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What changed: r3 to r4

Completed LNG fee-mix and project-funding model, including distinct exported/sold volume, capitalized interest and capital-holder claims.

Retrieval clocks and internal hashes are excluded. Changed source or accounting definitions are not automatically an economic restatement. The authored reason describes the destination revision.

FieldBeforeAfter
/business/descriptionOur Company Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Our integrated assets span the LNG supply chain, including LNG production, natural gas transportation, shipping and regasification. Our innovative approach, which is both scalable and repeatable, allows us to bring low-cost LNG to a global market years faster than traditional LNG projects. We believe supplying this clean, affordable fuel promotes global energy security and diversification and is essential to meeting growing global energy demand. Natural gas is a vital global resource that underpins economic development through the generation of reliable electricity. By cooling natural gas to -260°F, it is converted to LNG—reducing its volume to 1/600th of its original state for efficient transport by LNG tankers to international markets lacking domestic supply, displacing more carbon intensive sources of energy such as coal and oil. Venture Global’s modular, “design‑one, build‑many”.Venture Global develops and operates LNG export projects, pipelines and shipping assets. It sells commissioning cargoes under shorter-term arrangements before projects enter long-term commercial contracts. Profit depends on recognized LNG volumes, liquefaction fees, feed-gas costs and the transition between those sales regimes. Major construction programs require project debt and restricted reserves, while subsidiary preferred and minority owners have claims separate from public common shares.
/business/drivers/0Our Company Venture Global is a long-term, low-cost provider of U.S.Recognized LNG volume and commissioning versus commercial fee mix
/business/drivers/1LNG sourced from resource rich North American natural gas basins.Project completion, cash construction spend and capitalized interest
/business/drivers/2Our integrated assets span the LNG supply chain, including LNG production, natural gas transportation, shipping and regasification.Project debt, restricted cash and subsidiary/common distributions
/estimates/basisnot yet estimatedDesk base scenario from the operating model; not consensus. Revenue basis: Consolidated revenue ($M).
/estimates/rows/2026Q3/as_ofNone2026-09-19
/estimates/rows/2026Q3/basisNoneDesk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2026Q3/classNoneestimate
/estimates/rows/2026Q3/periodNone2026Q3
/estimates/rows/2026Q3/revenueNone4965727500.0
/estimates/rows/2026Q4/as_ofNone2026-09-19
/estimates/rows/2026Q4/basisNoneDesk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2026Q4/classNoneestimate
/estimates/rows/2026Q4/periodNone2026Q4
/estimates/rows/2026Q4/revenueNone4965727500.0
/estimates/rows/2027Q1/as_ofNone2026-09-19
/estimates/rows/2027Q1/basisNoneDesk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2027Q1/classNoneestimate
/estimates/rows/2027Q1/periodNone2027Q1
/estimates/rows/2027Q1/revenueNone4275862500.0
/estimates/rows/2027Q2/as_ofNone2026-09-19
/estimates/rows/2027Q2/basisNoneDesk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2027Q2/classNoneestimate
/estimates/rows/2027Q2/periodNone2027Q2
/estimates/rows/2027Q2/revenueNone4117837500.0000005
/meta/as_of2026-09-182026-09-19
/meta/business_authoredFalseTrue
/meta/extract_accession0002007855-26-000013None
/meta/extract_filed2026-03-02None
/meta/extract_form10-KNone
/meta/extract_sourcefilingauthored
/meta/extract_urlhttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000013/vg-20251231.htmNone
/meta/research_reviewed_atNone2026-09-19
/meta/research_stageNoneoperating_scenarios
/meta/revision34
/meta/skeletonTrueFalse
/operating_model/cells/annual_cargos:shared/basisNoneCalculated midpoint of CP 149-154 plus Plaquemines 351-364 cargos; counts represented as dimensionless.
/operating_model/cells/annual_cargos:shared/caseNoneshared
/operating_model/cells/annual_cargos:shared/idNoneannual_cargos
/operating_model/cells/annual_cargos:shared/kindNoneassumption
/operating_model/cells/annual_cargos:shared/labelNoneTotal 2026 export-cargo midpoint
/operating_model/cells/annual_cargos:shared/periodNoneFY2026
/operating_model/cells/annual_cargos:shared/source_dateNone2026-08-11
/operating_model/cells/annual_cargos:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/annual_cargos:shared/unitNoneratio
/operating_model/cells/annual_cargos:shared/valueNone509.0
/operating_model/cells/base_2026q3_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2026q3_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2026q3_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_adj_ebitda:base/formula/refs/0Nonebase_2026q3_fee_revenue
/operating_model/cells/base_2026q3_adj_ebitda:base/formula/refs/1Nonebase_2026q3_cash_costs
/operating_model/cells/base_2026q3_adj_ebitda:base/idNonebase_2026q3_adj_ebitda
/operating_model/cells/base_2026q3_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2026q3_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2026q3_adj_ebitda:base/periodNone2026Q3
/operating_model/cells/base_2026q3_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_adj_ebitda:base/valueNone2518.5
/operating_model/cells/base_2026q3_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2026q3_capex:base/caseNonebase
/operating_model/cells/base_2026q3_capex:base/idNonebase_2026q3_capex
/operating_model/cells/base_2026q3_capex:base/kindNoneassumption
/operating_model/cells/base_2026q3_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2026q3_capex:base/periodNone2026Q3
/operating_model/cells/base_2026q3_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_capex:base/valueNone3400.0
/operating_model/cells/base_2026q3_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2026q3_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2026q3_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_cash_after_claims:base/formula/refs/0Nonebase_2026q3_fcf
/operating_model/cells/base_2026q3_cash_after_claims:base/formula/refs/1Nonebase_2026q3_claims
/operating_model/cells/base_2026q3_cash_after_claims:base/idNonebase_2026q3_cash_after_claims
/operating_model/cells/base_2026q3_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2026q3_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2026q3_cash_after_claims:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_after_claims:base/valueNone-1936.50371404
/operating_model/cells/base_2026q3_cash_costs:base/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/base_2026q3_cash_costs:base/caseNonebase
/operating_model/cells/base_2026q3_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_cash_costs:base/formula/refs/0Noneh2_residual_cost
/operating_model/cells/base_2026q3_cash_costs:base/formula/refs/1Nonebase_2026q3_half
/operating_model/cells/base_2026q3_cash_costs:base/formula/refs/2Nonebase_2026q3_cost_factor
/operating_model/cells/base_2026q3_cash_costs:base/idNonebase_2026q3_cash_costs
/operating_model/cells/base_2026q3_cash_costs:base/kindNonederived
/operating_model/cells/base_2026q3_cash_costs:base/labelNoneResidual operating costs net of other contribution
/operating_model/cells/base_2026q3_cash_costs:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_costs:base/valueNone595.0275000000001
/operating_model/cells/base_2026q3_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2026q3_cash_interest:base/caseNonebase
/operating_model/cells/base_2026q3_cash_interest:base/idNonebase_2026q3_cash_interest
/operating_model/cells/base_2026q3_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2026q3_cash_interest:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_interest:base/valueNone450.0
/operating_model/cells/base_2026q3_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cash_tax:base/caseNonebase
/operating_model/cells/base_2026q3_cash_tax:base/idNonebase_2026q3_cash_tax
/operating_model/cells/base_2026q3_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2026q3_cash_tax:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_tax:base/valueNone100.0
/operating_model/cells/base_2026q3_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2026q3_cfo:base/caseNonebase
/operating_model/cells/base_2026q3_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_cfo:base/formula/refs/0Nonebase_2026q3_adj_ebitda
/operating_model/cells/base_2026q3_cfo:base/formula/refs/1Nonebase_2026q3_cfo_uses
/operating_model/cells/base_2026q3_cfo:base/idNonebase_2026q3_cfo
/operating_model/cells/base_2026q3_cfo:base/kindNonederived
/operating_model/cells/base_2026q3_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2026q3_cfo:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cfo:base/valueNone1818.5
/operating_model/cells/base_2026q3_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2026q3_cfo_uses:base/caseNonebase
/operating_model/cells/base_2026q3_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2026q3_cfo_uses:base/formula/refs/0Nonebase_2026q3_cash_interest
/operating_model/cells/base_2026q3_cfo_uses:base/formula/refs/1Nonebase_2026q3_cash_tax
/operating_model/cells/base_2026q3_cfo_uses:base/formula/refs/2Nonebase_2026q3_wc_use
/operating_model/cells/base_2026q3_cfo_uses:base/formula/refs/3Nonebase_2026q3_legal_cash_stress
/operating_model/cells/base_2026q3_cfo_uses:base/idNonebase_2026q3_cfo_uses
/operating_model/cells/base_2026q3_cfo_uses:base/kindNonederived
/operating_model/cells/base_2026q3_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2026q3_cfo_uses:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cfo_uses:base/valueNone700.0
/operating_model/cells/base_2026q3_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2026q3_claims:base/caseNonebase
/operating_model/cells/base_2026q3_claims:base/formula/opNonesum
/operating_model/cells/base_2026q3_claims:base/formula/refs/0Nonebase_2026q3_subsidiary_distributions
/operating_model/cells/base_2026q3_claims:base/formula/refs/1Nonebase_2026q3_common_dividends
/operating_model/cells/base_2026q3_claims:base/formula/refs/2Nonebase_2026q3_preferred_redemption
/operating_model/cells/base_2026q3_claims:base/formula/refs/3Nonebase_2026q3_debt_principal
/operating_model/cells/base_2026q3_claims:base/idNonebase_2026q3_claims
/operating_model/cells/base_2026q3_claims:base/kindNonederived
/operating_model/cells/base_2026q3_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2026q3_claims:base/periodNone2026Q3
/operating_model/cells/base_2026q3_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_claims:base/valueNone355.00371404
/operating_model/cells/base_2026q3_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2026q3_common_dividends:base/caseNonebase
/operating_model/cells/base_2026q3_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2026q3_common_dividends:base/formula/refs/1Nonebase_2026q3_dividend_share_factor
/operating_model/cells/base_2026q3_common_dividends:base/formula/refs/2Nonebase_2026q3_dividend_factor
/operating_model/cells/base_2026q3_common_dividends:base/idNonebase_2026q3_common_dividends
/operating_model/cells/base_2026q3_common_dividends:base/kindNonederived
/operating_model/cells/base_2026q3_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2026q3_common_dividends:base/periodNone2026Q3
/operating_model/cells/base_2026q3_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_common_dividends:base/valueNone100.00371403999999
/operating_model/cells/base_2026q3_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cost_factor:base/caseNonebase
/operating_model/cells/base_2026q3_cost_factor:base/idNonebase_2026q3_cost_factor
/operating_model/cells/base_2026q3_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2026q3_cost_factor:base/labelNoneCost delivery stress
/operating_model/cells/base_2026q3_cost_factor:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cost_factor:base/unitNoneratio
/operating_model/cells/base_2026q3_cost_factor:base/valueNone1.0
/operating_model/cells/base_2026q3_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_da:base/caseNonebase
/operating_model/cells/base_2026q3_da:base/idNonebase_2026q3_da
/operating_model/cells/base_2026q3_da:base/kindNoneassumption
/operating_model/cells/base_2026q3_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2026q3_da:base/periodNone2026Q3
/operating_model/cells/base_2026q3_da:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_da:base/valueNone275.0
/operating_model/cells/base_2026q3_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2026q3_debt_principal:base/caseNonebase
/operating_model/cells/base_2026q3_debt_principal:base/idNonebase_2026q3_debt_principal
/operating_model/cells/base_2026q3_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2026q3_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2026q3_debt_principal:base/periodNone2026Q3
/operating_model/cells/base_2026q3_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_debt_principal:base/valueNone80.0
/operating_model/cells/base_2026q3_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2026q3_dividend_factor:base/caseNonebase
/operating_model/cells/base_2026q3_dividend_factor:base/idNonebase_2026q3_dividend_factor
/operating_model/cells/base_2026q3_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2026q3_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2026q3_dividend_factor:base/periodNone2026Q3
/operating_model/cells/base_2026q3_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2026q3_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2026q3_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2026q3_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2026q3_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2026q3_dividend_share_factor:base/formula/refs/0Nonebase_2026q3_shares
/operating_model/cells/base_2026q3_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2026q3_dividend_share_factor:base/idNonebase_2026q3_dividend_share_factor
/operating_model/cells/base_2026q3_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2026q3_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2026q3_dividend_share_factor:base/periodNone2026Q3
/operating_model/cells/base_2026q3_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2026q3_dividend_share_factor:base/valueNone1.0
/operating_model/cells/base_2026q3_execution:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_execution:base/caseNonebase
/operating_model/cells/base_2026q3_execution:base/idNonebase_2026q3_execution
/operating_model/cells/base_2026q3_execution:base/kindNoneassumption
/operating_model/cells/base_2026q3_execution:base/labelNoneRecognized volume delivery
/operating_model/cells/base_2026q3_execution:base/periodNone2026Q3
/operating_model/cells/base_2026q3_execution:base/unitNoneratio
/operating_model/cells/base_2026q3_execution:base/valueNone1.0
/operating_model/cells/base_2026q3_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2026q3_fcf:base/caseNonebase
/operating_model/cells/base_2026q3_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_fcf:base/formula/refs/0Nonebase_2026q3_cfo
/operating_model/cells/base_2026q3_fcf:base/formula/refs/1Nonebase_2026q3_capex
/operating_model/cells/base_2026q3_fcf:base/idNonebase_2026q3_fcf
/operating_model/cells/base_2026q3_fcf:base/kindNonederived
/operating_model/cells/base_2026q3_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2026q3_fcf:base/periodNone2026Q3
/operating_model/cells/base_2026q3_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_fcf:base/valueNone-1581.5
/operating_model/cells/base_2026q3_fee_revenue:base/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/base_2026q3_fee_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q3_fee_revenue:base/formula/refs/0Nonebase_2026q3_fixed_fees
/operating_model/cells/base_2026q3_fee_revenue:base/formula/refs/1Nonebase_2026q3_merchant_fees
/operating_model/cells/base_2026q3_fee_revenue:base/idNonebase_2026q3_fee_revenue
/operating_model/cells/base_2026q3_fee_revenue:base/kindNonederived
/operating_model/cells/base_2026q3_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2026q3_fee_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_fee_revenue:base/valueNone3113.5275
/operating_model/cells/base_2026q3_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2026q3_feed_gas:base/caseNonebase
/operating_model/cells/base_2026q3_feed_gas:base/idNonebase_2026q3_feed_gas
/operating_model/cells/base_2026q3_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2026q3_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2026q3_feed_gas:base/periodNone2026Q3
/operating_model/cells/base_2026q3_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_feed_gas:base/valueNone4.0
/operating_model/cells/base_2026q3_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2026q3_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2026q3_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_feed_gas_recovery:base/formula/refs/0Nonebase_2026q3_volume
/operating_model/cells/base_2026q3_feed_gas_recovery:base/formula/refs/1Nonebase_2026q3_feed_gas
/operating_model/cells/base_2026q3_feed_gas_recovery:base/idNonebase_2026q3_feed_gas_recovery
/operating_model/cells/base_2026q3_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2026q3_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2026q3_feed_gas_recovery:base/periodNone2026Q3
/operating_model/cells/base_2026q3_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_feed_gas_recovery:base/valueNone1852.2
/operating_model/cells/base_2026q3_fixed_fees:base/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/base_2026q3_fixed_fees:base/caseNonebase
/operating_model/cells/base_2026q3_fixed_fees:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_fixed_fees:base/formula/refs/0Nonebase_2026q3_fixed_volume
/operating_model/cells/base_2026q3_fixed_fees:base/formula/refs/1Nonecontracted_fee
/operating_model/cells/base_2026q3_fixed_fees:base/idNonebase_2026q3_fixed_fees
/operating_model/cells/base_2026q3_fixed_fees:base/kindNonederived
/operating_model/cells/base_2026q3_fixed_fees:base/labelNoneContracted fee revenue
/operating_model/cells/base_2026q3_fixed_fees:base/periodNone2026Q3
/operating_model/cells/base_2026q3_fixed_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_fixed_fees:base/valueNone1846.0275
/operating_model/cells/base_2026q3_fixed_volume:base/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/base_2026q3_fixed_volume:base/caseNonebase
/operating_model/cells/base_2026q3_fixed_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_fixed_volume:base/formula/refs/0Nonecontracted_volume
/operating_model/cells/base_2026q3_fixed_volume:base/formula/refs/1Nonebase_2026q3_half
/operating_model/cells/base_2026q3_fixed_volume:base/formula/refs/2Nonebase_2026q3_execution
/operating_model/cells/base_2026q3_fixed_volume:base/idNonebase_2026q3_fixed_volume
/operating_model/cells/base_2026q3_fixed_volume:base/kindNonederived
/operating_model/cells/base_2026q3_fixed_volume:base/labelNoneContracted fee volume TBtu
/operating_model/cells/base_2026q3_fixed_volume:base/periodNone2026Q3
/operating_model/cells/base_2026q3_fixed_volume:base/unitNoneratio
/operating_model/cells/base_2026q3_fixed_volume:base/valueNone365.55
/operating_model/cells/base_2026q3_half:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_half:base/caseNonebase
/operating_model/cells/base_2026q3_half:base/idNonebase_2026q3_half
/operating_model/cells/base_2026q3_half:base/kindNoneassumption
/operating_model/cells/base_2026q3_half:base/labelNoneH2 quarterly allocation
/operating_model/cells/base_2026q3_half:base/periodNone2026Q3
/operating_model/cells/base_2026q3_half:base/unitNoneratio
/operating_model/cells/base_2026q3_half:base/valueNone0.5
/operating_model/cells/base_2026q3_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2026q3_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2026q3_legal_cash_stress:base/idNonebase_2026q3_legal_cash_stress
/operating_model/cells/base_2026q3_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2026q3_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2026q3_legal_cash_stress:base/periodNone2026Q3
/operating_model/cells/base_2026q3_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2026q3_merchant_fee:base/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/base_2026q3_merchant_fee:base/caseNonebase
/operating_model/cells/base_2026q3_merchant_fee:base/idNonebase_2026q3_merchant_fee
/operating_model/cells/base_2026q3_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2026q3_merchant_fee:base/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/base_2026q3_merchant_fee:base/periodNone2026Q3
/operating_model/cells/base_2026q3_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_merchant_fee:base/valueNone13.0
/operating_model/cells/base_2026q3_merchant_fees:base/basisNoneUnsold price scenario.
/operating_model/cells/base_2026q3_merchant_fees:base/caseNonebase
/operating_model/cells/base_2026q3_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_merchant_fees:base/formula/refs/0Nonebase_2026q3_merchant_volume
/operating_model/cells/base_2026q3_merchant_fees:base/formula/refs/1Nonebase_2026q3_merchant_fee
/operating_model/cells/base_2026q3_merchant_fees:base/idNonebase_2026q3_merchant_fees
/operating_model/cells/base_2026q3_merchant_fees:base/kindNonederived
/operating_model/cells/base_2026q3_merchant_fees:base/labelNoneUnsold fee revenue
/operating_model/cells/base_2026q3_merchant_fees:base/periodNone2026Q3
/operating_model/cells/base_2026q3_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_merchant_fees:base/valueNone1267.5
/operating_model/cells/base_2026q3_merchant_volume:base/basisNoneEquivalent volume sensitivity.
/operating_model/cells/base_2026q3_merchant_volume:base/caseNonebase
/operating_model/cells/base_2026q3_merchant_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_merchant_volume:base/formula/refs/0Noneunsold_volume
/operating_model/cells/base_2026q3_merchant_volume:base/formula/refs/1Nonebase_2026q3_half
/operating_model/cells/base_2026q3_merchant_volume:base/formula/refs/2Nonebase_2026q3_execution
/operating_model/cells/base_2026q3_merchant_volume:base/idNonebase_2026q3_merchant_volume
/operating_model/cells/base_2026q3_merchant_volume:base/kindNonederived
/operating_model/cells/base_2026q3_merchant_volume:base/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/base_2026q3_merchant_volume:base/periodNone2026Q3
/operating_model/cells/base_2026q3_merchant_volume:base/unitNoneratio
/operating_model/cells/base_2026q3_merchant_volume:base/valueNone97.5
/operating_model/cells/base_2026q3_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_nci_cash:base/caseNonebase
/operating_model/cells/base_2026q3_nci_cash:base/idNonebase_2026q3_nci_cash
/operating_model/cells/base_2026q3_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2026q3_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2026q3_nci_cash:base/periodNone2026Q3
/operating_model/cells/base_2026q3_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_nci_cash:base/valueNone40.0
/operating_model/cells/base_2026q3_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2026q3_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2026q3_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2026q3_noncash_deductions:base/formula/refs/0Nonebase_2026q3_da
/operating_model/cells/base_2026q3_noncash_deductions:base/formula/refs/1Nonebase_2026q3_sbc
/operating_model/cells/base_2026q3_noncash_deductions:base/formula/refs/2Nonebase_2026q3_other_adjustments
/operating_model/cells/base_2026q3_noncash_deductions:base/idNonebase_2026q3_noncash_deductions
/operating_model/cells/base_2026q3_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2026q3_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2026q3_noncash_deductions:base/periodNone2026Q3
/operating_model/cells/base_2026q3_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_noncash_deductions:base/valueNone290.0
/operating_model/cells/base_2026q3_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2026q3_operating_income:base/caseNonebase
/operating_model/cells/base_2026q3_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_operating_income:base/formula/refs/0Nonebase_2026q3_adj_ebitda
/operating_model/cells/base_2026q3_operating_income:base/formula/refs/1Nonebase_2026q3_noncash_deductions
/operating_model/cells/base_2026q3_operating_income:base/idNonebase_2026q3_operating_income
/operating_model/cells/base_2026q3_operating_income:base/kindNonederived
/operating_model/cells/base_2026q3_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2026q3_operating_income:base/periodNone2026Q3
/operating_model/cells/base_2026q3_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_operating_income:base/valueNone2228.5
/operating_model/cells/base_2026q3_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2026q3_other_adjustments:base/caseNonebase
/operating_model/cells/base_2026q3_other_adjustments:base/idNonebase_2026q3_other_adjustments
/operating_model/cells/base_2026q3_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2026q3_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2026q3_other_adjustments:base/periodNone2026Q3
/operating_model/cells/base_2026q3_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_other_adjustments:base/valueNone0.0
/operating_model/cells/base_2026q3_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2026q3_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2026q3_preferred_redemption:base/idNonebase_2026q3_preferred_redemption
/operating_model/cells/base_2026q3_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2026q3_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2026q3_preferred_redemption:base/periodNone2026Q3
/operating_model/cells/base_2026q3_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2026q3_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2026q3_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q3_revenue:base/formula/refs/0Nonebase_2026q3_fee_revenue
/operating_model/cells/base_2026q3_revenue:base/formula/refs/1Nonebase_2026q3_feed_gas_recovery
/operating_model/cells/base_2026q3_revenue:base/idNonebase_2026q3_revenue
/operating_model/cells/base_2026q3_revenue:base/kindNonederived
/operating_model/cells/base_2026q3_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2026q3_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_revenue:base/valueNone4965.7275
/operating_model/cells/base_2026q3_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_sbc:base/caseNonebase
/operating_model/cells/base_2026q3_sbc:base/idNonebase_2026q3_sbc
/operating_model/cells/base_2026q3_sbc:base/kindNoneassumption
/operating_model/cells/base_2026q3_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2026q3_sbc:base/periodNone2026Q3
/operating_model/cells/base_2026q3_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_sbc:base/valueNone15.0
/operating_model/cells/base_2026q3_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2026q3_series_a_cash:base/caseNonebase
/operating_model/cells/base_2026q3_series_a_cash:base/idNonebase_2026q3_series_a_cash
/operating_model/cells/base_2026q3_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2026q3_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2026q3_series_a_cash:base/periodNone2026Q3
/operating_model/cells/base_2026q3_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_series_a_cash:base/valueNone135.0
/operating_model/cells/base_2026q3_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_share_growth:base/caseNonebase
/operating_model/cells/base_2026q3_share_growth:base/idNonebase_2026q3_share_growth
/operating_model/cells/base_2026q3_share_growth:base/kindNoneassumption
/operating_model/cells/base_2026q3_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2026q3_share_growth:base/periodNone2026Q3
/operating_model/cells/base_2026q3_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2026q3_share_growth:base/valueNone0.0
/operating_model/cells/base_2026q3_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2026q3_shares:base/caseNonebase
/operating_model/cells/base_2026q3_shares:base/formula/opNonesum
/operating_model/cells/base_2026q3_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2026q3_shares:base/formula/refs/1Nonebase_2026q3_share_growth
/operating_model/cells/base_2026q3_shares:base/idNonebase_2026q3_shares
/operating_model/cells/base_2026q3_shares:base/kindNonederived
/operating_model/cells/base_2026q3_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2026q3_shares:base/periodNone2026Q3
/operating_model/cells/base_2026q3_shares:base/unitNoneshares_millions
/operating_model/cells/base_2026q3_shares:base/valueNone2500.092851
/operating_model/cells/base_2026q3_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2026q3_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2026q3_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2026q3_subsidiary_distributions:base/formula/refs/0Nonebase_2026q3_series_a_cash
/operating_model/cells/base_2026q3_subsidiary_distributions:base/formula/refs/1Nonebase_2026q3_nci_cash
/operating_model/cells/base_2026q3_subsidiary_distributions:base/idNonebase_2026q3_subsidiary_distributions
/operating_model/cells/base_2026q3_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2026q3_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2026q3_subsidiary_distributions:base/periodNone2026Q3
/operating_model/cells/base_2026q3_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_subsidiary_distributions:base/valueNone175.0
/operating_model/cells/base_2026q3_volume:base/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/base_2026q3_volume:base/caseNonebase
/operating_model/cells/base_2026q3_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_volume:base/formula/refs/0Noneh2_volume
/operating_model/cells/base_2026q3_volume:base/formula/refs/1Nonebase_2026q3_half
/operating_model/cells/base_2026q3_volume:base/formula/refs/2Nonebase_2026q3_execution
/operating_model/cells/base_2026q3_volume:base/idNonebase_2026q3_volume
/operating_model/cells/base_2026q3_volume:base/kindNonederived
/operating_model/cells/base_2026q3_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2026q3_volume:base/periodNone2026Q3
/operating_model/cells/base_2026q3_volume:base/unitNoneratio
/operating_model/cells/base_2026q3_volume:base/valueNone463.05
/operating_model/cells/base_2026q3_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_wc_use:base/caseNonebase
/operating_model/cells/base_2026q3_wc_use:base/idNonebase_2026q3_wc_use
/operating_model/cells/base_2026q3_wc_use:base/kindNoneassumption
/operating_model/cells/base_2026q3_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2026q3_wc_use:base/periodNone2026Q3
/operating_model/cells/base_2026q3_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_wc_use:base/valueNone150.0
/operating_model/cells/base_2026q4_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2026q4_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2026q4_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_adj_ebitda:base/formula/refs/0Nonebase_2026q4_fee_revenue
/operating_model/cells/base_2026q4_adj_ebitda:base/formula/refs/1Nonebase_2026q4_cash_costs
/operating_model/cells/base_2026q4_adj_ebitda:base/idNonebase_2026q4_adj_ebitda
/operating_model/cells/base_2026q4_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2026q4_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2026q4_adj_ebitda:base/periodNone2026Q4
/operating_model/cells/base_2026q4_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_adj_ebitda:base/valueNone2518.5
/operating_model/cells/base_2026q4_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2026q4_capex:base/caseNonebase
/operating_model/cells/base_2026q4_capex:base/idNonebase_2026q4_capex
/operating_model/cells/base_2026q4_capex:base/kindNoneassumption
/operating_model/cells/base_2026q4_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2026q4_capex:base/periodNone2026Q4
/operating_model/cells/base_2026q4_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_capex:base/valueNone3600.0
/operating_model/cells/base_2026q4_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2026q4_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2026q4_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_cash_after_claims:base/formula/refs/0Nonebase_2026q4_fcf
/operating_model/cells/base_2026q4_cash_after_claims:base/formula/refs/1Nonebase_2026q4_claims
/operating_model/cells/base_2026q4_cash_after_claims:base/idNonebase_2026q4_cash_after_claims
/operating_model/cells/base_2026q4_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2026q4_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2026q4_cash_after_claims:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_after_claims:base/valueNone-1976.6237140399999
/operating_model/cells/base_2026q4_cash_costs:base/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/base_2026q4_cash_costs:base/caseNonebase
/operating_model/cells/base_2026q4_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_cash_costs:base/formula/refs/0Noneh2_residual_cost
/operating_model/cells/base_2026q4_cash_costs:base/formula/refs/1Nonebase_2026q4_half
/operating_model/cells/base_2026q4_cash_costs:base/formula/refs/2Nonebase_2026q4_cost_factor
/operating_model/cells/base_2026q4_cash_costs:base/idNonebase_2026q4_cash_costs
/operating_model/cells/base_2026q4_cash_costs:base/kindNonederived
/operating_model/cells/base_2026q4_cash_costs:base/labelNoneResidual operating costs net of other contribution
/operating_model/cells/base_2026q4_cash_costs:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_costs:base/valueNone595.0275000000001
/operating_model/cells/base_2026q4_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2026q4_cash_interest:base/caseNonebase
/operating_model/cells/base_2026q4_cash_interest:base/idNonebase_2026q4_cash_interest
/operating_model/cells/base_2026q4_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2026q4_cash_interest:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_interest:base/valueNone475.0
/operating_model/cells/base_2026q4_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cash_tax:base/caseNonebase
/operating_model/cells/base_2026q4_cash_tax:base/idNonebase_2026q4_cash_tax
/operating_model/cells/base_2026q4_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2026q4_cash_tax:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_tax:base/valueNone100.0
/operating_model/cells/base_2026q4_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2026q4_cfo:base/caseNonebase
/operating_model/cells/base_2026q4_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_cfo:base/formula/refs/0Nonebase_2026q4_adj_ebitda
/operating_model/cells/base_2026q4_cfo:base/formula/refs/1Nonebase_2026q4_cfo_uses
/operating_model/cells/base_2026q4_cfo:base/idNonebase_2026q4_cfo
/operating_model/cells/base_2026q4_cfo:base/kindNonederived
/operating_model/cells/base_2026q4_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2026q4_cfo:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cfo:base/valueNone1843.5
/operating_model/cells/base_2026q4_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2026q4_cfo_uses:base/caseNonebase
/operating_model/cells/base_2026q4_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2026q4_cfo_uses:base/formula/refs/0Nonebase_2026q4_cash_interest
/operating_model/cells/base_2026q4_cfo_uses:base/formula/refs/1Nonebase_2026q4_cash_tax
/operating_model/cells/base_2026q4_cfo_uses:base/formula/refs/2Nonebase_2026q4_wc_use
/operating_model/cells/base_2026q4_cfo_uses:base/formula/refs/3Nonebase_2026q4_legal_cash_stress
/operating_model/cells/base_2026q4_cfo_uses:base/idNonebase_2026q4_cfo_uses
/operating_model/cells/base_2026q4_cfo_uses:base/kindNonederived
/operating_model/cells/base_2026q4_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2026q4_cfo_uses:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cfo_uses:base/valueNone675.0
/operating_model/cells/base_2026q4_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2026q4_claims:base/caseNonebase
/operating_model/cells/base_2026q4_claims:base/formula/opNonesum
/operating_model/cells/base_2026q4_claims:base/formula/refs/0Nonebase_2026q4_subsidiary_distributions
/operating_model/cells/base_2026q4_claims:base/formula/refs/1Nonebase_2026q4_common_dividends
/operating_model/cells/base_2026q4_claims:base/formula/refs/2Nonebase_2026q4_preferred_redemption
/operating_model/cells/base_2026q4_claims:base/formula/refs/3Nonebase_2026q4_debt_principal
/operating_model/cells/base_2026q4_claims:base/idNonebase_2026q4_claims
/operating_model/cells/base_2026q4_claims:base/kindNonederived
/operating_model/cells/base_2026q4_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2026q4_claims:base/periodNone2026Q4
/operating_model/cells/base_2026q4_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_claims:base/valueNone220.12371403999998
/operating_model/cells/base_2026q4_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2026q4_common_dividends:base/caseNonebase
/operating_model/cells/base_2026q4_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2026q4_common_dividends:base/formula/refs/1Nonebase_2026q4_dividend_share_factor
/operating_model/cells/base_2026q4_common_dividends:base/formula/refs/2Nonebase_2026q4_dividend_factor
/operating_model/cells/base_2026q4_common_dividends:base/idNonebase_2026q4_common_dividends
/operating_model/cells/base_2026q4_common_dividends:base/kindNonederived
/operating_model/cells/base_2026q4_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2026q4_common_dividends:base/periodNone2026Q4
/operating_model/cells/base_2026q4_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_common_dividends:base/valueNone100.12371403999998
/operating_model/cells/base_2026q4_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cost_factor:base/caseNonebase
/operating_model/cells/base_2026q4_cost_factor:base/idNonebase_2026q4_cost_factor
/operating_model/cells/base_2026q4_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2026q4_cost_factor:base/labelNoneCost delivery stress
/operating_model/cells/base_2026q4_cost_factor:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cost_factor:base/unitNoneratio
/operating_model/cells/base_2026q4_cost_factor:base/valueNone1.0
/operating_model/cells/base_2026q4_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_da:base/caseNonebase
/operating_model/cells/base_2026q4_da:base/idNonebase_2026q4_da
/operating_model/cells/base_2026q4_da:base/kindNoneassumption
/operating_model/cells/base_2026q4_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2026q4_da:base/periodNone2026Q4
/operating_model/cells/base_2026q4_da:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_da:base/valueNone295.0
/operating_model/cells/base_2026q4_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2026q4_debt_principal:base/caseNonebase
/operating_model/cells/base_2026q4_debt_principal:base/idNonebase_2026q4_debt_principal
/operating_model/cells/base_2026q4_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2026q4_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2026q4_debt_principal:base/periodNone2026Q4
/operating_model/cells/base_2026q4_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_debt_principal:base/valueNone80.0
/operating_model/cells/base_2026q4_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2026q4_dividend_factor:base/caseNonebase
/operating_model/cells/base_2026q4_dividend_factor:base/idNonebase_2026q4_dividend_factor
/operating_model/cells/base_2026q4_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2026q4_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2026q4_dividend_factor:base/periodNone2026Q4
/operating_model/cells/base_2026q4_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2026q4_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2026q4_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2026q4_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2026q4_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2026q4_dividend_share_factor:base/formula/refs/0Nonebase_2026q4_shares
/operating_model/cells/base_2026q4_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2026q4_dividend_share_factor:base/idNonebase_2026q4_dividend_share_factor
/operating_model/cells/base_2026q4_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2026q4_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2026q4_dividend_share_factor:base/periodNone2026Q4
/operating_model/cells/base_2026q4_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2026q4_dividend_share_factor:base/valueNone1.0011999554331752
/operating_model/cells/base_2026q4_execution:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_execution:base/caseNonebase
/operating_model/cells/base_2026q4_execution:base/idNonebase_2026q4_execution
/operating_model/cells/base_2026q4_execution:base/kindNoneassumption
/operating_model/cells/base_2026q4_execution:base/labelNoneRecognized volume delivery
/operating_model/cells/base_2026q4_execution:base/periodNone2026Q4
/operating_model/cells/base_2026q4_execution:base/unitNoneratio
/operating_model/cells/base_2026q4_execution:base/valueNone1.0
/operating_model/cells/base_2026q4_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2026q4_fcf:base/caseNonebase
/operating_model/cells/base_2026q4_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_fcf:base/formula/refs/0Nonebase_2026q4_cfo
/operating_model/cells/base_2026q4_fcf:base/formula/refs/1Nonebase_2026q4_capex
/operating_model/cells/base_2026q4_fcf:base/idNonebase_2026q4_fcf
/operating_model/cells/base_2026q4_fcf:base/kindNonederived
/operating_model/cells/base_2026q4_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2026q4_fcf:base/periodNone2026Q4
/operating_model/cells/base_2026q4_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_fcf:base/valueNone-1756.5
/operating_model/cells/base_2026q4_fee_revenue:base/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/base_2026q4_fee_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q4_fee_revenue:base/formula/refs/0Nonebase_2026q4_fixed_fees
/operating_model/cells/base_2026q4_fee_revenue:base/formula/refs/1Nonebase_2026q4_merchant_fees
/operating_model/cells/base_2026q4_fee_revenue:base/idNonebase_2026q4_fee_revenue
/operating_model/cells/base_2026q4_fee_revenue:base/kindNonederived
/operating_model/cells/base_2026q4_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2026q4_fee_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_fee_revenue:base/valueNone3113.5275
/operating_model/cells/base_2026q4_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2026q4_feed_gas:base/caseNonebase
/operating_model/cells/base_2026q4_feed_gas:base/idNonebase_2026q4_feed_gas
/operating_model/cells/base_2026q4_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2026q4_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2026q4_feed_gas:base/periodNone2026Q4
/operating_model/cells/base_2026q4_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_feed_gas:base/valueNone4.0
/operating_model/cells/base_2026q4_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2026q4_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2026q4_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_feed_gas_recovery:base/formula/refs/0Nonebase_2026q4_volume
/operating_model/cells/base_2026q4_feed_gas_recovery:base/formula/refs/1Nonebase_2026q4_feed_gas
/operating_model/cells/base_2026q4_feed_gas_recovery:base/idNonebase_2026q4_feed_gas_recovery
/operating_model/cells/base_2026q4_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2026q4_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2026q4_feed_gas_recovery:base/periodNone2026Q4
/operating_model/cells/base_2026q4_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_feed_gas_recovery:base/valueNone1852.2
/operating_model/cells/base_2026q4_fixed_fees:base/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/base_2026q4_fixed_fees:base/caseNonebase
/operating_model/cells/base_2026q4_fixed_fees:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_fixed_fees:base/formula/refs/0Nonebase_2026q4_fixed_volume
/operating_model/cells/base_2026q4_fixed_fees:base/formula/refs/1Nonecontracted_fee
/operating_model/cells/base_2026q4_fixed_fees:base/idNonebase_2026q4_fixed_fees
/operating_model/cells/base_2026q4_fixed_fees:base/kindNonederived
/operating_model/cells/base_2026q4_fixed_fees:base/labelNoneContracted fee revenue
/operating_model/cells/base_2026q4_fixed_fees:base/periodNone2026Q4
/operating_model/cells/base_2026q4_fixed_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_fixed_fees:base/valueNone1846.0275
/operating_model/cells/base_2026q4_fixed_volume:base/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/base_2026q4_fixed_volume:base/caseNonebase
/operating_model/cells/base_2026q4_fixed_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_fixed_volume:base/formula/refs/0Nonecontracted_volume
/operating_model/cells/base_2026q4_fixed_volume:base/formula/refs/1Nonebase_2026q4_half
/operating_model/cells/base_2026q4_fixed_volume:base/formula/refs/2Nonebase_2026q4_execution
/operating_model/cells/base_2026q4_fixed_volume:base/idNonebase_2026q4_fixed_volume
/operating_model/cells/base_2026q4_fixed_volume:base/kindNonederived
/operating_model/cells/base_2026q4_fixed_volume:base/labelNoneContracted fee volume TBtu
/operating_model/cells/base_2026q4_fixed_volume:base/periodNone2026Q4
/operating_model/cells/base_2026q4_fixed_volume:base/unitNoneratio
/operating_model/cells/base_2026q4_fixed_volume:base/valueNone365.55
/operating_model/cells/base_2026q4_half:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_half:base/caseNonebase
/operating_model/cells/base_2026q4_half:base/idNonebase_2026q4_half
/operating_model/cells/base_2026q4_half:base/kindNoneassumption
/operating_model/cells/base_2026q4_half:base/labelNoneH2 quarterly allocation
/operating_model/cells/base_2026q4_half:base/periodNone2026Q4
/operating_model/cells/base_2026q4_half:base/unitNoneratio
/operating_model/cells/base_2026q4_half:base/valueNone0.5
/operating_model/cells/base_2026q4_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2026q4_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2026q4_legal_cash_stress:base/idNonebase_2026q4_legal_cash_stress
/operating_model/cells/base_2026q4_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2026q4_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2026q4_legal_cash_stress:base/periodNone2026Q4
/operating_model/cells/base_2026q4_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2026q4_merchant_fee:base/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/base_2026q4_merchant_fee:base/caseNonebase
/operating_model/cells/base_2026q4_merchant_fee:base/idNonebase_2026q4_merchant_fee
/operating_model/cells/base_2026q4_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2026q4_merchant_fee:base/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/base_2026q4_merchant_fee:base/periodNone2026Q4
/operating_model/cells/base_2026q4_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_merchant_fee:base/valueNone13.0
/operating_model/cells/base_2026q4_merchant_fees:base/basisNoneUnsold price scenario.
