XML 55 R39.htm IDEA: XBRL DOCUMENT v3.22.4
Property, Plant, and Equipment (Tables)
12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment [Table Text Block]
The following table presents nonregulated and regulated Property, plant, and equipment – net as presented on the Consolidated Balance Sheet for the years ended:
Estimated
Useful Life  (1)
(Years)
Depreciation
Rates (1)
(%)
December 31,
20222021
   (Millions)
Nonregulated:
Natural gas gathering and processing facilities
5 - 40
$19,163 $18,203 
Construction in progressNot applicable997 331 
Oil and gas propertiesUnits of production874 572 
Other
0 - 45
2,998 2,649 
Regulated:
Natural gas transmission facilities
1.25 - 7.13
19,521 19,201 
Construction in progressNot applicableNot applicable708 475 
Other
5 - 45
0.00 - 33.33
2,796 2,753 
Total property, plant, and equipment, at cost47,057 44,184 
Accumulated depreciation and amortization(16,168)(14,926)
Property, plant, and equipment — net$30,889 $29,258 
__________
(1)    Estimated useful life and depreciation rates are presented as of December 31, 2022. Depreciation rates and estimated useful lives for regulated assets are prescribed by the FERC.
Schedule of Change in Asset Retirement Obligation
The following table presents the significant changes to our ARO, of which $1.827 billion and $1.590 billion are included in Regulatory liabilities, deferred income, and other with the remaining current portion in Accrued and other current liabilities at December 31, 2022 and 2021, respectively.
 Year Ended December 31,
 20222021
 (Millions)
Balance at beginning of year$1,665 $1,222 
Liabilities incurred (1)77 336 
Liabilities settled(22)(25)
Accretion85 73 
Revisions (2)109 59 
Balance at end of year$1,914 $1,665 
___________
(1)Includes $307 million of ARO in 2021 related to acquired upstream properties.
(2)Several factors are considered in the annual review process, including inflation rates, current estimates for removal cost, market risk premiums, discount rates, and the estimated remaining useful life of the assets. The 2022 revisions reflect changes in removal cost estimates and increases in inflation rates, partially offset by increases in discount rates. The 2021 revisions reflect changes in removal cost estimates, increases in the estimated remaining useful life of certain assets, and increases in inflation rates.