Revenue Recognition (Notes)

6 Months Ended

Jun. 30, 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 June 30, 2020
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	355	$	271	$	(244)	$	382
Sales of NGLs and condensate (a)	758		282		(250)		790
Transportation, processing and other	11		98		—		109
Trading and marketing gains (losses), net (b)	26		(33)		—		(7)
Total operating revenues	$	1,150	$	618	$	(494)	$	1,274

	Six Months Ended June 30, 2020
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	766	$	597	$	(534)	$	829
Sales of NGLs and condensate (a)	1,641		669		(574)		1,736
Transportation, processing and other	24		197		—		221
Trading and marketing gains, net (b)	77		68		—		145
Total operating revenues	$	2,508	$	1,531	$	(1,108)	$	2,931

(a)   Includes $1,112 million and $1,703 million for the three and six months ended June 30, 2020, 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 FASB ASU 2014-09 “Revenue from Contracts with Customers” (Topic 606).

(b)   Not within the scope of Topic 606.

	Three Months Ended June 30, 2019
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	445	$	363	$	(320)	$	488
Sales of NGLs and condensate (a)	1,155		535		(519)		1,171
Transportation, processing and other	12		98		—		110
Trading and marketing gains, net (b)	1		28		—		29
Total operating revenues	$	1,613	$	1,024	$	(839)	$	1,798

	Six Months Ended June 30, 2019
	Logistics and Marketing		Gathering and Processing		Eliminations		Total
	(millions)
Sales of natural gas	$	1,082	$	920	$	(818)	$	1,184
Sales of NGLs and condensate (a)	2,558		1,183		(1,155)		2,586
Transportation, processing and other	24		201		—		225
Trading and marketing (losses) gains, net (b)	(6)		8		—		2
Total operating revenues	$	3,658	$	2,312	$	(1,973)	$	3,997

(a)   Includes $822 million and $1,680 million for the three and six months ended June 30, 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 $369 million as of June 30, 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 June 30, 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.