/operating_model/cells/base_2026q4_merchant_fees:base/caseNonebase
/operating_model/cells/base_2026q4_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_merchant_fees:base/formula/refs/0Nonebase_2026q4_merchant_volume
/operating_model/cells/base_2026q4_merchant_fees:base/formula/refs/1Nonebase_2026q4_merchant_fee
/operating_model/cells/base_2026q4_merchant_fees:base/idNonebase_2026q4_merchant_fees
/operating_model/cells/base_2026q4_merchant_fees:base/kindNonederived
/operating_model/cells/base_2026q4_merchant_fees:base/labelNoneUnsold fee revenue
/operating_model/cells/base_2026q4_merchant_fees:base/periodNone2026Q4
/operating_model/cells/base_2026q4_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_merchant_fees:base/valueNone1267.5
/operating_model/cells/base_2026q4_merchant_volume:base/basisNoneEquivalent volume sensitivity.
/operating_model/cells/base_2026q4_merchant_volume:base/caseNonebase
/operating_model/cells/base_2026q4_merchant_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_merchant_volume:base/formula/refs/0Noneunsold_volume
/operating_model/cells/base_2026q4_merchant_volume:base/formula/refs/1Nonebase_2026q4_half
/operating_model/cells/base_2026q4_merchant_volume:base/formula/refs/2Nonebase_2026q4_execution
/operating_model/cells/base_2026q4_merchant_volume:base/idNonebase_2026q4_merchant_volume
/operating_model/cells/base_2026q4_merchant_volume:base/kindNonederived
/operating_model/cells/base_2026q4_merchant_volume:base/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/base_2026q4_merchant_volume:base/periodNone2026Q4
/operating_model/cells/base_2026q4_merchant_volume:base/unitNoneratio
/operating_model/cells/base_2026q4_merchant_volume:base/valueNone97.5
/operating_model/cells/base_2026q4_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_nci_cash:base/caseNonebase
/operating_model/cells/base_2026q4_nci_cash:base/idNonebase_2026q4_nci_cash
/operating_model/cells/base_2026q4_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2026q4_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2026q4_nci_cash:base/periodNone2026Q4
/operating_model/cells/base_2026q4_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_nci_cash:base/valueNone40.0
/operating_model/cells/base_2026q4_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2026q4_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2026q4_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2026q4_noncash_deductions:base/formula/refs/0Nonebase_2026q4_da
/operating_model/cells/base_2026q4_noncash_deductions:base/formula/refs/1Nonebase_2026q4_sbc
/operating_model/cells/base_2026q4_noncash_deductions:base/formula/refs/2Nonebase_2026q4_other_adjustments
/operating_model/cells/base_2026q4_noncash_deductions:base/idNonebase_2026q4_noncash_deductions
/operating_model/cells/base_2026q4_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2026q4_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2026q4_noncash_deductions:base/periodNone2026Q4
/operating_model/cells/base_2026q4_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_noncash_deductions:base/valueNone312.0
/operating_model/cells/base_2026q4_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2026q4_operating_income:base/caseNonebase
/operating_model/cells/base_2026q4_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_operating_income:base/formula/refs/0Nonebase_2026q4_adj_ebitda
/operating_model/cells/base_2026q4_operating_income:base/formula/refs/1Nonebase_2026q4_noncash_deductions
/operating_model/cells/base_2026q4_operating_income:base/idNonebase_2026q4_operating_income
/operating_model/cells/base_2026q4_operating_income:base/kindNonederived
/operating_model/cells/base_2026q4_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2026q4_operating_income:base/periodNone2026Q4
/operating_model/cells/base_2026q4_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_operating_income:base/valueNone2206.5
/operating_model/cells/base_2026q4_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2026q4_other_adjustments:base/caseNonebase
/operating_model/cells/base_2026q4_other_adjustments:base/idNonebase_2026q4_other_adjustments
/operating_model/cells/base_2026q4_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2026q4_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2026q4_other_adjustments:base/periodNone2026Q4
/operating_model/cells/base_2026q4_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_other_adjustments:base/valueNone0.0
/operating_model/cells/base_2026q4_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2026q4_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2026q4_preferred_redemption:base/idNonebase_2026q4_preferred_redemption
/operating_model/cells/base_2026q4_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2026q4_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2026q4_preferred_redemption:base/periodNone2026Q4
/operating_model/cells/base_2026q4_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2026q4_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2026q4_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q4_revenue:base/formula/refs/0Nonebase_2026q4_fee_revenue
/operating_model/cells/base_2026q4_revenue:base/formula/refs/1Nonebase_2026q4_feed_gas_recovery
/operating_model/cells/base_2026q4_revenue:base/idNonebase_2026q4_revenue
/operating_model/cells/base_2026q4_revenue:base/kindNonederived
/operating_model/cells/base_2026q4_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2026q4_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_revenue:base/valueNone4965.7275
/operating_model/cells/base_2026q4_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_sbc:base/caseNonebase
/operating_model/cells/base_2026q4_sbc:base/idNonebase_2026q4_sbc
/operating_model/cells/base_2026q4_sbc:base/kindNoneassumption
/operating_model/cells/base_2026q4_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2026q4_sbc:base/periodNone2026Q4
/operating_model/cells/base_2026q4_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_sbc:base/valueNone17.0
/operating_model/cells/base_2026q4_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2026q4_series_a_cash:base/caseNonebase
/operating_model/cells/base_2026q4_series_a_cash:base/idNonebase_2026q4_series_a_cash
/operating_model/cells/base_2026q4_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2026q4_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2026q4_series_a_cash:base/periodNone2026Q4
/operating_model/cells/base_2026q4_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_series_a_cash:base/valueNone0.0
/operating_model/cells/base_2026q4_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_share_growth:base/caseNonebase
/operating_model/cells/base_2026q4_share_growth:base/idNonebase_2026q4_share_growth
/operating_model/cells/base_2026q4_share_growth:base/kindNoneassumption
/operating_model/cells/base_2026q4_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2026q4_share_growth:base/periodNone2026Q4
/operating_model/cells/base_2026q4_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2026q4_share_growth:base/valueNone3.0
/operating_model/cells/base_2026q4_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2026q4_shares:base/caseNonebase
/operating_model/cells/base_2026q4_shares:base/formula/opNonesum
/operating_model/cells/base_2026q4_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2026q4_shares:base/formula/refs/1Nonebase_2026q4_share_growth
/operating_model/cells/base_2026q4_shares:base/idNonebase_2026q4_shares
/operating_model/cells/base_2026q4_shares:base/kindNonederived
/operating_model/cells/base_2026q4_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2026q4_shares:base/periodNone2026Q4
/operating_model/cells/base_2026q4_shares:base/unitNoneshares_millions
/operating_model/cells/base_2026q4_shares:base/valueNone2503.092851
/operating_model/cells/base_2026q4_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2026q4_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2026q4_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2026q4_subsidiary_distributions:base/formula/refs/0Nonebase_2026q4_series_a_cash
/operating_model/cells/base_2026q4_subsidiary_distributions:base/formula/refs/1Nonebase_2026q4_nci_cash
/operating_model/cells/base_2026q4_subsidiary_distributions:base/idNonebase_2026q4_subsidiary_distributions
/operating_model/cells/base_2026q4_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2026q4_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2026q4_subsidiary_distributions:base/periodNone2026Q4
/operating_model/cells/base_2026q4_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_subsidiary_distributions:base/valueNone40.0
/operating_model/cells/base_2026q4_volume:base/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/base_2026q4_volume:base/caseNonebase
/operating_model/cells/base_2026q4_volume:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_volume:base/formula/refs/0Noneh2_volume
/operating_model/cells/base_2026q4_volume:base/formula/refs/1Nonebase_2026q4_half
/operating_model/cells/base_2026q4_volume:base/formula/refs/2Nonebase_2026q4_execution
/operating_model/cells/base_2026q4_volume:base/idNonebase_2026q4_volume
/operating_model/cells/base_2026q4_volume:base/kindNonederived
/operating_model/cells/base_2026q4_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2026q4_volume:base/periodNone2026Q4
/operating_model/cells/base_2026q4_volume:base/unitNoneratio
/operating_model/cells/base_2026q4_volume:base/valueNone463.05
/operating_model/cells/base_2026q4_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_wc_use:base/caseNonebase
/operating_model/cells/base_2026q4_wc_use:base/idNonebase_2026q4_wc_use
/operating_model/cells/base_2026q4_wc_use:base/kindNoneassumption
/operating_model/cells/base_2026q4_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2026q4_wc_use:base/periodNone2026Q4
/operating_model/cells/base_2026q4_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_wc_use:base/valueNone100.0
/operating_model/cells/base_2027q1_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2027q1_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2027q1_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_adj_ebitda:base/formula/refs/0Nonebase_2027q1_fee_revenue
/operating_model/cells/base_2027q1_adj_ebitda:base/formula/refs/1Nonebase_2027q1_cash_costs
/operating_model/cells/base_2027q1_adj_ebitda:base/idNonebase_2027q1_adj_ebitda
/operating_model/cells/base_2027q1_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2027q1_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2027q1_adj_ebitda:base/periodNone2027Q1
/operating_model/cells/base_2027q1_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_adj_ebitda:base/valueNone1953.7375000000002
/operating_model/cells/base_2027q1_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2027q1_capex:base/caseNonebase
/operating_model/cells/base_2027q1_capex:base/idNonebase_2027q1_capex
/operating_model/cells/base_2027q1_capex:base/kindNoneassumption
/operating_model/cells/base_2027q1_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2027q1_capex:base/periodNone2027Q1
/operating_model/cells/base_2027q1_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_capex:base/valueNone3400.0
/operating_model/cells/base_2027q1_cargo_baseline:base/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/base_2027q1_cargo_baseline:base/caseNonebase
/operating_model/cells/base_2027q1_cargo_baseline:base/idNonebase_2027q1_cargo_baseline
/operating_model/cells/base_2027q1_cargo_baseline:base/kindNoneassumption
/operating_model/cells/base_2027q1_cargo_baseline:base/labelNoneStandalone project export-cargo plan
/operating_model/cells/base_2027q1_cargo_baseline:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cargo_baseline:base/unitNoneratio
/operating_model/cells/base_2027q1_cargo_baseline:base/valueNone130.0
/operating_model/cells/base_2027q1_cargos:base/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/base_2027q1_cargos:base/caseNonebase
/operating_model/cells/base_2027q1_cargos:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_cargos:base/formula/refs/0Nonebase_2027q1_cargo_baseline
/operating_model/cells/base_2027q1_cargos:base/formula/refs/1Nonebase_2027q1_volume_factor
/operating_model/cells/base_2027q1_cargos:base/idNonebase_2027q1_cargos
/operating_model/cells/base_2027q1_cargos:base/kindNonederived
/operating_model/cells/base_2027q1_cargos:base/labelNoneExported cargos
/operating_model/cells/base_2027q1_cargos:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cargos:base/unitNoneratio
/operating_model/cells/base_2027q1_cargos:base/valueNone130.0
/operating_model/cells/base_2027q1_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2027q1_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2027q1_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_cash_after_claims:base/formula/refs/0Nonebase_2027q1_fcf
/operating_model/cells/base_2027q1_cash_after_claims:base/formula/refs/1Nonebase_2027q1_claims
/operating_model/cells/base_2027q1_cash_after_claims:base/idNonebase_2027q1_cash_after_claims
/operating_model/cells/base_2027q1_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2027q1_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2027q1_cash_after_claims:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_after_claims:base/valueNone-2646.5062140399996
/operating_model/cells/base_2027q1_cash_costs:base/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/base_2027q1_cash_costs:base/caseNonebase
/operating_model/cells/base_2027q1_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_cash_costs:base/formula/refs/0Nonebase_2027q1_cost_budget
/operating_model/cells/base_2027q1_cash_costs:base/formula/refs/1Nonebase_2027q1_cost_factor
/operating_model/cells/base_2027q1_cash_costs:base/idNonebase_2027q1_cash_costs
/operating_model/cells/base_2027q1_cash_costs:base/kindNonederived
/operating_model/cells/base_2027q1_cash_costs:base/labelNoneOperating costs net of other contribution
/operating_model/cells/base_2027q1_cash_costs:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_costs:base/valueNone650.0
/operating_model/cells/base_2027q1_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2027q1_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q1_cash_interest:base/idNonebase_2027q1_cash_interest
/operating_model/cells/base_2027q1_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2027q1_cash_interest:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_interest:base/valueNone500.0
/operating_model/cells/base_2027q1_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q1_cash_tax:base/idNonebase_2027q1_cash_tax
/operating_model/cells/base_2027q1_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2027q1_cash_tax:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_tax:base/valueNone120.0
/operating_model/cells/base_2027q1_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2027q1_cfo:base/caseNonebase
/operating_model/cells/base_2027q1_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_cfo:base/formula/refs/0Nonebase_2027q1_adj_ebitda
/operating_model/cells/base_2027q1_cfo:base/formula/refs/1Nonebase_2027q1_cfo_uses
/operating_model/cells/base_2027q1_cfo:base/idNonebase_2027q1_cfo
/operating_model/cells/base_2027q1_cfo:base/kindNonederived
/operating_model/cells/base_2027q1_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q1_cfo:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cfo:base/valueNone1183.7375000000002
/operating_model/cells/base_2027q1_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2027q1_cfo_uses:base/caseNonebase
/operating_model/cells/base_2027q1_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2027q1_cfo_uses:base/formula/refs/0Nonebase_2027q1_cash_interest
/operating_model/cells/base_2027q1_cfo_uses:base/formula/refs/1Nonebase_2027q1_cash_tax
/operating_model/cells/base_2027q1_cfo_uses:base/formula/refs/2Nonebase_2027q1_wc_use
/operating_model/cells/base_2027q1_cfo_uses:base/formula/refs/3Nonebase_2027q1_legal_cash_stress
/operating_model/cells/base_2027q1_cfo_uses:base/idNonebase_2027q1_cfo_uses
/operating_model/cells/base_2027q1_cfo_uses:base/kindNonederived
/operating_model/cells/base_2027q1_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2027q1_cfo_uses:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cfo_uses:base/valueNone770.0
/operating_model/cells/base_2027q1_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2027q1_claims:base/caseNonebase
/operating_model/cells/base_2027q1_claims:base/formula/opNonesum
/operating_model/cells/base_2027q1_claims:base/formula/refs/0Nonebase_2027q1_subsidiary_distributions
/operating_model/cells/base_2027q1_claims:base/formula/refs/1Nonebase_2027q1_common_dividends
/operating_model/cells/base_2027q1_claims:base/formula/refs/2Nonebase_2027q1_preferred_redemption
/operating_model/cells/base_2027q1_claims:base/formula/refs/3Nonebase_2027q1_debt_principal
/operating_model/cells/base_2027q1_claims:base/idNonebase_2027q1_claims
/operating_model/cells/base_2027q1_claims:base/kindNonederived
/operating_model/cells/base_2027q1_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2027q1_claims:base/periodNone2027Q1
/operating_model/cells/base_2027q1_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_claims:base/valueNone430.24371404
/operating_model/cells/base_2027q1_commission_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q1_commission_fee:base/caseNonebase
/operating_model/cells/base_2027q1_commission_fee:base/idNonebase_2027q1_commission_fee
/operating_model/cells/base_2027q1_commission_fee:base/kindNoneassumption
/operating_model/cells/base_2027q1_commission_fee:base/labelNonecommission fee revenue per TBtu
/operating_model/cells/base_2027q1_commission_fee:base/periodNone2027Q1
/operating_model/cells/base_2027q1_commission_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_commission_fee:base/valueNone6.0
/operating_model/cells/base_2027q1_commission_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q1_commission_fees:base/caseNonebase
/operating_model/cells/base_2027q1_commission_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_commission_fees:base/formula/refs/0Nonebase_2027q1_volume
/operating_model/cells/base_2027q1_commission_fees:base/formula/refs/1Nonebase_2027q1_commission_share
/operating_model/cells/base_2027q1_commission_fees:base/formula/refs/2Nonebase_2027q1_commission_fee
/operating_model/cells/base_2027q1_commission_fees:base/idNonebase_2027q1_commission_fees
/operating_model/cells/base_2027q1_commission_fees:base/kindNonederived
/operating_model/cells/base_2027q1_commission_fees:base/labelNonecommission fee revenue
/operating_model/cells/base_2027q1_commission_fees:base/periodNone2027Q1
/operating_model/cells/base_2027q1_commission_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_commission_fees:base/valueNone286.65000000000003
/operating_model/cells/base_2027q1_commission_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_commission_share:base/caseNonebase
/operating_model/cells/base_2027q1_commission_share:base/idNonebase_2027q1_commission_share
/operating_model/cells/base_2027q1_commission_share:base/kindNoneassumption
/operating_model/cells/base_2027q1_commission_share:base/labelNonePrecontracted commissioning share
/operating_model/cells/base_2027q1_commission_share:base/periodNone2027Q1
/operating_model/cells/base_2027q1_commission_share:base/unitNoneratio
/operating_model/cells/base_2027q1_commission_share:base/valueNone0.1
/operating_model/cells/base_2027q1_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2027q1_common_dividends:base/caseNonebase
/operating_model/cells/base_2027q1_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2027q1_common_dividends:base/formula/refs/1Nonebase_2027q1_dividend_share_factor
/operating_model/cells/base_2027q1_common_dividends:base/formula/refs/2Nonebase_2027q1_dividend_factor
/operating_model/cells/base_2027q1_common_dividends:base/idNonebase_2027q1_common_dividends
/operating_model/cells/base_2027q1_common_dividends:base/kindNonederived
/operating_model/cells/base_2027q1_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2027q1_common_dividends:base/periodNone2027Q1
/operating_model/cells/base_2027q1_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_common_dividends:base/valueNone100.24371403999999
/operating_model/cells/base_2027q1_cost_budget:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cost_budget:base/caseNonebase
/operating_model/cells/base_2027q1_cost_budget:base/idNonebase_2027q1_cost_budget
/operating_model/cells/base_2027q1_cost_budget:base/kindNoneassumption
/operating_model/cells/base_2027q1_cost_budget:base/labelNoneOperating cost/contribution budget
/operating_model/cells/base_2027q1_cost_budget:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cost_budget:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cost_budget:base/valueNone650.0
/operating_model/cells/base_2027q1_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cost_factor:base/caseNonebase
/operating_model/cells/base_2027q1_cost_factor:base/idNonebase_2027q1_cost_factor
/operating_model/cells/base_2027q1_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2027q1_cost_factor:base/labelNoneCost execution stress
/operating_model/cells/base_2027q1_cost_factor:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cost_factor:base/unitNoneratio
/operating_model/cells/base_2027q1_cost_factor:base/valueNone1.0
/operating_model/cells/base_2027q1_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_da:base/caseNonebase
/operating_model/cells/base_2027q1_da:base/idNonebase_2027q1_da
/operating_model/cells/base_2027q1_da:base/kindNoneassumption
/operating_model/cells/base_2027q1_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2027q1_da:base/periodNone2027Q1
/operating_model/cells/base_2027q1_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_da:base/valueNone315.0
/operating_model/cells/base_2027q1_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2027q1_debt_principal:base/caseNonebase
/operating_model/cells/base_2027q1_debt_principal:base/idNonebase_2027q1_debt_principal
/operating_model/cells/base_2027q1_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2027q1_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2027q1_debt_principal:base/periodNone2027Q1
/operating_model/cells/base_2027q1_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_debt_principal:base/valueNone150.0
/operating_model/cells/base_2027q1_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2027q1_dividend_factor:base/caseNonebase
/operating_model/cells/base_2027q1_dividend_factor:base/idNonebase_2027q1_dividend_factor
/operating_model/cells/base_2027q1_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2027q1_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2027q1_dividend_factor:base/periodNone2027Q1
/operating_model/cells/base_2027q1_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2027q1_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2027q1_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2027q1_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2027q1_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2027q1_dividend_share_factor:base/formula/refs/0Nonebase_2027q1_shares
/operating_model/cells/base_2027q1_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2027q1_dividend_share_factor:base/idNonebase_2027q1_dividend_share_factor
/operating_model/cells/base_2027q1_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2027q1_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2027q1_dividend_share_factor:base/periodNone2027Q1
/operating_model/cells/base_2027q1_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2027q1_dividend_share_factor:base/valueNone1.0023999108663504
/operating_model/cells/base_2027q1_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2027q1_fcf:base/caseNonebase
/operating_model/cells/base_2027q1_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_fcf:base/formula/refs/0Nonebase_2027q1_cfo
/operating_model/cells/base_2027q1_fcf:base/formula/refs/1Nonebase_2027q1_capex
/operating_model/cells/base_2027q1_fcf:base/idNonebase_2027q1_fcf
/operating_model/cells/base_2027q1_fcf:base/kindNonederived
/operating_model/cells/base_2027q1_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2027q1_fcf:base/periodNone2027Q1
/operating_model/cells/base_2027q1_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_fcf:base/valueNone-2216.2625
/operating_model/cells/base_2027q1_fee_revenue:base/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/base_2027q1_fee_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q1_fee_revenue:base/formula/refs/0Nonebase_2027q1_spa_fees
/operating_model/cells/base_2027q1_fee_revenue:base/formula/refs/1Nonebase_2027q1_commission_fees
/operating_model/cells/base_2027q1_fee_revenue:base/formula/refs/2Nonebase_2027q1_merchant_fees
/operating_model/cells/base_2027q1_fee_revenue:base/idNonebase_2027q1_fee_revenue
/operating_model/cells/base_2027q1_fee_revenue:base/kindNonederived
/operating_model/cells/base_2027q1_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2027q1_fee_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_fee_revenue:base/valueNone2603.7375
/operating_model/cells/base_2027q1_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2027q1_feed_gas:base/caseNonebase
/operating_model/cells/base_2027q1_feed_gas:base/idNonebase_2027q1_feed_gas
/operating_model/cells/base_2027q1_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2027q1_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2027q1_feed_gas:base/periodNone2027Q1
/operating_model/cells/base_2027q1_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_feed_gas:base/valueNone3.5
/operating_model/cells/base_2027q1_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2027q1_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2027q1_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_feed_gas_recovery:base/formula/refs/0Nonebase_2027q1_volume
/operating_model/cells/base_2027q1_feed_gas_recovery:base/formula/refs/1Nonebase_2027q1_feed_gas
/operating_model/cells/base_2027q1_feed_gas_recovery:base/idNonebase_2027q1_feed_gas_recovery
/operating_model/cells/base_2027q1_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2027q1_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2027q1_feed_gas_recovery:base/periodNone2027Q1
/operating_model/cells/base_2027q1_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_feed_gas_recovery:base/valueNone1672.125
/operating_model/cells/base_2027q1_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2027q1_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2027q1_legal_cash_stress:base/idNonebase_2027q1_legal_cash_stress
/operating_model/cells/base_2027q1_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2027q1_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2027q1_legal_cash_stress:base/periodNone2027Q1
/operating_model/cells/base_2027q1_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2027q1_merchant_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q1_merchant_fee:base/caseNonebase
/operating_model/cells/base_2027q1_merchant_fee:base/idNonebase_2027q1_merchant_fee
/operating_model/cells/base_2027q1_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2027q1_merchant_fee:base/labelNonemerchant fee revenue per TBtu
/operating_model/cells/base_2027q1_merchant_fee:base/periodNone2027Q1
/operating_model/cells/base_2027q1_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_merchant_fee:base/valueNone9.0
/operating_model/cells/base_2027q1_merchant_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q1_merchant_fees:base/caseNonebase
/operating_model/cells/base_2027q1_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_merchant_fees:base/formula/refs/0Nonebase_2027q1_volume
/operating_model/cells/base_2027q1_merchant_fees:base/formula/refs/1Nonebase_2027q1_merchant_share
/operating_model/cells/base_2027q1_merchant_fees:base/formula/refs/2Nonebase_2027q1_merchant_fee
/operating_model/cells/base_2027q1_merchant_fees:base/idNonebase_2027q1_merchant_fees
/operating_model/cells/base_2027q1_merchant_fees:base/kindNonederived
/operating_model/cells/base_2027q1_merchant_fees:base/labelNonemerchant fee revenue
/operating_model/cells/base_2027q1_merchant_fees:base/periodNone2027Q1
/operating_model/cells/base_2027q1_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_merchant_fees:base/valueNone1719.9
/operating_model/cells/base_2027q1_merchant_share:base/basisNoneNo double-counted sales mix.
/operating_model/cells/base_2027q1_merchant_share:base/caseNonebase
/operating_model/cells/base_2027q1_merchant_share:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_merchant_share:base/formula/refs/0Nonebase_2027q1_one
/operating_model/cells/base_2027q1_merchant_share:base/formula/refs/1Nonebase_2027q1_nonmerchant_share
/operating_model/cells/base_2027q1_merchant_share:base/idNonebase_2027q1_merchant_share
/operating_model/cells/base_2027q1_merchant_share:base/kindNonederived
/operating_model/cells/base_2027q1_merchant_share:base/labelNoneRemaining merchant volume share
/operating_model/cells/base_2027q1_merchant_share:base/periodNone2027Q1
/operating_model/cells/base_2027q1_merchant_share:base/unitNoneratio
/operating_model/cells/base_2027q1_merchant_share:base/valueNone0.4
/operating_model/cells/base_2027q1_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_nci_cash:base/caseNonebase
/operating_model/cells/base_2027q1_nci_cash:base/idNonebase_2027q1_nci_cash
/operating_model/cells/base_2027q1_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2027q1_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2027q1_nci_cash:base/periodNone2027Q1
/operating_model/cells/base_2027q1_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_nci_cash:base/valueNone45.0
/operating_model/cells/base_2027q1_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2027q1_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2027q1_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2027q1_noncash_deductions:base/formula/refs/0Nonebase_2027q1_da
/operating_model/cells/base_2027q1_noncash_deductions:base/formula/refs/1Nonebase_2027q1_sbc
/operating_model/cells/base_2027q1_noncash_deductions:base/formula/refs/2Nonebase_2027q1_other_adjustments
/operating_model/cells/base_2027q1_noncash_deductions:base/idNonebase_2027q1_noncash_deductions
/operating_model/cells/base_2027q1_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2027q1_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2027q1_noncash_deductions:base/periodNone2027Q1
/operating_model/cells/base_2027q1_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_noncash_deductions:base/valueNone339.0
/operating_model/cells/base_2027q1_nonmerchant_share:base/basisNoneMutually exclusive price buckets.
