Revenue Recognition (Notes)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Products and Services [Table Text Block]

. Revenue Recognition

We disaggregate our revenue from contracts with customers by type of contract for each of our reportable segments, as we believe it best depicts the nature, timing and uncertainty of our revenue and cash flows. The following tables set forth our revenue by those categories:

	Three Months Ended March 31, 2020
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	411	$	326	$	(290)	$	447
Sales of NGLs and condensate (a)	883		387		(324)		946
Transportation, processing and other	13		99		—		112
Trading and marketing gains, net (b)	51		101		—		152
Total operating revenues	$	1,358	$	913	$	(614)	$	1,657

	Three Months Ended March 31, 2019
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	637	$	557	$	(498)	$	696
Sales of NGLs and condensate (a)	1,403		648		(636)		1,415
Transportation, processing and other	12		103		—		115
Trading and marketing losses, net (b)	(7)		(20)		—		(27)
Total operating revenues	$	2,045	$	1,288	$	(1,134)	$	2,199

(a)   Includes $591 million and $858 million for the three months ended March 31, 2020 and 2019, respectively, of revenues from physical sales contracts and buy-sell exchange transactions in our Logistics and Marketing segment, which are not within the scope of Topic 606.

(b)   Not within the scope of Topic 606.

The revenue expected to be recognized in the future related to performance obligations that are not satisfied is approximately $383 million as of March 31, 2020. Our remaining performance obligations primarily consist of minimum volume commitment fee arrangements and are expected to be recognized through 2028 with a weighted average remaining life of four years as of March 31, 2020. As a practical expedient permitted by Topic 606, this amount excludes variable consideration as well as remaining performance obligations that have original expected durations of one year or less, as applicable. Our remaining performance obligations also exclude estimates of variable rate escalation clauses in our contracts with customers.