| Schedule of Segment Reporting Information, by Segment |
The following table (in thousands) summarizes revenues (losses) and income (loss) from operations for each of our reporting segments:
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Segments |
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LNG Terminal |
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LNG & Natural Gas Marketing |
|
Corporate and Other (1) |
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Total
Consolidation
|
Three Months Ended September 30, 2016 |
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|
Revenues (losses) from external customers |
$ |
314,917 |
|
|
$ |
179,188 |
|
|
$ |
(28,432 |
) |
|
$ |
465,673 |
|
Intersegment revenues (losses) (2) |
16,244 |
|
|
8,692 |
|
|
(24,936 |
) |
|
— |
|
Depreciation and amortization expense |
43,014 |
|
|
344 |
|
|
5,854 |
|
|
49,212 |
|
Income (loss) from operations (3) |
44,346 |
|
|
26,614 |
|
|
(55,684 |
) |
|
15,276 |
|
Interest expense, net of capitalized interest |
(121,636 |
) |
|
— |
|
|
(26,417 |
) |
|
(148,053 |
) |
Income (loss) before income taxes and non-controlling interest (4) |
(68,345 |
) |
|
26,736 |
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|
(87,169 |
) |
|
(128,778 |
) |
Share-based compensation |
9,183 |
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|
5,434 |
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|
24,940 |
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|
39,557 |
|
Expenditures for additions to long-lived assets |
1,213,662 |
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|
1,103 |
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|
170 |
|
|
1,214,935 |
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Three Months Ended September 30, 2015 |
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Revenues (losses) from external customers |
$ |
67,212 |
|
|
$ |
(1,557 |
) |
|
$ |
404 |
|
|
$ |
66,059 |
|
Intersegment revenues (losses) (2) |
233 |
|
|
11,354 |
|
|
(11,587 |
) |
|
— |
|
Depreciation and amortization expense |
16,775 |
|
|
320 |
|
|
4,543 |
|
|
21,638 |
|
Income (loss) from operations |
27,072 |
|
|
(27,117 |
) |
|
(52,029 |
) |
|
(52,074 |
) |
Interest expense, net of capitalized interest |
(67,589 |
) |
|
(14 |
) |
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(25,963 |
) |
|
(93,566 |
) |
Loss before income taxes and non-controlling interest (4) |
(196,693 |
) |
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(27,665 |
) |
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(82,803 |
) |
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(307,161 |
) |
Share-based compensation |
1,316 |
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|
2,051 |
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|
24,084 |
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|
27,451 |
|
Expenditures for additions to long-lived assets |
1,429,808 |
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|
403 |
|
|
21,258 |
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1,451,469 |
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Nine Months Ended September 30, 2016 |
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Revenues (losses) from external customers |
$ |
530,526 |
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|
$ |
222,418 |
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|
$ |
(41,363 |
) |
|
$ |
711,581 |
|
Intersegment revenues (losses) (2) |
17,168 |
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|
29,259 |
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|
(46,427 |
) |
|
— |
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Depreciation and amortization expense |
87,698 |
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|
965 |
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|
17,419 |
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|
106,082 |
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Income (loss) from operations (3) |
41,912 |
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|
(35,850 |
) |
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(157,799 |
) |
|
(151,737 |
) |
Interest expense, net of capitalized interest |
(253,129 |
) |
|
— |
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|
(77,228 |
) |
|
(330,357 |
) |
Loss before income taxes and non-controlling interest (4) |
(519,877 |
) |
|
(35,814 |
) |
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(256,732 |
) |
|
(812,423 |
) |
Share-based compensation |
19,005 |
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|
20,580 |
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|
58,032 |
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|
97,617 |
|
Expenditures for additions to long-lived assets |
3,800,814 |
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|
2,634 |
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|
13,238 |
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3,816,686 |
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Nine Months Ended September 30, 2015 |
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Revenues (losses) from external customers |
$ |
203,324 |
|
|
$ |
(1,601 |
) |
|
$ |
730 |
|
|
$ |
202,453 |
|
Intersegment revenues (losses) (2) |
827 |
|
|
24,725 |
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|
(25,552 |
) |
|
— |
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Depreciation and amortization expense |
47,787 |
|
|
764 |
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|
11,010 |
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|
59,561 |
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Loss from operations |
(15,324 |
) |
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(58,667 |
) |
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(134,201 |
) |
|
(208,192 |
) |
Interest expense, net of capitalized interest |
(169,899 |
) |
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(14 |
) |
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(68,751 |
) |
|
(238,664 |
) |
Loss before income taxes and non-controlling interest (4) |
(507,751 |
) |
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(59,871 |
) |
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(217,014 |
) |
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(784,636 |
) |
Share-based compensation |
30,233 |
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|
12,138 |
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|
71,736 |
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|
114,107 |
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Expenditures for additions to long-lived assets |
5,964,244 |
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|
2,517 |
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|
70,913 |
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|
6,037,674 |
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(1) |
Includes corporate activities, business development, strategic activities and certain intercompany eliminations. These activities have been included in the corporate and other column. Also includes $45.1 million and $60.5 million for the three and nine months ended September 30, 2016, respectively, of Cheniere Marketing’s LNG revenues, which is eliminated in consolidation.
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(2) |
Intersegment revenues (losses) related to our LNG and natural gas marketing segment are primarily a result of international revenue allocations using a cost plus transfer pricing methodology. These LNG and natural gas marketing segment intersegment revenues (losses) are eliminated with intersegment revenues (losses) in our Consolidated Statements of Operations.
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(3) |
Includes restructuring expense of $23.1 million and $35.3 million for the three and nine months ended September 30, 2016, respectively, in the corporate and other column and $3.1 million and $13.9 million for the three and nine months ended September 30, 2016, respectively, in the LNG and natural gas marketing segment.
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(4) |
Items to reconcile income (loss) from operations and income (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.
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The following table (in thousands) shows total assets for each of our reporting segments:
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September 30, |
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December 31, |
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2016 |
|
2015 |
LNG Terminal |
|
$ |
21,365,364 |
|
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$ |
17,363,750 |
|
LNG & Natural Gas Marketing |
|
631,378 |
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|
550,896 |
|
Corporate and Other |
|
692,338 |
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|
894,407 |
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Total Consolidation |
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$ |
22,689,080 |
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$ |
18,809,053 |
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