ONEOK (OKE) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 24, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-13643
Entity Registrant Name	ONEOK, Inc.
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	73-1520922
Entity Address, Address Line One	100 West Fifth Street,
Entity Address, City or Town	Tulsa,
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74103
City Area Code	918
Local Phone Number	588-7000
Title of 12(b) Security	Common stock, par value of $0.01
Trading Symbol	OKE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		446,953,842
Entity Central Index Key	0001039684
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 5,913,531	$ 4,536,175	$ 17,354,861	$ 11,119,818
Cost of sales and fuel (exclusive of items shown separately below)	4,772,674	3,449,127	14,016,621	7,937,616
Operations and maintenance	238,414	225,364	683,507	644,841
Depreciation and amortization	157,102	154,542	468,717	468,583
General taxes	47,770	39,753	144,058	126,132
Other operating income (expense), net	1,630	470	8,649	1,446
Operating income	699,201	667,859	2,050,607	1,944,092
Equity in net earnings from investments (Note H)	39,180	28,573	111,150	87,613
Allowance for equity funds used during construction	734	247	1,699	1,485
Other income (expense), net	(8,296)	1,287	(31,142)	(4,228)
Interest expense (net of capitalized interest of $16,288, $6,083, $41,527 and $16,621, respectively)	(166,939)	(184,049)	(509,744)	(554,529)
Income before income taxes	563,880	513,917	1,622,570	1,474,433
Income taxes	(132,129)	(121,899)	(385,270)	(354,100)
Net income	431,751	392,018	1,237,300	1,120,333
Less: Preferred stock dividends	275	275	825	825
Net income available to common shareholders	$ 431,476	$ 391,743	$ 1,236,475	$ 1,119,508
Basic earnings per common share (Note G)	$ 0.96	$ 0.88	$ 2.76	$ 2.51
Diluted earnings per common share (Note G)	$ 0.96	$ 0.88	$ 2.76	$ 2.50
Average shares (thousands)
Basic	447,677	446,634	447,417	446,288
Diluted	448,217	447,635	448,268	447,117
Commodity Sales
Revenues
Revenues	$ 5,563,535	$ 4,204,792	$ 16,319,549	$ 10,115,674
Services
Revenues
Revenues	$ 349,996	$ 331,383	$ 1,035,312	$ 1,004,144

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Consolidated Statements of Income (Parenthetical) [Abstract]
Capitalized interest	$ 16,288	$ 6,083	$ 41,527	$ 16,621

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 431,751	$ 392,018	$ 1,237,300	$ 1,120,333
Other comprehensive income (loss), net of tax
Change in fair value of derivatives, net of tax of $(31,749), $39,299, $(16,951) and $81,134, respectively	106,289	(131,566)	56,747	(271,622)
Derivative amounts reclassified to net income, net of tax of $(16,116), $(19,845), $(56,876) and $(42,722), respectively	53,953	66,438	190,411	143,029
Change in retirement and other postretirement benefit plan obligations, net of tax of $(873), $(1,355), $(2,651) and $(4,009), respectively	2,922	4,538	8,874	13,423
Other comprehensive income of unconsolidated affiliates, net of tax of $(1,230), $(60), $(4,733) and $(1,429), respectively	4,118	197	15,846	4,783
Total other comprehensive income (loss), net of tax	167,282	(60,393)	271,878	(110,387)
Comprehensive income	$ 599,033	$ 331,625	$ 1,509,178	$ 1,009,946

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (PARANTHETICAL) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Change in fair value of derivatives, tax	$ (31,749)	$ 39,299	$ (16,951)	$ 81,134
Derivative amounts reclassified to net income, tax	(16,116)	(19,845)	(56,876)	(42,722)
Change in retirement and other postretirement benefit plan obligations, tax	(873)	(1,355)	(2,651)	(4,009)
Other Comprehensive Income (Loss), Portion Attributable to Equity Method Investments, Tax	$ (1,230)	$ (60)	$ (4,733)	$ (1,429)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 22,215	$ 146,391
Accounts receivable, net	1,729,192	1,441,786
Materials and supplies	155,158	153,019
NGLs and natural gas in storage	538,018	427,880
Commodity imbalances	39,526	39,609
Other current assets	281,213	165,689
Total current assets	2,765,322	2,374,374
Property, plant and equipment
Property, plant and equipment	24,727,153	23,820,539
Accumulated depreciation and amortization	4,937,352	4,500,665
Net property, plant and equipment	19,789,801	19,319,874
Investments and other assets
Investments in unconsolidated affiliates	803,807	797,613
Goodwill and net intangible assets	755,474	763,295
Other assets	324,839	366,457
Total investments and other assets	1,884,120	1,927,365
Total assets	24,439,243	23,621,613
Current liabilities
Current maturities of long-term debt (Note D)	925,000	895,814
Short-term borrowings (Note D)	901,277	0
Accounts payable	1,658,904	1,332,391
Commodity imbalances	254,076	309,054
Accrued interest	120,424	235,602
Operating lease liability, current	12,417	13,783
Other current liabilities	266,540	397,975
Total current liabilities	4,138,638	3,184,619
Long-term debt, excluding current maturities (Note D)	11,950,660	12,747,636
Deferred credits and other liabilities
Deferred income taxes	1,592,697	1,166,690
Operating lease liability, noncurrent	69,676	75,636
Other deferred credits	375,303	431,869
Total deferred credits and other liabilities	2,037,676	1,674,195
Commitments and contingencies (Note I)
Equity (Note E)
Preferred stock, $0.01 par value: authorized and issued 20,000 shares at September 30, 2022, and December 31, 2021	0	0
Common stock, $0.01 par value: authorized 1,200,000,000 shares; issued 474,916,234 shares and outstanding 446,947,691 shares at September 30, 2022; issued 474,916,234 shares and outstanding 446,138,177 shares at December 31, 2021	4,749	4,749
Paid-in capital	7,218,495	7,213,861
Accumulated other comprehensive loss (Note F)	(199,473)	(471,351)
Retained earnings	0	0
Treasury stock, at cost: 27,968,543 shares at September 30, 2022, and 28,778,057 shares at December 31, 2021	(711,502)	(732,096)
Total equity	6,312,269	6,015,163
Total liabilities and equity	$ 24,439,243	$ 23,621,613

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Equity (Note E)
Preferred stock, shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares, authorized (in shares)	20,000	20,000
Preferred stock, shares, issued (in shares)	20,000	20,000
Common stock, shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares, authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, shares, issued (in shares)	474,916,234	474,916,234
Common stock, shares, outstanding (in shares)	446,947,691	446,138,177
Treasury stock, shares, (in shares)	27,968,543	28,778,057

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 1,237,300	$ 1,120,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	468,717	468,583
Equity in net earnings from investments	(111,150)	(87,613)
Distributions received from unconsolidated affiliates	109,655	88,389
Deferred income taxes	344,812	344,808
Other, net	45,914	57,479
Changes in assets and liabilities:
Accounts receivable	(260,213)	(687,031)
NGLs and natural gas in storage, net of commodity imbalances	(165,033)	(280,839)
Accounts payable	296,510	756,072
Risk-management assets and liabilities	47,009	(254,163)
Other assets and liabilities, net	(148,015)	(34,856)
Cash provided by operating activities	1,865,506	1,491,162
Investing activities
Capital expenditures (less allowance for equity funds used during construction)	(886,041)	(490,329)
Distributions received from unconsolidated affiliates in excess of cumulative earnings	18,014	19,188
Other, net	4,171	(4,286)
Cash used in investing activities	(863,856)	(475,427)
Financing activities
Dividends paid	(1,253,402)	(1,250,204)
Short-term borrowings, net	901,277	0
Issuance of long-term debt	120,000	0
Repayment of long-term debt	(895,814)	(68,787)
Other, net	2,113	3,097
Cash used in financing activities	(1,125,826)	(1,315,894)
Change in cash and cash equivalents	(124,176)	(300,159)
Cash and cash equivalents at beginning of period	146,391	524,496
Cash and cash equivalents at end of period	$ 22,215	$ 224,337

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock
Shares, issued, beginning balance at Dec. 31, 2020		20,000	474,916,234
Total equity, beginning balance at Dec. 31, 2020	$ 6,042,398	$ 0	$ 4,749	$ 7,353,396	$ (551,449)	$ 0	$ (764,298)
Net income	386,176	0	0	0	0	386,176	0
Other comprehensive income (loss)	85,853	0	0	0	85,853	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	6,677	0	$ 0	(10,159)	0	0	16,836
Common Stock Dividends	(416,135)	0	0	(30,234)	0	(385,901)	0
Other, net	(7,729)	$ 0	$ 0	(7,729)	0	0	0
Shares, issued, ending balance at Mar. 31, 2021		20,000	474,916,234
Total equity, ending balance at Mar. 31, 2021	6,096,965	$ 0	$ 4,749	7,305,274	(465,596)	0	(747,462)
Shares, issued, beginning balance at Dec. 31, 2020		20,000	474,916,234
Total equity, beginning balance at Dec. 31, 2020	6,042,398	$ 0	$ 4,749	7,353,396	(551,449)	0	(764,298)
Net income	1,120,333
Other comprehensive income (loss)	(110,387)
Shares, issued, ending balance at Sep. 30, 2021		20,000	474,916,234
Total equity, ending balance at Sep. 30, 2021	5,840,875	$ 0	$ 4,749	7,235,255	(661,836)	0	(737,293)
Shares, issued, beginning balance at Mar. 31, 2021		20,000	474,916,234
Total equity, beginning balance at Mar. 31, 2021	6,096,965	$ 0	$ 4,749	7,305,274	(465,596)	0	(747,462)
Net income	342,139	0	0	0	0	342,139	0
Other comprehensive income (loss)	(135,847)	0	0	0	(135,847)	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	14,323	0	$ 0	7,115	0	0	7,208
Common Stock Dividends	(416,629)	0	0	(74,765)	0	(341,864)	0
Other, net	9,710	$ 0	$ 0	9,710	0	0	0
Shares, issued, ending balance at Jun. 30, 2021		20,000	474,916,234
Total equity, ending balance at Jun. 30, 2021	5,910,386	$ 0	$ 4,749	7,247,334	(601,443)	0	(740,254)
Net income	392,018	0	0	0	0	392,018	0
Other comprehensive income (loss)	(60,393)	0	0	0	(60,393)	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	6,198	0	$ 0	3,237	0	0	2,961
Common Stock Dividends	(416,947)	0	0	(25,204)	0	(391,743)	0
Other, net	9,888	$ 0	$ 0	9,888	0	0	0
Shares, issued, ending balance at Sep. 30, 2021		20,000	474,916,234
Total equity, ending balance at Sep. 30, 2021	5,840,875	$ 0	$ 4,749	7,235,255	(661,836)	0	(737,293)
Shares, issued, beginning balance at Dec. 31, 2021		20,000	474,916,234
Total equity, beginning balance at Dec. 31, 2021	6,015,163	$ 0	$ 4,749	7,213,861	(471,351)	0	(732,096)
Net income	391,171	0	0	0	0	391,171	0
Other comprehensive income (loss)	3,679	0	0	0	3,679	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	6,405	0	$ 0	(5,325)	0	0	11,730
Common Stock Dividends	(417,160)	0	0	(26,264)	0	(390,896)	0
Other, net	(5,289)	$ 0	$ 0	(5,289)	0	0	0
Shares, issued, ending balance at Mar. 31, 2022		20,000	474,916,234
Total equity, ending balance at Mar. 31, 2022	5,993,694	$ 0	$ 4,749	7,176,983	(467,672)	0	(720,366)
Shares, issued, beginning balance at Dec. 31, 2021		20,000	474,916,234
Total equity, beginning balance at Dec. 31, 2021	6,015,163	$ 0	$ 4,749	7,213,861	(471,351)	0	(732,096)
Net income	1,237,300
Other comprehensive income (loss)	271,878
Shares, issued, ending balance at Sep. 30, 2022		20,000	474,916,234
Total equity, ending balance at Sep. 30, 2022	6,312,269	$ 0	$ 4,749	7,218,495	(199,473)	0	(711,502)
Shares, issued, beginning balance at Mar. 31, 2022		20,000	474,916,234
Total equity, beginning balance at Mar. 31, 2022	5,993,694	$ 0	$ 4,749	7,176,983	(467,672)	0	(720,366)
Net income	414,378	0	0	0	0	414,378	0
Other comprehensive income (loss)	100,917	0	0	0	100,917	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	13,583	0	$ 0	7,039	0	0	6,544
Common Stock Dividends	(417,656)	0	0	(3,553)	0	(414,103)	0
Other, net	9,988	$ 0	$ 0	9,988	0	0	0
Shares, issued, ending balance at Jun. 30, 2022		20,000	474,916,234
Total equity, ending balance at Jun. 30, 2022	6,114,629	$ 0	$ 4,749	7,190,457	(366,755)	0	(713,822)
Net income	431,751	0	0	0	0	431,751	0
Other comprehensive income (loss)	167,282	0	0	0	167,282	0	0
Preferred stock dividends	(275)	0	$ 0	0	0	(275)	0
Common Stock Issued During Period, Shares, Other			0
Common Stock Issued During Period, Value, Other	6,021	0	$ 0	3,701	0	0	2,320
Common Stock Dividends	(417,921)	0	0	13,555	0	(431,476)	0
Other, net	10,782	$ 0	$ 0	10,782	0	0	0
Shares, issued, ending balance at Sep. 30, 2022		20,000	474,916,234
Total equity, ending balance at Sep. 30, 2022	$ 6,312,269	$ 0	$ 4,749	$ 7,218,495	$ (199,473)	$ 0	$ (711,502)

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Parenthetical - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Preferred stock, dividends paid (in dollars per share)	$ 13.75	$ 13.75	$ 13.75	$ 13.75	$ 13.75	$ 13.75
Common stock dividends paid (in dollars per share)	$ 0.935	$ 0.935	$ 0.935	$ 0.935	$ 0.935	$ 0.935

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Our accompanying unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the SEC. These statements have been prepared in accordance with GAAP and reflect all adjustments that, in our opinion, are necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The 2021 year-end Consolidated Balance Sheet data was derived from our audited Consolidated Financial Statements but does not include all disclosures required by GAAP. Certain reclassifications have been made in the prior year Consolidated Financial Statements to conform to the current year presentation. These unaudited Consolidated Financial Statements should be read in conjunction with our audited Consolidated Financial Statements in our Annual Report. Goodwill Impairment Review - We assess our goodwill for impairment at least annually as of July 1, unless events or changes in circumstances indicate an impairment may have occurred before that time. At July 1, 2022, we assessed qualitative factors to determine whether it was more likely than not that the fair value of reporting units with goodwill are less than their carrying amount. After assessing qualitative factors (including macroeconomic conditions, industry and market considerations, costs and overall financial performance), we determined that it was more likely than not that the fair value of the Natural Gas Pipelines and Natural Gas Liquids reporting units were not less than their respective carrying value, that no further testing was necessary and that goodwill was not considered impaired. Medford Incident - On July 9, 2022, a fire occurred at our 210 MBbl/d Medford, Oklahoma, natural gas liquids fractionation facility. All personnel were safe and accounted for with evacuations of local residents taken as a precautionary measure. While the facility remains inoperable, we continue to provide midstream services through our integrated NGL pipeline system between the Mid-Continent and Gulf Coast regions, along with our fractionation and storage assets and arrangements with industry peers. We are cooperating with government agencies, as applicable, and we continue our efforts to determine the cause of the event and expect the Medford facility to remain out of service for an extended period. Subject to the terms and conditions of our insurance policies and any applicable sub-limits, we have property damage and business interruption coverage with a combined per occurrence limit of $2 billion and deductibles of $5 million per occurrence for property damage and a 45-day waiting period per occurrence for business interruption coverage. As a result of our insurance coverage, we do not expect the Medford incident will have a material effect on our financial condition, results of operations or cash flows. However, the timing of insurance proceeds may impact our results in a given quarter or year. In September 2022, we received notice that our insurers agreed to pay an unallocated first installment of insurance proceeds of $100 million. As of November 2, 2022, we have received approximately $45 million of this amount and expect to receive the remainder within the next 30 days. We have applied the cash received to the outstanding insurance receivables discussed below. In third quarter 2022, we recorded a partial impairment charge of $6.7 million, which represents the value associated with certain Medford facility property, based on our limited assessments to date and related estimates and assumptions. We recorded a receivable of $6.7 million that was probable of recovery and fully offsets our property losses. Any insurance proceeds attributable to property damage in excess of our recognized property losses are considered a gain contingency and not recognized until realizable. Our business interruption insurance provides coverage including, but not limited to (i) incurred costs and losses that are either unavoidable or incurred to mitigate or reduce losses and (ii) lost earnings. We record receivables for incurred costs and losses related to our business interruption coverage for the amount probable of recovery, not to exceed the actual losses incurred. Lost earnings claims under our business interruption coverage are considered a gain contingency and not recognized until realizable. In the three and nine months ended September 30, 2022, we recorded receivables of $21.7 million, related primarily to third-party fractionation costs incurred subsequent to the 45-day business interruption waiting period, that are probable of recovery, with an offset to the income statement where the actual losses incurred were recorded. The following table sets forth the impact of this business interruption insurance by income statement caption for the three and nine months ended September 30, 2022: September 30, 2022 (Thousands of dollars) Commodity sales revenue (a) $ 17,618 Services revenue $ 1,249 Cost of sales and fuel $ 2,856 (a) - Represents third-party fractionation costs. Pursuant to ASC 606 our third-party fractionation agreements are considered commodity sales contracts as a third-party assumed control of the NGL raw feed prior to performing the fractionation services. Therefore, incurred costs associated with these third-party fractionation agreements were recorded as a reduction of the commodity sales price in commodity sales rather than as costs of sales and fuel.

FAIR VALUE MEASUREMENTS (Notes)

FAIR VALUE MEASUREMENTS (Notes)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Determining Fair Value - For our fair value measurements, we utilize market prices, third-party pricing services, present value methods and standard option valuation models to determine the price we would receive from the sale of an asset or the transfer of a liability in an orderly transaction at the measurement date. We measure the fair value of a group of financial assets and liabilities consistent with how a market participant would price the net risk exposure at the measurement date. Many of the contracts in our derivative portfolio are executed in liquid markets where price transparency exists. Our financial commodity derivatives are generally settled through a NYMEX or ICE clearing broker account with daily margin requirements. We validate our valuation inputs with third-party information and settlement prices from other sources, where available. We compute the fair value of our derivative portfolio by discounting the projected future cash flows from our derivative assets and liabilities to present value using interest-rate yields to calculate present-value discount factors derived from the implied forward SOFR, LIBOR or other yield curve, as appropriate. The fair value of our forward-starting interest-rate swaps is determined using financial models that incorporate the implied forward LIBOR yield curve for the same period as the future interest-rate swap settlements. We consider current market data in evaluating counterparties’, as well as our own, nonperformance risk, net of collateral, by using counterparty-specific bond yields. Although we use our best estimates to determine the fair value of the derivative contracts we have executed, the ultimate market prices realized could differ materially from our estimates. Fair Value Hierarchy - At each balance sheet date, we utilize a fair value hierarchy to classify fair value amounts recognized or disclosed in our financial statements based on the observability of inputs used to estimate such fair value. The levels of the hierarchy are described below: • Level 1 - fair value measurements are based on unadjusted quoted prices for identical securities in active markets. These balances are composed predominantly of exchange-traded derivative contracts for natural gas and crude oil. • Level 2 - fair value measurements are based on significant observable pricing inputs, including quoted prices for similar assets and liabilities in active markets and inputs from third-party pricing services supported with corroborative evidence. These balances are composed of exchange-cleared derivatives to hedge natural gas basis and NGL price risk at certain market locations and over-the-counter interest-rate derivatives. • Level 3 - fair value measurements are based on inputs that may include one or more unobservable inputs, including internally developed commodity price curves that incorporate market data from broker quotes and third-party pricing services. These balances are composed predominantly of exchange-cleared and over-the-counter derivatives to hedge NGL price risk at certain market locations. These commodity derivatives are generally valued using forward quotes provided by third-party pricing services that are validated with other market data. We believe any measurement uncertainty at September 30, 2022, is immaterial as our Level 3 fair value measurements are based on unadjusted pricing information from broker quotes and third-party pricing services. Determining the appropriate classification of our fair value measurements within the fair value hierarchy requires management’s judgment regarding the degree to which market data is observable or corroborated by observable market data. We categorize derivatives based on the lowest level input that is significant to the fair value measurement in its entirety. Recurring Fair Value Measurements - The following tables set forth our recurring fair value measurements for the periods indicated: September 30, 2022 Level 1 Level 2 Level 3 Total - Gross Netting (a) Total - Net ( Thousands of dollars ) Derivative assets Commodity contracts Financial contracts $ 10,959 $ 134,356 $ 91,384 $ 236,699 $ (236,699) $ — Interest-rate contracts — 67,377 — 67,377 — 67,377 Total derivative assets $ 10,959 $ 201,733 $ 91,384 $ 304,076 $ (236,699) $ 67,377 Derivative liabilities Commodity contracts Financial contracts $ (112,578) $ (104,047) $ (40,132) $ (256,757) $ 256,757 $ — Total derivative liabilities $ (112,578) $ (104,047) $ (40,132) $ (256,757) $ 256,757 $ — (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheet on a net basis. We net derivative assets and liabilities when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us. At September 30, 2022, we held no cash and posted $110.0 million of cash with various counterparties, including $20.1 million of cash collateral that is offsetting derivative net liability positions under master-netting arrangements in the table above. The remaining $89.9 million of cash collateral in excess of derivative net liability positions is included in other current assets in our Consolidated Balance Sheet. December 31, 2021 Level 1 Level 2 Level 3 Total - Gross Netting (a) Total - Net ( Thousands of dollars ) Derivative assets Commodity contracts Financial contracts $ 22,019 $ 172,833 $ 9,309 $ 204,161 $ (204,161) $ — Total derivative assets $ 22,019 $ 172,833 $ 9,309 $ 204,161 $ (204,161) $ — Derivative liabilities Commodity contracts Financial contracts $ (67,226) $ (112,922) $ (123,592) $ (303,740) $ 303,740 $ — Interest-rate contracts — (145,524) — (145,524) — (145,524) Total derivative liabilities $ (67,226) $ (258,446) $ (123,592) $ (449,264) $ 303,740 $ (145,524) (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheet on a net basis. We net derivative assets and liabilities when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us. At December 31, 2021, we held no cash and posted $157.0 million of cash with various counterparties, including $99.6 million of cash collateral that is offsetting derivative net liability positions under master-netting arrangements in the table above. The remaining $57.4 million of cash collateral in excess of derivative net liability positions is included in other current assets in our Consolidated Balance Sheet. The following table sets forth a reconciliation of our Level 3 fair value measurements for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, Derivative Assets (Liabilities) 2022 2021 2022 2021 ( Thousands of dollars ) Net liabilities at beginning of period $ (110,396) $ (121,750) $ (114,283) $ (31,321) Total changes in fair value: Settlements included in net income (a) 39,446 46,797 78,932 28,028 New Level 3 derivatives included in other comprehensive income (loss) (b) (360) (23,151) 73,168 (129,805) Unrealized change included in other comprehensive income (loss) (b) 122,562 (69,104) 13,435 (34,110) Net assets (liabilities) at end of period $ 51,252 $ (167,208) $ 51,252 $ (167,208) (a) - Included in commodity sales revenues/cost of sales and fuel in our Consolidated Statements of Income. (b) - Included in change in fair value of derivatives in our Consolidated Statements of Comprehensive Income. During the three and nine months ended September 30, 2022 and 2021, there were no transfers in or out of Level 3 of the fair value hierarchy. Other Financial Instruments - The approximate fair value of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings is equal to book value due to the short-term nature of these items. Our cash and cash equivalents are composed of bank and money market accounts and are classified as Level 1. Our short-term borrowings are classified as Level 2 since the estimated fair value of the short-term borrowings can be determined using information available in the commercial paper market. We have investments associated with our supplemental executive retirement plan and nonqualified deferred compensation plan that are carried at fair value and primarily are composed of exchange-traded mutual funds classified as Level 1. The estimated fair value of our consolidated long-term debt, including current maturities, was $11.5 billion and $15.6 billion at September 30, 2022, and December 31, 2021, respectively. The book value of our consolidated long-term debt, including current maturities, was $12.9 billion and $13.6 billion at September 30, 2022, and December 31, 2021, respectively. The estimated fair value of the aggregate senior notes outstanding was determined using quoted market prices for similar issues with similar terms and maturities. The estimated fair value of our consolidated long-term debt is classified as Level 2.

RISK MANAGEMENT AND HEDGING ACT

RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES (Notes)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES	RISK-MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES Risk-management Activities - We are sensitive to changes in natural gas, crude oil and NGL prices, principally as a result of contractual terms under which these commodities are processed, purchased and sold. We are also subject to the risk of interest-rate fluctuation in the normal course of business. We use physical-forward purchases and sales and financial derivatives to secure a certain price for a portion of our natural gas, condensate and NGL products; to reduce our exposure to commodity price and interest-rate fluctuations; and to achieve more predictable cash flows. We follow established policies and procedures to assess risk and approve, monitor and report our risk-management activities. We have not used these instruments for trading purposes. Commodity price risk - Commodity price risk refers to the risk of loss in cash flows and future earnings arising from adverse changes in the price of natural gas, NGLs and condensate. We may use the following commodity derivative instruments to reduce the near-term commodity price risk associated with a portion of the forecasted sales of these commodities: • Futures contracts - Standardized contracts to purchase or sell natural gas and crude oil for future delivery or settlement under the provisions of exchange regulations; • Forward contracts - Nonstandardized commitments between two parties to purchase or sell natural gas, crude oil or NGLs for future physical delivery. These contracts are typically nontransferable and can only be canceled with the consent of both parties; • Swaps - Exchange of one or more payments based on the value of one or more commodities. These instruments transfer the financial risk associated with a future change in value between the counterparties of the transaction, without also conveying ownership interest in the asset or liability; • Options - Contractual agreements that give the holder the right, but not the obligation, to buy or sell a fixed quantity of a commodity at a fixed price within a specified period of time. Options may either be standardized and exchange-traded or customized and nonexchange-traded; and • Collars - Combination of a purchased put option and a sold call option, which places a floor and ceiling price for commodity sales being hedged. We may also use other instruments to mitigate commodity price risk. In our Natural Gas Gathering and Processing segment, we are exposed to commodity price risk as a result of retaining a portion of the commodity sales proceeds associated with our fee with POP contracts. Under certain fee with POP contracts, our fees and POP percentage may increase or decrease if production volumes, delivery pressures or commodity prices change relative to specified thresholds. In certain commodity price environments, our contractual fees on these fee with POP contracts may increase or decrease, which would impact the average fee rate in our Natural Gas Gathering and Processing segment. We also are exposed to basis risk between the various production and market locations where we buy and sell commodities. As part of our hedging strategy, we use the previously described commodity derivative financial instruments and physical-forward contracts to reduce the impact of price fluctuations related to natural gas, NGLs and condensate. In our Natural Gas Liquids segment, we are primarily exposed to commodity price risk resulting from the relative values of the various NGL products to each other, the value of NGLs in storage and the relative value of NGLs to natural gas. We are also exposed to location price differential risk as a result of the relative value of NGL purchases at one location and sales at another location, primarily related to our optimization and marketing activities. As part of our hedging strategy, we utilize physical-forward contracts and commodity derivative financial instruments to reduce the impact of price fluctuations related to NGLs. In our Natural Gas Pipelines segment, we are primarily exposed to commodity price risk on our intrastate pipelines because they consume natural gas in operations and retain natural gas from our customers for operations or as part of our fee for services provided. When the amount consumed in operations differs from the amount provided by our customers, our pipelines must buy or sell natural gas, or store or use natural gas inventory, which can expose this segment to commodity price risk depending on the regulatory treatment for this activity. To the extent that commodity price risk in our Natural Gas Pipelines segment is not mitigated by fuel cost-recovery mechanisms, we may use physical-forward sales or purchases to reduce the impact of natural gas price fluctuations. At September 30, 2022, and December 31, 2021, there were no financial derivative instruments with respect to our natural gas pipeline operations. Interest-rate risk - We may manage interest-rate risk through the use of fixed-rate debt, floating-rate debt and interest-rate swaps. Interest-rate swaps are agreements to exchange interest payments at some future point based on specified notional amounts. At September 30, 2022, and December 31, 2021, we had forward-starting interest-rate swaps with notional amounts totaling $1.1 billion to hedge the variability of interest payments on a portion of our forecasted debt issuances. All of our interest-rate swaps are designated as cash flow hedges. Fair Values of Derivative Instruments - See Note B for a discussion of the inputs associated with our fair value measurements. The following table sets forth the fair values of our derivative instruments presented on a gross basis for the periods indicated: September 30, 2022 December 31, 2021 Location in our Assets (Liabilities) Assets (Liabilities) Derivatives designated as hedging instruments ( Thousands of dollars ) Commodity contracts (a) Financial contracts (b) $ 236,699 $ (256,757) $ 204,161 $ (303,740) Interest-rate contracts Other current assets/liabilities 67,377 — — (145,524) Total derivatives designated as hedging instruments $ 304,076 $ (256,757) $ 204,161 $ (449,264) (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheets on a net basis when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us. (b) - At September 30, 2022, and December 31, 2021, our derivative net liability positions under master-netting arrangements for financial contracts were fully offset by cash collateral of $20.1 million and $99.6 million, respectively. Notional Quantities for Derivative Instruments - The following table sets forth the notional quantities for derivative instruments held for the periods indicated: September 30, December 31 Contract Net Purchased/Payor Derivatives designated as hedging instruments: Cash flow hedges Fixed price - Natural gas ( Bcf ) Futures (46.4) (32.3) - Crude oil and NGLs ( MMBbl ) Futures (12.4) (10.0) Basis - Natural gas ( Bcf ) Futures (46.3) (30.5) Interest-rate contracts ( Billions of dollars ) Swaps $ 1.1 $ 1.1 Cash Flow Hedges - The following table sets forth the unrealized change in fair value of cash flow hedges in other comprehensive income (loss) for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Commodity contracts $ 69,430 $ (171,665) $ (139,203) $ (410,572) Interest-rate contracts 68,608 800 212,901 57,816 Total unrealized change in fair value of cash flow hedges in other comprehensive income (loss) $ 138,038 $ (170,865) $ 73,698 $ (352,756) The following table sets forth the effect of cash flow hedges on net income for the periods indicated: Derivatives in Cash Flow Location of Gain (Loss) Reclassified from Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Commodity contracts Commodity sales revenues $ (77,938) $ (223,741) $ (546,506) $ (439,421) Cost of sales and fuel 17,479 147,360 327,782 283,153 Interest-rate contracts Interest expense (9,610) (9,902) (28,563) (29,483) Total change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives $ (70,069) $ (86,283) $ (247,287) $ (185,751) Credit Risk - We monitor the creditworthiness of our counterparties and compliance with policies and limits established by our Risk Oversight and Strategy Committee. We maintain credit policies with regard to our counterparties that we believe minimize overall credit risk. These policies include an evaluation of potential counterparties’ financial condition (including credit ratings, bond yields and credit default swap rates), collateral requirements under certain circumstances and the use of standardized master-netting agreements that allow us to net the positive and negative exposures associated with a single counterparty. We use internally developed credit ratings for counterparties that do not have a credit rating. Our financial commodity derivatives are generally settled through a NYMEX or ICE clearing broker account with daily margin requirements. However, we may enter into financial derivative instruments that contain provisions that require us to maintain an investment-grade credit rating from S&P, Fitch and/or Moody’s. If our credit ratings on our senior unsecured long-term debt were to decline below investment grade, the counterparties to the derivative instruments could request collateralization on derivative instruments in net liability positions. There were no financial derivative instruments with contingent features related to credit risk at September 30, 2022. The counterparties to our derivative contracts typically consist of major energy companies, financial institutions and commercial and industrial end users. This concentration of counterparties may affect our overall exposure to credit risk, either positively or negatively, in that the counterparties may be affected similarly by changes in economic, regulatory or other conditions. Based on our policies, exposures, credit and other reserves, we do not anticipate a material adverse effect on our financial position or results of operations as a result of counterparty nonperformance. At September 30, 2022, the credit exposure from our derivative assets is with investment-grade companies in the financial services sector.

