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

9 Months Ended

Sep. 30, 2025

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):

	September 30,		December 31,
	2025		2024
Terminal and related assets
Terminal and interconnecting pipeline facilities	$	36,492	$	34,282
Land	618		465
Construction-in-process	5,396		5,486
Accumulated depreciation	(8,115)		(7,231)
Total terminal and related assets, net of accumulated depreciation	34,391		33,002
Fixed assets and other
Computer and office equipment	39		36
Furniture and fixtures	33		31
Computer software	124		122
Leasehold improvements	47		47
Other	24		24
Accumulated depreciation	(200)		(188)
Total fixed assets and other, net of accumulated depreciation	67		72
Assets under finance leases
Marine assets	1,060		587
Accumulated depreciation	(173)		(109)
Total assets under finance leases, net of accumulated depreciation	887		478
Property, plant and equipment, net of accumulated depreciation	$	35,345	$	33,552

Schedule Of Depreciation And Offsets To LNG Terminal Costs

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Depreciation expense	$	337	$	304	$	973	$	907
Offsets to LNG terminal costs (1)	47		—		102		—

(1)We recognized offsets to LNG terminal costs related to the sale of commissioning volumes because these amounts were earned or loaded prior to the start of commercial operations of the respective Trains of the CCL Project and the SPL Project (collectively, the “Liquefaction Projects”) during the testing phase for its construction.