Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

The following tables present our revenues disaggregated by segment, revenue source, and type of revenue for each revenue source:


	Three Months Ended March 31, 2026
	Natural Gas Pipelines		Products Pipelines		Terminals		CO2		Corporate and Eliminations		Total
	(In millions)
Revenues from contracts with customers(a)
Services
Firm services	$	1,147	$	61	$	253	$	—	$	(1)	$	1,460
Fee-based services	330		264		101		14		(2)		707
Total services	1,477		325		354		14		(3)		2,167
Commodity sales
Natural gas sales	1,437		—		—		19		(2)		1,454
Product sales	215		312		18		243		(2)		786
Other sales	16		—		—		29		(1)		44
Total commodity sales	1,668		312		18		291		(5)		2,284
Total revenues from contracts with customers	3,145		637		372		305		(8)		4,451
Other revenues
Leasing services(b)	110		44		193		17		—		364
Derivatives adjustments on commodity sales	12		(1)		—		(38)		—		(27)
Other	29		7		—		4		—		40
Total other revenues	151		50		193		(17)		—		377
Total revenues	$	3,296	$	687	$	565	$	288	$	(8)	$	4,828


	Three Months Ended March 31, 2025
	Natural Gas Pipelines		Products Pipelines		Terminals		CO2		Corporate and Eliminations		Total
	(In millions)
Revenues from contracts with customers(a)
Services
Firm services	$	1,073	$	53	$	217	$	—	$	(1)	$	1,342
Fee-based services	301		257		101		10		(1)		668
Total services	1,374		310		318		10		(2)		2,010
Commodity sales
Natural gas sales	980		—		—		16		(2)		994
Product sales	262		301		16		243		(2)		820
Other sales	7		—		—		31		—		38
Total commodity sales	1,249		301		16		290		(4)		1,852
Total revenues from contracts with customers	2,623		611		334		300		(6)		3,862
Other revenues
Leasing services(b)	112		45		184		17		—		358
Derivatives adjustments on commodity sales	(3)		—		—		(10)		—		(13)
Other	22		7		—		5		—		34
Total other revenues	131		52		184		12		—		379
Total revenues	$	2,754	$	663	$	518	$	312	$	(6)	$	4,241

(a)Differences between the revenue presentation on the consolidated statements of income and the disaggregated revenues by type above are primarily attributable to revenues reflected in the “Other revenues” category above.

(b)Our revenues from leasing services are comprised of operating leases whereby we convey the right to control the use of an identified asset to a customer, including tanks, treating facilities, marine vessels, and gas equipment and pipelines with separate control locations.

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table presents our estimated revenue related to unsatisfied performance obligations representing fixed consideration primarily related to commodity sales or service contracts with take-or-pay or minimum volume commitments that we expect to recognize in future periods:


	Remaining 2026		2027		2028 and thereafter
	(In billions)
Estimated revenue as of March 31, 2026	$	4	$	5	$	26