REVENUES (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Contract with Customer, Asset and Liability

The following table sets forth the balances in contract liabilities for the periods indicated:


Contract Liabilities	(Millions of dollars)
Balance at December 31, 2023 (a)	$	150
Revenue recognized included in beginning balance	(114)
Net additions	123
Balance at June 30, 2024 (b)	$	159

(a) - Contract liabilities of $104 million and $46 million are included in other current liabilities and other deferred credits, respectively, in our Consolidated Balance Sheet.

(b) - Contract liabilities of $119 million and $40 million are included in the other current liabilities and other deferred credits, respectively in our Consolidated Balance Sheet.

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table presents aggregate value allocated to unsatisfied performance obligations as of June 30, 2024, and the amounts we expect to recognize in revenue in future periods, related primarily to firm transportation and storage contracts with remaining contract terms ranging from one month to 30 years:


Expected Period of Recognition in Revenue	(Millions of dollars)
Remainder of 2024	$	650
2025	1,120
2026	940
2027	835
2028 and beyond	2,462
Total	$	6,007