/operating_model/cells/base_2027q1_nonmerchant_share:base/caseNonebase
/operating_model/cells/base_2027q1_nonmerchant_share:base/formula/opNonesum
/operating_model/cells/base_2027q1_nonmerchant_share:base/formula/refs/0Nonebase_2027q1_spa_share
/operating_model/cells/base_2027q1_nonmerchant_share:base/formula/refs/1Nonebase_2027q1_commission_share
/operating_model/cells/base_2027q1_nonmerchant_share:base/idNonebase_2027q1_nonmerchant_share
/operating_model/cells/base_2027q1_nonmerchant_share:base/kindNonederived
/operating_model/cells/base_2027q1_nonmerchant_share:base/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/base_2027q1_nonmerchant_share:base/periodNone2027Q1
/operating_model/cells/base_2027q1_nonmerchant_share:base/unitNoneratio
/operating_model/cells/base_2027q1_nonmerchant_share:base/valueNone0.6
/operating_model/cells/base_2027q1_one:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_one:base/caseNonebase
/operating_model/cells/base_2027q1_one:base/idNonebase_2027q1_one
/operating_model/cells/base_2027q1_one:base/kindNoneassumption
/operating_model/cells/base_2027q1_one:base/labelNoneAll recognized volume
/operating_model/cells/base_2027q1_one:base/periodNone2027Q1
/operating_model/cells/base_2027q1_one:base/unitNoneratio
/operating_model/cells/base_2027q1_one:base/valueNone1.0
/operating_model/cells/base_2027q1_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2027q1_operating_income:base/caseNonebase
/operating_model/cells/base_2027q1_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_operating_income:base/formula/refs/0Nonebase_2027q1_adj_ebitda
/operating_model/cells/base_2027q1_operating_income:base/formula/refs/1Nonebase_2027q1_noncash_deductions
/operating_model/cells/base_2027q1_operating_income:base/idNonebase_2027q1_operating_income
/operating_model/cells/base_2027q1_operating_income:base/kindNonederived
/operating_model/cells/base_2027q1_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2027q1_operating_income:base/periodNone2027Q1
/operating_model/cells/base_2027q1_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_operating_income:base/valueNone1614.7375000000002
/operating_model/cells/base_2027q1_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2027q1_other_adjustments:base/caseNonebase
/operating_model/cells/base_2027q1_other_adjustments:base/idNonebase_2027q1_other_adjustments
/operating_model/cells/base_2027q1_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2027q1_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2027q1_other_adjustments:base/periodNone2027Q1
/operating_model/cells/base_2027q1_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_other_adjustments:base/valueNone5.0
/operating_model/cells/base_2027q1_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2027q1_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2027q1_preferred_redemption:base/idNonebase_2027q1_preferred_redemption
/operating_model/cells/base_2027q1_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2027q1_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2027q1_preferred_redemption:base/periodNone2027Q1
/operating_model/cells/base_2027q1_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2027q1_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2027q1_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q1_revenue:base/formula/refs/0Nonebase_2027q1_fee_revenue
/operating_model/cells/base_2027q1_revenue:base/formula/refs/1Nonebase_2027q1_feed_gas_recovery
/operating_model/cells/base_2027q1_revenue:base/idNonebase_2027q1_revenue
/operating_model/cells/base_2027q1_revenue:base/kindNonederived
/operating_model/cells/base_2027q1_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2027q1_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_revenue:base/valueNone4275.8625
/operating_model/cells/base_2027q1_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_sbc:base/caseNonebase
/operating_model/cells/base_2027q1_sbc:base/idNonebase_2027q1_sbc
/operating_model/cells/base_2027q1_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q1_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2027q1_sbc:base/periodNone2027Q1
/operating_model/cells/base_2027q1_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_sbc:base/valueNone19.0
/operating_model/cells/base_2027q1_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2027q1_series_a_cash:base/caseNonebase
/operating_model/cells/base_2027q1_series_a_cash:base/idNonebase_2027q1_series_a_cash
/operating_model/cells/base_2027q1_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2027q1_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2027q1_series_a_cash:base/periodNone2027Q1
/operating_model/cells/base_2027q1_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_series_a_cash:base/valueNone135.0
/operating_model/cells/base_2027q1_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_share_growth:base/caseNonebase
/operating_model/cells/base_2027q1_share_growth:base/idNonebase_2027q1_share_growth
/operating_model/cells/base_2027q1_share_growth:base/kindNoneassumption
/operating_model/cells/base_2027q1_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2027q1_share_growth:base/periodNone2027Q1
/operating_model/cells/base_2027q1_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2027q1_share_growth:base/valueNone6.0
/operating_model/cells/base_2027q1_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2027q1_shares:base/caseNonebase
/operating_model/cells/base_2027q1_shares:base/formula/opNonesum
/operating_model/cells/base_2027q1_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2027q1_shares:base/formula/refs/1Nonebase_2027q1_share_growth
/operating_model/cells/base_2027q1_shares:base/idNonebase_2027q1_shares
/operating_model/cells/base_2027q1_shares:base/kindNonederived
/operating_model/cells/base_2027q1_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2027q1_shares:base/periodNone2027Q1
/operating_model/cells/base_2027q1_shares:base/unitNoneshares_millions
/operating_model/cells/base_2027q1_shares:base/valueNone2506.092851
/operating_model/cells/base_2027q1_spa_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q1_spa_fee:base/caseNonebase
/operating_model/cells/base_2027q1_spa_fee:base/idNonebase_2027q1_spa_fee
/operating_model/cells/base_2027q1_spa_fee:base/kindNoneassumption
/operating_model/cells/base_2027q1_spa_fee:base/labelNonespa fee revenue per TBtu
/operating_model/cells/base_2027q1_spa_fee:base/periodNone2027Q1
/operating_model/cells/base_2027q1_spa_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_spa_fee:base/valueNone2.5
/operating_model/cells/base_2027q1_spa_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q1_spa_fees:base/caseNonebase
/operating_model/cells/base_2027q1_spa_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_spa_fees:base/formula/refs/0Nonebase_2027q1_volume
/operating_model/cells/base_2027q1_spa_fees:base/formula/refs/1Nonebase_2027q1_spa_share
/operating_model/cells/base_2027q1_spa_fees:base/formula/refs/2Nonebase_2027q1_spa_fee
/operating_model/cells/base_2027q1_spa_fees:base/idNonebase_2027q1_spa_fees
/operating_model/cells/base_2027q1_spa_fees:base/kindNonederived
/operating_model/cells/base_2027q1_spa_fees:base/labelNonespa fee revenue
/operating_model/cells/base_2027q1_spa_fees:base/periodNone2027Q1
/operating_model/cells/base_2027q1_spa_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_spa_fees:base/valueNone597.1875
/operating_model/cells/base_2027q1_spa_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_spa_share:base/caseNonebase
/operating_model/cells/base_2027q1_spa_share:base/idNonebase_2027q1_spa_share
/operating_model/cells/base_2027q1_spa_share:base/kindNoneassumption
/operating_model/cells/base_2027q1_spa_share:base/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/base_2027q1_spa_share:base/periodNone2027Q1
/operating_model/cells/base_2027q1_spa_share:base/unitNoneratio
/operating_model/cells/base_2027q1_spa_share:base/valueNone0.5
/operating_model/cells/base_2027q1_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2027q1_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2027q1_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2027q1_subsidiary_distributions:base/formula/refs/0Nonebase_2027q1_series_a_cash
/operating_model/cells/base_2027q1_subsidiary_distributions:base/formula/refs/1Nonebase_2027q1_nci_cash
/operating_model/cells/base_2027q1_subsidiary_distributions:base/idNonebase_2027q1_subsidiary_distributions
/operating_model/cells/base_2027q1_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2027q1_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2027q1_subsidiary_distributions:base/periodNone2027Q1
/operating_model/cells/base_2027q1_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_subsidiary_distributions:base/valueNone180.0
/operating_model/cells/base_2027q1_volume:base/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/base_2027q1_volume:base/caseNonebase
/operating_model/cells/base_2027q1_volume:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_volume:base/formula/refs/0Nonebase_2027q1_cargos
/operating_model/cells/base_2027q1_volume:base/formula/refs/1Nonecargo_size
/operating_model/cells/base_2027q1_volume:base/formula/refs/2Nonesales_timing
/operating_model/cells/base_2027q1_volume:base/idNonebase_2027q1_volume
/operating_model/cells/base_2027q1_volume:base/kindNonederived
/operating_model/cells/base_2027q1_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2027q1_volume:base/periodNone2027Q1
/operating_model/cells/base_2027q1_volume:base/unitNoneratio
/operating_model/cells/base_2027q1_volume:base/valueNone477.75
/operating_model/cells/base_2027q1_volume_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_volume_factor:base/caseNonebase
/operating_model/cells/base_2027q1_volume_factor:base/idNonebase_2027q1_volume_factor
/operating_model/cells/base_2027q1_volume_factor:base/kindNoneassumption
/operating_model/cells/base_2027q1_volume_factor:base/labelNoneCargo delivery factor
/operating_model/cells/base_2027q1_volume_factor:base/periodNone2027Q1
/operating_model/cells/base_2027q1_volume_factor:base/unitNoneratio
/operating_model/cells/base_2027q1_volume_factor:base/valueNone1.0
/operating_model/cells/base_2027q1_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_wc_use:base/caseNonebase
/operating_model/cells/base_2027q1_wc_use:base/idNonebase_2027q1_wc_use
/operating_model/cells/base_2027q1_wc_use:base/kindNoneassumption
/operating_model/cells/base_2027q1_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2027q1_wc_use:base/periodNone2027Q1
/operating_model/cells/base_2027q1_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_wc_use:base/valueNone150.0
/operating_model/cells/base_2027q2_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2027q2_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2027q2_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_adj_ebitda:base/formula/refs/0Nonebase_2027q2_fee_revenue
/operating_model/cells/base_2027q2_adj_ebitda:base/formula/refs/1Nonebase_2027q2_cash_costs
/operating_model/cells/base_2027q2_adj_ebitda:base/idNonebase_2027q2_adj_ebitda
/operating_model/cells/base_2027q2_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2027q2_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2027q2_adj_ebitda:base/periodNone2027Q2
/operating_model/cells/base_2027q2_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_adj_ebitda:base/valueNone1706.4000000000005
/operating_model/cells/base_2027q2_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2027q2_capex:base/caseNonebase
/operating_model/cells/base_2027q2_capex:base/idNonebase_2027q2_capex
/operating_model/cells/base_2027q2_capex:base/kindNoneassumption
/operating_model/cells/base_2027q2_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2027q2_capex:base/periodNone2027Q2
/operating_model/cells/base_2027q2_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_capex:base/valueNone3200.0
/operating_model/cells/base_2027q2_cargo_baseline:base/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/base_2027q2_cargo_baseline:base/caseNonebase
/operating_model/cells/base_2027q2_cargo_baseline:base/idNonebase_2027q2_cargo_baseline
/operating_model/cells/base_2027q2_cargo_baseline:base/kindNoneassumption
/operating_model/cells/base_2027q2_cargo_baseline:base/labelNoneStandalone project export-cargo plan
/operating_model/cells/base_2027q2_cargo_baseline:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cargo_baseline:base/unitNoneratio
/operating_model/cells/base_2027q2_cargo_baseline:base/valueNone135.0
/operating_model/cells/base_2027q2_cargos:base/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/base_2027q2_cargos:base/caseNonebase
/operating_model/cells/base_2027q2_cargos:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_cargos:base/formula/refs/0Nonebase_2027q2_cargo_baseline
/operating_model/cells/base_2027q2_cargos:base/formula/refs/1Nonebase_2027q2_volume_factor
/operating_model/cells/base_2027q2_cargos:base/idNonebase_2027q2_cargos
/operating_model/cells/base_2027q2_cargos:base/kindNonederived
/operating_model/cells/base_2027q2_cargos:base/labelNoneExported cargos
/operating_model/cells/base_2027q2_cargos:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cargos:base/unitNoneratio
/operating_model/cells/base_2027q2_cargos:base/valueNone135.0
/operating_model/cells/base_2027q2_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2027q2_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2027q2_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_cash_after_claims:base/formula/refs/0Nonebase_2027q2_fcf
/operating_model/cells/base_2027q2_cash_after_claims:base/formula/refs/1Nonebase_2027q2_claims
/operating_model/cells/base_2027q2_cash_after_claims:base/idNonebase_2027q2_cash_after_claims
/operating_model/cells/base_2027q2_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2027q2_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2027q2_cash_after_claims:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_after_claims:base/valueNone-2513.9637140399996
/operating_model/cells/base_2027q2_cash_costs:base/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/base_2027q2_cash_costs:base/caseNonebase
/operating_model/cells/base_2027q2_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_cash_costs:base/formula/refs/0Nonebase_2027q2_cost_budget
/operating_model/cells/base_2027q2_cash_costs:base/formula/refs/1Nonebase_2027q2_cost_factor
/operating_model/cells/base_2027q2_cash_costs:base/idNonebase_2027q2_cash_costs
/operating_model/cells/base_2027q2_cash_costs:base/kindNonederived
/operating_model/cells/base_2027q2_cash_costs:base/labelNoneOperating costs net of other contribution
/operating_model/cells/base_2027q2_cash_costs:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_costs:base/valueNone675.0
/operating_model/cells/base_2027q2_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2027q2_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q2_cash_interest:base/idNonebase_2027q2_cash_interest
/operating_model/cells/base_2027q2_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2027q2_cash_interest:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_interest:base/valueNone525.0
/operating_model/cells/base_2027q2_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q2_cash_tax:base/idNonebase_2027q2_cash_tax
/operating_model/cells/base_2027q2_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2027q2_cash_tax:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_tax:base/valueNone120.0
/operating_model/cells/base_2027q2_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2027q2_cfo:base/caseNonebase
/operating_model/cells/base_2027q2_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_cfo:base/formula/refs/0Nonebase_2027q2_adj_ebitda
/operating_model/cells/base_2027q2_cfo:base/formula/refs/1Nonebase_2027q2_cfo_uses
/operating_model/cells/base_2027q2_cfo:base/idNonebase_2027q2_cfo
/operating_model/cells/base_2027q2_cfo:base/kindNonederived
/operating_model/cells/base_2027q2_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q2_cfo:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cfo:base/valueNone981.4000000000005
/operating_model/cells/base_2027q2_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2027q2_cfo_uses:base/caseNonebase
/operating_model/cells/base_2027q2_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2027q2_cfo_uses:base/formula/refs/0Nonebase_2027q2_cash_interest
/operating_model/cells/base_2027q2_cfo_uses:base/formula/refs/1Nonebase_2027q2_cash_tax
/operating_model/cells/base_2027q2_cfo_uses:base/formula/refs/2Nonebase_2027q2_wc_use
/operating_model/cells/base_2027q2_cfo_uses:base/formula/refs/3Nonebase_2027q2_legal_cash_stress
/operating_model/cells/base_2027q2_cfo_uses:base/idNonebase_2027q2_cfo_uses
/operating_model/cells/base_2027q2_cfo_uses:base/kindNonederived
/operating_model/cells/base_2027q2_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2027q2_cfo_uses:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cfo_uses:base/valueNone725.0
/operating_model/cells/base_2027q2_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2027q2_claims:base/caseNonebase
/operating_model/cells/base_2027q2_claims:base/formula/opNonesum
/operating_model/cells/base_2027q2_claims:base/formula/refs/0Nonebase_2027q2_subsidiary_distributions
/operating_model/cells/base_2027q2_claims:base/formula/refs/1Nonebase_2027q2_common_dividends
/operating_model/cells/base_2027q2_claims:base/formula/refs/2Nonebase_2027q2_preferred_redemption
/operating_model/cells/base_2027q2_claims:base/formula/refs/3Nonebase_2027q2_debt_principal
/operating_model/cells/base_2027q2_claims:base/idNonebase_2027q2_claims
/operating_model/cells/base_2027q2_claims:base/kindNonederived
/operating_model/cells/base_2027q2_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2027q2_claims:base/periodNone2027Q2
/operating_model/cells/base_2027q2_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_claims:base/valueNone295.36371404
/operating_model/cells/base_2027q2_commission_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q2_commission_fee:base/caseNonebase
/operating_model/cells/base_2027q2_commission_fee:base/idNonebase_2027q2_commission_fee
/operating_model/cells/base_2027q2_commission_fee:base/kindNoneassumption
/operating_model/cells/base_2027q2_commission_fee:base/labelNonecommission fee revenue per TBtu
/operating_model/cells/base_2027q2_commission_fee:base/periodNone2027Q2
/operating_model/cells/base_2027q2_commission_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_commission_fee:base/valueNone6.0
/operating_model/cells/base_2027q2_commission_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q2_commission_fees:base/caseNonebase
/operating_model/cells/base_2027q2_commission_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_commission_fees:base/formula/refs/0Nonebase_2027q2_volume
/operating_model/cells/base_2027q2_commission_fees:base/formula/refs/1Nonebase_2027q2_commission_share
/operating_model/cells/base_2027q2_commission_fees:base/formula/refs/2Nonebase_2027q2_commission_fee
/operating_model/cells/base_2027q2_commission_fees:base/idNonebase_2027q2_commission_fees
/operating_model/cells/base_2027q2_commission_fees:base/kindNonederived
/operating_model/cells/base_2027q2_commission_fees:base/labelNonecommission fee revenue
/operating_model/cells/base_2027q2_commission_fees:base/periodNone2027Q2
/operating_model/cells/base_2027q2_commission_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_commission_fees:base/valueNone297.675
/operating_model/cells/base_2027q2_commission_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_commission_share:base/caseNonebase
/operating_model/cells/base_2027q2_commission_share:base/idNonebase_2027q2_commission_share
/operating_model/cells/base_2027q2_commission_share:base/kindNoneassumption
/operating_model/cells/base_2027q2_commission_share:base/labelNonePrecontracted commissioning share
/operating_model/cells/base_2027q2_commission_share:base/periodNone2027Q2
/operating_model/cells/base_2027q2_commission_share:base/unitNoneratio
/operating_model/cells/base_2027q2_commission_share:base/valueNone0.1
/operating_model/cells/base_2027q2_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2027q2_common_dividends:base/caseNonebase
/operating_model/cells/base_2027q2_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2027q2_common_dividends:base/formula/refs/1Nonebase_2027q2_dividend_share_factor
/operating_model/cells/base_2027q2_common_dividends:base/formula/refs/2Nonebase_2027q2_dividend_factor
/operating_model/cells/base_2027q2_common_dividends:base/idNonebase_2027q2_common_dividends
/operating_model/cells/base_2027q2_common_dividends:base/kindNonederived
/operating_model/cells/base_2027q2_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2027q2_common_dividends:base/periodNone2027Q2
/operating_model/cells/base_2027q2_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_common_dividends:base/valueNone100.36371404
/operating_model/cells/base_2027q2_cost_budget:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cost_budget:base/caseNonebase
/operating_model/cells/base_2027q2_cost_budget:base/idNonebase_2027q2_cost_budget
/operating_model/cells/base_2027q2_cost_budget:base/kindNoneassumption
/operating_model/cells/base_2027q2_cost_budget:base/labelNoneOperating cost/contribution budget
/operating_model/cells/base_2027q2_cost_budget:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cost_budget:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cost_budget:base/valueNone675.0
/operating_model/cells/base_2027q2_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cost_factor:base/caseNonebase
/operating_model/cells/base_2027q2_cost_factor:base/idNonebase_2027q2_cost_factor
/operating_model/cells/base_2027q2_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2027q2_cost_factor:base/labelNoneCost execution stress
/operating_model/cells/base_2027q2_cost_factor:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cost_factor:base/unitNoneratio
/operating_model/cells/base_2027q2_cost_factor:base/valueNone1.0
/operating_model/cells/base_2027q2_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_da:base/caseNonebase
/operating_model/cells/base_2027q2_da:base/idNonebase_2027q2_da
/operating_model/cells/base_2027q2_da:base/kindNoneassumption
/operating_model/cells/base_2027q2_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2027q2_da:base/periodNone2027Q2
/operating_model/cells/base_2027q2_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_da:base/valueNone335.0
/operating_model/cells/base_2027q2_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2027q2_debt_principal:base/caseNonebase
/operating_model/cells/base_2027q2_debt_principal:base/idNonebase_2027q2_debt_principal
/operating_model/cells/base_2027q2_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2027q2_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2027q2_debt_principal:base/periodNone2027Q2
/operating_model/cells/base_2027q2_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_debt_principal:base/valueNone150.0
/operating_model/cells/base_2027q2_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2027q2_dividend_factor:base/caseNonebase
/operating_model/cells/base_2027q2_dividend_factor:base/idNonebase_2027q2_dividend_factor
/operating_model/cells/base_2027q2_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2027q2_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2027q2_dividend_factor:base/periodNone2027Q2
/operating_model/cells/base_2027q2_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2027q2_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2027q2_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2027q2_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2027q2_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2027q2_dividend_share_factor:base/formula/refs/0Nonebase_2027q2_shares
/operating_model/cells/base_2027q2_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2027q2_dividend_share_factor:base/idNonebase_2027q2_dividend_share_factor
/operating_model/cells/base_2027q2_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2027q2_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2027q2_dividend_share_factor:base/periodNone2027Q2
/operating_model/cells/base_2027q2_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2027q2_dividend_share_factor:base/valueNone1.0035998662995258
/operating_model/cells/base_2027q2_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2027q2_fcf:base/caseNonebase
/operating_model/cells/base_2027q2_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_fcf:base/formula/refs/0Nonebase_2027q2_cfo
/operating_model/cells/base_2027q2_fcf:base/formula/refs/1Nonebase_2027q2_capex
/operating_model/cells/base_2027q2_fcf:base/idNonebase_2027q2_fcf
/operating_model/cells/base_2027q2_fcf:base/kindNonederived
/operating_model/cells/base_2027q2_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2027q2_fcf:base/periodNone2027Q2
/operating_model/cells/base_2027q2_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_fcf:base/valueNone-2218.5999999999995
/operating_model/cells/base_2027q2_fee_revenue:base/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/base_2027q2_fee_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q2_fee_revenue:base/formula/refs/0Nonebase_2027q2_spa_fees
/operating_model/cells/base_2027q2_fee_revenue:base/formula/refs/1Nonebase_2027q2_commission_fees
/operating_model/cells/base_2027q2_fee_revenue:base/formula/refs/2Nonebase_2027q2_merchant_fees
/operating_model/cells/base_2027q2_fee_revenue:base/idNonebase_2027q2_fee_revenue
/operating_model/cells/base_2027q2_fee_revenue:base/kindNonederived
/operating_model/cells/base_2027q2_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2027q2_fee_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_fee_revenue:base/valueNone2381.4000000000005
/operating_model/cells/base_2027q2_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2027q2_feed_gas:base/caseNonebase
/operating_model/cells/base_2027q2_feed_gas:base/idNonebase_2027q2_feed_gas
/operating_model/cells/base_2027q2_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2027q2_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2027q2_feed_gas:base/periodNone2027Q2
/operating_model/cells/base_2027q2_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_feed_gas:base/valueNone3.5
/operating_model/cells/base_2027q2_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2027q2_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2027q2_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_feed_gas_recovery:base/formula/refs/0Nonebase_2027q2_volume
/operating_model/cells/base_2027q2_feed_gas_recovery:base/formula/refs/1Nonebase_2027q2_feed_gas
/operating_model/cells/base_2027q2_feed_gas_recovery:base/idNonebase_2027q2_feed_gas_recovery
/operating_model/cells/base_2027q2_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2027q2_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2027q2_feed_gas_recovery:base/periodNone2027Q2
/operating_model/cells/base_2027q2_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_feed_gas_recovery:base/valueNone1736.4375
/operating_model/cells/base_2027q2_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2027q2_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2027q2_legal_cash_stress:base/idNonebase_2027q2_legal_cash_stress
/operating_model/cells/base_2027q2_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2027q2_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2027q2_legal_cash_stress:base/periodNone2027Q2
/operating_model/cells/base_2027q2_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2027q2_merchant_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q2_merchant_fee:base/caseNonebase
/operating_model/cells/base_2027q2_merchant_fee:base/idNonebase_2027q2_merchant_fee
/operating_model/cells/base_2027q2_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2027q2_merchant_fee:base/labelNonemerchant fee revenue per TBtu
/operating_model/cells/base_2027q2_merchant_fee:base/periodNone2027Q2
/operating_model/cells/base_2027q2_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_merchant_fee:base/valueNone9.0
/operating_model/cells/base_2027q2_merchant_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q2_merchant_fees:base/caseNonebase
/operating_model/cells/base_2027q2_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_merchant_fees:base/formula/refs/0Nonebase_2027q2_volume
/operating_model/cells/base_2027q2_merchant_fees:base/formula/refs/1Nonebase_2027q2_merchant_share
/operating_model/cells/base_2027q2_merchant_fees:base/formula/refs/2Nonebase_2027q2_merchant_fee
/operating_model/cells/base_2027q2_merchant_fees:base/idNonebase_2027q2_merchant_fees
/operating_model/cells/base_2027q2_merchant_fees:base/kindNonederived
/operating_model/cells/base_2027q2_merchant_fees:base/labelNonemerchant fee revenue
/operating_model/cells/base_2027q2_merchant_fees:base/periodNone2027Q2
/operating_model/cells/base_2027q2_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_merchant_fees:base/valueNone1339.5375000000004
/operating_model/cells/base_2027q2_merchant_share:base/basisNoneNo double-counted sales mix.
/operating_model/cells/base_2027q2_merchant_share:base/caseNonebase
/operating_model/cells/base_2027q2_merchant_share:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_merchant_share:base/formula/refs/0Nonebase_2027q2_one
/operating_model/cells/base_2027q2_merchant_share:base/formula/refs/1Nonebase_2027q2_nonmerchant_share
/operating_model/cells/base_2027q2_merchant_share:base/idNonebase_2027q2_merchant_share
/operating_model/cells/base_2027q2_merchant_share:base/kindNonederived
/operating_model/cells/base_2027q2_merchant_share:base/labelNoneRemaining merchant volume share
/operating_model/cells/base_2027q2_merchant_share:base/periodNone2027Q2
/operating_model/cells/base_2027q2_merchant_share:base/unitNoneratio
/operating_model/cells/base_2027q2_merchant_share:base/valueNone0.30000000000000004
/operating_model/cells/base_2027q2_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_nci_cash:base/caseNonebase
/operating_model/cells/base_2027q2_nci_cash:base/idNonebase_2027q2_nci_cash
/operating_model/cells/base_2027q2_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2027q2_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2027q2_nci_cash:base/periodNone2027Q2
/operating_model/cells/base_2027q2_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_nci_cash:base/valueNone45.0
/operating_model/cells/base_2027q2_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2027q2_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2027q2_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2027q2_noncash_deductions:base/formula/refs/0Nonebase_2027q2_da
/operating_model/cells/base_2027q2_noncash_deductions:base/formula/refs/1Nonebase_2027q2_sbc
/operating_model/cells/base_2027q2_noncash_deductions:base/formula/refs/2Nonebase_2027q2_other_adjustments
/operating_model/cells/base_2027q2_noncash_deductions:base/idNonebase_2027q2_noncash_deductions
/operating_model/cells/base_2027q2_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2027q2_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2027q2_noncash_deductions:base/periodNone2027Q2
/operating_model/cells/base_2027q2_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_noncash_deductions:base/valueNone361.0
/operating_model/cells/base_2027q2_nonmerchant_share:base/basisNoneMutually exclusive price buckets.
/operating_model/cells/base_2027q2_nonmerchant_share:base/caseNonebase
/operating_model/cells/base_2027q2_nonmerchant_share:base/formula/opNonesum
/operating_model/cells/base_2027q2_nonmerchant_share:base/formula/refs/0Nonebase_2027q2_spa_share
/operating_model/cells/base_2027q2_nonmerchant_share:base/formula/refs/1Nonebase_2027q2_commission_share
/operating_model/cells/base_2027q2_nonmerchant_share:base/idNonebase_2027q2_nonmerchant_share
/operating_model/cells/base_2027q2_nonmerchant_share:base/kindNonederived
/operating_model/cells/base_2027q2_nonmerchant_share:base/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/base_2027q2_nonmerchant_share:base/periodNone2027Q2
/operating_model/cells/base_2027q2_nonmerchant_share:base/unitNoneratio
/operating_model/cells/base_2027q2_nonmerchant_share:base/valueNone0.7
/operating_model/cells/base_2027q2_one:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_one:base/caseNonebase
/operating_model/cells/base_2027q2_one:base/idNonebase_2027q2_one
/operating_model/cells/base_2027q2_one:base/kindNoneassumption
/operating_model/cells/base_2027q2_one:base/labelNoneAll recognized volume
/operating_model/cells/base_2027q2_one:base/periodNone2027Q2
/operating_model/cells/base_2027q2_one:base/unitNoneratio
/operating_model/cells/base_2027q2_one:base/valueNone1.0
/operating_model/cells/base_2027q2_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2027q2_operating_income:base/caseNonebase
/operating_model/cells/base_2027q2_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_operating_income:base/formula/refs/0Nonebase_2027q2_adj_ebitda
/operating_model/cells/base_2027q2_operating_income:base/formula/refs/1Nonebase_2027q2_noncash_deductions
/operating_model/cells/base_2027q2_operating_income:base/idNonebase_2027q2_operating_income
/operating_model/cells/base_2027q2_operating_income:base/kindNonederived
/operating_model/cells/base_2027q2_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2027q2_operating_income:base/periodNone2027Q2
/operating_model/cells/base_2027q2_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_operating_income:base/valueNone1345.4000000000005
/operating_model/cells/base_2027q2_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2027q2_other_adjustments:base/caseNonebase
/operating_model/cells/base_2027q2_other_adjustments:base/idNonebase_2027q2_other_adjustments
/operating_model/cells/base_2027q2_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2027q2_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2027q2_other_adjustments:base/periodNone2027Q2
/operating_model/cells/base_2027q2_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_other_adjustments:base/valueNone5.0
/operating_model/cells/base_2027q2_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2027q2_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2027q2_preferred_redemption:base/idNonebase_2027q2_preferred_redemption
/operating_model/cells/base_2027q2_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2027q2_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2027q2_preferred_redemption:base/periodNone2027Q2
/operating_model/cells/base_2027q2_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2027q2_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2027q2_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q2_revenue:base/formula/refs/0Nonebase_2027q2_fee_revenue
/operating_model/cells/base_2027q2_revenue:base/formula/refs/1Nonebase_2027q2_feed_gas_recovery
/operating_model/cells/base_2027q2_revenue:base/idNonebase_2027q2_revenue
/operating_model/cells/base_2027q2_revenue:base/kindNonederived
/operating_model/cells/base_2027q2_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2027q2_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_revenue:base/valueNone4117.837500000001
/operating_model/cells/base_2027q2_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_sbc:base/caseNonebase
/operating_model/cells/base_2027q2_sbc:base/idNonebase_2027q2_sbc
/operating_model/cells/base_2027q2_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q2_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2027q2_sbc:base/periodNone2027Q2
/operating_model/cells/base_2027q2_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_sbc:base/valueNone21.0
/operating_model/cells/base_2027q2_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2027q2_series_a_cash:base/caseNonebase
/operating_model/cells/base_2027q2_series_a_cash:base/idNonebase_2027q2_series_a_cash
/operating_model/cells/base_2027q2_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2027q2_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2027q2_series_a_cash:base/periodNone2027Q2
/operating_model/cells/base_2027q2_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_series_a_cash:base/valueNone0.0
/operating_model/cells/base_2027q2_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_share_growth:base/caseNonebase
/operating_model/cells/base_2027q2_share_growth:base/idNonebase_2027q2_share_growth
/operating_model/cells/base_2027q2_share_growth:base/kindNoneassumption
/operating_model/cells/base_2027q2_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2027q2_share_growth:base/periodNone2027Q2
/operating_model/cells/base_2027q2_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2027q2_share_growth:base/valueNone9.0
/operating_model/cells/base_2027q2_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2027q2_shares:base/caseNonebase
/operating_model/cells/base_2027q2_shares:base/formula/opNonesum
/operating_model/cells/base_2027q2_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2027q2_shares:base/formula/refs/1Nonebase_2027q2_share_growth
/operating_model/cells/base_2027q2_shares:base/idNonebase_2027q2_shares
/operating_model/cells/base_2027q2_shares:base/kindNonederived
/operating_model/cells/base_2027q2_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2027q2_shares:base/periodNone2027Q2
/operating_model/cells/base_2027q2_shares:base/unitNoneshares_millions
/operating_model/cells/base_2027q2_shares:base/valueNone2509.092851
/operating_model/cells/base_2027q2_spa_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q2_spa_fee:base/caseNonebase
/operating_model/cells/base_2027q2_spa_fee:base/idNonebase_2027q2_spa_fee
/operating_model/cells/base_2027q2_spa_fee:base/kindNoneassumption
/operating_model/cells/base_2027q2_spa_fee:base/labelNonespa fee revenue per TBtu
/operating_model/cells/base_2027q2_spa_fee:base/periodNone2027Q2
/operating_model/cells/base_2027q2_spa_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_spa_fee:base/valueNone2.5
/operating_model/cells/base_2027q2_spa_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q2_spa_fees:base/caseNonebase
/operating_model/cells/base_2027q2_spa_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_spa_fees:base/formula/refs/0Nonebase_2027q2_volume
/operating_model/cells/base_2027q2_spa_fees:base/formula/refs/1Nonebase_2027q2_spa_share
/operating_model/cells/base_2027q2_spa_fees:base/formula/refs/2Nonebase_2027q2_spa_fee
/operating_model/cells/base_2027q2_spa_fees:base/idNonebase_2027q2_spa_fees
/operating_model/cells/base_2027q2_spa_fees:base/kindNonederived
/operating_model/cells/base_2027q2_spa_fees:base/labelNonespa fee revenue
/operating_model/cells/base_2027q2_spa_fees:base/periodNone2027Q2
/operating_model/cells/base_2027q2_spa_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_spa_fees:base/valueNone744.1875
/operating_model/cells/base_2027q2_spa_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_spa_share:base/caseNonebase
/operating_model/cells/base_2027q2_spa_share:base/idNonebase_2027q2_spa_share
/operating_model/cells/base_2027q2_spa_share:base/kindNoneassumption
/operating_model/cells/base_2027q2_spa_share:base/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/base_2027q2_spa_share:base/periodNone2027Q2
/operating_model/cells/base_2027q2_spa_share:base/unitNoneratio
/operating_model/cells/base_2027q2_spa_share:base/valueNone0.6
/operating_model/cells/base_2027q2_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2027q2_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2027q2_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2027q2_subsidiary_distributions:base/formula/refs/0Nonebase_2027q2_series_a_cash
/operating_model/cells/base_2027q2_subsidiary_distributions:base/formula/refs/1Nonebase_2027q2_nci_cash
/operating_model/cells/base_2027q2_subsidiary_distributions:base/idNonebase_2027q2_subsidiary_distributions
/operating_model/cells/base_2027q2_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2027q2_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2027q2_subsidiary_distributions:base/periodNone2027Q2
/operating_model/cells/base_2027q2_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_subsidiary_distributions:base/valueNone45.0
/operating_model/cells/base_2027q2_volume:base/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/base_2027q2_volume:base/caseNonebase
/operating_model/cells/base_2027q2_volume:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_volume:base/formula/refs/0Nonebase_2027q2_cargos
/operating_model/cells/base_2027q2_volume:base/formula/refs/1Nonecargo_size
/operating_model/cells/base_2027q2_volume:base/formula/refs/2Nonesales_timing
/operating_model/cells/base_2027q2_volume:base/idNonebase_2027q2_volume
/operating_model/cells/base_2027q2_volume:base/kindNonederived
/operating_model/cells/base_2027q2_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2027q2_volume:base/periodNone2027Q2
/operating_model/cells/base_2027q2_volume:base/unitNoneratio
/operating_model/cells/base_2027q2_volume:base/valueNone496.125
/operating_model/cells/base_2027q2_volume_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_volume_factor:base/caseNonebase
/operating_model/cells/base_2027q2_volume_factor:base/idNonebase_2027q2_volume_factor
/operating_model/cells/base_2027q2_volume_factor:base/kindNoneassumption
/operating_model/cells/base_2027q2_volume_factor:base/labelNoneCargo delivery factor
/operating_model/cells/base_2027q2_volume_factor:base/periodNone2027Q2
/operating_model/cells/base_2027q2_volume_factor:base/unitNoneratio
/operating_model/cells/base_2027q2_volume_factor:base/valueNone1.0
/operating_model/cells/base_2027q2_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_wc_use:base/caseNonebase
/operating_model/cells/base_2027q2_wc_use:base/idNonebase_2027q2_wc_use
/operating_model/cells/base_2027q2_wc_use:base/kindNoneassumption
/operating_model/cells/base_2027q2_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2027q2_wc_use:base/periodNone2027Q2
/operating_model/cells/base_2027q2_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_wc_use:base/valueNone80.0
/operating_model/cells/base_2027q3_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2027q3_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2027q3_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_adj_ebitda:base/formula/refs/0Nonebase_2027q3_fee_revenue
/operating_model/cells/base_2027q3_adj_ebitda:base/formula/refs/1Nonebase_2027q3_cash_costs
/operating_model/cells/base_2027q3_adj_ebitda:base/idNonebase_2027q3_adj_ebitda
/operating_model/cells/base_2027q3_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2027q3_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2027q3_adj_ebitda:base/periodNone2027Q3
/operating_model/cells/base_2027q3_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_adj_ebitda:base/valueNone1511.43125
/operating_model/cells/base_2027q3_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2027q3_capex:base/caseNonebase
/operating_model/cells/base_2027q3_capex:base/idNonebase_2027q3_capex
/operating_model/cells/base_2027q3_capex:base/kindNoneassumption
/operating_model/cells/base_2027q3_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2027q3_capex:base/periodNone2027Q3
/operating_model/cells/base_2027q3_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_capex:base/valueNone2800.0
/operating_model/cells/base_2027q3_cargo_baseline:base/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/base_2027q3_cargo_baseline:base/caseNonebase
/operating_model/cells/base_2027q3_cargo_baseline:base/idNonebase_2027q3_cargo_baseline
/operating_model/cells/base_2027q3_cargo_baseline:base/kindNoneassumption
/operating_model/cells/base_2027q3_cargo_baseline:base/labelNoneStandalone project export-cargo plan
/operating_model/cells/base_2027q3_cargo_baseline:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cargo_baseline:base/unitNoneratio
/operating_model/cells/base_2027q3_cargo_baseline:base/valueNone145.0
/operating_model/cells/base_2027q3_cargos:base/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/base_2027q3_cargos:base/caseNonebase
/operating_model/cells/base_2027q3_cargos:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_cargos:base/formula/refs/0Nonebase_2027q3_cargo_baseline
/operating_model/cells/base_2027q3_cargos:base/formula/refs/1Nonebase_2027q3_volume_factor
/operating_model/cells/base_2027q3_cargos:base/idNonebase_2027q3_cargos
/operating_model/cells/base_2027q3_cargos:base/kindNonederived
/operating_model/cells/base_2027q3_cargos:base/labelNoneExported cargos
/operating_model/cells/base_2027q3_cargos:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cargos:base/unitNoneratio
/operating_model/cells/base_2027q3_cargos:base/valueNone145.0
/operating_model/cells/base_2027q3_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2027q3_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2027q3_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_cash_after_claims:base/formula/refs/0Nonebase_2027q3_fcf
/operating_model/cells/base_2027q3_cash_after_claims:base/formula/refs/1Nonebase_2027q3_claims
/operating_model/cells/base_2027q3_cash_after_claims:base/idNonebase_2027q3_cash_after_claims
/operating_model/cells/base_2027q3_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2027q3_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2027q3_cash_after_claims:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_after_claims:base/valueNone-2509.05246404
/operating_model/cells/base_2027q3_cash_costs:base/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/base_2027q3_cash_costs:base/caseNonebase
/operating_model/cells/base_2027q3_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_cash_costs:base/formula/refs/0Nonebase_2027q3_cost_budget
/operating_model/cells/base_2027q3_cash_costs:base/formula/refs/1Nonebase_2027q3_cost_factor
/operating_model/cells/base_2027q3_cash_costs:base/idNonebase_2027q3_cash_costs
/operating_model/cells/base_2027q3_cash_costs:base/kindNonederived
/operating_model/cells/base_2027q3_cash_costs:base/labelNoneOperating costs net of other contribution
/operating_model/cells/base_2027q3_cash_costs:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_costs:base/valueNone700.0
/operating_model/cells/base_2027q3_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2027q3_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q3_cash_interest:base/idNonebase_2027q3_cash_interest
/operating_model/cells/base_2027q3_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2027q3_cash_interest:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_interest:base/valueNone550.0
/operating_model/cells/base_2027q3_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q3_cash_tax:base/idNonebase_2027q3_cash_tax
/operating_model/cells/base_2027q3_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2027q3_cash_tax:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_tax:base/valueNone120.0
/operating_model/cells/base_2027q3_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2027q3_cfo:base/caseNonebase
/operating_model/cells/base_2027q3_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_cfo:base/formula/refs/0Nonebase_2027q3_adj_ebitda
/operating_model/cells/base_2027q3_cfo:base/formula/refs/1Nonebase_2027q3_cfo_uses
/operating_model/cells/base_2027q3_cfo:base/idNonebase_2027q3_cfo
/operating_model/cells/base_2027q3_cfo:base/kindNonederived
/operating_model/cells/base_2027q3_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q3_cfo:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cfo:base/valueNone721.4312500000001
/operating_model/cells/base_2027q3_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2027q3_cfo_uses:base/caseNonebase
/operating_model/cells/base_2027q3_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2027q3_cfo_uses:base/formula/refs/0Nonebase_2027q3_cash_interest
/operating_model/cells/base_2027q3_cfo_uses:base/formula/refs/1Nonebase_2027q3_cash_tax
/operating_model/cells/base_2027q3_cfo_uses:base/formula/refs/2Nonebase_2027q3_wc_use
/operating_model/cells/base_2027q3_cfo_uses:base/formula/refs/3Nonebase_2027q3_legal_cash_stress
/operating_model/cells/base_2027q3_cfo_uses:base/idNonebase_2027q3_cfo_uses
/operating_model/cells/base_2027q3_cfo_uses:base/kindNonederived
/operating_model/cells/base_2027q3_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2027q3_cfo_uses:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cfo_uses:base/valueNone790.0
/operating_model/cells/base_2027q3_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2027q3_claims:base/caseNonebase
/operating_model/cells/base_2027q3_claims:base/formula/opNonesum
/operating_model/cells/base_2027q3_claims:base/formula/refs/0Nonebase_2027q3_subsidiary_distributions
/operating_model/cells/base_2027q3_claims:base/formula/refs/1Nonebase_2027q3_common_dividends
/operating_model/cells/base_2027q3_claims:base/formula/refs/2Nonebase_2027q3_preferred_redemption
/operating_model/cells/base_2027q3_claims:base/formula/refs/3Nonebase_2027q3_debt_principal
/operating_model/cells/base_2027q3_claims:base/idNonebase_2027q3_claims
/operating_model/cells/base_2027q3_claims:base/kindNonederived
/operating_model/cells/base_2027q3_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2027q3_claims:base/periodNone2027Q3
/operating_model/cells/base_2027q3_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_claims:base/valueNone430.48371404
/operating_model/cells/base_2027q3_commission_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q3_commission_fee:base/caseNonebase
/operating_model/cells/base_2027q3_commission_fee:base/idNonebase_2027q3_commission_fee
/operating_model/cells/base_2027q3_commission_fee:base/kindNoneassumption
/operating_model/cells/base_2027q3_commission_fee:base/labelNonecommission fee revenue per TBtu
/operating_model/cells/base_2027q3_commission_fee:base/periodNone2027Q3
/operating_model/cells/base_2027q3_commission_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_commission_fee:base/valueNone6.0
/operating_model/cells/base_2027q3_commission_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q3_commission_fees:base/caseNonebase
/operating_model/cells/base_2027q3_commission_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_commission_fees:base/formula/refs/0Nonebase_2027q3_volume
/operating_model/cells/base_2027q3_commission_fees:base/formula/refs/1Nonebase_2027q3_commission_share
/operating_model/cells/base_2027q3_commission_fees:base/formula/refs/2Nonebase_2027q3_commission_fee
/operating_model/cells/base_2027q3_commission_fees:base/idNonebase_2027q3_commission_fees
/operating_model/cells/base_2027q3_commission_fees:base/kindNonederived
/operating_model/cells/base_2027q3_commission_fees:base/labelNonecommission fee revenue
/operating_model/cells/base_2027q3_commission_fees:base/periodNone2027Q3
/operating_model/cells/base_2027q3_commission_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_commission_fees:base/valueNone319.725
/operating_model/cells/base_2027q3_commission_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_commission_share:base/caseNonebase
/operating_model/cells/base_2027q3_commission_share:base/idNonebase_2027q3_commission_share
/operating_model/cells/base_2027q3_commission_share:base/kindNoneassumption
/operating_model/cells/base_2027q3_commission_share:base/labelNonePrecontracted commissioning share
/operating_model/cells/base_2027q3_commission_share:base/periodNone2027Q3
/operating_model/cells/base_2027q3_commission_share:base/unitNoneratio
/operating_model/cells/base_2027q3_commission_share:base/valueNone0.1
/operating_model/cells/base_2027q3_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2027q3_common_dividends:base/caseNonebase
/operating_model/cells/base_2027q3_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2027q3_common_dividends:base/formula/refs/1Nonebase_2027q3_dividend_share_factor
/operating_model/cells/base_2027q3_common_dividends:base/formula/refs/2Nonebase_2027q3_dividend_factor
/operating_model/cells/base_2027q3_common_dividends:base/idNonebase_2027q3_common_dividends
/operating_model/cells/base_2027q3_common_dividends:base/kindNonederived
/operating_model/cells/base_2027q3_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2027q3_common_dividends:base/periodNone2027Q3
/operating_model/cells/base_2027q3_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_common_dividends:base/valueNone100.48371404
/operating_model/cells/base_2027q3_cost_budget:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cost_budget:base/caseNonebase
/operating_model/cells/base_2027q3_cost_budget:base/idNonebase_2027q3_cost_budget
/operating_model/cells/base_2027q3_cost_budget:base/kindNoneassumption
/operating_model/cells/base_2027q3_cost_budget:base/labelNoneOperating cost/contribution budget
/operating_model/cells/base_2027q3_cost_budget:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cost_budget:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cost_budget:base/valueNone700.0
/operating_model/cells/base_2027q3_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cost_factor:base/caseNonebase
/operating_model/cells/base_2027q3_cost_factor:base/idNonebase_2027q3_cost_factor
/operating_model/cells/base_2027q3_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2027q3_cost_factor:base/labelNoneCost execution stress
/operating_model/cells/base_2027q3_cost_factor:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cost_factor:base/unitNoneratio
/operating_model/cells/base_2027q3_cost_factor:base/valueNone1.0
/operating_model/cells/base_2027q3_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_da:base/caseNonebase
/operating_model/cells/base_2027q3_da:base/idNonebase_2027q3_da
/operating_model/cells/base_2027q3_da:base/kindNoneassumption
/operating_model/cells/base_2027q3_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2027q3_da:base/periodNone2027Q3
/operating_model/cells/base_2027q3_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_da:base/valueNone355.0
/operating_model/cells/base_2027q3_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2027q3_debt_principal:base/caseNonebase
/operating_model/cells/base_2027q3_debt_principal:base/idNonebase_2027q3_debt_principal
/operating_model/cells/base_2027q3_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2027q3_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2027q3_debt_principal:base/periodNone2027Q3
/operating_model/cells/base_2027q3_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_debt_principal:base/valueNone150.0
/operating_model/cells/base_2027q3_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2027q3_dividend_factor:base/caseNonebase
/operating_model/cells/base_2027q3_dividend_factor:base/idNonebase_2027q3_dividend_factor
/operating_model/cells/base_2027q3_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2027q3_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2027q3_dividend_factor:base/periodNone2027Q3
/operating_model/cells/base_2027q3_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2027q3_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2027q3_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2027q3_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2027q3_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2027q3_dividend_share_factor:base/formula/refs/0Nonebase_2027q3_shares
/operating_model/cells/base_2027q3_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2027q3_dividend_share_factor:base/idNonebase_2027q3_dividend_share_factor
/operating_model/cells/base_2027q3_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2027q3_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2027q3_dividend_share_factor:base/periodNone2027Q3
/operating_model/cells/base_2027q3_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2027q3_dividend_share_factor:base/valueNone1.004799821732701
/operating_model/cells/base_2027q3_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2027q3_fcf:base/caseNonebase
/operating_model/cells/base_2027q3_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_fcf:base/formula/refs/0Nonebase_2027q3_cfo
/operating_model/cells/base_2027q3_fcf:base/formula/refs/1Nonebase_2027q3_capex
/operating_model/cells/base_2027q3_fcf:base/idNonebase_2027q3_fcf
/operating_model/cells/base_2027q3_fcf:base/kindNonederived
/operating_model/cells/base_2027q3_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2027q3_fcf:base/periodNone2027Q3
/operating_model/cells/base_2027q3_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_fcf:base/valueNone-2078.56875
/operating_model/cells/base_2027q3_fee_revenue:base/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/base_2027q3_fee_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q3_fee_revenue:base/formula/refs/0Nonebase_2027q3_spa_fees
/operating_model/cells/base_2027q3_fee_revenue:base/formula/refs/1Nonebase_2027q3_commission_fees
/operating_model/cells/base_2027q3_fee_revenue:base/formula/refs/2Nonebase_2027q3_merchant_fees
/operating_model/cells/base_2027q3_fee_revenue:base/idNonebase_2027q3_fee_revenue
/operating_model/cells/base_2027q3_fee_revenue:base/kindNonederived
/operating_model/cells/base_2027q3_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2027q3_fee_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_fee_revenue:base/valueNone2211.43125
/operating_model/cells/base_2027q3_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2027q3_feed_gas:base/caseNonebase
/operating_model/cells/base_2027q3_feed_gas:base/idNonebase_2027q3_feed_gas
/operating_model/cells/base_2027q3_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2027q3_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2027q3_feed_gas:base/periodNone2027Q3
/operating_model/cells/base_2027q3_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_feed_gas:base/valueNone3.5
/operating_model/cells/base_2027q3_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2027q3_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2027q3_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_feed_gas_recovery:base/formula/refs/0Nonebase_2027q3_volume
/operating_model/cells/base_2027q3_feed_gas_recovery:base/formula/refs/1Nonebase_2027q3_feed_gas
/operating_model/cells/base_2027q3_feed_gas_recovery:base/idNonebase_2027q3_feed_gas_recovery
/operating_model/cells/base_2027q3_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2027q3_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2027q3_feed_gas_recovery:base/periodNone2027Q3
/operating_model/cells/base_2027q3_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_feed_gas_recovery:base/valueNone1865.0625
/operating_model/cells/base_2027q3_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2027q3_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2027q3_legal_cash_stress:base/idNonebase_2027q3_legal_cash_stress
/operating_model/cells/base_2027q3_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2027q3_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2027q3_legal_cash_stress:base/periodNone2027Q3
/operating_model/cells/base_2027q3_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2027q3_merchant_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q3_merchant_fee:base/caseNonebase
/operating_model/cells/base_2027q3_merchant_fee:base/idNonebase_2027q3_merchant_fee
/operating_model/cells/base_2027q3_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2027q3_merchant_fee:base/labelNonemerchant fee revenue per TBtu
/operating_model/cells/base_2027q3_merchant_fee:base/periodNone2027Q3
/operating_model/cells/base_2027q3_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_merchant_fee:base/valueNone9.0
/operating_model/cells/base_2027q3_merchant_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q3_merchant_fees:base/caseNonebase
/operating_model/cells/base_2027q3_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_merchant_fees:base/formula/refs/0Nonebase_2027q3_volume
/operating_model/cells/base_2027q3_merchant_fees:base/formula/refs/1Nonebase_2027q3_merchant_share
/operating_model/cells/base_2027q3_merchant_fees:base/formula/refs/2Nonebase_2027q3_merchant_fee
/operating_model/cells/base_2027q3_merchant_fees:base/idNonebase_2027q3_merchant_fees
/operating_model/cells/base_2027q3_merchant_fees:base/kindNonederived
/operating_model/cells/base_2027q3_merchant_fees:base/labelNonemerchant fee revenue
/operating_model/cells/base_2027q3_merchant_fees:base/periodNone2027Q3
/operating_model/cells/base_2027q3_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_merchant_fees:base/valueNone959.1750000000003
/operating_model/cells/base_2027q3_merchant_share:base/basisNoneNo double-counted sales mix.
