Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 106

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 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 outstanding 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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9. 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 EndedNine Months EndedSeptember 30,September 30,2025202420252024(In millions)Service cost$1 $1 $2 Interest cost$12 23 34 72 Expected return on plan assets(16)(29)(46)(88)Amortization of unrecognized net loss2 7 6 22 Settlements4 1 4 Net periodic (benefit) cost$(2)$6 $(4)$12 Other Postretirement BenefitsThree Months EndedNine Months EndedSeptember 30,September 30,2025202420252024(In millions)Interest cost$1 $1 Expected return on plan assets$(1)$(1)(2)(2)Amortization of unrecognized net loss1 1 Net periodic benefit$(1)$— $(1)$— 

10. Legal Proceedings

Loews Hotels & CoOn February 20, 2024, Jeanette Portillo and other plaintiffs 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