| Period End | Type | Status | Affected | % Workforce | Announced | Expected Completion | Geography | Segment / Function | Charge | Source | Note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | acquisition_addition | completed | 2026-04-30 | 2026-04-30 | United States | Boardwalk Pipelines | USD 212 (millions) | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Boardwalk Pipelines acquired Spire Marketing LLC (renamed Boardwalk Continuum Marketing, LLC) for $212 million. MD&A notes 'new employees from the Continuum acquisition' contributed to higher employee-related costs, but specific headcount added is not disclosed. | ||
| 2024-12-31 | divestiture_reduction | completed | Minneapolis | Loews Hotels & Co | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Sale of the owned Loews Minneapolis Hotel was completed during 2024; MD&A discloses aggregate proceeds of $23 million for the sale of an owned hotel. No employee headcount impact was quantified in the filing. | |||||
| 2024-12-31 | divestiture_reduction | completed | Minneapolis, United States | Loews Hotels & Co | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | No headcount associated with the disposition was disclosed; proceeds of $23 million reported in Note 2. | |||||
| 2023-12-31 | restructuring | in_progress | 2023-12-31 | CNA Financial — Other Insurance Operations | USD 24 (millions) | other f5-10k / GLM-5.3-flash-HTML | CNA committed to consolidate offices in Q4 2023; the 2023 charge relates primarily to abandonment of fixed assets and operating lease right-of-use assets no longer in use. No employee headcount impact was disclosed. | ||||
| 2023-12-31 | restructuring | announced | 2024-03-31 | CNA Financial — Other Insurance Operations | USD 16 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Subsequent event: CNA committed in Q1 2024 to consolidate additional offices, with a pretax charge of approximately $16 million anticipated in 2024. No employee headcount impact was disclosed. | ||||
| 2023-12-31 | acquisition_addition | completed | 2023-09-29 | 2023-09-29 | United States | Boardwalk Pipelines | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Boardwalk Pipelines acquired 100% of Bayou Ethane from Williams Field Services Group for $355 million in cash (~380-mile ethane pipeline system serving Louisiana and Texas). The number of employees added through the acquisition was not disclosed; $355 million is purchase consideration, not a workforce charge. | |||
| 2023-12-31 | restructuring | in_progress | 2023-10-01 | United States | CNA Financial Corporation — Corporate / Office Operations | USD 24 (millions) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Q4 2023 office consolidation commitment; $24M charge for abandonment of fixed assets and operating lease right-of-use assets. No employee headcount disclosed. | |||
| 2023-12-31 | restructuring | announced | 2024-01-01 | United States | CNA Financial Corporation — Other Insurance Operations | USD 16 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Q1 2024 commitment to consolidate offices; approximately $16M pretax charge anticipated in 2024. No employee headcount disclosed. | |||
| 2023-12-31 | restructuring | completed | 2023-10-01 | CNA Financial Corporation | USD 24 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | CNA committed to consolidate offices in Q4 2023, resulting in a $24 million charge for abandonment of fixed assets and lease right-of-use assets. Employee count not disclosed. | ||||
| 2023-12-31 | restructuring | completed | 2023-01-01 | CNA Financial Corporation | USD 19 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Charge related to office consolidation in 2023. Employee count not disclosed. | ||||
| 2023-09-30 | restructuring | announced | United States | CNA Financial — Other Insurance Operations (office consolidation, including principal executive offices) | USD 24 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Committed during Q4 2023 (after period end); no specific announcement date, employee count, or completion date disclosed. Charge is pretax and anticipated in Q4 2023. | ||||
| 2021-12-31 | divestiture_reduction | completed | 2021-04-01 | 2021-04-01 | North America | Altium Packaging LLC (reported within Corporate segment through March 31, 2021) | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Sale of 47% of Altium Packaging to GIC for $420 million cash consideration triggered deconsolidation effective April 1, 2021; retained 52.7% interest accounted for under the equity method. Altium's ~3,500 employees, previously consolidated, are now employed by the unconsolidated entity and excluded from Loews' reported year-end headcount. No workforce reduction or severance was disclosed. | |||
| 2021-12-31 | divestiture_reduction | completed | 2021-04-01 | 2021-04-01 | North America | Corporate — Altium Packaging LLC | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of 47% of Altium Packaging to GIC for $420 million cash; Loews retained 52.7% but deconsolidated the business, removing its workforce (approximately 3,500 persons, disclosed as unconsolidated) from consolidated headcount. No employee-affected count stated. | |||
| 2021-12-31 | other | completed | 2021-12-31 | 2021-12-31 | United States — Seattle, Washington | Loews Hotels & Co | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the Hotel 1000 in Seattle completed during 2021; no associated workforce reduction quantified. | |||
| 2020-12-31 | other | completed | 2020-04-26 | 2020-04-26 | United States | Diamond Offshore (offshore contract drilling) | USD 1 (billions) | other f5-10k / GLM-5.3-flash-HTML | Diamond Offshore filed Chapter 11 on April 26, 2020; Loews lost control and deconsolidated it effective that date, removing its workforce from consolidated headcount. Affected employee count not disclosed. Charge shown is the pretax loss on deconsolidation ($957 million after tax), not a workforce charge; a separate $774 million rig impairment was recorded in Q1 2020 while consolidated. | ||
| 2020-12-31 | other | completed | 2020-03 | United States and Canada | Loews Hotels & Co | MD&A f5-10k / GLM-5.3-flash-HTML | Beginning March 2020, operations at the majority of owned and/or operated hotels were temporarily suspended due to COVID-19, with operating cost structures adjusted during suspensions. Most hotels had resumed operations by the filing date, though occupancy remained materially below prior-year levels. Affected headcount and any severance charges not quantified. | ||||
| 2020-12-31 | acquisition_addition | completed | 2020-11 | 2020-11 | Altium Packaging (reported in Corporate segment) | USD 60 (millions) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Altium Packaging acquired a packaging manufacturer in November 2020 for approximately $60 million. Headcount added through the acquisition not disclosed; charge shown is purchase consideration, not a workforce charge. | |||
| 2020-12-31 | acquisition_addition | completed | United States | Altium Packaging LLC (Corporate segment) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Altium Packaging paid approximately $60 million in 2020 for a packaging manufacturer; headcount added not disclosed. | |||||
| 2020-12-31 | other | in_progress | 2020-03-01 | United States | Loews Hotels & Co | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Beginning in March 2020 the company temporarily suspended operations at most owned and/or operated hotels due to COVID-19; most have since resumed. Filer does not quantify associated headcount reductions or furloughs. | ||||
| 2020-12-31 | layoff | completed | 2020-03 | United States | Loews Hotels & Co | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Loews Hotels & Co furloughed a substantial portion of its workforce and severed employees due to COVID-19 pandemic impacts. | ||||
| 2020-09-30 | other | in_progress | United States | Loews Hotels & Co | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Furloughs (unpaid leaves of absence) and severances taken as COVID-19 cost containment; filer gives no counts or dates. Actions began March–April 2020 with hotel suspensions. | |||||
| 2020-09-30 | other | completed | 2020-03-01 | Global | Loews Hotels & Co | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Loews Hotels & Co put a substantial number of employees on unpaid leaves of absence or severed them from the organization due to COVID-19 operational suspensions. Specific headcount not disclosed. | ||||
| 2020-06-30 | layoff | in_progress | 2020-03-01 | United States | Loews Hotels & Co | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Due to COVID-19, Loews Hotels & Co temporarily suspended operations at 22 of its hotels beginning March 2020 and placed a substantial number of employees on unpaid leaves of absence or severed them from the organization; no affected-employee count is disclosed. The filing notes a risk that furloughed or eliminated roles may be difficult to refill when operations resume. | ||||
| 2020-06-30 | other | completed | 2020-03-01 | United States | Loews Hotels & Co | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Loews Hotels & Co put a substantial number of employees on unpaid leaves of absence or severed them from the organization due to COVID-19 pandemic. | ||||
| 2020-03-31 | other | in_progress | 2020-03 | United States | Loews Hotels & Co | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Twenty owned and/or operated hotels temporarily suspended operations in March 2020 due to COVID-19; two completed hotels did not open and two additional hotels suspended operations in April 2020. Only three owned hotels and one managed hotel remained operational with limited occupancy. Employee counts affected were not disclosed. | ||||
| 2020-03-31 | other | announced | 2020-04-26 | United States | Diamond Offshore Drilling | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Diamond Offshore filed Chapter 11 on 2020-04-26; deconsolidation expected with significant non-cash loss in Q2 2020. No employee count disclosed. | ||||
| 2020-03-31 | layoff | in_progress | United States | Loews Hotels & Co | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Twenty hotels temporarily suspended operations in March 2020 and two more in April 2020 due to COVID-19; no employee impact quantified. | |||||
| 2020-03-31 | other | in_progress | 2020-03-31 | Global | Loews Hotels & Co | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Substantial number of employees placed on unpaid leaves of absence due to COVID-19 pandemic and temporary suspension of hotel operations. | ||||
| 2019-12-31 | acquisition_addition | completed | 2019 | United States and Canada | Altium Packaging (Corporate segment) | USD 260 (millions) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Three plastic packaging manufacturer acquisitions completed in 2019, funded partly with debt financing; headcount added through the combinations not disclosed. Includes Altium Healthcare Inc. (formerly Tri State Distribution, Inc.), acquired June 14, 2019. The $260 million figure is aggregate purchase consideration, not a severance or restructuring charge. | |||
| 2017-12-31 | acquisition_addition | completed | 2,300 | 2017-05-22 | 2017-05-22 | North America | Corporate segment — Consolidated Container Company LLC (rigid plastic packaging) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of CCC Acquisition Holdings, Inc. for $1.2 billion completed May 22, 2017, funded with approximately $620 million of Parent Company cash and $600 million of debt financing at Consolidated Container. Headcount of approximately 2,300 is the year-end figure for the acquired business; results included in the Corporate segment from the acquisition date. | ||
| 2017-12-31 | acquisition_addition | completed | 2,300 | 2017-05-22 | 2017-05-22 | North America | Corporate (Consolidated Container) | Item 1_Business f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of CCC Acquisition Holdings, Inc. (Consolidated Container) completed May 22, 2017. | ||
| 2017-03-31 | acquisition_addition | announced | 2017-04-11 | 2017-06-30 | North America | Loews Packaging Group (new segment) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger agreement to acquire Consolidated Container Company for approximately $1.2 billion; no employee headcount disclosed. Expected to close in Q2 2017, funded ~50% cash and ~50% subsidiary-level debt. | |||
| 2016-09-30 | restructuring | completed | 2016-07-01 | CNA Financial | USD 11 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | CNA completed a comprehensive organization review in Q3 2016; termination costs from headcount reductions totaled $11 million in the quarter, primarily underwriting expenses and unallocated loss adjustment expenses. Estimated annual salary-related savings of approximately $50 million, expected to reduce the 2017 property and casualty expense ratio by about half a point. Nine-month termination costs were $17 million. No affected-employee count disclosed. | ||||
