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REVENUE (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment:

			Three Months Ended												Six Months Ended
			June 30,												June 30,
			2024						2023						2024						2023
			(millions)
Pipeline (a)			$	109					$	90					$	216					$	175
Gathering			135						134						268						269
Total operating revenues			$	244					$	224					$	484					$	444

__________________________________

(a)Includes revenues outside the scope of ASC 606 primarily related to contracts accounted for as leases of $2 million for both the three months ended June 30, 2024 and 2023, and $4 million and $3 million for the six months ended June 30, 2024 and 2023, respectively.

Summary of Contact Liability Activity

The following is a summary of contract liability activity:

			2024
			(millions)
Balance as of January 1			$	129
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period			29
Revenue recognized that was included in the balance at the beginning of the period			(12)
Balance as of June 30			$	146

Revenue Expected to be Recognized in Future Periods

The following table presents contract liability amounts as of June 30, 2024 that are expected to be recognized as revenue in future periods:

			(millions)
Remainder of 2024			$	11
2025			21
2026			20
2027			19
2028			17
2029 and thereafter			58
Total			$	146

The following table presents revenue amounts related to fixed consideration associated with unsatisfied performance obligations as of June 30, 2024 that are expected to be recognized as revenue in future periods:

			(millions)
Remainder of 2024			$	69
2025			150
2026			128
2027			97
2028			65
2029 and thereafter			230
Total			$	739

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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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

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No definition available.

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- 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

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