Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues      
LNG terminal revenues $ 265,406 $ 265,894 $ 274,272
Marketing and trading revenues 242 (1,172) 13,554
Other 1,565 1,498 2,618
Total revenues 267,213 [1] 266,220 290,444
Operating costs and expenses      
General and administrative expense 384,512 152,081 88,427
Depreciation, depletion and amortization 61,209 66,407 63,405
LNG terminal operating expense 89,169 57,076 39,101
LNG terminal development expense 60,934 66,112 40,803
Other 375 376 562
Total operating costs and expenses 596,199 342,052 232,298
Income (loss) from operations (328,986) (75,832) 58,146
Other income (expense)      
Interest expense, net (178,400) (200,811) (259,393)
Loss on early extinguishment of debt (131,576) (57,685) 0
Derivative gain (loss) 83,448 58 (2,251)
Other income (expense) 1,091 (11,367) 320
Total other expense (225,437) (269,805) (261,324)
Loss before income taxes and non-controlling interest (554,423) [2] (345,637) [2] (203,178) [2]
Income tax provision (4,340) (4) (160)
Net loss (558,763) (345,641) (203,338)
Non-controlling interest (50,841) (12,861) (4,582)
Net loss attributable to common stockholders $ (507,922) $ (332,780) $ (198,756)
Net loss per share attributable to common stockholders - basic and diluted $ (2.32) $ (1.83) $ (2.60)
Weighted average number of common shares outstanding - basic and diluted 218,869 181,768 76,483
[1] Substantially all of the LNG terminal revenues relate to regasification capacity reservation fee payments made by Total and Chevron. LNG and natural gas marketing and trading revenue consists primarily of the domestic marketing of natural gas imported into the Sabine Pass LNG terminal and international revenue allocations using a cost plus transfer pricing methodology.
[2] Items to reconcile loss from operations and income (loss) before income taxes and non-controlling interest include consolidated other income (expense) amounts as presented on the statement of operations primarily related to our LNG terminal segment and intercompany debt extinguishments that are eliminated in consolidation.