Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

v3.10.0.1
Revenues from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2018
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table represents a disaggregation of revenue earned from contracts with customers during the three and nine months ended September 30, 2018 and 2017 (in millions):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2018
 
2017
 
2018
 
2017
LNG revenues
 
$
1,185

 
$
717

 
$
3,302

 
$
1,695

LNG revenues—affiliate
 
205

 
111

 
886

 
864

Regasification revenues
 
66

 
65

 
196

 
195

Other revenues
 
9

 
3

 
28

 
7

Other revenues—affiliate
 

 
1

 

 
2

Total revenues from customers
 
1,465


897

 
4,412

 
2,763

Gains from derivative instruments (1)
 
64

 
6

 
117

 
23

Total revenues
 
$
1,529


$
903

 
$
4,529

 
$
2,786

 
(1)
Includes the realized value associated with a portion of derivative instruments that settle through physical delivery.
Contract Balances Reconciliation
The following table reflects the changes in our contract liabilities, which we classify as deferred revenues on our Consolidated Balance Sheets (in millions):
 
 
Nine Months Ended September 30, 2018
Deferred revenues, beginning of period
 
$
111

Cash received but not yet recognized
 
119

Revenue recognized from prior period deferral
 
(111
)
Deferred revenues, end of period
 
$
119

Transaction Price Allocated to Future Performance Obligations
The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied as of September 30, 2018:
 
 
Unsatisfied
Transaction Price
(in billions)
 
Weighted Average Recognition Timing (years) (1)
LNG revenues
 
$
54.2

 
10.2
Regasification revenues
 
2.7

 
5.8
Total revenues
 
$
56.9

 
 
 
    
(1)
The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.