XML 34 R23.htm IDEA: XBRL DOCUMENT v3.21.1
Revenues and Accounts Receivable (Tables)
 3 Months Ended
Mar. 31, 2021
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue The following tables present the reconciliation of our revenues from contracts with customers (as described above for each segment) to segment revenues and total revenues as disclosed in our Condensed Consolidated Statements of Operations (in millions):
Three Months Ended March 31, 2021TransportationFacilitiesSupply and
Logistics		Total
Revenues from contracts with customers$446 $254 $8,395 $9,095 
Other items in revenues41 17 (312)(254)
Total revenues of reportable segments$487 $271 $8,083 $8,841 
Intersegment revenues(458)
Total revenues$8,383 
Three Months Ended March 31, 2020TransportationFacilitiesSupply and
Logistics		Total
Revenues from contracts with customers$573 $305 $7,750 $8,628 
Other items in revenues6 8 158 172 
Total revenues of reportable segments$579 $313 $7,908 $8,800 
Intersegment revenues(531)
Total revenues$8,269 
Contract with customer, counterparty deficiencies The following table presents counterparty deficiencies associated with contracts with customers and buy/sell arrangements that include minimum volume commitments for which we had remaining performance obligations and the customers still had the ability to meet their obligations (in millions):
Counterparty DeficienciesFinancial Statement ClassificationMarch 31,
2021		December 31,
2020
Billed and collectedLiability$47 $73 
Unbilled (1)
N/A24 4 
Total$71 $77 

(1)Amounts were related to deficiencies for which the counterparties had not met their contractual minimum commitments and are not reflected in our Condensed Consolidated Financial Statements as we had not yet billed or collected such amounts.
Contracts with customers, change in contract liability balance The following table presents the change in the liability balance associated with contracts with customers (in millions):
 Contract Liabilities
Balance at December 31, 2020$501 
Amounts recognized as revenue (1)
(380)
Additions (2)
373 
Balance at March 31, 2021$494 

(1)Includes approximately $361 million associated with crude oil sales agreements that were entered into in the fourth quarter of 2020 in conjunction with storage arrangements and future inventory exchanges.
(2)Includes approximately $346 million associated with crude oil sales agreements that were entered into in the first quarter of 2021 in conjunction with storage arrangements and future inventory exchanges. Such amount is expected to be recognized as revenue in the second quarter of 2021.
The following is a reconciliation of trade accounts receivable from revenues from contracts with customers to total Trade accounts receivable and other receivables, net as presented on our Condensed Consolidated Balance Sheets (in millions):

March 31,
2021		December 31, 2020
Trade accounts receivable arising from revenues from contracts with customers
$3,140 $2,317 
Other trade accounts receivables and other receivables (1)
3,582 2,818 
Impact due to contractual rights of offset with counterparties(3,321)(2,582)
Trade accounts receivable and other receivables, net$3,401 $2,553 

(1)The balance is comprised primarily of accounts receivable associated with buy/sell arrangements that are not within the scope of ASC 606.
Remaining performance obligations The following table presents the amount of consideration associated with remaining performance obligations for the population of contracts with external customers meeting the presentation requirements as of March 31, 2021 (in millions):
Remainder of 202120222023202420252026 and Thereafter
Pipeline revenues supported by minimum volume commitments and capacity agreements (1)
$135 $171 $171 $146 $126 $456 
Storage, terminalling and throughput agreement revenues
275 302 220 179 116 332 
Total$410 $473 $391 $325 $242 $788 
(1)Calculated as volumes committed under contracts multiplied by the current applicable tariff rate.
Supply and Logistics  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
The following tables present our Supply and Logistics, Transportation and Facilities segment revenues from contracts with customers disaggregated by type of activity (in millions):

Three Months Ended
March 31,
20212020
Supply and Logistics segment revenues from contracts with customers
Crude oil transactions$7,711 $7,322 
NGL and other transactions684 428 
Total Supply and Logistics segment revenues from contracts with customers
$8,395 $7,750 
Transportation  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
Three Months Ended
March 31,
20212020
Transportation segment revenues from contracts with customers
Tariff activities:
Crude oil pipelines$397 $512 
NGL pipelines27 26 
Total tariff activities424 538 
Trucking22 35 
Total Transportation segment revenues from contracts with customers
$446 $573 
Facilities  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
Three Months Ended
March 31,
20212020
Facilities segment revenues from contracts with customers
Crude oil, NGL and other terminalling and storage$170 $182 
NGL and natural gas processing and fractionation73 109 
Rail load / unload11 14 
Total Facilities segment revenues from contracts with customers$254 $305