Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenues $ 9,358 $ 9,730 $ 7,987
Revenues from contracts with customers 9,293 9,157 7,896
Operating costs and expenses      
Cost of sales (excluding items shown separately below) 4,161 5,079 4,597
Operating and maintenance expense 1,320 1,154 613
Development expense 6 9 7
Selling, general and administrative expense 302 310 289
Depreciation and amortization expense 932 794 449
Impairment expense and loss on disposal of assets 6 23 8
Total operating costs and expenses 6,727 7,369 5,963
Income from operations 2,631 2,361 2,024
Other income (expense)      
Interest expense, net of capitalized interest (1,525) (1,432) (875)
Loss on modification or extinguishment of debt (217) (55) (27)
Interest rate derivative gain (loss), net (233) (134) 57
Other income (expense), net (112) (25) 48
Total other expense (2,087) (1,646) (797)
Income before income taxes and non-controlling interest 544 715 1,227
Income tax benefit (provision) (43) 517 (27)
Net income 501 1,232 1,200
Less: net income attributable to non-controlling interest 586 584 729
Net income (loss) attributable to common stockholders $ (85) $ 648 $ 471
Net income (loss) per share attributable to common stockholders—basic $ (0.34) $ 2.53 $ 1.92
Diluted net income (loss) per share attributable to common stockholders $ (0.34) $ 2.51 $ 1.90
Weighted average number of common shares outstanding—basic 252.4 256.2 245.6
Weighted average number of common shares outstanding—diluted 252.4 258.1 248.0
LNG [Member]      
Revenues      
Revenues $ 8,924 $ 9,246 $ 7,572
Revenues from contracts with customers [1] 8,954 8,817 7,581
Regasification [Member]      
Revenues      
Revenues from contracts with customers 269 266 261
Other [Member]      
Revenues      
Revenues 165 218 154
Revenues from contracts with customers $ 70 $ 74 $ 54
[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. During the year ended December 31, 2020, we recognized $969 million in LNG revenues associated with LNG cargoes for which customers notified us that they would not take delivery, of which $38 million would have been recognized subsequent to December 31, 2020, if the cargoes were lifted pursuant to the delivery schedules with the customers. Revenue is generally recognized upon receipt of irrevocable notice that a customer will not take delivery because our customers have no contractual right to take delivery of such LNG cargo in future periods and our performance obligations with respect to such LNG cargo have been satisfied.