2016 Q4 Form 10-K Financial Statement

#000000357018000031 Filed on February 21, 2018

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $572.0M $465.0M $177.0M
YoY Change 735.87% 603.92% 160.2%
Cost Of Revenue $321.6M $253.0M $85.00M
YoY Change 957.89% -1144.85% 5786.43%
Gross Profit $250.0M $212.0M $92.00M
YoY Change 557.89% 134.84% 38.18%
Gross Profit Margin 43.71% 45.59% 51.98%
Selling, General & Admin $62.70M $59.00M $72.00M
YoY Change -60.98% -39.38% -33.24%
% of Gross Profit 25.08% 27.83% 78.26%
Research & Development $2.000M $1.000M
YoY Change -59.47% -93.98%
% of Gross Profit 0.94% 1.09%
Depreciation & Amortization $68.00M $49.00M $33.00M
YoY Change 194.37% 126.45% 63.74%
% of Gross Profit 27.2% 23.11% 35.87%
Operating Expenses $134.4M $450.0M $253.0M
YoY Change -28.47% 280.93% 54.36%
Operating Profit $122.0M $15.00M -$76.00M
YoY Change -150.6% -128.81% -20.73%
Interest Expense $93.60M $148.0M $106.0M
YoY Change -308.46% 58.18% 24.0%
% of Operating Profit 76.72% 986.67%
Other Income/Expense, Net $5.700M -$144.0M -$260.0M
YoY Change 375.0% -43.55% 459.92%
Pretax Income $149.5M -$129.0M -$336.0M
YoY Change -147.79% -58.0% 136.11%
Income Tax $0.00 $2.000M -$1.000M
% Of Pretax Income 0.0%
Net Earnings $110.0M -$101.0M -$298.0M
YoY Change -137.79% -66.09% 151.49%
Net Earnings / Revenue 19.23% -21.72% -168.36%
Basic Earnings Per Share
Diluted Earnings Per Share $477.6K -$438.6K -$1.307M
COMMON SHARES
Basic Shares Outstanding 235.0M shares 228.9M shares 228.3M shares
Diluted Shares Outstanding 228.9M shares 228.3M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $876.0M $990.0M $1.049B
YoY Change -27.06% -26.12% -28.64%
Cash & Equivalents $876.0M $990.1M $1.049B
Short-Term Investments
Other Short-Term Assets $100.0M $69.03M $75.94M
YoY Change 96.9% -90.54% -90.16%
Inventory $160.0M $63.85M $66.32M
Prepaid Expenses
Receivables $88.00M $38.00M $67.00M
Other Receivables $130.0M $116.0M $7.000M
Total Short-Term Assets $2.238B $2.105B $1.990B
YoY Change 25.55% 0.88% -12.06%
LONG-TERM ASSETS
Property, Plant & Equipment $20.64B $19.89B $18.73B
YoY Change 27.42% 30.65% 35.73%
Goodwill $77.00M $76.82M $76.82M
YoY Change 0.24% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $10.00M $11.06M $11.98M
YoY Change -50.73%
Other Assets $302.0M $279.4M $251.5M
YoY Change -3.96% 2.04% 13.07%
Total Long-Term Assets $21.47B $20.58B $19.45B
YoY Change 26.07% 25.78% 25.49%
TOTAL ASSETS
Total Short-Term Assets $2.238B $2.105B $1.990B
Total Long-Term Assets $21.47B $20.58B $19.45B
Total Assets $23.70B $22.69B $21.44B
YoY Change 26.02% 22.96% 20.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.00M $38.57M $48.68M
YoY Change 114.72% 233.7% 104.53%
Accrued Expenses $637.0M $700.0M $589.6M
YoY Change 49.11% 52.87% 4.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $247.0M
YoY Change
Total Short-Term Liabilities $1.077B $2.609B $2.415B
YoY Change -50.72% 392.04% 276.77%
LONG-TERM LIABILITIES
Long-Term Debt $21.69B $19.03B $17.79B
YoY Change 45.36% 20.19% 19.75%
Other Long-Term Liabilities $49.00M $65.85M $50.38M
YoY Change -7.67% -22.74% 36.12%
Total Long-Term Liabilities $21.74B $19.10B $17.84B
YoY Change 45.17% 19.96% 19.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.077B $2.609B $2.415B
Total Long-Term Liabilities $21.74B $19.10B $17.84B
Total Liabilities $22.81B $21.71B $20.25B
YoY Change 32.96% 31.95% 30.4%
SHAREHOLDERS EQUITY
Retained Earnings -$4.234B -$4.344B -$4.243B
YoY Change 16.83% 30.33% 39.81%
Common Stock $0.00 $705.0K $707.0K
YoY Change -0.42% -0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $374.0M $372.5M $357.5M
YoY Change 5.67% 10.52% 19.59%
Treasury Stock Shares 12.20M shares 12.12M shares 11.76M shares
Shareholders Equity -$1.396B -$1.603B -$1.494B
YoY Change
Total Liabilities & Shareholders Equity $23.70B $22.69B $21.44B
YoY Change 26.02% 22.96% 20.71%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $110.0M -$101.0M -$298.0M
YoY Change -137.79% -66.09% 151.49%
Depreciation, Depletion And Amortization $68.00M $49.00M $33.00M
YoY Change 194.37% 126.45% 63.74%
Cash From Operating Activities -$84.80M -$175.0M -$13.00M
YoY Change -59.21% -957.84% -95.37%
INVESTING ACTIVITIES
Capital Expenditures -$906.6M -$1.172B -$1.128B
YoY Change -17.95% -19.36% -69.56%
Acquisitions
YoY Change
Other Investing Activities -$7.800M -$2.308B $2.276B
YoY Change -99.85% -302.97% -35.98%
Cash From Investing Activities -$914.4M -$3.480B $1.149B
YoY Change -85.83% 1002.57% -873.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 976.6M 3.919B -1.411B
YoY Change -83.79% 2272.46% 445.11%
NET CHANGE
Cash From Operating Activities -84.80M -175.0M -13.00M
Cash From Investing Activities -914.4M -3.480B 1.149B
Cash From Financing Activities 976.6M 3.919B -1.411B
Net Change In Cash -22.60M 264.6M -275.6M
YoY Change -96.45% -303.54% -59.95%
FREE CASH FLOW
Cash From Operating Activities -$84.80M -$175.0M -$13.00M
Capital Expenditures -$906.6M -$1.172B -$1.128B
Free Cash Flow $821.8M $996.5M $1.115B
YoY Change -8.39% -32.36% -67.44%

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CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
188000000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
13000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
30000000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
53000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
16000000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1252000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
806000000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Financing Arrangements
DeferredTaxLiabilitiesFinancingArrangements
118000000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Financing Arrangements
DeferredTaxLiabilitiesFinancingArrangements
65000000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
76000000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
391000000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
5000000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
6000000 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5000000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
