Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.0.1
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 15,864 $ 9,358 $ 9,730
Revenues from contracts with customers 17,531 9,293 9,157
Operating costs and expenses      
Cost of sales (excluding items shown separately below) 13,773 4,161 5,079
Operating and maintenance expense 1,444 1,320 1,154
Development expense 7 6 9
Selling, general and administrative expense 325 302 310
Depreciation and amortization expense 1,011 932 794
Impairment expense and loss on disposal of assets 5 6 23
Total operating costs and expenses 16,565 6,727 7,369
Income (loss) from operations (701) 2,631 2,361
Other expense      
Interest expense, net of capitalized interest (1,438) (1,525) (1,432)
Loss on modification or extinguishment of debt (116) (217) (55)
Interest rate derivative loss, net (1) (233) (134)
Other expense, net (22) (112) (25)
Total other expense (1,577) (2,087) (1,646)
Income (loss) before income taxes and non-controlling interest (2,278) 544 715
Less: income tax provision (benefit) (713) 43 (517)
Net income (loss) (1,565) 501 1,232
Less: net income attributable to non-controlling interest 778 586 584
Net income (loss) attributable to common stockholders $ (2,343) $ (85) $ 648
Net income (loss) per share attributable to common stockholders—basic $ (9.25) $ (0.34) $ 2.53
Net income (loss) per share attributable to common stockholders—diluted $ (9.25) $ (0.34) $ 2.51
Weighted average number of common shares outstanding—basic 253.4 252.4 256.2
Weighted average number of common shares outstanding—diluted 253.4 252.4 258.1
LNG [Member]      
Revenues      
Revenues $ 15,395 $ 8,924 $ 9,246
Revenues from contracts with customers [1] 17,171 8,954 8,817
Regasification [Member]      
Revenues      
Revenues from contracts with customers 269 269 266
Other [Member]      
Revenues      
Revenues 200 165 218
Revenues from contracts with customers $ 91 $ 70 $ 74
[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 during the year ended December 31, 2021 had the cargoes been lifted pursuant to the delivery schedules with the customers. We did not have revenues associated with LNG cargoes for which customers notified us that they would not take delivery during the years ended December 31, 2021 and 2019. 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.