Non-Controlling Interest and Variable Interest Entity

9 Months Ended

Sep. 30, 2024

Noncontrolling Interest and Variable Interest Entity [Abstract]

Non-Controlling Interest and Variable Interest Entity

NON-CONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES

When we consolidate our VIEs, we include 100% of the assets, liabilities, revenues and expenses of the VIE in our Consolidated Financial Statements; however, when our ownership is less than 100%, we record a non-controlling interest as a component of equity or redeemable non-controlling interest on our Consolidated Balance Sheets, which represents the third party ownership in the net assets of the respective consolidated subsidiary. Additionally, the portion of the net income or loss attributable to the non-controlling interests is reported as net income attributable to non-controlling interest on our Consolidated Statements of Operations.

Substantially all of our consolidated VIEs’ assets and liabilities relate to CQP. We own a 48.6% limited partner interest in CQP, and we also own all of the 2% general partner interest and 100% of the incentive distribution rights in CQP. The remaining 49.4% non-controlling limited partner interest in CQP is held by affiliates of Blackstone Inc. and Brookfield Asset Management, Inc. (“Brookfield”) as well as the public.

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

	September 30,		December 31,
	2024		2023
ASSETS
Current assets
Cash and cash equivalents	$	331	$	575
Restricted cash and cash equivalents	103		56
Trade and other receivables, net of current expected credit losses	240		373
Inventory	138		142
Current derivative assets	50		30
Margin deposits	12		—
Other current assets, net	58		43
Total current assets	932		1,219
Property, plant and equipment, net of accumulated depreciation	15,971		16,212
Operating lease assets	80		81
Derivative assets	64		40
Other non-current assets, net	188		188
Total assets	$	17,235	$	17,740
LIABILITIES
Current liabilities
Accounts payable	$	52	$	69
Accrued liabilities	577		811
Current debt, net of unamortized discount and debt issuance costs	700		300
Deferred revenue	136		114
Current operating lease liabilities	3		10
Current derivative liabilities	222		196
Other current liabilities	5		8
Total current liabilities	1,695		1,508
Long-term debt, net of unamortized discount and debt issuance costs	14,756		15,606
Operating lease liabilities	77		71
Finance lease liabilities	69		14
Derivative liabilities	1,256		1,531
Other non-current liabilities	101		75
Total liabilities	$	17,954	$	18,805