Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)

v3.23.3
Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
September 30, December 31,
2023 2022
LNG terminal    
Terminal and interconnecting pipeline facilities $ 33,881  $ 33,815 
Site and related costs 461  451 
Construction-in-process 2,981  1,685 
Accumulated depreciation (5,821) (4,985)
Total LNG terminal, net of accumulated depreciation 31,502  30,966 
Fixed assets and other    
Computer and office equipment 36  33 
Furniture and fixtures 20  20 
Computer software 125  121 
Leasehold improvements 69  48 
Other 21  20 
Accumulated depreciation (202) (191)
Total fixed assets and other, net of accumulated depreciation 69  51 
Assets under finance leases
Marine assets 532  533 
Accumulated depreciation (50) (22)
Total assets under finance leases, net of accumulated depreciation 482  511 
Property, plant and equipment, net of accumulated depreciation $ 32,053  $ 31,528 
Schedule of Depreciation and Offsets to LNG Terminal Costs
The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Depreciation expense $ 296  $ 278  $ 887  $ 822 
Offsets to LNG terminal costs (1) —  —  —  204 
(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.