Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)

v3.23.2
Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
June 30, December 31,
2023 2022
LNG terminal    
Terminal and interconnecting pipeline facilities $ 20,131  $ 20,072 
Construction-in-process 149  140 
Accumulated depreciation (3,840) (3,512)
Total LNG terminal, net of accumulated depreciation 16,440  16,700 
Fixed assets  
Fixed assets 29  29 
Accumulated depreciation (25) (25)
Total fixed assets, net of accumulated depreciation 4  4 
Assets under finance leases
Tug vessels 23  23 
Accumulated depreciation (4) (2)
Total assets under finance lease, net of accumulated depreciation 19  21 
Property, plant and equipment, net of accumulated depreciation $ 16,463  $ 16,725 
Schedule of Depreciation and Offsets to LNG Terminal Costs
The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Depreciation expense $ 166  $ 155  $ 331  $ 307 
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.