2019 Form 10-K Financial Statement

#000000357020000043 Filed on February 25, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018 Q3
Revenue $9.730B $2.383B $1.819B
YoY Change 21.82% 36.48% 29.65%
Cost Of Revenue $5.726B $1.543B $1.027B
YoY Change 24.56% 48.08% 24.64%
Gross Profit $4.004B $840.0M $792.0M
YoY Change 18.11% 19.32% 36.79%
Gross Profit Margin 41.15% 35.25% 43.54%
Selling, General & Admin $310.0M $75.00M $74.00M
YoY Change 7.27% -2.6% 15.63%
% of Gross Profit 7.74% 8.93% 9.34%
Research & Development $9.000M $2.000M
YoY Change 28.57% -33.33%
% of Gross Profit 0.22% 0.25%
Depreciation & Amortization $794.0M $116.0M $113.0M
YoY Change 76.84% 11.54% 22.83%
% of Gross Profit 19.83% 13.81% 14.27%
Operating Expenses $7.369B $192.0M $1.394B
YoY Change 23.58% 4.35% 26.04%
Operating Profit $2.361B $516.0M $425.0M
YoY Change 16.65% 17.01% 43.1%
Interest Expense $1.432B -$417.0M $221.0M
YoY Change 63.66% 74.48% 18.82%
% of Operating Profit 60.65% -80.81% 52.0%
Other Income/Expense, Net -$1.646B $4.000M -$195.0M
YoY Change 106.52% -42.86% -6.7%
Pretax Income $715.0M $235.0M $230.0M
YoY Change -41.73% -17.25% 161.36%
Income Tax -$517.0M $12.00M $3.000M
% Of Pretax Income -72.31% 5.11% 1.3%
Net Earnings $648.0M $67.00M $65.00M
YoY Change 37.58% -47.24% -122.49%
Net Earnings / Revenue 6.66% 2.81% 3.57%
Basic Earnings Per Share $2.53 $0.26 $0.26
Diluted Earnings Per Share $2.51 $0.26 $0.26
COMMON SHARES
Basic Shares Outstanding 256.2M shares 256.9M shares 247.2M shares
Diluted Shares Outstanding 258.1M shares 250.2M shares

Balance Sheet

Concept 2019 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.474B $981.0M $989.0M
YoY Change 152.19% 35.87% 7.62%
Cash & Equivalents $2.474B $981.0M $989.0M
Short-Term Investments
Other Short-Term Assets $935.0M $114.0M $131.0M
YoY Change -60.25% 18.75% 16.96%
Inventory $312.0M $316.0M $298.0M
Prepaid Expenses
Receivables $328.0M $535.0M $229.0M
Other Receivables $163.0M $50.00M $17.00M
Total Short-Term Assets $4.212B $4.234B $3.670B
YoY Change -0.52% 25.68% 21.08%
LONG-TERM ASSETS
Property, Plant & Equipment $30.11B $27.25B $26.50B
YoY Change 10.52% 13.62% 12.93%
Goodwill $77.00M $77.00M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $108.0M $94.00M $92.00M
YoY Change 14.89% 46.88% 43.75%
Other Assets $963.0M $369.0M $295.0M
YoY Change 204.75% 28.13% -1.01%
Total Long-Term Assets $31.28B $27.75B $27.07B
YoY Change 12.71% 13.11% 12.31%
TOTAL ASSETS
Total Short-Term Assets $4.212B $4.234B $3.670B
Total Long-Term Assets $31.28B $27.75B $27.07B
Total Assets $35.49B $31.99B $30.74B
YoY Change 10.96% 14.62% 13.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.00M $58.00M $80.00M
YoY Change 13.79% 132.0% 35.59%
Accrued Expenses $1.517B $1.169B $987.0M
YoY Change 29.77% 8.44% 36.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $66.00M
YoY Change -99.58% 60.98%
Total Short-Term Liabilities $1.874B $1.742B $1.350B
YoY Change 7.58% 39.25% 33.53%
LONG-TERM LIABILITIES
Long-Term Debt $30.83B $28.18B $27.44B
YoY Change 9.19% 11.22% 10.09%
Other Long-Term Liabilities $351.0M $58.00M $76.00M
YoY Change 338.75% -3.33% 20.63%
Total Long-Term Liabilities $31.18B $28.24B $27.51B
YoY Change 10.13% 11.19% 10.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.874B $1.742B $1.350B
Total Long-Term Liabilities $31.18B $28.24B $27.51B
Total Liabilities $35.51B $29.98B $28.86B
YoY Change 9.21% 12.5% 11.03%
SHAREHOLDERS EQUITY
Retained Earnings -$4.156B -$4.223B
YoY Change -10.18% -11.17%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $406.0M $396.0M
YoY Change 5.18% 4.76%
Treasury Stock Shares 12.80M shares 12.60M shares
Shareholders Equity -$14.00M -$526.0M -$609.0M
YoY Change
Total Liabilities & Shareholders Equity $35.49B $31.99B $30.74B
YoY Change 10.96% 14.62% 13.29%

Cashflow Statement

Concept 2019 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $648.0M $67.00M $65.00M
YoY Change 37.58% -47.24% -122.49%
Depreciation, Depletion And Amortization $794.0M $116.0M $113.0M
YoY Change 76.84% 11.54% 22.83%
Cash From Operating Activities $1.833B $486.0M $522.0M
YoY Change -7.89% 44.64% 45.4%
INVESTING ACTIVITIES
Capital Expenditures $3.056B -$931.0M -$1.204B
YoY Change -16.11% 105.07% 113.1%
Acquisitions
YoY Change
Other Investing Activities $2.000M -$1.000M -$26.00M
YoY Change -114.29% 0.0% 550.0%
Cash From Investing Activities -$3.163B -$932.0M -$1.230B
YoY Change -13.44% 104.84% 116.17%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $249.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.168B 670.0M 369.0M
YoY Change -47.08% 326.75% 53.11%
NET CHANGE
Cash From Operating Activities $1.833B 486.0M 522.0M
Cash From Investing Activities -$3.163B -932.0M -1.230B
Cash From Financing Activities $1.168B 670.0M 369.0M
Net Change In Cash -$162.0M 224.0M -339.0M
YoY Change -129.83% 489.47% -1193.55%
FREE CASH FLOW
Cash From Operating Activities $1.833B $486.0M $522.0M
Capital Expenditures $3.056B -$931.0M -$1.204B
Free Cash Flow -$1.223B $1.417B $1.726B
YoY Change -26.01% 79.37% 86.8%

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543000000 USD
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CY2019 us-gaap Nature Of Operations