DEBT DEBT (Notes)

DEBT DEBT (Notes)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt [Text Block]	DEBT The following table sets forth our consolidated debt for the periods indicated: September 30, December 31, ( Thousands of dollars ) Commercial paper outstanding, bearing a weighted average interest rate of 3.8% as of September 30, 2022 $ 901,277 $ — Senior unsecured obligations: $900,000 at 3.375% due October 2022 — 895,814 $425,000 at 5.0% due September 2023 425,000 425,000 $500,000 at 7.5% due September 2023 500,000 500,000 $500,000 at 2.75% due September 2024 500,000 500,000 $500,000 at 4.9% due March 2025 500,000 500,000 $400,000 at 2.2% due September 2025 387,000 387,000 $600,000 at 5.85% due January 2026 600,000 600,000 $500,000 at 4.0% due July 2027 500,000 500,000 $800,000 at 4.55% due July 2028 800,000 800,000 $100,000 at 6.875% due September 2028 100,000 100,000 $700,000 at 4.35% due March 2029 700,000 700,000 $750,000 at 3.4% due September 2029 714,251 714,251 $850,000 at 3.1% due March 2030 780,093 780,093 $600,000 at 6.35% due January 2031 600,000 600,000 $400,000 at 6.0% due June 2035 400,000 400,000 $600,000 at 6.65% due October 2036 600,000 600,000 $600,000 at 6.85% due October 2037 600,000 600,000 $650,000 at 6.125% due February 2041 650,000 650,000 $400,000 at 6.2% due September 2043 400,000 400,000 $700,000 at 4.95% due July 2047 689,006 689,006 $1,000,000 at 5.2% due July 2048 1,000,000 1,000,000 $750,000 at 4.45% due September 2049 672,530 672,530 $500,000 at 4.5% due March 2050 443,015 443,015 $300,000 at 7.15% due January 2051 300,000 300,000 Guardian Pipeline $120,000 term loan, variable rate, due June 2025 120,000 — Total debt 13,882,172 13,756,709 Unamortized portion of terminated swaps 10,308 11,596 Unamortized debt issuance costs and discounts (115,543) (124,855) Current maturities of long-term debt (925,000) (895,814) Short-term borrowings (a) (901,277) — Long-term debt $ 11,950,660 $ 12,747,636 (a) - Individual issuances of commercial paper under our commercial paper program generally mature in 90 days or less. $2.5 Billion Credit Agreement - In June 2022, we amended and restated our $2.5 Billion Credit Agreement, extending its maturity to June 2027. Our $2.5 Billion Credit Agreement is a revolving credit facility and contains certain customary conditions for borrowing, as well as customary financial, affirmative and negative covenants. Among other things, beginning in June 2022, these covenants include maintaining a ratio of consolidated net indebtedness to adjusted EBITDA (EBITDA, as defined in our $2.5 Billion Credit Agreement, adjusted for all noncash charges and increased for projected EBITDA from certain lender-approved capital expansion projects). In the first quarter 2022, we acquired assets for $30 million, which allowed us to elect an acquisition adjustment period under our $2.5 Billion Credit Agreement and, as a result, increased our leverage ratio covenant to 5.5 to 1 for the first quarter 2022 and the two following quarters. Thereafter, the covenant will decrease to 5.0 to 1. As of September 30, 2022, we had no outstanding borrowings, our ratio of consolidated net indebtedness to adjusted EBITDA was 3.9 to 1, and we were in compliance with all covenants under our $2.5 Billion Credit Agreement. The $2.5 Billion Credit Agreement includes a $100 million sublimit for the issuance of standby letters of credit and a $200 million sublimit for swingline loans. Under the terms of the $2.5 Billion Credit Agreement, we may request up to an aggregate $1.0 billion increase in the size of the facility, upon satisfaction of customary conditions, including receipt of commitments from new lenders or increased commitments from existing lenders. The $2.5 Billion Credit Agreement contains provisions for an applicable margin rate and an annual facility fee, both of which adjust with changes in our credit ratings. Borrowings, if any, will accrue at Term SOFR plus an applicable margin based on our credit ratings at the time of determination plus an adjustment of 10 basis points. Under our current credit ratings, the applicable margin on any borrowings would be 110 basis points. We are required to pay an annual facility fee equal to the daily amount of aggregate commitments under the $2.5 Billion Credit Agreement times an applicable rate based on our credit rating at the time of determination. Under our current credit ratings, the applicable rate is 15 basis points. We have the option to request two one-year maturity extensions, subject to lender approvals. The $2.5 Billion Credit Agreement also contains various customary events of default, the occurrence of which could result in a termination of the lenders’ commitments and the acceleration of all of our obligations thereunder. Guardian Term Loan Agreement - In June 2022, Guardian Pipeline entered into a $120 million unsecured term loan agreement. The Guardian Term Loan Agreement matures in June 2025, and bears interest at Term SOFR plus an applicable margin based on Guardian Pipeline’s credit rating at the time of determination plus an adjustment of 10 basis points. Under Guardian Pipeline’s current credit ratings, the applicable margin is 112.5 basis points. The Guardian Term Loan Agreement allows prepayment of all or any portion outstanding without penalty or premium. During the second quarter 2022, Guardian Pipeline drew the full $120 million available under the agreement and used the proceeds to repay intercompany debt with ONEOK. The Guardian Term Loan Agreement contains certain affirmative and negative covenants, as well as customary events of default, the occurrence of which could result in a termination of lenders’ commitments and the accelerations of all of Guardian Pipeline’s obligations thereunder. Guardian Pipeline is in compliance with all covenants under the Guardian Term Loan Agreement. Debt Repayments - In July 2022, we redeemed the remaining $895.8 million of our $900 million, 3.375% senior notes due October 2022 at 100% of the principal amount, plus accrued and unpaid interest, with cash on hand and short-term borrowings. Debt Guarantees - ONEOK, ONEOK Partners and the Intermediate Partnership have cross guarantees in place for ONEOK’s and ONEOK Partners’ indebtedness. The Guardian Term Loan Agreement is not guaranteed by ONEOK, ONEOK Partners or the Intermediate Partnership.

EQUITY (Notes)

EQUITY (Notes)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
EQUITY	EQUITY Dividends - Holders of our common stock share equally in any dividend declared by our Board of Directors, subject to the rights of the holders of outstanding Series E Preferred Stock. Dividends paid on our common stock in February 2022, May 2022 and August 2022 were $0.935 per share. A common stock dividend of $0.935 per share was declared for shareholders of record at the close of business on November 1, 2022, payable November 14, 2022. Our Series E Preferred Stock pays quarterly dividends on each share of Series E Preferred Stock, when, as and if declared by our Board of Directors, at a rate of 5.5% per year. We paid dividends for the Series E Preferred Stock of $0.3 million in February 2022, May 2022, and August 2022. Dividends totaling $0.3 million were declared for the Series E Preferred Stock and are payable November 14, 2022.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Notes)	9 Months Ended
	Sep. 30, 2022
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table sets forth the balance in accumulated other comprehensive loss for the period indicated, net of tax: Risk- Retirement and Risk- Accumulated ( Thousands of dollars ) January 1, 2022 $ (352,315) $ (107,659) $ (11,377) $ (471,351) Other comprehensive income before reclassifications 56,747 170 14,958 71,875 Amounts reclassified to net income (b) 190,411 8,704 888 200,003 Other comprehensive income 247,158 8,874 15,846 271,878 September 30, 2022 $ (105,157) $ (98,785) $ 4,469 $ (199,473) (a) - Includes amounts related to supplemental executive retirement plan. (b) - See Note C for details of amounts reclassified to net income for risk-management assets/liabilities. The following table sets forth information about the balance of accumulated other comprehensive loss at September 30, 2022, representing unrealized gains (losses) related to risk-management assets and liabilities, net of tax: Risk- ( Thousands of dollars ) Commodity derivative instruments expected to be realized within the next 27 months (a) $ (15,711) Settled interest-rate swaps to be recognized over the life of the long-term, fixed-rate debt (b) (141,326) Interest-rate swaps with future settlement dates expected to be amortized over the life of long-term debt 51,880 Accumulated other comprehensive loss at September 30, 2022 $ (105,157) (a) - Based on commodity prices on September 30, 2022, we expect net losses of $14.7 million, net of tax, will be reclassified into earnings during the next 12 months. (b) - We expect net losses of $19.0 million, net of tax, will be reclassified into earnings during the next 12 months. The remaining amounts in accumulated other comprehensive loss relate primarily to our retirement and other postretirement benefit plan obligations, which are expected to be amortized over the average remaining service period of employees participating in these plans.

EARNINGS PER SHARE EARNINGS PER

EARNINGS PER SHARE EARNINGS PER SHARE (Notes)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	EARNINGS PER SHARE The following tables set forth the computation of basic and diluted EPS for the periods indicated: Three Months Ended September 30, 2022 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 431,476 447,677 $ 0.96 Diluted EPS Effect of dilutive securities — 540 Net income available for common stock and common stock equivalents $ 431,476 448,217 $ 0.96 Three Months Ended September 30, 2021 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 391,743 446,634 $ 0.88 Diluted EPS Effect of dilutive securities — 1,001 Net income available for common stock and common stock equivalents $ 391,743 447,635 $ 0.88 Nine Months Ended September 30, 2022 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 1,236,475 447,417 $ 2.76 Diluted EPS Effect of dilutive securities — 851 Net income available for common stock and common stock equivalents $ 1,236,475 448,268 $ 2.76 Nine Months Ended September 30, 2021 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 1,119,508 446,288 $ 2.51 Diluted EPS Effect of dilutive securities — 829 Net income available for common stock and common stock equivalents $ 1,119,508 447,117 $ 2.50

UNCONSOLIDATED AFFILIATES (Note

UNCONSOLIDATED AFFILIATES (Notes)	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
UNCONSOLIDATED AFFILIATES	UNCONSOLIDATED AFFILIATES Equity in Net Earnings from Investments - The following table sets forth our equity in net earnings from investments for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Thousands of dollars) Northern Border Pipeline $ 16,744 $ 14,634 $ 53,216 $ 47,459 Roadrunner 9,600 8,056 28,041 23,407 Overland Pass Pipeline 10,486 5,241 23,379 12,952 Other 2,350 642 6,514 3,795 Equity in net earnings from investments $ 39,180 $ 28,573 $ 111,150 $ 87,613 We incurred expenses in transactions with unconsolidated affiliates of $25.4 million and $16.2 million for the three months ended September 30, 2022 and 2021, respectively, and $55.5 million and $44.2 million for the nine months ended September 30, 2022 and 2021, respectively, primarily related to Northern Border Pipeline and Overland Pass Pipeline. Revenue earned and accounts receivable from, and accounts payable to, our equity-method investees were not material. We have an operating agreement with Roadrunner that provides for reimbursement or payment to us for management services and certain operating costs. Reimbursements and payments from Roadrunner included in operating income in our Consolidated Statements of Income for all periods presented were not material.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Notes)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental Matters and Pipeline Safety - The operation of pipelines, plants and other facilities for the gathering, processing, fractionation, transportation and storage of natural gas, NGLs, condensate and other products is subject to numerous and complex laws and regulations pertaining to health, safety and the environment. As an owner and/or operator of these facilities, we must comply with laws and regulations that relate to air and water quality, hazardous and solid waste management and disposal, cultural resource protection and other environmental and safety matters. The cost of planning, designing, constructing and operating pipelines, plants and other facilities must incorporate compliance with these laws, regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements and the issuance of injunctions or restrictions on operation or construction. Management does not believe that, based on currently known information, a material risk of noncompliance with these laws and regulations exists that will affect adversely our consolidated results of operations, financial condition or cash flows. Legal Proceedings - We are a party to various legal proceedings that have arisen in the normal course of our operations. While the results of these proceedings cannot be predicted with certainty, we believe the reasonably possible losses from such proceedings, individually and in the aggregate, are not material. Additionally, we believe the probable final outcome of such proceedings will not have a material adverse effect on our consolidated results of operations, financial position or cash flows.

