Quarterly report [Sections 13 or 15(d)]

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

v3.25.1
Property, Plant and Equipment, Net of Accumulated Depreciation (Tables)
 3 Months Ended
Mar. 31, 2025
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):
March 31, December 31,
2025 2024
Terminal and related assets    
Terminal and interconnecting pipeline facilities $ 35,478  $ 34,282 
Land 568  465 
Construction-in-process 4,880  5,486 
Accumulated depreciation (7,522) (7,231)
Total terminal and related assets, net of accumulated depreciation 33,404  33,002 
Fixed assets and other    
Computer and office equipment 37  36 
Furniture and fixtures 32  31 
Computer software 123  122 
Leasehold improvements 49  47 
Other 23  24 
Accumulated depreciation (192) (188)
Total fixed assets and other, net of accumulated depreciation 72  72 
Assets under finance leases
Marine assets 824  587 
Accumulated depreciation (123) (109)
Total assets under finance leases, net of accumulated depreciation 701  478 
Property, plant and equipment, net of accumulated depreciation $ 34,177  $ 33,552 
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 March 31,
2025 2024
Depreciation expense $ 310  $ 300 
Offsets to LNG terminal costs (1) 48  — 
(1)We recognize offsets to LNG terminal costs related to the sale of commissioning volumes 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.