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ORGANIZATION AND NATURE OF OPERATIONS<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cheniere, a Delaware corporation, is a Houston-based energy infrastructure company primarily engaged in LNG-related businesses. We are operating and constructing </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> natural gas liquefaction and export facilities at Sabine Pass and Corpus Christi. </span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span 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, through its subsidiary SPL, is currently operating </span><span style="font-family:inherit;font-size:10pt;"><span>five</span></span><span style="font-family:inherit;font-size:10pt;"> natural gas liquefaction Trains and is constructing </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> additional Train for a </span><span style="font-family:inherit;font-size:10pt;">total production capacity</span><span style="font-family:inherit;font-size:10pt;"> of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>30</span></span><span style="font-family:inherit;font-size:10pt;"> mtpa of LNG </span><span style="font-family:inherit;font-size:10pt;">(the “SPL Project”)</span><span style="font-family:inherit;font-size:10pt;"> at the Sabine Pass LNG terminal. The Sabine Pass LNG terminal has operational regasification facilities owned by Cheniere Partners’ subsidiary, SPLNG, that include pre-existing infrastructure of </span><span style="font-family:inherit;font-size:10pt;"><span>five</span></span><span style="font-family:inherit;font-size:10pt;"> LNG storage tanks, </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> marine berths and vaporizers. Cheniere Partners also owns a </span><span style="font-family:inherit;font-size:10pt;"><span>94</span></span><span style="font-family:inherit;font-size:10pt;">-mile pipeline that interconnects the Sabine Pass LNG terminal with a number of large interstate pipelines </span><span style="font-family:inherit;font-size:10pt;">(the “Creole Trail Pipeline”)</span><span style="font-family:inherit;font-size:10pt;"> through its subsidiary, CTPL. As of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, we owned </span><span style="font-family:inherit;font-size:10pt;"><span>100%</span></span><span style="font-family:inherit;font-size:10pt;"> of the general partner interest and </span><span style="font-family:inherit;font-size:10pt;"><span>48.6%</span></span><span style="font-family:inherit;font-size:10pt;"> of the limited partner interest in Cheniere Partners. </span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Corpus Christi LNG terminal is located near Corpus Christi, Texas and is operated and constructed by our subsidiary, CCL. We are currently operating </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> Trains and are constructing </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> additional Train for a </span><span style="font-family:inherit;font-size:10pt;">total production capacity</span><span style="font-family:inherit;font-size:10pt;"> of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>15</span></span><span style="font-family:inherit;font-size:10pt;"> mtpa of LNG. We also operate a </span><span style="font-family:inherit;font-size:10pt;"><span>23</span></span><span style="font-family:inherit;font-size:10pt;">-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with several interstate and intrastate natural gas pipelines </span><span style="font-family:inherit;font-size:10pt;">(the “Corpus Christi Pipeline” and together with the Trains, the “CCL Project”)</span><span style="font-family:inherit;font-size:10pt;"> through our subsidiary, CCP. The </span><span style="font-family:inherit;font-size:10pt;">CCL Project</span><span style="font-family:inherit;font-size:10pt;">, once fully constructed, will contain </span><span style="font-family:inherit;font-size:10pt;"><span>three</span></span><span style="font-family:inherit;font-size:10pt;"> LNG storage tanks and </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> marine berths.</span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, separate from the CCH Group, we are developing an expansion of the Corpus Christi LNG terminal adjacent to the </span><span style="font-family:inherit;font-size:10pt;">CCL Project</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">(“Corpus Christi Stage 3”)</span><span style="font-family:inherit;font-size:10pt;"> through our subsidiary </span><span style="font-family:inherit;font-size:10pt;">CCL Stage III</span><span style="font-family:inherit;font-size:10pt;">, for up to </span><span style="font-family:inherit;font-size:10pt;"><span>seven</span></span><span style="font-family:inherit;font-size:10pt;"> midscale Trains with an expected </span><span style="font-family:inherit;font-size:10pt;">total production capacity</span><span style="font-family:inherit;font-size:10pt;"> of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>10</span></span><span style="font-family:inherit;font-size:10pt;"> mtpa of LNG. We received approval from </span><span style="font-family:inherit;font-size:10pt;">FERC</span><span style="font-family:inherit;font-size:10pt;"> in November 2019 to site, construct and operate the expansion project.