Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Income

v3.25.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Revenues $ 10,758 $ 8,704 $ 9,664
Operating costs and expenses      
Cost of sales 5,145 3,574 2,743
Operating and maintenance expense 1,109 1,054 1,107
General and administrative expense 105 100 99
Depreciation and amortization expense 688 680 672
Other operating costs and expenses 5 16 7
Total operating costs and expenses 7,052 5,424 4,628
Income from operations 3,706 3,280 5,036
Other income (expense)      
Interest expense, net of capitalized interest (753) (800) (823)
Loss on modification or extinguishment of debt (8) (3) (6)
Interest and dividend income 18 33 46
Other income—affiliate 24 0 1
Total other expense (719) (770) (782)
Net income $ 2,987 $ 2,510 $ 4,254
Basic and diluted net income per common unit [1] $ 5.17 $ 4.25 $ 6.95
Weighted average basic and diluted number of common units outstanding 484.0 484.0 484.0
Nonrelated Party [Member]      
Operating costs and expenses      
Cost of sales $ 5,145 $ 3,570 $ 2,721
Operating and maintenance expense 904 824 879
General and administrative expense 12 10 10
Other operating costs and expenses 4 14 6
Other income (expense)      
Other income—affiliate 0 0 1
Affiliate [Member]      
Operating costs and expenses      
Cost of sales 0 4 22
Operating and maintenance expense 177 172 166
General and administrative expense 93 90 89
Other operating costs and expenses 1 2 1
Other income (expense)      
Other income—affiliate 24 0 0
Related Party [Member]      
Operating costs and expenses      
Operating and maintenance expense 28 58 62
LNG [Member]      
Revenues      
Revenues 10,558 8,504 9,466
LNG [Member] | Nonrelated Party [Member]      
Revenues      
Revenues 8,200 6,550 6,991
LNG [Member] | Affiliate [Member]      
Revenues      
Revenues 2,358 1,954 2,475
Regasification [Member]      
Revenues      
Revenues 136 135 135
Other [Member]      
Revenues      
Revenues $ 64 $ 65 $ 63
[1] In computing basic and diluted net income per common unit, net income is reduced by the amount of undistributed net income allocated to participating securities other than common units, as required under the two-class method. See Note 14—Net Income per Common Unit.