Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.1.9
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues      
LNG terminal revenues $ 267,606lng_LngTerminalRevenues $ 265,406lng_LngTerminalRevenues $ 265,894lng_LngTerminalRevenues
Marketing and trading revenues (losses) (1,286)us-gaap_SalesRevenueFromEnergyCommoditiesAndServices 242us-gaap_SalesRevenueFromEnergyCommoditiesAndServices (1,172)us-gaap_SalesRevenueFromEnergyCommoditiesAndServices
Other 1,634us-gaap_OtherSalesRevenueNet 1,565us-gaap_OtherSalesRevenueNet 1,498us-gaap_OtherSalesRevenueNet
Total revenues 267,954us-gaap_Revenues [1] 267,213us-gaap_Revenues [1] 266,220us-gaap_Revenues [1]
Operating costs and expenses      
General and administrative expense 323,709us-gaap_GeneralAndAdministrativeExpense 384,512us-gaap_GeneralAndAdministrativeExpense 152,081us-gaap_GeneralAndAdministrativeExpense
Operating and maintenance expense 85,792us-gaap_OperatingCostsAndExpenses 89,169us-gaap_OperatingCostsAndExpenses 57,076us-gaap_OperatingCostsAndExpenses
Depreciation expense 64,258us-gaap_Depreciation 61,209us-gaap_Depreciation 66,407us-gaap_Depreciation
Development expense 54,376us-gaap_ResearchAndDevelopmentExpense 60,934us-gaap_ResearchAndDevelopmentExpense 66,112us-gaap_ResearchAndDevelopmentExpense
Other 13,387us-gaap_OtherCostAndExpenseOperating 375us-gaap_OtherCostAndExpenseOperating 376us-gaap_OtherCostAndExpenseOperating
Total operating costs and expenses 541,522us-gaap_OperatingExpenses 596,199us-gaap_OperatingExpenses 342,052us-gaap_OperatingExpenses
Loss from operations (273,568)us-gaap_OperatingIncomeLoss (328,986)us-gaap_OperatingIncomeLoss (75,832)us-gaap_OperatingIncomeLoss
Other income (expense)      
Interest expense, net (181,236)us-gaap_InterestExpense (178,400)us-gaap_InterestExpense (200,811)us-gaap_InterestExpense
Loss on early extinguishment of debt (114,335)us-gaap_GainsLossesOnExtinguishmentOfDebt (131,576)us-gaap_GainsLossesOnExtinguishmentOfDebt (57,685)us-gaap_GainsLossesOnExtinguishmentOfDebt
Derivative gain (loss), net (118,012)us-gaap_GainLossOnDerivativeInstrumentsNetPretax 83,448us-gaap_GainLossOnDerivativeInstrumentsNetPretax 58us-gaap_GainLossOnDerivativeInstrumentsNetPretax
Other income (expense) (583)us-gaap_OtherNonoperatingIncomeExpense 1,091us-gaap_OtherNonoperatingIncomeExpense (11,367)us-gaap_OtherNonoperatingIncomeExpense
Total other expense (414,166)us-gaap_NonoperatingIncomeExpense (225,437)us-gaap_NonoperatingIncomeExpense (269,805)us-gaap_NonoperatingIncomeExpense
Loss before income taxes and non-controlling interest (687,734)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2] (554,423)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2] (345,637)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2]
Income tax provision (4,143)us-gaap_IncomeTaxExpenseBenefit (4,340)us-gaap_IncomeTaxExpenseBenefit (4)us-gaap_IncomeTaxExpenseBenefit
Net loss (691,877)us-gaap_ProfitLoss (558,763)us-gaap_ProfitLoss (345,641)us-gaap_ProfitLoss
Less: net loss attributable to non-controlling interest (143,945)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (50,841)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (12,861)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net loss attributable to common stockholders $ (547,932)us-gaap_NetIncomeLoss $ (507,922)us-gaap_NetIncomeLoss $ (332,780)us-gaap_NetIncomeLoss
Net loss per share attributable to common stockholders—basic and diluted $ (2.44)us-gaap_EarningsPerShareBasicAndDiluted $ (2.32)us-gaap_EarningsPerShareBasicAndDiluted $ (1.83)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average number of common shares outstanding—basic and diluted 224,338us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 218,869us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 181,768us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
[1] Substantially all of the LNG terminal revenues relate to regasification capacity reservation fee payments made by Total Gas & Power North America, Inc. and Chevron U.S.A. Inc. LNG and natural gas marketing and trading revenue consists primarily of the domestic marketing of natural gas imported into the Sabine Pass LNG terminal.
[2] Items to reconcile loss from operations and loss before income taxes and non-controlling interest include consolidated other income (expense) amounts as presented on our Consolidated Statements of Operations primarily related to our LNG terminal segment.