CHENIERE ENERGY, INC. LNG Cash Flow

Cheniere energy, inc. (LNG)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net income
603,000	1,153,000	-260,000	2,000	337,000	223,000	227,000	150,000	600,000	280,000	90,000	21,000	172,000	150,000	-131,000	-335,000	-349,000	-312,262	-307,092	-141,802	-335,844	-184,022	-104,800	-280,710	-122,345	-186,071	-100,824	-154,763	-117,105	-94,324	-109,001	-73,040	-56,415	-57,809	-53,937	-47,172	-39,838
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash LNG inventory write-downs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	174	460	-136	17,502	956	8,527	14,978	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization expense
233,000	233,000	213,000	204,000	144,000	116,000	113,000	111,000	109,000	104,000	92,000	90,000	70,000	68,000	49,000	33,000	24,000	23,439	21,638	20,154	17,769	15,296	16,189	17,298	15,475	15,676	15,247	15,173	15,113	19,406	15,233	15,478	16,290	17,123	15,271	15,625	15,386
Share-based compensation expense
29,000	37,000	33,000	33,000	28,000	24,000	31,000	30,000	28,000	27,000	18,000	22,000	24,000	16,000	33,000	36,000	16,000	79,373	26,249	50,238	16,140	17,554	22,436	26,071	35,942	68,582	26,662	112,434	63,689	4,735	49,713	1,959	2,289	9,735	2,277	6,341	8,011
Non-cash interest expense
17,000	21,000	29,000	60,000	33,000	22,000	22,000	15,000	15,000	21,000	16,000	18,000	20,000	17,000	21,000	22,000	17,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,009	7,932	7,695
Amortization of debt issuance costs, premium and discount
32,000	32,000	27,000	26,000	18,000	16,000	18,000	18,000	17,000	16,000	18,000	18,000	17,000	17,000	15,000	17,000	13,000	19,448	3,652	15,784	9,116	5,622	5,332	3,422	2,217	6,358	3,647	2,734	2,209	2,234	3,786	7,122	7,165	7,346	7,238	7,109	6,984
Non-cash operating lease costs
96,000	-	-	-	79,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease assets
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on modification or extinguishment of debt
-1,000	-28,000	-27,000	0	0	-	-	-	-	0	-25,000	-33,000	-42,000	-52,000	-26,000	-56,000	-1,000	-27,727	0	-7,281	-88,992	0	0	-114,335	0	-	-	-	-	31,660	2	-14,590	-507	0	0	0	0
Total gains on derivatives, net
459,000	422,000	-169,000	25,000	122,000	-34,000	-13,000	-35,000	31,000	46,000	-29,000	-35,000	-44,000	297,000	27,000	-114,000	-182,000	40,769	-128,571	45,985	-126,183	-29,682	5,573	-60,536	-34,323	28,575	-22,054	95,883	-18,123	355	-529	1,056	171	-	-	-	-
Net cash provided by settlement of derivative instruments
-91,000	-30,000	-46,000	-46,000	-16,000	-71,000	46,000	4,000	4,000	47,000	4,000	26,000	29,000	11,000	17,000	8,000	9,000	5,830	5,236	51,672	37,262	3,013	2,308	15,968	1,469	-	-	-	-	-	-	-	-	-	-	-	-
Impairment expense and loss on disposal of assets
-5,000	-16,000	-1,000	-4,000	-2,000	0	-8,000	0	0	-	-	-	-	-23,000	0	0	10,000	90,428	396	0	176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment or loss on equity method investments
-1,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes
129,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	0	0	-5,000	10,000	-1,000	-1,000	3,000	0	6,000	-1,000	-8,000	-1,000	-166	28,123	-20,330	-8,627	-16,012	149	2,832	-1,006	9	601	-807	2,828	12,082	-146	56	2,805	2,159	-3,778	54	152
Changes in restricted cash for certain operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-147,999	130,643	-75,233	-	-19,924	-99,256	16,329	-47,808	-16,943	-89,692	33,850	-97,047	-2,161	-48,808	26,830	-40,289	26,583	-30,635	39,725
Changes in operating assets and liabilities:
Accounts and other receivables
-23,000	-6,000	64,000	40,000	-99,000	247,000	-34,000	-317,000	237,000	108,000	-30,000	57,000	6,000	79,000	60,000	69,000	-1,000	-1,226	-170	-25,687	28,083	-18,966	19,360	139	-600	-21,483	-1,736	24,203	-953	-24,575	22,190	2,850	-1,169	-1,056	1,359	-30,055	28,289
Accounts receivable—related party
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
-74,000	24,000	-2,000	11,000	-44,000	17,000	66,000	110,000	-120,000	108,000	-18,000	37,000	-54,000	91,000	-6,000	32,000	2,000	2,034	-2,953	-757	29,676	-8,034	12,532	17,377	-3,001	-2,611	16,761	14,750	-2,440	14,593	10,551	-974	-3,269	10,675	2,291	-5,013	8,389
Other current assets
-13,000	-27,000	-1,000	31,000	15,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-176,000	134,000	-2,000	66,000	-146,000	211,000	109,000	24,000	-156,000	205,000	-25,000	121,000	-76,000	30,000	51,000	11,000	-28,000	-14,671	-25,430	-30,901	73,002	-46,724	39,941	-20,523	43,379	-55,815	37,329	-24,458	49,631	-48,708	39,061	-37,164	17,516	-15,159	41,970	-34,673	36,719
Accrued liabilities—related party
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-67,000	-11,000	35,000	29,000	-31,000	18,000	21,000	-21,000	8,000	-24,000	68,000	1,000	-11,000	45,000	-1,000	-1,000	-1,000	-997	-1,018	-982	-1,003	-983	-1,000	-1,125	-830	-992	-1,000	255	-2,210	-985	376	-2,376	-1,104	-829	-906	-1,339	-1,384
Operating lease liabilities
-90,000	-103,000	-100,000	-78,000	-85,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Finance lease liabilities
0	-	-	-	1,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-19,000	-4,000	3,000	17,000	-10,000	0	0	11,000	-10,000	-2,000	2,000	-7,000	12,000	-1,000	-10,000	16,000	7,000	40,252	-55,189	18,885	15,052	-1,846	-3,664	-9,656	13,189	9,583	-1,687	456	1,860	110	-2,588	-2,221	1,816	1,636	-1,672	-1,536	5,621
Net cash provided by operating activities
574,000	741,000	332,000	348,000	412,000	486,000	522,000	513,000	469,000	336,000	359,000	227,000	309,000	-85,000	-24,000	-164,000	-131,000	-208,423	20,378	-280,775	-14,180	-221,748	-29,709	6,878	-18,219	-30,133	-460	-8,624	-13,219	-2,861	-10,042	-26,241	-68,696	-2,849	-10,393	19,722	-49,244
Cash flows from investing activities
Property, plant and equipment, net
556,000	469,000	1,079,000	883,000	625,000	931,000	1,204,000	732,000	776,000	454,000	565,000	1,019,000	1,319,000	907,000	1,172,000	1,127,000	1,150,000	1,105,404	1,452,782	3,703,816	590,998	781,601	695,557	579,024	773,376	665,594	1,176,048	808,093	464,608	246,789	832,182	38,715	270	2,396	1,058	3,266	2,214
Investment in equity method investment
90,000	35,000	36,000	10,000	24,000	0	25,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Use of restricted cash for the acquisition of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,146,906	-3,610,997	-572,623	-	-677,425	-541,153	-761,858	-658,984	-890,457	-1,116,651	-463,617	-234,839	-1,138,482	-213,390	-784	-1,710	-1,039	-3,210	-2,263
Investment in Cheniere Partners
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,673	7,449	10,204	364,687	170,193	60	0	17,806	0	0
Other
8,000	1,000	1,000	-2,000	2,000	1,000	1,000	-16,000	0	1,000	4,000	7,000	-29,000	7,000	28,000	4,000	18,000	19,482	9,682	55,672	46,164	42,749	18,219	-6,601	12,495	3,143	23,045	5,928	1,551	-12,667	13,215	5,882	2,499	1,468	1,570	394	181
Net cash used in investing activities
-654,000	-505,000	-1,116,000	-891,000	-651,000	-932,000	-1,230,000	-716,000	-776,000	-455,000	-569,000	-1,067,000	-1,290,000	-914,000	-1,200,000	-1,131,000	-1,168,000	-6,455,412	-315,558	-148,491	-64,539	-2,804,786	-36,351	-31,270	-24,013	-9,753	-308,636	298,957	-9,991	-9,487	-71,602	-1,400	-2,045	-2,154	-19,112	-733	-132
