Revenue Recognition (Notes)

3 Months Ended

Mar. 31, 2022

Revenue Recognition [Abstract]

Revenue Recognition

Revenue Recognition

Revenue by Category

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

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:

	Three Months Ended March 31,
	2022		2021
	(Thousands)
Balance at beginning of period	$	205,030	$	215,596
Recognized in revenue	(2,638)		(2,638)
Balance at end of period	$	202,392	$	212,958

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, net of estimated reserve for refund, for the life of the related contracts; however, these rates may change based on future tariffs approved by the FERC and the amount and timing of these changes is not currently known. 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 March 31, 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 March 31, 2022.

	Contract Liabilities		Remaining Performance Obligations
	(Thousands)
2022 (nine months)	$	7,927	$	1,862,423
2023 (one year)	10,566		2,310,342
2024 (one year)	10,568		2,179,510
2025 (one year)	10,566		1,739,032
2026 (one year)	10,566		1,578,189
Thereafter	152,199		12,137,882
Total	$	202,392	$	21,807,378

Accounts Receivable

Receivables from contracts with customers are included within Receivables - Trade and Receivables - Affiliates, 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 Condensed Balance Sheet.