Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2024

Reconciliation of Modified EBITDA to Net income (loss) [Table Text Block]

The following table reflects the reconciliation of Modified EBITDA to Net income (loss) as reported in our Consolidated Statement of Income:



	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(Millions)
Modified EBITDA by segment:
Transmission & Gulf of Mexico	$	808	$	731	$	1,637	$	1,446
Northeast G&P	481		515		985		985
West	318		312		645		616
Gas & NGL Marketing Services	(126)		68		(25)		635
Total reportable segments	1,481		1,626		3,242		3,682
Modified EBITDA of other business activities	47		41		123		115
	1,528		1,667		3,365		3,797
Accretion expense associated with asset retirement obligations for nonregulated operations	(21)		(14)		(39)		(29)
Depreciation and amortization expenses	(540)		(515)		(1,088)		(1,021)

Equity earnings (losses)	147		160		284		307

Other investing income (loss) – net	18		13		42		21
Proportional Modified EBITDA of equity-method investments	(238)		(249)		(466)		(478)
Interest expense	(339)		(306)		(688)		(600)
(Provision) benefit for income taxes	(129)		(175)		(322)		(459)
Income (loss) from discontinued operations	—		(87)		—		(87)
Net income (loss)	$	426	$	494	$	1,088	$	1,451

Reconciliation of revenue from segment to consolidated [Table Text Block]

The following table reflects the reconciliation of Segment revenues to Total revenues as reported in our Consolidated Statement of Income:


	Transmission & Gulf of Mexico		Northeast G&P		West		Gas & NGL Marketing Services (1)		Other		Eliminations		Total
	(Millions)
Three Months Ended June 30, 2024
Segment revenues:
Service revenues
External	$	999	$	462	$	372	$	—	$	4	$	—	$	1,837
Internal	24		3		35		—		—		(62)		—
Total service revenues	1,023		465		407		—		4		(62)		1,837
Total service revenues – commodity consideration	5		(5)		18		—		—		—		18
Product sales
External	25		5		34		508		38		—		610
Internal	15		18		157		(85)		48		(153)		—
Total product sales	40		23		191		423		86		(153)		610
Net gain (loss) from commodity derivatives
Realized	—		—		5		(33)		23		—		(5)
Unrealized	—		—		—		(99)		(25)		—		(124)
Total net gain (loss) from commodity derivatives (2)	—		—		5		(132)		(2)		—		(129)
Total revenues	$	1,068	$	483	$	621	$	291	$	88	$	(215)	$	2,336





Three Months Ended June 30, 2023
Segment revenues:
Service revenues
External	$	933	$	480	$	330	$	—	$	5	$	—	$	1,748
Internal	23		9		28		—		—		(60)		—
Total service revenues	956		489		358		—		5		(60)		1,748
Total service revenues – commodity consideration	6		(3)		24		—		—		—		27
Product sales
External	57		11		10		487		28		—		593
Internal	22		17		75		(60)		55		(109)		—
Total product sales	79		28		85		427		83		(109)		593
Net gain (loss) from commodity derivatives
Realized	1		—		33		(45)		14		—		3
Unrealized	—		—		—		123		(11)		—		112
Total net gain (loss) from commodity derivatives (2)	1		—		33		78		3		—		115
Total revenues	$	1,042	$	514	$	500	$	505	$	91	$	(169)	$	2,483


	Transmission & Gulf of Mexico		Northeast G&P		West		Gas & NGL Marketing Services (1)		Other		Eliminations		Total
	(Millions)
Six Months Ended June 30, 2024
Segment revenues:
Service revenues
External	$	2,028	$	937	$	769	$	—	$	8	$	—	$	3,742
Internal	44		7		75		—		—		(126)		—
Total service revenues	2,072		944		844		—		8		(126)		3,742
Total service revenues – commodity consideration	14		—		34		—		—		—		48
Product sales
External	55		7		106		1,215		72		—		1,455
Internal	46		41		333		(205)		122		(337)		—
Total product sales	101		48		439		1,010		194		(337)		1,455
Net gain (loss) from commodity derivatives
Realized	—		—		5		48		28		—		81
Unrealized	—		—		—		(197)		(22)		—		(219)
Total net gain (loss) from commodity derivatives (2)	—		—		5		(149)		6		—		(138)
Total revenues	$	2,187	$	992	$	1,322	$	861	$	208	$	(463)	$	5,107





Six Months Ended June 30, 2023
Segment revenues:
Service revenues
External	$	1,848	$	923	$	662	$	1	$	8	$	—	$	3,442
Internal	48		20		52		—		—		(120)		—
Total service revenues	1,896		943		714		1		8		(120)		3,442
Total service revenues – commodity consideration	18		3		42		—		—		—		63
Product sales
External	81		19		29		1,263		46		—		1,438
Internal	53		58		146		(161)		139		(235)		—
Total product sales	134		77		175		1,102		185		(235)		1,438
Net gain (loss) from commodity derivatives
Realized	1		—		72		72		32		—		177
Unrealized	—		—		—		461		(17)		—		444
Total net gain (loss) from commodity derivatives (2)	1		—		72		533		15		—		621
Total revenues	$	2,049	$	1,023	$	1,003	$	1,636	$	208	$	(355)	$	5,564

______________

(1) As we are acting as agent for natural gas marketing customers or engage in energy trading activities, the resulting revenues are presented net of the related costs of those activities.

(2) We record transactions that qualify as commodity derivatives at fair value with changes in fair value recognized in earnings in the period of change and characterized as unrealized gains or losses. Gains and losses from commodity derivatives held for energy trading purposes are presented on a net basis in revenue.