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Revenues (Tables)

12 Months Ended

Dec. 31, 2022

	For the Year Ended December 31,
	2022		2021		2020
NGL Pipelines & Services:
Sales of NGLs and related products	$	21,307	$	13,716	$	8,971
Segment midstream services:
Natural gas processing and fractionation		1,431		1,036		757
Transportation		987		976		1,037
Storage and terminals		534		574		412
Total segment midstream services		2,952		2,586		2,206
Total NGL Pipelines & Services		24,259		16,302		11,177
Crude Oil Pipelines & Services:
Sales of crude oil		17,301		9,519		5,411
Segment midstream services:
Transportation		807		929		805
Storage and terminals		453		454		473
Total segment midstream services		1,260		1,383		1,278
Total Crude Oil Pipelines & Services		18,561		10,902		6,689
Natural Gas Pipelines & Services:
Sales of natural gas		5,019		3,413		1,530
Segment midstream services:
Transportation		1,241		987		1,023
Total segment midstream services		1,241		987		1,023
Total Natural Gas Pipelines & Services		6,260		4,400		2,553
Petrochemical & Refined Products Services:
Sales of petrochemicals and refined products		8,003		8,196		5,943
Segment midstream services:
Fractionation and isomerization		222		275		188
Transportation, including marine logistics		585		485		483
Storage and terminals		296		247		167
Total segment midstream services		1,103		1,007		838
Total Petrochemical & Refined Products Services		9,106		9,203		6,781
Total consolidated revenues	$	58,186	$	40,807	$	27,200

The following table provides information regarding our contract assets and contract liabilities at the dates indicated:

		December 31,
Contract Asset	Location	2022		2021
Unbilled revenue (current amount)	Prepaid and other current assets	$	6	$	15
Total		$	6	$	15

		December 31,
Contract Liability	Location	2022		2021
Deferred revenue (current amount)	Other current liabilities	$	181	$	196
Deferred revenue (noncurrent)	Other long-term liabilities		320		250
Total		$	501	$	446

The following table presents significant changes in our unbilled revenue and deferred revenue balances during the years indicated:

	Unbilled Revenue			Deferred Revenue
Balance at December 31, 2019	$	18		$	315
Amount included in opening balance transferred to other accounts during period (1)		(18	)		(114	)
Amount recorded during period (2)		323			661
Amounts recorded during period transferred to other accounts (1)		(304	)		(497	)
Other changes		–			(21	)
Balance at December 31, 2020	$	19		$	344
Amount included in opening balance transferred to other accounts during period (1)		(19	)		(148	)
Amount recorded during period (2)		277			954
Amounts recorded during period transferred to other accounts (1)		(262	)		(700	)
Other changes		–			(4	)
Balance at December 31, 2021	$	15		$	446
Amount included in opening balance transferred to other accounts during period (1)		(15	)		(203	)
Amount recorded during period (2)		155			950
Amounts recorded during period transferred to other accounts (1)		(149	)		(687	)
Other changes		–			(5	)
Balance at December 31, 2022	$	6		$	501

(1)	Unbilled revenues are transferred to accounts receivable once we have an unconditional right to consideration from the customer. Deferred revenues are recognized as revenue upon satisfaction of our performance obligation to the customer.
(2)	Unbilled revenue represents revenue that has been recognized upon satisfaction of a performance obligation, but cannot be contractually invoiced (or billed) to the customer at the balance sheet date until a future period. Deferred revenue is recorded when payment is received from a customer prior to our satisfaction of the associated performance obligation.