6000000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
7000000 USD
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0 USD
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2017 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2015 us-gaap Depreciation
Depreciation
82000000 USD
CY2016 us-gaap Depreciation
Depreciation
173000000 USD
CY2017 us-gaap Depreciation
Depreciation
354000000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
83000000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
174000000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
356000000 USD
CY2016Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
24000000 USD
CY2017Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
57000000 USD
CY2016Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
83000000 USD
CY2017Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
34000000 USD
CY2015 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-168000000 USD
CY2016 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
28000000 USD
CY2017 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-62000000 USD
CY2016Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
71000000 USD
CY2017Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
37000000 USD
CY2016Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
45000000 USD
CY2017Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
19000000 USD
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.30
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.41
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.31
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.44
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.48
CY2016 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.67
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.23
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.23
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.24
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.54
CY2017 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.68
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.001
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.003
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.005
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.301
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.275
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1.097
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.714
CY2015 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.023
CY2016 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.021
CY2017 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.029
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.026
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.066
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.085
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.062
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.018
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.009
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.012
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.019
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.018
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.002
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
56000000 USD
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
141000000 USD
CY2015 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
23000000 USD
CY2016 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
16000000 USD
CY2017 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
23000000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5000000 USD
CY2016Q4 us-gaap Equity Method Investments
EquityMethodInvestments
10000000 USD
CY2017Q4 us-gaap Equity Method Investments
EquityMethodInvestments
64000000 USD
CY2015 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-204000000 USD
CY2016 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-10000000 USD
CY2015 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
100000000 USD
CY2016 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
45000000 USD
CY2017 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
106000000 USD
CY2017 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
7000000 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-124000000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-135000000 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-100000000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
77000000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
77000000 USD
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
55000000 USD
CY2016 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
10000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1097000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-663000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
566000000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000 USD
CY2017 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-404000000 USD
CY2015 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1000000 USD
CY2016 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
207000000 USD
CY2017 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
139000000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2000000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
64000000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
225000000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
0 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
0 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
2000000 USD
CY2015 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4000000 USD
CY2016 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
42000000 USD
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
34000000 USD
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
28000000 USD
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
119000000 USD
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
73000000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
19000000 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
12000000 USD
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
