| Schedule of Segment Reporting Information, by Segment [Table Text Block] |
The following table summarizes revenues, net income (loss) from operations and total assets for each of our operating segments (in thousands):
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Segments |
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LNG Terminal |
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Natural
Gas Pipeline
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LNG & Natural Gas Marketing |
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Corporate and Other (1) |
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Total
Consolidation
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As of or for the Year Ended December 31, 2011 |
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Revenues |
$ |
274,272 |
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$ |
50 |
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$ |
13,554 |
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$ |
2,568 |
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$ |
290,444 |
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Intersegment revenues (losses) (2) (3) |
14,607 |
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48 |
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(13,731 |
) |
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(924 |
) |
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— |
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Depreciation, depletion and amortization |
43,421 |
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16,641 |
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1,105 |
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2,238 |
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63,405 |
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Non-cash compensation |
2,096 |
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550 |
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9,258 |
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14,460 |
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26,364 |
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Income (loss) from operations |
143,615 |
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(24,278 |
) |
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(28,380 |
) |
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(32,811 |
) |
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58,146 |
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Interest expense, net |
(173,590 |
) |
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(45,733 |
) |
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— |
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(40,070 |
) |
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(259,393 |
) |
Goodwill |
76,819 |
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— |
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— |
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— |
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76,819 |
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Total assets |
1,875,613 |
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537,671 |
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67,792 |
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434,249 |
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2,915,325 |
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Expenditures for additions to long-lived assets |
9,617 |
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258 |
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16 |
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|
732 |
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$ |
10,623 |
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Segments |
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LNG Terminal |
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Natural
Gas Pipeline
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|
LNG & Natural Gas Marketing |
|
Corporate and Other (1) |
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Total
Consolidation
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As of or for the Year Ended December 31, 2010 |
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Revenues |
269,538 |
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95 |
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19,022 |
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2,858 |
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291,513 |
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Intersegment revenues (losses) (4) (5) (6) (7) |
130,954 |
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255 |
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(129,137 |
) |
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(2,072 |
) |
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— |
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Depreciation, depletion and amortization |
42,683 |
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15,063 |
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1,087 |
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4,418 |
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63,251 |
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Non-cash compensation |
1,764 |
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553 |
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5,791 |
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9,770 |
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17,878 |
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Income (loss) from operations |
273,810 |
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(22,014 |
) |
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(131,891 |
) |
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(15,282 |
) |
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104,623 |
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Interest expense, net |
(199,405 |
) |
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(45,228 |
) |
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— |
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(17,413 |
) |
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(262,046 |
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Goodwill |
76,819 |
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— |
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— |
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— |
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76,819 |
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Total assets |
1,899,130 |
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554,049 |
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96,781 |
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3,548 |
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2,553,508 |
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Expenditures for additions to long-lived assets |
4,528 |
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55 |
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(349 |
) |
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1,543 |
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5,777 |
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As of or for the Year Ended December 31, 2009 |
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Revenues |
170,071 |
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|
102 |
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8,087 |
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2,866 |
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181,126 |
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Intersegment revenues (losses) (4) (5) (6) (7) |
252,928 |
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932 |
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(249,196 |
) |
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(4,664 |
) |
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— |
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Depreciation, depletion and amortization |
33,203 |
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14,731 |
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1,505 |
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4,790 |
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54,229 |
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Non-cash compensation |
1,300 |
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583 |
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5,661 |
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11,652 |
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19,196 |
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Loss from operations |
333,710 |
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(21,453 |
) |
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(260,514 |
) |
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(28,247 |
) |
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23,496 |
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Interest expense, net |
(157,057 |
) |
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(44,912 |
) |
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— |
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(41,326 |
) |
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(243,295 |
) |
Goodwill |
76,819 |
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— |
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— |
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— |
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76,819 |
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Total assets |
2,013,618 |
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569,626 |
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147,164 |
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2,214 |
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2,732,622 |
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Expenditures for additions to long-lived assets |
106,628 |
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(4,376 |
) |
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1,081 |
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(539 |
) |
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102,794 |
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(1) |
Includes corporate activities, oil and gas exploration, development and exploitation activities and certain intercompany eliminations. Our oil and gas exploration, development and exploitation operating activities have been included in the corporate and other column due to the lack of a material impact that these activities have on our consolidated financial statements. |
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(2) |
Intersegment revenues related to our LNG terminal segment are primarily from tug revenues from Cheniere Marketing and the receipt of 80% of gross margins earned by Cheniere Marketing in monetizing the TUA capacity of Cheniere Energy Investments, LLC ("Cheniere Investments") at the Sabine Pass LNG terminal in the year ended December 31, 2011. These LNG terminal segment intersegment revenues are eliminated with intersegment expenses in our Consolidated Statements of Operations.
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(3) |
Intersegment losses related to our LNG and natural gas marketing segment are primarily from Cheniere Marketing's tug costs and the payment of 80% of gross margins earned by Cheniere Marketing in monetizing the TUA capacity of Cheniere Investments at the Sabine Pass LNG terminal in the year ended December 31, 2011. These LNG terminal segment intersegment costs are eliminated with intersegment revenues in our Consolidated Statements of Operations.
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(4) |
Intersegment revenues related to our LNG terminal segment are primarily from TUA capacity reservation fee revenues and tug revenues of $125.5 million and $250.2 million that were received from our LNG and natural gas marketing segment for the years ended December 31, 2010 and 2009, respectively. These LNG terminal segment intersegment revenues are eliminated with intersegment expenses in our Consolidated Statements of Operations.
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(5) |
Intersegment revenues related to our natural gas pipeline segment are primarily from transportation fees charged by our natural gas pipeline segment to our LNG terminal and LNG and natural gas marketing segments to transport natural gas that was regasified at the Sabine Pass LNG terminal. These natural gas pipeline segment intersegment revenues are eliminated with intersegment expenses in our Consolidated Statements of Operations. |
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(6) |
Intersegment losses related to our LNG and natural gas marketing segment are primarily from TUA capacity reservation fee expenses and tug costs of $125.5 million and $250.2 million that were incurred from our LNG terminal segment for the years ended December 31, 2010 and 2009, respectively. These costs and expenses are classified as marketing trading gains (losses) as they are considered capacity contracts related to our energy trading and risk management activities. These LNG and natural gas marketing segment intersegment costs and expenses are eliminated with intersegment revenues in our Consolidated Statements of Operations.
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(7) |
Intersegment losses related to corporate and other are from various transactions between our LNG terminal, natural gas pipeline and LNG and natural gas marketing segments in which revenue recorded by one operating segment is eliminated with a non-revenue line item (i.e., operating expense or is capitalized) by the other operating segment. |
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