 | -182 | -64 | 380 | 103 | -74 | 184 | 220 | -451 | 107 |
Amortization of investments | ||||||||||||
89 | 70 | 40 | 27 | -17 | -3 | 24 | 50 | 64 | 118 | 199 | 299 | 266 |
Depreciation and amortization | ||||||||||||
943 | 912 | 874 | 841 | 955 | 899 | 871 | 905 | 833 | 816 | 784 | 692 | 471 |
Impairment of goodwill | ||||||||||||
- | - | - | - | 20 | - | 636 | - | - | - | - | 482 | 0 |
Asset impairments | ||||||||||||
99 | 44 | 106 | 697 | 865 | 228 | 325 | 742 | - | - | - | - | - |
Impairment of natural gas and oil properties | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 1,036 | 691 | 0 |
Provision for deferred income taxes | ||||||||||||
70 | 86 | -47 | 102 | -225 | 11 | 6 | -22 | 268 | 470 | 139 | -378 | 18 |
Other non-cash items | ||||||||||||
-87 | -72 | -164 | -73 | -105 | -134 | -49 | 7 | -52 | 53 | -39 | -41 | -1 |
Changes in operating assets and liabilities, net: | ||||||||||||
Receivables | ||||||||||||
-114 | 131 | -93 | -24 | -120 | -738 | -87 | - | - | - | - | 86 | -13 |
Receivables | ||||||||||||
- | - | - | - | - | - | - | -327 | -1,085 | 335 | -691 | -928 | -1,258 |
Federal income tax | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -308 | -18 |
Deferred acquisition costs | ||||||||||||
26 | 6 | 24 | 8 | -311 | -44 | -2 | 16 | 1 | -29 | -17 | -36 | -29 |
Insurance reserves | ||||||||||||
358 | 482 | 22 | 237 | 241 | -363 | -68 | 430 | -237 | -805 | -612 | -590 | -830 |
Other assets | ||||||||||||
356 | 102 | 95 | 71 | 43 | 128 | 20 | -74 | -181 | 83 | - | - | - |
Reinsurance balances payable | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -138 |
Other liabilities | ||||||||||||
193 | -102 | 114 | 26 | -33 | 123 | 470 | -73 | -326 | 132 | -130 | -216 | 241 |
Trading securities | ||||||||||||
494 | -1,702 | -108 | 528 | -674 | 129 | 901 | 406 | -354 | 1,778 | -760 | 84 | -1,797 |
Other, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -71 | -77 | 26 |
Net cash flow operating activities | ||||||||||||
- | - | - | - | 3,547 | 2,990 | 2,096 | 2,854 | - | 43 | 4,614 | 3,229 | 4,775 |
Net cash flow operating activities - discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | -90 | -23 | 142 | 896 |
Net cash flow provided by operating activities | ||||||||||||
1,741 | 4,222 | 2,590 | 2,253 | - | - | - | - | 3,965 | -47 | 4,591 | 3,371 | 5,671 |
Investing Activities: | ||||||||||||
Purchases of fixed maturities | ||||||||||||
8,661 | 10,785 | 9,065 | 9,827 | 8,675 | 9,381 | 11,197 | 10,299 | 12,168 | 16,715 | 24,189 | 48,404 | 73,157 |
Proceeds from sales of fixed maturities | ||||||||||||
5,842 | 8,408 | 5,438 | 5,332 | 4,390 | 4,914 | 6,869 | 6,123 | 7,591 | 12,514 | 19,245 | 41,749 | 69,012 |
Proceeds from maturities of fixed maturities | ||||||||||||
2,997 | 2,370 | 3,641 | 3,219 | 4,095 | 3,983 | 3,271 | 3,699 | 3,055 | 3,340 | 3,448 | 4,092 | 4,744 |
Purchases of equity securities | ||||||||||||
- | - | - | - | - | - | 77 | 54 | 72 | 99 | 269 | 210 | 236 |
Proceeds from sales of equity securities | ||||||||||||
- | - | - | - | - | - | 103 | 86 | 178 | 341 | 905 | 221 | 340 |
Purchases of limited partnership investments | ||||||||||||
198 | 420 | 171 | 355 | 188 | 271 | 323 | 372 | 303 | 663 | - | - | - |
Proceeds from sales of limited partnership investments | ||||||||||||
742 | 470 | 212 | 327 | 174 | 167 | 204 | 227 | 143 | 166 | - | - | - |
Purchases of property, plant and equipment | ||||||||||||
1,041 | 995 | 1,031 | 1,450 | 1,555 | 2,753 | 1,737 | 1,405 | 1,335 | 917 | 2,529 | 3,997 | 2,247 |
Acquisitions | ||||||||||||
257 | 37 | 1,218 | 79 | 157 | 448 | 235 | 987 | 548 | - | - | - | 4,029 |
Dispositions | ||||||||||||
140 | 113 | 79 | 330 | 33 | 1,031 | 182 | 221 | 222 | 805 | 85 | 87 | 37 |
