Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 29

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 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 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