Quarterly report [Sections 13 or 15(d)]

Non-Controlling Interest and Variable Interest Entities

v3.25.3
Non-Controlling Interest and Variable Interest Entities
 9 Months Ended
Sep. 30, 2025
Noncontrolling Interest and Variable Interest Entity [Abstract]  
Non-Controlling Interest and Variable Interest Entities NON-CONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES
Substantially all of our consolidated VIEs’ assets and liabilities relate to CQP. We own a 48.6% limited partner interest in CQP, and we also own all of the 2% general partner interest and 100% of the incentive distribution rights in CQP. The remaining 49.4% non-controlling limited partner interest in CQP is held by affiliates of Blackstone Inc. and Brookfield Asset Management, Inc. as well as the public.
The following table presents the summarized consolidated assets and liabilities (in millions) of our consolidated VIEs, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of the respective VIEs. In addition, there is no recourse to us for the consolidated VIEs’ liabilities. The assets and liabilities in the table below exclude intercompany balances between the respective VIEs and Cheniere that eliminate in our Consolidated Financial Statements.
September 30, December 31,
2025 2024
ASSETS  
Current assets    
Cash and cash equivalents $ 121  $ 270 
Restricted cash and cash equivalents 61  125 
Trade and other receivables, net of current expected credit losses 360  381 
Inventory 152  154 
Current derivative assets 15  84 
Margin deposits 14  13 
Other current assets, net 61  54 
Total current assets 784  1,081 
Property, plant and equipment, net of accumulated depreciation 15,532  15,880 
Operating lease assets 79  80 
Derivative assets 14  98 
Other non-current assets, net 282  206 
Total assets $ 16,691  $ 17,345 
LIABILITIES    
Current liabilities    
Accounts payable $ 73  $ 70 
Accrued liabilities 701  881 
Current debt, net of unamortized discount and debt issuance costs 605  351 
Deferred revenue 148  120 
Current operating lease liabilities 5  4 
Current derivative liabilities 139  250 
Other current liabilities 8  16 
Total current liabilities 1,679  1,692 
Long-term debt, net of unamortized discount and debt issuance costs 14,156  14,761 
Operating lease liabilities 74  76 
Derivative liabilities 1,069  1,213 
Other non-current liabilities 163  176 
Total liabilities $ 17,141  $ 17,918