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v3.26.1

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Information | Segment Information The following tables present financial information by segment, including significant segment expenses regularly provided to the chief operating decision maker, and a reconciliation of segment income (loss) from operations to income before income tax expense on the condensed consolidated statements of operations for the periods indicated.
| Three months ended June 30, 2026
| Calcasieu Project |  | Plaquemines Project |  | CP2 Project |  | Sales and shipping |  | Corporate, other and eliminations |  | Total
Revenue | $ | 717 |  |  | $ | 3,766 |  |  | $ | — |  |  | $ | 1,843 |  |  | $ | (1,748) |  |  | $ | 4,578 |
Operating expense |  |  |  |  |  |  |  |  |  |  |
Cost of sales | 509 |  |  | 1,220 |  |  | — |  |  | 1,520 |  |  | (1,589) |  |  | 1,660 |
Operating and maintenance expense | 91 |  |  | 139 |  |  | 32 |  |  | 91 |  |  | (18) |  |  | 335 |
General and administrative expense | 4 |  |  | 19 |  |  | 24 |  |  | 2 |  |  | 63 |  |  | 112 |
Development expense | — |  |  | 8 |  |  | (1) |  |  | — |  |  | 16 |  |  | 23 |
Depreciation and amortization | 46 |  |  | 168 |  |  | — |  |  | 19 |  |  | 27 |  |  | 260 |
Total operating expense | 650 |  |  | 1,554 |  |  | 55 |  |  | 1,632 |  |  | (1,501) |  |  | 2,390 |
Income (loss) from operations | $ | 67 |  |  | $ | 2,212 |  |  | $ | (55) |  |  | $ | 211 |  |  | $ | (247) |  |  | $ | 2,188 |
Interest income |  |  |  |  |  |  |  |  |  |  | 26 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (489) |
Gain on interest rate swaps |  |  |  |  |  |  |  |  |  |  | 124 |
Loss on financing transactions |  |  |  |  |  |  |  |  |  |  | (96) |
Income before income tax expense |  |  |  |  |  |  |  |  |  |  | $ | 1,753 |
| Three months ended June 30, 2025
| Calcasieu Project |  | Plaquemines Project |  | CP2 Project |  | Sales and shipping |  | Corporate, other and eliminations |  | Total
Revenue | $ | 935 |  |  | $ | 2,095 |  |  | $ | — |  |  | $ | 488 |  |  | $ | (417) |  |  | $ | 3,101 |
Operating expense |  |  |  |  |  |  |  |  |  |  |
Cost of sales | 596 |  |  | 882 |  |  | — |  |  | 369 |  |  | (428) |  |  | 1,419 |
Operating and maintenance expense | 87 |  |  | 91 |  |  | (1) |  |  | 47 |  |  | (7) |  |  | 217 |
General and administrative expense | 4 |  |  | 15 |  |  | 7 |  |  | — |  |  | 77 |  |  | 103 |
Development expense | — |  |  | 9 |  |  | 22 |  |  | — |  |  | 26 |  |  | 57 |
Depreciation and amortization | 65 |  |  | 177 |  |  | — |  |  | 8 |  |  | 17 |  |  | 267 |
Total operating expense | 752 |  |  | 1,174 |  |  | 28 |  |  | 424 |  |  | (315) |  |  | 2,063 |
Income (loss) from operations | $ | 183 |  |  | $ | 921 |  |  | $ | (28) |  |  | $ | 64 |  |  | $ | (102) |  |  | $ | 1,038 |
Interest income |  |  |  |  |  |  |  |  |  |  | 38 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (310) |
Loss on interest rate swaps |  |  |  |  |  |  |  |  |  |  | (112) |
Loss on financing transactions |  |  |  |  |  |  |  |  |  |  | (63) |
Income before income tax expense |  |  |  |  |  |  |  |  |  |  | $ | 591 |
| Six months ended June 30, 2026
| Calcasieu Project |  | Plaquemines Project |  | CP2 Project |  | Sales and shipping |  | Corporate, other and eliminations |  | Total
Revenue | $ | 1,802 |  |  | $ | 7,159 |  |  | $ | — |  |  | $ | 2,661 |  |  | $ | (2,445) |  |  | $ | 9,177 |
