XML 67 R46.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Revenue Recognition (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables present our revenues disaggregated by segment, revenue source and type of revenue for each revenue source:
|  | Year Ended December 31, 2024
|  | Natural Gas Pipelines |  | Products Pipelines |  | Terminals |  | CO 2 |  | Corporate and Eliminations |  | Total
|  | (In millions)
Revenues from contracts with customers(a) |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  |  |  |  |  |  |  |  |  |  |
Firm services(b) |  | $ | 3,893 |  |  | $ | 220 |  |  | $ | 846 |  |  | $ | 2 |  |  | $ | (4) |  |  | $ | 4,957 |
Fee-based services |  | 1,044 |  |  | 1,059 |  |  | 460 |  |  | 41 |  |  | (7) |  |  | 2,597 |
Total services |  | 4,937 |  |  | 1,279 |  |  | 1,306 |  |  | 43 |  |  | (11) |  |  | 7,554 |
Commodity sales |  |  |  |  |  |  |  |  |  |  |  |
Natural gas sales |  | 2,303 |  |  | — |  |  | — |  |  | 43 |  |  | (6) |  |  | 2,340 |
Product sales |  | 965 |  |  | 1,444 |  |  | 50 |  |  | 1,031 |  |  | (4) |  |  | 3,486 |
Other sales |  | 20 |  |  | — |  |  | — |  |  | 85 |  |  | (2) |  |  | 103 |
Total commodity sales |  | 3,288 |  |  | 1,444 |  |  | 50 |  |  | 1,159 |  |  | (12) |  |  | 5,929 |
Total revenues from contracts with customers |  | 8,225 |  |  | 2,723 |  |  | 1,356 |  |  | 1,202 |  |  | (23) |  |  | 13,483 |
Other revenues(c) |  |  |  |  |  |  |  |  |  |  |  |
Leasing services(d) |  | 459 |  |  | 209 |  |  | 666 |  |  | 66 |  |  | — |  |  | 1,400 |
Derivatives adjustments on commodity sales |  | 113 |  |  | (1) |  |  | — |  |  | (85) |  |  | — |  |  | 27 |
Other |  | 145 |  |  | 24 |  |  | — |  |  | 21 |  |  | — |  |  | 190 |
Total other revenues |  | 717 |  |  | 232 |  |  | 666 |  |  | 2 |  |  | — |  |  | 1,617 |
Total revenues |  | $ | 8,942 |  |  | $ | 2,955 |  |  | $ | 2,022 |  |  | $ | 1,204 |  |  | $ | (23) |  |  | $ | 15,100 |
|  | Year Ended December 31, 2023
|  | Natural Gas Pipelines |  | Products Pipelines |  | Terminals |  | CO 2 |  | Corporate and Eliminations |  | Total
|  | (In millions)
Revenues from contracts with customers(a) |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  |  |  |  |  |  |  |  |  |  |
Firm services(b) |  | $ | 3,543 |  |  | $ | 171 |  |  | $ | 819 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 4,537 |
Fee-based services |  | 1,008 |  |  | 1,036 |  |  | 427 |  |  | 40 |  |  | (9) |  |  | 2,502 |
Total services |  | 4,551 |  |  | 1,207 |  |  | 1,246 |  |  | 41 |  |  | (6) |  |  | 7,039 |
Commodity sales |  |  |  |  |  |  |  |  |  |  |  |
Natural gas sales |  | 2,631 |  |  | — |  |  | — |  |  | 43 |  |  | (8) |  |  | 2,666 |
Product sales |  | 1,110 |  |  | 1,635 |  |  | 33 |  |  | 1,114 |  |  | (8) |  |  | 3,884 |
Other sales |  | 20 |  |  | — |  |  | — |  |  | 42 |  |  | (4) |  |  | 58 |
Total commodity sales |  | 3,761 |  |  | 1,635 |  |  | 33 |  |  | 1,199 |  |  | (20) |  |  | 6,608 |
Total revenues from contracts with customers |  | 8,312 |  |  | 2,842 |  |  | 1,279 |  |  | 1,240 |  |  | (26) |  |  | 13,647 |
Other revenues(c) |  |  |  |  |  |  |  |  |  |  |  |
Leasing services(d) |  | 475 |  |  | 200 |  |  | 638 |  |  | 55 |  |  | — |  |  | 1,368 |
Derivatives adjustments on commodity sales |  | 285 |  |  | — |  |  | — |  |  | (107) |  |  | — |  |  | 178 |
Other |  | 96 |  |  | 24 |  |  | — |  |  | 21 |  |  | — |  |  | 141 |
Total other revenues |  | 856 |  |  | 224 |  |  | 638 |  |  | (31) |  |  | — |  |  | 1,687 |
Total revenues |  | $ | 9,168 |  |  | $ | 3,066 |  |  | $ | 1,917 |  |  | $ | 1,209 |  |  | $ | (26) |  |  | $ | 15,334 |
|  | Year Ended December 31, 2022
