v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Investments:    
Fixed maturity securities at fair value (amortized cost of $43,991 and $43,481, less allowance for credit loss of $47 and $45) $ 41,973 $ 41,111
Equity securities at fair value (cost of $677 and $632) 695 659
Limited partnership investments 2,572 2,520
Other invested assets 96 85
Mortgage loans (less allowance for credit loss of $35 and $35) 1,049 1,019
Short-term investments 1,584 2,088
Total investments 47,969 47,482
Cash 483 472
Reinsurance receivables (less allowance for uncollectible receivables of $22 and $21) 6,266 6,051
Insurance receivables (less allowance for uncollectible receivables of $26 and $26) 3,703 3,671
Accrued investment income 465 451
Deferred acquisition costs 999 959
Deferred income taxes 779 850
Property and equipment at cost (less accumulated depreciation of $330 and $314) 291 295
Goodwill 146 145
Deferred non-insurance warranty acquisition expense 3,493 3,525
Other assets (includes $— and $— due from Loews Corporation) 2,732 2,591
Total assets 67,326 66,492
Insurance reserves:    
Claim and claim adjustment expenses 25,581 24,976
Unearned premiums 7,504 7,346
Future policy benefits 13,304 13,158
Short-term debt 500 0
Long-term debt 2,474 2,973
Deferred non-insurance warranty revenue 4,488 4,530
Other liabilities (includes $62 and $47 due to Loews Corporation) 3,196 2,996
Total liabilities 57,047 55,979
Commitments and contingencies (Notes C and G)  
Stockholders' Equity    
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,620,627 and 270,844,681 shares outstanding) 683 683
Additional paid-in capital 2,204 2,229
Retained earnings 9,287 9,686
Accumulated other comprehensive loss (1,785) (1,991)
Treasury stock (2,419,616 and 2,195,562 shares), at cost (110) (94)
Total stockholders’ equity 10,279 10,513
Total liabilities and stockholders' equity $ 67,326 $ 66,492