Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.22.2.2
Property, Plant and Equipment, Net of Accumulated Depreciation
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION
 
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
September 30, December 31,
2022 2021
LNG terminal    
Terminal and interconnecting pipeline facilities $ 19,459  $ 16,973 
Construction-in-process 699  2,746 
Accumulated depreciation (3,356) (2,893)
Total LNG terminal, net of accumulated depreciation 16,802  16,826 
Fixed assets    
Fixed assets 29  29 
Accumulated depreciation (26) (25)
Total fixed assets, net of accumulated depreciation 3  4 
Assets under finance lease
Tug vessels 23  — 
Accumulated depreciation (1) — 
Total assets under finance lease, net of accumulated depreciation 22  — 
Property, plant and equipment, net of accumulated depreciation $ 16,827  $ 16,830 

The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
Depreciation expense $ 158  $ 139  $ 465  $ 414 
Offsets to LNG terminal costs (1) —  —  148  — 
(1)We recognize offsets to LNG terminal costs related to the sale of commissioning cargoes because these amounts were earned or loaded prior to the start of commercial operations of the respective Trains of the Liquefaction Project during the testing phase for its construction.