| 2016-09-30 | restructuring | in_progress | United States | CNA Financial — Specialty, Commercial, International (underwriting and unallocated loss adjustment functions) | USD 11 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA completed a comprehensive organization review in Q3 2016; termination costs from headcount reductions added $11M to Q3 expenses (underwriting and unallocated LAE). Annual salary savings estimated at ~$50M; expected to reduce 2017 P&C expense ratio by half a point. No employee count disclosed. YTD charge of $17M includes the $11M Q3 amount. | ||||
| 2016-09-30 | restructuring | completed | 2016-09-30 | CNA Financial | USD 11 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Termination costs associated with headcount reductions from comprehensive organization review. | ||||
| 2015-12-31 | acquisition_addition | completed | 2015-03-01 | United States | Loews Hotels | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Two hotel acquisitions in 2015 (Chicago in March, San Francisco in April) for approximately $330 million; a 50% joint venture interest in the Loews Atlanta Hotel was also acquired in June 2015. Headcount added not disclosed. | ||||
| 2015-12-31 | acquisition_addition | completed | 2016-01-01 | United States | Loews Hotels | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | January 2016 acquisition of Hotel 1000 in Seattle, completed after fiscal year-end and before the filing date. Headcount added not disclosed. | ||||
| 2015-06-30 | restructuring | in_progress | Global | Diamond Offshore | USD 7 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Six-month 2015 results include $7 million of restructuring and severance costs; no employee count, announcement date, or completion timeline disclosed. | ||||
| 2015-06-30 | restructuring | completed | 2015-06-30 | 2015-06-30 | CNA Financial | USD 55 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Curtailment gain from elimination of future benefit accruals associated with the CNA Retirement Plan effective June 30, 2015. | |||
| 2015-06-30 | restructuring | in_progress | 2015-01-01 | Diamond Offshore | USD 7 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring and severance costs recognized in the six months ended June 30, 2015. | ||||
| 2014-12-31 | divestiture_reduction | completed | 2014-08-01 | 2014-08-01 | United States | CNA Financial — life insurance subsidiary (Continental Assurance Company) | USD 189 (millions) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of CAC completed August 1, 2014; loss of $189 million after tax and noncontrolling interests recorded. Headcount associated with the divested business not disclosed. | ||
| 2014-12-31 | divestiture_reduction | completed | 2014-08-07 | 2014-09-30 | United States | HighMount Exploration & Production LLC (oil and gas exploration and production) | USD 138 (millions) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale to affiliates of EnerVest, Ltd. completed September 30, 2014 for net proceeds of $787 million; impairment loss of $138 million after tax. Headcount transferred with the business not disclosed. | ||
| 2014-12-31 | acquisition_addition | completed | 2014-07-01 | 2014-10-31 | United States | Loews Hotels — hotel acquisitions (Chicago O'Hare, Minneapolis, Tucson) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Three hotels acquired during 2014 for a total cost of approximately $230 million; headcount added not disclosed. Dates reflect approximate acquisition months (July and October 2014). | |||
| 2014-12-31 | acquisition_addition | completed | 2014-10-01 | 2014-10-31 | United States | Boardwalk Pipeline — Evangeline ethylene pipeline system (Boardwalk Petrochemical) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Asset/business acquisition for $295 million in cash completed October 2014; headcount added not disclosed. Date reflects month only. | |||
| 2014-09-30 | other | completed | 2014-06-30 | CNA Financial | USD 86 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | CNA eliminated certain postretirement medical benefits associated with the CNA Health and Group Benefits Program, resulting in an $86 million curtailment gain. | ||||
| 2014-09-30 | other | announced | 2014-09-30 | 2014-12-31 | CNA Financial | USD 60 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA offered a limited-time lump sum payment opportunity to terminated vested participants in the CNA Retirement Plan. A settlement charge of up to $60 million is expected in Q4 2014. | |||
| 2014-06-30 | divestiture_reduction | in_progress | 2014-05 | United States | HighMount Exploration & Production (natural gas and oil E&P) | USD 259 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Impairment charge of $259M ($167M after tax) for excess carrying value over estimated fair value less costs to sell; no employee count disclosed. | |||
| 2014-06-30 | divestiture_reduction | completed | 2014-08-01 | United States | CNA Financial — Life & Group Non-Core (run-off annuity and pension deposit business, Continental Assurance Company) | USD 193 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of CAC common stock closed August 1, 2014 (subsequent event); $193M impairment (after tax and noncontrolling interests) recorded in Q1 2014; no employee count disclosed. | |||
| 2014-06-30 | restructuring | completed | 2014-04-30 | 2014-06-30 | CNA Financial | USD 86 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | CNA eliminated certain postretirement medical benefits associated with the CNA Health and Group Benefits Program, resulting in an $86 million curtailment gain. | |||
| 2014-06-30 | other | in_progress | 2014-06-30 | HighMount | MD&A f5-10q / Qwen3.6-27B-Q8_0 | HighMount is pursuing strategic alternatives including a potential sale. Exit and disposal costs include severance and retention costs. | |||||
| 2013-12-31 | divestiture_reduction | announced | 2014-02-10 | CNA Financial — Life & Group Non-Core (run-off annuity and pension deposit business) | USD 200 (millions) | subsequent_events f5-10k / GLM-5.3-flash-HTML | Definitive agreement to sell the majority of CNA's run-off annuity and pension deposit business via sale of CAC common stock plus a 100% coinsurance agreement on a small separate annuity block. Gross insurance reserves for the business were approximately $3.4 billion at December 31, 2013; headcount impact not disclosed; closing subject to regulatory approvals and expected in the first half of 2014. An impairment loss of approximately $200 million (after tax and noncontrolling interests) is to be recorded in Q1 2014; it is a transaction-related charge, not a severance charge. The business will be reported as discontinued operations beginning Q1 2014. | ||||
| 2013-12-31 | plant_closure | completed | 2014-02 | 2014-02 | Quebec City, Canada | Loews Hotels | Item_1_Business f5-10k / GLM-5.3-flash-HTML | The owned Loews LeConcorde Hotel was closed in February 2014, after fiscal year-end and prior to the filing date. It is excluded from the owned-hotel listing going forward. No workforce impact or associated charge was disclosed. | |||
| 2012-12-31 | acquisition_addition | completed | 2012-07-02 | 2012-07-02 | United Kingdom, Bermuda, Bahrain, Guernsey, Singapore | CNA Financial — Hardy Underwriting (Lloyd's syndicate 382) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Purchase price $231 million; headcount added not disclosed. | |||
| 2012-12-31 | acquisition_addition | completed | 2012-10-01 | 2012-10-01 | United States (Louisiana) | Boardwalk Pipeline — Louisiana Midstream | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Purchase price approximately $620 million; headcount added not disclosed. | |||
| 2012-12-31 | acquisition_addition | completed | 2012-06-01 | 2012-06-01 | United States (California) | Loews Hotels — Loews Hollywood Hotel | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Hotel acquired June 2012; headcount added not disclosed. | |||
| 2012-12-31 | divestiture_reduction | completed | 2012-12-01 | 2012-12-01 | United States (Colorado) | Loews Hotels — Loews Denver Hotel | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Hotel sold December 2012; workforce impact not disclosed. | |||
| 2010-12-31 | divestiture_reduction | completed | 2010-04-30 | 2010-04-30 | Michigan, United States | HighMount Exploration & Production | other f5-10k / GLM-5.3-flash-HTML | Sale of substantially all Antrim Shale exploration and production assets to a subsidiary of Linn Energy for approximately $330 million; headcount impact not disclosed. Under full cost accounting, proceeds reduced capitalized cost rather than producing a gain or loss. | |||
| 2010-12-31 | divestiture_reduction | completed | 2010-05-28 | 2010-05-28 | Alabama, United States | HighMount Exploration & Production | other f5-10k / GLM-5.3-flash-HTML | Sale of substantially all Black Warrior Basin exploration and production assets to a subsidiary of Walter Energy for approximately $210 million; headcount impact not disclosed. Combined net proceeds of the Michigan and Alabama sales (~$500 million) were used to reduce HighMount term loan debt. | |||
| 2010-12-31 | other | completed | 2010-08-31 | 2010-08-31 | CNA Financial — Other Insurance (centralized asbestos/environmental pollution claim group) | other f5-10k / GLM-5.3-flash-HTML | Loss Portfolio Transfer with NICO (a Berkshire Hathaway subsidiary) closed August 31, 2010; a significant portion of CNA's centralized A&EP claim group became employees of the Berkshire Hathaway subsidiary. Number of transferred employees not disclosed. | ||||
| 2010-12-31 | restructuring | in_progress | 2010 | 2012 | CNA Financial — Information Technology | USD 38 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Program to transform CNA's IT organization and delivery model; no workforce headcount impact disclosed. Approximately $36 million of the ~$38 million anticipated total cost was incurred through December 31, 2010; full annual savings expected in 2012. | |||
| 2010-12-31 | restructuring | in_progress | 2010 | United States | CNA Financial — Information Technology | USD 36 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Program to transform CNA's IT organization and delivery model; total estimated cost approximately $38 million, of which $36 million incurred through December 31, 2010. No headcount reduction quantified; full annual savings anticipated in 2012. | |||
| 2010-12-31 | divestiture_reduction | completed | 2010-08-31 | 2010-08-31 | United States | CNA Financial — Other Insurance (asbestos and environmental pollution claim group) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Upon closing of the Loss Portfolio Transfer to a Berkshire Hathaway subsidiary, a significant portion of the centralized claim group became employees of that subsidiary; headcount not quantified. | |||
| 2008-12-31 | divestiture_reduction | completed | 2008-05-07 | 2008-06-16 | Lorillard, Inc. (wholly owned tobacco subsidiary) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Entire ownership interest in Lorillard disposed of via a two-step Separation under an agreement dated May 7, 2008: the June 10, 2008 Redemption exchanged approximately 62% of Lorillard shares for all former Carolina Group stock, and the June 16, 2008 Exchange Offer distributed the remaining approximately 38% for Loews shares. Lorillard is reported as a discontinued operation; a $4.3 billion gain on disposal was recorded. The number of employees leaving the consolidated group is not disclosed. | ||||
| 2008-12-31 | divestiture_reduction | completed | 2008-01 | 2008-01 | Bulova Corporation | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Sale of Bulova completed in January 2008 for approximately $263 million, generating a pretax gain of approximately $126 million ($75 million after tax). Bulova is reported within discontinued operations; the number of employees affected is not disclosed. | ||||
| 2008-12-31 | divestiture_reduction | completed | 2008-06-10 | 2008-06-16 | United States | Lorillard, Inc. (tobacco) — discontinued operations | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Full ownership interest in Lorillard disposed of via Redemption (June 10, 2008) and Exchange Offer (June 16, 2008); headcount transferred not disclosed. | |||
| 2007-12-31 | acquisition_addition | completed | 500 | 2007-07-31 | 2007-07-31 | United States (Texas, Michigan, Alabama) | HighMount Exploration & Production | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Acquisition of exploration and production assets from Dominion Resources subsidiaries closed July 31, 2007 for $4.0 billion, subject to adjustment. The filing does not state an explicit employees-added figure; the 500 reflects HighMount's approximate year-end headcount per Employee Relations and therefore approximates headcount added. No workforce-related charge disclosed; purchase consideration excluded from charge fields. | ||
| 2007-12-31 | divestiture_reduction | announced | 2007-10-04 | 2008-01 | Bulova Corporation | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Agreement effective October 4, 2007 to sell Bulova to Citizen Watch Co., Ltd. for roughly $250 million, subject to adjustment, with expected pretax gain of about $105 million; sale closed in January 2008 after fiscal year-end and Bulova's results were reclassified to discontinued operations. No employee headcount for Bulova is disclosed. | ||||
| 2007-12-31 | acquisition_addition | completed | 500 | 2007-07-31 | 2007-07-31 | United States | HighMount Exploration & Production LLC | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | HighMount acquired from Dominion Resources subsidiaries on 2007-07-31; approximately 500 persons employed at year-end. Headcount is year-end figure, not explicitly stated as acquisition-added. | ||
| 2007-12-31 | divestiture_reduction | announced | 2007-10-04 | 2008-01-31 | United States | Bulova Corporation | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell Bulova to Citizen Watch Co., Ltd. for approximately $250 million; closed January 2008. Headcount not disclosed. | |||
| 2007-12-31 | voluntary_separation | completed | 2006-04 | United States | Lorillard Sales and Market Research | USD 20 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Early retirement program offered to eligible employees in April 2006. Costs recorded in 2006. | |||
| 2007-12-31 | restructuring | completed | 2001 | 2006 | United States | CNA Financial Property and Casualty and Life & Group Non-Core | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Plan finalized in 2001. In 2006, excess remaining accrual of $7 million after tax was released as lease obligations were completed. | |||
| 2007-06-30 | voluntary_separation | in_progress | 2006-07-01 | United States | Boardwalk Pipeline | USD 4 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Early retirement incentive program implemented in second half of 2006; a $3.8 million settlement charge was recognized in the first half of 2007. No employee count disclosed. | |||
| 2007-06-30 | acquisition_addition | announced | 2007-07-31 | 2007-07-31 | United States | HighMount Exploration & Production (natural gas E&P) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | HighMount acquired E&P assets from Dominion Resources for $4.025 billion in cash on July 31, 2007; no headcount figures disclosed for the acquired business. | |||
| 2007-06-30 | acquisition_addition | announced | 2007-07-31 | 2007-07-31 | United States (Texas, Michigan, Alabama) | HighMount Exploration & Production (natural gas E&P) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | HighMount acquired E&P assets from Dominion Resources for $4.025B cash; no employee headcount disclosed for the acquired business. | |||
| 2007-06-30 | restructuring | completed | Boardwalk Pipeline | USD 15 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Impairment charge for Magnolia storage facility cavern abandonment. | |||||
| 2007-06-30 | voluntary_separation | completed | Boardwalk Pipeline | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Settlement charge recognized as a result of the early retirement incentive program. | |||||
| 2007-03-31 | voluntary_separation | completed | Boardwalk Pipeline | USD 3 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Special termination benefit charge recognized as a result of an early retirement incentive program. | |||||
| 2006-12-31 | restructuring | in_progress | 2006-04 | United States | Lorillard — sales and market research organization | USD 20 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Program included an early retirement offer to eligible employees; charge recorded in other operating expenses, primarily early retirement and pension/other postretirement curtailment charges. Number of employees affected and completion timing not disclosed. | |||
| 2006-12-31 | restructuring | completed | 2001 | 2006-12-31 | United States | CNA Financial — property and casualty, Life and Group Non-Core segments; real estate consolidation | USD 13 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2006 activity was a release of the remaining lease-termination accrual (lease obligations completed), producing pretax income of $12.9 million ($7.3 million after tax and minority interest) rather than a new charge. Original program approved in 2001; employees affected not disclosed. | ||
| 2006-12-31 | restructuring | completed | 2001 | 2006-06-30 | United States | CNA Financial | USD -13 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Release of excess remaining accrual related to lease termination costs from 2001 plan. Negative charge indicates income. | ||
| 2006-12-31 | voluntary_separation | completed | 2006-04 | 2006-12-31 | United States | Lorillard | USD 20 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Early retirement program and restructuring of sales and market research organization. Includes pension curtailment charges. | ||
| 2006-09-30 | voluntary_separation | in_progress | 2006-04-01 | United States | Lorillard — sales and market research organization | USD 16 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Lorillard began restructuring its sales and market research organization in April 2006, offering an early retirement program; nine-month costs of $16.4 million covered early retirement and curtailment charges on pension and other postretirement benefit plans. No headcount figure disclosed. | |||
| 2006-09-30 | voluntary_separation | in_progress | 2006-04-01 | United States | Lorillard — Sales and Market Research | USD 16 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Early retirement program offered to eligible employees; charge includes pension and postretirement curtailment costs for nine months ended 2006-09-30. No employee count disclosed. | |||
| 2006-09-30 | restructuring | completed | Lorillard | USD 16 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring of sales and market research organization; early retirement program for eligible employees. | |||||
| 2006-09-30 | restructuring | completed | Boardwalk Pipeline | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Special termination benefit charge resulting from Texas Gas early retirement incentive program. | ||||||
| 2006-06-30 | voluntary_separation | in_progress | 2006-04-01 | United States | Lorillard — Sales and Market Research | USD 16 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Lorillard restructured its sales and market research organization and offered an early retirement program to eligible employees; charge includes early retirement and pension/postretirement curtailment costs. No employee count disclosed. | |||
| 2006-06-30 | restructuring | completed | United States | CNA Financial — Corporate / Real Estate | USD -13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA released remaining lease-termination accrual as lease obligations were completed, producing a $12.9M pretax benefit. No employee counts disclosed; action relates to real estate consolidation. | ||||
| 2006-06-30 | restructuring | completed | 2001-01-01 | 2006-06-30 | CNA Financial | USD -13 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Release of excess accrual for lease termination costs as obligations completed. | |||
| 2006-06-30 | restructuring | in_progress | 2006-04-01 | Lorillard | USD 16 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Restructuring of sales and market research organization; early retirement program. | ||||
| 2005-12-31 | restructuring | in_progress | 2001 | CNA Financial — property and casualty segments and Life and Group Non-Core segment; discontinued variable life and annuity business; consolidated certain real estate locations | USD 1 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Legacy 2001 program. Fiscal 2005 activity limited to approximately $1.0 million of costs paid and release of a $1.0 million accrual related to impaired assets; no employee counts disclosed for any period of the program. Remaining accrual was $13.0 million at December 31, 2005, with approximately $2.0 million (primarily lease termination costs) expected to be paid in 2006. Original 2001 charge was $189.0 million. Separate CNA IT restructuring plan had no 2005 activity (its remaining $3.0 million accrual was released in 2004). | ||||
| 2005-12-31 | divestiture_reduction | completed | 2005-01-06 | 2005-01-06 | United States | CNA Financial — Specialty Medical | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | CNA completed sale of specialty medical business to Aetna Inc. on January 6, 2005. Headcount not disclosed. | |||
| 2005-12-31 | restructuring | in_progress | 2001-01-01 | United States | CNA Financial — Property & Casualty and Life/Group Non-Core segments | USD 13 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Multi-year restructuring plan approved in 2001; remaining accrual of $13.0 million at December 31, 2005. Approximately $1.0 million of costs paid during 2005. Employee counts not disclosed. Cumulative through fiscal year-end. | |||
| 2005-12-31 | restructuring | completed | 2001 | CNA Financial | USD 13 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Remaining accrual related to 2001 plan to restructure property and casualty segments and Life and Group Non-Core segment. Approximately $2.0 million expected to be paid in 2006. | ||||
| 2004-12-31 | restructuring | completed | 2001 | 2005 | United States; United Kingdom (CNA Re lease terminations) | CNA Financial — property and casualty segments, Life and Group Non-Core, Other Insurance (real estate consolidation) | USD 15 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year program initiated in 2001 with an initial accrual of $189.0 million. No new charges or releases were recorded in 2003 or 2004; $5.0 million of payments were charged against the liability during 2004. The value shown is the remaining accrual at December 31, 2004 (lease termination and impaired asset costs; no employee termination costs remained); approximately $3.0 million expected to be paid in 2005. Cumulative through fiscal year-end. | ||
| 2004-12-31 | restructuring | completed | 2004 | United States | CNA Financial — company-wide | MD&A f5-10k / GLM-5.3-flash-HTML | Initiatives included stricter expense policies, consolidation of facility locations, and to a lesser extent, workforce reductions; produced approximately $100.0 million of expense savings in 2004. Headcount impact not quantified. Distinct from a ~5% workforce reduction executed in 2003 (prior year, not extracted). | ||||
| 2004-12-31 | divestiture_reduction | completed | 2004-04-30 | 2004-04-30 | United States | CNA Financial — Life and Group Non-Core (individual life insurance business) | MD&A f5-10k / GLM-5.3-flash-HTML | Sale of term, universal and permanent life insurance and individual annuity business to Swiss Re closed April 30, 2004; long term care and structured settlement businesses excluded. Resulting pretax investment loss of $618.6 million ($352.9 million after tax and minority interest). Employee headcount transferred not disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2004-08-01 | 2004-08-01 | United States | CNA Financial — Life and Group Non-Core (retirement plan trust and recordkeeping business) | other f5-10k / GLM-5.3-flash-HTML | CNA Trust portfolio sold to Union Bank of California for approximately $12.0 million on August 1, 2004; charter sold November 19, 2004 and entity merged into buyer. Headcount not disclosed. | |||
| 2004-12-31 | acquisition_addition | completed | 2004-12-29 | 2004-12-29 | Texas, Louisiana, Mississippi, Alabama, Florida | Boardwalk Pipelines (Gulf South Pipeline Company, LP) | USD 1,140 (millions) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Transaction value shown is the acquisition purchase price (funded with $575.0 million interim loan and ~$561.0 million cash); not a severance or workforce charge. Headcount added through the acquisition not disclosed. | ||
| 2004-12-31 | divestiture_reduction | completed | 2005-01 | 2005-01 | United States | CNA Financial — Life and Group Non-Core (specialty medical business) | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Subsequent to fiscal year-end: specialty medical business sold to Aetna in January 2005. The business contributed $14.6 million of CNA net income in 2004. Headcount not disclosed. | |||
