v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Investments:    
Fixed maturity securities at fair value (amortized cost of $45,060 and $44,668, less allowance for credit loss of $75 and $69) $ 43,230 $ 43,402
Equity securities at fair value (cost of $764 and $728) 785 769
Limited partnership investments 2,823 2,772
Other invested assets 110 105
Mortgage loans (less allowance for credit loss of $15 and $15) 1,055 1,079
Short-term investments 1,499 2,320
Total investments 49,502 50,447
Cash 522 425
Reinsurance receivables (less allowance for uncollectible receivables of $32 and $27) 6,387 6,381
Insurance receivables (less allowance for uncollectible receivables of $25 and $25) 3,720 3,739
Accrued investment income 487 480
Deferred acquisition costs 1,008 986
Deferred income taxes 603 575
Property and equipment at cost (less accumulated depreciation of $354 and $346) 287 282
Goodwill 147 148
Deferred non-insurance warranty acquisition expense 3,098 3,220
Other assets 2,798 2,760
Total assets 68,559 69,443
Insurance reserves:    
Claim and claim adjustment expenses 26,933 26,599
Unearned premiums 7,646 7,635
Future policy benefits 13,195 13,448
Long-term debt 2,972 2,971
Deferred non-insurance warranty revenue 3,976 4,138
Other liabilities (includes $50 and $54 due to Loews Corporation) 2,980 3,031
Total liabilities 57,702 57,822
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; 270,528,685 and 270,671,747 shares outstanding) 683 683
Additional paid-in capital 2,195 2,229
Retained earnings 9,448 9,915
Accumulated other comprehensive loss (1,349) (1,098)
Treasury stock (2,511,558 and 2,368,496 shares), at cost (120) (108)
Total stockholders’ equity 10,857 11,621
Total liabilities and stockholders' equity $ 68,559 $ 69,443