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CNA FINANCIAL CORP

For the period ended Dec 31, 2024. Filed Feb 11, 2025.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 11, 2025

CNA$48.16+1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Financial Information of Registrant (Parent Company)

SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

Statements of Operations and Comprehensive Income

(In millions)202420232022
Revenues
Net investment income$42$41$8
Total revenues42418
Expenses
Administrative and general221
Interest132126112
Total expenses134128113
Loss from operations before income taxes and equity in net income of subsidiaries(92)(87)(105)
Income tax benefit746
Loss before equity in net income of subsidiaries(85)(83)(99)
Equity in net income of subsidiaries1,0441,288781
Net income9591,205682
Equity in other comprehensive income (loss) of subsidiaries681926(2,238)
Total comprehensive income (loss)$1,640$2,131$(1,556)

Balance Sheets

(In millions, except share data)20242023
Assets
Investment in subsidiaries$12,684$11,948
Cash11
Short-term investments8461,009
Amounts due from affiliates44
Other assets11
Total assets$13,536$12,963
Liabilities
Short-term debt$—$550
Long-term debt2,9732,481
Other liabilities5039
Total liabilities3,0233,070
Stockholders' Equity
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,844,681 and 270,881,457 shares outstanding)683683
Additional paid-in capital2,2292,221
Retained earnings9,6869,755
Accumulated other comprehensive loss(1,991)(2,672)
Treasury stock (2,195,562 and 2,158,786 shares), at cost(94)(94)
Total stockholders' equity10,5139,893
Total liabilities and stockholders' equity$13,536$12,963

Statements of Cash Flows

(In millions)202420232022
Cash Flows from Operating Activities
Net income$959$1,205$682
Adjustments to reconcile net income to net cash flows provided by operating activities:
Equity in net income of subsidiaries(1,044)(1,288)(781)
Dividends received from subsidiaries9951,055990
Other, net9228
Net cash flows provided by operating activities919974919
Cash Flows from Investing Activities
Change in short-term investments204(395)114
Capital contributions to subsidiaries(6)(3)—
Net cash flows provided (used) by investing activities198(398)114
Cash Flows from Financing Activities
Dividends paid to common stockholders(1,025)(787)(982)
Proceeds from the issuance of debt490491—
Repayment of debt(550)(243)—
Purchase of treasury stock(20)(24)(39)
Other, net(12)(14)(11)
Net cash flows used by financing activities(1,117)(577)(1,032)
Net change in cash—(1)1
Cash, beginning of year121
Cash, end of year$1$1$2

Notes to Condensed Financial Information

A. Summary of Significant Accounting Policies

Basis of Presentation

The condensed financial information of CNA Financial Corporation (CNAF or the Parent Company) should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Item 8 of this Form 10-K. CNAF’s subsidiaries are accounted for using the equity method of accounting. Equity in net income of these subsidiaries is presented on the Condensed Statements of Operations as Equity in net income of subsidiaries. Loews owned approximately 92% of the outstanding common stock of CNAF as of December 31, 2024.

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