| 2004-12-31 | restructuring | completed | 2003-01-01 | 2004-12-31 | United States | CNA Financial — expense reduction initiatives | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | CNA undertook 2004 expense initiatives producing ~$100.0M savings via expense policies, facilities consolidation, and some workforce reductions; no headcount figure disclosed. A separate 2003 initiative reduced workforce ~5% (prior year, not extracted). | |||
| 2004-12-31 | divestiture_reduction | completed | 2004-04-30 | 2004-04-30 | United States | CNA Financial — individual life insurance business | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of individual life insurance business to Swiss Re completed April 30, 2004; headcount transferred not disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2004-08-01 | 2004-08-01 | United States | CNA Financial — retirement plan trust and recordkeeping business (CNA Trust) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of CNA Trust business portfolio to Union Bank of California completed August 1, 2004; headcount transferred not disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2005-01-01 | 2005-01-31 | United States | CNA Financial — specialty medical business | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Specialty medical business sold to Aetna in January 2005 (subsequent to fiscal year-end); headcount transferred not disclosed. | |||
| 2004-12-31 | acquisition_addition | completed | 2004-12-29 | 2004-12-29 | United States | Boardwalk Pipelines — Gulf South Pipeline, LP | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Gulf South for ~$1.14 billion completed December 29, 2004; acquired headcount not disclosed. | |||
| 2004-12-31 | restructuring | completed | 2003-01-01 | 2004-12-31 | Global | CNA Financial | USD 100 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | CNA undertook additional expense initiatives in 2004 producing savings of approximately $100 million, including workforce reductions. Prior 2001 Plan restructuring accruals were largely depleted. | ||
| 2004-12-31 | restructuring | completed | 2003-01-01 | 2004-12-31 | Global | CNA Financial | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Payments charged against liability for the 2001 Plan totaled $5.0 million in 2004. Remaining accrual of $15.0 million at year-end. | ||
| 2004-12-31 | restructuring | in_progress | 2004-01-01 | United States | CNA Financial | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | CNA undertook expense initiatives in 2004 producing ~$100M savings, including workforce reductions to a lesser extent; headcount impact not quantified. Further $100M savings targeted for 2005. | ||||
| 2004-12-31 | divestiture_reduction | completed | 2004-04-30 | 2004-04-30 | United States | CNA Financial — Life and Group Non-Core | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of individual life insurance business to Swiss Re completed April 30, 2004; headcount transferred not disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2004-08-01 | 2004-08-01 | United States | CNA Financial — Corporate | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of CNA Trust retirement plan trust and recordkeeping business to Union Bank of California; headcount transferred not disclosed. | |||
| 2004-12-31 | acquisition_addition | completed | 2004-12-29 | 2004-12-29 | United States | Boardwalk Pipelines | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Gulf South Pipeline, LP for ~$1.14 billion; headcount added not disclosed. | |||
| 2004-12-31 | divestiture_reduction | announced | 2005-01-01 | 2005-01-31 | United States | CNA Financial — Life and Group Non-Core | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Specialty medical business sold to Aetna in January 2005; contributed $14.6M net income in 2004. Headcount transferred not disclosed. | |||
| 2004-09-30 | restructuring | completed | CNA Financial | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA achieved targeted workforce reduction of approximately five percent as part of 2003 expense initiative; actions completed in 2004. | ||||||
| 2004-09-30 | restructuring | in_progress | CNA Financial | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Additional expense initiatives in 2004 include workforce reductions to produce savings in excess of $100 million beginning in 2004 and continuing through 2005. | ||||||
| 2004-06-30 | restructuring | in_progress | 2003-01-01 | 2004-12-31 | Global | CNA Financial | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA implemented a workforce reduction of approximately five percent as part of a 2003 expense initiative. The targeted reduction was achieved as of December 31, 2003. Additional 2004 initiatives include 'workforce reductions' but no specific headcount is disclosed for the current quarter. | |||
| 2004-03-31 | restructuring | in_progress | 2004-12-31 | CNA Financial | USD 1 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | IT Plan: $1.0 million in payments charged against liability; remaining accrual of $3.0 million expected to be paid through 2004. | ||||
| 2004-03-31 | restructuring | in_progress | CNA Financial | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 2001 Plan: $4.0 million in payments for lease termination costs charged against liability; remaining accrual of $16.0 million, approx $5.0 million expected in 2004. | |||||
| 2003-12-31 | restructuring | completed | 2003-01-01 | 2003-12-31 | Global | CNA Financial | USD 28 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Reduction of workforce by approximately five percent. Targeted reduction achieved as of December 31, 2003. | ||
| 2003-12-31 | divestiture_reduction | completed | 1,200 | 2003-12-31 | 2003-12-31 | United States | CNA Financial - Group Benefits | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Employees transferred to Hartford Financial Services Group. | ||
| 2003-09-30 | restructuring | in_progress | 5% | 2003-06-30 | 2004-12-31 | Global | CNA Financial | USD 16 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA announced a $200 million expense reduction initiative in Q2 2003, including a workforce reduction of approximately 5%. $16 million in severance costs recorded for the nine months ended Sept 30, 2003. | |
| 2003-09-30 | restructuring | completed | 2003-06-30 | 2003-06-30 | Global | CNA Life Operations | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA recorded $4 million pretax of associated severance costs in Q2 2003 related to reducing new sales of individual long term care products and certain infrastructure costs. | ||
| 2003-06-30 | restructuring | in_progress | 5% | 2003-06-30 | 2004-06-30 | Global | CNA Financial | USD 200 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA launched a $200 million expense reduction initiative including a workforce reduction of approximately 5%. Strategies anticipated to be implemented over the next year. | |
| 2003-06-30 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Global | CNA Financial - IT Operations | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Accrued liability relating to employee termination and related benefit costs for the IT Plan was $4.0 million as of June 30, 2003. Remaining accrual expected to be paid through 2004. | ||
| 2003-06-30 | restructuring | in_progress | 2001-01-01 | 2003-12-31 | Global | CNA Financial - Property and Casualty / Life | USD 26 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Accrued liability for the 2001 Plan, relating primarily to lease termination costs, was $26.0 million as of June 30, 2003. Approximately $6.0 million expected to be paid in remainder of 2003. | ||
| 2003-06-30 | restructuring | completed | 2003-06-30 | 2003-06-30 | Global | CNA Financial - Life Operations | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | CNA recorded $4.0 million pretax of associated severance costs in the second quarter of 2003 related to reducing new sales of individual long term care products and certain infrastructure costs. | ||
| 2003-03-31 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Information Technology | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | IT Plan accrual for employee termination and related benefit costs; payments continue through 2004. | |||
| 2003-03-31 | restructuring | in_progress | 2001-01-01 | Property and Casualty, Life Operations, Group Operations | USD 30 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Plan accrual for lease termination costs and impaired asset charges; approx $10M expected to be paid in remainder of 2003. | ||||
| 2002-12-31 | restructuring | in_progress | 882 | 2001 | 2003 | CNA — Standard Lines | USD 40 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net employees released through fiscal year-end; plan targeted 1,063 positions. The 2001 charge comprised $27.0M severance/outplacement and $13.0M other salary costs; $8.0M of the accrual was reduced in Dec 2002 following successful redeployments, with $1.0M payable in 2003. | ||
| 2002-12-31 | restructuring | in_progress | 126 | 2001 | 2003 | CNA — Specialty Lines | USD 7 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net releases through fiscal year-end; 177 positions targeted. Charge was entirely employee termination costs ($5.0M severance/outplacement, $2.0M other salary); $1.0M of the accrual was reduced in Dec 2002, with $1.0M payable in 2003. | ||
| 2002-12-31 | restructuring | completed | 15 | 2001 | CNA — CNA Re | USD 6 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net releases through fiscal year-end; 33 positions targeted. Charge included $2.0M employee termination and $4.0M lease termination costs (lease costs related solely to U.K. operations); the remaining $4.0M accrual was reduced upon the 2002 sale of CNA Re U.K. | |||
| 2002-12-31 | restructuring | completed | 82 | 2001 | CNA — Group Operations | USD 42 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net releases through fiscal year-end; 187 positions targeted. Charge included $7.0M employee termination costs and a $35.0M non-cash write-off of deferred acquisition costs on in-force variable life and annuity contracts. | |||
| 2002-12-31 | restructuring | completed | 144 | 2001 | CNA — Life Operations | USD 12 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net releases through fiscal year-end; 207 positions targeted. Charge included $3.0M employee termination costs and $9.0M software impairment; the residual $1.0M software accrual was reduced in Dec 2002. | |||
| 2002-12-31 | restructuring | in_progress | 157 | 2001 | 2003 | CNA — Other Insurance | USD 82 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative net releases through fiscal year-end; 194 positions targeted. Charge included $9.0M employee termination and $73.0M lease termination/asset impairment costs; $7.0M lease and $14.0M impaired-asset accruals were reversed into 2002 income after office consolidations were delayed. | ||
| 2002-12-31 | restructuring | in_progress | 249 | 2001 | 2005 | CNA — Information Technology (across segments) | USD 62 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cumulative releases through fiscal year-end; approximately 260 positions targeted, nearly all technology support staff. 2001 charge comprised $29.0M employee termination, $32.0M impaired assets and $1.0M other; $4.0M of the accrual was reduced in Dec 2002, with the remaining $5.0M payable through 2005. | ||
| 2002-12-31 | divestiture_reduction | completed | 2002-07-01 | United States | CNA — Group Operations (Federal Markets) | other f5-10k / GLM-5.3-flash-HTML | Sale of federal health plan administrator Claims Administration Corporation and transfer of the Mail Handlers Plan to First Health Group on July 1, 2002; transferred headcount not disclosed. Transaction produced a $7.0M pretax realized loss and $15.0M of non-recurring fee income. | ||||
| 2002-12-31 | divestiture_reduction | completed | 2002-10-31 | United Kingdom | CNA — CNA Re (U.K. reinsurance operations) | other f5-10k / GLM-5.3-flash-HTML | Sale of the U.K. reinsurance company to Tawa U.K. Limited completed October 31, 2002; intention to sell was first announced in Q2 2001. Employee headcount transferred not disclosed; the related CNA Re restructuring accrual was reduced as a result of the sale. | ||||
| 2002-12-31 | divestiture_reduction | completed | 2002 | Chile | CNA — Life Operations (CNA Vida, Chile) | other f5-10k / GLM-5.3-flash-HTML | Sale of the Chilean life operations to Consorcio Financiero completed in Q1 2002; presented as discontinued operations with a $31.0M after-tax and minority-interest loss. Employee headcount transferred not disclosed. | ||||
| 2002-12-31 | restructuring | in_progress | 249 | 2001 | United States | CNA Financial — Information Technology | USD 62 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $62.0M pretax was recorded in FY2001; $4.0M of accrual was reduced in FY2002. Remaining accrual of $5.0M expected to be paid through 2005. | ||
