XML 31 R21.htm IDEA: XBRL DOCUMENT v3.23.1
Revenues and Accounts Receivable (Tables)
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
Revenues from Contracts with Customers. The following tables present our revenues from contracts with customers disaggregated by segment and type of activity (in millions):

Three Months Ended
March 31,
20232022
Crude Oil segment revenues from contracts with customers
Sales$11,381 $12,857 
Transportation250 155 
Terminalling, Storage and Other90 90 
Total Crude Oil segment revenues from contracts with customers$11,721 $13,102 

Three Months Ended
March 31,
20232022
NGL segment revenues from contracts with customers
Sales$660 $845 
Transportation8 9 
Terminalling, Storage and Other28 25 
Total NGL segment revenues from contracts with customers$696 $879 
The following tables present the reconciliation of our revenues from contracts with customers to total revenues of reportable segments and total revenues as disclosed in our Condensed Consolidated Statements of Operations (in millions):
Three Months Ended March 31, 2023Crude OilNGLTotal
Revenues from contracts with customers$11,721 $696 $12,417 
Other revenues37 (6)31 
Total revenues of reportable segments$11,758 $690 $12,448 
Intersegment revenues elimination(107)
Total revenues$12,341 
Three Months Ended March 31, 2022Crude OilNGLTotal
Revenues from contracts with customers$13,102 $879 $13,981 
Other revenues(23)(144)(167)
Total revenues of reportable segments$13,079 $735 $13,814 
Intersegment revenues elimination(120)
Total revenues$13,694 
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,
2023		December 31,
2022
Billed and collectedOther current liabilities$88 $104 
Unbilled (1)
N/A— 1 
Total$88 $105 
(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 asset and liability balance The following table presents the changes in the liability balance associated with contracts with customers (in millions):
 Contract Liabilities
Balance at December 31, 2022$229 
Amounts recognized as revenue(31)
Additions6 
Balance at March 31, 2023$204 
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,
2023		December 31,
2022
Trade accounts receivable arising from revenues from contracts with customers
$4,141 $4,141 
Other trade accounts receivables and other receivables (1)
6,912 7,216 
Impact due to contractual rights of offset with counterparties(7,085)(7,450)
Trade accounts receivable and other receivables, net$3,968 $3,907 
(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, 2023 (in millions):
Remainder of 202320242025202620272028 and Thereafter
Pipeline revenues supported by minimum volume commitments and capacity agreements (1)
$253 $339 $360 $131 $94 $236 
Terminalling, storage and other agreement revenues195 203 127 99 89 737 
Total$448 $542 $487 $230 $183 $973 
(1)Calculated as volumes committed under contracts multiplied by the current applicable tariff rate.