Revenue Recognition (Notes)

6 Months Ended

Jun. 30, 2022

Revenue Recognition [Abstract]

Revenue Recognition

Revenue Recognition

Revenue by Category

Our revenue disaggregation by major service line includes Natural gas transportation, Natural gas storage, and Other, which are separately presented on the Statement of Net Income.

Contract Assets

The following table presents a reconciliation of our contract assets:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(Thousands)
Balance at beginning of period	$	9,064	$	4,516	$	7,943	$	3,395
Revenue recognized in excess of amounts invoiced	1,134		1,134		2,255		2,255
Balance at end of period	$	10,198	$	5,650	$	10,198	$	5,650

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(Thousands)
Balance at beginning of period	$	3,418	$	4,378	$	3,672	$	4,610
Recognized in revenue	(257)		(234)		(511)		(466)
Balance at end of period	$	3,161	$	4,144	$	3,161	$	4,144

Remaining Performance Obligations

Our remaining performance obligations primarily include reservation charges on contracted capacity on our firm transportation and storage contracts with customers. Amounts from certain contracts included in the table below, which are subject to periodic review and approval by the FERC, reflect the rates for such services in our current FERC tariffs for the life of the related contracts; however, these rates may change based on future rate cases or settlements approved by the FERC. This table excludes the variable consideration component for commodity charges. Certain of our contracts contain evergreen and other renewal provisions for periods beyond the initial term of the contract. The remaining performance obligations as of June 30, 2022 do not consider potential future performance obligations for which the renewal has not been exercised and exclude contracts with customers for which the underlying facilities have not received FERC authorization to be placed into service.

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 June 30, 2022.

	Contract Liabilities		Remaining Performance Obligations
	(Thousands)
2022 (six months)	$	518	$	208,326
2023 (one year)	1,120		397,086
2024 (one year)	1,218		345,642
2025 (one year)	305		331,553
2026 (one year)	—		322,990
Thereafter	—		2,518,879
Total	$	3,161	$	4,124,476

Accounts Receivable

Receivables from contracts with customers are included within Receivables - Trade and Receivables - Affiliated companies and receivables that are not related to contracts with customers are included within the balance of Receivables - Advances to affiliate and Receivables - Other on our Balance Sheet.