XML 34 R15.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Non-Controlling Interest and Variable Interest Entities | 12 Months Ended
--- | ---
Dec. 31, 2024
Noncontrolling Interest and Variable Interest Entity [Abstract] |
Non-Controlling Interest and Variable Interest Entities | NON-CONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES 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. CQP is a limited partnership formed by us in 2006 to own and operate the Sabine Pass LNG Terminal and related assets. Our wholly-owned subsidiary, Cheniere Partners GP, is the general partner of CQP. In 2012, CQP, Cheniere and Blackstone CQP Holdco LP (which was subsequently renamed to CQP Holdco LP, or “CQP Holdco”) entered into a unit purchase agreement whereby CQP sold 100.0 million Class B units to CQP Holdco in a private placement. The board of directors of Cheniere Partners GP was modified to include three directors appointed by CQP Holdco, four directors appointed by us and four independent directors mutually agreed upon by CQP Holdco and us and appointed by us. In addition, we provided CQP Holdco with a right to maintain one board seat on our Board of Directors (our “Board”). A quorum of Cheniere Partners GP directors consists of a majority of all directors, including at least two directors appointed by CQP Holdco, two directors appointed by us and two independent directors. CQP Holdco will no longer be entitled to appoint Cheniere Partners GP directors in the event that CQP Holdco’s ownership in CQP is less than 20% of outstanding common units and subordinated units. As a holder of common units of CQP, we are not obligated to fund losses of CQP. However, our capital account, which would be considered in allocating the net assets of CQP were it to be liquidated, continues to share in losses of CQP. We have determined that Cheniere Partners GP is a VIE and that we, as the holder of the equity at risk, do not have a controlling financial interest due to the rights held by CQP Holdco. However, we continue to consolidate CQP as a result of CQP Holdco’s right to maintain one board seat on our Board which creates a de facto agency relationship between CQP Holdco and us. GAAP requires that when a de facto agency relationship exists, one of the members of the de facto agency relationship must consolidate the VIE based on certain criteria. As a result, we consolidate CQP in our Consolidated Financial Statements. 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 exclude intercompany balances between the respective VIEs and Cheniere that eliminate in our Consolidated Financial Statements.
|  | December 31,
|  | 2024 |  | 2023
ASSETS |  |  |  |
Current assets |  |  |  |
Cash and cash equivalents |  | $ | 270 |  |  | $ | 575 |
Restricted cash and cash equivalents |  | 125 |  |  | 56 |
Trade and other receivables, net of current expected credit losses |  | 381 |  |  | 373 |
Inventory |  | 154 |  |  | 142 |
Current derivative assets |  | 84 |  |  | 30 |
Margin deposits |  | 13 |  |  | — |
Other current assets, net |  | 54 |  |  | 43 |
Total current assets |  | 1,081 |  |  | 1,219 |
Property, plant and equipment, net of accumulated depreciation |  | 15,880 |  |  | 16,212 |
Operating lease assets |  | 80 |  |  | 81 |
Derivative assets |  | 98 |  |  | 40 |
Other non-current assets, net |  | 206 |  |  | 188 |
Total assets |  | $ | 17,345 |  |  | $ | 17,740 |
LIABILITIES |  |  |  |
Current liabilities |  |  |  |
Accounts payable |  | $ | 70 |  |  | $ | 69 |
Accrued liabilities |  | 881 |  |  | 811 |
Current debt, net of unamortized discount and debt issuance costs |  | 351 |  |  | 300 |
Deferred revenue |  | 120 |  |  | 114 |
Current operating lease liabilities |  | 4 |  |  | 10 |
Current derivative liabilities |  | 250 |  |  | 196 |
Other current liabilities |  | 16 |  |  | 8 |
Total current liabilities |  | 1,692 |  |  | 1,508 |
Long-term debt, net of unamortized discount and debt issuance costs |  | 14,761 |  |  | 15,606 |
Operating lease liabilities |  | 76 |  |  | 71 |
Derivative liabilities |  | 1,213 |  |  | 1,531 |
Other non-current liabilities |  | 176 |  |  | 89 |
Total liabilities |  | $ | 17,918 |  |  | $ | 18,805 |

X
- Definition Noncontrolling Interest and Variable Interest Entity [Abstract] + References No definition available. + Details
Name: | lng_NoncontrollingInterestandVariableInterestEntityAbstract
Namespace Prefix: | lng_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_MinorityInterestDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration