Quarterly report pursuant to Section 13 or 15(d)

Revenues (Tables)

v3.23.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table represents a disaggregation of revenue earned (in millions):
Three Months Ended March 31,
2023 2022
Revenues from contracts with customers
LNG revenues $ 2,106  $ 2,488 
LNG revenues—affiliate 761  757 
Regasification revenues 34  68 
Other revenues 16  15 
Total revenues from contracts with customers $ 2,917  $ 3,328 
(1)See Note 7—Derivative Instruments for additional information about our derivatives.
Contract with Customer, Asset
The following table shows our contract assets, net of current expected credit losses, which are classified as other current assets and other non-current assets, net on our Consolidated Balance Sheets (in millions):
March 31, December 31,
2023 2022
Contract assets, net of current expected credit losses $ 1  $ 1 
Contract Balances Reconciliation
The following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions):
Three Months Ended March 31, 2023
Deferred revenue, beginning of period $ 144 
Cash received but not yet recognized in revenue 83 
Revenue recognized from prior period deferral (144)
Deferred revenue, end of period $ 83 

The following table reflects the changes in our contract liabilities to affiliate, which we classify as deferred revenue—affiliate and other non-current liabilities—affiliate on our Consolidated Balance Sheets (in millions):
Three Months Ended March 31, 2023
Deferred revenue—affiliate, beginning of period $ 8 
Cash received but not yet recognized in revenue 5 
Revenue recognized from prior period deferral (8)
Deferred revenue—affiliate, end of period $ 5 
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:
March 31, 2023 December 31, 2022
Unsatisfied
Transaction Price
(in billions)		 Weighted Average Recognition Timing (years) (1) Unsatisfied
Transaction Price
(in billions)		 Weighted Average Recognition Timing (years) (1)
LNG revenues $ 49.9  8 $ 50.8  8
LNG revenues—affiliate 1.8  2 2.0  2
Regasification revenues 0.8  4 0.8  4
Total revenues $ 52.5  $ 53.6 
(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.