Annual report pursuant to Section 13 and 15(d)

Revenues (Tables)

v3.22.4
Revenues (Tables)
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table represents a disaggregation of revenue earned (in millions):
Year Ended December 31,
2022 2021 2020
Revenues from contracts with customers
LNG revenues (1) $ 32,132  $ 17,171  $ 8,954 
Regasification revenues 1,068  269  269 
     Other revenues 107  91  70 
Total revenues from contracts with customers 33,307  17,531  9,293 
Net derivative loss (2) (328) (1,776) (30)
Other (3) 449  109  95 
Total revenues $ 33,428  $ 15,864  $ 9,358 
(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, 2022 and 2021. 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.
(2)See Note 7—Derivative Instruments for additional information about our derivatives.
(3)Includes revenues from LNG vessel subcharters. See Note 12—Leases for additional information about our subleases.
Contract Assets
The following table shows our contract assets, net of current expected credit losses, which are classified as other current assets and other non-current assets, net on our Consolidated Balance Sheets (in millions):
December 31,
2022 2021
Contract assets, net of current expected credit losses $ 186  $ 140 
Contract Liabilities
The following table reflects the changes in our contract liabilities, which we classify as deferred revenue and other non-current liabilities on our Consolidated Balance Sheets (in millions):
Year Ended December 31, 2022
Deferred revenue, beginning of period $ 194 
Cash received but not yet recognized in revenue 320 
Revenue recognized from prior period deferral (194)
Deferred revenue, end of period $ 320 
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:
December 31, 2022 December 31, 2021
Unsatisfied Transaction Price (in billions) Weighted Average Recognition Timing (years) (1) Unsatisfied Transaction Price (in billions) Weighted Average Recognition Timing (years) (1)
LNG revenues $ 112.0  9 $ 107.1  9
Regasification revenues 0.8  4 1.9  4
Total revenues $ 112.8  $ 109.0 
(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.