/operating_model/cells/base_2027q3_merchant_share:base/caseNonebase
/operating_model/cells/base_2027q3_merchant_share:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_merchant_share:base/formula/refs/0Nonebase_2027q3_one
/operating_model/cells/base_2027q3_merchant_share:base/formula/refs/1Nonebase_2027q3_nonmerchant_share
/operating_model/cells/base_2027q3_merchant_share:base/idNonebase_2027q3_merchant_share
/operating_model/cells/base_2027q3_merchant_share:base/kindNonederived
/operating_model/cells/base_2027q3_merchant_share:base/labelNoneRemaining merchant volume share
/operating_model/cells/base_2027q3_merchant_share:base/periodNone2027Q3
/operating_model/cells/base_2027q3_merchant_share:base/unitNoneratio
/operating_model/cells/base_2027q3_merchant_share:base/valueNone0.20000000000000007
/operating_model/cells/base_2027q3_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_nci_cash:base/caseNonebase
/operating_model/cells/base_2027q3_nci_cash:base/idNonebase_2027q3_nci_cash
/operating_model/cells/base_2027q3_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2027q3_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2027q3_nci_cash:base/periodNone2027Q3
/operating_model/cells/base_2027q3_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_nci_cash:base/valueNone45.0
/operating_model/cells/base_2027q3_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2027q3_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2027q3_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2027q3_noncash_deductions:base/formula/refs/0Nonebase_2027q3_da
/operating_model/cells/base_2027q3_noncash_deductions:base/formula/refs/1Nonebase_2027q3_sbc
/operating_model/cells/base_2027q3_noncash_deductions:base/formula/refs/2Nonebase_2027q3_other_adjustments
/operating_model/cells/base_2027q3_noncash_deductions:base/idNonebase_2027q3_noncash_deductions
/operating_model/cells/base_2027q3_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2027q3_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2027q3_noncash_deductions:base/periodNone2027Q3
/operating_model/cells/base_2027q3_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_noncash_deductions:base/valueNone383.0
/operating_model/cells/base_2027q3_nonmerchant_share:base/basisNoneMutually exclusive price buckets.
/operating_model/cells/base_2027q3_nonmerchant_share:base/caseNonebase
/operating_model/cells/base_2027q3_nonmerchant_share:base/formula/opNonesum
/operating_model/cells/base_2027q3_nonmerchant_share:base/formula/refs/0Nonebase_2027q3_spa_share
/operating_model/cells/base_2027q3_nonmerchant_share:base/formula/refs/1Nonebase_2027q3_commission_share
/operating_model/cells/base_2027q3_nonmerchant_share:base/idNonebase_2027q3_nonmerchant_share
/operating_model/cells/base_2027q3_nonmerchant_share:base/kindNonederived
/operating_model/cells/base_2027q3_nonmerchant_share:base/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/base_2027q3_nonmerchant_share:base/periodNone2027Q3
/operating_model/cells/base_2027q3_nonmerchant_share:base/unitNoneratio
/operating_model/cells/base_2027q3_nonmerchant_share:base/valueNone0.7999999999999999
/operating_model/cells/base_2027q3_one:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_one:base/caseNonebase
/operating_model/cells/base_2027q3_one:base/idNonebase_2027q3_one
/operating_model/cells/base_2027q3_one:base/kindNoneassumption
/operating_model/cells/base_2027q3_one:base/labelNoneAll recognized volume
/operating_model/cells/base_2027q3_one:base/periodNone2027Q3
/operating_model/cells/base_2027q3_one:base/unitNoneratio
/operating_model/cells/base_2027q3_one:base/valueNone1.0
/operating_model/cells/base_2027q3_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2027q3_operating_income:base/caseNonebase
/operating_model/cells/base_2027q3_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_operating_income:base/formula/refs/0Nonebase_2027q3_adj_ebitda
/operating_model/cells/base_2027q3_operating_income:base/formula/refs/1Nonebase_2027q3_noncash_deductions
/operating_model/cells/base_2027q3_operating_income:base/idNonebase_2027q3_operating_income
/operating_model/cells/base_2027q3_operating_income:base/kindNonederived
/operating_model/cells/base_2027q3_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2027q3_operating_income:base/periodNone2027Q3
/operating_model/cells/base_2027q3_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_operating_income:base/valueNone1128.43125
/operating_model/cells/base_2027q3_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2027q3_other_adjustments:base/caseNonebase
/operating_model/cells/base_2027q3_other_adjustments:base/idNonebase_2027q3_other_adjustments
/operating_model/cells/base_2027q3_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2027q3_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2027q3_other_adjustments:base/periodNone2027Q3
/operating_model/cells/base_2027q3_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_other_adjustments:base/valueNone5.0
/operating_model/cells/base_2027q3_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2027q3_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2027q3_preferred_redemption:base/idNonebase_2027q3_preferred_redemption
/operating_model/cells/base_2027q3_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2027q3_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2027q3_preferred_redemption:base/periodNone2027Q3
/operating_model/cells/base_2027q3_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2027q3_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2027q3_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q3_revenue:base/formula/refs/0Nonebase_2027q3_fee_revenue
/operating_model/cells/base_2027q3_revenue:base/formula/refs/1Nonebase_2027q3_feed_gas_recovery
/operating_model/cells/base_2027q3_revenue:base/idNonebase_2027q3_revenue
/operating_model/cells/base_2027q3_revenue:base/kindNonederived
/operating_model/cells/base_2027q3_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2027q3_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_revenue:base/valueNone4076.49375
/operating_model/cells/base_2027q3_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_sbc:base/caseNonebase
/operating_model/cells/base_2027q3_sbc:base/idNonebase_2027q3_sbc
/operating_model/cells/base_2027q3_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q3_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2027q3_sbc:base/periodNone2027Q3
/operating_model/cells/base_2027q3_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_sbc:base/valueNone23.0
/operating_model/cells/base_2027q3_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2027q3_series_a_cash:base/caseNonebase
/operating_model/cells/base_2027q3_series_a_cash:base/idNonebase_2027q3_series_a_cash
/operating_model/cells/base_2027q3_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2027q3_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2027q3_series_a_cash:base/periodNone2027Q3
/operating_model/cells/base_2027q3_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_series_a_cash:base/valueNone135.0
/operating_model/cells/base_2027q3_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_share_growth:base/caseNonebase
/operating_model/cells/base_2027q3_share_growth:base/idNonebase_2027q3_share_growth
/operating_model/cells/base_2027q3_share_growth:base/kindNoneassumption
/operating_model/cells/base_2027q3_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2027q3_share_growth:base/periodNone2027Q3
/operating_model/cells/base_2027q3_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2027q3_share_growth:base/valueNone12.0
/operating_model/cells/base_2027q3_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2027q3_shares:base/caseNonebase
/operating_model/cells/base_2027q3_shares:base/formula/opNonesum
/operating_model/cells/base_2027q3_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2027q3_shares:base/formula/refs/1Nonebase_2027q3_share_growth
/operating_model/cells/base_2027q3_shares:base/idNonebase_2027q3_shares
/operating_model/cells/base_2027q3_shares:base/kindNonederived
/operating_model/cells/base_2027q3_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2027q3_shares:base/periodNone2027Q3
/operating_model/cells/base_2027q3_shares:base/unitNoneshares_millions
/operating_model/cells/base_2027q3_shares:base/valueNone2512.092851
/operating_model/cells/base_2027q3_spa_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q3_spa_fee:base/caseNonebase
/operating_model/cells/base_2027q3_spa_fee:base/idNonebase_2027q3_spa_fee
/operating_model/cells/base_2027q3_spa_fee:base/kindNoneassumption
/operating_model/cells/base_2027q3_spa_fee:base/labelNonespa fee revenue per TBtu
/operating_model/cells/base_2027q3_spa_fee:base/periodNone2027Q3
/operating_model/cells/base_2027q3_spa_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_spa_fee:base/valueNone2.5
/operating_model/cells/base_2027q3_spa_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q3_spa_fees:base/caseNonebase
/operating_model/cells/base_2027q3_spa_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_spa_fees:base/formula/refs/0Nonebase_2027q3_volume
/operating_model/cells/base_2027q3_spa_fees:base/formula/refs/1Nonebase_2027q3_spa_share
/operating_model/cells/base_2027q3_spa_fees:base/formula/refs/2Nonebase_2027q3_spa_fee
/operating_model/cells/base_2027q3_spa_fees:base/idNonebase_2027q3_spa_fees
/operating_model/cells/base_2027q3_spa_fees:base/kindNonederived
/operating_model/cells/base_2027q3_spa_fees:base/labelNonespa fee revenue
/operating_model/cells/base_2027q3_spa_fees:base/periodNone2027Q3
/operating_model/cells/base_2027q3_spa_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_spa_fees:base/valueNone932.53125
/operating_model/cells/base_2027q3_spa_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_spa_share:base/caseNonebase
/operating_model/cells/base_2027q3_spa_share:base/idNonebase_2027q3_spa_share
/operating_model/cells/base_2027q3_spa_share:base/kindNoneassumption
/operating_model/cells/base_2027q3_spa_share:base/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/base_2027q3_spa_share:base/periodNone2027Q3
/operating_model/cells/base_2027q3_spa_share:base/unitNoneratio
/operating_model/cells/base_2027q3_spa_share:base/valueNone0.7
/operating_model/cells/base_2027q3_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2027q3_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2027q3_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2027q3_subsidiary_distributions:base/formula/refs/0Nonebase_2027q3_series_a_cash
/operating_model/cells/base_2027q3_subsidiary_distributions:base/formula/refs/1Nonebase_2027q3_nci_cash
/operating_model/cells/base_2027q3_subsidiary_distributions:base/idNonebase_2027q3_subsidiary_distributions
/operating_model/cells/base_2027q3_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2027q3_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2027q3_subsidiary_distributions:base/periodNone2027Q3
/operating_model/cells/base_2027q3_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_subsidiary_distributions:base/valueNone180.0
/operating_model/cells/base_2027q3_volume:base/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/base_2027q3_volume:base/caseNonebase
/operating_model/cells/base_2027q3_volume:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_volume:base/formula/refs/0Nonebase_2027q3_cargos
/operating_model/cells/base_2027q3_volume:base/formula/refs/1Nonecargo_size
/operating_model/cells/base_2027q3_volume:base/formula/refs/2Nonesales_timing
/operating_model/cells/base_2027q3_volume:base/idNonebase_2027q3_volume
/operating_model/cells/base_2027q3_volume:base/kindNonederived
/operating_model/cells/base_2027q3_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2027q3_volume:base/periodNone2027Q3
/operating_model/cells/base_2027q3_volume:base/unitNoneratio
/operating_model/cells/base_2027q3_volume:base/valueNone532.875
/operating_model/cells/base_2027q3_volume_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_volume_factor:base/caseNonebase
/operating_model/cells/base_2027q3_volume_factor:base/idNonebase_2027q3_volume_factor
/operating_model/cells/base_2027q3_volume_factor:base/kindNoneassumption
/operating_model/cells/base_2027q3_volume_factor:base/labelNoneCargo delivery factor
/operating_model/cells/base_2027q3_volume_factor:base/periodNone2027Q3
/operating_model/cells/base_2027q3_volume_factor:base/unitNoneratio
/operating_model/cells/base_2027q3_volume_factor:base/valueNone1.0
/operating_model/cells/base_2027q3_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_wc_use:base/caseNonebase
/operating_model/cells/base_2027q3_wc_use:base/idNonebase_2027q3_wc_use
/operating_model/cells/base_2027q3_wc_use:base/kindNoneassumption
/operating_model/cells/base_2027q3_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2027q3_wc_use:base/periodNone2027Q3
/operating_model/cells/base_2027q3_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_wc_use:base/valueNone120.0
/operating_model/cells/base_2027q4_adj_ebitda:base/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/base_2027q4_adj_ebitda:base/caseNonebase
/operating_model/cells/base_2027q4_adj_ebitda:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_adj_ebitda:base/formula/refs/0Nonebase_2027q4_fee_revenue
/operating_model/cells/base_2027q4_adj_ebitda:base/formula/refs/1Nonebase_2027q4_cash_costs
/operating_model/cells/base_2027q4_adj_ebitda:base/idNonebase_2027q4_adj_ebitda
/operating_model/cells/base_2027q4_adj_ebitda:base/kindNonederived
/operating_model/cells/base_2027q4_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/base_2027q4_adj_ebitda:base/periodNone2027Q4
/operating_model/cells/base_2027q4_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_adj_ebitda:base/valueNone1715.2000000000003
/operating_model/cells/base_2027q4_capex:base/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/base_2027q4_capex:base/caseNonebase
/operating_model/cells/base_2027q4_capex:base/idNonebase_2027q4_capex
/operating_model/cells/base_2027q4_capex:base/kindNoneassumption
/operating_model/cells/base_2027q4_capex:base/labelNoneGross cash construction and other capex
/operating_model/cells/base_2027q4_capex:base/periodNone2027Q4
/operating_model/cells/base_2027q4_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_capex:base/valueNone2500.0
/operating_model/cells/base_2027q4_cargo_baseline:base/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/base_2027q4_cargo_baseline:base/caseNonebase
/operating_model/cells/base_2027q4_cargo_baseline:base/idNonebase_2027q4_cargo_baseline
/operating_model/cells/base_2027q4_cargo_baseline:base/kindNoneassumption
/operating_model/cells/base_2027q4_cargo_baseline:base/labelNoneStandalone project export-cargo plan
/operating_model/cells/base_2027q4_cargo_baseline:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cargo_baseline:base/unitNoneratio
/operating_model/cells/base_2027q4_cargo_baseline:base/valueNone160.0
/operating_model/cells/base_2027q4_cargos:base/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/base_2027q4_cargos:base/caseNonebase
/operating_model/cells/base_2027q4_cargos:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_cargos:base/formula/refs/0Nonebase_2027q4_cargo_baseline
/operating_model/cells/base_2027q4_cargos:base/formula/refs/1Nonebase_2027q4_volume_factor
/operating_model/cells/base_2027q4_cargos:base/idNonebase_2027q4_cargos
/operating_model/cells/base_2027q4_cargos:base/kindNonederived
/operating_model/cells/base_2027q4_cargos:base/labelNoneExported cargos
/operating_model/cells/base_2027q4_cargos:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cargos:base/unitNoneratio
/operating_model/cells/base_2027q4_cargos:base/valueNone160.0
/operating_model/cells/base_2027q4_cash_after_claims:base/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/base_2027q4_cash_after_claims:base/caseNonebase
/operating_model/cells/base_2027q4_cash_after_claims:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_cash_after_claims:base/formula/refs/0Nonebase_2027q4_fcf
/operating_model/cells/base_2027q4_cash_after_claims:base/formula/refs/1Nonebase_2027q4_claims
/operating_model/cells/base_2027q4_cash_after_claims:base/idNonebase_2027q4_cash_after_claims
/operating_model/cells/base_2027q4_cash_after_claims:base/kindNonederived
/operating_model/cells/base_2027q4_cash_after_claims:base/labelNoneCash after distributions and principal
/operating_model/cells/base_2027q4_cash_after_claims:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_after_claims:base/valueNone-1855.4037140399996
/operating_model/cells/base_2027q4_cash_costs:base/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/base_2027q4_cash_costs:base/caseNonebase
/operating_model/cells/base_2027q4_cash_costs:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_cash_costs:base/formula/refs/0Nonebase_2027q4_cost_budget
/operating_model/cells/base_2027q4_cash_costs:base/formula/refs/1Nonebase_2027q4_cost_factor
/operating_model/cells/base_2027q4_cash_costs:base/idNonebase_2027q4_cash_costs
/operating_model/cells/base_2027q4_cash_costs:base/kindNonederived
/operating_model/cells/base_2027q4_cash_costs:base/labelNoneOperating costs net of other contribution
/operating_model/cells/base_2027q4_cash_costs:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_costs:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_costs:base/valueNone725.0
/operating_model/cells/base_2027q4_cash_interest:base/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/base_2027q4_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q4_cash_interest:base/idNonebase_2027q4_cash_interest
/operating_model/cells/base_2027q4_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_interest:base/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/base_2027q4_cash_interest:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_interest:base/valueNone575.0
/operating_model/cells/base_2027q4_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q4_cash_tax:base/idNonebase_2027q4_cash_tax
/operating_model/cells/base_2027q4_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_tax:base/labelNoneCash taxes
/operating_model/cells/base_2027q4_cash_tax:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_tax:base/valueNone120.0
/operating_model/cells/base_2027q4_cfo:base/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/base_2027q4_cfo:base/caseNonebase
/operating_model/cells/base_2027q4_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_cfo:base/formula/refs/0Nonebase_2027q4_adj_ebitda
/operating_model/cells/base_2027q4_cfo:base/formula/refs/1Nonebase_2027q4_cfo_uses
/operating_model/cells/base_2027q4_cfo:base/idNonebase_2027q4_cfo
/operating_model/cells/base_2027q4_cfo:base/kindNonederived
/operating_model/cells/base_2027q4_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q4_cfo:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cfo:base/valueNone940.2000000000003
/operating_model/cells/base_2027q4_cfo_uses:base/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/base_2027q4_cfo_uses:base/caseNonebase
/operating_model/cells/base_2027q4_cfo_uses:base/formula/opNonesum
/operating_model/cells/base_2027q4_cfo_uses:base/formula/refs/0Nonebase_2027q4_cash_interest
/operating_model/cells/base_2027q4_cfo_uses:base/formula/refs/1Nonebase_2027q4_cash_tax
/operating_model/cells/base_2027q4_cfo_uses:base/formula/refs/2Nonebase_2027q4_wc_use
/operating_model/cells/base_2027q4_cfo_uses:base/formula/refs/3Nonebase_2027q4_legal_cash_stress
/operating_model/cells/base_2027q4_cfo_uses:base/idNonebase_2027q4_cfo_uses
/operating_model/cells/base_2027q4_cfo_uses:base/kindNonederived
/operating_model/cells/base_2027q4_cfo_uses:base/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/base_2027q4_cfo_uses:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cfo_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cfo_uses:base/valueNone775.0
/operating_model/cells/base_2027q4_claims:base/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/base_2027q4_claims:base/caseNonebase
/operating_model/cells/base_2027q4_claims:base/formula/opNonesum
/operating_model/cells/base_2027q4_claims:base/formula/refs/0Nonebase_2027q4_subsidiary_distributions
/operating_model/cells/base_2027q4_claims:base/formula/refs/1Nonebase_2027q4_common_dividends
/operating_model/cells/base_2027q4_claims:base/formula/refs/2Nonebase_2027q4_preferred_redemption
/operating_model/cells/base_2027q4_claims:base/formula/refs/3Nonebase_2027q4_debt_principal
/operating_model/cells/base_2027q4_claims:base/idNonebase_2027q4_claims
/operating_model/cells/base_2027q4_claims:base/kindNonederived
/operating_model/cells/base_2027q4_claims:base/labelNoneDistributions redemption and principal
/operating_model/cells/base_2027q4_claims:base/periodNone2027Q4
/operating_model/cells/base_2027q4_claims:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_claims:base/valueNone295.60371404
/operating_model/cells/base_2027q4_commission_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q4_commission_fee:base/caseNonebase
/operating_model/cells/base_2027q4_commission_fee:base/idNonebase_2027q4_commission_fee
/operating_model/cells/base_2027q4_commission_fee:base/kindNoneassumption
/operating_model/cells/base_2027q4_commission_fee:base/labelNonecommission fee revenue per TBtu
/operating_model/cells/base_2027q4_commission_fee:base/periodNone2027Q4
/operating_model/cells/base_2027q4_commission_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_commission_fee:base/valueNone6.0
/operating_model/cells/base_2027q4_commission_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q4_commission_fees:base/caseNonebase
/operating_model/cells/base_2027q4_commission_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_commission_fees:base/formula/refs/0Nonebase_2027q4_volume
/operating_model/cells/base_2027q4_commission_fees:base/formula/refs/1Nonebase_2027q4_commission_share
/operating_model/cells/base_2027q4_commission_fees:base/formula/refs/2Nonebase_2027q4_commission_fee
/operating_model/cells/base_2027q4_commission_fees:base/idNonebase_2027q4_commission_fees
/operating_model/cells/base_2027q4_commission_fees:base/kindNonederived
/operating_model/cells/base_2027q4_commission_fees:base/labelNonecommission fee revenue
/operating_model/cells/base_2027q4_commission_fees:base/periodNone2027Q4
/operating_model/cells/base_2027q4_commission_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_commission_fees:base/valueNone352.8
/operating_model/cells/base_2027q4_commission_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_commission_share:base/caseNonebase
/operating_model/cells/base_2027q4_commission_share:base/idNonebase_2027q4_commission_share
/operating_model/cells/base_2027q4_commission_share:base/kindNoneassumption
/operating_model/cells/base_2027q4_commission_share:base/labelNonePrecontracted commissioning share
/operating_model/cells/base_2027q4_commission_share:base/periodNone2027Q4
/operating_model/cells/base_2027q4_commission_share:base/unitNoneratio
/operating_model/cells/base_2027q4_commission_share:base/valueNone0.1
/operating_model/cells/base_2027q4_common_dividends:base/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/base_2027q4_common_dividends:base/caseNonebase
/operating_model/cells/base_2027q4_common_dividends:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_common_dividends:base/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/base_2027q4_common_dividends:base/formula/refs/1Nonebase_2027q4_dividend_share_factor
/operating_model/cells/base_2027q4_common_dividends:base/formula/refs/2Nonebase_2027q4_dividend_factor
/operating_model/cells/base_2027q4_common_dividends:base/idNonebase_2027q4_common_dividends
/operating_model/cells/base_2027q4_common_dividends:base/kindNonederived
/operating_model/cells/base_2027q4_common_dividends:base/labelNoneCommon cash dividends
/operating_model/cells/base_2027q4_common_dividends:base/periodNone2027Q4
/operating_model/cells/base_2027q4_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_common_dividends:base/valueNone100.60371404
/operating_model/cells/base_2027q4_cost_budget:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cost_budget:base/caseNonebase
/operating_model/cells/base_2027q4_cost_budget:base/idNonebase_2027q4_cost_budget
/operating_model/cells/base_2027q4_cost_budget:base/kindNoneassumption
/operating_model/cells/base_2027q4_cost_budget:base/labelNoneOperating cost/contribution budget
/operating_model/cells/base_2027q4_cost_budget:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cost_budget:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cost_budget:base/valueNone725.0
/operating_model/cells/base_2027q4_cost_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cost_factor:base/caseNonebase
/operating_model/cells/base_2027q4_cost_factor:base/idNonebase_2027q4_cost_factor
/operating_model/cells/base_2027q4_cost_factor:base/kindNoneassumption
/operating_model/cells/base_2027q4_cost_factor:base/labelNoneCost execution stress
/operating_model/cells/base_2027q4_cost_factor:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cost_factor:base/unitNoneratio
/operating_model/cells/base_2027q4_cost_factor:base/valueNone1.0
/operating_model/cells/base_2027q4_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_da:base/caseNonebase
/operating_model/cells/base_2027q4_da:base/idNonebase_2027q4_da
/operating_model/cells/base_2027q4_da:base/kindNoneassumption
/operating_model/cells/base_2027q4_da:base/labelNoneDepreciation and amortization
/operating_model/cells/base_2027q4_da:base/periodNone2027Q4
/operating_model/cells/base_2027q4_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_da:base/valueNone375.0
/operating_model/cells/base_2027q4_debt_principal:base/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/base_2027q4_debt_principal:base/caseNonebase
/operating_model/cells/base_2027q4_debt_principal:base/idNonebase_2027q4_debt_principal
/operating_model/cells/base_2027q4_debt_principal:base/kindNoneassumption
/operating_model/cells/base_2027q4_debt_principal:base/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/base_2027q4_debt_principal:base/periodNone2027Q4
/operating_model/cells/base_2027q4_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_debt_principal:base/valueNone150.0
/operating_model/cells/base_2027q4_dividend_factor:base/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/base_2027q4_dividend_factor:base/caseNonebase
/operating_model/cells/base_2027q4_dividend_factor:base/idNonebase_2027q4_dividend_factor
/operating_model/cells/base_2027q4_dividend_factor:base/kindNoneassumption
/operating_model/cells/base_2027q4_dividend_factor:base/labelNoneDividend rate relative to September declaration
/operating_model/cells/base_2027q4_dividend_factor:base/periodNone2027Q4
/operating_model/cells/base_2027q4_dividend_factor:base/unitNoneratio
/operating_model/cells/base_2027q4_dividend_factor:base/valueNone1.0
/operating_model/cells/base_2027q4_dividend_share_factor:base/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/base_2027q4_dividend_share_factor:base/caseNonebase
/operating_model/cells/base_2027q4_dividend_share_factor:base/formula/opNonedivide
/operating_model/cells/base_2027q4_dividend_share_factor:base/formula/refs/0Nonebase_2027q4_shares
/operating_model/cells/base_2027q4_dividend_share_factor:base/formula/refs/1Nonecommon_shares
/operating_model/cells/base_2027q4_dividend_share_factor:base/idNonebase_2027q4_dividend_share_factor
/operating_model/cells/base_2027q4_dividend_share_factor:base/kindNonederived
/operating_model/cells/base_2027q4_dividend_share_factor:base/labelNoneShares relative to July baseline
/operating_model/cells/base_2027q4_dividend_share_factor:base/periodNone2027Q4
/operating_model/cells/base_2027q4_dividend_share_factor:base/unitNoneratio
/operating_model/cells/base_2027q4_dividend_share_factor:base/valueNone1.0059997771658762
/operating_model/cells/base_2027q4_fcf:base/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/base_2027q4_fcf:base/caseNonebase
/operating_model/cells/base_2027q4_fcf:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_fcf:base/formula/refs/0Nonebase_2027q4_cfo
/operating_model/cells/base_2027q4_fcf:base/formula/refs/1Nonebase_2027q4_capex
/operating_model/cells/base_2027q4_fcf:base/idNonebase_2027q4_fcf
/operating_model/cells/base_2027q4_fcf:base/kindNonederived
/operating_model/cells/base_2027q4_fcf:base/labelNoneCFO less cash capex
/operating_model/cells/base_2027q4_fcf:base/periodNone2027Q4
/operating_model/cells/base_2027q4_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_fcf:base/valueNone-1559.7999999999997
/operating_model/cells/base_2027q4_fee_revenue:base/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/base_2027q4_fee_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_fee_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q4_fee_revenue:base/formula/refs/0Nonebase_2027q4_spa_fees
/operating_model/cells/base_2027q4_fee_revenue:base/formula/refs/1Nonebase_2027q4_commission_fees
/operating_model/cells/base_2027q4_fee_revenue:base/formula/refs/2Nonebase_2027q4_merchant_fees
/operating_model/cells/base_2027q4_fee_revenue:base/idNonebase_2027q4_fee_revenue
/operating_model/cells/base_2027q4_fee_revenue:base/kindNonederived
/operating_model/cells/base_2027q4_fee_revenue:base/labelNoneLNG fee revenue
/operating_model/cells/base_2027q4_fee_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_fee_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_fee_revenue:base/valueNone2440.2000000000003
/operating_model/cells/base_2027q4_feed_gas:base/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/base_2027q4_feed_gas:base/caseNonebase
/operating_model/cells/base_2027q4_feed_gas:base/idNonebase_2027q4_feed_gas
/operating_model/cells/base_2027q4_feed_gas:base/kindNoneassumption
/operating_model/cells/base_2027q4_feed_gas:base/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/base_2027q4_feed_gas:base/periodNone2027Q4
/operating_model/cells/base_2027q4_feed_gas:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_feed_gas:base/valueNone3.5
/operating_model/cells/base_2027q4_feed_gas_recovery:base/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/base_2027q4_feed_gas_recovery:base/caseNonebase
/operating_model/cells/base_2027q4_feed_gas_recovery:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_feed_gas_recovery:base/formula/refs/0Nonebase_2027q4_volume
/operating_model/cells/base_2027q4_feed_gas_recovery:base/formula/refs/1Nonebase_2027q4_feed_gas
/operating_model/cells/base_2027q4_feed_gas_recovery:base/idNonebase_2027q4_feed_gas_recovery
/operating_model/cells/base_2027q4_feed_gas_recovery:base/kindNonederived
/operating_model/cells/base_2027q4_feed_gas_recovery:base/labelNoneFeed gas recovery revenue
/operating_model/cells/base_2027q4_feed_gas_recovery:base/periodNone2027Q4
/operating_model/cells/base_2027q4_feed_gas_recovery:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_feed_gas_recovery:base/valueNone2058.0
/operating_model/cells/base_2027q4_legal_cash_stress:base/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/base_2027q4_legal_cash_stress:base/caseNonebase
/operating_model/cells/base_2027q4_legal_cash_stress:base/idNonebase_2027q4_legal_cash_stress
/operating_model/cells/base_2027q4_legal_cash_stress:base/kindNoneassumption
/operating_model/cells/base_2027q4_legal_cash_stress:base/labelNoneAdditional litigation cash stress
/operating_model/cells/base_2027q4_legal_cash_stress:base/periodNone2027Q4
/operating_model/cells/base_2027q4_legal_cash_stress:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_legal_cash_stress:base/valueNone0.0
/operating_model/cells/base_2027q4_merchant_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q4_merchant_fee:base/caseNonebase
/operating_model/cells/base_2027q4_merchant_fee:base/idNonebase_2027q4_merchant_fee
/operating_model/cells/base_2027q4_merchant_fee:base/kindNoneassumption
/operating_model/cells/base_2027q4_merchant_fee:base/labelNonemerchant fee revenue per TBtu
/operating_model/cells/base_2027q4_merchant_fee:base/periodNone2027Q4
/operating_model/cells/base_2027q4_merchant_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_merchant_fee:base/valueNone9.0
/operating_model/cells/base_2027q4_merchant_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q4_merchant_fees:base/caseNonebase
/operating_model/cells/base_2027q4_merchant_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_merchant_fees:base/formula/refs/0Nonebase_2027q4_volume
/operating_model/cells/base_2027q4_merchant_fees:base/formula/refs/1Nonebase_2027q4_merchant_share
/operating_model/cells/base_2027q4_merchant_fees:base/formula/refs/2Nonebase_2027q4_merchant_fee
/operating_model/cells/base_2027q4_merchant_fees:base/idNonebase_2027q4_merchant_fees
/operating_model/cells/base_2027q4_merchant_fees:base/kindNonederived
/operating_model/cells/base_2027q4_merchant_fees:base/labelNonemerchant fee revenue
/operating_model/cells/base_2027q4_merchant_fees:base/periodNone2027Q4
/operating_model/cells/base_2027q4_merchant_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_merchant_fees:base/valueNone1058.4000000000003
/operating_model/cells/base_2027q4_merchant_share:base/basisNoneNo double-counted sales mix.
