The Dow Chemical Company provides chemical, plastic, and agricultural products and services to various consumer markets. The following excerpt is taken from the disclosure notes of Dow's 2013 annual report: In total, the Company's accrued liability for probable environmental remediation and restoration costs was $734 million at December 31,2013 , compared with $766 million at the end of 2012. This is management's best estimate of the costs for remediation and restoration with respect to environmental matters for which the Company has accrued liabilities, although it is reasonably possible that the ultimate cost with respect to these particular matters could range up to approximately two and a half times that amount. Required: Does the excerpt describe a loss contingency? Yes No Under what conditions would Dow accrue such a contingency? Reasonably estimable Probable Probable and reasonably estimable Probable or reasonably estimable