| 2002-12-31 | restructuring | in_progress | 882 | 2001 | United States | CNA Financial — Standard Lines | USD 40 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $40.0M pretax recorded in FY2001 for 1,063 planned positions; $8.0M of accrual reduced in FY2002. $1.0M accrual remained at year-end. | ||
| 2002-12-31 | restructuring | in_progress | 126 | 2001 | United States | CNA Financial — Specialty Lines | USD 7 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $7.0M pretax recorded in FY2001 for 177 planned positions; $1.0M of accrual reduced in FY2002. $1.0M accrual remained at year-end. | ||
| 2002-12-31 | restructuring | completed | 15 | 2001 | United States / United Kingdom | CNA Financial — CNA Re | USD 6 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $6.0M pretax recorded in FY2001 for 33 planned positions. Remaining accrual reduced in FY2002 due to sale of CNA Re U.K. | ||
| 2002-12-31 | restructuring | in_progress | 82 | 2001 | United States | CNA Financial — Group Operations | USD 42 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $42.0M pretax recorded in FY2001 for 187 planned positions, including $35.0M write-off of deferred acquisition costs on variable life and annuity contracts. | ||
| 2002-12-31 | restructuring | in_progress | 144 | 2001 | United States | CNA Financial — Life Operations | USD 12 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $12.0M pretax recorded in FY2001 for 207 planned positions, including $9.0M impaired software assets. $1.0M of accrual reduced in FY2002. | ||
| 2002-12-31 | restructuring | in_progress | 157 | 2001 | United States / United Kingdom | CNA Financial — Other Insurance | USD 82 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cumulative through fiscal year-end 2002 since plan inception in 2001. Charge of $82.0M pretax recorded in FY2001 for 194 planned positions, including $73.0M lease termination and asset impairment. $22.0M of accrual reduced in FY2002; $36.0M accrual remained at year-end with ~$18.0M expected to be paid in 2003. | ||
| 2002-12-31 | restructuring | completed | 249 | 2001 | 2005-12-31 | Global | CNA Financial - IT Plan | USD 62 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | IT Plan initiated in 2001. 249 employees released through Dec 31, 2002. Remaining accrual expected to be paid through 2005. | |
| 2002-12-31 | restructuring | in_progress | 1,800 | 2001 | Global | CNA Financial - 2001 Plan | USD 189 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | 2001 Plan initiated in 2001. Cumulative releases through Dec 31, 2002: Standard Lines (882), Specialty Lines (126), CNA Re (15), Group Operations (82), Life Operations (144), Other Insurance (157). Total approx 1,800. | ||
| 2002-09-30 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | CNA Information Technology operations | USD 62 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Initial accrual of $62.0 million recorded in 2001, primarily severance and impaired asset write-offs; $10.0 million remained accrued at September 30, 2002. Employee termination payments continue through 2004 due to employment contract obligations. No employee counts disclosed. | |||
| 2002-09-30 | restructuring | in_progress | 2001-01-01 | CNA property and casualty segments, Life Operations, real estate consolidation | USD 189 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Initial accrual of $189.0 million recorded in 2001 covering employee termination benefits, lease terminations, impaired assets and other costs; $65.0 million remained accrued at September 30, 2002. No employee counts disclosed. | ||||
| 2002-09-30 | divestiture_reduction | completed | 2002-03-01 | 2002-03-31 | Chile | CNA Vida (CNA life operations in Chile) | USD 31 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Sale of CNA Holdings Limited to Consorcio Financiero S.A. completed March 2002; proceeds of $73.0 million and a $31.0 million loss from discontinued operations. Headcount not disclosed. | ||
| 2002-09-30 | divestiture_reduction | completed | 2002-04-01 | 2002-07-01 | United States | CNA Group Operations — Claims Administration Corporation and Mail Handlers Plan | USD 5 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Sale of Claims Administration Corporation and transfer of the Mail Handlers Plan to First Health Group effective July 1, 2002; $5.0 million pretax realized loss on sale plus $14.0 million pretax non-recurring fee income. Headcount not disclosed. | ||
| 2002-09-30 | divestiture_reduction | completed | 2002-07-15 | 2002-10-31 | United Kingdom | CNA Re U.K. (CNA Re Management Company Limited and CNA Reinsurance Company Limited) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Sale to Tawa U.K. Limited (Artemis Group) completed October 31, 2002 for $1, subject to completion adjustments; business underwritten since inception sold except certain risks retained by CCC. Headcount not disclosed. | |||
| 2002-09-30 | restructuring | in_progress | 2001-06-30 | 2004-12-31 | Information Technology | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | IT Plan accrual balance as of Sept 30, 2002. Employee termination payments continue through 2004. | |||
| 2002-09-30 | restructuring | in_progress | 2001-06-30 | Property and Casualty; Life Operations | USD 65 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Plan accrual balance as of Sept 30, 2002. Includes lease termination and employee termination costs. | ||||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Information Technology | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | IT Plan accrual balance at June 30, 2002. Employee termination payments continue through 2004. | |||
| 2002-06-30 | restructuring | in_progress | 2001-01-01 | Property-Casualty and Life Operations | USD 71 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Plan accrual balance at June 30, 2002. Includes lease termination and employee termination costs. | ||||
| 2002-03-31 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Information Technology | USD 6 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | IT Plan restructuring charge of $6.0 million pretax incurred in Q1 2001 for employee severance; remaining accrual of $10.0 million at March 31, 2002; no new charges in 2002; termination and benefit payments continue through 2004 due to employment contract obligations. | |||
| 2002-03-31 | restructuring | in_progress | 2001-01-01 | Property-Casualty segments and Life Operations | USD 152 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2001 Plan covered reduction in property-casualty strategic business units, discontinuation of variable life and annuity business, and real estate consolidation; remaining accrual of $87.0 million at March 31, 2002 (employee termination $32.0M, lease termination $50.0M, impaired asset charges $5.0M); no new charges in 2002. | ||||
| 2002-03-31 | divestiture_reduction | completed | 2002-03-31 | Chile | CNA Vida (life insurance) | USD 33 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Sale of CNA Holdings Limited (CNA Vida) common stock completed in March 2002 for proceeds of $73.0 million; after-tax and minority interest loss of $31.0 million from discontinued operations, comprising $32.8 million loss on sale offset by $1.8 million operating income. | |||
| 2002-03-31 | divestiture_reduction | in_progress | 2001-01-01 | 2002-12-31 | United Kingdom | CNA Re and CNA UniSource subsidiaries | USD 150 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | U.K. subsidiaries of CNA Re and CNA UniSource held for disposition; approximately $150.0 million impairment loss recorded in 2001; assets of approximately $2,700.0 million; sales expected to be completed in 2002, subject to regulatory approval for U.K. insurance subsidiaries. | ||
| 2002-03-31 | other | completed | 2002-03-31 | 2002-03-31 | CNA UniSource PEO business | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | CNA UniSource exited the professional employer organization business effective March 31, 2002, terminating substantially all existing PEO client contracts; obligations being run off in an orderly manner with additional operating losses anticipated for the remainder of 2002. | ||||
| 2002-03-31 | divestiture_reduction | completed | 2002-03-31 | Chile | CNA Financial — Life Operations (CNA Vida) | USD 31 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of CNA Holdings Limited (CNA Vida) life operations in Chile completed March 2002; loss of $31.0M after-tax and minority interest. No employee count disclosed. | |||
| 2002-03-31 | divestiture_reduction | completed | 2002-03-31 | United States | CNA Financial — CNA UniSource (PEO business) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA UniSource exited the PEO business as of March 31, 2002; substantially all PEO client contracts terminated. Payroll processing business (~$16M annual revenue) remains held for sale. No employee count disclosed. | ||||
| 2002-03-31 | restructuring | in_progress | 2004-12-31 | United States | CNA Financial — Information Technology | USD 6 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | IT Plan restructuring; $6.0M pretax severance charge incurred in Q1 2001. No charges in Q1 2002; $10.0M accrual remaining at March 31, 2002. Employee termination payments continue through 2004. No employee count disclosed. | |||
| 2002-03-31 | restructuring | in_progress | United States | CNA Financial — Property-Casualty segments and Life Operations | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | 2001 Plan restructuring covering SBU consolidation, Life Operations strategic changes, and real estate consolidation. No charges in Q1 2002; $87.0M accrual remaining at March 31, 2002 (employee termination $32.0M, lease termination $50.0M, impaired assets $5.0M). No employee count disclosed. | |||||
| 2002-03-31 | restructuring | in_progress | 2001-01-01 | 2004-12-31 | Information Technology | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | IT Plan accrual balance at March 31, 2002. Employee termination payments continue through 2004. | |||
| 2002-03-31 | restructuring | in_progress | 2001-01-01 | Property-Casualty and Life Operations | USD 87 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | 2001 Plan accrual balance at March 31, 2002. Includes employee termination, lease termination, and impaired asset charges. | ||||
| 2001-12-31 | restructuring | completed | 260 | 2001-06 | 2001-12-31 | Information Technology (enterprise-wide); charges recorded in Standard Lines, Specialty Lines, Life Operations and Other Insurance | USD 29 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | IT Plan approved June 2001. Workforce reduction of approximately 260 positions gross (249 net); approximately 249 employees, nearly all technology support staff, released through Dec 31, 2001. Total pretax plan charges $62.0 million ($29.0 million employee termination, $32.0 million asset impairment, $1.0 million other); $10.0 million of termination costs remained accrued at year-end, with approximately $8.0 million expected to be paid in 2002. Item 1 states CNA's two 2001 restructuring plans together included a reduction of approximately 2,100 positions. | ||
| 2001-12-31 | restructuring | in_progress | 1,063 | 2001-12-05 | 2002-03 | Standard Lines (Property-Casualty) | USD 40 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | 2001 Plan approved December 2001 and announced via Form 8-K on Dec 5, 2001. Planned reduction of 1,063 positions (gross and net); approximately 510 employees released through Dec 31, 2001, remainder expected to be released in Q1 2002. Charges comprise $27.0 million severance/outplacement and $13.0 million other salary costs. Program-wide, management anticipates approximately $100 million of cost savings in 2002. | ||
| 2001-12-31 | restructuring | in_progress | 177 | 2001-12-05 | 2002-03 | Specialty Lines | USD 7 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Planned reduction of 177 positions (gross and net); approximately 107 employees released through Dec 31, 2001 ($5.0 million severance/outplacement and $2.0 million other salary costs). | ||
| 2001-12-31 | restructuring | in_progress | 33 | 2001-12-05 | 2002-03 | CNA Re | USD 2 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Planned reduction of 33 positions (gross and net); no employees released through Dec 31, 2001. Segment also recorded $4.0 million of lease termination costs relating to its United Kingdom operations. | ||
| 2001-12-31 | restructuring | in_progress | 38 | 2001-12-05 | 2002-03 | Group Operations | USD 1 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Planned reduction of 38 positions (gross and net); no employees released through Dec 31, 2001. | ||
