Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant (Tables)

v3.22.0.1
Schedule I - Condensed Financial Information of Registrant (Tables)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]  
Schedule of Debt Instruments
As of December 31, 2021 and 2020, our debt consisted of the following (in millions):
December 31,
2021 2020
SPL:
Senior Secured Notes:
6.25% due 2022
 $ —  $ 1,000 
5.625% due 2023
 1,500  1,500 
5.75% due 2024
 2,000  2,000 
5.625% due 2025
 2,000  2,000 
5.875% due 2026
 1,500  1,500 
5.00% due 2027
 1,500  1,500 
4.200% due 2028
 1,350  1,350 
4.500% due 2030
 2,000  2,000 
4.27% weighted average rate due 2037
 1,282  800 
Total SPL Senior Secured Notes 13,132  13,650 
$1.2 billion Working Capital Revolving Credit and Letter of Credit Reimbursement Agreement (“2020 SPL Working Capital Facility”)
 —  — 
Total debt - SPL 13,132  13,650 
CQP:
Senior Notes:
5.250% due 2025
 —  1,500 
5.625% due 2026
 —  1,100 
4.500% due 2029
 1,500  1,500 
4.000% due 2031
 1,500  — 
3.25% due 2032
 1,200  — 
Total CQP Senior Notes 4,200  4,100 
CQP Credit Facilities executed in 2019 (“2019 CQP Credit Facilities”)
 —  — 
Total debt - CQP 4,200  4,100 
Total debt 17,332  17,750 
Unamortized premium, discount and debt issuance costs, net (155) (170)
Total long-term debt, net of premium, discount and debt issuance costs $ 17,177  $ 17,580 
Schedule of Maturities of Long-term Debt
Below is a schedule of future principal payments that we are obligated to make, based on current construction schedules, on our outstanding debt at December 31, 2021 (in millions):
Years Ending December 31, Principal Payments
2022 $ — 
2023 1,500
2024 2,000
2025 2,037
2026 1,579
Thereafter 10,216
Total $ 17,332 
Schedule of Cash Flow, Supplemental Disclosures
The following table provides supplemental disclosure of cash flow information (in millions):
Year Ended December 31,
2021 2020 2019
Cash paid during the period for interest on debt, net of amounts capitalized $ 812  $ 904  $ 829 
Parent Company [Member]  
Condensed Financial Statements, Captions [Line Items]  
Condensed Income Statement
CHENIERE ENERGY PARTNERS, L.P.

CONDENSED STATEMENTS OF INCOME
(in millions) 
  Year Ended December 31,
  2021 2020 2019
Operating costs and expenses
General and administrative expense $ 3  $ 3  $ 3 
General and administrative expense—affiliate 14  14  13 
Depreciation and amortization expense 3  3  3 
Total operating costs and expenses 20  20  19 
Other income (expense)
Interest expense, net of capitalized interest (199) (217) (174)
Loss on modification or extinguishment of debt (97) —  (13)
Other income 1  7  21 
Equity income of affiliates 1,946  1,413  1,360 
Total other income 1,651  1,203  1,194 
Net income $ 1,631  $ 1,183  $ 1,175 
Condensed Balance Sheet
CHENIERE ENERGY PARTNERS, L.P.

CONDENSED BALANCE SHEETS
(in millions) 
  December 31,
  2021 2020
ASSETS    
Current assets    
Cash and cash equivalents $ 874  $ 1,208 
Other current assets 1  1 
Total current assets 875  1,209 
Property, plant and equipment, net of accumulated depreciation 77  79 
Debt issuance costs, net of accumulated amortization 5  7 
Investment in affiliates 3,966  3,359 
Total assets $ 4,923  $ 4,654 
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities
Accrued liabilities $ 47  $ 52 
Due to affiliates 3  3 
Total current liabilities 50  55 
Long-term debt, net of debt issuance costs 4,154  4,060 
Partners’ equity 719  539 
Total liabilities and partners’ equity $ 4,923  $ 4,654 
Condensed Cash Flow Statement
CHENIERE ENERGY PARTNERS, L.P.

CONDENSED STATEMENTS OF CASH FLOWS
(in millions) 
  Year Ended December 31,
  2021 2020 2019
Cash flows provided by operating activities $ 1,732  $ 1,190  $ 1,220 
Cash flows from investing activities
Property, plant and equipment (1) (3) (2)
Investments in subsidiaries (1,009) (689) (1,273)
Distributions received from affiliates 403  291  853 
Net cash used in investing activities (607) (401) (422)
Cash flows from financing activities  
Proceeds from issuance of debt 2,700  —  2,230 
Redemptions and repayments of debt (2,600) —  (730)
Debt issuance and other financing costs (35) —  (35)
Debt extinguishment costs (73) —  — 
Distributions to owners (1,451) (1,359) (1,260)
Other —  —  (4)
Net cash provided by (used in) financing activities (1,459) (1,359) 201 
Net increase (decrease) in cash, cash equivalents (334) (570) 999 
Cash, cash equivalents—beginning of period 1,208  1,778  779 
Cash and cash equivalents—end of period $ 874  $ 1,208  $ 1,778 
Schedule of Debt Instruments
As of December 31, 2021 and 2020, our debt consisted of the following (in millions):
December 31,
2021 2020
Senior Secured Notes:
5.250% due 2025
 $ —  $ 1,500 
5.625% due 2026
 —  1,100 
4.500% due 2029
 1,500  1,500 
4.000% due 2031
 1,500  — 
3.25% due 2032
 1,200  — 
Total CQP Senior Notes 4,200  4,100 
CQP Credit Facilities executed in 2019
 —  — 
Total debt 4,200  4,100 
Unamortized debt issuance costs (46) (40)
Total long-term debt, net of premium, discount and debt issuance costs $ 4,154  $ 4,060 
Schedule of Maturities of Long-term Debt
Below is a schedule of future principal payments that we are obligated to make on our outstanding debt at December 31, 2021 (in millions): 
Years Ending December 31, Principal Payments
2022 $ — 
2023 — 
2024 — 
2025 — 
2026 — 
Thereafter 4,200 
Total $ 4,200 
Schedule of Cash Flow, Supplemental Disclosures
The following table provides supplemental disclosure of cash flow information (in millions): 
  Year Ended December 31,
  2021 2020 2019
Cash paid during the period for interest, net of amounts capitalized $ 197  $ 213  $ 151 
Non-cash capital distributions (1) 1,946  1,413  1,360 
(1)Amounts represent equity income of affiliates.