Investing Activities (Tables)

12 Months Ended

Dec. 31, 2022

Investments [Abstract]

Investments [Table Text Block]

	Ownership Interest at December 31, 2022	December 31,
		2022		2021
		(Millions)
Equity method:
Appalachia Midstream Investments	(1)	$	2,975	$	3,056
RMM	50%	395		401
OPPL	50%	386		388
Blue Racer	50%	383		377
Discovery	60%	345		328
Gulfstream	50%	220		215
Laurel Mountain	69%	205		226
Other	Various	139		130
		5,048		5,121
Other		17		6
		$	5,065	$	5,127

___________

(1)Includes equity-method investments in multiple gathering systems in the Marcellus Shale region with an approximate average 66 percent interest.

Contributions [Table Text Block]

Purchases of and contributions to equity-method investments

We generally fund our portion of significant expansion or development projects of these investees through additional capital contributions. These transactions increased the carrying value of our investments and included:

	Year Ended December 31,
	2022		2021		2020
	(Millions)
Appalachia Midstream Investments	$	83	$	84	$	116
Discovery	41		—		—
Cardinal Pipeline Company, LLC	16		—		—
Gulfstream	14		26		3
Blue Racer (1)	—		3		157
Other	12		2		49
	$	166	$	115	$	325

___________

(1)See following discussion in the section Acquisition of additional interests in BRMH below.

Dividends and distributions [Table Text Block]

Dividends and distributions

The organizational documents of entities in which we have an equity-method investment generally require distribution of available cash to members on at least a quarterly basis. These transactions reduced the carrying value of our investments and included:

	Year Ended December 31,
	2022		2021		2020
	(Millions)
Appalachia Midstream Investments	$	415	$	433	$	357
Laurel Mountain	112		33		31
Gulfstream	89		90		93
RMM	52		45		39
Blue Racer (1)	49		47		47
Discovery	49		44		21
OPPL	34		26		50
Other	65		39		15
	$	865	$	757	$	653

___________

(1)See previous discussion in the section Acquisition of additional interests in BRMH above.

Summarized Financial Position and Results of Operations of Equity Method Investments [Table Text Block]

Summarized Financial Position and Results of Operations of All Equity-Method Investments

	December 31,
	2022		2021
	(Millions)
Assets (liabilities):
Current assets	$	964	$	743
Noncurrent assets	12,701		13,211
Current liabilities	(632)		(435)
Noncurrent liabilities	(3,789)		(3,774)

	Year Ended December 31,
	2022		2021		2020
	(Millions)
Gross revenue	$	5,520	$	4,688	$	2,625
Operating income	1,268		1,191		508
Net income	1,102		1,006		459