Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2019

Disaggregation of Revenue [Table Text Block]

The following table presents our revenue disaggregated by major service line:



	Northeast Midstream		Atlantic- Gulf Midstream		West Midstream		Transco		Northwest Pipeline		Other		Intercompany Eliminations			Total
	(Millions)
Three Months Ended September 30, 2019
Revenues from contracts with customers:
Service revenues:
Non-regulated gathering, processing, transportation, and storage:
Monetary consideration	$	310	$	117	$	308	$	—	$	—	$	—	$	(19	)	$	716
Commodity consideration	1		7		30		—		—		—		—			38
Regulated interstate natural gas transportation and storage	—		—		—		601		111		—		(2		)	710
Other	38		8		12		—		—		—		(5		)	53
Total service revenues	349		132		350		601		111		—		(26		)	1,517
Product Sales:
NGL and natural gas product sales	30		34		391		41		—		—		(28		)	468
Total revenues from contracts with customers	379		166		741		642		111		—		(54		)	1,985
Other revenues (1)	5		2		—		3		—		7		(3		)	14
Total revenues	$	384	$	168	$	741	$	645	$	111	$	7	$	(57	)	$	1,999

Three Months Ended September 30, 2018
Revenues from contracts with customers:
Service revenues:
Non-regulated gathering, processing, transportation, and storage:
Monetary consideration	$	219	$	139	$	409	$	—	$	—	$	1	$	(19	)	$	749
Commodity consideration	5		19		97		—		—		—		—			121
Regulated interstate natural gas transportation and storage	—		—		—		457		110		—		(1		)	566
Other	23		4		11		—		—		—		(4		)	34
Total service revenues	247		162		517		457		110		1		(24		)	1,470
Product Sales:
NGL and natural gas	69		88		720		41		—		—		(117		)	801
Other	—		—		12		—		—		—		(3		)	9
Total product sales	69		88		732		41		—		—		(120		)	810
Total revenues from contracts with customers	316		250		1,249		498		110		1		(144		)	2,280
Other revenues (1)	6		5		3		3		—		9		(3		)	23
Total revenues	$	322	$	255	$	1,252	$	501	$	110	$	10	$	(147	)	$	2,303



	Northeast Midstream		Atlantic- Gulf Midstream		West Midstream		Transco		Northwest Pipeline		Other		Intercompany Eliminations			Total
	(Millions)
Nine Months Ended September 30, 2019
Revenues from contracts with customers:
Service revenues:
Non-regulated gathering, processing, transportation, and storage:
Monetary consideration	$	840	$	366	$	1,007	$	—	$	—	$	—	$	(54	)	$	2,159
Commodity consideration	9		33		116		—		—		—		—			158
Regulated interstate natural gas transportation and storage	—		—		—		1,736		335		—		(4		)	2,067
Other	104		21		32		1		—		—		(12		)	146
Total service revenues	953		420		1,155		1,737		335		—		(70		)	4,530
Product Sales:
NGL and natural gas product sales	114		140		1,300		88		—		—		(132		)	1,510
Total revenues from contracts with customers	1,067		560		2,455		1,825		335		—		(202		)	6,040
Other revenues (1)	15		6		12		8		—		22		(9		)	54
Total revenues	$	1,082	$	566	$	2,467	$	1,833	$	335	$	22	$	(211	)	$	6,094

Nine Months Ended September 30, 2018
Revenues from contracts with customers:
Service revenues:
Non-regulated gathering, processing, transportation, and storage:
Monetary consideration	$	626	$	404	$	1,231	$	—	$	—	$	2	$	(55	)	$	2,208
Commodity consideration	14		45		257		—		—		—		—			316
Regulated interstate natural gas transportation and storage	—		—		—		1,368		330		—		(2		)	1,696
Other	65		12		35		1		—		—		(10		)	103
Total service revenues	705		461		1,523		1,369		330		2		(67		)	4,323
Product Sales:
NGL and natural gas	242		232		1,799		96		—		—		(285		)	2,084
Other	—		—		20		—		—		—		(4		)	16
Total product sales	242		232		1,819		96		—		—		(289		)	2,100
Total revenues from contracts with customers	947		693		3,342		1,465		330		2		(356		)	6,423
Other revenues (1)	16		14		6		8		—		24		(9		)	59
Total revenues	$	963	$	707	$	3,348	$	1,473	$	330	$	26	$	(365	)	$	6,482

______________________________

(1)

Revenues not within the scope of ASC 606, “Revenue from Contracts with Customers,” consist of leasing revenues associated with our headquarters building and management fees that we receive for certain services we provide to operated equity-method investments, which are reported in Service revenues in our Consolidated Statement of Income, and amounts associated with our derivative contracts, which are reported in Product sales in our Consolidated Statement of Income

Contract with Customer, Asset and Liability [Table Text Block]

The following table presents a reconciliation of our contract assets:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019			2018
	(Millions)
Balance at beginning of period	$	17	$	39	$	4		$	4
Revenue recognized in excess of amounts invoiced	14		17		53			53
Minimum volume commitments invoiced	—		—		(26		)	(1		)
Balance at end of period	$	31	$	56	$	31		$	56

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(Millions)
Balance at beginning of period	$	1,331		$	1,535		$	1,397		$	1,596
Payments received and deferred	12			58			138			269
Deconsolidation of Jackalope interest (Note 5)	—			—			—			(52		)
Significant financing component	3			4			10			11
Recognized in revenue	(77		)	(112		)	(276		)	(339		)
Balance at end of period	$	1,269		$	1,485		$	1,269		$	1,485

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

Remaining performance obligations primarily include reservation charges on contracted capacity for our gas pipeline firm transportation contracts with customers, storage capacity contracts, long-term contracts containing minimum volume commitments associated with our midstream businesses, and fixed payments associated with offshore production handling. For our interstate natural gas pipeline businesses, remaining performance obligations reflect the rates for such services in our current Federal Energy Regulatory Commission (FERC) tariffs 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 are not currently known.

Our remaining performance obligations exclude variable consideration, including contracts with variable consideration for which we have elected the practical expedient for consideration recognized in revenue as billed. Certain of our contracts contain evergreen and other renewal provisions for periods beyond the initial term of the contract. The remaining performance obligation amounts as of September 30, 2019, do not consider potential future performance obligations for which the renewal has not been exercised and excludes contracts with customers for which the underlying facilities have not received FERC authorization to be placed into service. Consideration received prior to September 30, 2019, that will be recognized in future periods is also excluded from our remaining performance obligations and is instead reflected in contract liabilities.

The following table presents the amount of the contract liabilities balance as of September 30, 2019, expected to be recognized as revenue as performance obligations are satisfied and the transaction price allocated to the remaining performance obligations under certain contracts as of September 30, 2019.



	Contract Liabilities		Remaining Performance Obligations
	(Millions)
2019 (remainder)	$	70	$	762
2020	167		3,028
2021	126		2,873
2022	112		2,705
2023	103		2,244
Thereafter	691		19,840
Total	$	1,269	$	31,452

Contract With Customer Accounts Receivable [Table Text Block]

The following is a summary of our Trade accounts and other receivables:



	September 30, 2019		December 31, 2018
	(Millions)
Accounts receivable related to revenues from contracts with customers	$	791	$	858
Other accounts receivable	84		134
Total reflected in Trade accounts and other receivables	$	875	$	992