REVENUE REVENUE (Notes)

REVENUE REVENUE (Notes)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUES Contract Assets and Contract Liabilities - Our contract asset balances at the beginning and end of the period primarily relate to our firm service transportation and storage contracts with tiered rates, which are not material. The following table sets forth the balances in contract liabilities for the periods indicated: Contract Liabilities ( Millions of dollars ) Balance at December 31, 2021 (a) $ 51.5 Revenue recognized included in beginning balance (34.7) Net additions 46.6 Balance at September 30, 2022 (b) $ 63.4 (a) - Contract liabilities of $35.3 million and $16.2 million are included in other current liabilities and other deferred credits, respectively, in our Consolidated Balance Sheet. (b) - Contract liabilities of $34.6 million and $28.8 million are included in other current liabilities and other deferred credits, respectively, in our Consolidated Balance Sheet. Receivables from Customers and Revenue Disaggregation - Substantially all of the balances in accounts receivable on our Consolidated Balance Sheets at September 30, 2022, and December 31, 2021, relate to customer receivables. Revenues sources are disaggregated in Note K. Transaction Price Allocated to Unsatisfied Performance Obligations - We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) variable consideration on contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. The following table presents aggregate value allocated to unsatisfied performance obligations as of September 30, 2022, and the amounts we expect to recognize in revenue in future periods, related primarily to firm transportation and storage contracts with remaining contract terms ranging from two months to 22 years: Expected Period of Recognition in Revenue ( Millions of dollars ) Remainder of 2022 $ 105.4 2023 409.3 2024 346.1 2025 253.5 2026 and beyond 1,052.4 Total estimated transaction price allocated to unsatisfied performance obligations $ 2,166.7 The table above excludes variable consideration allocated entirely to wholly unsatisfied performance obligations, wholly unsatisfied promises to transfer distinct goods or services that are part of a single performance obligation and consideration we determine to be fully constrained. The amounts we determined to be fully constrained relate to future sales obligations under

SEGMENTS (Notes)

SEGMENTS (Notes)	9 Months Ended
	Sep. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
SEGMENTS	SEGMENTS Segment Descriptions - Our operations are divided into three reportable business segments as follows: • our Natural Gas Gathering and Processing segment gathers, treats and processes natural gas; • our Natural Gas Liquids segment gathers, treats, fractionates and transports NGLs and stores, markets and distributes NGL products; and • our Natural Gas Pipelines segment transports and stores natural gas via regulated intrastate and interstate natural gas transmission pipelines and natural gas storage facilities. Other and eliminations consist of corporate costs, the operating and leasing activities of our headquarters building and related parking facility, the activity of our wholly owned captive insurance company, which began in April 2022, and eliminations necessary to reconcile our reportable segments to our Consolidated Financial Statements. Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated: Three Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 990,020 $ 4,749,230 $ — $ 5,739,250 Residue natural gas sales 824,558 — 2,889 827,447 Gathering, processing and exchange services revenue 36,571 139,302 — 175,873 Transportation and storage revenue — 39,884 133,789 173,673 Other 7,453 2,533 250 10,236 Total revenues (c) 1,858,602 4,930,949 136,928 6,926,479 Cost of sales and fuel (exclusive of depreciation and operating costs) (1,460,727) (4,316,327) (4,460) (5,781,514) Operating costs (98,197) (144,586) (43,823) (286,606) Equity in net earnings from investments 1,676 11,159 26,345 39,180 Noncash compensation expense and other 2,512 3,648 2,096 8,256 Segment adjusted EBITDA $ 303,866 $ 484,843 $ 117,086 $ 905,795 Depreciation and amortization $ (65,107) $ (75,558) $ (15,344) $ (156,009) Capital expenditures $ 104,754 $ 169,175 $ 39,644 $ 313,573 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $671.8 million, of which $620.9 million related to revenues within the segment, and cost of sales and fuel of $205.0 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $73.2 million and cost of sales and fuel of $10.3 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $1.0 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Three Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 5,739,250 $ (1,005,882) $ 4,733,368 Residue natural gas sales 827,447 — 827,447 Gathering, processing and exchange services revenue 175,873 — 175,873 Transportation and storage revenue 173,673 (2,214) 171,459 Other 10,236 (4,852) 5,384 Total revenues (a) $ 6,926,479 $ (1,012,948) $ 5,913,531 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (5,781,514) $ 1,008,840 $ (4,772,674) Operating costs $ (286,606) $ 422 $ (286,184) Depreciation and amortization $ (156,009) $ (1,093) $ (157,102) Equity in net earnings from investments $ 39,180 $ — $ 39,180 Capital expenditures $ 313,573 $ 13,158 $ 326,731 (a) - Noncustomer revenue for the three months ended September 30, 2022, totaled $(56.5) million related primarily to losses from derivatives on commodity contracts. Three Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 815,993 $ 3,853,078 $ — $ 4,669,071 Residue natural gas sales 370,801 — 19 370,820 Gathering, processing and exchange services revenue 35,395 133,574 — 168,969 Transportation and storage revenue — 40,465 120,294 160,759 Other 6,294 2,499 167 8,960 Total revenues (c) 1,228,483 4,029,616 120,480 5,378,579 Cost of sales and fuel (exclusive of depreciation and operating costs) (913,931) (3,377,903) (344) (4,292,178) Operating costs (95,210) (128,809) (41,020) (265,039) Equity in net earnings from investments 499 5,384 22,690 28,573 Noncash compensation expense and other 9,816 3,871 920 14,607 Segment adjusted EBITDA $ 229,657 $ 532,159 $ 102,726 $ 864,542 Depreciation and amortization $ (63,750) $ (74,986) $ (14,821) $ (153,557) Capital expenditures $ 80,839 $ 53,778 $ 24,587 $ 159,204 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $618.8 million, of which $567.7 million related to revenues within the segment, and cost of sales and fuel of $160.0 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $72.4 million and cost of sales and fuel of $3.9 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $837.7 million. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Three Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 4,669,071 $ (838,279) $ 3,830,792 Residue natural gas sales 370,820 — 370,820 Gathering, processing and exchange services revenue 168,969 — 168,969 Transportation and storage revenue 160,759 (3,500) 157,259 Other 8,960 (625) 8,335 Total revenues (a) $ 5,378,579 $ (842,404) $ 4,536,175 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (4,292,178) $ 843,051 $ (3,449,127) Operating costs $ (265,039) $ (78) $ (265,117) Depreciation and amortization $ (153,557) $ (985) $ (154,542) Equity in net earnings from investments $ 28,573 $ — $ 28,573 Capital expenditures $ 159,204 $ 7,003 $ 166,207 (a) - Noncustomer revenue for the three months ended September 30, 2021, totaled $(178.7) million related primarily to losses from derivatives on commodity contracts. Nine Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 3,033,568 $ 14,308,502 $ — $ 17,342,070 Residue natural gas sales 2,035,330 — 30,254 2,065,584 Gathering, processing and exchange services revenue 104,072 415,073 — 519,145 Transportation and storage revenue — 126,988 387,211 514,199 Other 17,558 7,920 689 26,167 Total revenues (c) 5,190,528 14,858,483 418,154 20,467,165 Cost of sales and fuel (exclusive of depreciation and operating costs) (4,147,901) (12,948,769) (22,196) (17,118,866) Operating costs (289,376) (416,491) (126,231) (832,098) Equity in net earnings from investments 4,906 24,986 81,258 111,150 Noncash compensation expense and other 12,607 11,624 5,610 29,841 Segment adjusted EBITDA $ 770,764 $ 1,529,833 $ 356,595 $ 2,657,192 Depreciation and amortization $ (192,960) $ (225,865) $ (46,633) $ (465,458) Investments in unconsolidated affiliates $ 28,262 $ 413,877 $ 361,668 $ 803,807 Total assets $ 7,079,315 $ 14,987,107 $ 2,204,942 $ 24,271,364 Capital expenditures $ 321,469 $ 444,875 $ 82,135 $ 848,479 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.9 billion, of which $1.7 billion related to revenues within the segment, and cost of sales and fuel of $503.3 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $240.5 million and cost of sales and fuel of $32.6 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $3.1 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Nine Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 17,342,070 $ (3,095,907) $ 14,246,163 Residue natural gas sales 2,065,584 (332) 2,065,252 Gathering, processing and exchange services revenue 519,145 — 519,145 Transportation and storage revenue 514,199 (6,356) 507,843 Other 26,167 (9,709) 16,458 Total revenues (a) $ 20,467,165 $ (3,112,304) $ 17,354,861 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (17,118,866) $ 3,102,245 $ (14,016,621) Operating costs $ (832,098) $ 4,533 $ (827,565) Depreciation and amortization $ (465,458) $ (3,259) $ (468,717) Equity in net earnings from investments $ 111,150 $ — $ 111,150 Investments in unconsolidated affiliates $ 803,807 $ — $ 803,807 Total assets $ 24,271,364 $ 167,879 $ 24,439,243 Capital expenditures $ 848,479 $ 37,562 $ 886,041 (a) - Noncustomer revenue for the nine months ended September 30, 2022, totaled $(363.9) million related primarily to losses from derivatives on commodity contracts. Nine Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 1,874,183 $ 9,097,512 $ — $ 10,971,695 Residue natural gas sales 940,850 — 115,478 1,056,328 Gathering, processing and exchange services revenue 101,221 376,429 — 477,650 Transportation and storage revenue — 127,057 365,578 492,635 Other 15,422 38,161 682 54,265 Total revenues (c) 2,931,676 9,639,159 481,738 13,052,573 Cost of sales and fuel (exclusive of depreciation and operating costs) (2,019,723) (7,838,141) (10,901) (9,868,765) Operating costs (266,237) (382,012) (121,843) (770,092) Equity in net earnings from investments 2,669 14,078 70,866 87,613 Noncash compensation expense and other 15,254 14,994 3,737 33,985 Segment adjusted EBITDA $ 663,639 $ 1,448,078 $ 423,597 $ 2,535,314 Depreciation and amortization $ (198,050) $ (223,679) $ (43,786) $ (465,515) Investments in unconsolidated affiliates $ 25,734 $ 417,573 $ 353,926 $ 797,233 Total assets $ 6,725,753 $ 14,898,568 $ 2,129,406 $ 23,753,727 Capital expenditures $ 177,362 $ 225,766 $ 73,540 $ 476,668 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.8 billion, of which $1.6 billion related to revenues within the segment, and cost of sales and fuel of $449.1 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $323.2 million and cost of sales and fuel of $20.5 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $1.9 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Nine Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 10,971,695 $ (1,920,483) $ 9,051,212 Residue natural gas sales 1,056,328 — 1,056,328 Gathering, processing and exchange services revenue 477,650 — 477,650 Transportation and storage revenue 492,635 (10,541) 482,094 Other 54,265 (1,731) 52,534 Total revenues (a) $ 13,052,573 $ (1,932,755) $ 11,119,818 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (9,868,765) $ 1,931,149 $ (7,937,616) Operating costs $ (770,092) $ (881) $ (770,973) Depreciation and amortization $ (465,515) $ (3,068) $ (468,583) Equity in net earnings from investments $ 87,613 $ — $ 87,613 Investments in unconsolidated affiliates $ 797,233 $ — $ 797,233 Total assets $ 23,753,727 $ 118,604 $ 23,872,331 Capital expenditures $ 476,668 $ 13,661 $ 490,329 (a) - Noncustomer revenue for the nine months ended September 30, 2021, totaled $(386.9) million related primarily to losses from derivatives on commodity contracts. Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Reconciliation of net income to total segment adjusted EBITDA Net income $ 431,751 $ 392,018 $ 1,237,300 $ 1,120,333 Add: Interest expense, net of capitalized interest 166,939 184,049 509,744 554,529 Depreciation and amortization 157,102 154,542 468,717 468,583 Income taxes 132,129 121,899 385,270 354,100 Noncash compensation expense 15,229 12,978 52,976 37,086 Other corporate costs and equity AFUDC 2,645 (944) 3,185 683 Total segment adjusted EBITDA $ 905,795 $ 864,542 $ 2,657,192 $ 2,535,314

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Our accompanying unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the SEC. These statements have been prepared in accordance with GAAP and reflect all adjustments that, in our opinion, are necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The 2021 year-end Consolidated Balance Sheet data was derived from our audited Consolidated Financial Statements but does not include all disclosures required by GAAP. Certain reclassifications have been made in the prior year Consolidated Financial Statements to conform to the current year presentation. These unaudited Consolidated Financial Statements should be read in conjunction with our audited Consolidated Financial Statements in our Annual Report.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Update - Changes to GAAP are established by the Financial Accounting Standards Board (FASB) in the form of ASUs to the FASB Accounting Standards Codification. We consider the applicability and impact of all ASUs. ASUs not discussed herein or in our Annual Report were assessed and determined to be either not applicable or clarifications of ASUs previously issued. There have been no new accounting pronouncements that have become effective or have been issued that are of significance or potential significance to us.

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Policies)	9 Months Ended
	Sep. 30, 2022
Fair Value Accounting Policy [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	Determining Fair Value - For our fair value measurements, we utilize market prices, third-party pricing services, present value methods and standard option valuation models to determine the price we would receive from the sale of an asset or the transfer of a liability in an orderly transaction at the measurement date. We measure the fair value of a group of financial assets and liabilities consistent with how a market participant would price the net risk exposure at the measurement date. Many of the contracts in our derivative portfolio are executed in liquid markets where price transparency exists. Our financial commodity derivatives are generally settled through a NYMEX or ICE clearing broker account with daily margin requirements. We validate our valuation inputs with third-party information and settlement prices from other sources, where available. We compute the fair value of our derivative portfolio by discounting the projected future cash flows from our derivative assets and liabilities to present value using interest-rate yields to calculate present-value discount factors derived from the implied forward SOFR, LIBOR or other yield curve, as appropriate. The fair value of our forward-starting interest-rate swaps is determined using financial models that incorporate the implied forward LIBOR yield curve for the same period as the future interest-rate swap settlements. We consider current market data in evaluating counterparties’, as well as our own, nonperformance risk, net of collateral, by using counterparty-specific bond yields. Although we use our best estimates to determine the fair value of the derivative contracts we have executed, the ultimate market prices realized could differ materially from our estimates. Fair Value Hierarchy - At each balance sheet date, we utilize a fair value hierarchy to classify fair value amounts recognized or disclosed in our financial statements based on the observability of inputs used to estimate such fair value. The levels of the hierarchy are described below: • Level 1 - fair value measurements are based on unadjusted quoted prices for identical securities in active markets. These balances are composed predominantly of exchange-traded derivative contracts for natural gas and crude oil. • Level 2 - fair value measurements are based on significant observable pricing inputs, including quoted prices for similar assets and liabilities in active markets and inputs from third-party pricing services supported with corroborative evidence. These balances are composed of exchange-cleared derivatives to hedge natural gas basis and NGL price risk at certain market locations and over-the-counter interest-rate derivatives. • Level 3 - fair value measurements are based on inputs that may include one or more unobservable inputs, including internally developed commodity price curves that incorporate market data from broker quotes and third-party pricing services. These balances are composed predominantly of exchange-cleared and over-the-counter derivatives to hedge NGL price risk at certain market locations. These commodity derivatives are generally valued using forward quotes provided by third-party pricing services that are validated with other market data. We believe any measurement uncertainty at September 30, 2022, is immaterial as our Level 3 fair value measurements are based on unadjusted pricing information from broker quotes and third-party pricing services. Determining the appropriate classification of our fair value measurements within the fair value hierarchy requires management’s judgment regarding the degree to which market data is observable or corroborated by observable market data. We categorize derivatives based on the lowest level input that is significant to the fair value measurement in its entirety.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Business interruption insurance	The following table sets forth the impact of this business interruption insurance by income statement caption for the three and nine months ended September 30, 2022: September 30, 2022 (Thousands of dollars) Commodity sales revenue (a) $ 17,618 Services revenue $ 1,249 Cost of sales and fuel $ 2,856 (a) - Represents third-party fractionation costs. Pursuant to ASC 606 our third-party fractionation agreements are considered commodity sales contracts as a third-party assumed control of the NGL raw feed prior to performing the fractionation services. Therefore, incurred costs associated with these third-party fractionation agreements were recorded as a reduction of the commodity sales price in commodity sales rather than as costs of sales and fuel.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The following tables set forth our recurring fair value measurements for the periods indicated: September 30, 2022 Level 1 Level 2 Level 3 Total - Gross Netting (a) Total - Net ( Thousands of dollars ) Derivative assets Commodity contracts Financial contracts $ 10,959 $ 134,356 $ 91,384 $ 236,699 $ (236,699) $ — Interest-rate contracts — 67,377 — 67,377 — 67,377 Total derivative assets $ 10,959 $ 201,733 $ 91,384 $ 304,076 $ (236,699) $ 67,377 Derivative liabilities Commodity contracts Financial contracts $ (112,578) $ (104,047) $ (40,132) $ (256,757) $ 256,757 $ — Total derivative liabilities $ (112,578) $ (104,047) $ (40,132) $ (256,757) $ 256,757 $ — (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheet on a net basis. We net derivative assets and liabilities when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us. At September 30, 2022, we held no cash and posted $110.0 million of cash with various counterparties, including $20.1 million of cash collateral that is offsetting derivative net liability positions under master-netting arrangements in the table above. The remaining $89.9 million of cash collateral in excess of derivative net liability positions is included in other current assets in our Consolidated Balance Sheet. December 31, 2021 Level 1 Level 2 Level 3 Total - Gross Netting (a) Total - Net ( Thousands of dollars ) Derivative assets Commodity contracts Financial contracts $ 22,019 $ 172,833 $ 9,309 $ 204,161 $ (204,161) $ — Total derivative assets $ 22,019 $ 172,833 $ 9,309 $ 204,161 $ (204,161) $ — Derivative liabilities Commodity contracts Financial contracts $ (67,226) $ (112,922) $ (123,592) $ (303,740) $ 303,740 $ — Interest-rate contracts — (145,524) — (145,524) — (145,524) Total derivative liabilities $ (67,226) $ (258,446) $ (123,592) $ (449,264) $ 303,740 $ (145,524) (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheet on a net basis. We net derivative assets and liabilities when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us. At December 31, 2021, we held no cash and posted $157.0 million of cash with various counterparties, including $99.6 million of cash collateral that is offsetting derivative net liability positions under master-netting arrangements in the table above. The remaining $57.4 million of cash collateral in excess of derivative net liability positions is included in other current assets in our Consolidated Balance Sheet.
Reconciliation of Level 3 Fair Value Measurements	The following table sets forth a reconciliation of our Level 3 fair value measurements for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, Derivative Assets (Liabilities) 2022 2021 2022 2021 ( Thousands of dollars ) Net liabilities at beginning of period $ (110,396) $ (121,750) $ (114,283) $ (31,321) Total changes in fair value: Settlements included in net income (a) 39,446 46,797 78,932 28,028 New Level 3 derivatives included in other comprehensive income (loss) (b) (360) (23,151) 73,168 (129,805) Unrealized change included in other comprehensive income (loss) (b) 122,562 (69,104) 13,435 (34,110) Net assets (liabilities) at end of period $ 51,252 $ (167,208) $ 51,252 $ (167,208) (a) - Included in commodity sales revenues/cost of sales and fuel in our Consolidated Statements of Income.

RISK MANAGEMENT AND HEDGING A_2

RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivatives	The following table sets forth the fair values of our derivative instruments presented on a gross basis for the periods indicated: September 30, 2022 December 31, 2021 Location in our Assets (Liabilities) Assets (Liabilities) Derivatives designated as hedging instruments ( Thousands of dollars ) Commodity contracts (a) Financial contracts (b) $ 236,699 $ (256,757) $ 204,161 $ (303,740) Interest-rate contracts Other current assets/liabilities 67,377 — — (145,524) Total derivatives designated as hedging instruments $ 304,076 $ (256,757) $ 204,161 $ (449,264) (a) - Derivative assets and liabilities are presented in our Consolidated Balance Sheets on a net basis when a legally enforceable master-netting arrangement exists between the counterparty to a derivative contract and us.
Notional Amounts of Derivative Instruments	The following table sets forth the notional quantities for derivative instruments held for the periods indicated: September 30, December 31 Contract Net Purchased/Payor Derivatives designated as hedging instruments: Cash flow hedges Fixed price - Natural gas ( Bcf ) Futures (46.4) (32.3) - Crude oil and NGLs ( MMBbl ) Futures (12.4) (10.0) Basis - Natural gas ( Bcf ) Futures (46.3) (30.5) Interest-rate contracts ( Billions of dollars ) Swaps $ 1.1 $ 1.1
Schedule of Cash Flow Hedging Instruments Effect on Comprehensive Income (Loss)	The following table sets forth the unrealized change in fair value of cash flow hedges in other comprehensive income (loss) for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Commodity contracts $ 69,430 $ (171,665) $ (139,203) $ (410,572) Interest-rate contracts 68,608 800 212,901 57,816 Total unrealized change in fair value of cash flow hedges in other comprehensive income (loss) $ 138,038 $ (170,865) $ 73,698 $ (352,756)
Schedule of Cash Flow Hedging Instruments Effect on Income (Loss)	The following table sets forth the effect of cash flow hedges on net income for the periods indicated: Derivatives in Cash Flow Location of Gain (Loss) Reclassified from Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Commodity contracts Commodity sales revenues $ (77,938) $ (223,741) $ (546,506) $ (439,421) Cost of sales and fuel 17,479 147,360 327,782 283,153 Interest-rate contracts Interest expense (9,610) (9,902) (28,563) (29,483) Total change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives $ (70,069) $ (86,283) $ (247,287) $ (185,751)

DEBT DEBT (Tables)

DEBT DEBT (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Instrument [Line Items]
Debt [Table Text Block]	The following table sets forth our consolidated debt for the periods indicated: September 30, December 31, ( Thousands of dollars ) Commercial paper outstanding, bearing a weighted average interest rate of 3.8% as of September 30, 2022 $ 901,277 $ — Senior unsecured obligations: $900,000 at 3.375% due October 2022 — 895,814 $425,000 at 5.0% due September 2023 425,000 425,000 $500,000 at 7.5% due September 2023 500,000 500,000 $500,000 at 2.75% due September 2024 500,000 500,000 $500,000 at 4.9% due March 2025 500,000 500,000 $400,000 at 2.2% due September 2025 387,000 387,000 $600,000 at 5.85% due January 2026 600,000 600,000 $500,000 at 4.0% due July 2027 500,000 500,000 $800,000 at 4.55% due July 2028 800,000 800,000 $100,000 at 6.875% due September 2028 100,000 100,000 $700,000 at 4.35% due March 2029 700,000 700,000 $750,000 at 3.4% due September 2029 714,251 714,251 $850,000 at 3.1% due March 2030 780,093 780,093 $600,000 at 6.35% due January 2031 600,000 600,000 $400,000 at 6.0% due June 2035 400,000 400,000 $600,000 at 6.65% due October 2036 600,000 600,000 $600,000 at 6.85% due October 2037 600,000 600,000 $650,000 at 6.125% due February 2041 650,000 650,000 $400,000 at 6.2% due September 2043 400,000 400,000 $700,000 at 4.95% due July 2047 689,006 689,006 $1,000,000 at 5.2% due July 2048 1,000,000 1,000,000 $750,000 at 4.45% due September 2049 672,530 672,530 $500,000 at 4.5% due March 2050 443,015 443,015 $300,000 at 7.15% due January 2051 300,000 300,000 Guardian Pipeline $120,000 term loan, variable rate, due June 2025 120,000 — Total debt 13,882,172 13,756,709 Unamortized portion of terminated swaps 10,308 11,596 Unamortized debt issuance costs and discounts (115,543) (124,855) Current maturities of long-term debt (925,000) (895,814) Short-term borrowings (a) (901,277) — Long-term debt $ 11,950,660 $ 12,747,636 (a) - Individual issuances of commercial paper under our commercial paper program generally mature in 90 days or less.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Loss	The following table sets forth the balance in accumulated other comprehensive loss for the period indicated, net of tax: Risk- Retirement and Risk- Accumulated ( Thousands of dollars ) January 1, 2022 $ (352,315) $ (107,659) $ (11,377) $ (471,351) Other comprehensive income before reclassifications 56,747 170 14,958 71,875 Amounts reclassified to net income (b) 190,411 8,704 888 200,003 Other comprehensive income 247,158 8,874 15,846 271,878 September 30, 2022 $ (105,157) $ (98,785) $ 4,469 $ (199,473) (a) - Includes amounts related to supplemental executive retirement plan. (b) - See Note C for details of amounts reclassified to net income for risk-management assets/liabilities.
Schedule of Accumulated Other Comprehensive Loss for Risk-Management Assets/Liabilities [Table Text Block]	The following table sets forth information about the balance of accumulated other comprehensive loss at September 30, 2022, representing unrealized gains (losses) related to risk-management assets and liabilities, net of tax: Risk- ( Thousands of dollars ) Commodity derivative instruments expected to be realized within the next 27 months (a) $ (15,711) Settled interest-rate swaps to be recognized over the life of the long-term, fixed-rate debt (b) (141,326) Interest-rate swaps with future settlement dates expected to be amortized over the life of long-term debt 51,880 Accumulated other comprehensive loss at September 30, 2022 $ (105,157) (a) - Based on commodity prices on September 30, 2022, we expect net losses of $14.7 million, net of tax, will be reclassified into earnings during the next 12 months. (b) - We expect net losses of $19.0 million, net of tax, will be reclassified into earnings during the next 12 months.