Operating expense |  |  |  |  |  |  |  |  |  |  |
Cost of sales | 1,288 |  |  | 3,264 |  |  | — |  |  | 2,148 |  |  | (2,256) |  |  | 4,444 |
Operating and maintenance expense | 166 |  |  | 244 |  |  | 54 |  |  | 163 |  |  | (22) |  |  | 605 |
General and administrative expense | 8 |  |  | 36 |  |  | 40 |  |  | 3 |  |  | 122 |  |  | 209 |
Development expense | — |  |  | 26 |  |  | 11 |  |  | — |  |  | 32 |  |  | 69 |
Depreciation and amortization | 91 |  |  | 336 |  |  | — |  |  | 37 |  |  | 47 |  |  | 511 |
Total operating expense | 1,553 |  |  | 3,906 |  |  | 105 |  |  | 2,351 |  |  | (2,077) |  |  | 5,838 |
Income (loss) from operations | $ | 249 |  |  | $ | 3,253 |  |  | $ | (105) |  |  | $ | 310 |  |  | $ | (368) |  |  | $ | 3,339 |
Interest income |  |  |  |  |  |  |  |  |  |  | 54 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (933) |
Gain on interest rate swaps |  |  |  |  |  |  |  |  |  |  | 139 |
Loss on financing transactions |  |  |  |  |  |  |  |  |  |  | (109) |
Loss on foreign currency transactions |  |  |  |  |  |  |  |  |  |  | (1) |
Income before income tax expense |  |  |  |  |  |  |  |  |  |  | $ | 2,489 |
| Six months ended June 30, 2025
| Calcasieu Project |  | Plaquemines Project |  | CP2 Project |  | Sales and shipping |  | Corporate, other and eliminations |  | Total
Revenue | $ | 2,573 |  |  | $ | 3,281 |  |  | $ | 1 |  |  | $ | 969 |  |  | $ | (829) |  |  | $ | 5,995 |
Operating expense |  |  |  |  |  |  |  |  |  |  |
Cost of sales | 1,132 |  |  | 1,422 |  |  | — |  |  | 761 |  |  | (837) |  |  | 2,478 |
Operating and maintenance expense | 218 |  |  | 165 |  |  | — |  |  | 96 |  |  | (10) |  |  | 469 |
General and administrative expense | 8 |  |  | 31 |  |  | 21 |  |  | 2 |  |  | 146 |  |  | 208 |
Development expense | — |  |  | 19 |  |  | 171 |  |  | — |  |  | 49 |  |  | 239 |
Depreciation and amortization | 130 |  |  | 308 |  |  | — |  |  | 14 |  |  | 31 |  |  | 483 |
Total operating expense | 1,488 |  |  | 1,945 |  |  | 192 |  |  | 873 |  |  | (621) |  |  | 3,877 |
Income (loss) from operations | $ | 1,085 |  |  | $ | 1,336 |  |  | $ | (191) |  |  | $ | 96 |  |  | $ | (208) |  |  | $ | 2,118 |
Interest income |  |  |  |  |  |  |  |  |  |  | 94 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | (586) |
Loss on interest rate swaps |  |  |  |  |  |  |  |  |  |  | (304) |
Loss on financing transactions |  |  |  |  |  |  |  |  |  |  | (63) |
Income before income tax expense |  |  |  |  |  |  |  |  |  |  | $ | 1,259 |
The following table presents the capital expenditures and total assets by segment for the periods indicated:
| Capital expenditures(a) |  | Total assets
| Six months ended June 30, |  |  |  | June 30, 2026 |  | December 31, 2025
| 2026 |  | 2025 |  |  |  |
Calcasieu Project | $ | 19 |  |  | $ | 53 |  |  |  |  | $ | 6,882 |  |  | $ | 6,955 |
Plaquemines Project | 604 |  |  | 3,648 |  |  |  |  | 26,658 |  |  | 26,256 |
CP2 Project | 5,618 |  |  | 1,437 |  |  |  |  | 17,637 |  |  | 10,857 |
Sales and shipping | 180 |  |  | 249 |  |  |  |  | 3,182 |  |  | 2,485 |
Corporate, other and eliminations | 514 |  |  | 1,108 |  |  |  |  | 7,156 |  |  | 6,893 |
Total | $ | 6,935 |  |  | $ | 6,495 |  |  |  |  | $ | 61,515 |  |  | $ | 53,446 |
____________ (a) Includes financed capital expenditures.

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