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Revenue from Contracts with Customers | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 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 12:
| Three Months Ended | Nine Months Ended |  |
| September 30, | September 30, |  |
| 2025 |  | 2024 | 2025 |  | 2024 |  |
(In millions) |  |  |  |  |  |  |  |
Non-insurance warranty – CNA Financial | $ | 393 |  |  | $ | 401 |  | $ | 1,188 |  |  | $ | 1,212 |  |  |
Transportation and storage of natural gas and NGLs and ethane supply and transportation services – Boardwalk Pipelines | $ | 530 |  |  | $ | 463 |  | $ | 1,662 |  |  | $ | 1,431 |  |  |
Lodging and related services – Loews Hotels & Co | 202 |  |  | 220 |  | 685 |  |  | 673 |  |  |
Total revenues from contracts with customers | 732 |  |  | 683 |  | 2,347 |  |  | 2,104 |  |  |
Other revenues | 27 |  |  | 23 |  | 79 |  |  | 74 |  |  |
Operating revenues and other | $ | 759 |  |  | $ | 706 |  | $ | 2,426 |  |  | $ | 2,178 |  |  |
Receivables from contracts with customers – As of September 30, 2025 and December 31, 2024, receivables from contracts with customers were approximately $226 million and $240 million and are included within Receivables on the Consolidated Condensed Balance Sheets. Deferred revenue – As of September 30, 2025 and December 31, 2024, deferred revenue resulting from contracts with customers were approximately $4.4 billion and $4.6 billion and are reported as Deferred non-insurance warranty revenue and within Other liabilities on the Consolidated Condensed Balance Sheets. Approximately $1.1 billion of revenues recognized during each of the nine months ended September 30, 2025 and 2024 were included in deferred revenue as of December 31, 2024 and 2023. Performance obligations – As of September 30, 2025, approximately $19.8 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 services for natural gas and natural gas liquids, olefins and other hydrocarbons (“NGLs”) and certain ethane supply contracts at Boardwalk Pipelines and non-insurance warranty revenue at CNA. Included in the balance are $5.7 billion of revenues that are anticipated under executed precedent transportation agreements associated with Boardwalk Pipelines’ growth projects. In October 2025, Boardwalk Pipelines executed a precedent transportation agreement that will add an anticipated $3.8 billion of revenues to its o utstanding performance obligations, subject to certain conditions precedent. Approximately $0.9 billion of the outstanding performance obligations will be recognized during the remaining three months of 2025, $2.8 billion in 2026 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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