|  | Natural Gas Pipelines |  | Products Pipelines |  | Terminals |  | CO 2 |  | Corporate and Eliminations |  | Total
|  | (In millions)
Revenues from contracts with customers(a) |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  |  |  |  |  |  |  |  |  |  |
Firm services(b) |  | $ | 3,547 |  |  | $ | 207 |  |  | $ | 763 |  |  | $ | 1 |  |  | $ | (3) |  |  | $ | 4,515 |
Fee-based services |  | 926 |  |  | 962 |  |  | 426 |  |  | 46 |  |  | — |  |  | 2,360 |
Total services |  | 4,473 |  |  | 1,169 |  |  | 1,189 |  |  | 47 |  |  | (3) |  |  | 6,875 |
Commodity sales |  |  |  |  |  |  |  |  |  |  |  |
Natural gas sales |  | 6,198 |  |  | — |  |  | — |  |  | 82 |  |  | (20) |  |  | 6,260 |
Product sales |  | 1,433 |  |  | 2,032 |  |  | 29 |  |  | 1,426 |  |  | (7) |  |  | 4,913 |
Other sales |  | 68 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 80 |
Total commodity sales |  | 7,699 |  |  | 2,032 |  |  | 29 |  |  | 1,520 |  |  | (27) |  |  | 11,253 |
Total revenues from contracts with customers |  | 12,172 |  |  | 3,201 |  |  | 1,218 |  |  | 1,567 |  |  | (30) |  |  | 18,128 |
Other revenues(c) |  |  |  |  |  |  |  |  |  |  |  |
Leasing services(d) |  | 474 |  |  | 194 |  |  | 574 |  |  | 60 |  |  | — |  |  | 1,302 |
Derivatives adjustments on commodity sales |  | (26) |  |  | (3) |  |  | — |  |  | (325) |  |  | — |  |  | (354) |
Other |  | 66 |  |  | 26 |  |  | — |  |  | 32 |  |  | — |  |  | 124 |
Total other revenues |  | 514 |  |  | 217 |  |  | 574 |  |  | (233) |  |  | — |  |  | 1,072 |
Total revenues |  | $ | 12,686 |  |  | $ | 3,418 |  |  | $ | 1,792 |  |  | $ | 1,334 |  |  | $ | (30) |  |  | $ | 19,200 |
(a)Differences between the revenue classifications presented on the consolidated statements of income and the categories for the disaggregated revenues by type of revenue above are primarily attributable to revenues reflected in the “Other revenues” category above (see note (c)). (b)Includes non-cancellable firm service customer contracts with take-or-pay or minimum volume commitment elements, including those contracts where both the price and quantity amount are fixed. Excludes service contracts with index-based pricing, which along with revenues from other customer service contracts are reported as “Fee-based services.” (c)Amounts recognized as revenue under guidance prescribed in Topics of the ASC other than in Topic 606 were primarily from leases and derivative contracts. See Note 13 for additional information related to our derivative contracts. (d)Our revenues from leasing services are predominantly comprised of specific assets that we lease to customers under operating leases where one customer obtains substantially all of the economic benefit from the asset and has the right to direct the use of that asset. These leases primarily consist of specific tanks, treating facilities, marine vessels and gas equipment and pipelines with separate control locations. Our revenues derived from leases were not material. We do not lease assets that qualify as sales-type or finance leases.
Revenue Allocated to Remaining Performance Obligations | The following table presents our estimated revenue allocated to remaining performance obligations for contracted revenue that has not yet been recognized, representing our “contractually committed” revenue as of December 31, 2024 that we will invoice or transfer from contract liabilities and recognize in future periods:
Year |  | Estimated Revenue
|  | (In millions)
2025 |  | $ | 5,038 |
2026 |  | 4,292 |
2027 |  | 3,541 |
2028 |  | 3,088 |
2029 |  | 2,725 |
Thereafter |  | 15,956 |
Total |  | $ | 34,640 |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration