2021 Q1 Form 10-K Financial Statement

#000138365021000005 Filed on February 24, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020
Revenue $1.963B $1.997B $6.167B
YoY Change 14.26% 4.66% -9.81%
Cost Of Revenue $1.183B $1.209B $3.376B
YoY Change 30.72% 8.43% -20.04%
Gross Profit $780.0M $788.0M $2.791B
YoY Change -4.06% -0.63% 6.69%
Gross Profit Margin 39.74% 39.46% 45.26%
Selling, General & Admin $23.00M $25.00M $110.0M
YoY Change -14.81% 13.64% -2.65%
% of Gross Profit 2.95% 3.17% 3.94%
Research & Development $0.00
YoY Change
% of Gross Profit 0.0%
Depreciation & Amortization $139.0M $138.0M $551.0M
YoY Change 0.72% 0.73% 4.55%
% of Gross Profit 17.82% 17.51% 19.74%
Operating Expenses $162.0M $163.0M $0.00
YoY Change -1.82% 2.52% -100.0%
Operating Profit $618.0M $625.0M $2.125B
YoY Change -6.93% -7.54% 4.17%
Interest Expense $217.0M -$218.0M $909.0M
YoY Change -7.26% 12.37% 2.71%
% of Operating Profit 35.11% -34.88% 42.78%
Other Income/Expense, Net -$271.0M $2.000M -$942.0M
YoY Change 18.34% -77.78% 8.9%
Pretax Income $347.0M $409.0M $1.183B
YoY Change -20.23% -8.71% 0.68%
Income Tax
% Of Pretax Income
Net Earnings $347.0M $409.0M $1.183B
YoY Change -20.23% -8.71% 0.68%
Net Earnings / Revenue 17.68% 20.48% 19.18%
Basic Earnings Per Share
Diluted Earnings Per Share $716.9K $783.5K $2.444M
COMMON SHARES
Basic Shares Outstanding 484.0M shares 484.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.219B $1.210B $1.210B
YoY Change -29.7% -32.06% -32.06%
Cash & Equivalents $1.219B $1.210B $1.210B
Short-Term Investments
Other Short-Term Assets $59.00M $61.00M $172.0M
YoY Change 20.41% 19.61% -31.2%
Inventory $103.0M $107.0M $107.0M
Prepaid Expenses
Receivables $349.0M $300.0M $628.0M
Other Receivables $24.00M $18.00M $18.00M
Total Short-Term Assets $2.120B $2.135B $2.135B
YoY Change -13.4% -21.13% -21.13%
LONG-TERM ASSETS
Property, Plant & Equipment $16.73B $16.72B $16.82B
YoY Change 1.57% 2.17% 2.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $177.0M $160.0M $45.00M
YoY Change 13.46% -4.76% -26.23%
Total Long-Term Assets $17.03B $17.01B $17.01B
YoY Change 1.48% 2.0% 2.0%
TOTAL ASSETS
Total Short-Term Assets $2.120B $2.135B $2.135B
Total Long-Term Assets $17.03B $17.01B $17.01B
Total Assets $19.15B $19.15B $19.15B
YoY Change -0.42% -1.23% -1.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.00M $12.00M $12.00M
YoY Change 37.5% -70.0% -70.0%
Accrued Expenses $704.0M $658.0M $669.0M
YoY Change 23.73% -7.19% -6.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $850.0M
YoY Change -57.41%
Total Short-Term Liabilities $1.739B $883.0M $883.0M
YoY Change -35.95% -8.59% -8.59%
LONG-TERM LIABILITIES
Long-Term Debt $16.73B $17.58B $17.58B
YoY Change 7.32% 0.01% 0.01%
Other Long-Term Liabilities $0.00 $1.000M $143.0M
YoY Change -100.0% 0.0% 15.32%
Total Long-Term Liabilities $16.73B $17.58B $17.72B
YoY Change 7.31% 0.01% 0.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.739B $883.0M $883.0M
Total Long-Term Liabilities $16.73B $17.58B $17.72B
Total Liabilities $18.47B $18.46B $18.61B
YoY Change 0.9% -0.44% -0.34%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $535.0M $539.0M $539.0M
YoY Change
Total Liabilities & Shareholders Equity $19.15B $19.15B $19.15B
YoY Change -0.42% -1.23% -1.23%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $347.0M $409.0M $1.183B
YoY Change -20.23% -8.71% 0.68%
Depreciation, Depletion And Amortization $139.0M $138.0M $551.0M
YoY Change 0.72% 0.73% 4.55%
Cash From Operating Activities $588.0M $418.0M $1.751B
YoY Change 9.91% -26.67% 13.19%
INVESTING ACTIVITIES
Capital Expenditures $146.0M -$177.0M $972.0M
YoY Change -53.94% 1.14% -26.97%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$146.0M -$177.0M -$972.0M
YoY Change -53.94% 1.14% -27.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.000B
YoY Change
Cash From Financing Activities -$407.0M -345.0M -$1.434B
YoY Change 20.77% 6.15% -796.12%
NET CHANGE
Cash From Operating Activities $588.0M 418.0M $1.751B
Cash From Investing Activities -$146.0M -177.0M -$972.0M
Cash From Financing Activities -$407.0M -345.0M -$1.434B
Net Change In Cash $35.00M -104.0M -$655.0M
YoY Change -129.41% -248.57% -255.58%
FREE CASH FLOW
Cash From Operating Activities $588.0M $418.0M $1.751B
Capital Expenditures $146.0M -$177.0M $972.0M
Free Cash Flow $442.0M $595.0M $779.0M
YoY Change 102.75% -20.13% 260.65%

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-8000000 USD
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-14000000 USD
CY2019 us-gaap Other Noncash Income Expense
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-11000000 USD
CY2018 us-gaap Other Noncash Income Expense
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-2000000 USD
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-2000000 USD
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21000000 USD
CY2019 us-gaap Increase Decrease In Accounts And Other Receivables
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-16000000 USD
CY2018 us-gaap Increase Decrease In Accounts And Other Receivables
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122000000 USD
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80000000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable Related Parties
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-9000000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable Related Parties
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-47000000 USD
CY2020 cqp Increase Decrease In Advances To Affiliate
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-8000000 USD
CY2019 cqp Increase Decrease In Advances To Affiliate
IncreaseDecreaseInAdvancesToAffiliate
41000000 USD
CY2018 cqp Increase Decrease In Advances To Affiliate
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84000000 USD