EARNINGS PER SHARE EARNINGS P_2

EARNINGS PER SHARE EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	The following tables set forth the computation of basic and diluted EPS for the periods indicated: Three Months Ended September 30, 2022 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 431,476 447,677 $ 0.96 Diluted EPS Effect of dilutive securities — 540 Net income available for common stock and common stock equivalents $ 431,476 448,217 $ 0.96 Three Months Ended September 30, 2021 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 391,743 446,634 $ 0.88 Diluted EPS Effect of dilutive securities — 1,001 Net income available for common stock and common stock equivalents $ 391,743 447,635 $ 0.88 Nine Months Ended September 30, 2022 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 1,236,475 447,417 $ 2.76 Diluted EPS Effect of dilutive securities — 851 Net income available for common stock and common stock equivalents $ 1,236,475 448,268 $ 2.76 Nine Months Ended September 30, 2021 Income Shares Per Share ( Thousands, except per share amounts ) Basic EPS Net income available for common stock $ 1,119,508 446,288 $ 2.51 Diluted EPS Effect of dilutive securities — 829 Net income available for common stock and common stock equivalents $ 1,119,508 447,117 $ 2.50

UNCONSOLIDATED AFFILIATES (Tabl

UNCONSOLIDATED AFFILIATES (Tables)	9 Months Ended
	Sep. 30, 2022
Equity In Net Earnings From Investments
Schedule of Equity Method Investments [Line Items]
Schedule of Equity Method Investments [Table Text Block]	The following table sets forth our equity in net earnings from investments for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Thousands of dollars) Northern Border Pipeline $ 16,744 $ 14,634 $ 53,216 $ 47,459 Roadrunner 9,600 8,056 28,041 23,407 Overland Pass Pipeline 10,486 5,241 23,379 12,952 Other 2,350 642 6,514 3,795 Equity in net earnings from investments $ 39,180 $ 28,573 $ 111,150 $ 87,613

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability [Table Text Block]	The following table sets forth the balances in contract liabilities for the periods indicated: Contract Liabilities ( Millions of dollars ) Balance at December 31, 2021 (a) $ 51.5 Revenue recognized included in beginning balance (34.7) Net additions 46.6 Balance at September 30, 2022 (b) $ 63.4 (a) - Contract liabilities of $35.3 million and $16.2 million are included in other current liabilities and other deferred credits, respectively, in our Consolidated Balance Sheet. (b) - Contract liabilities of $34.6 million and $28.8 million are included in other current liabilities and other deferred credits, respectively, in our Consolidated Balance Sheet.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	The following table presents aggregate value allocated to unsatisfied performance obligations as of September 30, 2022, and the amounts we expect to recognize in revenue in future periods, related primarily to firm transportation and storage contracts with remaining contract terms ranging from two months to 22 years: Expected Period of Recognition in Revenue ( Millions of dollars ) Remainder of 2022 $ 105.4 2023 409.3 2024 346.1 2025 253.5 2026 and beyond 1,052.4 Total estimated transaction price allocated to unsatisfied performance obligations $ 2,166.7

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segments	The following tables set forth certain selected financial information for our operating segments for the periods indicated: Three Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 990,020 $ 4,749,230 $ — $ 5,739,250 Residue natural gas sales 824,558 — 2,889 827,447 Gathering, processing and exchange services revenue 36,571 139,302 — 175,873 Transportation and storage revenue — 39,884 133,789 173,673 Other 7,453 2,533 250 10,236 Total revenues (c) 1,858,602 4,930,949 136,928 6,926,479 Cost of sales and fuel (exclusive of depreciation and operating costs) (1,460,727) (4,316,327) (4,460) (5,781,514) Operating costs (98,197) (144,586) (43,823) (286,606) Equity in net earnings from investments 1,676 11,159 26,345 39,180 Noncash compensation expense and other 2,512 3,648 2,096 8,256 Segment adjusted EBITDA $ 303,866 $ 484,843 $ 117,086 $ 905,795 Depreciation and amortization $ (65,107) $ (75,558) $ (15,344) $ (156,009) Capital expenditures $ 104,754 $ 169,175 $ 39,644 $ 313,573 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $671.8 million, of which $620.9 million related to revenues within the segment, and cost of sales and fuel of $205.0 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $73.2 million and cost of sales and fuel of $10.3 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $1.0 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Three Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 5,739,250 $ (1,005,882) $ 4,733,368 Residue natural gas sales 827,447 — 827,447 Gathering, processing and exchange services revenue 175,873 — 175,873 Transportation and storage revenue 173,673 (2,214) 171,459 Other 10,236 (4,852) 5,384 Total revenues (a) $ 6,926,479 $ (1,012,948) $ 5,913,531 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (5,781,514) $ 1,008,840 $ (4,772,674) Operating costs $ (286,606) $ 422 $ (286,184) Depreciation and amortization $ (156,009) $ (1,093) $ (157,102) Equity in net earnings from investments $ 39,180 $ — $ 39,180 Capital expenditures $ 313,573 $ 13,158 $ 326,731 (a) - Noncustomer revenue for the three months ended September 30, 2022, totaled $(56.5) million related primarily to losses from derivatives on commodity contracts. Three Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 815,993 $ 3,853,078 $ — $ 4,669,071 Residue natural gas sales 370,801 — 19 370,820 Gathering, processing and exchange services revenue 35,395 133,574 — 168,969 Transportation and storage revenue — 40,465 120,294 160,759 Other 6,294 2,499 167 8,960 Total revenues (c) 1,228,483 4,029,616 120,480 5,378,579 Cost of sales and fuel (exclusive of depreciation and operating costs) (913,931) (3,377,903) (344) (4,292,178) Operating costs (95,210) (128,809) (41,020) (265,039) Equity in net earnings from investments 499 5,384 22,690 28,573 Noncash compensation expense and other 9,816 3,871 920 14,607 Segment adjusted EBITDA $ 229,657 $ 532,159 $ 102,726 $ 864,542 Depreciation and amortization $ (63,750) $ (74,986) $ (14,821) $ (153,557) Capital expenditures $ 80,839 $ 53,778 $ 24,587 $ 159,204 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $618.8 million, of which $567.7 million related to revenues within the segment, and cost of sales and fuel of $160.0 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $72.4 million and cost of sales and fuel of $3.9 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $837.7 million. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Three Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 4,669,071 $ (838,279) $ 3,830,792 Residue natural gas sales 370,820 — 370,820 Gathering, processing and exchange services revenue 168,969 — 168,969 Transportation and storage revenue 160,759 (3,500) 157,259 Other 8,960 (625) 8,335 Total revenues (a) $ 5,378,579 $ (842,404) $ 4,536,175 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (4,292,178) $ 843,051 $ (3,449,127) Operating costs $ (265,039) $ (78) $ (265,117) Depreciation and amortization $ (153,557) $ (985) $ (154,542) Equity in net earnings from investments $ 28,573 $ — $ 28,573 Capital expenditures $ 159,204 $ 7,003 $ 166,207 (a) - Noncustomer revenue for the three months ended September 30, 2021, totaled $(178.7) million related primarily to losses from derivatives on commodity contracts. Nine Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 3,033,568 $ 14,308,502 $ — $ 17,342,070 Residue natural gas sales 2,035,330 — 30,254 2,065,584 Gathering, processing and exchange services revenue 104,072 415,073 — 519,145 Transportation and storage revenue — 126,988 387,211 514,199 Other 17,558 7,920 689 26,167 Total revenues (c) 5,190,528 14,858,483 418,154 20,467,165 Cost of sales and fuel (exclusive of depreciation and operating costs) (4,147,901) (12,948,769) (22,196) (17,118,866) Operating costs (289,376) (416,491) (126,231) (832,098) Equity in net earnings from investments 4,906 24,986 81,258 111,150 Noncash compensation expense and other 12,607 11,624 5,610 29,841 Segment adjusted EBITDA $ 770,764 $ 1,529,833 $ 356,595 $ 2,657,192 Depreciation and amortization $ (192,960) $ (225,865) $ (46,633) $ (465,458) Investments in unconsolidated affiliates $ 28,262 $ 413,877 $ 361,668 $ 803,807 Total assets $ 7,079,315 $ 14,987,107 $ 2,204,942 $ 24,271,364 Capital expenditures $ 321,469 $ 444,875 $ 82,135 $ 848,479 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.9 billion, of which $1.7 billion related to revenues within the segment, and cost of sales and fuel of $503.3 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $240.5 million and cost of sales and fuel of $32.6 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $3.1 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Nine Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 17,342,070 $ (3,095,907) $ 14,246,163 Residue natural gas sales 2,065,584 (332) 2,065,252 Gathering, processing and exchange services revenue 519,145 — 519,145 Transportation and storage revenue 514,199 (6,356) 507,843 Other 26,167 (9,709) 16,458 Total revenues (a) $ 20,467,165 $ (3,112,304) $ 17,354,861 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (17,118,866) $ 3,102,245 $ (14,016,621) Operating costs $ (832,098) $ 4,533 $ (827,565) Depreciation and amortization $ (465,458) $ (3,259) $ (468,717) Equity in net earnings from investments $ 111,150 $ — $ 111,150 Investments in unconsolidated affiliates $ 803,807 $ — $ 803,807 Total assets $ 24,271,364 $ 167,879 $ 24,439,243 Capital expenditures $ 848,479 $ 37,562 $ 886,041 (a) - Noncustomer revenue for the nine months ended September 30, 2022, totaled $(363.9) million related primarily to losses from derivatives on commodity contracts. Nine Months Ended Natural Gas Natural Gas Natural Gas Total ( Thousands of dollars ) NGL and condensate sales $ 1,874,183 $ 9,097,512 $ — $ 10,971,695 Residue natural gas sales 940,850 — 115,478 1,056,328 Gathering, processing and exchange services revenue 101,221 376,429 — 477,650 Transportation and storage revenue — 127,057 365,578 492,635 Other 15,422 38,161 682 54,265 Total revenues (c) 2,931,676 9,639,159 481,738 13,052,573 Cost of sales and fuel (exclusive of depreciation and operating costs) (2,019,723) (7,838,141) (10,901) (9,868,765) Operating costs (266,237) (382,012) (121,843) (770,092) Equity in net earnings from investments 2,669 14,078 70,866 87,613 Noncash compensation expense and other 15,254 14,994 3,737 33,985 Segment adjusted EBITDA $ 663,639 $ 1,448,078 $ 423,597 $ 2,535,314 Depreciation and amortization $ (198,050) $ (223,679) $ (43,786) $ (465,515) Investments in unconsolidated affiliates $ 25,734 $ 417,573 $ 353,926 $ 797,233 Total assets $ 6,725,753 $ 14,898,568 $ 2,129,406 $ 23,753,727 Capital expenditures $ 177,362 $ 225,766 $ 73,540 $ 476,668 (a) - Our Natural Gas Liquids segment has regulated and nonregulated operations. Our Natural Gas Liquids segment’s regulated operations had revenues of $1.8 billion, of which $1.6 billion related to revenues within the segment, and cost of sales and fuel of $449.1 million. (b) - Our Natural Gas Pipelines segment has regulated and nonregulated operations. Our Natural Gas Pipelines segment’s regulated operations had revenues of $323.2 million and cost of sales and fuel of $20.5 million. (c) - Intersegment revenues are primarily commodity sales, which are based on the contracted selling price that is generally index-based and settled monthly, and for the Natural Gas Gathering and Processing segment totaled $1.9 billion. Intersegment revenues for the Natural Gas Liquids and Natural Gas Pipelines segments were not material. Nine Months Ended Total Other and Total ( Thousands of dollars ) Reconciliations of total segments to consolidated NGL and condensate sales $ 10,971,695 $ (1,920,483) $ 9,051,212 Residue natural gas sales 1,056,328 — 1,056,328 Gathering, processing and exchange services revenue 477,650 — 477,650 Transportation and storage revenue 492,635 (10,541) 482,094 Other 54,265 (1,731) 52,534 Total revenues (a) $ 13,052,573 $ (1,932,755) $ 11,119,818 Cost of sales and fuel (exclusive of depreciation and operating costs) $ (9,868,765) $ 1,931,149 $ (7,937,616) Operating costs $ (770,092) $ (881) $ (770,973) Depreciation and amortization $ (465,515) $ (3,068) $ (468,583) Equity in net earnings from investments $ 87,613 $ — $ 87,613 Investments in unconsolidated affiliates $ 797,233 $ — $ 797,233 Total assets $ 23,753,727 $ 118,604 $ 23,872,331 Capital expenditures $ 476,668 $ 13,661 $ 490,329 (a) - Noncustomer revenue for the nine months ended September 30, 2021, totaled $(386.9) million related primarily to losses from derivatives on commodity contracts. Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 ( Thousands of dollars ) Reconciliation of net income to total segment adjusted EBITDA Net income $ 431,751 $ 392,018 $ 1,237,300 $ 1,120,333 Add: Interest expense, net of capitalized interest 166,939 184,049 509,744 554,529 Depreciation and amortization 157,102 154,542 468,717 468,583 Income taxes 132,129 121,899 385,270 354,100 Noncash compensation expense 15,229 12,978 52,976 37,086 Other corporate costs and equity AFUDC 2,645 (944) 3,185 683 Total segment adjusted EBITDA $ 905,795 $ 864,542 $ 2,657,192 $ 2,535,314

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Medford Incident [Member] $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Property Damage and Business Interruption [Member]
Maximum insurance recoverable amount	$ 2,000,000	$ 2,000,000
Property Damage [Member]
Insurance settlements receivable	6,700	6,700
Insurance deductibles	5,000	5,000
Impairment charges	$ 6,700	6,700
Business Interruption [Member]
Duration of waiting period before business interruption coverage begins	45 days
Insurance Recoveries [Member]
Insurance settlements receivable	$ 100,000	100,000
Insurance recoveries received	45,000	45,000
Insurance Recoveries [Member] | Business Interruption [Member]
Insurance settlements receivable	21,700	21,700
Insurance Recoveries [Member] | Business Interruption [Member] | Cost of sales and fuel
Insurance recoveries	2,856	2,856
Insurance Recoveries [Member] | Business Interruption [Member] | Commodity Sales
Insurance recoveries	17,618	17,618
Insurance Recoveries [Member] | Business Interruption [Member] | Services
Insurance recoveries	$ 1,249	$ 1,249

FAIR VALUE MEASUREMENTS - Part

FAIR VALUE MEASUREMENTS - Part 1 (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash held - offsetting derivative net asset positions under master-netting arrangements	$ 0	$ 0
Cash posted - total	110,000	157,000
Cash posted - offsetting derivative net liability positions under master-netting arrangements	20,100	99,600
Cash posted - remaining in excess of derivative net liability positions included in consolidated Balance Sheets	89,900	57,400
Long-term debt, fair value	11,500,000	15,600,000
Long-term debt	12,900,000	13,600,000
Fair Value, Recurring [Member] | Gross Fair Value Measurement [Member]
Derivative assets
Derivative asset, fair value, gross	304,076
Derivative liabilities
Derivative liability, fair value, gross	(256,757)
Fair Value, Recurring [Member] | Gross Fair Value Measurement [Member] | Financial Contracts
Derivative assets
Derivative asset, fair value, gross	236,699	204,161
Derivative liabilities
Derivative liability, fair value, gross	(256,757)	(303,740)
Fair Value, Recurring [Member] | Gross Fair Value Measurement [Member] | Interest Rate Contracts
Derivative assets
Interest-rate contracts	67,377
Derivative liabilities
Interest-rate contracts		(145,524)
Fair Value, Recurring [Member]
Derivative assets
Derivative assets	67,377	0
Derivative assets netting	(236,699)	(204,161)
Derivative liabilities
Derivative liabilities	0	(145,524)
Derivative liabilities netting	256,757	303,740
Fair Value, Recurring [Member] | Financial Contracts
Derivative assets
Derivative assets	0	0
Derivative assets netting	(236,699)	(204,161)
Derivative liabilities
Derivative liabilities	0	0
Derivative liabilities netting	256,757	303,740
Fair Value, Recurring [Member] | Interest Rate Contracts
Derivative assets
Interest-rate contracts	67,377
Derivative assets netting	0
Derivative liabilities
Interest-rate contracts		(145,524)
Derivative liabilities netting		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative assets
Derivative asset, fair value, gross	10,959	22,019
Derivative liabilities
Derivative liability, fair value, gross	(112,578)	(67,226)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Financial Contracts
Derivative assets
Derivative asset, fair value, gross	10,959	22,019
Derivative liabilities
Derivative liability, fair value, gross	(112,578)	(67,226)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Contracts
Derivative assets
Interest-rate contracts	0
Derivative liabilities
Interest-rate contracts		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative assets
Derivative asset, fair value, gross	201,733	172,833
Derivative liabilities
Derivative liability, fair value, gross	(104,047)	(258,446)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Financial Contracts
Derivative assets
Derivative asset, fair value, gross	134,356	172,833
Derivative liabilities
Derivative liability, fair value, gross	(104,047)	(112,922)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Contracts
Derivative assets
Interest-rate contracts	67,377
Derivative liabilities
Interest-rate contracts		(145,524)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative assets
Derivative asset, fair value, gross	91,384	9,309
Derivative liabilities
Derivative liability, fair value, gross	(40,132)	(123,592)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Financial Contracts
Derivative assets
Derivative asset, fair value, gross	91,384	9,309
Derivative liabilities
Derivative liability, fair value, gross	(40,132)	(123,592)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Contracts
Derivative assets
Interest-rate contracts	$ 0
Derivative liabilities
Interest-rate contracts		$ 0

