Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues                      
Revenues $ 1,908 $ 1,476 $ 1,705 $ 1,749 $ 1,897 $ 1,529 $ 1,407 $ 1,593 $ 6,838 $ 6,426 $ 4,304
Revenues from contracts with customers                 6,837 6,427 4,304
Operating costs and expenses                      
Cost of sales (excluding depreciation and amortization expense shown separately below)                 3,374 3,403 2,320
Cost of sales—affiliate                 7 0 0
Operating and maintenance expense                 632 409 292
Operating and maintenance expense—affiliate                 138 117 100
Development expense                 0 2 3
General and administrative expense                 11 11 12
General and administrative expense—affiliate                 102 73 80
Depreciation and amortization expense                 527 424 339
Impairment expense and loss on disposal of assets                 7 8 2
Total operating costs and expenses                 4,798 4,447 3,148
Income from operations 676 346 455 563 524 492 455 508 2,040 1,979 1,156
Other income (expense)                      
Interest expense, net of capitalized interest                 (885) (733) (614)
Loss on modification or extinguishment of debt                 (13) (12) (67)
Derivative gain, net                 0 14 4
Other income                 31 26 11
Other income—affiliate                 2 0 0
Total other expense                 (865) (705) (666)
Net income $ 448 $ 110 $ 232 $ 385 $ 351 $ 307 $ 281 $ 335 $ 1,175 $ 1,274 $ 490
Basic and diluted net income (loss) per common unit $ 0.87 [1] $ 0.19 [1] $ 0.44 [1] $ 0.75 [1] $ 0.69 [1] $ 0.60 [1] $ 0.55 [1] $ 0.67 [1] $ 2.25 $ 2.51 $ (1.32)
Weighted average number of common units outstanding used for basic and diluted net income (loss) per common unit calculation                 348.6 348.6 178.5
LNG [Member]                      
Revenues                      
Revenues                 $ 5,211 $ 4,827 $ 2,635
Revenues from contracts with customers                 5,210 4,828 2,635
LNG—affiliate [Member]                      
Revenues                      
Revenues from contracts with customers                 1,312 1,299 1,389
Regasification [Member]                      
Revenues                      
Revenues from contracts with customers                 266 261 260
Other [Member]                      
Revenues                      
Revenues from contracts with customers                 $ 49 $ 39 $ 20
[1]
The sum of the quarterly net income per common unit may not equal the full year amount as the undistributed income and loss allocations and computations of the weighted average common units outstanding for basic and diluted common units outstanding for each quarter and the full year are performed independently.