Revenues from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

The following table represents a disaggregation of revenue earned from contracts with customers during the years ended December 31, 2020, 2019 and 2018 (in millions):


	Year Ended December 31,
		2020		2019		2018
LNG revenues (1)		$	8,954	$	8,817	$	7,581
Regasification revenues		269		266		261
Other revenues		70		74		54

Total revenues from customers		9,293		9,157		7,896
Net derivative gain (loss) (2)		(30)		429		(9)
Other (3)		95		144		100
Total revenues		$	9,358	$	9,730	$	7,987

(1) LNG revenues include revenues for LNG cargoes in which our customers exercised their contractual right to not take delivery but remained obligated to pay fixed fees irrespective of such election. During the year ended December 31, 2020, we recognized $969 million in LNG revenues associated with LNG cargoes for which customers notified us that they would not take delivery, of which $38 million would have been recognized subsequent to December 31, 2020, if the cargoes were lifted pursuant to the delivery schedules with the customers. Revenue is generally recognized upon receipt of irrevocable notice that a customer will not take delivery because our customers have no contractual right to take delivery of such LNG cargo in future periods and our performance obligations with respect to such LNG cargo have been satisfied.

(2) See Note 7 —Derivative Instruments for additional information about our derivatives.

(3) Includes revenues from LNG vessel subcharters. See Note 1 2 —Leases for additional information about our subleases.

Contract Assets

The following table shows our contract assets, net, which are classified as other non-current assets, net on our Consolidated Balance Sheets (in millions):


	December 31,

	2020		2019
Contract assets, net	$	80	$	18

Contract Liabilities

The following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions):



	Year Ended December 31, 2020
Deferred revenues, beginning of period	$	161
Cash received but not yet recognized	138
Revenue recognized from prior period deferral	(161)
Deferred revenues, end of period	$	138

Transaction Price Allocated to Future Performance Obligations

The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied as of December 31, 2020 and 2019:


	December 31, 2020			December 31, 2019
	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)
LNG revenues	$	102.3	10	$	106.4	11
Regasification revenues	2.1		5	2.4		5
Total revenues	$	104.4		$	108.8

(1) The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.