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Other Long-term Liabilities | 9 Months Ended
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Sep. 30, 2024
Other Liabilities, Noncurrent [Abstract] |
Other Long-term Liabilities | Note 7 — Other Long-term Liabilities Other long-term liabilities are comprised of the following:
|  | September 30, 2024 |  |  | December 31, 2023 |
Deferred revenue |  | $ | 119.3 |  |  | $ | 248.8 |
Asset retirement obligations |  |  | 135.5 |  |  |  | 103.0 |
Operating lease liabilities |  |  | 80.9 |  |  |  | 56.5 |
Other liabilities |  |  | 4.3 |  |  |  | 6.8 |
Total other long-term liabilities |  | $ | 340.0 |  |  | $ | 415.1 |
Deferred Revenue We have certain long-term contractual arrangements for which we have received consideration that we are not yet able to recognize as revenue. The resulting deferred revenue will be recognized once all conditions for revenue recognition have been met. Deferred revenue as of September 30, 2024 and December 31, 2023, was $119.3 million and $248.8 million, respectively. Deferred revenue as of December 31, 2023 included $129.0 million in payments received from Vitol Americas Corp. (“Vitol”) (formerly known as Noble Americas Corp.), a subsidiary of Vitol US Holding Co., in 2016, 2017, and 2018 as part of an agreement (the “Splitter Agreement”) related to the construction and operation of a crude oil and condensate splitter. In December 2018, Vitol elected to terminate the Splitter Agreement. As a result of a legal ruling in April 2024, the $129.0 million in payments from Vitol were reclassified to Accrued liabilities on our Consolidated Balance Sheets during the first quarter of 2024. On April 26, 2024, we made a cash payment of $184.8 million which included cumulative interest on the award of $55.8 million to Vitol in satisfaction of the Texas state court judgment. See Note 12 – Contingencies for further details. Deferred revenue includes nonmonetary consideration received in a 2015 amendment to a gas gathering and processing agreement and consideration received for other construction activities of facilities connected to our systems. Deferred revenue also includes contributions in aid of construction received from customers for which revenue is recognized over the expected contract term. The following table shows the components of deferred revenue:
|  | September 30, 2024 |  |  | December 31, 2023 |
Contributions in aid of construction |  | $ | 89.3 |  |  | $ | 86.4 |
Gas contract amendment |  |  | 28.0 |  |  |  | 29.8 |
Splitter agreement |  |  | — |  |  |  | 129.0 |
Other |  |  | 2.0 |  |  |  | 3.6 |
Total deferred revenue |  | $ | 119.3 |  |  | $ | 248.8 |
The following table shows the changes in deferred revenue:
Balance at December 31, 2023 |  | $ | 248.8 |
Additions |  |  | 13.9 |
Reclassification to accrued liabilities |  |  | (129.0 | )
Revenue recognized |  |  | (14.4 | )
Balance at September 30, 2024 |  | $ | 119.3 |

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