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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2021
Revenue from Contracts with Customers [Abstract]  
Revenue from Contracts with Customers
7. 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 Operations. 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 11:

  
Three Months Ended
June 30,
    
Six Months Ended
June 30
  
   
2021
    
2020
    
2021
    
2020
  
(In millions)
                        
                         
Non-insurance warranty – CNA Financial
  
$
359
    
$
308
    
$
697
    
$
609
  
                                 
Transportation and storage of natural gas and NGLs and other services – Boardwalk Pipelines
    
302
      
286
      
663
      
618
  
Lodging and related services – Loews Hotels & Co
    
94
      
16
      
150
      
158
  
Rigid plastic packaging and recycled resin – Corporate (a)
            
244
      
280
      
500
  
Contract drilling – Diamond Offshore (b)
            
71
              
300
  
Total revenues from contracts with customers
    
396
      
617
      
1,093
      
1,576
  
Other revenues
    
19
      
33
      
37
      
56
  
Operating revenues and other
  
$
415
    
$
650
    
$
1,130
    
$
1,632
  

(a)
Revenues presented for Corporate reflect the periods prior to the deconsolidation of Altium Packaging in the second quarter of 2021. See Note 2 for further discussion.
(b)
Revenues presented for Diamond Offshore reflect the periods prior to its deconsolidation. in the second quarter of 2020. See Note 2 for further discussion.


Receivables from contracts with customers – As of June 30, 2021 and December 31, 2020, receivables from contracts with customers were approximately $106 million and $246 million and are included within Receivables on the Consolidated Condensed Balance Sheets.


Deferred revenue – As of June 30, 2021 and December 31, 2020, deferred revenue resulting from contracts with customers was approximately $4.4 billion and $4.1 billion and is reported as Deferred non-insurance warranty revenue and within Other liabilities on the Consolidated Condensed Balance Sheets. Approximately $624 million and $574 million of revenues recognized during the six months ended June 30, 2021 and 2020 were included in deferred revenue as of December 31, 2020 and 2019.


Performance obligations – As of June 30, 2021, approximately $13.3 billion of estimated operating revenues is expected to be recognized in the future related to outstanding performance obligations. The balance relates primarily to transportation and storage of natural gas and natural gas liquids and hydrocarbons (“NGLs”) services and non-insurance warranty revenue. Approximately $1.2 billion will be recognized during the remaining six months of 2021, $2.2 billion in 2022 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control.