Cheniere Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

The following table represents a disaggregation of revenue earned from contracts with customers during the three months ended March 31, 2020 and 2019 (in millions):



	Three Months Ended March 31,
	2020		2019
LNG revenues (1)	$	2,404	$	2,068
Regasification revenues	67		66
Other revenues	22		15
Total revenues from customers	2,493		2,149
Net derivative gains (2)	164		75
Other (3)	52		37
Total revenues	$	2,709	$	2,261

(1)

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.


(2)	See Note 6—Derivative Instruments for additional information about our derivatives.

(3)

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 are classified as other non-current assets, net on our Consolidated Balance Sheets (in millions):



	March 31,		December 31,
	2020		2019
Contract assets	$	34	$	18

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):



	Three Months Ended March 31, 2020
Deferred revenues, beginning of period	$	161
Cash received but not yet recognized	94
Revenue recognized from prior period deferral	(161		)
Deferred revenues, end of period	$	94

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, 2020 and December 31, 2019:



	March 31, 2020			December 31, 2019
	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)	Unsatisfied Transaction Price (in billions)		Weighted Average Recognition Timing (years) (1)
LNG revenues	$	105.4	11	$	106.4	11
Regasification revenues	2.3		5	2.4		5
Total revenues	$	107.7		$	108.8

(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.