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Revenue
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue Revenues
The following tables disaggregate total revenues by major source from contracts with customers and the gain (loss) on derivative activity for the three and nine months ended September 30, 2020 and 2019.
Three Months Ended September 30, 2020
Gathering and
Processing
Transportation
and Storage
EliminationsTotal
(In millions)
Revenues:
Product sales:
Natural gas
$58 $77 $(68)$67 
Natural gas liquids
208 2 (2)208 
Condensate
15 — — 15 
Total revenues from natural gas, natural gas liquids, and condensate
281 79 (70)290 
Loss on derivative activity
(10)— — (10)
Total Product sales$271 $79 $(70)$280 
Service revenues:
Demand revenues
$32 $116 $— $148 
Volume-dependent revenues
160 10 (2)168 
Total Service revenues$192 $126 $(2)$316 
Total Revenues$463 $205 $(72)$596 
Three Months Ended September 30, 2019
Gathering and
Processing
Transportation
and Storage
EliminationsTotal
(In millions)
Revenues:
Product sales:
Natural gas
$69 $95 $(69)$95 
Natural gas liquids
191 5 (5)191 
Condensate
26 — — 26 
Total revenues from natural gas, natural gas liquids, and condensate
286 100 (74)312 
Gain on derivative activity
8 — — 8 
Total Product sales$294 $100 $(74)$320 
Service revenues:
Demand revenues
$97 $119 $— $216 
Volume-dependent revenues
151 15 (3)163 
Total Service revenues$248 $134 $(3)$379 
Total Revenues$542 $234 $(77)$699 
Nine Months Ended September 30, 2020
Gathering and
Processing
Transportation
and Storage
EliminationsTotal
(In millions)
Revenues:
Product sales:
Natural gas
$161 $207 $(181)$187 
Natural gas liquids
523 7 (7)523 
Condensate
49 — — 49 
Total revenues from natural gas, natural gas liquids, and condensate
733 214 (188)759 
Gain (loss) on derivative activity
6 (1)— 5 
Total Product sales$739 $213 $(188)$764 
Service revenues:
Demand revenues
$105 $371 $— $476 
Volume-dependent revenues
487 38 (6)519 
Total Service revenues$592 $409 $(6)$995 
Total Revenues$1,331 $622 $(194)$1,759 
Nine Months Ended September 30, 2019
Gathering and
Processing
Transportation
and Storage
EliminationsTotal
(In millions)
Revenues:
Product sales:
Natural gas
$291 $365 $(305)$351 
Natural gas liquids
698 16 (16)698 
Condensate
93 — — 93 
Total revenues from natural gas, natural gas liquids, and condensate
1,082 381 (321)1,142 
Gain on derivative activity
14 — — 14 
Total Product sales$1,096 $381 $(321)$1,156 
Service revenues:
Demand revenues
$225 $373 $— $598 
Volume-dependent revenues
438 48 (11)475 
Total Service revenues$663 $421 $(11)$1,073 
Total Revenues$1,759 $802 $(332)$2,229 

MRT Rate Case Settlements

In June 2018, MRT filed a general NGA rate case (the 2018 Rate Case), and in October 2019, MRT filed a second rate case (the 2019 Rate Case). MRT began collecting the rates proposed in the 2018 Rate Case, subject to refund, on January 1, 2019. On March 26, 2020, FERC issued an order approving settlements filed in the 2018 Rate Case and the 2019 Rate Case. Upon issuance of the order and approval of the settlement of the MRT rate cases, the Partnership recognized $17 million of revenues from amounts previously held in reserve related to transportation and storage services performed in 2019. In May 2020, $21 million previously held in reserve was refunded to customers, which is inclusive of interest.
Accounts Receivable

The following table summarizes the components of accounts receivable, net of allowance for doubtful accounts.
September 30, 2020December 31, 2019
(In millions)
Accounts Receivable:
Customers$233 $239 
Contract assets (1)
3 18 
Non-customers5 12 
Total Accounts Receivable (2)
$241 $269 
____________________
(1)Contract assets reflected in Total Accounts Receivable include accrued minimum volume commitments. Contract assets are primarily attributable to revenues associated with estimated shortfall volumes on certain annual minimum volume commitment arrangements. Total Accounts Receivable does not include contract assets related to firm service transportation contracts with tiered rates of $9 million as of September 30, 2020 and $6 million as of December 31, 2019, which are reflected in Other Assets.
(2)Total Accounts Receivable includes Accounts receivable, net of allowance for doubtful accounts and Accounts receivable—affiliated companies.

Contract Liabilities

Our contract liabilities primarily consist of prepayments received from customers for which the good or service has not yet been provided in connection with the prepayment.

The table below summarizes the change in the contract liabilities.
September 30, 2020December 31, 2019Amounts recognized in revenues
(In millions)
Deferred revenues (1)
$44 $48 $23 

The table below summarizes the timing of recognition of these contract liabilities as of September 30, 2020.
20202021202220232024 and After
(In millions)
Deferred revenues (1)
$17 $7 $6 $6 $8 
____________________
(1)Deferred revenues includes deferred revenue—affiliated companies. This amount is included in Other current liabilities and Other long-term liabilities.

Remaining Performance Obligations

Our remaining performance obligations consist primarily of firm arrangements and minimum volume commitment arrangements. Upon completion of the performance obligations associated with these arrangements, customers are invoiced and revenue is recognized as Service revenues in the Condensed Consolidated Statements of Income. The table below summarizes the timing of recognition of the remaining performance obligations as of September 30, 2020.
20202021202220232024 and After
(In millions)
Transportation and Storage$119 $419 $350 $326 $1,187 
Gathering and Processing31 121 123 121 313 
Total remaining performance obligations$150 $540 $473 $447 $1,500