Cash flows from financing activities
Proceeds from issuances of debt
596,000	2,014,000	2,399,000	1,329,000	692,000	842,000	1,644,000	1,533,000	266,000	317,000	1,726,000	1,949,000	2,862,000	4,557,000	2,610,000	3,790,000	1,908,000	895,000	973,000	2,705,000	2,500,000	1,000,000	0	2,584,500	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt
300,000	2,109,000	1,607,000	189,000	441,000	6,000	1,104,000	281,000	0	23,000	1,446,000	1,460,000	703,000	3,490,000	1,288,000	2,478,000	415,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	550,000	204,630	273,884	298,000	-	0	0	0
Debt issuance and other financing costs
33,000	13,000	18,000	20,000	0	13,000	7,000	45,000	1,000	4,000	18,000	24,000	43,000	55,000	20,000	48,000	49,000	-6,699	108,550	352,754	58,395	15,586	8,853	71,410	13,957	39,071	43,097	193,896	34,986	12,251	205,298	5,530	0	-	-	-	-
Investment in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-642,821	-2,589,592	-1,929,288	-	28,170	-2,316,646	33,743	-937,701	374,632	-1,702,325	-1,818,313	-346,457	-970,176	-460,282	5,249	8,368	-36,658	-931	5,085
Crest Royalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-12,280	0	25,664	0	0	0	0
Distributions and dividends to non-controlling interest
154,000	151,000	149,000	146,000	144,000	141,000	147,000	145,000	143,000	125,000	20,000	20,000	20,000	20,000	20,000	20,000	20,000	19,846	20,033	20,071	20,050	20,039	19,834	19,858	19,786	19,174	19,174	23,348	7,524	28,050	2,876	2,963	2,438	1,123	1,532	1,286	641
Proceeds from sale of common shares by Cheniere Holdings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-848	381,031	467,779	351,907	345,485	-192	123,305	0
Proceeds from issuances of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500,000	-	-	-	-	-	-	-	-
Proceeds from 2021 Sabine Pass Liquefaction Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from sale of common units by Cheniere Partners
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-20	-205	365,000	-296	196,381	5,950	2,843	-277	43,650	7,463	1,515
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-279	365	956	958	1,303	3,237	2,574	3,691	3,424	274	0	0	-	-	-	-	-	-	-	-
Distributions to non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,698	-	8,298	8,238	8,092	8,092	6,817	6,706	6,600
Payments related to tax withholdings for share-based compensation
39,000	0	5,000	2,000	12,000	10,000	2,000	2,000	6,000	8,000	1,000	2,000	1,000	1,000	15,000	3,000	1,000	16,695	38,131	2,403	3,771	67,808	35,298	1,476	7,742	47,230	17,224	71,453	460	-	-	-	-	-	-	-	-
Repurchase of common stock
155,000	90,000	156,000	3,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95	1,798	-	1,728	2	0
Other
0	1,000	1,000	3,000	-1,000	-1,000	-7,000	0	0	-	-	-	-	-	-	-	-	576	1,405	-1	20	4,162	407	-1,008	44	1,315	-9,052	11,122	-3	-	-	-1	-701	-	1	-4,030	-312
Net cash provided by (used in) financing activities
-85,000	-359,000	461,000	972,000	94,000	670,000	369,000	1,052,000	116,000	157,000	241,000	443,000	2,095,000	977,000	1,267,000	1,241,000	1,423,000	6,027,156	165,235	-258,865	489,474	3,385,546	-32,171	-324	-4,007	626,564	286,339	-71,453	-460	-936	158,754	-274,301	51,408	332,851	-1,744	119,099	-312
Net decrease in cash, cash equivalents and restricted cash
-165,000	-123,000	-323,000	429,000	-145,000	224,000	-339,000	849,000	-191,000	38,000	31,000	-397,000	1,114,000	-22,000	43,000	-54,000	124,000	-636,679	-129,945	-688,131	410,755	359,012	-98,231	-24,716	-46,239	586,678	-22,757	218,880	-23,670	-13,284	77,110	-301,942	-19,333	327,848	-31,249	138,088	-49,688