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Non-Controlling Interest and Variable Interest Entity | 9 Months Ended
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Sep. 30, 2024
Noncontrolling Interest and Variable Interest Entity [Abstract] |
Non-Controlling Interest and Variable Interest Entity | NON-CONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES When we consolidate our VIEs, we include 100% of the assets, liabilities, revenues and expenses of the VIE in our Consolidated Financial Statements; however, when our ownership is less than 100%, we record a non-controlling interest as a component of equity or redeemable non-controlling interest on our Consolidated Balance Sheets, which represents the third party ownership in the net assets of the respective consolidated subsidiary. Additionally, the portion of the net income or loss attributable to the non-controlling interests is reported as net income attributable to non-controlling interest on our Consolidated Statements of Operations. Substantially all of our consolidated VIEs’ assets and liabilities relate to CQP. We own a 48.6% limited partner interest in CQP, and we also own all of the 2% general partner interest and 100% of the incentive distribution rights in CQP. The remaining 49.4% non-controlling limited partner interest in CQP is held by affiliates of Blackstone Inc. and Brookfield Asset Management, Inc. (“Brookfield”) as well as the public. The following table presents the summarized consolidated assets and liabilities (in millions) of our consolidated VIEs, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of the respective VIEs. In addition, there is no recourse to us for the consolidated VIEs’ liabilities. The assets and liabilities in the table below include third party assets and liabilities of the VIEs only and exclude intercompany balances between the respective VIEs and Cheniere that eliminate in our Consolidated Financial Statements.
|  | September 30, |  | December 31,
|  | 2024 |  | 2023
ASSETS |  |  |  |
Current assets |  |  |  |
Cash and cash equivalents |  | $ | 331 |  |  | $ | 575 |
Restricted cash and cash equivalents |  | 103 |  |  | 56 |
Trade and other receivables, net of current expected credit losses |  | 240 |  |  | 373 |
Inventory |  | 138 |  |  | 142 |
Current derivative assets |  | 50 |  |  | 30 |
Margin deposits |  | 12 |  |  | — |
Other current assets, net |  | 58 |  |  | 43 |
Total current assets |  | 932 |  |  | 1,219 |
Property, plant and equipment, net of accumulated depreciation |  | 15,971 |  |  | 16,212 |
Operating lease assets |  | 80 |  |  | 81 |
Derivative assets |  | 64 |  |  | 40 |
Other non-current assets, net |  | 188 |  |  | 188 |
Total assets |  | $ | 17,235 |  |  | $ | 17,740 |
LIABILITIES |  |  |  |
Current liabilities |  |  |  |
Accounts payable |  | $ | 52 |  |  | $ | 69 |
Accrued liabilities |  | 577 |  |  | 811 |
Current debt, net of unamortized discount and debt issuance costs |  | 700 |  |  | 300 |
Deferred revenue |  | 136 |  |  | 114 |
Current operating lease liabilities |  | 3 |  |  | 10 |
Current derivative liabilities |  | 222 |  |  | 196 |
Other current liabilities |  | 5 |  |  | 8 |
Total current liabilities |  | 1,695 |  |  | 1,508 |
Long-term debt, net of unamortized discount and debt issuance costs |  | 14,756 |  |  | 15,606 |
Operating lease liabilities |  | 77 |  |  | 71 |
Finance lease liabilities |  | 69 |  |  | 14 |
Derivative liabilities |  | 1,256 |  |  | 1,531 |
Other non-current liabilities |  | 101 |  |  | 75 |
Total liabilities |  | $ | 17,954 |  |  | $ | 18,805 |

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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