39000000 USD
CY2015 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
675000000 USD
CY2016 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
813000000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
779000000 USD
CY2015 us-gaap Interest Costs Incurred
InterestCostsIncurred
997000000 USD
CY2016 us-gaap Interest Costs Incurred
InterestCostsIncurred
1301000000 USD
CY2017 us-gaap Interest Costs Incurred
InterestCostsIncurred
1526000000 USD
CY2015 us-gaap Interest Expense
InterestExpense
322000000 USD
CY2016 us-gaap Interest Expense
InterestExpense
488000000 USD
CY2017 us-gaap Interest Expense
InterestExpense
747000000 USD
CY2015 us-gaap Interest Paid Net
InterestPaidNet
123000000 USD
CY2016 us-gaap Interest Paid Net
InterestPaidNet
66000000 USD
CY2017 us-gaap Interest Paid Net
InterestPaidNet
305000000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
243000000 USD
CY2015 us-gaap Inventory Write Down
InventoryWriteDown
18000000 USD
CY2016 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2016 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2017 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2017 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
41000000 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
86000000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
199000000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
23703000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
27906000000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1077000000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1251000000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
21688000000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
25336000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
18330000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
3485000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3161000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1035000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
55000000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
21688000000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
25336000000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
2235000000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
3004000000 USD
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
80000000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
80000000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
185000000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6423000000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4908000000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2936000000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6984000000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4413000000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3381000000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-483000000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-404000000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1231000000 USD
CY2015 us-gaap Net Income Loss
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-975000000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-321000000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-298000000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-101000000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
110000000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-610000000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
54000000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-285000000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-289000000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
127000000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-393000000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-122000000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-55000000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
956000000 USD
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-648000000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-633000000 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-822000000 USD
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 unit
CY2017 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 unit
CY2015 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
0 USD
CY2016 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
1016000000 USD
CY2017 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
5317000000 USD
CY2015 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
95000000 USD
CY2016 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
216000000 USD
CY2017 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
446000000 USD
CY2015 us-gaap Operating Expenses
OperatingExpenses
720000000 USD
CY2016 us-gaap Operating Expenses
OperatingExpenses
1313000000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
4213000000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-449000000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-91000000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-76000000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
15000000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
122000000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-30000000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
376000000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
274000000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
297000000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
441000000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
1388000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
756000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
140000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
19000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
58000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
76000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
119000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
127000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
236000000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
