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Property, Plant, and Equipment (Tables)
12 Months Ended
Dec. 31, 2023
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 in our Consolidated Balance Sheet for the years ended:
Estimated
Useful Life  (1)
(Years)
Depreciation
Rates (1)
(%)
December 31,
20232022
   (Millions)
Nonregulated:
Natural gas gathering and processing facilities
5 - 40
$21,357 $19,163 
Construction in progressNot applicable1,138 997 
Oil and gas propertiesUnits of production1,111 874 
Other
0 - 45
3,268 2,998 
Regulated:
Natural gas transmission facilities
1.25 - 8.33
21,083 19,521 
Construction in progressNot applicableNot applicable1,124 708 
Other
5 - 45
0.00 - 33.33
2,761 2,796 
Total property, plant, and equipment, at cost51,842 47,057 
Accumulated depreciation and amortization(17,531)(16,168)
Property, plant, and equipment — net$34,311 $30,889 
__________
(1)    Estimated useful life and depreciation rates are presented as of December 31, 2023. 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 AROs, of which $1.978 billion and $1.827 billion are included in Regulatory liabilities, deferred income, and other with the remaining current portion in Accrued and other current liabilities at December 31, 2023 and 2022, respectively.
 Year Ended December 31,
 20232022
 (Millions)
Balance at beginning of year$1,914 $1,665 
Liabilities incurred
42 77 
Liabilities settled(43)(22)
Accretion97 85 
Revisions (1)
74 109 
Balance at end of year$2,084 $1,914 
___________
(1)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 2023 and 2022 revisions reflect changes in removal cost estimates and increases in inflation rates, partially offset by increases in discount rates.