Property, Plant and Equipment, Net of Accumulated Depreciation

9 Months Ended

Sep. 30, 2023

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):

	September 30,		December 31,
	2023		2022
LNG terminal
Terminal and interconnecting pipeline facilities	$	33,881	$	33,815
Site and related costs	461		451
Construction-in-process	2,981		1,685
Accumulated depreciation	(5,821)		(4,985)
Total LNG terminal, net of accumulated depreciation	31,502		30,966
Fixed assets and other
Computer and office equipment	36		33
Furniture and fixtures	20		20
Computer software	125		121
Leasehold improvements	69		48
Other	21		20
Accumulated depreciation	(202)		(191)
Total fixed assets and other, net of accumulated depreciation	69		51
Assets under finance leases
Marine assets	532		533
Accumulated depreciation	(50)		(22)
Total assets under finance leases, net of accumulated depreciation	482		511
Property, plant and equipment, net of accumulated depreciation	$	32,053	$	31,528

The following table shows depreciation expense and offsets to LNG terminal costs (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Depreciation expense	$	296	$	278	$	887	$	822
Offsets to LNG terminal costs (1)	—		—		—		204

(1)We recognize offsets to LNG terminal costs related to the sale of commissioning cargoes because these amounts were earned or loaded prior to the start of commercial operations of the respective Trains of the Liquefaction Projects during the testing phase for its construction.