Revenue from Contracts with Customers (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Revenue from Contract with Customer [Abstract] |
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Summary of Revenue from Contracts with Customers Table |
The following table summarizes revenue from contracts with customers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | | | | | | thousands | | | | | | 2021 | | 2020 | | 2019 | Revenue from customers | | | | | | | | | | | Service revenues – fee based | | | | | | $ | 2,283,584 | | | $ | 2,360,680 | | | $ | 2,388,191 | | Service revenues – product based | | | | | | 122,584 | | | 48,369 | | | 70,127 | | Product sales | | | | | | 290,947 | | | 138,559 | | | 287,055 | | Total revenue from customers | | | | | | 2,697,115 | | | 2,547,608 | | 2,745,373 | Revenue from other than customers | | | | | | | | | | | Lease revenue (1) | | | | | | 179,251 | | | 223,643 | | | — | | Net gains (losses) on commodity-price swap agreements | | | | | | — | | | — | | | (667) | | Other | | | | | | 789 | | | 1,341 | | | 1,468 | | Total revenues and other | | | | | | $ | 2,877,155 | | | $ | 2,772,592 | | | $ | 2,746,174 | |
_________________________________________________________________________________________ (1)Includes fixed- and variable-lease revenue from an operating and maintenance agreement entered into with Occidental. See Operating leases within Note 6.
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Contract Balances Tables |
The following table summarizes activity related to contract assets from contracts with customers: | | | | | | | | | | | | | | | | | Year Ended December 31, | thousands | | 2021 | | 2020 | | | | | | Contract assets balance at beginning of year | | $ | 56,344 | | | $ | 67,357 | | Amounts transferred to Accounts receivable, net that were included in the contract assets balance at the beginning of the period | | (10,380) | | | (7,129) | | Additional estimated revenues recognized | | 120 | | | 3,877 | | Cumulative catch-up adjustment for change in estimated consideration | | (23,527) | | | (7,761) | | Contract assets balance at end of year | | $ | 22,557 | | | $ | 56,344 | | | | | | | | | December 31, | thousands | | 2021 | | 2020 | | | | | | Other current assets | | $ | 5,307 | | | $ | 5,338 | | Other assets | | 17,250 | | | 51,006 | | Total contract assets from contracts with customers | | $ | 22,557 | | | $ | 56,344 | | The following table summarizes activity related to contract liabilities from contracts with customers: | | | | | | | | | | | | | | | | | Year Ended December 31, | thousands | | 2021 | | 2020 | | | | | | Contract liabilities balance at beginning of year | | $ | 266,937 | | | $ | 222,274 | | Cash received or receivable, excluding revenues recognized during the period | | 83,326 | | | 65,215 | | | | | | | Revenues recognized that were included in the contract liability balance at the beginning of the period | | (17,265) | | | (13,842) | | Cumulative catch-up adjustment for change in estimated consideration | | (19,852) | | | (6,710) | | Contract liabilities balance at end of year | | $ | 313,146 | | | $ | 266,937 | | | | | | | | | December 31, | thousands | | 2021 | | 2020 | | | | | | Accrued liabilities | | $ | 27,763 | | | $ | 31,477 | | Other liabilities | | 285,383 | | | 235,460 | | Total contract liabilities from contracts with customers | | $ | 313,146 | | | $ | 266,937 | |
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Expected Revenue Recognition from Satisfaction of Performance Obligations Table |
Therefore, the following table represents only a portion of expected future revenues from existing contracts as most future revenues from customers are dependent on future variable customer volumes and, in some cases, variable commodity prices for those volumes. | | | | | | | | | thousands | | | 2022 | | $ | 1,056,001 | | 2023 | | 1,000,687 | | 2024 | | 971,195 | | 2025 | | 889,113 | | 2026 | | 769,719 | | Thereafter | | 1,947,577 | | Total | | $ | 6,634,292 | |
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