Revenues (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table represents a disaggregation of revenue earned (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenues from contracts with customers
LNG revenues	$	3,941	$	8,422	$	14,950	$	23,774
Regasification revenues	34		455		101		591
Other revenues	50		27		120		78
Total revenues from contracts with customers	4,025		8,904		15,171		24,443
Net derivative gain (loss) (1)	33		(186)		34		(325)
Other (2)	101		134		366		225
Total revenues	$	4,159	$	8,852	$	15,571	$	24,343

(1)See Note 6—Derivative Instruments for additional information about our derivatives.

(2)Includes revenues from LNG vessel subcharters. See Note 10—Leases for additional information about our subleases.

Contract Assets

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

	September 30,		December 31,
	2023		2022
Contract assets, net of current expected credit losses	$	218	$	186

Contract Liabilities

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

	Nine Months Ended September 30, 2023
Deferred revenue, beginning of period	$	320
Cash received but not yet recognized in revenue	345
Revenue recognized from prior period deferral	(320)
Deferred revenue, end of period	$	345

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:

	September 30, 2023			December 31, 2022
	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)
LNG revenues	$	112.5	9	$	112.0	9
Regasification revenues	0.7		3	0.8		4
Total revenues	$	113.2		$	112.8

(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.

Revenue, Remaining Performance Obligation, Variable Consideration

The following table summarizes the amount of variable consideration earned under contracts with customers included in the table above:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
LNG revenues	63	%	76	%	71	%	72	%
Regasification revenues	7	%	1	%	7	%	2	%