/operating_model/cells/base_2027q4_merchant_share:base/caseNonebase
/operating_model/cells/base_2027q4_merchant_share:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_merchant_share:base/formula/refs/0Nonebase_2027q4_one
/operating_model/cells/base_2027q4_merchant_share:base/formula/refs/1Nonebase_2027q4_nonmerchant_share
/operating_model/cells/base_2027q4_merchant_share:base/idNonebase_2027q4_merchant_share
/operating_model/cells/base_2027q4_merchant_share:base/kindNonederived
/operating_model/cells/base_2027q4_merchant_share:base/labelNoneRemaining merchant volume share
/operating_model/cells/base_2027q4_merchant_share:base/periodNone2027Q4
/operating_model/cells/base_2027q4_merchant_share:base/unitNoneratio
/operating_model/cells/base_2027q4_merchant_share:base/valueNone0.20000000000000007
/operating_model/cells/base_2027q4_nci_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_nci_cash:base/caseNonebase
/operating_model/cells/base_2027q4_nci_cash:base/idNonebase_2027q4_nci_cash
/operating_model/cells/base_2027q4_nci_cash:base/kindNoneassumption
/operating_model/cells/base_2027q4_nci_cash:base/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/base_2027q4_nci_cash:base/periodNone2027Q4
/operating_model/cells/base_2027q4_nci_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_nci_cash:base/valueNone45.0
/operating_model/cells/base_2027q4_noncash_deductions:base/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/base_2027q4_noncash_deductions:base/caseNonebase
/operating_model/cells/base_2027q4_noncash_deductions:base/formula/opNonesum
/operating_model/cells/base_2027q4_noncash_deductions:base/formula/refs/0Nonebase_2027q4_da
/operating_model/cells/base_2027q4_noncash_deductions:base/formula/refs/1Nonebase_2027q4_sbc
/operating_model/cells/base_2027q4_noncash_deductions:base/formula/refs/2Nonebase_2027q4_other_adjustments
/operating_model/cells/base_2027q4_noncash_deductions:base/idNonebase_2027q4_noncash_deductions
/operating_model/cells/base_2027q4_noncash_deductions:base/kindNonederived
/operating_model/cells/base_2027q4_noncash_deductions:base/labelNoneD&A equity expense and other deductions
/operating_model/cells/base_2027q4_noncash_deductions:base/periodNone2027Q4
/operating_model/cells/base_2027q4_noncash_deductions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_noncash_deductions:base/valueNone405.0
/operating_model/cells/base_2027q4_nonmerchant_share:base/basisNoneMutually exclusive price buckets.
/operating_model/cells/base_2027q4_nonmerchant_share:base/caseNonebase
/operating_model/cells/base_2027q4_nonmerchant_share:base/formula/opNonesum
/operating_model/cells/base_2027q4_nonmerchant_share:base/formula/refs/0Nonebase_2027q4_spa_share
/operating_model/cells/base_2027q4_nonmerchant_share:base/formula/refs/1Nonebase_2027q4_commission_share
/operating_model/cells/base_2027q4_nonmerchant_share:base/idNonebase_2027q4_nonmerchant_share
/operating_model/cells/base_2027q4_nonmerchant_share:base/kindNonederived
/operating_model/cells/base_2027q4_nonmerchant_share:base/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/base_2027q4_nonmerchant_share:base/periodNone2027Q4
/operating_model/cells/base_2027q4_nonmerchant_share:base/unitNoneratio
/operating_model/cells/base_2027q4_nonmerchant_share:base/valueNone0.7999999999999999
/operating_model/cells/base_2027q4_one:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_one:base/caseNonebase
/operating_model/cells/base_2027q4_one:base/idNonebase_2027q4_one
/operating_model/cells/base_2027q4_one:base/kindNoneassumption
/operating_model/cells/base_2027q4_one:base/labelNoneAll recognized volume
/operating_model/cells/base_2027q4_one:base/periodNone2027Q4
/operating_model/cells/base_2027q4_one:base/unitNoneratio
/operating_model/cells/base_2027q4_one:base/valueNone1.0
/operating_model/cells/base_2027q4_operating_income:base/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/base_2027q4_operating_income:base/caseNonebase
/operating_model/cells/base_2027q4_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_operating_income:base/formula/refs/0Nonebase_2027q4_adj_ebitda
/operating_model/cells/base_2027q4_operating_income:base/formula/refs/1Nonebase_2027q4_noncash_deductions
/operating_model/cells/base_2027q4_operating_income:base/idNonebase_2027q4_operating_income
/operating_model/cells/base_2027q4_operating_income:base/kindNonederived
/operating_model/cells/base_2027q4_operating_income:base/labelNoneGAAP operating income proxy
/operating_model/cells/base_2027q4_operating_income:base/periodNone2027Q4
/operating_model/cells/base_2027q4_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_operating_income:base/valueNone1310.2000000000003
/operating_model/cells/base_2027q4_other_adjustments:base/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/base_2027q4_other_adjustments:base/caseNonebase
/operating_model/cells/base_2027q4_other_adjustments:base/idNonebase_2027q4_other_adjustments
/operating_model/cells/base_2027q4_other_adjustments:base/kindNoneassumption
/operating_model/cells/base_2027q4_other_adjustments:base/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/base_2027q4_other_adjustments:base/periodNone2027Q4
/operating_model/cells/base_2027q4_other_adjustments:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_other_adjustments:base/valueNone5.0
/operating_model/cells/base_2027q4_preferred_redemption:base/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/base_2027q4_preferred_redemption:base/caseNonebase
/operating_model/cells/base_2027q4_preferred_redemption:base/idNonebase_2027q4_preferred_redemption
/operating_model/cells/base_2027q4_preferred_redemption:base/kindNoneassumption
/operating_model/cells/base_2027q4_preferred_redemption:base/labelNoneCP Funding preferred redemption
/operating_model/cells/base_2027q4_preferred_redemption:base/periodNone2027Q4
/operating_model/cells/base_2027q4_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_2027q4_revenue:base/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/base_2027q4_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q4_revenue:base/formula/refs/0Nonebase_2027q4_fee_revenue
/operating_model/cells/base_2027q4_revenue:base/formula/refs/1Nonebase_2027q4_feed_gas_recovery
/operating_model/cells/base_2027q4_revenue:base/idNonebase_2027q4_revenue
/operating_model/cells/base_2027q4_revenue:base/kindNonederived
/operating_model/cells/base_2027q4_revenue:base/labelNoneConsolidated revenue proxy
/operating_model/cells/base_2027q4_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_revenue:base/valueNone4498.200000000001
/operating_model/cells/base_2027q4_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_sbc:base/caseNonebase
/operating_model/cells/base_2027q4_sbc:base/idNonebase_2027q4_sbc
/operating_model/cells/base_2027q4_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q4_sbc:base/labelNoneStock compensation
/operating_model/cells/base_2027q4_sbc:base/periodNone2027Q4
/operating_model/cells/base_2027q4_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_sbc:base/valueNone25.0
/operating_model/cells/base_2027q4_series_a_cash:base/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/base_2027q4_series_a_cash:base/caseNonebase
/operating_model/cells/base_2027q4_series_a_cash:base/idNonebase_2027q4_series_a_cash
/operating_model/cells/base_2027q4_series_a_cash:base/kindNoneassumption
/operating_model/cells/base_2027q4_series_a_cash:base/labelNoneVGLNG Series A cash dividend
/operating_model/cells/base_2027q4_series_a_cash:base/periodNone2027Q4
/operating_model/cells/base_2027q4_series_a_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_series_a_cash:base/valueNone0.0
/operating_model/cells/base_2027q4_share_growth:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_share_growth:base/caseNonebase
/operating_model/cells/base_2027q4_share_growth:base/idNonebase_2027q4_share_growth
/operating_model/cells/base_2027q4_share_growth:base/kindNoneassumption
/operating_model/cells/base_2027q4_share_growth:base/labelNoneAdditional common shares since July
/operating_model/cells/base_2027q4_share_growth:base/periodNone2027Q4
/operating_model/cells/base_2027q4_share_growth:base/unitNoneshares_millions
/operating_model/cells/base_2027q4_share_growth:base/valueNone15.0
/operating_model/cells/base_2027q4_shares:base/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/base_2027q4_shares:base/caseNonebase
/operating_model/cells/base_2027q4_shares:base/formula/opNonesum
/operating_model/cells/base_2027q4_shares:base/formula/refs/0Nonecommon_shares
/operating_model/cells/base_2027q4_shares:base/formula/refs/1Nonebase_2027q4_share_growth
/operating_model/cells/base_2027q4_shares:base/idNonebase_2027q4_shares
/operating_model/cells/base_2027q4_shares:base/kindNonederived
/operating_model/cells/base_2027q4_shares:base/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/base_2027q4_shares:base/periodNone2027Q4
/operating_model/cells/base_2027q4_shares:base/unitNoneshares_millions
/operating_model/cells/base_2027q4_shares:base/valueNone2515.092851
/operating_model/cells/base_2027q4_spa_fee:base/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/base_2027q4_spa_fee:base/caseNonebase
/operating_model/cells/base_2027q4_spa_fee:base/idNonebase_2027q4_spa_fee
/operating_model/cells/base_2027q4_spa_fee:base/kindNoneassumption
/operating_model/cells/base_2027q4_spa_fee:base/labelNonespa fee revenue per TBtu
/operating_model/cells/base_2027q4_spa_fee:base/periodNone2027Q4
/operating_model/cells/base_2027q4_spa_fee:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_spa_fee:base/valueNone2.5
/operating_model/cells/base_2027q4_spa_fees:base/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/base_2027q4_spa_fees:base/caseNonebase
/operating_model/cells/base_2027q4_spa_fees:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_spa_fees:base/formula/refs/0Nonebase_2027q4_volume
/operating_model/cells/base_2027q4_spa_fees:base/formula/refs/1Nonebase_2027q4_spa_share
/operating_model/cells/base_2027q4_spa_fees:base/formula/refs/2Nonebase_2027q4_spa_fee
/operating_model/cells/base_2027q4_spa_fees:base/idNonebase_2027q4_spa_fees
/operating_model/cells/base_2027q4_spa_fees:base/kindNonederived
/operating_model/cells/base_2027q4_spa_fees:base/labelNonespa fee revenue
/operating_model/cells/base_2027q4_spa_fees:base/periodNone2027Q4
/operating_model/cells/base_2027q4_spa_fees:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_spa_fees:base/valueNone1029.0
/operating_model/cells/base_2027q4_spa_share:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_spa_share:base/caseNonebase
/operating_model/cells/base_2027q4_spa_share:base/idNonebase_2027q4_spa_share
/operating_model/cells/base_2027q4_spa_share:base/kindNoneassumption
/operating_model/cells/base_2027q4_spa_share:base/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/base_2027q4_spa_share:base/periodNone2027Q4
/operating_model/cells/base_2027q4_spa_share:base/unitNoneratio
/operating_model/cells/base_2027q4_spa_share:base/valueNone0.7
/operating_model/cells/base_2027q4_subsidiary_distributions:base/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/base_2027q4_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_2027q4_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_2027q4_subsidiary_distributions:base/formula/refs/0Nonebase_2027q4_series_a_cash
/operating_model/cells/base_2027q4_subsidiary_distributions:base/formula/refs/1Nonebase_2027q4_nci_cash
/operating_model/cells/base_2027q4_subsidiary_distributions:base/idNonebase_2027q4_subsidiary_distributions
/operating_model/cells/base_2027q4_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_2027q4_subsidiary_distributions:base/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/base_2027q4_subsidiary_distributions:base/periodNone2027Q4
/operating_model/cells/base_2027q4_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_subsidiary_distributions:base/valueNone45.0
/operating_model/cells/base_2027q4_volume:base/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/base_2027q4_volume:base/caseNonebase
/operating_model/cells/base_2027q4_volume:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_volume:base/formula/refs/0Nonebase_2027q4_cargos
/operating_model/cells/base_2027q4_volume:base/formula/refs/1Nonecargo_size
/operating_model/cells/base_2027q4_volume:base/formula/refs/2Nonesales_timing
/operating_model/cells/base_2027q4_volume:base/idNonebase_2027q4_volume
/operating_model/cells/base_2027q4_volume:base/kindNonederived
/operating_model/cells/base_2027q4_volume:base/labelNoneRecognized LNG sales TBtu
/operating_model/cells/base_2027q4_volume:base/periodNone2027Q4
/operating_model/cells/base_2027q4_volume:base/unitNoneratio
/operating_model/cells/base_2027q4_volume:base/valueNone588.0
/operating_model/cells/base_2027q4_volume_factor:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_volume_factor:base/caseNonebase
/operating_model/cells/base_2027q4_volume_factor:base/idNonebase_2027q4_volume_factor
/operating_model/cells/base_2027q4_volume_factor:base/kindNoneassumption
/operating_model/cells/base_2027q4_volume_factor:base/labelNoneCargo delivery factor
/operating_model/cells/base_2027q4_volume_factor:base/periodNone2027Q4
/operating_model/cells/base_2027q4_volume_factor:base/unitNoneratio
/operating_model/cells/base_2027q4_volume_factor:base/valueNone1.0
/operating_model/cells/base_2027q4_wc_use:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_wc_use:base/caseNonebase
/operating_model/cells/base_2027q4_wc_use:base/idNonebase_2027q4_wc_use
/operating_model/cells/base_2027q4_wc_use:base/kindNoneassumption
/operating_model/cells/base_2027q4_wc_use:base/labelNoneNet working-capital and other operating cash use
/operating_model/cells/base_2027q4_wc_use:base/periodNone2027Q4
/operating_model/cells/base_2027q4_wc_use:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_wc_use:base/valueNone80.0
/operating_model/cells/base_fy2026_adj_ebitda:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_adj_ebitda:base/caseNonebase
/operating_model/cells/base_fy2026_adj_ebitda:base/formula/opNonesum
/operating_model/cells/base_fy2026_adj_ebitda:base/formula/refs/0Noneh1_adj_ebitda
/operating_model/cells/base_fy2026_adj_ebitda:base/formula/refs/1Nonebase_2026q3_adj_ebitda
/operating_model/cells/base_fy2026_adj_ebitda:base/formula/refs/2Nonebase_2026q4_adj_ebitda
/operating_model/cells/base_fy2026_adj_ebitda:base/idNonebase_fy2026_adj_ebitda
/operating_model/cells/base_fy2026_adj_ebitda:base/kindNonederived
/operating_model/cells/base_fy2026_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/base_fy2026_adj_ebitda:base/periodNoneFY2026
/operating_model/cells/base_fy2026_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_adj_ebitda:base/valueNone8900.0
/operating_model/cells/base_fy2026_capex:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_capex:base/caseNonebase
/operating_model/cells/base_fy2026_capex:base/formula/opNonesum
/operating_model/cells/base_fy2026_capex:base/formula/refs/0Noneh1_capex
/operating_model/cells/base_fy2026_capex:base/formula/refs/1Nonebase_2026q3_capex
/operating_model/cells/base_fy2026_capex:base/formula/refs/2Nonebase_2026q4_capex
/operating_model/cells/base_fy2026_capex:base/idNonebase_fy2026_capex
/operating_model/cells/base_fy2026_capex:base/kindNonederived
/operating_model/cells/base_fy2026_capex:base/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/base_fy2026_capex:base/periodNoneFY2026
/operating_model/cells/base_fy2026_capex:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_capex:base/valueNone13900.0
/operating_model/cells/base_fy2026_cash_after_claims:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_cash_after_claims:base/caseNonebase
/operating_model/cells/base_fy2026_cash_after_claims:base/formula/opNonesum
/operating_model/cells/base_fy2026_cash_after_claims:base/formula/refs/0Noneh1_cash_after_claims
/operating_model/cells/base_fy2026_cash_after_claims:base/formula/refs/1Nonebase_2026q3_cash_after_claims
/operating_model/cells/base_fy2026_cash_after_claims:base/formula/refs/2Nonebase_2026q4_cash_after_claims
/operating_model/cells/base_fy2026_cash_after_claims:base/idNonebase_fy2026_cash_after_claims
/operating_model/cells/base_fy2026_cash_after_claims:base/kindNonederived
/operating_model/cells/base_fy2026_cash_after_claims:base/labelNoneCash after distributions and principal ($M)
/operating_model/cells/base_fy2026_cash_after_claims:base/periodNoneFY2026
/operating_model/cells/base_fy2026_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_cash_after_claims:base/valueNone-14103.127428079999
/operating_model/cells/base_fy2026_cfo:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_cfo:base/caseNonebase
/operating_model/cells/base_fy2026_cfo:base/formula/opNonesum
/operating_model/cells/base_fy2026_cfo:base/formula/refs/0Noneh1_cfo
/operating_model/cells/base_fy2026_cfo:base/formula/refs/1Nonebase_2026q3_cfo
/operating_model/cells/base_fy2026_cfo:base/formula/refs/2Nonebase_2026q4_cfo
/operating_model/cells/base_fy2026_cfo:base/idNonebase_fy2026_cfo
/operating_model/cells/base_fy2026_cfo:base/kindNonederived
/operating_model/cells/base_fy2026_cfo:base/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/base_fy2026_cfo:base/periodNoneFY2026
/operating_model/cells/base_fy2026_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_cfo:base/valueNone6497.0
/operating_model/cells/base_fy2026_common_dividends:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_common_dividends:base/caseNonebase
/operating_model/cells/base_fy2026_common_dividends:base/formula/opNonesum
/operating_model/cells/base_fy2026_common_dividends:base/formula/refs/0Noneh1_common_dividends
/operating_model/cells/base_fy2026_common_dividends:base/formula/refs/1Nonebase_2026q3_common_dividends
/operating_model/cells/base_fy2026_common_dividends:base/formula/refs/2Nonebase_2026q4_common_dividends
/operating_model/cells/base_fy2026_common_dividends:base/idNonebase_fy2026_common_dividends
/operating_model/cells/base_fy2026_common_dividends:base/kindNonederived
/operating_model/cells/base_fy2026_common_dividends:base/labelNoneCommon cash dividends ($M)
/operating_model/cells/base_fy2026_common_dividends:base/periodNoneFY2026
/operating_model/cells/base_fy2026_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_common_dividends:base/valueNone289.12742807999996
/operating_model/cells/base_fy2026_debt_principal:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_debt_principal:base/caseNonebase
/operating_model/cells/base_fy2026_debt_principal:base/formula/opNonesum
/operating_model/cells/base_fy2026_debt_principal:base/formula/refs/0Noneh1_debt_principal
/operating_model/cells/base_fy2026_debt_principal:base/formula/refs/1Nonebase_2026q3_debt_principal
/operating_model/cells/base_fy2026_debt_principal:base/formula/refs/2Nonebase_2026q4_debt_principal
/operating_model/cells/base_fy2026_debt_principal:base/idNonebase_fy2026_debt_principal
/operating_model/cells/base_fy2026_debt_principal:base/kindNonederived
/operating_model/cells/base_fy2026_debt_principal:base/labelNoneDebt principal repayments ($M)
/operating_model/cells/base_fy2026_debt_principal:base/periodNoneFY2026
/operating_model/cells/base_fy2026_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_debt_principal:base/valueNone4243.0
/operating_model/cells/base_fy2026_fcf:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_fcf:base/caseNonebase
/operating_model/cells/base_fy2026_fcf:base/formula/opNonesum
/operating_model/cells/base_fy2026_fcf:base/formula/refs/0Noneh1_fcf
/operating_model/cells/base_fy2026_fcf:base/formula/refs/1Nonebase_2026q3_fcf
/operating_model/cells/base_fy2026_fcf:base/formula/refs/2Nonebase_2026q4_fcf
/operating_model/cells/base_fy2026_fcf:base/idNonebase_fy2026_fcf
/operating_model/cells/base_fy2026_fcf:base/kindNonederived
/operating_model/cells/base_fy2026_fcf:base/labelNoneCFO less cash capex ($M)
/operating_model/cells/base_fy2026_fcf:base/periodNoneFY2026
/operating_model/cells/base_fy2026_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_fcf:base/valueNone-7403.0
/operating_model/cells/base_fy2026_operating_income:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_operating_income:base/caseNonebase
/operating_model/cells/base_fy2026_operating_income:base/formula/opNonesum
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/0Noneh1_operating_income
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/1Nonebase_2026q3_operating_income
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/2Nonebase_2026q4_operating_income
/operating_model/cells/base_fy2026_operating_income:base/idNonebase_fy2026_operating_income
/operating_model/cells/base_fy2026_operating_income:base/kindNonederived
/operating_model/cells/base_fy2026_operating_income:base/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/base_fy2026_operating_income:base/periodNoneFY2026
/operating_model/cells/base_fy2026_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_operating_income:base/valueNone7774.0
/operating_model/cells/base_fy2026_preferred_redemption:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_preferred_redemption:base/caseNonebase
/operating_model/cells/base_fy2026_preferred_redemption:base/formula/opNonesum
/operating_model/cells/base_fy2026_preferred_redemption:base/formula/refs/0Noneh1_preferred_redemption
/operating_model/cells/base_fy2026_preferred_redemption:base/formula/refs/1Nonebase_2026q3_preferred_redemption
/operating_model/cells/base_fy2026_preferred_redemption:base/formula/refs/2Nonebase_2026q4_preferred_redemption
/operating_model/cells/base_fy2026_preferred_redemption:base/idNonebase_fy2026_preferred_redemption
/operating_model/cells/base_fy2026_preferred_redemption:base/kindNonederived
/operating_model/cells/base_fy2026_preferred_redemption:base/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/base_fy2026_preferred_redemption:base/periodNoneFY2026
/operating_model/cells/base_fy2026_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_preferred_redemption:base/valueNone1743.0
/operating_model/cells/base_fy2026_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_revenue:base/caseNonebase
/operating_model/cells/base_fy2026_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2026_revenue:base/formula/refs/0Noneh1_revenue
/operating_model/cells/base_fy2026_revenue:base/formula/refs/1Nonebase_2026q3_revenue
/operating_model/cells/base_fy2026_revenue:base/formula/refs/2Nonebase_2026q4_revenue
/operating_model/cells/base_fy2026_revenue:base/idNonebase_fy2026_revenue
/operating_model/cells/base_fy2026_revenue:base/kindNonederived
/operating_model/cells/base_fy2026_revenue:base/labelNoneConsolidated revenue ($M)
/operating_model/cells/base_fy2026_revenue:base/periodNoneFY2026
/operating_model/cells/base_fy2026_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_revenue:base/valueNone19108.455
/operating_model/cells/base_fy2026_subsidiary_distributions:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_fy2026_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_fy2026_subsidiary_distributions:base/formula/refs/0Noneh1_subsidiary_distributions
/operating_model/cells/base_fy2026_subsidiary_distributions:base/formula/refs/1Nonebase_2026q3_subsidiary_distributions
/operating_model/cells/base_fy2026_subsidiary_distributions:base/formula/refs/2Nonebase_2026q4_subsidiary_distributions
/operating_model/cells/base_fy2026_subsidiary_distributions:base/idNonebase_fy2026_subsidiary_distributions
/operating_model/cells/base_fy2026_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_fy2026_subsidiary_distributions:base/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/base_fy2026_subsidiary_distributions:base/periodNoneFY2026
/operating_model/cells/base_fy2026_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_subsidiary_distributions:base/valueNone425.0
/operating_model/cells/base_fy2027_adj_ebitda:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_adj_ebitda:base/caseNonebase
/operating_model/cells/base_fy2027_adj_ebitda:base/formula/opNonesum
/operating_model/cells/base_fy2027_adj_ebitda:base/formula/refs/0Nonebase_2027q1_adj_ebitda
/operating_model/cells/base_fy2027_adj_ebitda:base/formula/refs/1Nonebase_2027q2_adj_ebitda
/operating_model/cells/base_fy2027_adj_ebitda:base/formula/refs/2Nonebase_2027q3_adj_ebitda
/operating_model/cells/base_fy2027_adj_ebitda:base/formula/refs/3Nonebase_2027q4_adj_ebitda
/operating_model/cells/base_fy2027_adj_ebitda:base/idNonebase_fy2027_adj_ebitda
/operating_model/cells/base_fy2027_adj_ebitda:base/kindNonederived
/operating_model/cells/base_fy2027_adj_ebitda:base/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/base_fy2027_adj_ebitda:base/periodNoneFY2027
/operating_model/cells/base_fy2027_adj_ebitda:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_adj_ebitda:base/valueNone6886.768750000001
/operating_model/cells/base_fy2027_capex:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_capex:base/caseNonebase
/operating_model/cells/base_fy2027_capex:base/formula/opNonesum
/operating_model/cells/base_fy2027_capex:base/formula/refs/0Nonebase_2027q1_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/1Nonebase_2027q2_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/2Nonebase_2027q3_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/3Nonebase_2027q4_capex
/operating_model/cells/base_fy2027_capex:base/idNonebase_fy2027_capex
/operating_model/cells/base_fy2027_capex:base/kindNonederived
/operating_model/cells/base_fy2027_capex:base/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/base_fy2027_capex:base/periodNoneFY2027
/operating_model/cells/base_fy2027_capex:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_capex:base/valueNone11900.0
/operating_model/cells/base_fy2027_cash_after_claims:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_cash_after_claims:base/caseNonebase
/operating_model/cells/base_fy2027_cash_after_claims:base/formula/opNonesum
/operating_model/cells/base_fy2027_cash_after_claims:base/formula/refs/0Nonebase_2027q1_cash_after_claims
/operating_model/cells/base_fy2027_cash_after_claims:base/formula/refs/1Nonebase_2027q2_cash_after_claims
/operating_model/cells/base_fy2027_cash_after_claims:base/formula/refs/2Nonebase_2027q3_cash_after_claims
/operating_model/cells/base_fy2027_cash_after_claims:base/formula/refs/3Nonebase_2027q4_cash_after_claims
/operating_model/cells/base_fy2027_cash_after_claims:base/idNonebase_fy2027_cash_after_claims
/operating_model/cells/base_fy2027_cash_after_claims:base/kindNonederived
/operating_model/cells/base_fy2027_cash_after_claims:base/labelNoneCash after distributions and principal ($M)
/operating_model/cells/base_fy2027_cash_after_claims:base/periodNoneFY2027
/operating_model/cells/base_fy2027_cash_after_claims:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_cash_after_claims:base/valueNone-9524.92610616
/operating_model/cells/base_fy2027_cfo:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_cfo:base/caseNonebase
/operating_model/cells/base_fy2027_cfo:base/formula/opNonesum
/operating_model/cells/base_fy2027_cfo:base/formula/refs/0Nonebase_2027q1_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/1Nonebase_2027q2_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/2Nonebase_2027q3_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/3Nonebase_2027q4_cfo
/operating_model/cells/base_fy2027_cfo:base/idNonebase_fy2027_cfo
/operating_model/cells/base_fy2027_cfo:base/kindNonederived
/operating_model/cells/base_fy2027_cfo:base/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/base_fy2027_cfo:base/periodNoneFY2027
/operating_model/cells/base_fy2027_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_cfo:base/valueNone3826.768750000001
/operating_model/cells/base_fy2027_common_dividends:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_common_dividends:base/caseNonebase
/operating_model/cells/base_fy2027_common_dividends:base/formula/opNonesum
/operating_model/cells/base_fy2027_common_dividends:base/formula/refs/0Nonebase_2027q1_common_dividends
/operating_model/cells/base_fy2027_common_dividends:base/formula/refs/1Nonebase_2027q2_common_dividends
/operating_model/cells/base_fy2027_common_dividends:base/formula/refs/2Nonebase_2027q3_common_dividends
/operating_model/cells/base_fy2027_common_dividends:base/formula/refs/3Nonebase_2027q4_common_dividends
/operating_model/cells/base_fy2027_common_dividends:base/idNonebase_fy2027_common_dividends
/operating_model/cells/base_fy2027_common_dividends:base/kindNonederived
/operating_model/cells/base_fy2027_common_dividends:base/labelNoneCommon cash dividends ($M)
/operating_model/cells/base_fy2027_common_dividends:base/periodNoneFY2027
/operating_model/cells/base_fy2027_common_dividends:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_common_dividends:base/valueNone401.69485616
/operating_model/cells/base_fy2027_debt_principal:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_debt_principal:base/caseNonebase
/operating_model/cells/base_fy2027_debt_principal:base/formula/opNonesum
/operating_model/cells/base_fy2027_debt_principal:base/formula/refs/0Nonebase_2027q1_debt_principal
/operating_model/cells/base_fy2027_debt_principal:base/formula/refs/1Nonebase_2027q2_debt_principal
/operating_model/cells/base_fy2027_debt_principal:base/formula/refs/2Nonebase_2027q3_debt_principal
/operating_model/cells/base_fy2027_debt_principal:base/formula/refs/3Nonebase_2027q4_debt_principal
/operating_model/cells/base_fy2027_debt_principal:base/idNonebase_fy2027_debt_principal
/operating_model/cells/base_fy2027_debt_principal:base/kindNonederived
/operating_model/cells/base_fy2027_debt_principal:base/labelNoneDebt principal repayments ($M)
/operating_model/cells/base_fy2027_debt_principal:base/periodNoneFY2027
/operating_model/cells/base_fy2027_debt_principal:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_debt_principal:base/valueNone600.0
/operating_model/cells/base_fy2027_fcf:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_fcf:base/caseNonebase
/operating_model/cells/base_fy2027_fcf:base/formula/opNonesum
/operating_model/cells/base_fy2027_fcf:base/formula/refs/0Nonebase_2027q1_fcf
/operating_model/cells/base_fy2027_fcf:base/formula/refs/1Nonebase_2027q2_fcf
/operating_model/cells/base_fy2027_fcf:base/formula/refs/2Nonebase_2027q3_fcf
/operating_model/cells/base_fy2027_fcf:base/formula/refs/3Nonebase_2027q4_fcf
/operating_model/cells/base_fy2027_fcf:base/idNonebase_fy2027_fcf
/operating_model/cells/base_fy2027_fcf:base/kindNonederived
/operating_model/cells/base_fy2027_fcf:base/labelNoneCFO less cash capex ($M)
/operating_model/cells/base_fy2027_fcf:base/periodNoneFY2027
/operating_model/cells/base_fy2027_fcf:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_fcf:base/valueNone-8073.231249999999
/operating_model/cells/base_fy2027_operating_income:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_operating_income:base/caseNonebase
/operating_model/cells/base_fy2027_operating_income:base/formula/opNonesum
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/0Nonebase_2027q1_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/1Nonebase_2027q2_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/2Nonebase_2027q3_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/3Nonebase_2027q4_operating_income
/operating_model/cells/base_fy2027_operating_income:base/idNonebase_fy2027_operating_income
/operating_model/cells/base_fy2027_operating_income:base/kindNonederived
/operating_model/cells/base_fy2027_operating_income:base/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/base_fy2027_operating_income:base/periodNoneFY2027
/operating_model/cells/base_fy2027_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_operating_income:base/valueNone5398.768750000001
/operating_model/cells/base_fy2027_preferred_redemption:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_preferred_redemption:base/caseNonebase
/operating_model/cells/base_fy2027_preferred_redemption:base/formula/opNonesum
/operating_model/cells/base_fy2027_preferred_redemption:base/formula/refs/0Nonebase_2027q1_preferred_redemption
/operating_model/cells/base_fy2027_preferred_redemption:base/formula/refs/1Nonebase_2027q2_preferred_redemption
/operating_model/cells/base_fy2027_preferred_redemption:base/formula/refs/2Nonebase_2027q3_preferred_redemption
/operating_model/cells/base_fy2027_preferred_redemption:base/formula/refs/3Nonebase_2027q4_preferred_redemption
/operating_model/cells/base_fy2027_preferred_redemption:base/idNonebase_fy2027_preferred_redemption
/operating_model/cells/base_fy2027_preferred_redemption:base/kindNonederived
/operating_model/cells/base_fy2027_preferred_redemption:base/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/base_fy2027_preferred_redemption:base/periodNoneFY2027
/operating_model/cells/base_fy2027_preferred_redemption:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_preferred_redemption:base/valueNone0.0
/operating_model/cells/base_fy2027_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_revenue:base/caseNonebase
/operating_model/cells/base_fy2027_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2027_revenue:base/formula/refs/0Nonebase_2027q1_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/1Nonebase_2027q2_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/2Nonebase_2027q3_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/3Nonebase_2027q4_revenue
/operating_model/cells/base_fy2027_revenue:base/idNonebase_fy2027_revenue
/operating_model/cells/base_fy2027_revenue:base/kindNonederived
/operating_model/cells/base_fy2027_revenue:base/labelNoneConsolidated revenue ($M)
/operating_model/cells/base_fy2027_revenue:base/periodNoneFY2027
/operating_model/cells/base_fy2027_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_revenue:base/valueNone16968.393750000003
/operating_model/cells/base_fy2027_subsidiary_distributions:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_subsidiary_distributions:base/caseNonebase
/operating_model/cells/base_fy2027_subsidiary_distributions:base/formula/opNonesum
/operating_model/cells/base_fy2027_subsidiary_distributions:base/formula/refs/0Nonebase_2027q1_subsidiary_distributions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/formula/refs/1Nonebase_2027q2_subsidiary_distributions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/formula/refs/2Nonebase_2027q3_subsidiary_distributions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/formula/refs/3Nonebase_2027q4_subsidiary_distributions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/idNonebase_fy2027_subsidiary_distributions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/kindNonederived
/operating_model/cells/base_fy2027_subsidiary_distributions:base/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/base_fy2027_subsidiary_distributions:base/periodNoneFY2027
/operating_model/cells/base_fy2027_subsidiary_distributions:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_subsidiary_distributions:base/valueNone450.0
/operating_model/cells/cargo_size:shared/basisNoneDesk normalized size, compared with Q2 exported 478.3 TBtu across 127 cargos; not volumes sold 466.4 TBtu.