FAIR VALUE MEASUREMENTS - Par_2

FAIR VALUE MEASUREMENTS - Part 2 (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets And Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Net assets (liabilities) at beginning of period	$ (110,396)	$ (121,750)	$ (114,283)	$ (31,321)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements	39,446	46,797	78,932	28,028
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, New Level 3 Derivatives	(360)	(23,151)	73,168	(129,805)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Unrealized Change Included in other comprehensive income (loss)	122,562	(69,104)	13,435	(34,110)
Net assets (liabilities) at end of period	51,252	(167,208)	$ 51,252	$ (167,208)
Transfers in or out of level 3	$ 0	$ 0

RISK MANAGEMENT AND HEDGING A_3

RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES Part 1 (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Derivative, Fair Value [Line Items]
Derivative, Net Liability Position, Aggregate Fair Value	$ 0
Cash posted - offsetting derivative net liability positions under master-netting arrangements	20,100	$ 99,600
Derivatives designated as hedging instruments
Derivative, Fair Value [Line Items]
Assets	304,076	204,161
(Liabilities)	(256,757)	(449,264)
Natural Gas Pipelines
Derivative, Fair Value [Line Items]
Derivative, Fair Value, Net	0	0
Other Current Assets [Member] | Interest Rate Contracts | Derivatives designated as hedging instruments
Derivative, Fair Value [Line Items]
Assets	67,377	0
Other Current Liabilities [Member] | Interest Rate Contracts | Derivatives designated as hedging instruments
Derivative, Fair Value [Line Items]
(Liabilities)	0	(145,524)
Fully Netted Assets/Liabilities | Commodity Contracts | Financial contracts | Derivatives designated as hedging instruments
Derivative, Fair Value [Line Items]
Assets	236,699	204,161
(Liabilities)	$ (256,757)	$ (303,740)

RISK MANAGEMENT AND HEDGING A_4

RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES, Part 2 (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) MMBbls Bcf	Dec. 31, 2021 USD ($) Bcf MMBbls
Derivatives designated as Hedging Instrument | Interest Rate Contracts | Purchased/ Payor
Derivative [Line Items]
Derivative, Notional Amount | $	$ 1,100	$ 1,100
Derivatives designated as Hedging Instrument | Future | - Natural gas (Bcf) | Fixed price | Sold/ Receiver
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | Bcf	46.4	32.3
Derivatives designated as Hedging Instrument | Future | - Natural gas (Bcf) | Basis | Sold/ Receiver
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | Bcf	46.3	30.5
Derivatives designated as Hedging Instrument | Future | - Crude oil and NGLs (MMBbl) | Fixed price | Sold/ Receiver
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volume | MMBbls	12.4	10
Forecasted Debt Issuances [Member] | Cash Flow Hedging [Member] | Forward contracts | Interest Rate Contracts
Derivative [Line Items]
Derivative, Notional Amount | $	$ 1,100	$ 1,100

RISK MANAGEMENT AND HEDGING A_5

RISK MANAGEMENT AND HEDGING ACTIVITIES USING DERIVATIVES Part 3 (Details) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized change in fair value of cash flow hedges in other comprehensive income (loss)	$ 138,038	$ (170,865)	$ 73,698	$ (352,756)
Change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives	(70,069)	(86,283)	(247,287)	(185,751)
Commodity Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized change in fair value of cash flow hedges in other comprehensive income (loss)	69,430	(171,665)	(139,203)	(410,572)
Commodity Contracts | Commodity sales revenues
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives	(77,938)	(223,741)	(546,506)	(439,421)
Commodity Contracts | Cost of sales and fuel
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives	17,479	147,360	327,782	283,153
Interest Rate Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized change in fair value of cash flow hedges in other comprehensive income (loss)	68,608	800	212,901	57,816
Interest Rate Contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of cash flow hedges reclassified from accumulated other comprehensive loss into net income on derivatives	$ (9,610)	$ (9,902)	$ (28,563)	$ (29,483)

DEBT DEBT (Details)

DEBT DEBT (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) Rate	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) Rate	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Total debt	$ 13,882,172		$ 13,882,172	$ 13,756,709
Unamortized portion of terminated swaps	10,308		10,308	11,596
Unamortized debt issuance costs and discounts	(115,543)		(115,543)	(124,855)
Current maturities of long-term debt	(925,000)		(925,000)	(895,814)
Short-term borrowings	(901,277)		(901,277)	0
Long-term debt	11,950,660		11,950,660	12,747,636
Asset Acquisition, Consideration Transferred		$ 30,000
$2.5 Billion Credit Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	2,500,000		$ 2,500,000
Debt Instrument, Covenant Description			Among other things, beginning in June 2022, these covenants include maintaining a ratio of consolidated net indebtedness to adjusted EBITDA (EBITDA, as defined in our $2.5 Billion Credit Agreement, adjusted for all noncash charges and increased for projected EBITDA from certain lender-approved capital expansion projects). In the first quarter 2022, we acquired assets for $30 million, which allowed us to elect an acquisition adjustment period under our $2.5 Billion Credit Agreement and, as a result, increased our leverage ratio covenant to 5.5 to 1 for the first quarter 2022 and the two following quarters. Thereafter, the covenant will decrease to 5.0 to 1.
Line of Credit Facility, Amount Outstanding	$ 0		$ 0
Indebtedness To Adjusted EBITDA Current	3.9		3.9
Indebtedness To Adjusted EBITDA Maximum	5		5
Indebtedness To Adjusted EBITDA From Acquisitions Maximum	5.5		5.5
Line of Credit Facility Sublimit	$ 100,000		$ 100,000
Line of Credit Facility Swingline Subfacility	200,000		200,000
Line of Credit Facility Option To Increase Borrowing Capacity	$ 1,000,000		$ 1,000,000
Line of Credit Facility, Interest Rate Description			Borrowings, if any, will accrue at Term SOFR plus an applicable margin based on our credit ratings at the time of determination plus an adjustment of 10 basis points. Under our current credit ratings, the applicable margin on any borrowings would be 110 basis points.
Line Of Credit Facility, Annual Facility Fee Description			the applicable rate is 15 basis points
Guardian Pipeline [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description			bears interest at Term SOFR plus an applicable margin based on Guardian Pipeline’s credit rating at the time of determination plus an adjustment of 10 basis points. Under Guardian Pipeline’s current credit ratings, the applicable margin is 112.5 basis points
Guardian Term Loan Agreement
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	Guardian Term Loan Agreement - In June 2022, Guardian Pipeline entered into a $120 million unsecured term loan agreement. The Guardian Term Loan Agreement matures in June 2025, and bears interest at Term SOFR plus an applicable margin based on Guardian Pipeline’s credit rating at the time of determination plus an adjustment of 10 basis points. Under Guardian Pipeline’s current credit ratings, the applicable margin is 112.5 basis points. The Guardian Term Loan Agreement allows prepayment of all or any portion outstanding without penalty or premium. During the second quarter 2022, Guardian Pipeline drew the full $120 million available under the agreement and used the proceeds to repay intercompany debt with ONEOK. The Guardian Term Loan Agreement contains certain affirmative and negative covenants, as well as customary events of default, the occurrence of which could result in a termination of lenders’ commitments and the accelerations of all of Guardian Pipeline’s obligations thereunder. Guardian Pipeline is in compliance with all covenants under the Guardian Term Loan Agreement.
Notes Payable due 2025 | Guardian Pipeline [Member]
Debt Instrument [Line Items]
Total debt				0
Notes Payable due 2025 | Variable Rate | Guardian Pipeline [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 120,000		$ 120,000
Total debt	120,000		120,000
Subsidiary Issuer [Member] | 3.375% Notes Payable due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 900,000		$ 900,000
Interest Rate (in hundredths) | Rate	3.375%		3.375%
Total debt	$ 0		$ 0	895,814
Debt Instrument, Redemption Price, Percentage	100%
Repayments of Debt	$ 895,800
Subsidiary Issuer [Member] | 5.0% Notes Payable due 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 425,000		$ 425,000
Interest Rate (in hundredths) | Rate	5%		5%
Total debt	$ 425,000		$ 425,000	425,000
Subsidiary Issuer [Member] | 4.9% Notes Payable due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Interest Rate (in hundredths) | Rate	4.90%		4.90%
Total debt	$ 500,000		$ 500,000	500,000
Subsidiary Issuer [Member] | 6.65% Notes Payable due 2036 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600,000		$ 600,000
Interest Rate (in hundredths) | Rate	6.65%		6.65%
Total debt	$ 600,000		$ 600,000	600,000
Subsidiary Issuer [Member] | 6.85% Notes Payable due 2037 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600,000		$ 600,000
Interest Rate (in hundredths) | Rate	6.85%		6.85%
Total debt	$ 600,000		$ 600,000	600,000
Subsidiary Issuer [Member] | 6.125% Notes Payable due 2041 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 650,000		$ 650,000
Interest Rate (in hundredths) | Rate	6.125%		6.125%
Total debt	$ 650,000		$ 650,000	650,000
Subsidiary Issuer [Member] | 6.2% Notes Payable due 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000		$ 400,000
Interest Rate (in hundredths) | Rate	6.20%		6.20%
Total debt	$ 400,000		$ 400,000	400,000
Parent Company
Debt Instrument [Line Items]
Commercial Paper	$ 901,277		$ 901,277	0
Short-term Debt, Weighted Average Interest Rate, at Point in Time | Rate	3.80%		3.80%
Parent Company | 7.5% Notes Payable due 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Interest Rate (in hundredths) | Rate	7.50%		7.50%
Total debt	$ 500,000		$ 500,000	500,000
Parent Company | 2.75% Notes Payable due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Interest Rate (in hundredths) | Rate	2.75%		2.75%
Total debt	$ 500,000		$ 500,000	500,000
Parent Company | 2.2% Notes Payable due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000		$ 400,000
Interest Rate (in hundredths) | Rate	2.20%		2.20%
Total debt	$ 387,000		$ 387,000	387,000
Parent Company | 5.85% Notes Payable due 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600,000		$ 600,000
Interest Rate (in hundredths) | Rate	5.85%		5.85%
Total debt	$ 600,000		$ 600,000	600,000
Parent Company | 4.0% Notes Payable due 2027 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Interest Rate (in hundredths) | Rate	4%		4%
Total debt	$ 500,000		$ 500,000	500,000
Parent Company | 4.55% Notes Payable due 2028 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 800,000		$ 800,000
Interest Rate (in hundredths) | Rate	4.55%		4.55%
Total debt	$ 800,000		$ 800,000	800,000
Parent Company | 6.875% Notes Payable due 2028 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 100,000		$ 100,000
Interest Rate (in hundredths) | Rate	6.875%		6.875%
Total debt	$ 100,000		$ 100,000	100,000
Parent Company | 4.35% Notes Payable due 2029 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000		$ 700,000
Interest Rate (in hundredths) | Rate	4.35%		4.35%
Total debt	$ 700,000		$ 700,000	700,000
Parent Company | 3.4% Notes Payable due 2029 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750,000		$ 750,000
Interest Rate (in hundredths) | Rate	3.40%		3.40%
Total debt	$ 714,251		$ 714,251	714,251
Parent Company | 3.1% Notes Payable due 2030 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 850,000		$ 850,000
Interest Rate (in hundredths) | Rate	3.10%		3.10%
Total debt	$ 780,093		$ 780,093	780,093
Parent Company | 6.35% Notes Payable due 2031 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600,000		$ 600,000
Interest Rate (in hundredths) | Rate	6.35%		6.35%
Total debt	$ 600,000		$ 600,000	600,000
Parent Company | 6.0% Notes Payable due 2035 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000		$ 400,000
Interest Rate (in hundredths) | Rate	6%		6%
Total debt	$ 400,000		$ 400,000	400,000
Parent Company | 4.95% Notes Payable due 2047 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000		$ 700,000
Interest Rate (in hundredths) | Rate	4.95%		4.95%
Total debt	$ 689,006		$ 689,006	689,006
Parent Company | 5.2% Notes Payable due 2048 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000		$ 1,000,000
Interest Rate (in hundredths) | Rate	5.20%		5.20%
Total debt	$ 1,000,000		$ 1,000,000	1,000,000
Parent Company | 4.45% Notes Payable due 2049 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750,000		$ 750,000
Interest Rate (in hundredths) | Rate	4.45%		4.45%
Total debt	$ 672,530		$ 672,530	672,530
Parent Company | 4.5% Notes Payable due 2050 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000		$ 500,000
Interest Rate (in hundredths) | Rate	4.50%		4.50%
Total debt	$ 443,015		$ 443,015	443,015
Parent Company | 7.15% Notes Payable due 2051 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000		$ 300,000
Interest Rate (in hundredths) | Rate	7.15%		7.15%
Total debt	$ 300,000		$ 300,000	$ 300,000

EQUITY (Details)

EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022
Common Stock, Dividends, Per Share, Cash Paid		$ 0.935	$ 0.935	$ 0.935	$ 0.935	$ 0.935	$ 0.935
Dividends, Preferred Stock, Cash Paid		$ 300	$ 300	$ 300
Preferred Stock, Dividends, Declared		$ 275	$ 275	$ 275	$ 275	$ 275	$ 275
Series E Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage								5.50%
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.935
Dividends Payable, Date of Record	Nov. 01, 2022
Dividends Payable, Date to be Paid	Nov. 14, 2022
Preferred Stock, Dividends, Declared	$ 300

