XML 29 R18.htm IDEA: XBRL DOCUMENT v3.23.2
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2023
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,
2023202220232022
(In millions)  
   
Non-insurance warranty – CNA Financial$407 $392 $814 $774 
 
Transportation and storage of natural gas and NGLs and other services – Boardwalk Pipelines$350 $315 $736 $684 
Lodging and related services – Loews Hotels & Co202 190 387 336 
Total revenues from contracts with customers552 505 1,123 1,020 
Other revenues22 29 45 54 
Operating revenues and other$574 $534 $1,168 $1,074 

Receivables from contracts with customers – As of June 30, 2023 and December 31, 2022, receivables from contracts with customers were approximately $145 million and $168 million and are included within Receivables on the Consolidated Condensed Balance Sheets.

Deferred revenue – As of June 30, 2023 and December 31, 2022, deferred revenue resulting from contracts with customers was approximately $4.8 billion and is reported as Deferred non-insurance warranty revenue and within Other liabilities on the Consolidated Condensed Balance Sheets. Approximately $660 million and $723 million of revenues recognized during the six months ended June 30, 2023 and 2022 were included in deferred revenue as of December 31, 2022 and 2021.

Performance obligations – As of June 30, 2023, approximately $13.7 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 and hydrocarbons (“NGLs”) at Boardwalk Pipelines and non-insurance warranty revenue at CNA. Approximately $1.6 billion will be recognized during the remaining six months of 2023, $2.4 billion in 2024 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control.