</span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We remain focused on operational excellence and customer satisfaction. Increasing demand of LNG has allowed us to expand our liquefaction infrastructure in a financially disciplined manner. We hold significant land positions at both the Sabine Pass LNG terminal and the Corpus Christi LNG terminal which provide opportunity for further liquefaction capacity expansion. The development of these sites or other projects, including infrastructure projects in support of natural gas supply and LNG demand, will require, among other things, acceptable commercial and financing arrangements before we make a </span><span style="font-family:inherit;font-size:10pt;">final investment decision</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">(“FID”)</span><span style="font-family:inherit;font-size:10pt;">.</span></div>
CY2019 lng Number Of Natural Gas Liquefaction And Export Facilities
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2 unit
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of Consolidated Financial Statements in conformity with </span><span style="font-family:inherit;font-size:10pt;">GAAP</span><span 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 fair value measurements, revenue recognition, property, plant and equipment, derivative instruments, leases, goodwill, asset retirement obligations </span><span style="font-family:inherit;font-size:10pt;">(“AROs”)</span><span style="font-family:inherit;font-size:10pt;">, share-based compensation and income taxes including valuation allowances for deferred tax assets, 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
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
30000000 USD
CY2019Q4 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
0 USD
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span 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, 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="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span 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 within other current assets. 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’ 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="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">SPL has entered into fixed price long-term SPAs generally with terms of </span><span style="font-family:inherit;font-size:10pt;"><span>20 years</span></span><span style="font-family:inherit;font-size:10pt;"> with </span><span style="font-family:inherit;font-size:10pt;"><span>eight</span></span><span style="font-family:inherit;font-size:10pt;"> third parties, CCL has entered into fixed price long-term SPAs generally with terms of </span><span style="font-family:inherit;font-size:10pt;"><span>20 years</span></span><span style="font-family:inherit;font-size:10pt;"> with </span><span style="font-family:inherit;font-size:10pt;"><span>nine</span></span><span style="font-family:inherit;font-size:10pt;"> third parties and our integrated marketing function has entered into a limited number of long-term SPAs with third parties. We are dependent on the respective customers’ creditworthiness and their willingness to perform under their respective SPAs. See </span><a href="#sE781E6393FFBA8A10E0C5C7591A0A159" style="font-family:inherit;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Note 20—Customer Concentration</span></a><span style="font-family:inherit;font-size:10pt;"> for additional details about our customer concentration.</span></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">SPLNG has entered into </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> 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. </span></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div>
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
520000000 USD
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2175000000 USD
CY2019Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
50000000 USD
CY2018Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
50000000 USD
CY2019Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
491000000 USD
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
585000000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
312000000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
316000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
29673000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27245000000 USD
CY2019 us-gaap Depreciation
Depreciation
788000000 USD
CY2018 us-gaap Depreciation
Depreciation
445000000 USD
CY2017 us-gaap Depreciation
Depreciation
354000000 USD
CY2019 lng Property Plant And Equipment Reduction For Testing Costs Recovered
PropertyPlantAndEquipmentReductionForTestingCostsRecovered
301000000 USD
CY2018 lng Property Plant And Equipment Reduction For Testing Costs Recovered
PropertyPlantAndEquipmentReductionForTestingCostsRecovered
140000000 USD
CY2017 lng Property Plant And Equipment Reduction For Testing Costs Recovered
PropertyPlantAndEquipmentReductionForTestingCostsRecovered
320000000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
USD
CY2019Q4 lng Advances Made To Municipalities
AdvancesMadeToMunicipalities
87000000 USD
CY2018Q4 lng Advances Made To Municipalities
AdvancesMadeToMunicipalities
90000000 USD