| 2001-12-31 | restructuring | in_progress | 356 | 2001-12-05 | 2002-03 | Life Operations | USD 9 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Planned reduction of 356 positions (gross and net); approximately 7 employees released through Dec 31, 2001. Segment also recorded $9.0 million of software impairment and a $35.0 million write-off of deferred acquisition costs on in-force variable life and annuity contracts tied to the plan's discontinuation of that business. | ||
| 2001-12-31 | restructuring | in_progress | 194 | 2001-12-05 | 2002-03 | Other Insurance | USD 9 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Planned reduction of 194 positions (gross and net); 129 employees released through Dec 31, 2001. Segment also recorded $73.0 million of lease termination and asset impairment charges for office closures and consolidation decisions not within the control of the other affected segments. Real estate consolidation expected to continue through 2002. | ||
| 2001-12-31 | plant_closure | in_progress | United States | Standard Lines — Property & Casualty field structure | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Field structure being streamlined from 169 branch locations to five regions comprising 68 branch locations in 63 cities. No headcount impact, charge, or timeline separately disclosed; may relate to the December 2001 restructuring's real estate consolidation. | |||||
| 2001-12-31 | divestiture_reduction | in_progress | 2001-06 | 2002 | United Kingdom (principal); certain other subsidiaries also held for sale | CNA Re (U.K. reinsurance subsidiaries) | USD 137 (millions) | other f5-10k / GLM-5.3-flash-HTML | CNA announced during Q2 2001 (exact date within quarter not disclosed) its intention to sell certain subsidiaries, principally the U.K. subsidiaries of CNA Re; CNA Re U.K. ceased new underwriting in Q3 2001. Sale subject to regulatory approval, expected completion in 2002. 2001 realized loss of $136.6 million after-tax and minority interest; the initial Q2 2001 impairment estimate of $278.4 million was reduced by $153.4 million in Q4 on updated impairment analyses. No headcount disclosed. | ||
| 2001-12-31 | restructuring | completed | 249 | 2001-06 | 2001-12-31 | United States | Information Technology / Technology and Operations Group | USD 62 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 260 positions planned gross, 249 net released by year-end; charge includes $32M impaired assets and $1M other costs beyond $29M employee termination | |
| 2001-12-31 | restructuring | in_progress | 1,063 | 2001-12 | 2002-03-31 | United States | Standard Lines (Property-Casualty) | USD 40 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 1,063 positions; approximately 510 released by 2001-12-31; charge entirely employee termination costs | |
| 2001-12-31 | restructuring | in_progress | 177 | 2001-12 | 2002-03-31 | United States | Specialty Lines (Property-Casualty) | USD 7 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 177 positions; approximately 107 released by 2001-12-31; charge entirely employee termination costs | |
| 2001-12-31 | restructuring | in_progress | 33 | 2001-12 | 2002-03-31 | United States / United Kingdom | CNA Re | USD 6 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 33 positions; none released by 2001-12-31; charge includes $4M UK lease termination costs | |
| 2001-12-31 | restructuring | in_progress | 38 | 2001-12 | 2002-03-31 | United States | Group Operations | USD 1 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 38 positions; none released by 2001-12-31; charge entirely employee termination costs | |
| 2001-12-31 | restructuring | in_progress | 356 | 2001-12 | 2002-03-31 | United States | Life Operations | USD 53 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 356 positions; approximately 7 released by 2001-12-31; charge includes $9M software impairment and $35M deferred acquisition cost write-off for discontinued variable life and annuity business | |
| 2001-12-31 | restructuring | in_progress | 194 | 2001-12 | 2002-03-31 | United States | Other Insurance | USD 82 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned reductions of 194 positions; 129 released by 2001-12-31; charge includes $52M lease termination and $21M asset impairment for office consolidation | |
| 2001-12-31 | restructuring | completed | 2,100 | 2001-06-01 | 2001-12-31 | Global | CNA Financial Corporation | USD 251 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Includes IT Plan (260 positions gross, 249 net released) and 2001 Plan (various segments). Total pretax charges $251 million. CNA announced reduction of 2,100 positions. | |
| 2001-09-30 | restructuring | in_progress | 260 | 2001-04-01 | Information Technology operations (CNA) | USD 62 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | IT Plan approved in Q2 2001; ~260 positions reduced (gross and net); charge includes ~$32.0M asset write-offs, ~$29.0M workforce reductions, ~$1.0M other costs. No Q3 charges; no significant additional charges expected. | |||
| 2001-09-30 | restructuring | in_progress | 2001-04-01 | Corporate and Other segment (CNA) | USD 37 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Component of the $62.0M IT Plan charge: $14.0M asset write-offs, $22.0M workforce reductions, $1.0M other costs. | ||||
| 2001-09-30 | restructuring | in_progress | 2001-04-01 | Life Operations (CNA) | USD 17 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Write-off of software abandoned pursuant to the technology roadmap. | ||||
| 2001-09-30 | restructuring | in_progress | 2001-04-01 | Agency Market Operations, Property and Casualty segment (CNA) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Almost entirely workforce reduction from centralization of IT resources. | ||||
| 2001-09-30 | restructuring | in_progress | 2001-04-01 | Risk Management, Property and Casualty segment (CNA) | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | $1.0M workforce reduction from IT centralization; $1.0M primarily hardware write-offs. | ||||
| 2001-09-30 | restructuring | announced | 2001-09-30 | 2001-12-31 | CNA (expense structure alignment) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | CNA evaluating a restructuring initiative to align expenses with expected premium volume; plan to be finalized in Q4 2001 with a restructuring charge expected before year-end; amount unknown and may be material. | ||||
| 2001-09-30 | restructuring | in_progress | 260 | 2001-06-30 | United States | Information Technology (CNA) | USD 62 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | IT Plan approved in Q2 2001; ~260 positions (gross and net) plus software/hardware write-offs. No charges recorded in Q3 2001. $13.0M accrual remaining at 9/30/01. | ||
| 2001-09-30 | restructuring | announced | 2001-09-30 | United States | CNA (enterprise-wide expense restructuring) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA evaluating an additional restructuring initiative to align expenses with premium volume; plan expected to be finalized in Q4 2001 with a charge before year-end. Amount and headcount impact unknown at filing date. | ||||
| 2001-09-30 | restructuring | in_progress | 260 | 2001-04-01 | Information Technology | USD 62 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | CNA IT Plan finalized in Q2 2001. Charge includes $29M workforce reductions, $32M asset write-offs. Accrual of $30M established; $17M paid by Sept 30, 2001. | |||
| 2001-06-30 | restructuring | in_progress | 260 | 2001-04-01 | Information Technology operations (enterprise-wide) | USD 62 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | CNA finalized IT Plan in Q2 2001; $62.0 pre-tax charge includes ~$32.0 asset write-offs (software/hardware), $29.0 workforce reductions (~260 positions gross and net), and $1.0 other costs. $30.0 accrual established; $6.0 paid through June 30, 2001, leaving $24.0 accrual. No significant additional charges expected; savings will fund new technology initiatives rather than reduce operating expense. | |||
| 2001-06-30 | restructuring | in_progress | 2001-04-01 | Other Insurance segment | USD 37 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Component of the IT Plan: $14.0 asset write-offs, $22.0 workforce reductions, $1.0 other costs. Majority of IT Plan costs borne by Other Insurance segment because future savings fund corporate IT initiatives. | ||||
| 2001-06-30 | restructuring | in_progress | 2001-04-01 | Life Operations | USD 17 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Represents write-off of software abandoned pursuant to the technology roadmap. | ||||
| 2001-06-30 | restructuring | in_progress | 2001-04-01 | Agency Market Operations (Property and Casualty segment) | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Costs related almost entirely to workforce reduction stemming from centralization of IT resources. | ||||
| 2001-06-30 | restructuring | in_progress | 2001-04-01 | Risk Management (Property and Casualty segment) | USD 2 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Approximately $1.0 related to workforce reduction from IT centralization; remaining $1.0 primarily hardware write-off. | ||||
| 2001-06-30 | restructuring | in_progress | 260 | 2001-06-30 | United States | Information Technology (CNA Financial) | USD 62 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | IT Plan finalized in Q2 2001; charge includes ~$32M asset write-offs, ~$29M workforce reductions, ~$1Other costs. Approximately 260 positions (gross and net). No further significant charges expected in any single future quarter. | ||
| 2001-06-30 | restructuring | in_progress | 260 | 2001-06-30 | Information Technology | USD 62 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | CNA finalized IT Plan; charges include $29.0M for workforce reductions of approx 260 positions (gross and net) and $32.0M for asset write-offs. | |||
| 2001-03-31 | restructuring | completed | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Approximately $2.0 million of accrued lease termination costs from prior restructuring were paid in Q1 2001. | ||||||
| 2000-12-31 | divestiture_reduction | completed | 2000-10-06 | 2000-12-31 | United States | CNA Financial — Life Reinsurance | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | CNA sold individual life reinsurance business to Munich American Reassurance Company effective December 31, 2000; no employee headcount impact disclosed | |||
| 2000-12-31 | restructuring | completed | 2,400 | 1998-08-01 | 1999-12-31 | Global | CNA Financial | USD 246 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Plan approved in August 1998. Gross reduction of 4,500 employees, resulting in planned net reduction of approximately 2,400 employees. Essentially all aspects completed by December 31, 1999. No restructuring-related charges incurred in 2000, but payments were made on amounts accrued. | |
| 2000-09-30 | restructuring | in_progress | 1998-08 | CNA - Agency Market Operations | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in first nine months of 1999 under CNA restructuring plan initiated August 1998; included $17.0 million severance and outplacement costs tied to a planned net workforce reduction, $9.0 million consulting, $10.0 million parallel processing, and ~$12.0 million relocation/facility charges. No employee count disclosed. No new charges in 2000; payments made against prior accrual. | ||||
| 2000-09-30 | restructuring | in_progress | 1998-08 | CNA - Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First nine months 1999 charges included ~$3.0 million parallel processing, ~$2.0 million employee severance and outplacement, ~$5.0 million consulting and facility charges; lease termination estimate reduced by $2.0 million. No employee count disclosed. | ||||
| 2000-09-30 | restructuring | in_progress | 1998-08 | CNA - Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First nine months 1999 charges related primarily to employee severance and other charges. No employee count disclosed. | ||||
| 2000-09-30 | restructuring | in_progress | 1998-08 | CNA - Other segments | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First nine months 1999 charges for other CNA segments related primarily to employee severance costs. No employee count disclosed. | ||||
| 2000-09-30 | divestiture_reduction | completed | 1999-10-01 | 1999-10-01 | United States | CNA Personal Insurance | other f5-10q / GLM-5.3-flash-fp4-HTML | On October 1, 1999 CNA's personal lines insurance business and related employees were transferred to The Allstate Corporation; headcount transferred not disclosed. CNA continues writing and reinsuring the business with Allstate pending Allstate's 2002 option to purchase five CNA insurance subsidiaries. | |||
| 2000-09-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Agency Market Operations, Risk Management, Group Operations, and other segments | USD 19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA restructuring plan initiated August 1998. No new charges in 2000; $19.0M accrual remaining at Sept 30, 2000 after $27.0M in payments during the nine months. Employee headcount affected not disclosed. | |||
