Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 102

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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2023.Performance obligations – As of June 30, 2025, approximately $19.0 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. Approximately $1.6 billion will be recognized during the remaining six months of 2025, $2.7 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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8. Benefit Plans

Several non-contributory defined benefit plans and postretirement benefit plans cover eligible employees and retirees.The following tables present the components of net periodic (benefit) cost for the defined benefit plans:Pension BenefitsThree Months EndedSix Months EndedJune 30,June 30,2025202420252024(In millions)Service cost$1 $1 Interest cost$11 $25 22 49 Expected return on plan assets(15)(30)(30)(59)Amortization of unrecognized net loss2 8 4 15 Settlements1 1 Net periodic (benefit) cost$(1)$3 $(2)$6 Other Postretirement BenefitsThree Months EndedSix Months EndedJune 30,June 30,2025202420252024(In millions)Interest cost$1 $1 Expected return on plan assets(1)(1)Net periodic benefit$— $— $— $— 

9. Legal Proceedings

Loews Hotels & CoOn February 20, 2024, Jeanette Portillo filed a putative class action against Loews Hotels Holdings Corporation and other defendants in the United States District Court for the Western District of Washington. On March 1, 2024, Ryan Segal filed a putative class action against Loews Hotels Holdings Corporation and other defendants in the United States District Court for the Northern District of Illinois. Both suits assert antitrust claims against defendants under the Sherman Act, 15 U.S.C. § 1. Defendants jointly filed motions to dismiss the complaints in Portillo and Segal on May 17, 2024 and June 24, 2024, respectively. The court has not issued a decision on the motion to dismiss in Portillo