Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant

v2.4.0.6
Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure
SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF REGISTRANT—

CHENIERE ENERGY PARTNERS, L.P.
CONDENSED BALANCE SHEET
(in thousands) 
 
 
December 31,
 
 
2012
 
2011
ASSETS
 
 

 
 

Current assets
 
 

 
 

Cash and cash equivalents
 
$
392,945

 
$
56,119

Advances to affiliate
 
—

 
136

Prepaid expenses and other
 
134

 
135

Total current assets
 
393,079

 
56,390

 
 
 
 
 
Investment in affiliates
 
972,395

 
—

Non-current receivable—affiliates
 
940

 
47,238

Other
 
874

 
—

Total assets
 
$
1,367,288


$
103,628

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ DEFICIT
 
 

 
 

Current liabilities
 
$
4,480

 
$
3,806

Equity in losses of affiliates
 
—

 
644,841

Commitments and contingencies
 
 
 
 
Stockholders' equity (deficit)
 
1,362,808

 
(545,019
)
Total liabilities and stockholders’ deficit
 
$
1,367,288

 
$
103,628





























See accompanying notes to condensed financial statements.
CONDENSED STATEMENT OF OPERATIONS
(in thousands) 
 
 
Year Ended December 31,
 
 
2012
 
2011
 
2010
Revenues 
 
$
—

 
$
—

 
$
—

Operating costs and expenses
 
18,262

 
13,104

 
14,723

Loss from operations
 
(18,262
)
 
(13,104
)
 
(14,723
)
Interest expense, net
 
12

 
—

 
—

Interest income
 
235

 
38

 
51

Equity income (loss) of affiliates
 
(132,121
)
 
(17,953
)
 
122,240

Net income (loss)
 
$
(150,136
)
 
$
(31,019
)
 
$
107,568







































See accompanying notes to condensed financial statements.
CONDENSED STATEMENT OF CASH FLOWS
(in thousands)
 
 
 
Year Ended December 31,
 
 
2012
 
2011
 
2010
Cash flows from operating activities
 
$
(17,508
)
 
$
(13,948
)
 
$
(10,193
)
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
Investment in subsidiaries
 
(1,832,440
)
 
—

 
(20,918
)
Other
 
3

 
—

 
—

Net cash used in investing activities
 
(1,832,437
)
 
—

 
(20,918
)
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 

 
 

 
 

Proceeds from sale of Class B units
 
1,887,342

 
—

 
—

Distributions received from affiliates, net
 
61,529

 
59,910

 
229,608

Distributions to owners
 
(57,821
)
 
(48,149
)
 
(163,249
)
Proceeds from sale of partnership units
 
250,021

 
70,157

 
—

Affiliate receivable
 
46,574

 
(38,333
)
 
(8,896
)
Deferred financing costs
 
(874
)
 
—

 
—

Net cash provided by financing activities
 
2,186,771

 
43,585

 
57,463

 
 
 
 
 
 
 
Net increase in cash and cash equivalents
 
336,826

 
29,637

 
26,352

Cash and cash equivalents—beginning of year
 
56,119

 
26,482

 
130

Cash and cash equivalents—end of year
 
$
392,945

 
$
56,119

 
$
26,482


























See accompanying notes to condensed financial statements.
NOTES TO CONDENSED FINANCIAL STATEMENTS
NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
The condensed financial statements represent the financial information required by Securities and Exchange Commission Regulation S-X 5-04 for Cheniere Energy Partners, L.P. ("Cheniere Partners").
 
In the condensed financial statements, Cheniere Partners’ investments in affiliates are presented under the equity method of accounting. Under this method, the assets and liabilities of affiliates are not consolidated. The investments in net assets of the affiliates are recorded in the balance sheets. The gain/(loss) from operations of the affiliates is reported on a net basis as equity in net gains/(losses) of affiliates.
 
A substantial amount of Cheniere Partners’ operating, investing, and financing activities are conducted by its affiliates. The condensed financial statements should be read in conjunction with Cheniere Partners’ Consolidated Financial Statements.
 NOTE 2—SUPPLEMENTAL CASH FLOW INFORMATION AND DISCLOSURES OF NON-CASH TRANSACTIONS
 
 
 
Year Ended December 31,
 
 
2012
 
2011
 
2010
 
 
(in thousands)
Non-cash capital contributions (1)
 
$
(132,121
)
 
$
(17,953
)
 
122,240

 
(1)
Amounts represent equity gains (losses) of affiliates not funded by Cheniere Partners.