CY2019Q4 lng Advances And Other Asset Conveyances To Third Parties
AdvancesAndOtherAssetConveyancesToThirdParties
55000000 USD
CY2018Q4 lng Advances And Other Asset Conveyances To Third Parties
AdvancesAndOtherAssetConveyancesToThirdParties
54000000 USD
CY2019Q4 lng Advances Made Under Long Term Contracts
AdvancesMadeUnderLongTermContracts
29000000 USD
CY2018Q4 lng Advances Made Under Long Term Contracts
AdvancesMadeUnderLongTermContracts
14000000 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
108000000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
94000000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
45000000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
72000000 USD
CY2019Q4 lng Tax Related Payments And Receivables
TaxRelatedPaymentsAndReceivables
20000000 USD
CY2018Q4 lng Tax Related Payments And Receivables
TaxRelatedPaymentsAndReceivables
21000000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
44000000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
24000000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
388000000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
369000000 USD
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
87000000 USD
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
293000000 USD
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
233000000 USD
CY2019Q4 lng Accrued Natural Gas Purchases
AccruedNaturalGasPurchases
460000000 USD
CY2018Q4 lng Accrued Natural Gas Purchases
AccruedNaturalGasPurchases
610000000 USD
CY2019Q4 lng Accrued Ln Gterminalcosts
AccruedLNGterminalcosts
327000000 USD
CY2018Q4 lng Accrued Ln Gterminalcosts
AccruedLNGterminalcosts
125000000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
115000000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
117000000 USD
CY2019Q4 lng Accrued Lng Inventory
AccruedLNGInventory
6000000 USD
CY2018Q4 lng Accrued Lng Inventory
AccruedLNGInventory
14000000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
80000000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
70000000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1281000000 USD
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1169000000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
692000000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
775000000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
30774000000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
28179000000 USD
CY2019Q4 us-gaap Debt Current
DebtCurrent
0 USD
CY2018Q4 us-gaap Debt Current
DebtCurrent
239000000 USD
CY2019Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
30774000000 USD
CY2018Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
28418000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3413000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1119000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1633000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
6146000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
19155000000 USD
CY2019Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
31466000000 USD
CY2019 us-gaap Interest Costs Incurred
InterestCostsIncurred
1846000000 USD
CY2018 us-gaap Interest Costs Incurred
InterestCostsIncurred
1678000000 USD
CY2017 us-gaap Interest Costs Incurred
InterestCostsIncurred
1526000000 USD
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
414000000 USD
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
803000000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
779000000 USD
CY2019 us-gaap Interest Expense
InterestExpense
1432000000 USD
CY2018 us-gaap Interest Expense
InterestExpense
875000000 USD
CY2017 us-gaap Interest Expense
InterestExpense
747000000 USD
CY2019Q4 lng Lease Rightof Use Asset
LeaseRightofUseAsset
495000000 USD
CY2019Q4 lng Lease Liability
LeaseLiability
484000000 USD
CY2019 us-gaap Lease Cost
LeaseCost
625000000 USD
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
230000000 USD
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
7000000 USD
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
335000000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
199000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
250000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
11000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
56000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
10000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
22000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
10000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
21000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
10000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
21000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
10000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
160000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
136000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
530000000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
187000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
105000000 USD
CY2019Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
128000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
425000000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
59000000 USD
CY2019Q4 lng Operating Lease Leasenotyet Commenced Expense
