Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.25.2
Property, Plant and Equipment, Net of Accumulated Depreciation
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net of Accumulated Depreciation PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION
 
Property, plant and equipment, net of accumulated depreciation consisted of the following (in millions):
June 30, December 31,
2025 2024
Terminal and related assets    
Terminal and interconnecting pipeline facilities $ 35,566  $ 34,282 
Land 572  465 
Construction-in-process 5,523  5,486 
Accumulated depreciation (7,815) (7,231)
Total terminal and related assets, net of accumulated depreciation 33,846  33,002 
Fixed assets and other    
Computer and office equipment 38  36 
Furniture and fixtures 33  31 
Computer software 123  122 
Leasehold improvements 47  47 
Other 24  24 
Accumulated depreciation (195) (188)
Total fixed assets and other, net of accumulated depreciation 70  72 
Assets under finance leases
Marine assets 1,060  587 
Accumulated depreciation (147) (109)
Total assets under finance leases, net of accumulated depreciation 913  478 
Property, plant and equipment, net of accumulated depreciation $ 34,829  $ 33,552 
The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Depreciation expense $ 327  $ 303  $ 636  $ 603 
Offsets to LNG terminal costs (1) 7  —  55  — 
(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.