2021 Q2 Form 10-Q Financial Statement

#000138365021000015 Filed on May 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1
Revenue $1.889B $1.963B $1.718B
YoY Change 28.5% 14.26% -1.77%
Cost Of Revenue $1.116B $1.183B $905.0M
YoY Change 81.17% 30.72% 2.96%
Gross Profit $773.0M $780.0M $813.0M
YoY Change -9.48% -4.06% -6.55%
Gross Profit Margin 40.92% 39.74% 47.32%
Selling, General & Admin $24.00M $23.00M $27.00M
YoY Change -25.0% -14.81% 12.5%
% of Gross Profit 3.1% 2.95% 3.32%
Research & Development $1.000M
YoY Change
% of Gross Profit 0.13%
Depreciation & Amortization $138.0M $139.0M $138.0M
YoY Change 0.0% 0.72% 21.05%
% of Gross Profit 17.85% 17.82% 16.97%
Operating Expenses $1.000M $162.0M $165.0M
YoY Change -1.82% -86.09%
Operating Profit $604.0M $618.0M $664.0M
YoY Change -11.7% -6.93% 17.94%
Interest Expense $209.0M $217.0M $234.0M
YoY Change -11.44% -7.26% 25.13%
% of Operating Profit 34.6% 35.11% 35.24%
Other Income/Expense, Net -$209.0M -$271.0M -$229.0M
YoY Change -24.82% 18.34% 28.65%
Pretax Income $395.0M $347.0M $435.0M
YoY Change -2.71% -20.23% 12.99%
Income Tax
% Of Pretax Income
Net Earnings $395.0M $347.0M $435.0M
YoY Change -2.71% -20.23% 12.99%
Net Earnings / Revenue 20.91% 17.68% 25.32%
Basic Earnings Per Share
Diluted Earnings Per Share $816.1K $716.9K $898.8K
COMMON SHARES
Basic Shares Outstanding 484.0M shares 484.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.239B $1.219B $1.734B
YoY Change -7.61% -29.7%
Cash & Equivalents $1.239B $1.219B $1.734B
Short-Term Investments
Other Short-Term Assets $97.00M $59.00M $49.00M
YoY Change -3.0% 20.41% 6.52%
Inventory $116.0M $103.0M $98.00M
Prepaid Expenses
Receivables $264.0M $349.0M $432.0M
Other Receivables $21.00M $24.00M $11.00M
Total Short-Term Assets $2.045B $2.120B $2.448B
YoY Change -5.46% -13.4% 17.13%
LONG-TERM ASSETS
Property, Plant & Equipment $16.79B $16.73B $16.48B
YoY Change 1.24% 1.57% 5.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $159.0M $177.0M $156.0M
YoY Change 1.27% 13.46% -2.5%
Total Long-Term Assets $17.08B $17.03B $16.79B
YoY Change 1.09% 1.48% 5.47%
TOTAL ASSETS
Total Short-Term Assets $2.045B $2.120B $2.448B
Total Long-Term Assets $17.08B $17.03B $16.79B
Total Assets $19.12B $19.15B $19.23B
YoY Change 0.35% -0.42% 6.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.00M $11.00M $8.000M
YoY Change 33.33% 37.5% -74.19%
Accrued Expenses $649.0M $704.0M $569.0M
YoY Change 58.29% 23.73% -21.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.996B
YoY Change -100.0%
Long-Term Debt Due $654.0M $850.0M $1.996B
YoY Change -57.41%
Total Short-Term Liabilities $1.506B $1.739B $2.715B
YoY Change 205.48% -35.95% 192.56%
LONG-TERM LIABILITIES
Long-Term Debt $16.94B $16.73B $15.59B
YoY Change -3.59% 7.32% -3.0%
Other Long-Term Liabilities $0.00 $0.00 $1.000M
YoY Change -100.0% -100.0% -75.0%
Total Long-Term Liabilities $16.94B $16.73B $15.59B
YoY Change -3.6% 7.31% -3.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.506B $1.739B $2.715B
Total Long-Term Liabilities $16.94B $16.73B $15.59B
Total Liabilities $18.44B $18.47B $18.31B
YoY Change 2.11% 0.9% 7.66%
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 $571.0M $535.0M $820.0M
YoY Change
Total Liabilities & Shareholders Equity $19.12B $19.15B $19.23B
YoY Change 0.35% -0.42% 6.82%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $395.0M $347.0M $435.0M
YoY Change -2.71% -20.23% 12.99%
Depreciation, Depletion And Amortization $138.0M $139.0M $138.0M
YoY Change 0.0% 0.72% 21.05%
Cash From Operating Activities $487.0M $588.0M $535.0M
YoY Change 43.66% 9.91% 55.52%
INVESTING ACTIVITIES
Capital Expenditures -$170.0M $146.0M $317.0M
YoY Change -35.61% -53.94% 12.01%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$170.0M -$146.0M -$317.0M
YoY Change -35.61% -53.94% 11.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -355.0M -$407.0M -$337.0M
YoY Change -13.41% 20.77% 10.86%
NET CHANGE
Cash From Operating Activities 487.0M $588.0M $535.0M
Cash From Investing Activities -170.0M -$146.0M -$317.0M
Cash From Financing Activities -355.0M -$407.0M -$337.0M
Net Change In Cash -38.00M $35.00M -$119.0M
YoY Change -88.66% -129.41% -51.23%
FREE CASH FLOW
Cash From Operating Activities $487.0M $588.0M $535.0M
Capital Expenditures -$170.0M $146.0M $317.0M
Free Cash Flow $657.0M $442.0M $218.0M
YoY Change 8.96% 102.75% 257.38%

