Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

v3.22.1
Revenues from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table represents a disaggregation of revenue earned from contracts with customers (in millions):
Three Months Ended March 31,
2022 2021
LNG revenues $ 7,564  $ 3,039 
Regasification revenues 68  67 
Other revenues 25  20 
Total revenues from customers 7,657  3,126 
Net derivative loss (1) (224) (40)
Other (2) 51  4 
Total revenues $ 7,484  $ 3,090 
(1)See Note 6—Derivative Instruments for additional information about our derivatives.
(2)Includes revenues from LNG vessel subcharters. See Note 10—Leases for additional information about our subleases.
Contract Assets
The following table shows our contract assets, net of current expected credit losses, which are classified as other current assets and other non-current assets, net on our Consolidated Balance Sheets (in millions):
March 31, December 31,
2022 2021
Contract assets, net of current expected credit losses $ 149  $ 140 
Contract Liabilities
The following table reflects the changes in our contract liabilities, which we classify as deferred revenue and other non-current liabilities on our Consolidated Balance Sheets (in millions):
Three Months Ended March 31, 2022
Deferred revenue, beginning of period $ 194 
Cash received but not yet recognized in revenue 169 
Revenue recognized from prior period deferral (194)
Deferred revenue, end of period $ 169 
Transaction Price Allocated to Future Performance Obligations The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied:
March 31, 2022 December 31, 2021
Unsatisfied Transaction Price (in billions) Weighted Average Recognition Timing (years) (1) Unsatisfied Transaction Price (in billions) Weighted Average Recognition Timing (years) (1)
LNG revenues $ 107.1  9 $ 107.1  9
Regasification revenues 1.8  4 1.9  4
Total revenues $ 108.9  $ 109.0 
(1)The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.