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Loews Cash Flow Statement

Operating, investing, and financing cash movements

Loews generated $2.6B in operating cash flow over the trailing twelve months. After $685.0M in capital expenditures, free cash flow was $1.9B. Free cash flow decreased 0.4% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.6BNet Cash From Investing (TTM)-$1.6BNet Cash From Financing (TTM)$211.0MCapital Expenditures (TTM)$685.0MDepreciation And Amortization Cf (TTM)$610.0MNet Change In Cash (TTM)$283.0M
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$22.1B
P/E Ratio13.52
ROE9.1%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$174M$98M$134M$156M$191M$204M
Payment for (Proceeds from) Other Investing Activity—$45M—$11M$37M-$35M
Payments for (Proceeds from) Short-Term Investments—-$330M$167M$611M$472M-$1.6B
Payments to Acquire Equity Securities, FV-NI$112M$124M$172M$133M$164M$174M
Payments to Acquire Limited Partnership Interests$100M$78M$202M$60M$107M$83M
Proceeds from Limited Partnership Investments$52M$25M$26M$38M$14M$33M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$641M$814M$799M$954M$790M$813M
Sale of investments$458M$643M$854M$935M$514M$364M
Proceeds from disposal of certain strategic investments$135M$104M$157M$135M$109M$136M
Net cash from investing activities$0-$204M-$809M-$1.2B-$611M$994M
Other investing activities—$45M—$11M$37M-$35M
Proceeds from maturities/sales of investments$458M$643M$854M$935M$514M$364M
Purchases of investments$1.4B$1.8B$2B$2.3B$1.1B$1.5B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts receivable$539M$246M$427M—$65M-$1M
Change in deferred policy acquisition costs$24M$37M$12M—$1M$24M
Change in other assets-$543M$92M$54M-$132M-$237M-$83M
Change in other liabilities-$63M$27M-$19M-$242M-$40M-$406M
Deferred income taxes-$11.3M$28M$28M$28M$28M—
Depreciation and amortization$145.8M$152.5M$152.5M$152.5M$152.5M—
Distributions from equity method investments$16.5M-$2.3M-$2.3M-$2.3M-$2.3M—
Net gains (losses) on investments-$20.3M-$20.3M-$20.3M-$20.3M-$20.3M—
Net cash from operating activities$941M$736M$1B$920M$617M$72M
Net income$189M$392M$416M$536M$428M$354M
Accretion (Amortization) of Discounts and Premiums, Investments$50M$52M$52M$52M$52M—
Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities—$180M$181M$210M—$200M
Gain (Loss) on Investments-$20.3M-$20.3M-$20.3M-$20.3M-$20.3M-$18M
Income Loss From Equity Method Investments Net Of Dividends Or Distributions$16.5M-$2.3M-$2.3M-$2.3M-$2.3M—
Increase (Decrease) in Deferred Policy Acquisition Costs$24M$37M$12M—$1M$24M
Increase (Decrease) in Other Operating Assets-$543M$92M$54M-$132M-$237M-$83M
Increase Decrease In Trading Securities—$144M-$163M$187M$245M$582M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$10M———$907M$495M
Repayments of debt$603M$1M$2M$1M$865M$1.1B
Distributions to noncontrolling interests$10M$55M$10M$11M$10M$55M
Dividends paid$13M$13M$13M$13M$13M$13M
Payments for Repurchase of Redeemable Noncontrolling Interest$5M$34M———$36M
Proceeds from issuances of debt$10M———$907M$495M
Other, net-$14M-$23M-$40M-$6M$0-$23M
Repayments of Debt$603M$1M$2M$1M$865M$1.1B
Net cash from financing activities-$976M-$520M-$322M—-$79M-$714M
Other financing activities-$14M-$23M-$40M-$6M$0-$23M
Repurchases of common stock$346M$394M$257M$55M$100M$31M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$767M$638M$872M$764M$426M-$132M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$13M$7M$12M—$1M-$4M
Net increase (decrease) in cash—$19M-$113M$120M-$72M$348M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Health care costs payable and other insurance liabilities$806M$656M$758M$108M$148M$446M