Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

v3.19.1
Revenues from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue The following table represents a disaggregation of revenue earned from contracts with customers during the three months ended March 31, 2019 and 2018 (in millions):
 
 
Three Months Ended March 31,
 
 
2019
 
2018
LNG revenues
 
$
1,366

 
$
1,015

LNG revenues—affiliate
 
305

 
503

Regasification revenues
 
66

 
65

Other revenues
 
11

 
10

Total revenues from customers
 
1,748

 
1,593

Gains from derivative instruments
 
1

 
—

Total revenues
 
$
1,749

 
$
1,593



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, 2019
Deferred revenues, beginning of period
 
$
116

Cash received but not yet recognized
 
106

Revenue recognized from prior period deferral
 
(116
)
Deferred revenues, end of period
 
$
106

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 as of March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
December 31, 2018
 
 
Unsatisfied
Transaction Price
(in billions)
 
Weighted Average Recognition Timing (years) (1)
 
Unsatisfied
Transaction Price
(in billions)
 
Weighted Average Recognition Timing (years) (1)
LNG revenues
 
$
53.1

 
10
 
$
53.6

 
10
Regasification revenues
 
2.6

 
6
 
2.6

 
6
Total revenues
 
$
55.7

 
 
 
$
56.2

 
 
 
    
(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.