/operating_model/cells/cargo_size:shared/caseNoneshared
/operating_model/cells/cargo_size:shared/idNonecargo_size
/operating_model/cells/cargo_size:shared/kindNoneassumption
/operating_model/cells/cargo_size:shared/labelNoneLNG cargo size, TBtu
/operating_model/cells/cargo_size:shared/periodNoneModel
/operating_model/cells/cargo_size:shared/unitNoneratio
/operating_model/cells/cargo_size:shared/valueNone3.75
/operating_model/cells/cash:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/cash:shared/caseNoneshared
/operating_model/cells/cash:shared/idNonecash
/operating_model/cells/cash:shared/kindNonereported
/operating_model/cells/cash:shared/labelNonecash
/operating_model/cells/cash:shared/periodNoneJune/September 2026
/operating_model/cells/cash:shared/source_dateNone2026-08-11
/operating_model/cells/cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/cash:shared/unitNoneUSD_millions
/operating_model/cells/cash:shared/valueNone3120.0
/operating_model/cells/common_shares:shared/basisNone531,488,393 Class A plus 1,968,604,458 Class B, in millions; not diluted EPS denominator.
/operating_model/cells/common_shares:shared/caseNoneshared
/operating_model/cells/common_shares:shared/idNonecommon_shares
/operating_model/cells/common_shares:shared/kindNonereported
/operating_model/cells/common_shares:shared/labelNoneJuly 31 Class A plus Class B shares
/operating_model/cells/common_shares:shared/periodNoneJuly 2026
/operating_model/cells/common_shares:shared/source_dateNone2026-08-11
/operating_model/cells/common_shares:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/common_shares:shared/unitNoneshares_millions
/operating_model/cells/common_shares:shared/valueNone2500.092851
/operating_model/cells/contracted_fee:shared/basisNone$5.05/MMBtu equals $5.05M for each TBtu sold; excludes feed-gas recovery. Company says 91% of annual cargos contracted.
/operating_model/cells/contracted_fee:shared/caseNoneshared
/operating_model/cells/contracted_fee:shared/idNonecontracted_fee
/operating_model/cells/contracted_fee:shared/kindNonereported
/operating_model/cells/contracted_fee:shared/labelNone2026 contracted fee revenue per TBtu sold
/operating_model/cells/contracted_fee:shared/periodNoneFY2026
/operating_model/cells/contracted_fee:shared/source_dateNone2026-08-11
/operating_model/cells/contracted_fee:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/contracted_fee:shared/unitNoneUSD_millions
/operating_model/cells/contracted_fee:shared/valueNone5.05
/operating_model/cells/contracted_volume:shared/basisNoneRemaining forecast recognized sales less fee-sensitive equivalent.
/operating_model/cells/contracted_volume:shared/caseNoneshared
/operating_model/cells/contracted_volume:shared/formula/opNonesubtract
/operating_model/cells/contracted_volume:shared/formula/refs/0Noneh2_volume
/operating_model/cells/contracted_volume:shared/formula/refs/1Noneunsold_volume
/operating_model/cells/contracted_volume:shared/idNonecontracted_volume
/operating_model/cells/contracted_volume:shared/kindNonederived
/operating_model/cells/contracted_volume:shared/labelNoneH2 contracted sales TBtu baseline
/operating_model/cells/contracted_volume:shared/periodNoneH2 2026
/operating_model/cells/contracted_volume:shared/unitNoneratio
/operating_model/cells/contracted_volume:shared/valueNone731.1
/operating_model/cells/cp_funding_preferred_remaining:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/cp_funding_preferred_remaining:shared/caseNoneshared
/operating_model/cells/cp_funding_preferred_remaining:shared/idNonecp_funding_preferred_remaining
/operating_model/cells/cp_funding_preferred_remaining:shared/kindNonereported
/operating_model/cells/cp_funding_preferred_remaining:shared/labelNonecp funding preferred remaining
/operating_model/cells/cp_funding_preferred_remaining:shared/periodNoneJune/September 2026
/operating_model/cells/cp_funding_preferred_remaining:shared/source_dateNone2026-08-11
/operating_model/cells/cp_funding_preferred_remaining:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/cp_funding_preferred_remaining:shared/unitNoneUSD_millions
/operating_model/cells/cp_funding_preferred_remaining:shared/valueNone0.0
/operating_model/cells/current_debt_carrying:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/current_debt_carrying:shared/caseNoneshared
/operating_model/cells/current_debt_carrying:shared/idNonecurrent_debt_carrying
/operating_model/cells/current_debt_carrying:shared/kindNonereported
/operating_model/cells/current_debt_carrying:shared/labelNonecurrent debt carrying
/operating_model/cells/current_debt_carrying:shared/periodNoneJune/September 2026
/operating_model/cells/current_debt_carrying:shared/source_dateNone2026-08-11
/operating_model/cells/current_debt_carrying:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/current_debt_carrying:shared/unitNoneUSD_millions
/operating_model/cells/current_debt_carrying:shared/valueNone287.0
/operating_model/cells/debt_face:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/debt_face:shared/caseNoneshared
/operating_model/cells/debt_face:shared/idNonedebt_face
/operating_model/cells/debt_face:shared/kindNonereported
/operating_model/cells/debt_face:shared/labelNonedebt face
/operating_model/cells/debt_face:shared/periodNoneJune/September 2026
/operating_model/cells/debt_face:shared/source_dateNone2026-08-11
/operating_model/cells/debt_face:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/debt_face:shared/unitNoneUSD_millions
/operating_model/cells/debt_face:shared/valueNone42386.0
/operating_model/cells/declared_common_cash:shared/basisNoneDesk aggregate from July 31 A+B shares times declared $0.04; assumes unchanged shares through September record date.
/operating_model/cells/declared_common_cash:shared/caseNoneshared
/operating_model/cells/declared_common_cash:shared/idNonedeclared_common_cash
/operating_model/cells/declared_common_cash:shared/kindNoneassumption
/operating_model/cells/declared_common_cash:shared/labelNoneSeptember aggregate common dividend estimate
/operating_model/cells/declared_common_cash:shared/periodNone2026Q3
/operating_model/cells/declared_common_cash:shared/source_dateNone2026-08-11
/operating_model/cells/declared_common_cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/declared_common_cash:shared/unitNoneUSD_millions
/operating_model/cells/declared_common_cash:shared/valueNone100.00371403999999
/operating_model/cells/declared_common_dps:shared/basisNoneDeclared dividend payable September 30; later dividends need future declarations.
/operating_model/cells/declared_common_dps:shared/caseNoneshared
/operating_model/cells/declared_common_dps:shared/idNonedeclared_common_dps
/operating_model/cells/declared_common_dps:shared/kindNonereported
/operating_model/cells/declared_common_dps:shared/labelNoneSeptember common dividend per A/B share
/operating_model/cells/declared_common_dps:shared/periodNone2026Q3
/operating_model/cells/declared_common_dps:shared/source_dateNone2026-08-11
/operating_model/cells/declared_common_dps:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/declared_common_dps:shared/unitNoneUSD_per_share
/operating_model/cells/declared_common_dps:shared/valueNone0.04
/operating_model/cells/downside_2026q3_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2026q3_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2026q3_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_adj_ebitda:downside/formula/refs/0Nonedownside_2026q3_fee_revenue
/operating_model/cells/downside_2026q3_adj_ebitda:downside/formula/refs/1Nonedownside_2026q3_cash_costs
/operating_model/cells/downside_2026q3_adj_ebitda:downside/idNonedownside_2026q3_adj_ebitda
/operating_model/cells/downside_2026q3_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2026q3_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2026q3_adj_ebitda:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_adj_ebitda:downside/valueNone2118.070875
/operating_model/cells/downside_2026q3_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2026q3_capex:downside/caseNonedownside
/operating_model/cells/downside_2026q3_capex:downside/idNonedownside_2026q3_capex
/operating_model/cells/downside_2026q3_capex:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2026q3_capex:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_capex:downside/valueNone4000.0
/operating_model/cells/downside_2026q3_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2026q3_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_cash_after_claims:downside/formula/refs/0Nonedownside_2026q3_fcf
/operating_model/cells/downside_2026q3_cash_after_claims:downside/formula/refs/1Nonedownside_2026q3_claims
/operating_model/cells/downside_2026q3_cash_after_claims:downside/idNonedownside_2026q3_cash_after_claims
/operating_model/cells/downside_2026q3_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2026q3_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2026q3_cash_after_claims:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_after_claims:downside/valueNone-3086.93283904
/operating_model/cells/downside_2026q3_cash_costs:downside/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/downside_2026q3_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_cash_costs:downside/formula/refs/0Noneh2_residual_cost
/operating_model/cells/downside_2026q3_cash_costs:downside/formula/refs/1Nonedownside_2026q3_half
/operating_model/cells/downside_2026q3_cash_costs:downside/formula/refs/2Nonedownside_2026q3_cost_factor
/operating_model/cells/downside_2026q3_cash_costs:downside/idNonedownside_2026q3_cash_costs
/operating_model/cells/downside_2026q3_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2026q3_cash_costs:downside/labelNoneResidual operating costs net of other contribution
/operating_model/cells/downside_2026q3_cash_costs:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_costs:downside/valueNone654.5302500000003
/operating_model/cells/downside_2026q3_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2026q3_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_interest:downside/idNonedownside_2026q3_cash_interest
/operating_model/cells/downside_2026q3_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2026q3_cash_interest:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_interest:downside/valueNone450.0
/operating_model/cells/downside_2026q3_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_tax:downside/idNonedownside_2026q3_cash_tax
/operating_model/cells/downside_2026q3_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2026q3_cash_tax:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_tax:downside/valueNone100.0
/operating_model/cells/downside_2026q3_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2026q3_cfo:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_cfo:downside/formula/refs/0Nonedownside_2026q3_adj_ebitda
/operating_model/cells/downside_2026q3_cfo:downside/formula/refs/1Nonedownside_2026q3_cfo_uses
/operating_model/cells/downside_2026q3_cfo:downside/idNonedownside_2026q3_cfo
/operating_model/cells/downside_2026q3_cfo:downside/kindNonederived
/operating_model/cells/downside_2026q3_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2026q3_cfo:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cfo:downside/valueNone1268.070875
/operating_model/cells/downside_2026q3_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2026q3_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_cfo_uses:downside/formula/refs/0Nonedownside_2026q3_cash_interest
/operating_model/cells/downside_2026q3_cfo_uses:downside/formula/refs/1Nonedownside_2026q3_cash_tax
/operating_model/cells/downside_2026q3_cfo_uses:downside/formula/refs/2Nonedownside_2026q3_wc_use
/operating_model/cells/downside_2026q3_cfo_uses:downside/formula/refs/3Nonedownside_2026q3_legal_cash_stress
/operating_model/cells/downside_2026q3_cfo_uses:downside/idNonedownside_2026q3_cfo_uses
/operating_model/cells/downside_2026q3_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2026q3_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2026q3_cfo_uses:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cfo_uses:downside/valueNone850.0
/operating_model/cells/downside_2026q3_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2026q3_claims:downside/caseNonedownside
/operating_model/cells/downside_2026q3_claims:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_claims:downside/formula/refs/0Nonedownside_2026q3_subsidiary_distributions
/operating_model/cells/downside_2026q3_claims:downside/formula/refs/1Nonedownside_2026q3_common_dividends
/operating_model/cells/downside_2026q3_claims:downside/formula/refs/2Nonedownside_2026q3_preferred_redemption
/operating_model/cells/downside_2026q3_claims:downside/formula/refs/3Nonedownside_2026q3_debt_principal
/operating_model/cells/downside_2026q3_claims:downside/idNonedownside_2026q3_claims
/operating_model/cells/downside_2026q3_claims:downside/kindNonederived
/operating_model/cells/downside_2026q3_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2026q3_claims:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_claims:downside/valueNone355.00371404
/operating_model/cells/downside_2026q3_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2026q3_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2026q3_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2026q3_common_dividends:downside/formula/refs/1Nonedownside_2026q3_dividend_share_factor
/operating_model/cells/downside_2026q3_common_dividends:downside/formula/refs/2Nonedownside_2026q3_dividend_factor
/operating_model/cells/downside_2026q3_common_dividends:downside/idNonedownside_2026q3_common_dividends
/operating_model/cells/downside_2026q3_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2026q3_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2026q3_common_dividends:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_common_dividends:downside/valueNone100.00371403999999
/operating_model/cells/downside_2026q3_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cost_factor:downside/idNonedownside_2026q3_cost_factor
/operating_model/cells/downside_2026q3_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cost_factor:downside/labelNoneCost delivery stress
/operating_model/cells/downside_2026q3_cost_factor:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q3_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2026q3_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_da:downside/caseNonedownside
/operating_model/cells/downside_2026q3_da:downside/idNonedownside_2026q3_da
/operating_model/cells/downside_2026q3_da:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2026q3_da:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_da:downside/valueNone275.0
/operating_model/cells/downside_2026q3_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2026q3_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2026q3_debt_principal:downside/idNonedownside_2026q3_debt_principal
/operating_model/cells/downside_2026q3_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2026q3_debt_principal:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_debt_principal:downside/valueNone80.0
/operating_model/cells/downside_2026q3_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2026q3_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q3_dividend_factor:downside/idNonedownside_2026q3_dividend_factor
/operating_model/cells/downside_2026q3_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2026q3_dividend_factor:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q3_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/formula/refs/0Nonedownside_2026q3_shares
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/idNonedownside_2026q3_dividend_share_factor
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q3_dividend_share_factor:downside/valueNone1.0
/operating_model/cells/downside_2026q3_execution:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_execution:downside/caseNonedownside
/operating_model/cells/downside_2026q3_execution:downside/idNonedownside_2026q3_execution
/operating_model/cells/downside_2026q3_execution:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_execution:downside/labelNoneRecognized volume delivery
/operating_model/cells/downside_2026q3_execution:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_execution:downside/unitNoneratio
/operating_model/cells/downside_2026q3_execution:downside/valueNone0.95
/operating_model/cells/downside_2026q3_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2026q3_fcf:downside/caseNonedownside
/operating_model/cells/downside_2026q3_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_fcf:downside/formula/refs/0Nonedownside_2026q3_cfo
/operating_model/cells/downside_2026q3_fcf:downside/formula/refs/1Nonedownside_2026q3_capex
/operating_model/cells/downside_2026q3_fcf:downside/idNonedownside_2026q3_fcf
/operating_model/cells/downside_2026q3_fcf:downside/kindNonederived
/operating_model/cells/downside_2026q3_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2026q3_fcf:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_fcf:downside/valueNone-2731.929125
/operating_model/cells/downside_2026q3_fee_revenue:downside/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/downside_2026q3_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_fee_revenue:downside/formula/refs/0Nonedownside_2026q3_fixed_fees
/operating_model/cells/downside_2026q3_fee_revenue:downside/formula/refs/1Nonedownside_2026q3_merchant_fees
/operating_model/cells/downside_2026q3_fee_revenue:downside/idNonedownside_2026q3_fee_revenue
/operating_model/cells/downside_2026q3_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q3_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2026q3_fee_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_fee_revenue:downside/valueNone2772.601125
/operating_model/cells/downside_2026q3_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2026q3_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2026q3_feed_gas:downside/idNonedownside_2026q3_feed_gas
/operating_model/cells/downside_2026q3_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2026q3_feed_gas:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_feed_gas:downside/valueNone4.0
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/formula/refs/0Nonedownside_2026q3_volume
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/formula/refs/1Nonedownside_2026q3_feed_gas
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/idNonedownside_2026q3_feed_gas_recovery
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_feed_gas_recovery:downside/valueNone1759.59
/operating_model/cells/downside_2026q3_fixed_fees:downside/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/downside_2026q3_fixed_fees:downside/caseNonedownside
/operating_model/cells/downside_2026q3_fixed_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_fixed_fees:downside/formula/refs/0Nonedownside_2026q3_fixed_volume
/operating_model/cells/downside_2026q3_fixed_fees:downside/formula/refs/1Nonecontracted_fee
/operating_model/cells/downside_2026q3_fixed_fees:downside/idNonedownside_2026q3_fixed_fees
/operating_model/cells/downside_2026q3_fixed_fees:downside/kindNonederived
/operating_model/cells/downside_2026q3_fixed_fees:downside/labelNoneContracted fee revenue
/operating_model/cells/downside_2026q3_fixed_fees:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_fixed_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_fixed_fees:downside/valueNone1753.726125
/operating_model/cells/downside_2026q3_fixed_volume:downside/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/downside_2026q3_fixed_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q3_fixed_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_fixed_volume:downside/formula/refs/0Nonecontracted_volume
/operating_model/cells/downside_2026q3_fixed_volume:downside/formula/refs/1Nonedownside_2026q3_half
/operating_model/cells/downside_2026q3_fixed_volume:downside/formula/refs/2Nonedownside_2026q3_execution
/operating_model/cells/downside_2026q3_fixed_volume:downside/idNonedownside_2026q3_fixed_volume
/operating_model/cells/downside_2026q3_fixed_volume:downside/kindNonederived
/operating_model/cells/downside_2026q3_fixed_volume:downside/labelNoneContracted fee volume TBtu
/operating_model/cells/downside_2026q3_fixed_volume:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_fixed_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q3_fixed_volume:downside/valueNone347.2725
/operating_model/cells/downside_2026q3_half:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_half:downside/caseNonedownside
/operating_model/cells/downside_2026q3_half:downside/idNonedownside_2026q3_half
/operating_model/cells/downside_2026q3_half:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_half:downside/labelNoneH2 quarterly allocation
/operating_model/cells/downside_2026q3_half:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_half:downside/unitNoneratio
/operating_model/cells/downside_2026q3_half:downside/valueNone0.5
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/idNonedownside_2026q3_legal_cash_stress
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_legal_cash_stress:downside/valueNone0.0
/operating_model/cells/downside_2026q3_merchant_fee:downside/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/downside_2026q3_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2026q3_merchant_fee:downside/idNonedownside_2026q3_merchant_fee
/operating_model/cells/downside_2026q3_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_merchant_fee:downside/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/downside_2026q3_merchant_fee:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_merchant_fee:downside/valueNone11.0
/operating_model/cells/downside_2026q3_merchant_fees:downside/basisNoneUnsold price scenario.
/operating_model/cells/downside_2026q3_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2026q3_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_merchant_fees:downside/formula/refs/0Nonedownside_2026q3_merchant_volume
/operating_model/cells/downside_2026q3_merchant_fees:downside/formula/refs/1Nonedownside_2026q3_merchant_fee
/operating_model/cells/downside_2026q3_merchant_fees:downside/idNonedownside_2026q3_merchant_fees
/operating_model/cells/downside_2026q3_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2026q3_merchant_fees:downside/labelNoneUnsold fee revenue
/operating_model/cells/downside_2026q3_merchant_fees:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_merchant_fees:downside/valueNone1018.875
/operating_model/cells/downside_2026q3_merchant_volume:downside/basisNoneEquivalent volume sensitivity.
/operating_model/cells/downside_2026q3_merchant_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q3_merchant_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_merchant_volume:downside/formula/refs/0Noneunsold_volume
/operating_model/cells/downside_2026q3_merchant_volume:downside/formula/refs/1Nonedownside_2026q3_half
/operating_model/cells/downside_2026q3_merchant_volume:downside/formula/refs/2Nonedownside_2026q3_execution
/operating_model/cells/downside_2026q3_merchant_volume:downside/idNonedownside_2026q3_merchant_volume
/operating_model/cells/downside_2026q3_merchant_volume:downside/kindNonederived
/operating_model/cells/downside_2026q3_merchant_volume:downside/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/downside_2026q3_merchant_volume:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_merchant_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q3_merchant_volume:downside/valueNone92.625
/operating_model/cells/downside_2026q3_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q3_nci_cash:downside/idNonedownside_2026q3_nci_cash
/operating_model/cells/downside_2026q3_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2026q3_nci_cash:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_nci_cash:downside/valueNone40.0
/operating_model/cells/downside_2026q3_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2026q3_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2026q3_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_noncash_deductions:downside/formula/refs/0Nonedownside_2026q3_da
/operating_model/cells/downside_2026q3_noncash_deductions:downside/formula/refs/1Nonedownside_2026q3_sbc
/operating_model/cells/downside_2026q3_noncash_deductions:downside/formula/refs/2Nonedownside_2026q3_other_adjustments
/operating_model/cells/downside_2026q3_noncash_deductions:downside/idNonedownside_2026q3_noncash_deductions
/operating_model/cells/downside_2026q3_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2026q3_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2026q3_noncash_deductions:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_noncash_deductions:downside/valueNone290.0
/operating_model/cells/downside_2026q3_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2026q3_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2026q3_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/0Nonedownside_2026q3_adj_ebitda
/operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/1Nonedownside_2026q3_noncash_deductions
/operating_model/cells/downside_2026q3_operating_income:downside/idNonedownside_2026q3_operating_income
/operating_model/cells/downside_2026q3_operating_income:downside/kindNonederived
/operating_model/cells/downside_2026q3_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2026q3_operating_income:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_operating_income:downside/valueNone1828.070875
/operating_model/cells/downside_2026q3_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2026q3_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2026q3_other_adjustments:downside/idNonedownside_2026q3_other_adjustments
/operating_model/cells/downside_2026q3_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2026q3_other_adjustments:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_other_adjustments:downside/valueNone0.0
/operating_model/cells/downside_2026q3_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2026q3_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2026q3_preferred_redemption:downside/idNonedownside_2026q3_preferred_redemption
/operating_model/cells/downside_2026q3_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2026q3_preferred_redemption:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2026q3_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2026q3_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_revenue:downside/formula/refs/0Nonedownside_2026q3_fee_revenue
/operating_model/cells/downside_2026q3_revenue:downside/formula/refs/1Nonedownside_2026q3_feed_gas_recovery
/operating_model/cells/downside_2026q3_revenue:downside/idNonedownside_2026q3_revenue
/operating_model/cells/downside_2026q3_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q3_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2026q3_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_revenue:downside/valueNone4532.191125
/operating_model/cells/downside_2026q3_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_sbc:downside/caseNonedownside
/operating_model/cells/downside_2026q3_sbc:downside/idNonedownside_2026q3_sbc
/operating_model/cells/downside_2026q3_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2026q3_sbc:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_sbc:downside/valueNone15.0
/operating_model/cells/downside_2026q3_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2026q3_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q3_series_a_cash:downside/idNonedownside_2026q3_series_a_cash
/operating_model/cells/downside_2026q3_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2026q3_series_a_cash:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_series_a_cash:downside/valueNone135.0
/operating_model/cells/downside_2026q3_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2026q3_share_growth:downside/idNonedownside_2026q3_share_growth
/operating_model/cells/downside_2026q3_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2026q3_share_growth:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2026q3_share_growth:downside/valueNone0.0
/operating_model/cells/downside_2026q3_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2026q3_shares:downside/caseNonedownside
/operating_model/cells/downside_2026q3_shares:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2026q3_shares:downside/formula/refs/1Nonedownside_2026q3_share_growth
/operating_model/cells/downside_2026q3_shares:downside/idNonedownside_2026q3_shares
/operating_model/cells/downside_2026q3_shares:downside/kindNonederived
/operating_model/cells/downside_2026q3_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2026q3_shares:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2026q3_shares:downside/valueNone2500.092851
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/formula/refs/0Nonedownside_2026q3_series_a_cash
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/formula/refs/1Nonedownside_2026q3_nci_cash
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/idNonedownside_2026q3_subsidiary_distributions
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_subsidiary_distributions:downside/valueNone175.0
/operating_model/cells/downside_2026q3_volume:downside/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/downside_2026q3_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q3_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_volume:downside/formula/refs/0Noneh2_volume
/operating_model/cells/downside_2026q3_volume:downside/formula/refs/1Nonedownside_2026q3_half
/operating_model/cells/downside_2026q3_volume:downside/formula/refs/2Nonedownside_2026q3_execution
/operating_model/cells/downside_2026q3_volume:downside/idNonedownside_2026q3_volume
/operating_model/cells/downside_2026q3_volume:downside/kindNonederived
/operating_model/cells/downside_2026q3_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2026q3_volume:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q3_volume:downside/valueNone439.8975
/operating_model/cells/downside_2026q3_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2026q3_wc_use:downside/idNonedownside_2026q3_wc_use
/operating_model/cells/downside_2026q3_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2026q3_wc_use:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_wc_use:downside/valueNone300.0
/operating_model/cells/downside_2026q4_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2026q4_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2026q4_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_adj_ebitda:downside/formula/refs/0Nonedownside_2026q4_fee_revenue
/operating_model/cells/downside_2026q4_adj_ebitda:downside/formula/refs/1Nonedownside_2026q4_cash_costs
/operating_model/cells/downside_2026q4_adj_ebitda:downside/idNonedownside_2026q4_adj_ebitda
/operating_model/cells/downside_2026q4_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2026q4_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2026q4_adj_ebitda:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_adj_ebitda:downside/valueNone2118.070875
/operating_model/cells/downside_2026q4_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2026q4_capex:downside/caseNonedownside
/operating_model/cells/downside_2026q4_capex:downside/idNonedownside_2026q4_capex
/operating_model/cells/downside_2026q4_capex:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2026q4_capex:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_capex:downside/valueNone4200.0
/operating_model/cells/downside_2026q4_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2026q4_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_cash_after_claims:downside/formula/refs/0Nonedownside_2026q4_fcf
/operating_model/cells/downside_2026q4_cash_after_claims:downside/formula/refs/1Nonedownside_2026q4_claims
/operating_model/cells/downside_2026q4_cash_after_claims:downside/idNonedownside_2026q4_cash_after_claims
/operating_model/cells/downside_2026q4_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2026q4_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2026q4_cash_after_claims:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_after_claims:downside/valueNone-3077.05283904
/operating_model/cells/downside_2026q4_cash_costs:downside/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/downside_2026q4_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_cash_costs:downside/formula/refs/0Noneh2_residual_cost
/operating_model/cells/downside_2026q4_cash_costs:downside/formula/refs/1Nonedownside_2026q4_half
/operating_model/cells/downside_2026q4_cash_costs:downside/formula/refs/2Nonedownside_2026q4_cost_factor
/operating_model/cells/downside_2026q4_cash_costs:downside/idNonedownside_2026q4_cash_costs
/operating_model/cells/downside_2026q4_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2026q4_cash_costs:downside/labelNoneResidual operating costs net of other contribution
/operating_model/cells/downside_2026q4_cash_costs:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_costs:downside/valueNone654.5302500000003
/operating_model/cells/downside_2026q4_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2026q4_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_interest:downside/idNonedownside_2026q4_cash_interest
/operating_model/cells/downside_2026q4_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2026q4_cash_interest:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_interest:downside/valueNone475.0
/operating_model/cells/downside_2026q4_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_tax:downside/idNonedownside_2026q4_cash_tax
/operating_model/cells/downside_2026q4_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2026q4_cash_tax:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_tax:downside/valueNone100.0
/operating_model/cells/downside_2026q4_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2026q4_cfo:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_cfo:downside/formula/refs/0Nonedownside_2026q4_adj_ebitda
/operating_model/cells/downside_2026q4_cfo:downside/formula/refs/1Nonedownside_2026q4_cfo_uses
/operating_model/cells/downside_2026q4_cfo:downside/idNonedownside_2026q4_cfo
/operating_model/cells/downside_2026q4_cfo:downside/kindNonederived
/operating_model/cells/downside_2026q4_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2026q4_cfo:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cfo:downside/valueNone1343.070875
/operating_model/cells/downside_2026q4_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2026q4_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_cfo_uses:downside/formula/refs/0Nonedownside_2026q4_cash_interest
/operating_model/cells/downside_2026q4_cfo_uses:downside/formula/refs/1Nonedownside_2026q4_cash_tax
/operating_model/cells/downside_2026q4_cfo_uses:downside/formula/refs/2Nonedownside_2026q4_wc_use
/operating_model/cells/downside_2026q4_cfo_uses:downside/formula/refs/3Nonedownside_2026q4_legal_cash_stress
/operating_model/cells/downside_2026q4_cfo_uses:downside/idNonedownside_2026q4_cfo_uses
/operating_model/cells/downside_2026q4_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2026q4_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2026q4_cfo_uses:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cfo_uses:downside/valueNone775.0
/operating_model/cells/downside_2026q4_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2026q4_claims:downside/caseNonedownside
/operating_model/cells/downside_2026q4_claims:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_claims:downside/formula/refs/0Nonedownside_2026q4_subsidiary_distributions
/operating_model/cells/downside_2026q4_claims:downside/formula/refs/1Nonedownside_2026q4_common_dividends
/operating_model/cells/downside_2026q4_claims:downside/formula/refs/2Nonedownside_2026q4_preferred_redemption
/operating_model/cells/downside_2026q4_claims:downside/formula/refs/3Nonedownside_2026q4_debt_principal
/operating_model/cells/downside_2026q4_claims:downside/idNonedownside_2026q4_claims
/operating_model/cells/downside_2026q4_claims:downside/kindNonederived
/operating_model/cells/downside_2026q4_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2026q4_claims:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_claims:downside/valueNone220.12371403999998
/operating_model/cells/downside_2026q4_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2026q4_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2026q4_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2026q4_common_dividends:downside/formula/refs/1Nonedownside_2026q4_dividend_share_factor
/operating_model/cells/downside_2026q4_common_dividends:downside/formula/refs/2Nonedownside_2026q4_dividend_factor
/operating_model/cells/downside_2026q4_common_dividends:downside/idNonedownside_2026q4_common_dividends
/operating_model/cells/downside_2026q4_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2026q4_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2026q4_common_dividends:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_common_dividends:downside/valueNone100.12371403999998
/operating_model/cells/downside_2026q4_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cost_factor:downside/idNonedownside_2026q4_cost_factor
/operating_model/cells/downside_2026q4_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cost_factor:downside/labelNoneCost delivery stress
/operating_model/cells/downside_2026q4_cost_factor:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q4_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2026q4_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_da:downside/caseNonedownside
/operating_model/cells/downside_2026q4_da:downside/idNonedownside_2026q4_da
/operating_model/cells/downside_2026q4_da:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2026q4_da:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_da:downside/valueNone295.0
/operating_model/cells/downside_2026q4_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2026q4_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2026q4_debt_principal:downside/idNonedownside_2026q4_debt_principal
/operating_model/cells/downside_2026q4_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2026q4_debt_principal:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_debt_principal:downside/valueNone80.0
/operating_model/cells/downside_2026q4_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2026q4_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q4_dividend_factor:downside/idNonedownside_2026q4_dividend_factor
/operating_model/cells/downside_2026q4_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2026q4_dividend_factor:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q4_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/formula/refs/0Nonedownside_2026q4_shares
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/idNonedownside_2026q4_dividend_share_factor
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2026q4_dividend_share_factor:downside/valueNone1.0011999554331752
/operating_model/cells/downside_2026q4_execution:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_execution:downside/caseNonedownside
/operating_model/cells/downside_2026q4_execution:downside/idNonedownside_2026q4_execution
/operating_model/cells/downside_2026q4_execution:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_execution:downside/labelNoneRecognized volume delivery
/operating_model/cells/downside_2026q4_execution:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_execution:downside/unitNoneratio
/operating_model/cells/downside_2026q4_execution:downside/valueNone0.95
/operating_model/cells/downside_2026q4_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2026q4_fcf:downside/caseNonedownside
/operating_model/cells/downside_2026q4_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_fcf:downside/formula/refs/0Nonedownside_2026q4_cfo
/operating_model/cells/downside_2026q4_fcf:downside/formula/refs/1Nonedownside_2026q4_capex
/operating_model/cells/downside_2026q4_fcf:downside/idNonedownside_2026q4_fcf
/operating_model/cells/downside_2026q4_fcf:downside/kindNonederived
/operating_model/cells/downside_2026q4_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2026q4_fcf:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_fcf:downside/valueNone-2856.929125
/operating_model/cells/downside_2026q4_fee_revenue:downside/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/downside_2026q4_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_fee_revenue:downside/formula/refs/0Nonedownside_2026q4_fixed_fees
/operating_model/cells/downside_2026q4_fee_revenue:downside/formula/refs/1Nonedownside_2026q4_merchant_fees
/operating_model/cells/downside_2026q4_fee_revenue:downside/idNonedownside_2026q4_fee_revenue
/operating_model/cells/downside_2026q4_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q4_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2026q4_fee_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_fee_revenue:downside/valueNone2772.601125
/operating_model/cells/downside_2026q4_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2026q4_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2026q4_feed_gas:downside/idNonedownside_2026q4_feed_gas
/operating_model/cells/downside_2026q4_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2026q4_feed_gas:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_feed_gas:downside/valueNone4.0
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/formula/refs/0Nonedownside_2026q4_volume
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/formula/refs/1Nonedownside_2026q4_feed_gas
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/idNonedownside_2026q4_feed_gas_recovery
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_feed_gas_recovery:downside/valueNone1759.59
/operating_model/cells/downside_2026q4_fixed_fees:downside/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/downside_2026q4_fixed_fees:downside/caseNonedownside
/operating_model/cells/downside_2026q4_fixed_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_fixed_fees:downside/formula/refs/0Nonedownside_2026q4_fixed_volume
/operating_model/cells/downside_2026q4_fixed_fees:downside/formula/refs/1Nonecontracted_fee
/operating_model/cells/downside_2026q4_fixed_fees:downside/idNonedownside_2026q4_fixed_fees
/operating_model/cells/downside_2026q4_fixed_fees:downside/kindNonederived
/operating_model/cells/downside_2026q4_fixed_fees:downside/labelNoneContracted fee revenue
/operating_model/cells/downside_2026q4_fixed_fees:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_fixed_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_fixed_fees:downside/valueNone1753.726125
/operating_model/cells/downside_2026q4_fixed_volume:downside/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/downside_2026q4_fixed_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q4_fixed_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_fixed_volume:downside/formula/refs/0Nonecontracted_volume
/operating_model/cells/downside_2026q4_fixed_volume:downside/formula/refs/1Nonedownside_2026q4_half
/operating_model/cells/downside_2026q4_fixed_volume:downside/formula/refs/2Nonedownside_2026q4_execution
/operating_model/cells/downside_2026q4_fixed_volume:downside/idNonedownside_2026q4_fixed_volume
/operating_model/cells/downside_2026q4_fixed_volume:downside/kindNonederived
/operating_model/cells/downside_2026q4_fixed_volume:downside/labelNoneContracted fee volume TBtu
/operating_model/cells/downside_2026q4_fixed_volume:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_fixed_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q4_fixed_volume:downside/valueNone347.2725
/operating_model/cells/downside_2026q4_half:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_half:downside/caseNonedownside
/operating_model/cells/downside_2026q4_half:downside/idNonedownside_2026q4_half
/operating_model/cells/downside_2026q4_half:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_half:downside/labelNoneH2 quarterly allocation
/operating_model/cells/downside_2026q4_half:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_half:downside/unitNoneratio
/operating_model/cells/downside_2026q4_half:downside/valueNone0.5
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/idNonedownside_2026q4_legal_cash_stress
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_legal_cash_stress:downside/valueNone0.0
/operating_model/cells/downside_2026q4_merchant_fee:downside/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/downside_2026q4_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2026q4_merchant_fee:downside/idNonedownside_2026q4_merchant_fee
/operating_model/cells/downside_2026q4_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_merchant_fee:downside/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/downside_2026q4_merchant_fee:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_merchant_fee:downside/valueNone11.0
/operating_model/cells/downside_2026q4_merchant_fees:downside/basisNoneUnsold price scenario.
/operating_model/cells/downside_2026q4_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2026q4_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_merchant_fees:downside/formula/refs/0Nonedownside_2026q4_merchant_volume
/operating_model/cells/downside_2026q4_merchant_fees:downside/formula/refs/1Nonedownside_2026q4_merchant_fee
/operating_model/cells/downside_2026q4_merchant_fees:downside/idNonedownside_2026q4_merchant_fees
/operating_model/cells/downside_2026q4_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2026q4_merchant_fees:downside/labelNoneUnsold fee revenue
/operating_model/cells/downside_2026q4_merchant_fees:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_merchant_fees:downside/valueNone1018.875
/operating_model/cells/downside_2026q4_merchant_volume:downside/basisNoneEquivalent volume sensitivity.
