Revenues

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers

Revenues

The Company operates in one reportable segment and contracts directly with end-use customers, including local distribution companies, electric power generators, exporters of liquefied natural gas and industrial users, with producers and marketers of natural gas, and with interstate and intrastate pipelines, who, in turn, provide transportation and storage services for end-users. The following table presents the Company's revenues disaggregated by type of service for the three and nine months ended September 30, 2022 and 2021 (in millions):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Revenues from Contracts with Customers
Firm Service (1)	$	305.3	$	283.2	$	950.5	$	913.1
Interruptible Service	16.7		6.5		35.5		25.2
Other revenues	6.3		6.7		26.6		20.9
Total Revenues from Contracts with Customers	328.3		296.4		1,012.6		959.2
Other operating revenues (2)	8.7		8.9		25.2		26.0
Total Operating Revenues	$	337.0	$	305.3	$	1,037.8	$	985.2

(1)Revenues earned from contracts with minimum volume commitments (MVCs) are included in firm service given the stand-ready nature of the performance obligation and the guaranteed nature of the fees over the contract term.

(2)Other operating revenues include certain revenues earned from operating leases, pipeline management fees and other activities that are not considered central and ongoing major business operations of the Company and do not represent revenues earned from contracts with customers.

Contract Balances

As of September 30, 2022, and December 31, 2021, the Company had receivables recorded in Trade Receivables, net from contracts with customers of $117.5 million and $126.2 million, contract assets recorded in Other Assets from contracts with a customer of $2.7 million and $2.3 million, and contract liabilities recorded in Other Current Liabilities (current portion) and Other Liabilities (noncurrent portion) from contracts with customers of $22.3 million and $19.2 million.

As of September 30, 2022, contract liabilities are expected to be recognized through 2040. Significant changes in the contract liability balances during the nine months ended September 30, 2022, were as follows (in millions):

	Contract Liabilities
Balance as of December 31, 2021(1)	$	19.2
Revenues recognized that were included in the contract liability     balances at the beginning of the period	(3.9)
Increases due to cash received, excluding amounts recognized as     revenues during the period	7.0
Balance as of September 30, 2022(1)	$	22.3

(1)As of September 30, 2022, and December 31, 2021, $3.2 million and $3.6 million were recorded in Other Current Liabilities (current portion), and $19.1 million and $15.6 million were recorded in Other Liabilities (noncurrent portion).

Significant changes in the contract liability balances during the nine months ended September 30, 2021, were as follows (in millions):

	Contract Liabilities
Balance as of December 31, 2020(1)	$	17.2
Revenues recognized that were included in the contract liability     balances at the beginning of the period	(4.2)
Increases due to cash received, excluding amounts recognized as     revenues during the period	5.8
Balance as of September 30, 2021(1)	$	18.8

(1)As of September 30, 2021, and December 31, 2020, $4.0 million and $4.9 million were recorded in Other Current Liabilities (current portion) and $14.8 million and $12.3 million were recorded in Other Liabilities (noncurrent portion).

Performance Obligations

The following table includes estimated operating revenues expected to be recognized in the future related to agreements that contain performance obligations that were unsatisfied as of September 30, 2022. The amounts presented primarily consist of fixed fees or MVCs which are typically recognized over time as the performance obligation is satisfied, in accordance with firm service contracts. For the Company's customers that are charged maximum tariff rates related to its Federal Energy Regulatory Commission regulated operating subsidiaries, the amounts below reflect the current tariff rate for such services for the term of the agreements; however, the tariff rates may be subject to future adjustment. The Company has elected to exclude the following from the table: (a) unsatisfied performance obligations from usage fees associated with its firm services because of the stand-ready nature of such services; and (b) consideration in contracts that is recognized in revenue as invoiced, such as for interruptible services. The estimated revenues reflected in the table may include estimated revenues that are anticipated under executed precedent transportation agreements for projects that are subject to regulatory approvals.

	In millions
	2022 (1)		2023		Thereafter		Total
Estimated revenues from contracts with customers     from unsatisfied performance obligations as of     September 30, 2022	$	327.5	$	1,172.5	$	7,162.0	$	8,662.0
Operating revenues which are fixed and     determinable (operating leases)	6.5		25.5		185.5		217.5
Total projected operating revenues under committed     firm agreements as of September 30, 2022	$	334.0	$	1,198.0	$	7,347.5	$	8,879.5

(1)The 2022 period is for the remaining three months ending December 31, 2022. For the nine months ended September 30, 2022, the Company recognized $895.9 million of fixed fee revenues for the fulfillment of performance obligations.