| 2000-09-30 | divestiture_reduction | completed | 1999-10-01 | 1999-10-01 | United States | CNA Financial — Personal Insurance | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA personal lines insurance business and related employees transferred to Allstate on October 1, 1999. Number of employees transferred not disclosed. | |||
| 2000-09-30 | restructuring | in_progress | 1998-08-01 | CNA Financial | USD 27 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Payments charged against liability for CNA restructuring plan initiated in August 1998. Includes employee termination, lease termination, and business exit costs. No new charges incurred in 2000. | ||||
| 2000-09-30 | divestiture_reduction | completed | 1999-10-01 | 1999-10-01 | CNA Personal Insurance | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Transfer of CNA Personal Insurance business and related employees to The Allstate Corporation. | ||||
| 2000-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial | USD 46 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | CNA restructuring plan initiated August 1998; no new charges in 2000. Accrued costs of $46.0 million at December 31, 1999 (employee termination benefits $4.0, lease termination $27.0, business exit costs $15.0); $20.0 million paid in first half 2000, leaving $26.0 million accrued at June 30, 2000. No employee counts disclosed. | ||||
| 2000-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial | USD 20 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Payments charged against liability for CNA restructuring plan initiated in August 1998. Includes employee termination, lease termination, and business exit costs. No new charges incurred in 2000. | ||||
| 2000-03-31 | restructuring | completed | 1998-08-01 | CNA Financial | USD 35 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | CNA restructuring plan initiated August 1998; Q1 1999 charges of $35.0 million across Agency Market Operations (~$20.0), Risk Management (~$5.0), Group Operations (~$5.0) and other segments (~$5.0), primarily employee severance. No restructuring expenses incurred in Q1 2000; $12.0 million of accrued costs paid during the quarter, leaving $34.0 million accrued at March 31, 2000. Employee counts not disclosed. | ||||
| 2000-03-31 | restructuring | in_progress | 1998-08-01 | CNA Financial | USD 12 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Payments charged against liability during Q1 2000 related to CNA restructuring plan initiated in August 1998. Includes employee termination benefits, lease terminations, and business exit costs. No new restructuring expenses incurred in Q1 2000. | ||||
| 1999-12-31 | restructuring | completed | 1,000 | 1998-08-05 | 1999-12-31 | United States | CNA Financial — Agency Market Operations | USD 60 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 Period Costs of ~$60.0M; ~1,000 employees released during 1999, majority office support staff. Part of CNA's multi-year restructuring plan announced August 1998. | |
| 1999-12-31 | restructuring | completed | 136 | 1998-08-05 | 1999-12-31 | United States | CNA Financial — Risk Management | USD 10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 Period Costs of ~$10.0M; ~136 employees released during 1999, majority claims adjusters and office support staff. | |
| 1999-12-31 | restructuring | completed | 300 | 1998-08-05 | 1999-12-31 | United States | CNA Financial — Group Operations | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 1999 Period Costs of ~$5.0M; ~300 employees released during 1999, majority claims adjusters and sales support staff. | |
| 1999-12-31 | restructuring | completed | 600 | 1998-08-05 | 1999-12-31 | United States | CNA Financial — Other segments | USD 8 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 600 employees is cumulative through fiscal year-end 1999 (270 through 1998). 1999 Period Costs of ~$8.0M. Majority underwriters and office support staff. | |
| 1999-12-31 | divestiture_reduction | completed | 1999-10-01 | United States | CNA Financial — Personal Insurance | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Personal lines insurance business and related employees transferred to The Allstate Corporation. No specific headcount disclosed. Announcement date not stated in filing. | ||||
| 1999-12-31 | restructuring | completed | 2,400 | 1998-08-05 | 1999-12-31 | United States | CNA Financial | USD 46 (millions) | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Plan announced Aug 1998. Gross reduction of 4,500 employees resulting in net reduction of 2,400. Essentially all aspects completed by Dec 31, 1999. $46.2M charge in 1999. | |
| 1999-12-31 | divestiture_reduction | completed | 1999-10-01 | 1999-10-01 | United States | CNA Financial - Personal Insurance | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Transfer of substantially all personal lines insurance business and related employees to Allstate. | |||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Property and Casualty Agency Market Operations | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Nine-month 1999 charges include $17.0M employee severance and outplacement for planned net workforce reduction, $9.0M consulting, $10.0M parallel processing, and ~$12.0M relocation and facility charges | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Property and Casualty Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Includes ~$3.0M parallel processing, ~$2.0M employee severance and outplacement, ~$5.0M consulting and facility charges; lease termination cost estimate reduced by $2.0M | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges related to employee severance and other charges | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Other segments | USD 9 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Primarily employee termination related costs | ||||
| 1999-09-30 | divestiture_reduction | completed | 1999-10-01 | 1999-10-01 | CNA Financial - Personal lines insurance business | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | CNA transferred personal lines business to Allstate with ~$1.2 billion of policy liabilities assumed; CNA received $140.0 million cash; no headcount figures disclosed | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Agency Market Operations | USD 48 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes $17.0M severance/outplacement for planned net workforce reduction, $9.0M consulting, $10.0M parallel processing, $12.0M relocation/facility charges. No employee count disclosed. | |||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes ~$3.0M parallel processing, ~$2.0M severance/outplacement, ~$5.0M other; offset by $2.0M lease termination reduction. No employee count disclosed. | |||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Employee severance and other charges. No employee count disclosed. | |||
| 1999-09-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Other segments | USD 9 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Primarily employee termination related costs. No employee count disclosed. | |||
| 1999-09-30 | divestiture_reduction | completed | 1999-10-01 | United States | CNA Financial — Personal lines insurance business | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA completed transaction with Allstate on 1999-10-01 transferring ~$1,200.0M of policy liabilities; received $140.0M cash. No headcount impact disclosed. | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08 | CNA Property and Casualty Agency Market Operations | USD 48 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $17.0 million in employee severance and outplacement costs related to planned net workforce reduction. | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08 | CNA Property and Casualty Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes approximately $2.0 million in employee severance and outplacement costs. | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08 | CNA Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges related to employee severance and other charges. | ||||
| 1999-09-30 | restructuring | in_progress | 1998-08 | CNA Other Segments | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Primarily for employee termination related costs. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Property and Casualty Agency Market Operations | USD 37 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Includes employee severance and outplacement costs of $15.0 million tied to a planned net workforce reduction, consulting costs of $5.0 million, parallel processing charges of $4.0 million, and other relocation and facility charges of approximately $13.0 million. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Property and Casualty Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Includes parallel processing costs of approximately $3.0 million, employee severance and outplacement costs of approximately $2.0 million, and consulting and facility charges of approximately $3.0 million. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges relate to employee severance and other costs. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | CNA Financial - Other segments | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Primarily employee termination related costs. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Property and Casualty Agency Market Operations | USD 37 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes $15.0M employee severance and outplacement for planned net workforce reduction, $5.0M consulting, $4.0M parallel processing, $13.0M other relocation/facility charges. No employee count disclosed. | |||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Property and Casualty Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes ~$3.0M parallel processing, ~$2.0M employee severance and outplacement, ~$3.0M other consulting/facility charges. No employee count disclosed. | |||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Employee severance and other charges. No employee count disclosed. | |||
| 1999-06-30 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Other segments | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Primarily employee termination related costs. No employee count disclosed. | |||
| 1999-06-30 | divestiture_reduction | announced | 1999-06-09 | 1999-12-31 | United States | CNA Financial — Personal Lines business | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA announced sale of personal lines business to Allstate via reinsurance agreements. No headcount impact disclosed; personal lines surplus remains with CNA. | |||
| 1999-06-30 | restructuring | in_progress | 1998-08 | CNA Property and Casualty Agency Market Operations | USD 37 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $15.0 million for employee severance and outplacement costs related to planned net workforce reduction. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08 | CNA Property and Casualty Risk Management | USD 8 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes approximately $2.0 million for employee severance and outplacement costs. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08 | CNA Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges relate to employee severance and other charges. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-08 | CNA Other Segments | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges were primarily for employee termination related costs. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Financial - Agency Market Operations | USD 21 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Includes $10.0 million employee-related costs for planned net workforce reduction, $1.0 million consulting, $3.0 million parallel processing, and ~$7.0 million relocation and facility charges. Part of CNA restructuring plan initiated August 1998. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Financial - Risk Management | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Includes ~$2.0 million consulting costs and ~$3.0 million parallel processing and other charges. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Financial - Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges relate to employee-related costs. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Financial - Other segments | USD 4 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges related primarily to employee-related costs. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Property and Casualty Agency Market Operations | USD 21 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes $10.0M employee-related costs for planned net workforce reduction, $1.0M consulting, $3.0M parallel processing, and ~$7.0M relocation/facility charges. No employee count disclosed. | |||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Property and Casualty Risk Management | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes ~$2.0M consulting costs and ~$3.0M parallel processing and other charges. No employee count disclosed. | |||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Employee-related costs. No employee count disclosed. | |||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | United States | CNA Financial — Other segments | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Primarily employee-related costs. No employee count disclosed. | |||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Property and Casualty Agency Market Operations | USD 21 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $10.0 million in employee-related costs for planned net workforce reduction. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Property and Casualty Risk Management | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges include consulting and parallel processing costs; no specific employee count disclosed. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | CNA Group Operations | USD 5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges relate primarily to employee-related costs; no specific employee count disclosed. | ||||