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-8000000 USD
CY2019 us-gaap Increase Decrease In Inventories
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16000000 USD
CY2018 us-gaap Increase Decrease In Inventories
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5000000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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0 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-126000000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
183000000 USD
CY2020 cqp Increase Decrease In Accrued Liabilities Related Parties
IncreaseDecreaseInAccruedLiabilitiesRelatedParties
4000000 USD
CY2019 cqp Increase Decrease In Accrued Liabilities Related Parties
IncreaseDecreaseInAccruedLiabilitiesRelatedParties
0 USD
CY2018 cqp Increase Decrease In Accrued Liabilities Related Parties
IncreaseDecreaseInAccruedLiabilitiesRelatedParties
0 USD
CY2020 us-gaap Increase Decrease In Due To Affiliates
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9000000 USD
CY2019 us-gaap Increase Decrease In Due To Affiliates
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6000000 USD
CY2018 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-6000000 USD
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-18000000 USD
CY2019 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
39000000 USD
CY2018 us-gaap Increase Decrease In Deferred Revenue
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3000000 USD
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
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28000000 USD
CY2019 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
36000000 USD
CY2018 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
12000000 USD
CY2020 cqp Increase Decrease In Other Operating Activities Affiliate
IncreaseDecreaseInOtherOperatingActivitiesAffiliate
2000000 USD
CY2019 cqp Increase Decrease In Other Operating Activities Affiliate
IncreaseDecreaseInOtherOperatingActivitiesAffiliate
2000000 USD
CY2018 cqp Increase Decrease In Other Operating Activities Affiliate
IncreaseDecreaseInOtherOperatingActivitiesAffiliate
2000000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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1751000000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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1547000000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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1874000000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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972000000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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1331000000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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804000000 USD
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
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0 USD
CY2019 us-gaap Payments For Proceeds From Other Investing Activities
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1000000 USD
CY2018 us-gaap Payments For Proceeds From Other Investing Activities
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0 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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-972000000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1332000000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-804000000 USD
CY2020 us-gaap Proceeds From Issuance Of Debt
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1995000000 USD
CY2019 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
2230000000 USD
CY2018 us-gaap Proceeds From Issuance Of Debt
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1100000000 USD
CY2020 us-gaap Repayments Of Debt
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2000000000 USD
CY2019 us-gaap Repayments Of Debt
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730000000 USD
CY2018 us-gaap Repayments Of Debt
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1090000000 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
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35000000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
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35000000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
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8000000 USD
CY2020 us-gaap Payments Of Debt Extinguishment Costs
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39000000 USD
CY2019 us-gaap Payments Of Debt Extinguishment Costs
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4000000 USD
CY2018 us-gaap Payments Of Debt Extinguishment Costs
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7000000 USD
CY2020 us-gaap Payments Of Capital Distribution
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1359000000 USD
CY2019 us-gaap Payments Of Capital Distribution
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1260000000 USD
CY2018 us-gaap Payments Of Capital Distribution
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1113000000 USD
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4000000 USD
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
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5000000 USD
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
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-1434000000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
206000000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1118000000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-655000000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
