Revenue Recognition (Notes)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Revenue by Category

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

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(Thousands)
Balance at beginning of period	$	191,826	$	202,392	$	194,464	$	205,030
Recognized in revenue	(2,641)		(2,641)		(5,279)		(5,279)
Balance at end of period	$	189,185	$	199,751	$	189,185	$	199,751

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 tariffs 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, 2023 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, 2023.

	Contract Liabilities		Remaining Performance Obligations
	(Thousands)
2023 (six months)	$	5,286	$	1,254,753
2024 (one year)	10,568		2,405,611
2025 (one year)	10,566		2,260,166
2026 (one year)	10,566		1,947,179
2027 (one year)	10,566		1,645,657
Thereafter	141,633		10,795,163
Total	$	189,185	$	20,308,529

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 Balance Sheet.