Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, Net of Accumulated Depreciation

v3.26.3
Property, Plant and Equipment, Net of Accumulated Depreciation
 9 Months Ended
Sep. 30, 2026
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,
2026 2025
Terminal and related assets
Terminal and interconnecting pipeline facilities $ 41,313  $ 38,422 
Land 1,001  745 
Construction-in-process 3,243  4,096 
Accumulated depreciation (9,450) (8,434)
Total terminal and related assets, net of accumulated depreciation 36,107  34,829 
Assets under finance leases
Marine assets 1,605  1,060 
Accumulated depreciation (309) (199)
Total assets under finance leases, net of accumulated depreciation 1,296  861 
Other assets
Other assets 273  260 
Accumulated depreciation (207) (195)
Total other assets, net of accumulated depreciation 66  65 
Property, plant and equipment, net of accumulated depreciation $ 37,469  $ 35,755 

The following table shows depreciation expense and offsets to terminal assets (in millions):
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Depreciation expense $ 391  $ 337  $ 1,140  $ 973 
Sales proceeds earned from commissioning sales of LNG offset to terminal assets(1)
28  47  106  102 
(1)We realize offsets to terminal assets for sales proceeds from commissioning volumes that were earned or loaded prior to the start of commercial operations of the respective Train during the testing phase for its construction.