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Risk management assets/liabilities - January 1			$ (352,315)
Retirement and other postretirement benefit plan obligations - January 1			(107,659)
Risk-management assets/liabilities of unconsolidated affiliates - January 1			(11,377)
Accumulated other comprehensive loss - January 1			(471,351)
Other comprehensive income before reclassification, risk-management assets/liabilities	$ 106,289	$ (131,566)	56,747	$ (271,622)
Other comprehensive income before reclassification, retirement and postretirement benefit plan obligations			170
Other comprehensive income before reclassification, risk-management assets/liabilities of unconsolidated affiliates			14,958
Other comprehensive income before reclassifications			71,875
Other comprehensive income reclassification adjustment from AOCI for risk-management assets/liabilities, net of tax	53,953	66,438	190,411	143,029
Other comprehensive income, retirement and other postretirement benefit plans, reclassification adjustment from AOCI, net of tax			8,704
Other comprehensive income, reclassification adjustment from AOCI for other comprehensive income attributable to unconsolidated affiliates, net of tax			888
Other comprehensive income, reclassification adjustment included in net income, net of tax			200,003
Other comprehensive income, risk-management assets/liabilities, after reclassification adjustment, net of tax			247,158
Other comprehensive income, retirement and other postretirement benefit plans, after reclassification adjustment, net of tax	2,922	$ 4,538	8,874	$ 13,423
Other comprehensive income, risk-management assets/liabilities of unconsolidated affiliates, net of tax			15,846
Other comprehensive income, net of tax			271,878
Risk management assets/liabilities - September 30	(105,157)		(105,157)
Retirement and other postretirement benefit plan obligations - September 30	(98,785)		(98,785)
Risk-management assets/liabilities of unconsolidated affiliates - September 30	4,469		4,469
Accumulated other comprehensive loss - September 30	(199,473)		(199,473)
Cash Flow Hedging [Member] | Commodity Contracts
Unrealized gain loss on cash flow hedges net of tax accumulated other comprehensive income (loss)	(15,711)		(15,711)
Price risk cash flow hedge unrealized gain (loss) to be reclassified during next 12 months	(14,700)		(14,700)
Cash Flow Hedging [Member] | Interest Rate Contracts
Amount of accumulated other comprehensive income (loss) attributable primarily to settled interest-rate swaps	(141,326)		(141,326)
Amount of accumulated other comprehensive income (loss) attributable primarily to forward starting interest-rate swaps	51,880		51,880
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ (19,000)		$ (19,000)

EARNINGS PER SHARE EARNINGS P_3

EARNINGS PER SHARE EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic EPS
Net income available for common stock	$ 431,476	$ 391,743	$ 1,236,475	$ 1,119,508
Shares	447,677	446,634	447,417	446,288
Earnings per share, basic	$ 0.96	$ 0.88	$ 2.76	$ 2.51
Diluted EPS
Effect of dilutive securities	$ 0	$ 0	$ 0	$ 0
Effect of dilutive securities, number of shares	540	1,001	851	829
Net income available for common stock and common stock equivalents	$ 431,476	$ 391,743	$ 1,236,475	$ 1,119,508
Shares	448,217	447,635	448,268	447,117
Earnings per share, diluted	$ 0.96	$ 0.88	$ 2.76	$ 2.50

UNCONSOLIDATED AFFILIATES (Deta

UNCONSOLIDATED AFFILIATES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Equity Method Investments [Line Items]
Equity in net earnings from investments	$ 39,180	$ 28,573	$ 111,150	$ 87,613
Unconsolidated Affiliates [Member]
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Expenses from Transactions with Related Parties	25,400	16,200	55,500	44,200
Northern Border Pipeline
Schedule of Equity Method Investments [Line Items]
Equity in net earnings from investments	16,744	14,634	53,216	47,459
Roadrunner
Schedule of Equity Method Investments [Line Items]
Equity in net earnings from investments	9,600	8,056	28,041	23,407
Overland Pass Pipeline
Schedule of Equity Method Investments [Line Items]
Equity in net earnings from investments	10,486	5,241	23,379	12,952
Other Unconsolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Equity in net earnings from investments	$ 2,350	$ 642	$ 6,514	$ 3,795

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Contract with Customer, Liability [Abstract]
Contract with customer, liability	$ 63.4	$ 51.5
Revenue recognized included in beginning balance	(34.7)
Net additions	46.6
Contract with Customer, Liability, Current	34.6	35.3
Contract with Customer, Liability, Noncurrent	28.8	$ 16.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	2,166.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	105.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	409.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	346.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	253.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 1,052.4
Remaining Contract Terms [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Performance Obligation, Contract Term	two months to 22 years

SEGMENTS (Details)

SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment disclosure [Abstract]
Revenues	$ 5,913,531			$ 4,536,175			$ 17,354,861	$ 11,119,818
Cost of sales and fuel (exclusive of depreciation and operating costs)	(4,772,674)			(3,449,127)			(14,016,621)	(7,937,616)
Operating costs	(286,184)			(265,117)			(827,565)	(770,973)
Equity in net earnings from investments	39,180			28,573			111,150	87,613
Depreciation and amortization	(157,102)			(154,542)			(468,717)	(468,583)
Investments in unconsolidated affiliates	803,807			797,233			803,807	797,233	$ 797,613
Total assets	24,439,243			23,872,331			24,439,243	23,872,331	$ 23,621,613
Capital expenditures	326,731			166,207			886,041	490,329
Net income	431,751	$ 414,378	$ 391,171	392,018	$ 342,139	$ 386,176	1,237,300	1,120,333
Interest expense, net of capitalized interest	166,939			184,049			509,744	554,529
Income tax expense	132,129			121,899			385,270	354,100
Noncash compensation expense	15,229			12,978			52,976	37,086
Other corporate costs and noncash items	2,645			(944)			3,185	683
Natural Gas Gathering And Processing [Member]
Segment disclosure [Abstract]
Revenues	1,858,602			1,228,483			5,190,528	2,931,676
Cost of sales and fuel (exclusive of depreciation and operating costs)	(1,460,727)			(913,931)			(4,147,901)	(2,019,723)
Operating costs	(98,197)			(95,210)			(289,376)	(266,237)
Equity in net earnings from investments	1,676			499			4,906	2,669
Noncash compensation expense and other	2,512			9,816			12,607	15,254
Segment adjusted EBITDA	303,866			229,657			770,764	663,639
Depreciation and amortization	(65,107)			(63,750)			(192,960)	(198,050)
Investments in unconsolidated affiliates	28,262			25,734			28,262	25,734
Total assets	7,079,315			6,725,753			7,079,315	6,725,753
Capital expenditures	104,754			80,839			321,469	177,362
Natural Gas Liquids
Segment disclosure [Abstract]
Revenues	4,930,949			4,029,616			14,858,483	9,639,159
Cost of sales and fuel (exclusive of depreciation and operating costs)	(4,316,327)			(3,377,903)			(12,948,769)	(7,838,141)
Operating costs	(144,586)			(128,809)			(416,491)	(382,012)
Equity in net earnings from investments	11,159			5,384			24,986	14,078
Noncash compensation expense and other	3,648			3,871			11,624	14,994
Segment adjusted EBITDA	484,843			532,159			1,529,833	1,448,078
Depreciation and amortization	(75,558)			(74,986)			(225,865)	(223,679)
Investments in unconsolidated affiliates	413,877			417,573			413,877	417,573
Total assets	14,987,107			14,898,568			14,987,107	14,898,568
Capital expenditures	169,175			53,778			444,875	225,766
Natural Gas Pipelines
Segment disclosure [Abstract]
Revenues	136,928			120,480			418,154	481,738
Cost of sales and fuel (exclusive of depreciation and operating costs)	(4,460)			(344)			(22,196)	(10,901)
Operating costs	(43,823)			(41,020)			(126,231)	(121,843)
Equity in net earnings from investments	26,345			22,690			81,258	70,866
Noncash compensation expense and other	2,096			920			5,610	3,737
Segment adjusted EBITDA	117,086			102,726			356,595	423,597
Depreciation and amortization	(15,344)			(14,821)			(46,633)	(43,786)
Investments in unconsolidated affiliates	361,668			353,926			361,668	353,926
Total assets	2,204,942			2,129,406			2,204,942	2,129,406
Capital expenditures	39,644			24,587			82,135	73,540
Total Segments [Member]
Segment disclosure [Abstract]
Revenues	6,926,479			5,378,579			20,467,165	13,052,573
Cost of sales and fuel (exclusive of depreciation and operating costs)	(5,781,514)			(4,292,178)			(17,118,866)	(9,868,765)
Operating costs	(286,606)			(265,039)			(832,098)	(770,092)
Equity in net earnings from investments	39,180			28,573			111,150	87,613
Noncash compensation expense and other	8,256			14,607			29,841	33,985
Segment adjusted EBITDA	905,795			864,542			2,657,192	2,535,314
Depreciation and amortization	(156,009)			(153,557)			(465,458)	(465,515)
Investments in unconsolidated affiliates	803,807			797,233			803,807	797,233
Total assets	24,271,364			23,753,727			24,271,364	23,753,727
Capital expenditures	313,573			159,204			848,479	476,668
Other and Eliminations
Segment disclosure [Abstract]
Revenues	(1,012,948)			(842,404)			(3,112,304)	(1,932,755)
Cost of sales and fuel (exclusive of depreciation and operating costs)	1,008,840			843,051			3,102,245	1,931,149
Operating costs	422			(78)			4,533	(881)
Equity in net earnings from investments	0			0			0	0
Depreciation and amortization	(1,093)			(985)			(3,259)	(3,068)
Investments in unconsolidated affiliates	0			0			0	0
Total assets	167,879			118,604			167,879	118,604
Capital expenditures	13,158			7,003			37,562	13,661
Natural Gas Gathering and Processing Intersegment [Member] | Natural Gas Gathering And Processing [Member]
Segment disclosure [Abstract]
Revenues	1,000,000			837,700			3,100,000	1,900,000
Natural Gas Liquids Regulated [Member] | Natural Gas Liquids
Segment disclosure [Abstract]
Revenues	671,800			618,800			1,900,000	1,800,000
Cost of sales and fuel (exclusive of depreciation and operating costs)	(205,000)			(160,000)			(503,300)	(449,100)
Natural Gas Liquids Regulated [Member] | Natural Gas Liquids | Operating Segments [Member]
Segment disclosure [Abstract]
Revenues	620,900			567,700			1,700,000	1,600,000
Natural Gas Pipelines Regulated [Member] | Natural Gas Pipelines
Segment disclosure [Abstract]
Revenues	73,200			72,400			240,500	323,200
Cost of sales and fuel (exclusive of depreciation and operating costs)	(10,300)			(3,900)			(32,600)	(20,500)
Noncustomer [Domain]
Segment disclosure [Abstract]
Revenues	(56,500)			(178,700)			(363,900)	(386,900)
NGL and Condensate Sales [Member]
Segment disclosure [Abstract]
Revenues	4,733,368			3,830,792			14,246,163	9,051,212
NGL and Condensate Sales [Member] | Natural Gas Gathering And Processing [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	990,020			815,993			3,033,568	1,874,183
NGL and Condensate Sales [Member] | Natural Gas Liquids
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,749,230			3,853,078			14,308,502	9,097,512
NGL and Condensate Sales [Member] | Natural Gas Pipelines
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0			0			0	0
NGL and Condensate Sales [Member] | Total Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,739,250			4,669,071			17,342,070	10,971,695
NGL and Condensate Sales [Member] | Other and Eliminations
Segment disclosure [Abstract]
Revenues	(1,005,882)			(838,279)			(3,095,907)	(1,920,483)
Residue Natural Gas Sales [Member]
Segment disclosure [Abstract]
Revenues	827,447			370,820			2,065,252	1,056,328
Residue Natural Gas Sales [Member] | Natural Gas Gathering And Processing [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	824,558			370,801			2,035,330	940,850
Residue Natural Gas Sales [Member] | Natural Gas Liquids
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0			0			0	0
Residue Natural Gas Sales [Member] | Natural Gas Pipelines
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,889			19			30,254	115,478
Residue Natural Gas Sales [Member] | Total Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	827,447			370,820			2,065,584	1,056,328
Residue Natural Gas Sales [Member] | Other and Eliminations
Segment disclosure [Abstract]
Revenues	0			0			(332)	0
Gathering, Processing and Exchange Services Revenue
Segment disclosure [Abstract]
Revenues	175,873			168,969			519,145	477,650
Gathering, Processing and Exchange Services Revenue | Natural Gas Gathering And Processing [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	36,571			35,395			104,072	101,221
Gathering, Processing and Exchange Services Revenue | Natural Gas Liquids
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	139,302			133,574			415,073	376,429
Gathering, Processing and Exchange Services Revenue | Natural Gas Pipelines
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0			0			0	0
Gathering, Processing and Exchange Services Revenue | Total Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	175,873			168,969			519,145	477,650
Gathering, Processing and Exchange Services Revenue | Other and Eliminations
Segment disclosure [Abstract]
Revenues	0			0			0	0
Transportation and Storage Revenue [Member]
Segment disclosure [Abstract]
Revenues	171,459			157,259			507,843	482,094
Transportation and Storage Revenue [Member] | Natural Gas Gathering And Processing [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0			0			0	0
Transportation and Storage Revenue [Member] | Natural Gas Liquids
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,884			40,465			126,988	127,057
Transportation and Storage Revenue [Member] | Natural Gas Pipelines
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	133,789			120,294			387,211	365,578
Transportation and Storage Revenue [Member] | Total Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	173,673			160,759			514,199	492,635
Transportation and Storage Revenue [Member] | Other and Eliminations
Segment disclosure [Abstract]
Revenues	(2,214)			(3,500)			(6,356)	(10,541)
Other [Member]
Segment disclosure [Abstract]
Revenues	5,384			8,335			16,458	52,534
Other [Member] | Natural Gas Gathering And Processing [Member]
Segment disclosure [Abstract]
Revenues	7,453			6,294			17,558	15,422
Other [Member] | Natural Gas Liquids
Segment disclosure [Abstract]
Revenues	2,533			2,499			7,920	38,161
Other [Member] | Natural Gas Pipelines
Segment disclosure [Abstract]
Revenues	250			167			689	682
Other [Member] | Total Segments [Member]
Segment disclosure [Abstract]
Revenues	10,236			8,960			26,167	54,265
Other [Member] | Other and Eliminations
Segment disclosure [Abstract]
Revenues	$ (4,852)			$ (625)			$ (9,709)	$ (1,731)