Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.1
Property, Plant and Equipment
3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
 
As of March 31, 2021 and December 31, 2020, property, plant and equipment, net consisted of the following (in millions):
March 31, December 31,
2021 2020
LNG terminal costs    
LNG terminal and interconnecting pipeline facilities $ 30,560  $ 27,475 
LNG site and related costs 324  324 
LNG terminal construction-in-process 2,511  5,378 
Accumulated depreciation (3,161) (2,935)
Total LNG terminal costs, net 30,234  30,242 
Fixed assets and other    
Computer and office equipment 25  25 
Furniture and fixtures 20  19 
Computer software 119  117 
Leasehold improvements 45  45 
Land 59  59 
Other 25  25 
Accumulated depreciation (170) (164)
Total fixed assets and other, net 123  126 
Assets under finance lease
Tug vessels 60  60 
Accumulated depreciation (8) (7)
Total assets under finance lease, net 52  53 
Property, plant and equipment, net $ 30,409  $ 30,421 

The following table shows depreciation expense and offsets to LNG terminal costs during the three months ended March 31, 2021 and 2020 (in millions):
Three Months Ended March 31,
2021 2020
Depreciation expense $ 234  $ 232 
Offsets to LNG terminal costs (1) 191  — 
(1)    We recognize offsets to LNG terminal costs related to the sale of commissioning cargoes because these amounts were earned or loaded prior to the start of commercial operations of the respective Trains of the Liquefaction Projects during the testing phase for its construction.