Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
LNG revenues $ 1,155 $ 503 $ 2,170 $ 995
LNG revenues—affiliate 178 422 681 753
Regasification revenues 65 65 130 130
Other revenues 9 2 19 4
Other revenues—affiliate 0 0 0 1
Total revenues 1,407 992 3,000 1,883
Operating costs and expenses        
Cost of sales (excluding depreciation and amortization expense shown separately below) 698 577 1,535 1,090
Operating and maintenance expense 98 82 193 132
Operating and maintenance expense—affiliate 30 21 56 39
Development expense 1 1 1 1
General and administrative expense 2 2 6 5
General and administrative expense—affiliate 17 23 35 45
Depreciation and amortization expense 106 86 211 152
Total operating costs and expenses 952 792 2,037 1,464
Income from operations 455 200 963 419
Other income (expense)        
Interest expense, net of capitalized interest (184) (154) (369) (284)
Loss on modification or extinguishment of debt 0 0 0 (42)
Derivative gain (loss), net 3 (3) 11 (3)
Other income 7 3 11 3
Total other expense (174) (154) (347) (326)
Net income $ 281 $ 46 $ 616 $ 93
Basic and diluted net income (loss) per common unit $ 0.55 $ (3.71) $ 1.22 $ (4.50)
Weighted average number of common units outstanding used for basic and diluted net income (loss) per common unit calculation 348.6 57.1 348.6 57.1