Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.25.3
Property, Plant and Equipment, Net of Accumulated Depreciation
 9 Months Ended
Sep. 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):
September 30, December 31,
2025 2024
Terminal and related assets    
Terminal and interconnecting pipeline facilities $ 36,492  $ 34,282 
Land 618  465 
Construction-in-process 5,396  5,486 
Accumulated depreciation (8,115) (7,231)
Total terminal and related assets, net of accumulated depreciation 34,391  33,002 
Fixed assets and other    
Computer and office equipment 39  36 
Furniture and fixtures 33  31 
Computer software 124  122 
Leasehold improvements 47  47 
Other 24  24 
Accumulated depreciation (200) (188)
Total fixed assets and other, net of accumulated depreciation 67  72 
Assets under finance leases
Marine assets 1,060  587 
Accumulated depreciation (173) (109)
Total assets under finance leases, net of accumulated depreciation 887  478 
Property, plant and equipment, net of accumulated depreciation $ 35,345  $ 33,552 
The following table shows depreciation expense and offsets to LNG terminal costs (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
Depreciation expense $ 337  $ 304  $ 973  $ 907 
Offsets to LNG terminal costs (1) 47  —  102  — 
(1)We recognized 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 CCL Project and the SPL Project (collectively, the “Liquefaction Projects”) during the testing phase for its construction.