Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2025		Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 1,648	[1]	$ 2,638
Restricted cash and cash equivalents	369	[1]	552
Trade and other receivables, net of current expected credit losses	761		727
Inventory	482		501
Current derivative assets	147		155
Margin deposits	150		128
Other current assets, net	147		100
Total current assets	3,704		4,801
Property, plant and equipment, net of accumulated depreciation	34,829		33,552
Operating lease assets	2,776		2,684
Derivative assets	2,236		1,903
Deferred Income Tax Assets, Net	18		19
Other non-current assets, net	1,015		899
Total assets	44,578	[1]	43,858
Current liabilities
Accounts payable	161		171
Accrued liabilities	1,492		2,179
Current debt, net of unamortized discount and debt issuance costs	609		351
Deferred revenue	145		163
Current operating lease liabilities	562		592
Current derivative liabilities	706		902
Other current liabilities	100		83
Total current liabilities	3,775		4,441
Long-term debt, net of unamortized discount and debt issuance costs	22,012		22,554
Non-current operating lease liabilities	2,216		2,090
Derivative liabilities	1,621		1,865
Deferred tax liabilities	2,307		1,856
Other non-current liabilities	1,338		992
Total liabilities	33,269		33,798
Redeemable non-controlling interest	58		7
Stockholders’ equity
Preferred stock: $0.0001 par value, 5.0 million shares authorized, none issued	0		0
Common stock: $0.003 par value, 480.0 million shares authorized; 279.2 million shares and 278.7 million shares issued at June 30, 2025 and December 31, 2024, respectively	1		1
Treasury stock: 57.7 million shares and 54.7 million shares at June 30, 2025 and December 31, 2024, respectively, at cost	(6,798)		(6,136)
Additional paid-in-capital	4,483		4,452
Retained earnings	9,021		7,382
Total Cheniere stockholders’ equity	6,707		5,699
Non-controlling interests	4,544		4,354
Total stockholders’ equity	11,251		10,053
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 44,578	[1]	$ 43,858

[1] Amounts presented include balances held by our consolidated variable interest entities (“VIEs”), substantially all of which are related to CQP, as further discussed in Note 6—Non-Controlling Interests and Variable Interest Entities. As of June 30, 2025, total assets and liabilities of our VIEs were $16.7 billion and $17.2 billion, respectively, including $108 million of cash and cash equivalents and $40 million of restricted cash and cash equivalents.