Schedule I - Condensed Financial Information of Registrant (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Condensed Financial Statements, Captions [Line Items] |
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| Schedule of Debt Instruments |
As of December 31, 2020 and 2019, our debt consisted of the following (in millions):
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December 31, |
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2020 |
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2019 |
| Long-term debt: |
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SPL — 4.200% to 6.25% senior secured notes due between 2022 and 2037 and working capital facility (“2020 SPL Working Capital Facility”)
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$ |
13,650 |
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$ |
13,650 |
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Cheniere Partners — 4.500% to 5.625% senior notes due between 2025 and 2029 and credit facilities (“2019 CQP Credit Facilities”)
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4,100 |
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4,100 |
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| Unamortized premium, discount and debt issuance costs, net |
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(170) |
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(171) |
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| Total long-term debt, net |
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17,580 |
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17,579 |
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| Current debt: |
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SPL — $1.2 billion Amended and Restated SPL Working Capital Facility (“2015 SPL Working Capital Facility”)
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— |
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— |
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| Total debt, net |
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$ |
17,580 |
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$ |
17,579 |
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| Schedule of Maturities of Long-term Debt |
Below is a schedule of future principal payments that we are obligated to make, based on current construction schedules, on our outstanding debt at December 31, 2020 (in millions):
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| Years Ending December 31, |
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Principal Payments |
| 2021 |
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$ |
— |
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| 2022 |
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1,000 |
| 2023 |
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1,500 |
| 2024 |
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2,000 |
| 2025 |
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3,523 |
| Thereafter |
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9,727 |
| Total |
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$ |
17,750 |
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| Schedule of Cash Flow, Supplemental Disclosures |
The following table provides supplemental disclosure of cash flow information (in millions):
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
| Cash paid during the period for interest, net of amounts capitalized |
$ |
904 |
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$ |
829 |
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$ |
719 |
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| Parent Company [Member] |
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| Condensed Financial Statements, Captions [Line Items] |
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| Condensed Income Statement |
CHENIERE ENERGY PARTNERS, L.P.
CONDENSED STATEMENTS OF INCOME
(in millions)
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
| Operating costs and expenses |
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| General and administrative expense |
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$ |
3 |
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$ |
3 |
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$ |
4 |
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| General and administrative expense—affiliate |
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14 |
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13 |
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12 |
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| Depreciation and amortization expense |
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3 |
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3 |
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2 |
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| Total operating costs and expenses |
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20 |
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19 |
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18 |
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| Other income |
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| Interest expense, net of capitalized interest |
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(217) |
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(174) |
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(139) |
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| Loss on modification or extinguishment of debt |
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— |
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(13) |
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(12) |
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| Derivative gain, net |
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— |
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— |
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14 |
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| Other income |
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7 |
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21 |
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13 |
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| Equity income of affiliates |
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1,413 |
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1,360 |
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1,416 |
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| Total other income |
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1,203 |
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1,194 |
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1,292 |
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| Net income |
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$ |
1,183 |
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$ |
1,175 |
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$ |
1,274 |
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| Condensed Balance Sheet |
CHENIERE ENERGY PARTNERS, L.P.
CONDENSED BALANCE SHEETS
(in millions)
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December 31, |
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2020 |
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2019 |
| ASSETS |
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| Current assets |
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| Cash and cash equivalents |
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$ |
1,208 |
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$ |
1,778 |
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| Other current assets |
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1 |
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— |
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| Total current assets |
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1,209 |
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1,778 |
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| Property, plant and equipment, net |
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79 |
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79 |
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| Debt issuance costs, net |
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7 |
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9 |
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| Investment in affiliates |
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3,359 |
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2,963 |
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| Total assets |
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$ |
4,654 |
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$ |
4,829 |
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| LIABILITIES AND PARTNERS’ EQUITY |
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| Current liabilities |
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| Accrued liabilities |
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$ |
52 |
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$ |
56 |
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| Due to affiliates |
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3 |
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3 |
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| Total current liabilities |
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55 |
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59 |
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| Long-term debt, net |
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4,060 |
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4,055 |
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| Partners’ equity |
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539 |
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715 |
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| Total liabilities and partners’ equity |
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$ |
4,654 |
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$ |
4,829 |
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| Condensed Cash Flow Statement |
CHENIERE ENERGY PARTNERS, L.P.
CONDENSED STATEMENTS OF CASH FLOWS
(in millions)
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
| Cash flows provided by operating activities |
$ |
1,190 |
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$ |
1,220 |
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$ |
714 |
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| Cash flows from investing activities |
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| Property, plant and equipment, net |
(3) |
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(2) |
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— |
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| Investments in subsidiaries |
(689) |
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(1,273) |
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(304) |
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| Distributions received from affiliates |
291 |
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853 |
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454 |
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| Net cash provided by (used in) investing activities |
(401) |
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(422) |
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150 |
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| Cash flows from financing activities |
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| Proceeds from issuance of debt |
— |
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2,230 |
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1,100 |
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| Repayments of debt |
— |
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(730) |
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(1,090) |
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| Debt issuance and deferred financing costs |
— |
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(35) |
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(8) |
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| Debt extinguishment costs |
— |
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— |
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(7) |
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| Distributions to owners |
(1,359) |
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(1,260) |
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(1,113) |
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| Other |
— |
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(4) |
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— |
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| Net cash provided by (used in) financing activities |
(1,359) |
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201 |
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(1,118) |
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| Net increase (decrease) in cash, cash equivalents and restricted cash |
(570) |
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999 |
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(254) |
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| Cash, cash equivalents and restricted cash—beginning of period |
1,778 |
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|
779 |
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1,033 |
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| Cash and cash equivalents—end of period |
$ |
1,208 |
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$ |
1,778 |
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$ |
779 |
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| Schedule of Debt Instruments |
As of December 31, 2020 and 2019, our debt consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2020 |
|
2019 |
| Long-term debt: |
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|
|
4.500% to 5.625% senior notes due between 2025 and 2029 and credit facilities (“2019 CQP Credit Facilities”) |
|
$ |
4,100 |
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$ |
4,100 |
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| Unamortized debt issuance costs |
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(40) |
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(45) |
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| Total long-term debt, net |
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$ |
4,060 |
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$ |
4,055 |
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| Schedule of Maturities of Long-term Debt |
Below is a schedule of future principal payments that we are obligated to make on our outstanding debt at December 31, 2020 (in millions):
|
|
|
|
|
|
|
|
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| Years Ending December 31, |
|
Principal Payments |
| 2021 |
|
$ |
— |
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| 2022 |
|
— |
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| 2023 |
|
— |
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| 2024 |
|
— |
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| 2025 |
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1,500 |
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| Thereafter |
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2,600 |
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| Total |
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$ |
4,100 |
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| Schedule of Cash Flow, Supplemental Disclosures |
The following table provides supplemental disclosure of cash flow information (in millions):
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Year Ended December 31, |
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2020 |
|
2019 |
|
2018 |
| Cash paid during the period for interest, net of amounts capitalized |
|
$ |
213 |
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$ |
151 |
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$ |
115 |
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| Non-cash capital distributions (1) |
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1,413 |
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1,360 |
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1,416 |
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(1)Amounts represent equity income of affiliates.
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