v3.20.1
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Revenues $ 2,709 $ 2,261
Revenues from contracts with customers 2,493 2,149
Operating costs and expenses    
Cost of sales (excluding items shown separately below) 724 1,214
Operating and maintenance expense 316 221
Development expense 4 1
Selling, general and administrative expense 81 73
Depreciation and amortization expense 233 144
Impairment expense and loss on disposal of assets 5 2
Total operating costs and expenses 1,363 1,655
Income from operations 1,346 606
Other income (expense)    
Interest expense, net of capitalized interest (412) (247)
Loss on modification or extinguishment of debt (1) 0
Interest rate derivative loss, net (208) (35)
Other income, net 9 16
Total other expense (612) (266)
Income before income taxes and non-controlling interest 734 340
Income tax provision (131) (3)
Net income 603 337
Less: net income attributable to non-controlling interest 228 196
Net income attributable to common stockholders $ 375 $ 141
Net income (loss) per share attributable to common stockholders—basic [1] $ 1.48 $ 0.55
Net income (loss) per share attributable to common stockholders—diluted [1] $ 1.43 $ 0.54
Weighted average number of common shares outstanding—basic 253.0 257.1
Weighted average number of common shares outstanding—diluted 299.6 258.5
LNG [Member]    
Revenues    
Revenues $ 2,568 $ 2,143
Revenues from contracts with customers [2] 2,404 2,068
Regasification [Member]    
Revenues    
Revenues from contracts with customers 67 66
Other [Member]    
Revenues    
Revenues 74 52
Revenues from contracts with customers $ 22 $ 15
[1]
Earnings per share in the table may not recalculate exactly due to rounding because it is calculated based on whole numbers, not the rounded numbers presented.
[2]
LNG revenues include revenues for LNG cargoes in which our customers exercised their contractual right to not take delivery but remained obligated to pay fixed fees irrespective of such election. Revenue associated with canceled LNG cargoes is generally recognized upon notice of customer cancellation because our customers have no contractual right to take delivery of canceled LNG cargoes in future periods and our performance obligations with respect to such canceled LNG cargoes have been satisfied.

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