Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions [Text Block]

Note 4 – Related Party Transactions

Transactions with Equity-Method Investees

We have costs and expenses associated with our equity-method investees of $776 million, $1.346 billion, and $948 million for 2023, 2022, and 2021, respectively in our Consolidated Statement of Income. Substantially all of these expenses are included in Product costs. We also have revenue from our equity-method investees of $5 million, $76 million, and $46 million for 2023, 2022, and 2021, respectively. In addition, we have $2 million and $17 million included in Trade accounts and other receivables and $33 million and $87 million included in Accounts payable in our Consolidated Balance Sheet with our equity-method investees at December 31, 2023 and 2022, respectively.

We have operating agreements with certain equity-method investees. These operating agreements typically provide for reimbursement or payment to us for certain direct operational payroll and employee benefit costs, materials, supplies, and other charges and also for management services. The total charges to equity-method investees for these fees are $64 million, $65 million, and $70 million for 2023, 2022, and 2021, respectively.

Board of Directors

Two members of our Board of Directors are also executive officers at certain of our counterparties. We recorded $90 million and $180 million in Product sales and $25 million and $86 million in Product costs in our Consolidated Statement of Income from these companies for the purchase and sale of natural gas for 2023 and 2022, respectively.