Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest and Variable Interest Entity

v3.23.1
Non-Controlling Interest and Variable Interest Entity
 3 Months Ended
Mar. 31, 2023
Noncontrolling Interest and Variable Interest Entity [Abstract]  
Non-Controlling Interest and Variable Interest Entity NON-CONTROLLING INTEREST AND VARIABLE INTEREST ENTITY CQP is accounted for as a consolidated VIE. We own a 48.6% limited partner interest in CQP in the form of 239.9 million common units, with the remaining non-controlling limited partner interest held by Blackstone Inc., Brookfield Asset Management Inc. and the public. We also own 100% of the general partner interest and the incentive distribution rights in CQP.
The following table presents the summarized assets and liabilities (in millions) of CQP, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of CQP. In addition, there is no recourse to us for the consolidated VIE’s liabilities. The assets and liabilities in the table below include third party assets and liabilities of CQP only and exclude intercompany balances between CQP and Cheniere that eliminate in the Consolidated Financial Statements of Cheniere.
March 31, December 31,
2023 2022
ASSETS  
Current assets    
Cash and cash equivalents $ 834  $ 904 
Restricted cash and cash equivalents 160  92 
Trade and other receivables, net of current expected credit losses 269  627 
Other current assets 249  269 
Total current assets 1,512  1,892 
Property, plant and equipment, net of accumulated depreciation 16,587  16,725 
Other non-current assets, net 297  288 
Total assets $ 18,396  $ 18,905 
LIABILITIES    
Current liabilities    
Accrued liabilities $ 679  $ 1,384 
Current debt, net of discount and debt issuance costs 60  — 
Current derivative liabilities 400  769 
Other current liabilities 177  191 
Total current liabilities 1,316  2,344 
Long-term debt, net of premium, discount and debt issuance costs 16,145  16,198 
Derivative liabilities 2,157  3,024 
Other non-current liabilities 95  98 
Total liabilities $ 19,713  $ 21,664