OperatingLeaseLeasenotyetCommencedExpense
2000000000.0 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
380000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
5000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
184000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
5000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
238000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
5000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
264000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
5000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
264000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
5000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
999000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
73000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2329000000 USD
CY2018Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
98000000 USD
CY2018Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
0 USD
CY2018Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
39000000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2329000000 USD
CY2018Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
59000000 USD
CY2018Q4 lng Operating Leases Paymentsfor Shortterm Leases
OperatingLeasesPaymentsforShorttermLeases
79000000 USD
CY2018Q4 lng Operating Lease Leasenotyet Commenced Expense
OperatingLeaseLeasenotyetCommencedExpense
1600000000 USD
CY2018Q4 lng Lease Liability Payments Non Lease Component
LeaseLiabilityPaymentsNonLeaseComponent
98000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
43000000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M24D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y8M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.162
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
389000000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9000000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
235000000 USD
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
9000000 USD
CY2019 us-gaap Lease Income
LeaseIncome
144000000 USD
CY2019 us-gaap Variable Lease Income
VariableLeaseIncome
22000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9157000000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7896000000 USD
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5645000000 USD
CY2019 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
429000000 USD
CY2018 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-9000000 USD
CY2017 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
-44000000 USD
CY2019 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
144000000 USD
CY2018 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
100000000 USD
CY2017 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
0 USD
CY2019 us-gaap Revenues
Revenues
9730000000 USD
CY2018 us-gaap Revenues
Revenues
7987000000 USD
CY2017 us-gaap Revenues
Revenues
5601000000 USD
CY2019 lng Lng Volume Purchase Price Percentageof Henry Hub
LNGVolumePurchasePricePercentageofHenryHub
1.15
CY2019 lng Regasification Capacity
RegasificationCapacity
4
CY2019Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
18000000 USD
CY2018Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
0 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
139000000 USD
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
111000000 USD
CY2019 lng Contractwith Customer Liability Additions
ContractwithCustomerLiabilityAdditions
161000000 USD
CY2018 lng Contractwith Customer Liability Additions
ContractwithCustomerLiabilityAdditions
139000000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
139000000 USD
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-111000000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
161000000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
139000000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
4000000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
30000000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
108800000000 USD
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
109200000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
289000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
997000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
30000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
426000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
230000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
536000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
715000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1227000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
566000000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
6000000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4000000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
32000000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6000000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-475000000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-46000000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-5000000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-3000000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-521000000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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