Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

v3.19.2
Revenues from Contracts with Customers (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2019 and 2018 (in millions):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2019
 
2018
 
2019
 
2018
LNG revenues
 
$
2,080

 
$
1,516

 
$
4,147

 
$
3,668

Regasification revenues
 
67

 
65

 
133

 
130

Other revenues
 
21

 
13

 
36

 
23

Total revenues from customers
 
2,168

 
1,594

 
4,316

 
3,821

Net derivative gains (losses) (1)
 
93

 
(64
)
 
169

 
(60
)
Other revenues (2)
 
31

 
13

 
68

 
24

Total revenues
 
$
2,292

 
$
1,543

 
$
4,553

 
$
3,785

 
(1)
See Note 6—Derivative Instruments for additional information about our derivatives.
(2)
Includes revenues from LNG vessel subcharters. See Note 11—Leases for additional information about our subleases.
Contract Assets
The following table shows our contract assets, which we classify as other non-current assets, net on our Consolidated Balance Sheets (in millions):
 
 
June 30,
 
December 31,
 
 
2019
 
2018
Contract assets
 
$
8

 
$
—


Contract Liabilities
The following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions):
 
 
Six Months Ended June 30, 2019
Deferred revenues, beginning of period
 
$
139

Cash received but not yet recognized
 
136

Revenue recognized from prior period deferral
 
(139
)
Deferred revenues, end of period
 
$
136


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 June 30, 2019 and December 31, 2018:
 
 
June 30, 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
 
$
108.4

 
11
 
$
106.6

 
11
Regasification revenues
 
2.5

 
5
 
2.6

 
6
Total revenues
 
$
110.9

 

 
$
109.2

 
 
 
    
(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.