/operating_model/cells/downside_2026q4_merchant_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q4_merchant_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_merchant_volume:downside/formula/refs/0Noneunsold_volume
/operating_model/cells/downside_2026q4_merchant_volume:downside/formula/refs/1Nonedownside_2026q4_half
/operating_model/cells/downside_2026q4_merchant_volume:downside/formula/refs/2Nonedownside_2026q4_execution
/operating_model/cells/downside_2026q4_merchant_volume:downside/idNonedownside_2026q4_merchant_volume
/operating_model/cells/downside_2026q4_merchant_volume:downside/kindNonederived
/operating_model/cells/downside_2026q4_merchant_volume:downside/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/downside_2026q4_merchant_volume:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_merchant_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q4_merchant_volume:downside/valueNone92.625
/operating_model/cells/downside_2026q4_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q4_nci_cash:downside/idNonedownside_2026q4_nci_cash
/operating_model/cells/downside_2026q4_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2026q4_nci_cash:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_nci_cash:downside/valueNone40.0
/operating_model/cells/downside_2026q4_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2026q4_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2026q4_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_noncash_deductions:downside/formula/refs/0Nonedownside_2026q4_da
/operating_model/cells/downside_2026q4_noncash_deductions:downside/formula/refs/1Nonedownside_2026q4_sbc
/operating_model/cells/downside_2026q4_noncash_deductions:downside/formula/refs/2Nonedownside_2026q4_other_adjustments
/operating_model/cells/downside_2026q4_noncash_deductions:downside/idNonedownside_2026q4_noncash_deductions
/operating_model/cells/downside_2026q4_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2026q4_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2026q4_noncash_deductions:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_noncash_deductions:downside/valueNone312.0
/operating_model/cells/downside_2026q4_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2026q4_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2026q4_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/0Nonedownside_2026q4_adj_ebitda
/operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/1Nonedownside_2026q4_noncash_deductions
/operating_model/cells/downside_2026q4_operating_income:downside/idNonedownside_2026q4_operating_income
/operating_model/cells/downside_2026q4_operating_income:downside/kindNonederived
/operating_model/cells/downside_2026q4_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2026q4_operating_income:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_operating_income:downside/valueNone1806.070875
/operating_model/cells/downside_2026q4_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2026q4_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2026q4_other_adjustments:downside/idNonedownside_2026q4_other_adjustments
/operating_model/cells/downside_2026q4_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2026q4_other_adjustments:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_other_adjustments:downside/valueNone0.0
/operating_model/cells/downside_2026q4_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2026q4_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2026q4_preferred_redemption:downside/idNonedownside_2026q4_preferred_redemption
/operating_model/cells/downside_2026q4_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2026q4_preferred_redemption:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2026q4_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2026q4_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_revenue:downside/formula/refs/0Nonedownside_2026q4_fee_revenue
/operating_model/cells/downside_2026q4_revenue:downside/formula/refs/1Nonedownside_2026q4_feed_gas_recovery
/operating_model/cells/downside_2026q4_revenue:downside/idNonedownside_2026q4_revenue
/operating_model/cells/downside_2026q4_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q4_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2026q4_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_revenue:downside/valueNone4532.191125
/operating_model/cells/downside_2026q4_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_sbc:downside/caseNonedownside
/operating_model/cells/downside_2026q4_sbc:downside/idNonedownside_2026q4_sbc
/operating_model/cells/downside_2026q4_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2026q4_sbc:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_sbc:downside/valueNone17.0
/operating_model/cells/downside_2026q4_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2026q4_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q4_series_a_cash:downside/idNonedownside_2026q4_series_a_cash
/operating_model/cells/downside_2026q4_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2026q4_series_a_cash:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_series_a_cash:downside/valueNone0.0
/operating_model/cells/downside_2026q4_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2026q4_share_growth:downside/idNonedownside_2026q4_share_growth
/operating_model/cells/downside_2026q4_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2026q4_share_growth:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2026q4_share_growth:downside/valueNone3.0
/operating_model/cells/downside_2026q4_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2026q4_shares:downside/caseNonedownside
/operating_model/cells/downside_2026q4_shares:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2026q4_shares:downside/formula/refs/1Nonedownside_2026q4_share_growth
/operating_model/cells/downside_2026q4_shares:downside/idNonedownside_2026q4_shares
/operating_model/cells/downside_2026q4_shares:downside/kindNonederived
/operating_model/cells/downside_2026q4_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2026q4_shares:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2026q4_shares:downside/valueNone2503.092851
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/formula/refs/0Nonedownside_2026q4_series_a_cash
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/formula/refs/1Nonedownside_2026q4_nci_cash
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/idNonedownside_2026q4_subsidiary_distributions
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_subsidiary_distributions:downside/valueNone40.0
/operating_model/cells/downside_2026q4_volume:downside/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/downside_2026q4_volume:downside/caseNonedownside
/operating_model/cells/downside_2026q4_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_volume:downside/formula/refs/0Noneh2_volume
/operating_model/cells/downside_2026q4_volume:downside/formula/refs/1Nonedownside_2026q4_half
/operating_model/cells/downside_2026q4_volume:downside/formula/refs/2Nonedownside_2026q4_execution
/operating_model/cells/downside_2026q4_volume:downside/idNonedownside_2026q4_volume
/operating_model/cells/downside_2026q4_volume:downside/kindNonederived
/operating_model/cells/downside_2026q4_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2026q4_volume:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_volume:downside/unitNoneratio
/operating_model/cells/downside_2026q4_volume:downside/valueNone439.8975
/operating_model/cells/downside_2026q4_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2026q4_wc_use:downside/idNonedownside_2026q4_wc_use
/operating_model/cells/downside_2026q4_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2026q4_wc_use:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_wc_use:downside/valueNone200.0
/operating_model/cells/downside_2027q1_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2027q1_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2027q1_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_adj_ebitda:downside/formula/refs/0Nonedownside_2027q1_fee_revenue
/operating_model/cells/downside_2027q1_adj_ebitda:downside/formula/refs/1Nonedownside_2027q1_cash_costs
/operating_model/cells/downside_2027q1_adj_ebitda:downside/idNonedownside_2027q1_adj_ebitda
/operating_model/cells/downside_2027q1_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2027q1_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2027q1_adj_ebitda:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_adj_ebitda:downside/valueNone994.1506249999996
/operating_model/cells/downside_2027q1_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2027q1_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q1_capex:downside/idNonedownside_2027q1_capex
/operating_model/cells/downside_2027q1_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2027q1_capex:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_capex:downside/valueNone4000.0
/operating_model/cells/downside_2027q1_cargo_baseline:downside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/downside_2027q1_cargo_baseline:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cargo_baseline:downside/idNonedownside_2027q1_cargo_baseline
/operating_model/cells/downside_2027q1_cargo_baseline:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cargo_baseline:downside/labelNoneStandalone project export-cargo plan
/operating_model/cells/downside_2027q1_cargo_baseline:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cargo_baseline:downside/unitNoneratio
/operating_model/cells/downside_2027q1_cargo_baseline:downside/valueNone130.0
/operating_model/cells/downside_2027q1_cargos:downside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/downside_2027q1_cargos:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cargos:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_cargos:downside/formula/refs/0Nonedownside_2027q1_cargo_baseline
/operating_model/cells/downside_2027q1_cargos:downside/formula/refs/1Nonedownside_2027q1_volume_factor
/operating_model/cells/downside_2027q1_cargos:downside/idNonedownside_2027q1_cargos
/operating_model/cells/downside_2027q1_cargos:downside/kindNonederived
/operating_model/cells/downside_2027q1_cargos:downside/labelNoneExported cargos
/operating_model/cells/downside_2027q1_cargos:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cargos:downside/unitNoneratio
/operating_model/cells/downside_2027q1_cargos:downside/valueNone117.0
/operating_model/cells/downside_2027q1_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2027q1_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_cash_after_claims:downside/formula/refs/0Nonedownside_2027q1_fcf
/operating_model/cells/downside_2027q1_cash_after_claims:downside/formula/refs/1Nonedownside_2027q1_claims
/operating_model/cells/downside_2027q1_cash_after_claims:downside/idNonedownside_2027q1_cash_after_claims
/operating_model/cells/downside_2027q1_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2027q1_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2027q1_cash_after_claims:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_after_claims:downside/valueNone-4306.09308904
/operating_model/cells/downside_2027q1_cash_costs:downside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/downside_2027q1_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_cash_costs:downside/formula/refs/0Nonedownside_2027q1_cost_budget
/operating_model/cells/downside_2027q1_cash_costs:downside/formula/refs/1Nonedownside_2027q1_cost_factor
/operating_model/cells/downside_2027q1_cash_costs:downside/idNonedownside_2027q1_cash_costs
/operating_model/cells/downside_2027q1_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2027q1_cash_costs:downside/labelNoneOperating costs net of other contribution
/operating_model/cells/downside_2027q1_cash_costs:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_costs:downside/valueNone715.0000000000001
/operating_model/cells/downside_2027q1_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2027q1_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_interest:downside/idNonedownside_2027q1_cash_interest
/operating_model/cells/downside_2027q1_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2027q1_cash_interest:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_interest:downside/valueNone500.0
/operating_model/cells/downside_2027q1_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_tax:downside/idNonedownside_2027q1_cash_tax
/operating_model/cells/downside_2027q1_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2027q1_cash_tax:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_tax:downside/valueNone120.0
/operating_model/cells/downside_2027q1_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2027q1_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_cfo:downside/formula/refs/0Nonedownside_2027q1_adj_ebitda
/operating_model/cells/downside_2027q1_cfo:downside/formula/refs/1Nonedownside_2027q1_cfo_uses
/operating_model/cells/downside_2027q1_cfo:downside/idNonedownside_2027q1_cfo
/operating_model/cells/downside_2027q1_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q1_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q1_cfo:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cfo:downside/valueNone124.15062499999965
/operating_model/cells/downside_2027q1_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2027q1_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_cfo_uses:downside/formula/refs/0Nonedownside_2027q1_cash_interest
/operating_model/cells/downside_2027q1_cfo_uses:downside/formula/refs/1Nonedownside_2027q1_cash_tax
/operating_model/cells/downside_2027q1_cfo_uses:downside/formula/refs/2Nonedownside_2027q1_wc_use
/operating_model/cells/downside_2027q1_cfo_uses:downside/formula/refs/3Nonedownside_2027q1_legal_cash_stress
/operating_model/cells/downside_2027q1_cfo_uses:downside/idNonedownside_2027q1_cfo_uses
/operating_model/cells/downside_2027q1_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2027q1_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2027q1_cfo_uses:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cfo_uses:downside/valueNone870.0
/operating_model/cells/downside_2027q1_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2027q1_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q1_claims:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_claims:downside/formula/refs/0Nonedownside_2027q1_subsidiary_distributions
/operating_model/cells/downside_2027q1_claims:downside/formula/refs/1Nonedownside_2027q1_common_dividends
/operating_model/cells/downside_2027q1_claims:downside/formula/refs/2Nonedownside_2027q1_preferred_redemption
/operating_model/cells/downside_2027q1_claims:downside/formula/refs/3Nonedownside_2027q1_debt_principal
/operating_model/cells/downside_2027q1_claims:downside/idNonedownside_2027q1_claims
/operating_model/cells/downside_2027q1_claims:downside/kindNonederived
/operating_model/cells/downside_2027q1_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2027q1_claims:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_claims:downside/valueNone430.24371404
/operating_model/cells/downside_2027q1_commission_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q1_commission_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q1_commission_fee:downside/idNonedownside_2027q1_commission_fee
/operating_model/cells/downside_2027q1_commission_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_commission_fee:downside/labelNonecommission fee revenue per TBtu
/operating_model/cells/downside_2027q1_commission_fee:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_commission_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_commission_fee:downside/valueNone5.0
/operating_model/cells/downside_2027q1_commission_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q1_commission_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q1_commission_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_commission_fees:downside/formula/refs/0Nonedownside_2027q1_volume
/operating_model/cells/downside_2027q1_commission_fees:downside/formula/refs/1Nonedownside_2027q1_commission_share
/operating_model/cells/downside_2027q1_commission_fees:downside/formula/refs/2Nonedownside_2027q1_commission_fee
/operating_model/cells/downside_2027q1_commission_fees:downside/idNonedownside_2027q1_commission_fees
/operating_model/cells/downside_2027q1_commission_fees:downside/kindNonederived
/operating_model/cells/downside_2027q1_commission_fees:downside/labelNonecommission fee revenue
/operating_model/cells/downside_2027q1_commission_fees:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_commission_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_commission_fees:downside/valueNone214.9875
/operating_model/cells/downside_2027q1_commission_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_commission_share:downside/caseNonedownside
/operating_model/cells/downside_2027q1_commission_share:downside/idNonedownside_2027q1_commission_share
/operating_model/cells/downside_2027q1_commission_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_commission_share:downside/labelNonePrecontracted commissioning share
/operating_model/cells/downside_2027q1_commission_share:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_commission_share:downside/unitNoneratio
/operating_model/cells/downside_2027q1_commission_share:downside/valueNone0.1
/operating_model/cells/downside_2027q1_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2027q1_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2027q1_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2027q1_common_dividends:downside/formula/refs/1Nonedownside_2027q1_dividend_share_factor
/operating_model/cells/downside_2027q1_common_dividends:downside/formula/refs/2Nonedownside_2027q1_dividend_factor
/operating_model/cells/downside_2027q1_common_dividends:downside/idNonedownside_2027q1_common_dividends
/operating_model/cells/downside_2027q1_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2027q1_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2027q1_common_dividends:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_common_dividends:downside/valueNone100.24371403999999
/operating_model/cells/downside_2027q1_cost_budget:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cost_budget:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cost_budget:downside/idNonedownside_2027q1_cost_budget
/operating_model/cells/downside_2027q1_cost_budget:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cost_budget:downside/labelNoneOperating cost/contribution budget
/operating_model/cells/downside_2027q1_cost_budget:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cost_budget:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cost_budget:downside/valueNone650.0
/operating_model/cells/downside_2027q1_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cost_factor:downside/idNonedownside_2027q1_cost_factor
/operating_model/cells/downside_2027q1_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cost_factor:downside/labelNoneCost execution stress
/operating_model/cells/downside_2027q1_cost_factor:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q1_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2027q1_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_da:downside/caseNonedownside
/operating_model/cells/downside_2027q1_da:downside/idNonedownside_2027q1_da
/operating_model/cells/downside_2027q1_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2027q1_da:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_da:downside/valueNone315.0
/operating_model/cells/downside_2027q1_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2027q1_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2027q1_debt_principal:downside/idNonedownside_2027q1_debt_principal
/operating_model/cells/downside_2027q1_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2027q1_debt_principal:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_debt_principal:downside/valueNone150.0
/operating_model/cells/downside_2027q1_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2027q1_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q1_dividend_factor:downside/idNonedownside_2027q1_dividend_factor
/operating_model/cells/downside_2027q1_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2027q1_dividend_factor:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q1_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/formula/refs/0Nonedownside_2027q1_shares
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/idNonedownside_2027q1_dividend_share_factor
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q1_dividend_share_factor:downside/valueNone1.0023999108663504
/operating_model/cells/downside_2027q1_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2027q1_fcf:downside/caseNonedownside
/operating_model/cells/downside_2027q1_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_fcf:downside/formula/refs/0Nonedownside_2027q1_cfo
/operating_model/cells/downside_2027q1_fcf:downside/formula/refs/1Nonedownside_2027q1_capex
/operating_model/cells/downside_2027q1_fcf:downside/idNonedownside_2027q1_fcf
/operating_model/cells/downside_2027q1_fcf:downside/kindNonederived
/operating_model/cells/downside_2027q1_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2027q1_fcf:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_fcf:downside/valueNone-3875.8493750000002
/operating_model/cells/downside_2027q1_fee_revenue:downside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/downside_2027q1_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_fee_revenue:downside/formula/refs/0Nonedownside_2027q1_spa_fees
/operating_model/cells/downside_2027q1_fee_revenue:downside/formula/refs/1Nonedownside_2027q1_commission_fees
/operating_model/cells/downside_2027q1_fee_revenue:downside/formula/refs/2Nonedownside_2027q1_merchant_fees
/operating_model/cells/downside_2027q1_fee_revenue:downside/idNonedownside_2027q1_fee_revenue
/operating_model/cells/downside_2027q1_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q1_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2027q1_fee_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_fee_revenue:downside/valueNone1709.1506249999998
/operating_model/cells/downside_2027q1_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2027q1_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2027q1_feed_gas:downside/idNonedownside_2027q1_feed_gas
/operating_model/cells/downside_2027q1_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2027q1_feed_gas:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_feed_gas:downside/valueNone3.5
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/formula/refs/0Nonedownside_2027q1_volume
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/formula/refs/1Nonedownside_2027q1_feed_gas
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/idNonedownside_2027q1_feed_gas_recovery
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_feed_gas_recovery:downside/valueNone1504.9125
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/idNonedownside_2027q1_legal_cash_stress
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_legal_cash_stress:downside/valueNone0.0
/operating_model/cells/downside_2027q1_merchant_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q1_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q1_merchant_fee:downside/idNonedownside_2027q1_merchant_fee
/operating_model/cells/downside_2027q1_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_merchant_fee:downside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/downside_2027q1_merchant_fee:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_merchant_fee:downside/valueNone6.0
/operating_model/cells/downside_2027q1_merchant_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q1_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q1_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_merchant_fees:downside/formula/refs/0Nonedownside_2027q1_volume
/operating_model/cells/downside_2027q1_merchant_fees:downside/formula/refs/1Nonedownside_2027q1_merchant_share
/operating_model/cells/downside_2027q1_merchant_fees:downside/formula/refs/2Nonedownside_2027q1_merchant_fee
/operating_model/cells/downside_2027q1_merchant_fees:downside/idNonedownside_2027q1_merchant_fees
/operating_model/cells/downside_2027q1_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2027q1_merchant_fees:downside/labelNonemerchant fee revenue
/operating_model/cells/downside_2027q1_merchant_fees:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_merchant_fees:downside/valueNone902.9474999999999
/operating_model/cells/downside_2027q1_merchant_share:downside/basisNoneNo double-counted sales mix.
/operating_model/cells/downside_2027q1_merchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q1_merchant_share:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_merchant_share:downside/formula/refs/0Nonedownside_2027q1_one
/operating_model/cells/downside_2027q1_merchant_share:downside/formula/refs/1Nonedownside_2027q1_nonmerchant_share
/operating_model/cells/downside_2027q1_merchant_share:downside/idNonedownside_2027q1_merchant_share
/operating_model/cells/downside_2027q1_merchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q1_merchant_share:downside/labelNoneRemaining merchant volume share
/operating_model/cells/downside_2027q1_merchant_share:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_merchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q1_merchant_share:downside/valueNone0.35
/operating_model/cells/downside_2027q1_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q1_nci_cash:downside/idNonedownside_2027q1_nci_cash
/operating_model/cells/downside_2027q1_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2027q1_nci_cash:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_nci_cash:downside/valueNone45.0
/operating_model/cells/downside_2027q1_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2027q1_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2027q1_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_noncash_deductions:downside/formula/refs/0Nonedownside_2027q1_da
/operating_model/cells/downside_2027q1_noncash_deductions:downside/formula/refs/1Nonedownside_2027q1_sbc
/operating_model/cells/downside_2027q1_noncash_deductions:downside/formula/refs/2Nonedownside_2027q1_other_adjustments
/operating_model/cells/downside_2027q1_noncash_deductions:downside/idNonedownside_2027q1_noncash_deductions
/operating_model/cells/downside_2027q1_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2027q1_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2027q1_noncash_deductions:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_noncash_deductions:downside/valueNone339.0
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/basisNoneMutually exclusive price buckets.
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/formula/refs/0Nonedownside_2027q1_spa_share
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/formula/refs/1Nonedownside_2027q1_commission_share
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/idNonedownside_2027q1_nonmerchant_share
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q1_nonmerchant_share:downside/valueNone0.65
/operating_model/cells/downside_2027q1_one:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_one:downside/caseNonedownside
/operating_model/cells/downside_2027q1_one:downside/idNonedownside_2027q1_one
/operating_model/cells/downside_2027q1_one:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_one:downside/labelNoneAll recognized volume
/operating_model/cells/downside_2027q1_one:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_one:downside/unitNoneratio
/operating_model/cells/downside_2027q1_one:downside/valueNone1.0
/operating_model/cells/downside_2027q1_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2027q1_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q1_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/0Nonedownside_2027q1_adj_ebitda
/operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/1Nonedownside_2027q1_noncash_deductions
/operating_model/cells/downside_2027q1_operating_income:downside/idNonedownside_2027q1_operating_income
/operating_model/cells/downside_2027q1_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q1_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2027q1_operating_income:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_operating_income:downside/valueNone655.1506249999996
/operating_model/cells/downside_2027q1_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2027q1_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2027q1_other_adjustments:downside/idNonedownside_2027q1_other_adjustments
/operating_model/cells/downside_2027q1_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2027q1_other_adjustments:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_other_adjustments:downside/valueNone5.0
/operating_model/cells/downside_2027q1_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2027q1_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2027q1_preferred_redemption:downside/idNonedownside_2027q1_preferred_redemption
/operating_model/cells/downside_2027q1_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2027q1_preferred_redemption:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2027q1_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2027q1_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_revenue:downside/formula/refs/0Nonedownside_2027q1_fee_revenue
/operating_model/cells/downside_2027q1_revenue:downside/formula/refs/1Nonedownside_2027q1_feed_gas_recovery
/operating_model/cells/downside_2027q1_revenue:downside/idNonedownside_2027q1_revenue
/operating_model/cells/downside_2027q1_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q1_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2027q1_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_revenue:downside/valueNone3214.0631249999997
/operating_model/cells/downside_2027q1_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q1_sbc:downside/idNonedownside_2027q1_sbc
/operating_model/cells/downside_2027q1_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2027q1_sbc:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_sbc:downside/valueNone19.0
/operating_model/cells/downside_2027q1_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2027q1_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q1_series_a_cash:downside/idNonedownside_2027q1_series_a_cash
/operating_model/cells/downside_2027q1_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2027q1_series_a_cash:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_series_a_cash:downside/valueNone135.0
/operating_model/cells/downside_2027q1_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2027q1_share_growth:downside/idNonedownside_2027q1_share_growth
/operating_model/cells/downside_2027q1_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2027q1_share_growth:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q1_share_growth:downside/valueNone6.0
/operating_model/cells/downside_2027q1_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2027q1_shares:downside/caseNonedownside
/operating_model/cells/downside_2027q1_shares:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2027q1_shares:downside/formula/refs/1Nonedownside_2027q1_share_growth
/operating_model/cells/downside_2027q1_shares:downside/idNonedownside_2027q1_shares
/operating_model/cells/downside_2027q1_shares:downside/kindNonederived
/operating_model/cells/downside_2027q1_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2027q1_shares:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q1_shares:downside/valueNone2506.092851
/operating_model/cells/downside_2027q1_spa_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q1_spa_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q1_spa_fee:downside/idNonedownside_2027q1_spa_fee
/operating_model/cells/downside_2027q1_spa_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_spa_fee:downside/labelNonespa fee revenue per TBtu
/operating_model/cells/downside_2027q1_spa_fee:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_spa_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_spa_fee:downside/valueNone2.5
/operating_model/cells/downside_2027q1_spa_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q1_spa_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q1_spa_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_spa_fees:downside/formula/refs/0Nonedownside_2027q1_volume
/operating_model/cells/downside_2027q1_spa_fees:downside/formula/refs/1Nonedownside_2027q1_spa_share
/operating_model/cells/downside_2027q1_spa_fees:downside/formula/refs/2Nonedownside_2027q1_spa_fee
/operating_model/cells/downside_2027q1_spa_fees:downside/idNonedownside_2027q1_spa_fees
/operating_model/cells/downside_2027q1_spa_fees:downside/kindNonederived
/operating_model/cells/downside_2027q1_spa_fees:downside/labelNonespa fee revenue
/operating_model/cells/downside_2027q1_spa_fees:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_spa_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_spa_fees:downside/valueNone591.215625
/operating_model/cells/downside_2027q1_spa_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_spa_share:downside/caseNonedownside
/operating_model/cells/downside_2027q1_spa_share:downside/idNonedownside_2027q1_spa_share
/operating_model/cells/downside_2027q1_spa_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_spa_share:downside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/downside_2027q1_spa_share:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_spa_share:downside/unitNoneratio
/operating_model/cells/downside_2027q1_spa_share:downside/valueNone0.55
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/formula/refs/0Nonedownside_2027q1_series_a_cash
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/formula/refs/1Nonedownside_2027q1_nci_cash
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/idNonedownside_2027q1_subsidiary_distributions
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_subsidiary_distributions:downside/valueNone180.0
/operating_model/cells/downside_2027q1_volume:downside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/downside_2027q1_volume:downside/caseNonedownside
/operating_model/cells/downside_2027q1_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_volume:downside/formula/refs/0Nonedownside_2027q1_cargos
/operating_model/cells/downside_2027q1_volume:downside/formula/refs/1Nonecargo_size
/operating_model/cells/downside_2027q1_volume:downside/formula/refs/2Nonesales_timing
/operating_model/cells/downside_2027q1_volume:downside/idNonedownside_2027q1_volume
/operating_model/cells/downside_2027q1_volume:downside/kindNonederived
/operating_model/cells/downside_2027q1_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2027q1_volume:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_volume:downside/unitNoneratio
/operating_model/cells/downside_2027q1_volume:downside/valueNone429.97499999999997
/operating_model/cells/downside_2027q1_volume_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_volume_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q1_volume_factor:downside/idNonedownside_2027q1_volume_factor
/operating_model/cells/downside_2027q1_volume_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_volume_factor:downside/labelNoneCargo delivery factor
/operating_model/cells/downside_2027q1_volume_factor:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_volume_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q1_volume_factor:downside/valueNone0.9
/operating_model/cells/downside_2027q1_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2027q1_wc_use:downside/idNonedownside_2027q1_wc_use
/operating_model/cells/downside_2027q1_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2027q1_wc_use:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_wc_use:downside/valueNone250.0
/operating_model/cells/downside_2027q2_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2027q2_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2027q2_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_adj_ebitda:downside/formula/refs/0Nonedownside_2027q2_fee_revenue
/operating_model/cells/downside_2027q2_adj_ebitda:downside/formula/refs/1Nonedownside_2027q2_cash_costs
/operating_model/cells/downside_2027q2_adj_ebitda:downside/idNonedownside_2027q2_adj_ebitda
/operating_model/cells/downside_2027q2_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2027q2_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2027q2_adj_ebitda:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_adj_ebitda:downside/valueNone876.1078124999998
/operating_model/cells/downside_2027q2_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2027q2_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q2_capex:downside/idNonedownside_2027q2_capex
/operating_model/cells/downside_2027q2_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2027q2_capex:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_capex:downside/valueNone3900.0
/operating_model/cells/downside_2027q2_cargo_baseline:downside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/downside_2027q2_cargo_baseline:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cargo_baseline:downside/idNonedownside_2027q2_cargo_baseline
/operating_model/cells/downside_2027q2_cargo_baseline:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cargo_baseline:downside/labelNoneStandalone project export-cargo plan
/operating_model/cells/downside_2027q2_cargo_baseline:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cargo_baseline:downside/unitNoneratio
/operating_model/cells/downside_2027q2_cargo_baseline:downside/valueNone135.0
/operating_model/cells/downside_2027q2_cargos:downside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/downside_2027q2_cargos:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cargos:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_cargos:downside/formula/refs/0Nonedownside_2027q2_cargo_baseline
/operating_model/cells/downside_2027q2_cargos:downside/formula/refs/1Nonedownside_2027q2_volume_factor
/operating_model/cells/downside_2027q2_cargos:downside/idNonedownside_2027q2_cargos
/operating_model/cells/downside_2027q2_cargos:downside/kindNonederived
/operating_model/cells/downside_2027q2_cargos:downside/labelNoneExported cargos
/operating_model/cells/downside_2027q2_cargos:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cargos:downside/unitNoneratio
/operating_model/cells/downside_2027q2_cargos:downside/valueNone121.5
/operating_model/cells/downside_2027q2_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2027q2_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_cash_after_claims:downside/formula/refs/0Nonedownside_2027q2_fcf
/operating_model/cells/downside_2027q2_cash_after_claims:downside/formula/refs/1Nonedownside_2027q2_claims
/operating_model/cells/downside_2027q2_cash_after_claims:downside/idNonedownside_2027q2_cash_after_claims
/operating_model/cells/downside_2027q2_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2027q2_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2027q2_cash_after_claims:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_after_claims:downside/valueNone-4114.25590154
/operating_model/cells/downside_2027q2_cash_costs:downside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/downside_2027q2_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_cash_costs:downside/formula/refs/0Nonedownside_2027q2_cost_budget
/operating_model/cells/downside_2027q2_cash_costs:downside/formula/refs/1Nonedownside_2027q2_cost_factor
/operating_model/cells/downside_2027q2_cash_costs:downside/idNonedownside_2027q2_cash_costs
/operating_model/cells/downside_2027q2_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2027q2_cash_costs:downside/labelNoneOperating costs net of other contribution
/operating_model/cells/downside_2027q2_cash_costs:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_costs:downside/valueNone742.5000000000001
/operating_model/cells/downside_2027q2_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2027q2_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_interest:downside/idNonedownside_2027q2_cash_interest
/operating_model/cells/downside_2027q2_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2027q2_cash_interest:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_interest:downside/valueNone525.0
/operating_model/cells/downside_2027q2_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_tax:downside/idNonedownside_2027q2_cash_tax
/operating_model/cells/downside_2027q2_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2027q2_cash_tax:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_tax:downside/valueNone120.0
/operating_model/cells/downside_2027q2_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2027q2_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_cfo:downside/formula/refs/0Nonedownside_2027q2_adj_ebitda
/operating_model/cells/downside_2027q2_cfo:downside/formula/refs/1Nonedownside_2027q2_cfo_uses
/operating_model/cells/downside_2027q2_cfo:downside/idNonedownside_2027q2_cfo
/operating_model/cells/downside_2027q2_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q2_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q2_cfo:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cfo:downside/valueNone81.1078124999998
/operating_model/cells/downside_2027q2_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2027q2_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_cfo_uses:downside/formula/refs/0Nonedownside_2027q2_cash_interest
/operating_model/cells/downside_2027q2_cfo_uses:downside/formula/refs/1Nonedownside_2027q2_cash_tax
/operating_model/cells/downside_2027q2_cfo_uses:downside/formula/refs/2Nonedownside_2027q2_wc_use
/operating_model/cells/downside_2027q2_cfo_uses:downside/formula/refs/3Nonedownside_2027q2_legal_cash_stress
/operating_model/cells/downside_2027q2_cfo_uses:downside/idNonedownside_2027q2_cfo_uses
/operating_model/cells/downside_2027q2_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2027q2_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2027q2_cfo_uses:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cfo_uses:downside/valueNone795.0
/operating_model/cells/downside_2027q2_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2027q2_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q2_claims:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_claims:downside/formula/refs/0Nonedownside_2027q2_subsidiary_distributions
/operating_model/cells/downside_2027q2_claims:downside/formula/refs/1Nonedownside_2027q2_common_dividends
/operating_model/cells/downside_2027q2_claims:downside/formula/refs/2Nonedownside_2027q2_preferred_redemption
/operating_model/cells/downside_2027q2_claims:downside/formula/refs/3Nonedownside_2027q2_debt_principal
/operating_model/cells/downside_2027q2_claims:downside/idNonedownside_2027q2_claims
/operating_model/cells/downside_2027q2_claims:downside/kindNonederived
/operating_model/cells/downside_2027q2_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2027q2_claims:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_claims:downside/valueNone295.36371404
/operating_model/cells/downside_2027q2_commission_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q2_commission_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q2_commission_fee:downside/idNonedownside_2027q2_commission_fee
/operating_model/cells/downside_2027q2_commission_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_commission_fee:downside/labelNonecommission fee revenue per TBtu
/operating_model/cells/downside_2027q2_commission_fee:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_commission_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_commission_fee:downside/valueNone5.0
/operating_model/cells/downside_2027q2_commission_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q2_commission_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q2_commission_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_commission_fees:downside/formula/refs/0Nonedownside_2027q2_volume
/operating_model/cells/downside_2027q2_commission_fees:downside/formula/refs/1Nonedownside_2027q2_commission_share
/operating_model/cells/downside_2027q2_commission_fees:downside/formula/refs/2Nonedownside_2027q2_commission_fee
/operating_model/cells/downside_2027q2_commission_fees:downside/idNonedownside_2027q2_commission_fees
/operating_model/cells/downside_2027q2_commission_fees:downside/kindNonederived
/operating_model/cells/downside_2027q2_commission_fees:downside/labelNonecommission fee revenue
/operating_model/cells/downside_2027q2_commission_fees:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_commission_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_commission_fees:downside/valueNone223.25625000000002
/operating_model/cells/downside_2027q2_commission_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_commission_share:downside/caseNonedownside
/operating_model/cells/downside_2027q2_commission_share:downside/idNonedownside_2027q2_commission_share
/operating_model/cells/downside_2027q2_commission_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_commission_share:downside/labelNonePrecontracted commissioning share
/operating_model/cells/downside_2027q2_commission_share:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_commission_share:downside/unitNoneratio
/operating_model/cells/downside_2027q2_commission_share:downside/valueNone0.1
/operating_model/cells/downside_2027q2_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2027q2_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2027q2_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2027q2_common_dividends:downside/formula/refs/1Nonedownside_2027q2_dividend_share_factor
/operating_model/cells/downside_2027q2_common_dividends:downside/formula/refs/2Nonedownside_2027q2_dividend_factor
/operating_model/cells/downside_2027q2_common_dividends:downside/idNonedownside_2027q2_common_dividends
/operating_model/cells/downside_2027q2_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2027q2_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2027q2_common_dividends:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_common_dividends:downside/valueNone100.36371404
/operating_model/cells/downside_2027q2_cost_budget:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cost_budget:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cost_budget:downside/idNonedownside_2027q2_cost_budget
/operating_model/cells/downside_2027q2_cost_budget:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cost_budget:downside/labelNoneOperating cost/contribution budget
/operating_model/cells/downside_2027q2_cost_budget:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cost_budget:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cost_budget:downside/valueNone675.0
/operating_model/cells/downside_2027q2_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cost_factor:downside/idNonedownside_2027q2_cost_factor
/operating_model/cells/downside_2027q2_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cost_factor:downside/labelNoneCost execution stress
/operating_model/cells/downside_2027q2_cost_factor:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q2_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2027q2_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_da:downside/caseNonedownside
/operating_model/cells/downside_2027q2_da:downside/idNonedownside_2027q2_da
/operating_model/cells/downside_2027q2_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2027q2_da:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_da:downside/valueNone335.0
/operating_model/cells/downside_2027q2_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2027q2_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2027q2_debt_principal:downside/idNonedownside_2027q2_debt_principal
/operating_model/cells/downside_2027q2_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2027q2_debt_principal:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_debt_principal:downside/valueNone150.0
/operating_model/cells/downside_2027q2_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2027q2_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q2_dividend_factor:downside/idNonedownside_2027q2_dividend_factor
/operating_model/cells/downside_2027q2_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2027q2_dividend_factor:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q2_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/formula/refs/0Nonedownside_2027q2_shares
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/idNonedownside_2027q2_dividend_share_factor
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q2_dividend_share_factor:downside/valueNone1.0035998662995258
/operating_model/cells/downside_2027q2_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2027q2_fcf:downside/caseNonedownside
/operating_model/cells/downside_2027q2_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_fcf:downside/formula/refs/0Nonedownside_2027q2_cfo
/operating_model/cells/downside_2027q2_fcf:downside/formula/refs/1Nonedownside_2027q2_capex
/operating_model/cells/downside_2027q2_fcf:downside/idNonedownside_2027q2_fcf
/operating_model/cells/downside_2027q2_fcf:downside/kindNonederived
/operating_model/cells/downside_2027q2_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2027q2_fcf:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_fcf:downside/valueNone-3818.8921875
/operating_model/cells/downside_2027q2_fee_revenue:downside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/downside_2027q2_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_fee_revenue:downside/formula/refs/0Nonedownside_2027q2_spa_fees
/operating_model/cells/downside_2027q2_fee_revenue:downside/formula/refs/1Nonedownside_2027q2_commission_fees
/operating_model/cells/downside_2027q2_fee_revenue:downside/formula/refs/2Nonedownside_2027q2_merchant_fees
/operating_model/cells/downside_2027q2_fee_revenue:downside/idNonedownside_2027q2_fee_revenue
/operating_model/cells/downside_2027q2_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q2_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2027q2_fee_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_fee_revenue:downside/valueNone1618.6078125
/operating_model/cells/downside_2027q2_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2027q2_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2027q2_feed_gas:downside/idNonedownside_2027q2_feed_gas
/operating_model/cells/downside_2027q2_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2027q2_feed_gas:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_feed_gas:downside/valueNone3.5
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/formula/refs/0Nonedownside_2027q2_volume
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/formula/refs/1Nonedownside_2027q2_feed_gas
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/idNonedownside_2027q2_feed_gas_recovery
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_feed_gas_recovery:downside/valueNone1562.79375
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/idNonedownside_2027q2_legal_cash_stress
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_legal_cash_stress:downside/valueNone0.0
/operating_model/cells/downside_2027q2_merchant_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q2_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q2_merchant_fee:downside/idNonedownside_2027q2_merchant_fee
/operating_model/cells/downside_2027q2_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_merchant_fee:downside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/downside_2027q2_merchant_fee:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_merchant_fee:downside/valueNone6.0
/operating_model/cells/downside_2027q2_merchant_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q2_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q2_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_merchant_fees:downside/formula/refs/0Nonedownside_2027q2_volume
/operating_model/cells/downside_2027q2_merchant_fees:downside/formula/refs/1Nonedownside_2027q2_merchant_share
/operating_model/cells/downside_2027q2_merchant_fees:downside/formula/refs/2Nonedownside_2027q2_merchant_fee
/operating_model/cells/downside_2027q2_merchant_fees:downside/idNonedownside_2027q2_merchant_fees
/operating_model/cells/downside_2027q2_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2027q2_merchant_fees:downside/labelNonemerchant fee revenue
/operating_model/cells/downside_2027q2_merchant_fees:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_merchant_fees:downside/valueNone669.76875
/operating_model/cells/downside_2027q2_merchant_share:downside/basisNoneNo double-counted sales mix.
