Non-Controlling Interest and Variable Interest Entity

3 Months Ended

Mar. 31, 2021

Noncontrolling Interest and Variable Interest Entity [Abstract]

Non-Controlling Interest and Variable Interest Entity

NON-CONTROLLING INTEREST AND VARIABLE INTEREST ENTITY

We own a 48.6% limited partner interest in Cheniere Partners in the form of 239.9 million common units, with the remaining non-controlling limited partner interest held by The Blackstone Group Inc., Brookfield Asset Management Inc. and the public. We also own 100% of the general partner interest and the incentive distribution rights in Cheniere Partners. Cheniere Partners is accounted for as a consolidated VIE. See Note 9—Non-Controlling Interest and Variable Interest Entity of our Notes to Consolidated Financial Statements in our annual report on Form 10-K for the fiscal year ended December 31, 2020 for further information.

The following table presents the summarized assets and liabilities (in millions) of Cheniere Partners, our consolidated VIE, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of Cheniere Partners. In addition, there is no recourse to us for the consolidated VIE’s liabilities. The assets and liabilities in the table below include third-party assets and liabilities of Cheniere Partners only and exclude intercompany balances that eliminate in consolidation.

	March 31,		December 31,
	2021		2020
ASSETS
Current assets
Cash and cash equivalents	$	1,219	$	1,210
Restricted cash	123		97
Accounts and other receivables, net	373		318
Other current assets	178		182
Total current assets	1,893		1,807
Property, plant and equipment, net	16,734		16,723
Other non-current assets, net	299		287
Total assets	$	18,926	18,817
LIABILITIES
Current liabilities
Accrued liabilities	$	704	658
Current debt	850		—
Other current liabilities	149		171
Total current liabilities	1,703		829
Long-term debt, net	16,732		17,580
Other non-current liabilities	131		126
Total liabilities	$	18,566	$	18,535