Cheniere Energy Partners, L.P. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Leases, Balance Sheet Location

The following table shows the classification and location of our right-of-use assets and lease liabilities on our Consolidated Balance Sheets (in millions):



	Consolidated Balance Sheet Location	September 30, 2019
Right-of-use assets—Operating	Operating lease assets, net	$	91
Current operating lease liabilities	Current operating lease liabilities	6
Non-current operating lease liabilities	Non-current operating lease liabilities	84

Schedule of Lease Cost, Income Statement Location

The following table shows the classification and location of our lease cost on our Consolidated Statements of Income (in millions):



	Consolidated Statement of Income Location	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost (1)	Operating costs and expenses (2)	$	2	$	8

(1) Includes $1 million of variable lease costs.

(2)

Presented in cost of sales, operating and maintenance expense, general and administrative expense or general and administrative expense—affiliate consistent with the nature of the asset under lease.

Schedule of Maturity of Lease Liabilities

Future annual minimum lease payments for operating leases as of September 30, 2019 are as follows (in millions):



Years Ending December 31,	Operating Leases
2019	$	3
2020	10
2021	10
2022	10
2023	10
Thereafter	125
Total lease payments	168
Less: Interest	(78		)
Present value of lease liabilities	$	90

Future annual minimum lease payments for operating leases as of December 31, 2018, prepared in accordance with accounting standards prior to the adoption of ASC 842, were as follows (in millions):



Years Ending December 31,	Operating Leases (1)
2019	$	10
2020	10
2021	10
2022	10
2023	10
Thereafter	124
Total	$	174

(1)

Includes certain lease option renewals that are reasonably assured and payments for certain non-lease components.

Lessee, Other Quantitative Information

The following table shows the weighted-average remaining lease term (in years) and the weighted-average discount rate for our operating leases:



	September 30, 2019
Weighted-average remaining lease term (in years)	25.9
Weighted-average discount rate	4.8	%

The following table includes other quantitative information for our operating leases (in millions):



	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	7