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CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1500000000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2021Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1500000000 USD
CY2020Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
19000000 USD
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7000000 USD
CY2021Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
40000000 USD
CY2020Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2021Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
351000000 USD
CY2020Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
330000000 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
3000000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-407000000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-337000000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
35000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-119000000 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
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1342000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1843000000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1219000000 USD
CY2021Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
123000000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1342000000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
349000000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
300000000 USD
CY2021Q1 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
24000000 USD
CY2020Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
18000000 USD
CY2021Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
373000000 USD
CY2020Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
318000000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
103000000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
107000000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16734000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16723000000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
138000000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
137000000 USD
CY2021Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-43000000 USD
CY2020Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-21000000 USD
CY2021Q1 us-gaap Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
5023 tbtu
CY2020Q4 us-gaap Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
4970 tbtu
CY2021Q1 us-gaap Derivative Assets
DerivativeAssets
25000000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
25000000 USD
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
68000000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
46000000 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-43000000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-21000000 USD
CY2021Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
11000000 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
4000000 USD
CY2021Q1 cqp Advances Made To Municipalities
AdvancesMadeToMunicipalities
83000000 USD
CY2020Q4 cqp Advances Made To Municipalities
AdvancesMadeToMunicipalities
84000000 USD
CY2021Q1 cqp Advances And Other Asset Conveyances To Third Parties
AdvancesAndOtherAssetConveyancesToThirdParties
33000000 USD
CY2020Q4 cqp Advances And Other Asset Conveyances To Third Parties
AdvancesAndOtherAssetConveyancesToThirdParties
33000000 USD
CY2021Q1 cqp Advances Made Under Long Term Contracts
AdvancesMadeUnderLongTermContracts
22000000 USD
CY2020Q4 cqp Advances Made Under Long Term Contracts
AdvancesMadeUnderLongTermContracts
9000000 USD
CY2021Q1 cqp Tax Related Payments And Receivables
TaxRelatedPaymentsAndReceivables
17000000 USD
CY2020Q4 cqp Tax Related Payments And Receivables
TaxRelatedPaymentsAndReceivables
17000000 USD
CY2021Q1 cqp Information Technology Service Assets
InformationTechnologyServiceAssets
5000000 USD
CY2020Q4 cqp Information Technology Service Assets
InformationTechnologyServiceAssets
6000000 USD
CY2021Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
17000000 USD
CY2020Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
11000000 USD
CY2021Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
177000000 USD
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
160000000 USD
CY2021Q1 us-gaap Interest Payable Current
InterestPayableCurrent
226000000 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
203000000 USD
CY2021Q1 cqp Accrued Natural Gas Purchases
AccruedNaturalGasPurchases
382000000 USD
CY2020Q4 cqp Accrued Natural Gas Purchases
AccruedNaturalGasPurchases
374000000 USD
CY2021Q1 cqp Accrued Ln Gterminalcosts
AccruedLNGterminalcosts
80000000 USD
CY2020Q4 cqp Accrued Ln Gterminalcosts
AccruedLNGterminalcosts
71000000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16000000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10000000 USD
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
704000000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
658000000 USD
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
16732000000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
17580000000 USD
CY2021Q1 us-gaap Debt Current
DebtCurrent
850000000 USD
CY2020Q4 us-gaap Debt Current
DebtCurrent
0 USD
CY2021Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
17582000000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
17580000000 USD
CY2021Q1 cqp Gains Losseson Modificationor Extinguishmentof Debt
GainsLossesonModificationorExtinguishmentofDebt
-54000000 USD
CY2021Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
247000000 USD
CY2020Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
254000000 USD
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
30000000 USD
CY2020Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
20000000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
217000000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
234000000 USD
CY2021Q1 us-gaap Revenues
Revenues
1963000000 USD
CY2020Q1 us-gaap Revenues
Revenues
1718000000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1000000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
137000000 USD
CY2021Q1 cqp Contractwith Customer Liability Additions
ContractwithCustomerLiabilityAdditions
101000000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
137000000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
101000000 USD
CY2020Q4 cqp Contract With Customer Liability Affiliate
ContractWithCustomerLiabilityAffiliate
1000000 USD
CY2021Q1 cqp Contract With Customer Liability Additions Affiliate
ContractWithCustomerLiabilityAdditionsAffiliate
5000000 USD
CY2021Q1 cqp Contract With Customer Liability Revenue Recognized Affiliate
ContractWithCustomerLiabilityRevenueRecognizedAffiliate
1000000 USD
CY2021Q1 cqp Contract With Customer Liability Affiliate
ContractWithCustomerLiabilityAffiliate
5000000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
53700000000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
54300000000 USD
CY2021Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
214000000 USD
CY2020Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
188000000 USD
CY2021Q1 us-gaap Affiliate Costs
AffiliateCosts
42000000 USD
CY2020Q1 us-gaap Affiliate Costs
AffiliateCosts
0 USD
CY2021Q1 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
98000000 USD
CY2020Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
184000000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
347000000 USD
CY2021Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
356000000 USD
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-9000000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
435000000 USD
CY2020Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
336000000 USD
CY2020Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
99000000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
185000000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
211000000 USD
CY2021Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
229000000 USD
CY2020Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
219000000 USD

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