421000000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-48000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1962000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1541000000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1589000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1307000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1962000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1541000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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1210000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1781000000 USD
CY2020Q4 us-gaap Restricted Cash Current
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97000000 USD
CY2019Q4 us-gaap Restricted Cash Current
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181000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1307000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1962000000 USD
CY2020 us-gaap Nature Of Operations
NatureOfOperations
ORGANIZATION AND NATURE OF OPERATIONS<div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are a publicly traded Delaware limited partnership formed by Cheniere in 2006. The Sabine Pass LNG terminal is located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast. Through our subsidiary, SPL, we are currently operating five natural gas liquefaction Trains and are constructing one additional Train that is expected to be substantially completed in the second half of 2022, for a total production capacity of approximately 30 mtpa of LNG (the “Liquefaction Project”) at the Sabine Pass LNG terminal. Through our subsidiary, SPLNG, we own and operate regasification facilities at</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Sabine Pass LNG terminal, which includes pre-existing infr</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">astructure of five LNG storage tanks, two marine berths and vaporizers and an additional marine berth that is under construction. </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We also own</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> a 94-mile pipeline through our subsidiary, CTPL, that interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines (the “Creole Trail Pipeline”).</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2020, Cheniere owned 48.6% of our limited partner interest in the form of 239.9 million of our common units. Cheniere also owns 100% of our general partner interest and our incentive distribution rights (“IDRs”).</span></div>
CY2020 us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Management evaluates its estimates and related assumptions regularly, including those related to fair value measurements, revenue recognition, property, plant and equipment, derivative instruments, leases and asset retirement obligations (“AROs”), as further discussed under the respective sections within this note. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.</span></div>
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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0 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5000000 USD
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0 USD
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
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0 USD
CY2020Q4 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
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0 USD
CY2019Q4 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
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CY2020 us-gaap Concentration Risk Credit Risk
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents, restricted cash, derivative instruments and accounts receivable. We maintain cash balances at financial institutions, which may at times be in excess of federally insured levels. We have not incurred losses related to these balances to date.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The use of derivative instruments exposes us to counterparty credit risk, or the risk that a counterparty will be unable to meet its commitments. Certain of our commodity derivative transactions are executed through over-the-counter contracts which are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment grade financial institutions. Collateral deposited for such contracts is recorded within other current assets. Our interest rate derivative instruments are placed with investment grade financial institutions whom we believe are acceptable credit risks. We monitor counterparty creditworthiness on an ongoing basis; however, we cannot predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, we may be limited in our ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, we may not realize the benefit of some of our derivative instruments.</span></div><div style="text-align:justify;text-indent:27pt"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">SPL has entered into fixed price long-term SPAs generally with terms of 20 years with eight third parties and has entered into agreements with Cheniere Marketing. SPL is dependent on the respective customers’ creditworthiness and their willingness to perform under their respective SPAs. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#iee7000029b914552a6c89d12fa5f0245_127" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 17—Customer Concentration</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional details about our customer concentration.</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div>SPLNG has entered into two long-term TUAs with third parties for regasification capacity at the Sabine Pass LNG terminal. SPLNG is dependent on the respective customers’ creditworthiness and their willingness to perform under their respective TUAs. SPLNG has mitigated this credit risk by securing TUAs for a significant portion of its regasification capacity with creditworthy third-party customers with a minimum Standard &amp; Poor’s rating of A.
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8200000000 USD
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300000000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
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283000000 USD
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18000000 USD
CY2019Q4 us-gaap Other Receivables Gross Current
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14000000 USD
CY2020Q4 us-gaap Receivables Net Current
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318000000 USD
CY2019Q4 us-gaap Receivables Net Current
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297000000 USD
CY2020Q4 us-gaap Inventory Net
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107000000 USD
CY2019Q4 us-gaap Inventory Net
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116000000 USD
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16723000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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16368000000 USD
CY2020 us-gaap Depreciation
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547000000 USD
CY2019 us-gaap Depreciation
Depreciation
523000000 USD
CY2018 us-gaap Depreciation
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413000000 USD
CY2020 cqp Property Plant And Equipment Reduction For Testing Costs Recovered
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0 USD
CY2019 cqp Property Plant And Equipment Reduction For Testing Costs Recovered
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48000000 USD
CY2018 cqp Property Plant And Equipment Reduction For Testing Costs Recovered
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94000000 USD
CY2020Q4 us-gaap Derivative Assets
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25000000 USD
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4970 tbtu
CY2019Q4 us-gaap Derivative Nonmonetary Notional Amount
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3663 tbtu
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-21000000 USD
CY2019Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
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24000000 USD
CY2019Q4 us-gaap Derivative Assets
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49000000 USD
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46000000 USD
CY2019Q4 us-gaap Derivative Liabilities
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25000000 USD
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-21000000 USD
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24000000 USD
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4000000 USD
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2000000 USD
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87000000 USD
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33000000 USD
CY2019Q4 cqp Advances And Other Asset Conveyances To Third Parties
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35000000 USD
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17000000 USD
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17000000 USD
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6000000 USD
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6000000 USD
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9000000 USD
CY2019Q4 cqp Advances Made Under Long Term Contracts
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15000000 USD
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11000000 USD
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168000000 USD
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203000000 USD
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241000000 USD
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374000000 USD
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325000000 USD
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71000000 USD
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135000000 USD
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CY2020Q4 us-gaap Accrued Liabilities Current
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658000000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
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709000000 USD
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17580000000 USD
CY2019Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Short Term Borrowings
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CY2019Q4 us-gaap Short Term Borrowings
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17580000000 USD
CY2019Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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17579000000 USD
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0 USD
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1000000000 USD
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1500000000 USD
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9727000000 USD
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1005000000 USD
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936000000 USD
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87000000 USD
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203000000 USD
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885000000 USD
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733000000 USD
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16000000 USD
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11000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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11000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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11000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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11000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
11000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
116000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
171000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
74000000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
97000000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P24Y6M
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
11000000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
10000000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6167000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6837000000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6427000000 USD
CY2020 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
0 USD
CY2019 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1000000 USD
CY2018 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-1000000 USD
CY2020 us-gaap Revenues
Revenues
6167000000 USD
CY2019 us-gaap Revenues
Revenues
6838000000 USD
CY2018 us-gaap Revenues
Revenues
6426000000 USD
CY2020 cqp Lng Volume Purchase Price Percentageof Henry Hub
LNGVolumePurchasePricePercentageofHenryHub
1.15
CY2020 cqp Regasification Capacity
RegasificationCapacity
4 unit
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
155000000 USD
CY2020 cqp Contractwith Customer Liability Additions
ContractwithCustomerLiabilityAdditions
137000000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
155000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
137000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
54300000000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
57400000000 USD
CY2020 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
662000000 USD
CY2019 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1312000000 USD
CY2018 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1299000000 USD
CY2020 us-gaap Affiliate Costs
AffiliateCosts
77000000 USD
CY2019 us-gaap Affiliate Costs
AffiliateCosts
7000000 USD
CY2018 us-gaap Affiliate Costs
AffiliateCosts
0 USD
CY2020Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
184000000 USD
CY2019Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
105000000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
1183000000 USD
CY2020 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
1375000000 USD
CY2020 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-192000000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
1175000000 USD
CY2019 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
1278000000 USD
CY2019 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-103000000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
1274000000 USD
CY2018 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
1162000000 USD
CY2018 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
112000000 USD
CY2020Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
982000000 USD
CY2020Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 item
CY2020Q2 us-gaap Revenues
Revenues
1470000000 USD
CY2020Q3 us-gaap Revenues
Revenues
982000000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
904000000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
829000000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
719000000 USD
CY2020 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
212000000 USD
CY2019 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
291000000 USD
CY2018 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
263000000 USD
CY2020Q1 us-gaap Revenues
Revenues
1718000000 USD
CY2020Q4 us-gaap Revenues
Revenues
1997000000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
664000000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
684000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
152000000 USD
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
625000000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
435000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
406000000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-67000000 USD
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
409000000 USD
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.84
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.78
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.77
CY2019Q1 us-gaap Revenues
Revenues
1749000000 USD
CY2019Q2 us-gaap Revenues
Revenues
1705000000 USD
CY2019Q3 us-gaap Revenues
Revenues
1476000000 USD
CY2019Q4 us-gaap Revenues
Revenues
1908000000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
563000000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
455000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
346000000 USD
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
676000000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
385000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
232000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
110000000 USD
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
448000000 USD
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.75
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.44
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.19
CY2019Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.87

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