Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net of Accumulated Depreciation

Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):

	December 31,
	2023		2022
Terminal and related assets
Terminal and interconnecting pipeline facilities (1)	$	34,069	$	33,815
Land	463		451
Construction-in-process	3,480		1,685
Accumulated depreciation	(6,099)		(4,985)
Total terminal and related assets, net of accumulated depreciation	31,913		30,966
Fixed assets and other
Computer and office equipment	37		33
Furniture and fixtures	31		20
Computer software	125		121
Leasehold improvements	43		48
Other	21		20
Accumulated depreciation	(183)		(191)
Total fixed assets and other, net of accumulated depreciation	74		51
Assets under finance leases
Marine assets	532		533
Accumulated depreciation	(63)		(22)
Total assets under finance leases, net of accumulated depreciation	469		511
Property, plant and equipment, net of accumulated depreciation	$	32,456	$	31,528

(1)Includes power generation facility and associated power infrastructure located near Corpus Christi, Texas that was acquired during the year ended December 31, 2023 to mitigate power price risk associated with our anticipated increased power load at the Corpus Christi LNG Terminal.

Schedule of Depreciation and Offsets to LNG Terminal Costs

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

	Year Ended December 31,
	2023		2022		2021
Depreciation expense	$	1,190	$	1,113	$	1,006
Offsets to LNG terminal costs (1)	—		204		319

(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.

Property Plant and Equipment Estimated Useful Lives Table

The identifiable components of our terminal and related assets have depreciable lives between 6 and 50 years, as follows:

Components	Useful life (years)
LNG storage tanks	50
Natural gas pipeline facilities	40
Marine berth, electrical, facility and roads	35
Water pipelines	30
Regasification processing equipment	30
Sendout pumps	20
Liquefaction processing equipment	6-50
Other	10-30