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Property, Plant and Equipment, Net of Accumulated Depreciation | 3 Months Ended
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Mar. 31, 2026
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment, Net of Accumulated Depreciation | PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
|  |  | March 31, |  | December 31,
|  |  | 2026 |  | 2025
Terminal and related assets |  |  |  |  |
Terminal and interconnecting pipeline facilities |  |  | $ | 39,359 |  |  | $ | 38,422 |
Land |  |  | 825 |  |  | 745 |
Construction-in-process |  |  | 3,891 |  |  | 4,096 |
Accumulated depreciation |  |  | (8,763) |  |  | (8,434) |
Total terminal and related assets, net of accumulated depreciation |  |  | 35,312 |  |  | 34,829 |
Fixed assets and other assets |  |  |  |  |
Fixed assets and other assets |  |  | 263 |  |  | 260 |
Accumulated depreciation |  |  | (199) |  |  | (195) |
Total fixed assets and other assets, net of accumulated depreciation |  |  | 64 |  |  | 65 |
Assets under finance leases |  |  |  |  |
Marine assets |  |  | 1,604 |  |  | 1,060 |
Accumulated depreciation |  |  | (236) |  |  | (199) |
Total assets under finance leases, net of accumulated depreciation |  |  | 1,368 |  |  | 861 |
Property, plant and equipment, net of accumulated depreciation |  |  | $ | 36,744 |  |  | $ | 35,755 |
The following table shows depreciation expense and offsets to terminal assets (in millions):
|  | Three Months Ended March 31, |  |
|  | 2026 |  | 2025 |  |  |  |  |  |
Depreciation expense |  | $ | 371 |  |  | $ | 310 |  |  |  |  |  |  |
Sales proceeds earned from commissioning sales of LNG offset to terminal assets (1) |  | 47 |  |  | 48 |  |  |  |  |  |  |
(1)We realize offsets to terminal assets for sales proceeds from commissioning volumes that were earned or loaded prior to the start of commercial operations of the respective Train during the testing phase for its construction.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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