Deposits for construction of offshore drilling equipment | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | - | - |
Change in collateral on loaned securities and derivatives | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -3,539 |
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is less than 12 months which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. | ||||||||||||
-57 | -339 | -167 | 158 | 120 | 1,396 | -101 | -192 | 1,461 | 1,892 | -1,620 | 2,942 | 2,151 |
Change in other investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 40 | -306 | - |
Other, net | ||||||||||||
178 | 229 | 373 | -158 | 172 | 108 | 257 | 142 | 127 | 76 | 2 | 11 | 214 |
Net cash flow investing activities | ||||||||||||
- | - | - | - | -1,935 | -1,470 | -3,298 | -3,095 | - | 588 | -4,886 | -3,837 | -7,138 |
Net cash flow investing activities - discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | 76 | 23 | 623 | 323 |
Net cash flow provided by investing activities | ||||||||||||
-671 | -1,444 | -2,655 | -2,187 | - | - | - | - | -1,903 | 664 | -4,863 | -3,214 | -6,815 |
Financing Activities: | ||||||||||||
Dividends paid | ||||||||||||
76 | 80 | 84 | 84 | 90 | 95 | 97 | 99 | 101 | 105 | 108 | 219 | 331 |
Dividends paid to noncontrolling interests | ||||||||||||
98 | 121 | 139 | 134 | 165 | 338 | 500 | 450 | 399 | 492 | 648 | 513 | 454 |
Purchase of Boardwalk Pipeline common units | ||||||||||||
- | 1,504 | - | - | - | - | - | - | - | - | - | - | - |
Purchases of Loews Corporation treasury stock | ||||||||||||
1,051 | 1,026 | 216 | 134 | 1,265 | 622 | 228 | 212 | 732 | 405 | 334 | 33 | 672 |
Purchases of subsidiary stock from noncontrolling interests | ||||||||||||
23 | - | - | - | 29 | 149 | - | - | 475 | - | 0 | - | - |
Purchases of subsidiary treasury shares | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 70 | 0 |
Issuance of Loews common stock | ||||||||||||
- | - | - | - | 7 | 6 | 5 | 13 | 4 | 8 | 8 | 4 | 8 |
Proceeds from sale of subsidiary stock | ||||||||||||
- | - | - | - | 114 | 5 | 370 | 849 | 172 | 344 | 180 | 247 | 535 |
Principal payments on debt | ||||||||||||
1,956 | 1,043 | 2,411 | 3,418 | 1,929 | 2,269 | 1,494 | 2,910 | 2,832 | 659 | 902 | 1,282 | 5 |
Issuance of debt | ||||||||||||
2,076 | 865 | 3,067 | 3,614 | 1,828 | 2,004 | 3,255 | 3,152 | 2,321 | 645 | 2,128 | 2,285 | 2,142 |
Receipts of investment contract account balances | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 3 |
Policyholders' investment contract net deposits (withdrawals) | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 605 | 122 |
Excess tax benefits from share-based payment arrangements | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 3 | 7 |
Other, net | ||||||||||||
-16 | 74 | -16 | -10 | 4 | 16 | -40 | -7 | -11 | -24 | -3 | 10 | 11 |
Net cash flow financing activities | ||||||||||||
- | - | - | - | -1,525 | -1,442 | 1,271 | 336 | - | -688 | 321 | -173 | 1,122 |
Net cash flow financing activities - discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 | - | 3 |
Net cash flow used by financing activities | ||||||||||||
-1,144 | -2,835 | 201 | -166 | - | - | - | - | -2,053 | -688 | 321 | -173 | 1,125 |
Effect of foreign exchange rate on cash | ||||||||||||
5 | -10 | 9 | -13 | -11 | -8 | -3 | 4 | - | 1 | 10 | -13 | 5 |
Net change in cash | ||||||||||||
-69 | -67 | 145 | -113 | 76 | 70 | 66 | 99 | 9 | -70 | 59 | -29 | -14 |
Net cash transactions from: | ||||||||||||
From continuing operations to discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | -14 | - | 785 | 1,259 |
To discontinued operations from continuing operations | ||||||||||||
- | - | - | - | - | - | - | - | - | 14 | - | -785 | 1,259 |