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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
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 13:

Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
(In millions)
Non-insurance warranty – CNA Financial$367 $398 $741 $795 
Transportation and storage of natural gas and NGLs and ethane supply and transportation services – Boardwalk Pipelines$562 $523 $1,174 $1,132 
Lodging and related services – Loews Hotels & Co266 246 512 483 
Total revenues from contracts with customers828 769 1,686 1,615 
Other revenues26 26 55 52 
Operating revenues and other$854 $795 $1,741 $1,667 

Receivables from contracts with customers – As of June 30, 2026 and December 31, 2025, receivables from contracts with customers were approximately $246 million and $252 million and are included within Receivables on the Consolidated Condensed Balance Sheets.

Deferred revenue – As of June 30, 2026 and December 31, 2025, deferred revenue resulting from contracts with customers was approximately $3.9 billion and $4.2 billion and is reported as Deferred non-insurance warranty revenue and within Other liabilities on the Consolidated Condensed Balance Sheets. Approximately $654 million and $681 million of revenues recognized during the six months ended June 30, 2026 and 2025 were included in deferred revenue as of December 31, 2025 and 2024.

Performance obligations – As of June 30, 2026, approximately $23.5 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 $9.4 billion of revenues that are anticipated under executed precedent or long-term firm transportation agreements associated with Boardwalk Pipelines’ growth projects. Approximately $1.6 billion is expected to be recognized during the remaining six months of 2026, $2.6 billion in 2027 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control.