Income Taxes |
6 Months Ended |
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Jun. 30, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | INCOME TAXESWe recorded an income tax benefit of $93 million and $4 million during the three and six months ended June 30, 2021, respectively, and an income tax provision of $63 million and $194 million during the three and six months ended June 30, 2020, respectively. The effective tax rates for the three and six months ended June 30, 2021 were 41.5% and (0.9)%, respectively, and do not bear a customary relationship to statutory income tax rates due to a combination of factors including income allocated to non-controlling interest that is not taxable to Cheniere and a $58 million discrete tax benefit related to releasing a portion of our valuation allowance caused by a change in tax law allowing for indefinite Louisiana net operating loss (“NOL”) carryover. The effective tax rates for the three and six months ended June 30, 2020 were 13.5% and 16.2%, respectively, which were lower than the 21% federal statutory tax rate primarily due to income allocated to non-controlling interest that is not taxable to Cheniere, partially offset by a $38 million discrete tax expense related to an internal restructuring. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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