Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2023

Reconciliation of Modified EBITDA to Net Income (Loss) [Table Text Block]

The following table reflects the reconciliation of Modified EBITDA to Net income (loss) as reported in our Consolidated Statement of Income.


	Three Months Ended March 31,
		2023		2022
		(Millions)
Modified EBITDA by segment:
Transmission & Gulf of Mexico		$	715	$	697
Northeast G&P		470		418
West		304		260
Gas & NGL Marketing Services (1)		567		13
Other		74		5
		2,130		1,393
Accretion expense associated with asset retirement obligations for nonregulated operations		(15)		(11)
Depreciation and amortization expenses		(506)		(498)

Equity earnings (losses)		147		136

Other investing income (loss) – net		8		1
Proportional Modified EBITDA of equity-method investments		(229)		(225)
Interest expense		(294)		(286)
(Provision) benefit for income taxes		(284)		(118)

Net income (loss)		$	957	$	392

_____________

(1) Modified EBITDA for the three months ended March 31, 2023 and 2022, includes charges of $18 million and $0 million, respectively, associated with lower of cost or net realizable value adjustments to our inventory. These charges are reflected in Product sales and Product costs in our Consolidated Statement of Income. Net unrealized commodity-related derivatives gains (losses) of $(5) million and $2 million for the three months ended March 31, 2023 and 2022, respectively, are reflected in Net processing commodity expenses.

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

The following table reflects the reconciliation of Segment revenues to Total revenues as reported in our Consolidated Statement of Income.


	Transmission &Gulf of Mexico		Northeast G&P		West		Gas & NGL Marketing Services (1)		Other		Eliminations		Total
	(Millions)


































Three Months Ended March 31, 2023
Segment revenues:
Service revenues
External	$	915	$	443	$	332	$	1	$	3	$	—	$	1,694
Internal	25		11		24		—		—		(60)		—
Total service revenues	940		454		356		1		3		(60)		1,694
Total service revenues – commodity consideration	12		6		18		—		—		—		36
Product sales
External	24		8		19		776		18		—		845
Internal	31		41		71		(101)		84		(126)		—
Total product sales	55		49		90		675		102		(126)		845
Net gain (loss) on commodity derivatives
Realized	—		—		39		117		18		—		174
Unrealized	—		—		—		338		(6)		—		332
Total net gain (loss) on commodity derivatives (2)	—		—		39		455		12		—		506
Total revenues	$	1,007	$	509	$	503	$	1,131	$	117	$	(186)	$	3,081

Three Months Ended March 31, 2022
Segment revenues:
Service revenues
External	$	845	$	370	$	316	$	1	$	5	$	—	$	1,537
Internal	29		10		15		—		4		(58)		—
Total service revenues	874		380		331		1		9		(58)		1,537
Total service revenues – commodity consideration	21		7		49		—		—		—		77
Product sales
External	51		5		11		1,015		22		—		1,104
Internal	49		31		176		(47)		82		(291)		—
Total product sales	100		36		187		968		104		(291)		1,104
Net gain (loss) on commodity derivatives
Realized	—		—		(5)		(56)		(8)		—		(69)
Unrealized	—		—		—		(59)		(66)		—		(125)
Total net gain (loss) on commodity derivatives (2)	—		—		(5)		(115)		(74)		—		(194)
Total revenues	$	995	$	423	$	562	$	854	$	39	$	(349)	$	2,524

_____________

(1) As we are acting as agent for natural gas marketing customers or engage in energy trading activities, the resulting revenues are presented net of the related costs of those activities.

(2) We record transactions that qualify as derivatives at fair value with changes in fair value recognized in earnings in the period of change and characterized as unrealized gains or losses. Gains and losses on derivatives held for energy trading purposes are presented on a net basis in revenue.