Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Disaggregation of Revenue [Table Text Block]

The following table presents our revenue disaggregated by major service line:


	Transco		Northwest Pipeline		Gulf of Mexico Midstream		Northeast Midstream		West Midstream		Other		Eliminations		Total
	(Millions)
2020
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage	$	2,404	$	449	$	—	$	—	$	—	$	—	$	(7)	$	2,846
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration	—		—		348		1,279		1,204		—		(75)		2,756
Commodity consideration	—		—		21		7		101		—		—		129
Other	10		—		27		164		65		1		(14)		253
Total service revenues	2,414		449		396		1,450		1,370		1		(96)		5,984
Product sales:
NGL and natural gas	80		—		114		57		1,565		—		(147)		1,669
Total revenues from contracts with customers	2,494		449		510		1,507		2,935		1		(243)		7,653
Other revenues (1)	10		—		9		22		8		33		(16)		66
Total revenues	$	2,504	$	449	$	519	$	1,529	$	2,943	$	34	$	(259)	$	7,719

2019
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage	$	2,336	$	450	$	—	$	—	$	—	$	—	$	(6)	$	2,780
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration	—		—		479		1,171		1,309		—		(75)		2,884
Commodity consideration	—		—		41		12		150		—		—		203
Other	11		—		26		147		42		—		(16)		210
Total service revenues	2,347		450		546		1,330		1,501		—		(97)		6,077
Product sales:
NGL and natural gas	106		—		185		150		1,795		—		(173)		2,063
Total revenues from contracts with customers	2,453		450		731		1,480		3,296		—		(270)		8,140
Other revenues (1)	1		—		8		20		14		30		(12)		61
Total revenues	$	2,454	$	450	$	739	$	1,500	$	3,310	$	30	$	(282)	$	8,201


	Transco		Northwest Pipeline		Gulf of Mexico Midstream		Northeast Midstream		West Midstream		Other		Eliminations		Total
	(Millions)
2018
Revenues from contracts with customers:
Service revenues:
Regulated interstate natural gas transportation and storage	$	1,921	$	443	$	—	$	—	$	—	$	—	$	(2)	$	2,362
Gathering, processing, transportation, fractionation, and storage:
Monetary consideration	—		—		541		861		1,590		2		(73)		2,921
Commodity consideration	—		—		59		20		321		—		—		400
Other	2		—		17		94		46		—		(15)		144
Total service revenues	1,923		443		617		975		1,957		2		(90)		5,827
Product sales:
NGL and natural gas	127		—		307		287		2,421		—		(382)		2,760
Other	—		—		—		—		21		—		(4)		17
Total product sales	127		—		307		287		2,442		—		(386)		2,777
Total revenues from contracts with customers	2,050		443		924		1,262		4,399		2		(476)		8,604
Other revenues (1)	11		—		18		21		12		32		(12)		82
Total revenues	$	2,061	$	443	$	942	$	1,283	$	4,411	$	34	$	(488)	$	8,686

______________________________

(1)Revenues not within the scope of ASC 606, “Revenue from Contracts with Customers,” consist of leasing revenues associated with our headquarters building and management fees that we receive for certain services we provide to operated equity-method investments, which are reported in Service revenues in the Consolidated Statement of Operations, and amounts associated with our derivative contracts, which are reported in Product sales in the Consolidated Statement of Operations.

Contract with Customer, Asset and Liability [Table Text Block]

Contract Assets

The following table presents a reconciliation of our contract assets:


	Year Ended December 31,
	2020		2019
	(Millions)
Balance at beginning of year	$	8	$	4
Revenue recognized in excess of amounts invoiced	145		62
Minimum volume commitments invoiced	(141)		(58)
Balance at end of year	$	12	$	8

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:


	Year Ended December 31,
	2020		2019
	(Millions)
Balance at beginning of year	$	1,215	$	1,397
Payments received and deferred	140		157
Significant financing component	11		13
Chesapeake global resolution (Note 1)	67		—
Recognized in revenue	(224)		(352)
Balance at end of year	$	1,209	$	1,215

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

The following table presents the amount of the contract liabilities balance expected to be recognized as revenue when performance obligations are satisfied and the transaction price allocated to the remaining performance obligations under certain contracts as of December 31, 2020.


	Contract Liabilities		Remaining Performance Obligations
	(Millions)
2021	$	129	$	3,537
2022	113		3,329
2023	118		3,076
2024	98		2,443
2025	92		2,310
Thereafter	659		17,760
Total	$	1,209	$	32,455