Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest and Variable Interest Entity

Non-Controlling Interest and Variable Interest Entity
3 Months Ended
Mar. 31, 2022
Noncontrolling Interest and Variable Interest Entity [Abstract]  
Non-Controlling Interest and Variable Interest Entity NON-CONTROLLING INTEREST AND VARIABLE INTEREST ENTITY We own a 48.6% limited partner interest in CQP in the form of 239.9 million common units, with the remaining non-controlling limited partner interest held by Blackstone Inc., Brookfield Asset Management Inc. and the public. We also own 100% of the general partner interest and the incentive distribution rights in CQP. CQP is accounted for as a consolidated VIE.
The following table presents the summarized assets and liabilities (in millions) of CQP, our consolidated VIE, which are included in our Consolidated Balance Sheets. The assets in the table below may only be used to settle obligations of CQP. In addition, there is no recourse to us for the consolidated VIE’s liabilities. The assets and liabilities in the table below include third party assets and liabilities of CQP only and exclude intercompany balances that eliminate in consolidation.
March 31, December 31,
2022 2021
Current assets    
Cash and cash equivalents $ 1,156  $ 876 
Restricted cash and cash equivalents 136  98 
Trade and other receivables, net of current expected credit losses 434  580 
Other current assets 266  285 
Total current assets 1,992  1,839 
Property, plant and equipment, net of accumulated depreciation 16,915  16,830 
Other non-current assets, net 309  316 
Total assets $ 19,216  $ 18,985 
Current liabilities    
Accrued liabilities $ 1,164  $ 1,077 
Other current liabilities 404  200 
Total current liabilities 1,568  1,277 
Long-term debt, net of premium, discount and debt issuance costs 17,184  17,177 
Other non-current liabilities 3,086  100 
Total liabilities $ 21,838  $ 18,554