Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments - Schedule of Level 3 Derivatives Activity (Details)

v3.23.2
Derivative Instruments - Schedule of Level 3 Derivatives Activity (Details) - Physical Liquefaction Supply Derivatives and Physical LNG Trading Derivative - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Fair Value, Assets (Liabilities) Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period $ (5,426) $ (7,423) $ (9,924) $ (4,036)
Realized and change in fair value gains (losses) included in net income:        
Included in cost of sales, existing deals [1],[2] 635 (1,407) 4,518 (4,482)
Included in cost of sales, new deals [1],[3] 3 0 9 0
Purchases and settlements:        
Purchases [4] 0 90 0 (242)
Settlements [5] 175 278 780 298
Transfers out of level 3 [6] 2 0 6 0
Balance, end of period (4,611) (8,462) (4,611) (8,462)
Favorable (unfavorable) changes in fair value relating to instruments still held at the end of the period $ 638 $ (1,407) $ 4,527 $ (4,482)
[1] Does not include the realized value associated with derivative instruments that settle through physical delivery, as settlement is equal to contractually fixed price from trade date multiplied by contractual volume.  See settlements line item in this table.
[2] Impact to earnings on deals that existed at the beginning of the period and continue to exist at the end of the period.
[3] Impact to earnings on deals that were entered into during the reporting period and continue to exist at the end of the period.
[4] Includes any day one gain (loss) recognized during the reporting period on deals that were entered into during the reporting period which continue to exist at the end of the period, in addition to any derivative contracts acquired from entities at a value other than zero on acquisition date, such as derivatives assigned or novated during the reporting period and continuing to exist at the end of the period.
[5] Roll-off in the current period of amounts recognized in our Consolidated Balance Sheets at the end of the previous period due to settlement of the underlying instruments in the current period.
[6] Transferred out of Level 3 as a result of observable market for the underlying natural gas purchase agreements.