24000000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
50000000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
100000000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
96000000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
40000000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
24000000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
302000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
288000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
49000000 USD
CY2016 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
12865000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59000000 USD
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1000000 USD
CY2016 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4000000 USD
CY2017 us-gaap Other Noncash Income Expense
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CY2017 us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents and restricted cash. 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.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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 as other current asset. Our interest rate and FX 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&#8217; 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.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPL has entered into </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> fixed price SPAs with terms of at least </font><font style="font-family:inherit;font-size:10pt;">20</font><font style="font-family:inherit;font-size:10pt;"> years with </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> unaffiliated third parties. CCL has entered into </font><font style="font-family:inherit;font-size:10pt;">eight</font><font style="font-family:inherit;font-size:10pt;"> fixed price SPAs with terms of at least </font><font style="font-family:inherit;font-size:10pt;">20</font><font style="font-family:inherit;font-size:10pt;"> years with </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> unaffiliated third parties. SPL and CCL are dependent on the respective customers&#8217; creditworthiness and their willingness to perform under their respective SPAs. See </font><a style="font-family:inherit;font-size:10pt;" href="#s1FCA806BEE3D4DF3EB4DA6E1BB4518E0"><font style="font-family:inherit;font-size:10pt;">Note 20&#8212;Customer Concentration</font></a><font style="font-family:inherit;font-size:10pt;"> for additional details about our customer concentration.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPLNG has entered into </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> long-term TUAs with unaffiliated third parties for regasification capacity at the Sabine Pass LNG terminal. SPLNG is dependent on the respective customers&#8217; 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&#160;&amp; Poor&#8217;s rating of A.</font></div></div>
CY2017 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION AND NATURE OF OPERATIONS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cheniere, a Delaware corporation, is a Houston-based energy company primarily engaged in LNG-related businesses. We own and operate the Sabine Pass LNG terminal in Louisiana through our ownership interest in and management agreements with Cheniere Partners, which is a publicly traded limited partnership that we created in 2007. We own </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> of the general partner interest in Cheniere Partners and </font><font style="font-family:inherit;font-size:10pt;">82.7%</font><font style="font-family:inherit;font-size:10pt;"> of Cheniere Holdings, which is a publicly traded limited liability company formed in 2013 that owns a </font><font style="font-family:inherit;font-size:10pt;">48.6%</font><font style="font-family:inherit;font-size:10pt;"> limited partner interest in Cheniere Partners. We are currently developing and constructing </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> natural gas liquefaction and export facilities. </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Sabine Pass LNG terminal is located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast. Cheniere Partners is developing, constructing and operating natural gas liquefaction facilities </font><font style="font-family:inherit;font-size:10pt;">(the &#8220;SPL Project&#8221;)</font><font style="font-family:inherit;font-size:10pt;"> at the Sabine Pass LNG terminal adjacent to the existing regasification facilities (described below) through a wholly owned subsidiary, SPL. Cheniere Partners plans to construct up to </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> Trains, which are in various stages of development, construction and operations. Trains 1 through 4 are operational, Train 5 is under construction and Train 6 is being commercialized and has all necessary regulatory approvals in place. Each Train is expected to have a nominal production capacity, which is prior to adjusting for planned maintenance, production reliability and potential overdesign, of approximately </font><font style="font-family:inherit;font-size:10pt;">4.5</font><font style="font-family:inherit;font-size:10pt;"> mtpa and an adjusted nominal production capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">4.3</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">4.6</font><font style="font-family:inherit;font-size:10pt;"> mtpa of LNG. The Sabine Pass LNG terminal has operational regasification facilities owned by Cheniere Partners&#8217; wholly owned subsidiary, SPLNG, that include pre-existing infrastructure of </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;"> LNG storage tanks with aggregate capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">16.9</font><font style="font-family:inherit;font-size:10pt;"> Bcfe, </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> marine berths that can each accommodate vessels with nominal capacity of up to </font><font style="font-family:inherit;font-size:10pt;">266,000</font><font style="font-family:inherit;font-size:10pt;"> cubic meters and vaporizers with regasification capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">4.0</font><font style="font-family:inherit;font-size:10pt;"> Bcf/d. Cheniere Partners also owns a </font><font style="font-family:inherit;font-size:10pt;">94</font><font style="font-family:inherit;font-size:10pt;">-mile pipeline that interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines </font><font style="font-family:inherit;font-size:10pt;">(the &#8220;Creole Trail Pipeline&#8221;)</font><font style="font-family:inherit;font-size:10pt;"> through a wholly owned subsidiary, CTPL. </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are developing and constructing a second natural gas liquefaction and export facility at the Corpus Christi LNG terminal, which is on nearly </font><font style="font-family:inherit;font-size:10pt;">2,000</font><font style="font-family:inherit;font-size:10pt;"> acres of land that we own or control near Corpus Christi, Texas, and a pipeline facility </font><font style="font-family:inherit;font-size:10pt;">(collectively, the &#8220;CCL Project&#8221;)</font><font style="font-family:inherit;font-size:10pt;"> through wholly owned subsidiaries CCL and CCP, respectively. The </font><font style="font-family:inherit;font-size:10pt;">CCL Project</font><font style="font-family:inherit;font-size:10pt;"> is being developed for up to </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> Trains, with expected aggregate nominal production capacity, which is prior to adjusting for planned maintenance, production reliability and potential overdesign, of approximately </font><font style="font-family:inherit;font-size:10pt;">13.5</font><font style="font-family:inherit;font-size:10pt;"> mtpa of LNG, </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> LNG storage tanks with aggregate capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">10.1</font><font style="font-family:inherit;font-size:10pt;"> Bcfe and </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> marine berths that can each accommodate vessels with nominal capacity of up to </font><font style="font-family:inherit;font-size:10pt;">266,000</font><font style="font-family:inherit;font-size:10pt;"> cubic meters. The </font><font style="font-family:inherit;font-size:10pt;">CCL Project</font><font style="font-family:inherit;font-size:10pt;"> is being developed in stages. The first stage includes Trains 1 and </font><font style="font-family:inherit;font-size:10pt;">2</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> LNG storage tanks, </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> complete marine berth and a second partial berth and all of the </font><font style="font-family:inherit;font-size:10pt;">CCL Project</font><font style="font-family:inherit;font-size:10pt;">&#8217;s necessary infrastructure facilities </font><font style="font-family:inherit;font-size:10pt;">(&#8220;Stage 1&#8221;)</font><font style="font-family:inherit;font-size:10pt;">. The second stage includes Train 3, </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> LNG storage tank and the completion of the second partial berth </font><font style="font-family:inherit;font-size:10pt;">(&#8220;Stage 2&#8221;)</font><font style="font-family:inherit;font-size:10pt;">. The </font><font style="font-family:inherit;font-size:10pt;">CCL Project</font><font style="font-family:inherit;font-size:10pt;"> also includes a </font><font style="font-family:inherit;font-size:10pt;">23</font><font style="font-family:inherit;font-size:10pt;">-mile natural gas supply pipeline that will interconnect the Corpus Christi LNG terminal with several interstate and intrastate natural gas pipelines </font><font style="font-family:inherit;font-size:10pt;">(the &#8220;Corpus Christi Pipeline&#8221;)</font><font style="font-family:inherit;font-size:10pt;">, which is being constructed concurrently with the first stage. Trains 1 and 2 are currently under construction, and Train 3 is being commercialized and has all necessary regulatory approvals in place. The construction of the Corpus Christi Pipeline is nearing completion.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additionally, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the </font><font style="font-family:inherit;font-size:10pt;">CCL Project</font><font style="font-family:inherit;font-size:10pt;"> and recently amended our regulatory filings with FERC to incorporate a project design change, from </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> Trains with an expected aggregate nominal production capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">9.0</font><font style="font-family:inherit;font-size:10pt;"> mtpa to up to </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> midscale Trains with an expected aggregate nominal production capacity of approximately </font><font style="font-family:inherit;font-size:10pt;">9.5</font><font style="font-family:inherit;font-size:10pt;"> mtpa. We remain focused on leveraging infrastructure through the expansion of our existing sites. We are also in various stages of developing other projects, including infrastructure projects in support of natural gas supply and LNG demand, which, among other things, will require acceptable commercial and financing arrangements before we make a final investment decision </font><font style="font-family:inherit;font-size:10pt;">(&#8220;FID&#8221;)</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of Consolidated Financial Statements in conformity with </font><font style="font-family:inherit;font-size:10pt;">GAAP</font><font style="font-family:inherit;font-size:10pt;"> 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 the value of property, plant and equipment, goodwill, derivative instruments, asset retirement obligations </font><font style="font-family:inherit;font-size:10pt;">(&#8220;AROs&#8221;)</font><font style="font-family:inherit;font-size:10pt;">, income taxes including valuation allowances for deferred tax assets, share-based compensation and fair value measurements. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.</font></div></div>

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