| 1999-03-31 | restructuring | in_progress | 1998-08-01 | Other CNA Segments | USD 4 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges related primarily to employee-related costs; no specific employee count disclosed. | ||||
| 1998-12-31 | restructuring | in_progress | 1,200 | 1998-08 | 1999-12-31 | United States | CNA Financial — Property and Casualty Agency Market Operations | USD 96 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned net workforce reduction of ~1,200. Total charges include $34M severance/outplacement, $29M lease termination, $12M benefit plan costs, $7M parallel processing, $5M asset writedowns, $9M other. 364 employees released through year-end at cost of $8M. | |
| 1998-12-31 | restructuring | in_progress | 200 | 1998-08 | 1999-12-31 | United States | CNA Financial — Property and Casualty Risk Management | USD 88 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Net workforce reduction of ~200. Charges include $64M asset writedowns (including $59M goodwill), $10M severance, $8M lease termination, $6M other. 152 employees released through year-end at cost of $2M. | |
| 1998-12-31 | restructuring | in_progress | 400 | 1998-08 | 1999-12-31 | United States | CNA Financial — Group Operations | USD 39 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned net workforce reduction of ~400. Charges include $29M business exit costs (Employer Health and Affinity lines), $7M severance, $3M lease termination. 56 employees released through year-end at cost of $1M. | |
| 1998-12-31 | restructuring | in_progress | 600 | 1998-08 | 1999-12-31 | United States | CNA Financial — Other segments | USD 23 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned net workforce reduction of 600. Charges include $13M severance/benefits, $4M asset writedowns, $3M business exit, $3M facility closures. 270 employees released through year-end at cost of $3M. | |
| 1998-12-31 | restructuring | in_progress | 2,400 | 1998-09-30 | 1999-12-31 | Global | CNA Financial | USD 190 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Plan announced in Q3 1998. Gross reduction of 4,500 employees, resulting in planned net reduction of approx 2,400. Charges include terminations, lease abandonments, asset writedowns. | |
| 1998-12-31 | restructuring | completed | 1,200 | 1998-09-30 | 1999-12-31 | Global | CNA Financial - Agency Market Operations | USD 96 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Planned net reduction in workforce of approx 1,200 employees. Through Dec 31, 1998, approx 364 employees released. | |
| 1998-12-31 | restructuring | completed | 200 | 1998-09-30 | 1999-12-31 | Global | CNA Financial - Risk Management | USD 88 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Net reduction in workforce of approx 200 employees. Through Dec 31, 1998, approx 152 employees released. | |
| 1998-12-31 | restructuring | completed | 400 | 1998-09-30 | 1999-12-31 | Global | CNA Financial - Group Operations | USD 39 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Planned net reduction in workforce of approx 400 employees. Through Dec 31, 1998, approx 56 employees released. | |
| 1998-12-31 | restructuring | completed | 600 | 1998-09-30 | 1999-12-31 | Global | CNA Financial - Other Segments | USD 23 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Planned net reductions of 600 employees. Through Dec 31, 1998, approx 270 employees released. | |
| 1998-09-30 | restructuring | in_progress | 4,500 | 1998-08-05 | United States | CNA (insurance) | USD 220 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Gross reduction of approximately 4,500 employees; net reduction expected to be approximately 2,400 upon completion. Charges include employee termination benefits ($72.0M), asset writedowns ($74.0M), lease abandonment ($42.0M) and losses from exiting businesses ($32.0M). Additional $125.0-$175.0M in charges expected over next 12-15 months. | ||
| 1998-09-30 | restructuring | in_progress | 200 | 1998-08-05 | United States | CNA Risk Management | USD 79 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of claim offices in ~36 market territories (~$8.0M lease abandonment), ~$7.0M termination benefits, ~$64.0M fixed and intangible asset writedowns. | ||
| 1998-09-30 | restructuring | in_progress | 1,200 | 1998-08-05 | United States | CNA Commercial Insurance | USD 57 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Consolidation of four regional offices into two zone offices and reduction of claim processing offices from 24 to 8 (~$21.0M lease abandonment); ~$31.0M termination benefits; ~$5.0M fixed asset writedowns. | ||
| 1998-09-30 | restructuring | in_progress | 400 | 1998-08-05 | United States | CNA Group Insurance (exit of Employer Health and Affinity lines) | USD 38 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Charges primarily relate to exiting Employer Health and Affinity Health lines of business, including termination benefit costs. | ||
| 1998-09-30 | restructuring | in_progress | 1998-08-05 | United States | CNA other departments | USD 25 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Relates primarily to closing leased facilities and termination benefits for workforce reductions; an additional ~$21.0M in incremental benefit plan expenses was recorded. | |||
| 1998-09-30 | restructuring | in_progress | 200 | 1998-08-05 | United States | Risk Management | USD 79 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Net workforce reduction of approximately 200 employees; charges include claim office consolidation across ~36 territories, termination benefits, and asset writedowns. Part of CNA's broader plan to reduce current workforce by ~4,500 (net ~2,400). | ||
| 1998-09-30 | restructuring | in_progress | 1,200 | 1998-08-05 | United States | Commercial Insurance | USD 57 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Net workforce reduction of approximately 1,200 employees; includes consolidation of four regional offices into two zone offices and reduction of claim processing offices from 24 to 8. | ||
| 1998-09-30 | restructuring | in_progress | 400 | 1998-08-05 | United States | Group Insurance | USD 38 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Net workforce reduction of approximately 400 employees; primarily related to exiting the Employer Health and Affinity Health lines of business. | ||
| 1998-09-30 | restructuring | in_progress | 1998-08-05 | United States | Corporate / Other Departments | USD 46 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Includes ~$25.0M for other departments (facility closures and termination benefits) plus ~$21.0M incremental benefit plan expenses. Employee count not separately disclosed for this component. Total program charges ~$220.0M with additional $125–175M expected over next 12–15 months. | |||
| 1998-09-30 | restructuring | in_progress | 4,500 | 1998-09-30 | Global | CNA Financial Corporation | USD 220 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan finalized in Q3 1998. Includes net reduction of approx. 2,400 employees upon completion. Charges include $72M termination benefits, $74M asset writedowns, $42M lease abandonment, $32M business exit losses. | ||
| 1998-09-30 | restructuring | in_progress | 200 | 1998-09-30 | Global | CNA Risk Management | USD 79 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Subset of CNA restructuring. Consolidation of claim offices in 36 territories. $8M lease abandonment, $7M termination benefits, $64M asset writedowns. | ||
| 1998-09-30 | restructuring | in_progress | 1,200 | 1998-09-30 | Global | CNA Commercial Insurance | USD 57 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Subset of CNA restructuring. Consolidation of regional offices and claim processing centers. $21M lease abandonment, $31M termination benefits, $5M asset writedowns. | ||
| 1998-09-30 | restructuring | in_progress | 400 | 1998-09-30 | Global | CNA Group Insurance | USD 38 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Subset of CNA restructuring. Exiting Employer Health and Affinity lines. Termination benefits for workforce reduction. | ||
| 1998-06-30 | restructuring | announced | 10% | 1998-08-05 | United States | CNA Financial Corporation — commercial insurance, risk management, corporate support areas | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | CNA announced a business reassessment involving facility closures, consolidation of processing locations, and workforce reduction. CNA's current workforce of approximately 24,000 employees is expected to be reduced by approximately 10%. Estimated pre-tax restructuring charge of $100.0 to $140.0 million plus $200.0 to $260.0 million of transition costs over 12 to 18 months; third-quarter pre-tax earnings impact estimated at $175.0 to $260.0 million. Anticipated annualized savings of $300.0 to $350.0 million and roughly a 2-point expense ratio reduction. | |||
| 1998-06-30 | restructuring | announced | 10% | 1998-08-05 | 1998-09-30 | United States | CNA Insurance (commercial insurance, risk management, corporate support) | USD 100 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | CNA announced a reassessment of its businesses involving reorganization of multiple businesses and corporate support areas. Workforce of approximately 24,000 to be reduced by approximately 10%. Pre-tax restructuring charge estimated at $100–140 million, plus $200–260 million in transition costs over 12–18 months. Plan expected to be finalized by end of Q3 1998. Includes consolidating four regional offices into two, reducing claim processing offices from 24 to 8, and centralizing policy processing in Orlando, FL. | |
| 1998-06-30 | restructuring | announced | 10% | 1998-08-05 | 1999-12-31 | Global | Insurance (CNA) | USD 175 (millions) | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | CNA announced reassessment involving reorganization, facility closures, and workforce reduction of approximately 10%. Pre-tax impact on third-quarter earnings estimated at $175.0 to $260.0 million. | |
| 1996-12-31 | acquisition_addition | completed | 1996-04-29 | 1996-04-29 | International | Diamond Offshore Drilling | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Diamond Offshore acquired Arethusa (Off-Shore) Limited; fleet of 11 owned rigs plus 2 bareboat-chartered rigs. Employee headcount added not disclosed. | |||
| 1996-12-31 | divestiture_reduction | completed | 1996-12-31 | 1996-12-31 | United States | Diamond Offshore Drilling — land drilling | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Diamond Offshore exited the land drilling business with sale of land rigs and equipment for approximately $26 million. Employee headcount affected not disclosed. | |||
| 1995-12-31 | acquisition_addition | completed | 1994-12-06 | 1995-05-10 | United States | Property/Casualty Insurance | USD 1,100 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | CNA acquired all outstanding shares of The Continental Corporation for approximately $1.1 billion; no headcount added through the acquisition is disclosed. | ||
| 1995-12-31 | divestiture_reduction | completed | 1995-11-24 | United States | Investments (CBS Inc. stake) | USD 579 (millions) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Loews sold its CBS shares upon Westinghouse's acquisition of CBS; this was an equity investment disposition, not an operating divestiture. No workforce impact disclosed. |