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Non-Controlling Interests

6 Months Ended

Jun. 30, 2026

Noncontrolling Interest [Abstract]

Non-Controlling Interests

Non-Controlling Interests

VGLNG Series A Preferred Shares

The VGLNG Series A Preferred shares accumulate dividends at an annual rate of 9.000%, or $90.00 a year per preferred share, and are payable semiannually if declared by the VGLNG board of directors. The following table summarizes accumulated but undeclared dividends on the VGLNG Series A Preferred Shares:

			Three months ended June 30,
			2026						2025
Beginning balance as of April 1			$	1					$	1
Dividends accumulated			67						67
Ending balance as of June 30			$	68					$	68
			Six months ended June 30,
			2026						2025
Beginning balance as of January 1			$	68					$	68
Dividends accumulated			135						135
Dividends declared and paid			(135)						(135)
Ending balance as of June 30			$	68					$	68

Calcasieu Holdings

In August 2019, Calcasieu Pass Holdings, LLC ("Calcasieu Holdings"), a controlled indirect subsidiary of the Company, issued 4 million convertible preferred units (the "CP Holdings Convertible Preferred Units"), which represent third-party ownership in the net assets of Calcasieu Holdings.

Upon COD of the Calcasieu Project in April 2025, the CP Holdings Convertible Preferred Units converted into Class B common units of Calcasieu Holdings. This conversion was equal to approximately 23% of the total outstanding common units of Calcasieu Holdings, reducing the Company's common equity interest in the Calcasieu Project to approximately 77%.

Prior to COD, the CP Holdings Convertible Preferred Units paid a cumulative quarterly distribution recognized as net income attributable to non-controlling interests. Subsequent to COD, the Class B common units of Calcasieu Holdings are adjusted by the amount of earnings or other comprehensive income attributable to the Class B common unit ownership.

The following table summarizes the changes in the third-party ownership in the net assets of Calcasieu Holdings:

			Three months ended June 30,
			2026						2025
Beginning balance as of April 1			$	586					$	575
Net income (loss) attributable to non-controlling interests			(2)						1
Other comprehensive loss			—						(1)
Distributions			(41)						(3)
Ending balance as of June 30			$	543					$	572
			Six months ended June 30,
			2026						2025
Beginning balance as of January 1			$	593					$	575
Net income attributable to non-controlling interests			25						16
Other comprehensive loss			—						(1)
Distributions			(75)						(18)
Ending balance as of June 30			$	543					$	572

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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

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- References

No definition available.

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