Current report filing

Restricted Cash

v3.8.0.1
Restricted Cash
3 Months Ended
Mar. 31, 2018
Restricted Cash [Abstract]  
Restricted Cash
RESTRICTED CASH
 
Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. As of March 31, 2018 and December 31, 2017, restricted cash consisted of the following (in millions):
 
 
March 31,
 
December 31,
 
 
2018
 
2017
Current restricted cash
 
 
 
 
Liquefaction Project
 
$
561

 
$
544

CQP and cash held by guarantor subsidiaries
 
916

 
1,045

Total current restricted cash
 
$
1,477

 
$
1,589



Under our $2.8 billion credit facilities (the “2016 CQP Credit Facilities”), we, as well as Cheniere Investments, SPLNG and CTPL as our guarantor subsidiaries, are subject to limitations on the use of cash under the terms of the 2016 CQP Credit Facilities and the related depositary agreement governing the extension of credit to us. Specifically, we, Cheniere Investments, SPLNG and CTPL may only withdraw funds from collateral accounts held at a designated depositary bank on a monthly basis and for specific purposes, including for the payment of operating expenses. In addition, distributions and capital expenditures may only be made quarterly and are subject to certain restrictions.