Cheniere Corpus Christi Pipeline, L.P.

CIK:0001693288|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenues	$ 612,457	$ 386,559	$ 300,073	$ 106,081	$ 0	$ 0	$ 0	$ 0	$ 1,405,170	$ 0	$ 0
Revenues from contracts with customers									1,404,943	0	0
Operating costs and expenses (recoveries)
Cost of sales (excluding depreciation and amortization expense shown separately below)									691,301	172	91
Cost of sales—affiliate									3,015	0	0
Cost of sales—related party									85,429	0	0
Operating and maintenance expense (recovery)									242,027	(96)	3,024
Operating and maintenance expense—affiliate									59,319	4,283	2,401
Development expense									596	177	516
Development expense—affiliate									61	0	8
General and administrative expense									6,106	5,263	5,551
General and administrative expense—affiliate									11,352	2,201	1,173
Depreciation and amortization expense									230,780	9,859	892
Impairment expense and loss on disposal of assets									364	20	5,505
Total operating costs and expenses									1,330,350	21,879	19,161
Income (loss) from operations	234,561	(90,951)	(43,388)	(25,402)	(15,193)	2,345	(5,941)	(3,090)	74,820	(21,879)	(19,161)
Other income (expense)
Interest expense, net of capitalized interest									(278,035)	0	0
Loss on modification or extinguishment of debt									(41,296)	(15,332)	(32,480)
Derivative gain (loss), net									(133,427)	43,105	3,249
Other income (expense)									3,642	392	(260)
Total other income (expense)									(449,116)	28,165	(29,491)
Net income (loss)	$ 158,298	$ (272,410)	$ (188,907)	$ (71,277)	$ (91,113)	$ 24,388	$ 7,319	$ 65,692	(374,296)	6,286	(48,652)
LNG [Member]
Revenues
Revenues									679,070	0	0
Revenues from contracts with customers									678,843	0	0
LNG—affiliate [Member]
Revenues
Revenues from contracts with customers									$ 726,100	$ 0	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income (loss)	$ (374,296)	$ 6,286	$ (48,652)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization expense	230,780	9,859	892
Amortization of discount and debt issuance costs	15,953	0	0
Loss on modification or extinguishment of debt	41,296	15,332	32,480
Total losses (gains) on derivatives, net	88,052	(43,128)	(3,158)
Total losses on derivatives, net—related party	957	0	0
Net cash used for settlement of derivative instruments	(29,437)	(7,222)	(50,981)
Impairment expense and loss on disposal of assets	364	20	5,505
Other	1,603	0	0
Changes in operating assets and liabilities:
Accounts receivable	(57,654)	0	0
Accounts receivable—affiliate	(57,203)	0	0
Advances to affiliate	(53,231)	(10,911)	0
Inventory	(36,885)	(24,852)	0
Accounts payable and accrued liabilities	174,471	10,354	152
Accrued liabilities—related party	2,531	0	0
Due to affiliates	15,368	530	1,567
Other, net	3,863	(16,313)	(1,454)
Other, net—affiliate	95	(117)	(667)
Net cash used in operating activities	(33,373)	(60,162)	(64,316)
Cash flows from investing activities
Property, plant and equipment, net	(1,517,162)	(2,962,936)	(1,987,254)
Other	(2,058)	2,669	25,045
Net cash used in investing activities	(1,519,220)	(2,960,267)	(1,962,209)
Cash flows from financing activities
Proceeds from issuances of debt	4,203,550	3,114,800	3,040,000
Repayments of debt	(3,543,757)	(301,455)	(1,436,050)
Debt issuance and deferred financing costs	(16,210)	(45,743)	(23,496)
Debt extinguishment cost	(11,127)	(9,108)	(29)
Capital contributions	710,737	324,517	402,119
Net cash provided by financing activities	1,343,193	3,083,011	1,982,544
Net increase (decrease) in cash, cash equivalents and restricted cash	(209,400)	62,582	(43,981)
Cash, cash equivalents and restricted cash—beginning of period	289,141	226,559	270,540
Cash, cash equivalents and restricted cash—end of period	$ 79,741	$ 289,141	$ 226,559

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 0	$ 0
Restricted cash	79,741	289,141
Accounts and other receivables	57,712	24,989
Accounts receivable—affiliate	57,211	21,060
Advances to affiliate	115,476	94,397
Inventory	69,179	26,198
Derivative assets	73,809	15,627
Derivative assets—related party	2,623	2,132
Other current assets	14,852	15,217
Other current assets—affiliate	5	633
Total current assets	470,608	489,394
Property, plant and equipment, net	12,507,419	11,138,825
Debt issuance and deferred financing costs, net	14,705	38,012
Non-current derivative assets	61,217	19,032
Non-current derivative assets—related party	1,933	3,381
Other non-current assets, net	55,630	31,709
Total assets	13,111,512	11,720,353
Current liabilities
Accounts payable	7,290	16,202
Accrued liabilities	369,980	162,205
Accrued liabilities—related party	2,531	0
Current debt	0	168,000
Due to affiliates	26,900	25,086
Derivative liabilities	46,486	13,576
Other current liabilities	364	0
Other current liabilities—affiliate	519	0
Total current liabilities	454,070	385,069
Long-term debt, net	10,093,480	9,245,552
Non-current derivative liabilities	134,667	8,595
Other non-current liabilities	10,433	0
Other non-current liabilities—affiliate	1,284	0
Commitments and contingencies (see Note 13)
Member’s equity	2,417,578	2,081,137
Total liabilities and member’s equity	$ 13,111,512	$ 11,720,353