Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability [Table Text Block]

Contract Assets

The following table presents a reconciliation of our contract assets. There were no contract assets for the three and six months ended June 30, 2023.


	Three Months Ended June 30,		Six Months Ended June 30,
	2024			2024
	(Thousands)
Balance at beginning of period	$	—		$	—
Revenue Recognized in excess of amounts invoiced	3,203			3,203
Balance at end of period	$	3,203		$	3,203

Contract Liabilities

The following table presents a reconciliation of our contract liabilities:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(Thousands)
Balance at beginning of period	$	181,258	$	191,826	$	183,898	$	194,464
Recognized in revenue	(2,641)		(2,641)		(5,281)		(5,279)
Balance at end of period	$	178,617	$	189,185	$	178,617	$	189,185

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

The following table presents the amount of the contract liabilities balance expected to be recognized as revenue when performance obligations are satisfied and the transaction price allocated to the remaining performance obligations under certain contracts as of June 30, 2024.


	Contract Liabilities		Remaining Performance Obligations
	(Thousands)
2024 (six months)	$	5,286	$	1,290,945
2025 (one year)	10,566		2,416,027
2026 (one year)	10,566		2,277,516
2027 (one year)	10,566		1,947,736
2028 (one year)	10,568		1,563,644
Thereafter	131,065		9,601,461
Total	$	178,617	$	19,097,329

TRANSCONTINENTAL GAS PIPE LINE COMPANY, LLC 10-Q