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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 9. Revenue from Contracts with Customers Disaggregation of revenues – Revenue from contracts with customers, other than insurance premiums, is reported as Non-insurance warranty revenue and within Operating revenues and other on the Consolidated Condensed Statements of Income. The following table presents revenues from contracts with customers disaggregated by revenue type along with the reportable segment and a reconciliation to Operating revenues and other as reported in Note 13:
|  | Three Months Ended |  |  | Six Months Ended |
| June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |
Non-insurance warranty services – CNA Financial |  | $ | 285 |  |  | $ | 248 |  |  | $ | 566 |  |  | $ | 486 |
Contract drilling – Diamond Offshore |  |  | 216 |  |  |  | 268 |  |  |  | 450 |  |  |  | 564 |
Transportation and storage of natural gas and NGLs and other services – Boardwalk Pipelines |  |  | 321 |  |  |  | 281 |  |  |  | 660 |  |  |  | 612 |
Lodging and related services – Loews Hotels & Co |  |  | 185 |  |  |  | 200 |  |  |  | 365 |  |  |  | 383 |
Rigid plastic packaging and recycled resin – Corporate |  |  | 223 |  |  |  | 216 |  |  |  | 437 |  |  |  | 429 |
Total revenues from contracts with customers |  |  | 945 |  |  |  | 965 |  |  |  | 1,912 |  |  |  | 1,988 |
Other revenues |  |  | 16 |  |  |  | 14 |  |  |  | 34 |  |  |  | 34 |
Operating revenues and other |  | $ | 961 |  |  | $ | 979 |  |  | $ | 1,946 |  |  | $ | 2,022 |
Receivables from contracts with customers – As of June 30, 2019 and December 31, 2018, receivables from contracts with customers were approximately $ 400 million and $ 434 million and are included within Receivables on the Consolidated Condensed Balance Sheets. Deferred revenue – As of June 30, 2019 and December 31, 2018, deferred revenue resulting from contracts with customers was approximately $ 3.7 billion and $ 3.5 billion and is primarily related to Deferred non-insurance warranty revenue as reported on the Consolidated Condensed Balance Sheets. Approximately $ 533 million and $ 473 million of revenues recognized during the six months ended June 30, 2019 and 2018 were included in deferred revenue as of December 31, 2018 and 2017. Performance obligations – As of June 30, 2019, approximately $13.1 billion of estimated operating revenues is expected to be recognized in the future related to outstanding performance obligations. The balance relates primarily to revenues for transportation and storage of natural gas and NGLs at Boardwalk Pipelines and non-insurance warranty services at CNA. Approximately $1.1 billion will be recognized during the remaining six months of 2019, $2.0 billion in 2020 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control. The Company has elected to exclude variable consideration related entirely to wholly unsatisfied performance obligations and contracts where revenue is recognized based upon the right to invoice the customer. Therefore, the estimated operating revenues exclude contract drilling dayrate revenue at Diamond Offshore and interruptible service contract revenue at Boardwalk Pipelines.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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