/operating_model/cells/downside_2027q2_merchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q2_merchant_share:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_merchant_share:downside/formula/refs/0Nonedownside_2027q2_one
/operating_model/cells/downside_2027q2_merchant_share:downside/formula/refs/1Nonedownside_2027q2_nonmerchant_share
/operating_model/cells/downside_2027q2_merchant_share:downside/idNonedownside_2027q2_merchant_share
/operating_model/cells/downside_2027q2_merchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q2_merchant_share:downside/labelNoneRemaining merchant volume share
/operating_model/cells/downside_2027q2_merchant_share:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_merchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q2_merchant_share:downside/valueNone0.25
/operating_model/cells/downside_2027q2_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q2_nci_cash:downside/idNonedownside_2027q2_nci_cash
/operating_model/cells/downside_2027q2_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2027q2_nci_cash:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_nci_cash:downside/valueNone45.0
/operating_model/cells/downside_2027q2_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2027q2_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2027q2_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_noncash_deductions:downside/formula/refs/0Nonedownside_2027q2_da
/operating_model/cells/downside_2027q2_noncash_deductions:downside/formula/refs/1Nonedownside_2027q2_sbc
/operating_model/cells/downside_2027q2_noncash_deductions:downside/formula/refs/2Nonedownside_2027q2_other_adjustments
/operating_model/cells/downside_2027q2_noncash_deductions:downside/idNonedownside_2027q2_noncash_deductions
/operating_model/cells/downside_2027q2_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2027q2_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2027q2_noncash_deductions:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_noncash_deductions:downside/valueNone361.0
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/basisNoneMutually exclusive price buckets.
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/formula/refs/0Nonedownside_2027q2_spa_share
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/formula/refs/1Nonedownside_2027q2_commission_share
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/idNonedownside_2027q2_nonmerchant_share
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q2_nonmerchant_share:downside/valueNone0.75
/operating_model/cells/downside_2027q2_one:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_one:downside/caseNonedownside
/operating_model/cells/downside_2027q2_one:downside/idNonedownside_2027q2_one
/operating_model/cells/downside_2027q2_one:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_one:downside/labelNoneAll recognized volume
/operating_model/cells/downside_2027q2_one:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_one:downside/unitNoneratio
/operating_model/cells/downside_2027q2_one:downside/valueNone1.0
/operating_model/cells/downside_2027q2_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2027q2_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q2_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/0Nonedownside_2027q2_adj_ebitda
/operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/1Nonedownside_2027q2_noncash_deductions
/operating_model/cells/downside_2027q2_operating_income:downside/idNonedownside_2027q2_operating_income
/operating_model/cells/downside_2027q2_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q2_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2027q2_operating_income:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_operating_income:downside/valueNone515.1078124999998
/operating_model/cells/downside_2027q2_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2027q2_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2027q2_other_adjustments:downside/idNonedownside_2027q2_other_adjustments
/operating_model/cells/downside_2027q2_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2027q2_other_adjustments:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_other_adjustments:downside/valueNone5.0
/operating_model/cells/downside_2027q2_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2027q2_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2027q2_preferred_redemption:downside/idNonedownside_2027q2_preferred_redemption
/operating_model/cells/downside_2027q2_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2027q2_preferred_redemption:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2027q2_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2027q2_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_revenue:downside/formula/refs/0Nonedownside_2027q2_fee_revenue
/operating_model/cells/downside_2027q2_revenue:downside/formula/refs/1Nonedownside_2027q2_feed_gas_recovery
/operating_model/cells/downside_2027q2_revenue:downside/idNonedownside_2027q2_revenue
/operating_model/cells/downside_2027q2_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q2_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2027q2_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_revenue:downside/valueNone3181.4015625
/operating_model/cells/downside_2027q2_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q2_sbc:downside/idNonedownside_2027q2_sbc
/operating_model/cells/downside_2027q2_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2027q2_sbc:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_sbc:downside/valueNone21.0
/operating_model/cells/downside_2027q2_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2027q2_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q2_series_a_cash:downside/idNonedownside_2027q2_series_a_cash
/operating_model/cells/downside_2027q2_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2027q2_series_a_cash:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_series_a_cash:downside/valueNone0.0
/operating_model/cells/downside_2027q2_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2027q2_share_growth:downside/idNonedownside_2027q2_share_growth
/operating_model/cells/downside_2027q2_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2027q2_share_growth:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q2_share_growth:downside/valueNone9.0
/operating_model/cells/downside_2027q2_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2027q2_shares:downside/caseNonedownside
/operating_model/cells/downside_2027q2_shares:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2027q2_shares:downside/formula/refs/1Nonedownside_2027q2_share_growth
/operating_model/cells/downside_2027q2_shares:downside/idNonedownside_2027q2_shares
/operating_model/cells/downside_2027q2_shares:downside/kindNonederived
/operating_model/cells/downside_2027q2_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2027q2_shares:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q2_shares:downside/valueNone2509.092851
/operating_model/cells/downside_2027q2_spa_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q2_spa_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q2_spa_fee:downside/idNonedownside_2027q2_spa_fee
/operating_model/cells/downside_2027q2_spa_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_spa_fee:downside/labelNonespa fee revenue per TBtu
/operating_model/cells/downside_2027q2_spa_fee:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_spa_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_spa_fee:downside/valueNone2.5
/operating_model/cells/downside_2027q2_spa_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q2_spa_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q2_spa_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_spa_fees:downside/formula/refs/0Nonedownside_2027q2_volume
/operating_model/cells/downside_2027q2_spa_fees:downside/formula/refs/1Nonedownside_2027q2_spa_share
/operating_model/cells/downside_2027q2_spa_fees:downside/formula/refs/2Nonedownside_2027q2_spa_fee
/operating_model/cells/downside_2027q2_spa_fees:downside/idNonedownside_2027q2_spa_fees
/operating_model/cells/downside_2027q2_spa_fees:downside/kindNonederived
/operating_model/cells/downside_2027q2_spa_fees:downside/labelNonespa fee revenue
/operating_model/cells/downside_2027q2_spa_fees:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_spa_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_spa_fees:downside/valueNone725.5828125
/operating_model/cells/downside_2027q2_spa_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_spa_share:downside/caseNonedownside
/operating_model/cells/downside_2027q2_spa_share:downside/idNonedownside_2027q2_spa_share
/operating_model/cells/downside_2027q2_spa_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_spa_share:downside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/downside_2027q2_spa_share:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_spa_share:downside/unitNoneratio
/operating_model/cells/downside_2027q2_spa_share:downside/valueNone0.65
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/formula/refs/0Nonedownside_2027q2_series_a_cash
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/formula/refs/1Nonedownside_2027q2_nci_cash
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/idNonedownside_2027q2_subsidiary_distributions
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_subsidiary_distributions:downside/valueNone45.0
/operating_model/cells/downside_2027q2_volume:downside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/downside_2027q2_volume:downside/caseNonedownside
/operating_model/cells/downside_2027q2_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_volume:downside/formula/refs/0Nonedownside_2027q2_cargos
/operating_model/cells/downside_2027q2_volume:downside/formula/refs/1Nonecargo_size
/operating_model/cells/downside_2027q2_volume:downside/formula/refs/2Nonesales_timing
/operating_model/cells/downside_2027q2_volume:downside/idNonedownside_2027q2_volume
/operating_model/cells/downside_2027q2_volume:downside/kindNonederived
/operating_model/cells/downside_2027q2_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2027q2_volume:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_volume:downside/unitNoneratio
/operating_model/cells/downside_2027q2_volume:downside/valueNone446.5125
/operating_model/cells/downside_2027q2_volume_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_volume_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q2_volume_factor:downside/idNonedownside_2027q2_volume_factor
/operating_model/cells/downside_2027q2_volume_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_volume_factor:downside/labelNoneCargo delivery factor
/operating_model/cells/downside_2027q2_volume_factor:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_volume_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q2_volume_factor:downside/valueNone0.9
/operating_model/cells/downside_2027q2_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2027q2_wc_use:downside/idNonedownside_2027q2_wc_use
/operating_model/cells/downside_2027q2_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2027q2_wc_use:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_wc_use:downside/valueNone150.0
/operating_model/cells/downside_2027q3_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2027q3_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2027q3_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_adj_ebitda:downside/formula/refs/0Nonedownside_2027q3_fee_revenue
/operating_model/cells/downside_2027q3_adj_ebitda:downside/formula/refs/1Nonedownside_2027q3_cash_costs
/operating_model/cells/downside_2027q3_adj_ebitda:downside/idNonedownside_2027q3_adj_ebitda
/operating_model/cells/downside_2027q3_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2027q3_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2027q3_adj_ebitda:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_adj_ebitda:downside/valueNone800.6490624999998
/operating_model/cells/downside_2027q3_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2027q3_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q3_capex:downside/idNonedownside_2027q3_capex
/operating_model/cells/downside_2027q3_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2027q3_capex:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_capex:downside/valueNone3500.0
/operating_model/cells/downside_2027q3_cargo_baseline:downside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/downside_2027q3_cargo_baseline:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cargo_baseline:downside/idNonedownside_2027q3_cargo_baseline
/operating_model/cells/downside_2027q3_cargo_baseline:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cargo_baseline:downside/labelNoneStandalone project export-cargo plan
/operating_model/cells/downside_2027q3_cargo_baseline:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cargo_baseline:downside/unitNoneratio
/operating_model/cells/downside_2027q3_cargo_baseline:downside/valueNone145.0
/operating_model/cells/downside_2027q3_cargos:downside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/downside_2027q3_cargos:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cargos:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_cargos:downside/formula/refs/0Nonedownside_2027q3_cargo_baseline
/operating_model/cells/downside_2027q3_cargos:downside/formula/refs/1Nonedownside_2027q3_volume_factor
/operating_model/cells/downside_2027q3_cargos:downside/idNonedownside_2027q3_cargos
/operating_model/cells/downside_2027q3_cargos:downside/kindNonederived
/operating_model/cells/downside_2027q3_cargos:downside/labelNoneExported cargos
/operating_model/cells/downside_2027q3_cargos:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cargos:downside/unitNoneratio
/operating_model/cells/downside_2027q3_cargos:downside/valueNone130.5
/operating_model/cells/downside_2027q3_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2027q3_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_cash_after_claims:downside/formula/refs/0Nonedownside_2027q3_fcf
/operating_model/cells/downside_2027q3_cash_after_claims:downside/formula/refs/1Nonedownside_2027q3_claims
/operating_model/cells/downside_2027q3_cash_after_claims:downside/idNonedownside_2027q3_cash_after_claims
/operating_model/cells/downside_2027q3_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2027q3_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2027q3_cash_after_claims:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_after_claims:downside/valueNone-3999.8346515400003
/operating_model/cells/downside_2027q3_cash_costs:downside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/downside_2027q3_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_cash_costs:downside/formula/refs/0Nonedownside_2027q3_cost_budget
/operating_model/cells/downside_2027q3_cash_costs:downside/formula/refs/1Nonedownside_2027q3_cost_factor
/operating_model/cells/downside_2027q3_cash_costs:downside/idNonedownside_2027q3_cash_costs
/operating_model/cells/downside_2027q3_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2027q3_cash_costs:downside/labelNoneOperating costs net of other contribution
/operating_model/cells/downside_2027q3_cash_costs:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_costs:downside/valueNone770.0000000000001
/operating_model/cells/downside_2027q3_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2027q3_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_interest:downside/idNonedownside_2027q3_cash_interest
/operating_model/cells/downside_2027q3_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2027q3_cash_interest:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_interest:downside/valueNone550.0
/operating_model/cells/downside_2027q3_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_tax:downside/idNonedownside_2027q3_cash_tax
/operating_model/cells/downside_2027q3_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2027q3_cash_tax:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_tax:downside/valueNone120.0
/operating_model/cells/downside_2027q3_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2027q3_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_cfo:downside/formula/refs/0Nonedownside_2027q3_adj_ebitda
/operating_model/cells/downside_2027q3_cfo:downside/formula/refs/1Nonedownside_2027q3_cfo_uses
/operating_model/cells/downside_2027q3_cfo:downside/idNonedownside_2027q3_cfo
/operating_model/cells/downside_2027q3_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q3_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q3_cfo:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cfo:downside/valueNone-69.35093750000021
/operating_model/cells/downside_2027q3_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2027q3_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_cfo_uses:downside/formula/refs/0Nonedownside_2027q3_cash_interest
/operating_model/cells/downside_2027q3_cfo_uses:downside/formula/refs/1Nonedownside_2027q3_cash_tax
/operating_model/cells/downside_2027q3_cfo_uses:downside/formula/refs/2Nonedownside_2027q3_wc_use
/operating_model/cells/downside_2027q3_cfo_uses:downside/formula/refs/3Nonedownside_2027q3_legal_cash_stress
/operating_model/cells/downside_2027q3_cfo_uses:downside/idNonedownside_2027q3_cfo_uses
/operating_model/cells/downside_2027q3_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2027q3_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2027q3_cfo_uses:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cfo_uses:downside/valueNone870.0
/operating_model/cells/downside_2027q3_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2027q3_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q3_claims:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_claims:downside/formula/refs/0Nonedownside_2027q3_subsidiary_distributions
/operating_model/cells/downside_2027q3_claims:downside/formula/refs/1Nonedownside_2027q3_common_dividends
/operating_model/cells/downside_2027q3_claims:downside/formula/refs/2Nonedownside_2027q3_preferred_redemption
/operating_model/cells/downside_2027q3_claims:downside/formula/refs/3Nonedownside_2027q3_debt_principal
/operating_model/cells/downside_2027q3_claims:downside/idNonedownside_2027q3_claims
/operating_model/cells/downside_2027q3_claims:downside/kindNonederived
/operating_model/cells/downside_2027q3_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2027q3_claims:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_claims:downside/valueNone430.48371404
/operating_model/cells/downside_2027q3_commission_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q3_commission_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q3_commission_fee:downside/idNonedownside_2027q3_commission_fee
/operating_model/cells/downside_2027q3_commission_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_commission_fee:downside/labelNonecommission fee revenue per TBtu
/operating_model/cells/downside_2027q3_commission_fee:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_commission_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_commission_fee:downside/valueNone5.0
/operating_model/cells/downside_2027q3_commission_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q3_commission_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q3_commission_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_commission_fees:downside/formula/refs/0Nonedownside_2027q3_volume
/operating_model/cells/downside_2027q3_commission_fees:downside/formula/refs/1Nonedownside_2027q3_commission_share
/operating_model/cells/downside_2027q3_commission_fees:downside/formula/refs/2Nonedownside_2027q3_commission_fee
/operating_model/cells/downside_2027q3_commission_fees:downside/idNonedownside_2027q3_commission_fees
/operating_model/cells/downside_2027q3_commission_fees:downside/kindNonederived
/operating_model/cells/downside_2027q3_commission_fees:downside/labelNonecommission fee revenue
/operating_model/cells/downside_2027q3_commission_fees:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_commission_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_commission_fees:downside/valueNone239.79375000000002
/operating_model/cells/downside_2027q3_commission_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_commission_share:downside/caseNonedownside
/operating_model/cells/downside_2027q3_commission_share:downside/idNonedownside_2027q3_commission_share
/operating_model/cells/downside_2027q3_commission_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_commission_share:downside/labelNonePrecontracted commissioning share
/operating_model/cells/downside_2027q3_commission_share:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_commission_share:downside/unitNoneratio
/operating_model/cells/downside_2027q3_commission_share:downside/valueNone0.1
/operating_model/cells/downside_2027q3_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2027q3_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2027q3_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2027q3_common_dividends:downside/formula/refs/1Nonedownside_2027q3_dividend_share_factor
/operating_model/cells/downside_2027q3_common_dividends:downside/formula/refs/2Nonedownside_2027q3_dividend_factor
/operating_model/cells/downside_2027q3_common_dividends:downside/idNonedownside_2027q3_common_dividends
/operating_model/cells/downside_2027q3_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2027q3_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2027q3_common_dividends:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_common_dividends:downside/valueNone100.48371404
/operating_model/cells/downside_2027q3_cost_budget:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cost_budget:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cost_budget:downside/idNonedownside_2027q3_cost_budget
/operating_model/cells/downside_2027q3_cost_budget:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cost_budget:downside/labelNoneOperating cost/contribution budget
/operating_model/cells/downside_2027q3_cost_budget:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cost_budget:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cost_budget:downside/valueNone700.0
/operating_model/cells/downside_2027q3_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cost_factor:downside/idNonedownside_2027q3_cost_factor
/operating_model/cells/downside_2027q3_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cost_factor:downside/labelNoneCost execution stress
/operating_model/cells/downside_2027q3_cost_factor:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q3_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2027q3_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_da:downside/caseNonedownside
/operating_model/cells/downside_2027q3_da:downside/idNonedownside_2027q3_da
/operating_model/cells/downside_2027q3_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2027q3_da:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_da:downside/valueNone355.0
/operating_model/cells/downside_2027q3_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2027q3_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2027q3_debt_principal:downside/idNonedownside_2027q3_debt_principal
/operating_model/cells/downside_2027q3_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2027q3_debt_principal:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_debt_principal:downside/valueNone150.0
/operating_model/cells/downside_2027q3_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2027q3_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q3_dividend_factor:downside/idNonedownside_2027q3_dividend_factor
/operating_model/cells/downside_2027q3_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2027q3_dividend_factor:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q3_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/formula/refs/0Nonedownside_2027q3_shares
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/idNonedownside_2027q3_dividend_share_factor
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q3_dividend_share_factor:downside/valueNone1.004799821732701
/operating_model/cells/downside_2027q3_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2027q3_fcf:downside/caseNonedownside
/operating_model/cells/downside_2027q3_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_fcf:downside/formula/refs/0Nonedownside_2027q3_cfo
/operating_model/cells/downside_2027q3_fcf:downside/formula/refs/1Nonedownside_2027q3_capex
/operating_model/cells/downside_2027q3_fcf:downside/idNonedownside_2027q3_fcf
/operating_model/cells/downside_2027q3_fcf:downside/kindNonederived
/operating_model/cells/downside_2027q3_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2027q3_fcf:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_fcf:downside/valueNone-3569.3509375000003
/operating_model/cells/downside_2027q3_fee_revenue:downside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/downside_2027q3_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_fee_revenue:downside/formula/refs/0Nonedownside_2027q3_spa_fees
/operating_model/cells/downside_2027q3_fee_revenue:downside/formula/refs/1Nonedownside_2027q3_commission_fees
/operating_model/cells/downside_2027q3_fee_revenue:downside/formula/refs/2Nonedownside_2027q3_merchant_fees
/operating_model/cells/downside_2027q3_fee_revenue:downside/idNonedownside_2027q3_fee_revenue
/operating_model/cells/downside_2027q3_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q3_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2027q3_fee_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_fee_revenue:downside/valueNone1570.6490625
/operating_model/cells/downside_2027q3_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2027q3_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2027q3_feed_gas:downside/idNonedownside_2027q3_feed_gas
/operating_model/cells/downside_2027q3_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2027q3_feed_gas:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_feed_gas:downside/valueNone3.5
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/formula/refs/0Nonedownside_2027q3_volume
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/formula/refs/1Nonedownside_2027q3_feed_gas
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/idNonedownside_2027q3_feed_gas_recovery
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_feed_gas_recovery:downside/valueNone1678.5562499999999
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/idNonedownside_2027q3_legal_cash_stress
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_legal_cash_stress:downside/valueNone0.0
/operating_model/cells/downside_2027q3_merchant_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q3_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q3_merchant_fee:downside/idNonedownside_2027q3_merchant_fee
/operating_model/cells/downside_2027q3_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_merchant_fee:downside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/downside_2027q3_merchant_fee:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_merchant_fee:downside/valueNone6.0
/operating_model/cells/downside_2027q3_merchant_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q3_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q3_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_merchant_fees:downside/formula/refs/0Nonedownside_2027q3_volume
/operating_model/cells/downside_2027q3_merchant_fees:downside/formula/refs/1Nonedownside_2027q3_merchant_share
/operating_model/cells/downside_2027q3_merchant_fees:downside/formula/refs/2Nonedownside_2027q3_merchant_fee
/operating_model/cells/downside_2027q3_merchant_fees:downside/idNonedownside_2027q3_merchant_fees
/operating_model/cells/downside_2027q3_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2027q3_merchant_fees:downside/labelNonemerchant fee revenue
/operating_model/cells/downside_2027q3_merchant_fees:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_merchant_fees:downside/valueNone431.6287500000001
/operating_model/cells/downside_2027q3_merchant_share:downside/basisNoneNo double-counted sales mix.
/operating_model/cells/downside_2027q3_merchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q3_merchant_share:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_merchant_share:downside/formula/refs/0Nonedownside_2027q3_one
/operating_model/cells/downside_2027q3_merchant_share:downside/formula/refs/1Nonedownside_2027q3_nonmerchant_share
/operating_model/cells/downside_2027q3_merchant_share:downside/idNonedownside_2027q3_merchant_share
/operating_model/cells/downside_2027q3_merchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q3_merchant_share:downside/labelNoneRemaining merchant volume share
/operating_model/cells/downside_2027q3_merchant_share:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_merchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q3_merchant_share:downside/valueNone0.15000000000000002
/operating_model/cells/downside_2027q3_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q3_nci_cash:downside/idNonedownside_2027q3_nci_cash
/operating_model/cells/downside_2027q3_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2027q3_nci_cash:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_nci_cash:downside/valueNone45.0
/operating_model/cells/downside_2027q3_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2027q3_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2027q3_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_noncash_deductions:downside/formula/refs/0Nonedownside_2027q3_da
/operating_model/cells/downside_2027q3_noncash_deductions:downside/formula/refs/1Nonedownside_2027q3_sbc
/operating_model/cells/downside_2027q3_noncash_deductions:downside/formula/refs/2Nonedownside_2027q3_other_adjustments
/operating_model/cells/downside_2027q3_noncash_deductions:downside/idNonedownside_2027q3_noncash_deductions
/operating_model/cells/downside_2027q3_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2027q3_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2027q3_noncash_deductions:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_noncash_deductions:downside/valueNone383.0
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/basisNoneMutually exclusive price buckets.
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/formula/refs/0Nonedownside_2027q3_spa_share
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/formula/refs/1Nonedownside_2027q3_commission_share
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/idNonedownside_2027q3_nonmerchant_share
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q3_nonmerchant_share:downside/valueNone0.85
/operating_model/cells/downside_2027q3_one:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_one:downside/caseNonedownside
/operating_model/cells/downside_2027q3_one:downside/idNonedownside_2027q3_one
/operating_model/cells/downside_2027q3_one:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_one:downside/labelNoneAll recognized volume
/operating_model/cells/downside_2027q3_one:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_one:downside/unitNoneratio
/operating_model/cells/downside_2027q3_one:downside/valueNone1.0
/operating_model/cells/downside_2027q3_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2027q3_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q3_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/0Nonedownside_2027q3_adj_ebitda
/operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/1Nonedownside_2027q3_noncash_deductions
/operating_model/cells/downside_2027q3_operating_income:downside/idNonedownside_2027q3_operating_income
/operating_model/cells/downside_2027q3_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q3_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2027q3_operating_income:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_operating_income:downside/valueNone417.6490624999998
/operating_model/cells/downside_2027q3_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2027q3_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2027q3_other_adjustments:downside/idNonedownside_2027q3_other_adjustments
/operating_model/cells/downside_2027q3_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2027q3_other_adjustments:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_other_adjustments:downside/valueNone5.0
/operating_model/cells/downside_2027q3_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2027q3_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2027q3_preferred_redemption:downside/idNonedownside_2027q3_preferred_redemption
/operating_model/cells/downside_2027q3_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2027q3_preferred_redemption:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2027q3_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2027q3_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_revenue:downside/formula/refs/0Nonedownside_2027q3_fee_revenue
/operating_model/cells/downside_2027q3_revenue:downside/formula/refs/1Nonedownside_2027q3_feed_gas_recovery
/operating_model/cells/downside_2027q3_revenue:downside/idNonedownside_2027q3_revenue
/operating_model/cells/downside_2027q3_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q3_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2027q3_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_revenue:downside/valueNone3249.2053124999998
/operating_model/cells/downside_2027q3_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q3_sbc:downside/idNonedownside_2027q3_sbc
/operating_model/cells/downside_2027q3_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2027q3_sbc:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_sbc:downside/valueNone23.0
/operating_model/cells/downside_2027q3_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2027q3_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q3_series_a_cash:downside/idNonedownside_2027q3_series_a_cash
/operating_model/cells/downside_2027q3_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2027q3_series_a_cash:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_series_a_cash:downside/valueNone135.0
/operating_model/cells/downside_2027q3_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2027q3_share_growth:downside/idNonedownside_2027q3_share_growth
/operating_model/cells/downside_2027q3_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2027q3_share_growth:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q3_share_growth:downside/valueNone12.0
/operating_model/cells/downside_2027q3_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2027q3_shares:downside/caseNonedownside
/operating_model/cells/downside_2027q3_shares:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2027q3_shares:downside/formula/refs/1Nonedownside_2027q3_share_growth
/operating_model/cells/downside_2027q3_shares:downside/idNonedownside_2027q3_shares
/operating_model/cells/downside_2027q3_shares:downside/kindNonederived
/operating_model/cells/downside_2027q3_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2027q3_shares:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q3_shares:downside/valueNone2512.092851
/operating_model/cells/downside_2027q3_spa_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q3_spa_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q3_spa_fee:downside/idNonedownside_2027q3_spa_fee
/operating_model/cells/downside_2027q3_spa_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_spa_fee:downside/labelNonespa fee revenue per TBtu
/operating_model/cells/downside_2027q3_spa_fee:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_spa_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_spa_fee:downside/valueNone2.5
/operating_model/cells/downside_2027q3_spa_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q3_spa_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q3_spa_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_spa_fees:downside/formula/refs/0Nonedownside_2027q3_volume
/operating_model/cells/downside_2027q3_spa_fees:downside/formula/refs/1Nonedownside_2027q3_spa_share
/operating_model/cells/downside_2027q3_spa_fees:downside/formula/refs/2Nonedownside_2027q3_spa_fee
/operating_model/cells/downside_2027q3_spa_fees:downside/idNonedownside_2027q3_spa_fees
/operating_model/cells/downside_2027q3_spa_fees:downside/kindNonederived
/operating_model/cells/downside_2027q3_spa_fees:downside/labelNonespa fee revenue
/operating_model/cells/downside_2027q3_spa_fees:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_spa_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_spa_fees:downside/valueNone899.2265624999999
/operating_model/cells/downside_2027q3_spa_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_spa_share:downside/caseNonedownside
/operating_model/cells/downside_2027q3_spa_share:downside/idNonedownside_2027q3_spa_share
/operating_model/cells/downside_2027q3_spa_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_spa_share:downside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/downside_2027q3_spa_share:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_spa_share:downside/unitNoneratio
/operating_model/cells/downside_2027q3_spa_share:downside/valueNone0.75
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/formula/refs/0Nonedownside_2027q3_series_a_cash
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/formula/refs/1Nonedownside_2027q3_nci_cash
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/idNonedownside_2027q3_subsidiary_distributions
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_subsidiary_distributions:downside/valueNone180.0
/operating_model/cells/downside_2027q3_volume:downside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/downside_2027q3_volume:downside/caseNonedownside
/operating_model/cells/downside_2027q3_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_volume:downside/formula/refs/0Nonedownside_2027q3_cargos
/operating_model/cells/downside_2027q3_volume:downside/formula/refs/1Nonecargo_size
/operating_model/cells/downside_2027q3_volume:downside/formula/refs/2Nonesales_timing
/operating_model/cells/downside_2027q3_volume:downside/idNonedownside_2027q3_volume
/operating_model/cells/downside_2027q3_volume:downside/kindNonederived
/operating_model/cells/downside_2027q3_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2027q3_volume:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_volume:downside/unitNoneratio
/operating_model/cells/downside_2027q3_volume:downside/valueNone479.5875
/operating_model/cells/downside_2027q3_volume_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_volume_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q3_volume_factor:downside/idNonedownside_2027q3_volume_factor
/operating_model/cells/downside_2027q3_volume_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_volume_factor:downside/labelNoneCargo delivery factor
/operating_model/cells/downside_2027q3_volume_factor:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_volume_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q3_volume_factor:downside/valueNone0.9
/operating_model/cells/downside_2027q3_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2027q3_wc_use:downside/idNonedownside_2027q3_wc_use
/operating_model/cells/downside_2027q3_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2027q3_wc_use:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_wc_use:downside/valueNone200.0
/operating_model/cells/downside_2027q4_adj_ebitda:downside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/downside_2027q4_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_2027q4_adj_ebitda:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_adj_ebitda:downside/formula/refs/0Nonedownside_2027q4_fee_revenue
/operating_model/cells/downside_2027q4_adj_ebitda:downside/formula/refs/1Nonedownside_2027q4_cash_costs
/operating_model/cells/downside_2027q4_adj_ebitda:downside/idNonedownside_2027q4_adj_ebitda
/operating_model/cells/downside_2027q4_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_2027q4_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/downside_2027q4_adj_ebitda:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_adj_ebitda:downside/valueNone843.0199999999999
/operating_model/cells/downside_2027q4_capex:downside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/downside_2027q4_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q4_capex:downside/idNonedownside_2027q4_capex
/operating_model/cells/downside_2027q4_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_capex:downside/labelNoneGross cash construction and other capex
/operating_model/cells/downside_2027q4_capex:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_capex:downside/valueNone3200.0
/operating_model/cells/downside_2027q4_cargo_baseline:downside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/downside_2027q4_cargo_baseline:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cargo_baseline:downside/idNonedownside_2027q4_cargo_baseline
/operating_model/cells/downside_2027q4_cargo_baseline:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cargo_baseline:downside/labelNoneStandalone project export-cargo plan
/operating_model/cells/downside_2027q4_cargo_baseline:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cargo_baseline:downside/unitNoneratio
/operating_model/cells/downside_2027q4_cargo_baseline:downside/valueNone160.0
/operating_model/cells/downside_2027q4_cargos:downside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/downside_2027q4_cargos:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cargos:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_cargos:downside/formula/refs/0Nonedownside_2027q4_cargo_baseline
/operating_model/cells/downside_2027q4_cargos:downside/formula/refs/1Nonedownside_2027q4_volume_factor
/operating_model/cells/downside_2027q4_cargos:downside/idNonedownside_2027q4_cargos
/operating_model/cells/downside_2027q4_cargos:downside/kindNonederived
/operating_model/cells/downside_2027q4_cargos:downside/labelNoneExported cargos
/operating_model/cells/downside_2027q4_cargos:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cargos:downside/unitNoneratio
/operating_model/cells/downside_2027q4_cargos:downside/valueNone144.0
/operating_model/cells/downside_2027q4_cash_after_claims:downside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/downside_2027q4_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_after_claims:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_cash_after_claims:downside/formula/refs/0Nonedownside_2027q4_fcf
/operating_model/cells/downside_2027q4_cash_after_claims:downside/formula/refs/1Nonedownside_2027q4_claims
/operating_model/cells/downside_2027q4_cash_after_claims:downside/idNonedownside_2027q4_cash_after_claims
/operating_model/cells/downside_2027q4_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_2027q4_cash_after_claims:downside/labelNoneCash after distributions and principal
/operating_model/cells/downside_2027q4_cash_after_claims:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_after_claims:downside/valueNone-3997.58371404
/operating_model/cells/downside_2027q4_cash_costs:downside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/downside_2027q4_cash_costs:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_costs:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_cash_costs:downside/formula/refs/0Nonedownside_2027q4_cost_budget
/operating_model/cells/downside_2027q4_cash_costs:downside/formula/refs/1Nonedownside_2027q4_cost_factor
/operating_model/cells/downside_2027q4_cash_costs:downside/idNonedownside_2027q4_cash_costs
/operating_model/cells/downside_2027q4_cash_costs:downside/kindNonederived
/operating_model/cells/downside_2027q4_cash_costs:downside/labelNoneOperating costs net of other contribution
/operating_model/cells/downside_2027q4_cash_costs:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_costs:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_costs:downside/valueNone797.5000000000001
/operating_model/cells/downside_2027q4_cash_interest:downside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/downside_2027q4_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_interest:downside/idNonedownside_2027q4_cash_interest
/operating_model/cells/downside_2027q4_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_interest:downside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/downside_2027q4_cash_interest:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_interest:downside/valueNone575.0
/operating_model/cells/downside_2027q4_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_tax:downside/idNonedownside_2027q4_cash_tax
/operating_model/cells/downside_2027q4_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_tax:downside/labelNoneCash taxes
/operating_model/cells/downside_2027q4_cash_tax:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_tax:downside/valueNone120.0
/operating_model/cells/downside_2027q4_cfo:downside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/downside_2027q4_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_cfo:downside/formula/refs/0Nonedownside_2027q4_adj_ebitda
/operating_model/cells/downside_2027q4_cfo:downside/formula/refs/1Nonedownside_2027q4_cfo_uses
/operating_model/cells/downside_2027q4_cfo:downside/idNonedownside_2027q4_cfo
/operating_model/cells/downside_2027q4_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q4_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q4_cfo:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cfo:downside/valueNone-501.98000000000013
/operating_model/cells/downside_2027q4_cfo_uses:downside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/downside_2027q4_cfo_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cfo_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_cfo_uses:downside/formula/refs/0Nonedownside_2027q4_cash_interest
/operating_model/cells/downside_2027q4_cfo_uses:downside/formula/refs/1Nonedownside_2027q4_cash_tax
/operating_model/cells/downside_2027q4_cfo_uses:downside/formula/refs/2Nonedownside_2027q4_wc_use
/operating_model/cells/downside_2027q4_cfo_uses:downside/formula/refs/3Nonedownside_2027q4_legal_cash_stress
/operating_model/cells/downside_2027q4_cfo_uses:downside/idNonedownside_2027q4_cfo_uses
/operating_model/cells/downside_2027q4_cfo_uses:downside/kindNonederived
/operating_model/cells/downside_2027q4_cfo_uses:downside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/downside_2027q4_cfo_uses:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cfo_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cfo_uses:downside/valueNone1345.0
/operating_model/cells/downside_2027q4_claims:downside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/downside_2027q4_claims:downside/caseNonedownside
/operating_model/cells/downside_2027q4_claims:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_claims:downside/formula/refs/0Nonedownside_2027q4_subsidiary_distributions
/operating_model/cells/downside_2027q4_claims:downside/formula/refs/1Nonedownside_2027q4_common_dividends
/operating_model/cells/downside_2027q4_claims:downside/formula/refs/2Nonedownside_2027q4_preferred_redemption
/operating_model/cells/downside_2027q4_claims:downside/formula/refs/3Nonedownside_2027q4_debt_principal
/operating_model/cells/downside_2027q4_claims:downside/idNonedownside_2027q4_claims
/operating_model/cells/downside_2027q4_claims:downside/kindNonederived
/operating_model/cells/downside_2027q4_claims:downside/labelNoneDistributions redemption and principal
/operating_model/cells/downside_2027q4_claims:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_claims:downside/valueNone295.60371404
/operating_model/cells/downside_2027q4_commission_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q4_commission_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q4_commission_fee:downside/idNonedownside_2027q4_commission_fee
/operating_model/cells/downside_2027q4_commission_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_commission_fee:downside/labelNonecommission fee revenue per TBtu
/operating_model/cells/downside_2027q4_commission_fee:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_commission_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_commission_fee:downside/valueNone5.0
/operating_model/cells/downside_2027q4_commission_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q4_commission_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q4_commission_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_commission_fees:downside/formula/refs/0Nonedownside_2027q4_volume
/operating_model/cells/downside_2027q4_commission_fees:downside/formula/refs/1Nonedownside_2027q4_commission_share
/operating_model/cells/downside_2027q4_commission_fees:downside/formula/refs/2Nonedownside_2027q4_commission_fee
/operating_model/cells/downside_2027q4_commission_fees:downside/idNonedownside_2027q4_commission_fees
/operating_model/cells/downside_2027q4_commission_fees:downside/kindNonederived
/operating_model/cells/downside_2027q4_commission_fees:downside/labelNonecommission fee revenue
/operating_model/cells/downside_2027q4_commission_fees:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_commission_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_commission_fees:downside/valueNone264.6
/operating_model/cells/downside_2027q4_commission_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_commission_share:downside/caseNonedownside
/operating_model/cells/downside_2027q4_commission_share:downside/idNonedownside_2027q4_commission_share
/operating_model/cells/downside_2027q4_commission_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_commission_share:downside/labelNonePrecontracted commissioning share
/operating_model/cells/downside_2027q4_commission_share:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_commission_share:downside/unitNoneratio
/operating_model/cells/downside_2027q4_commission_share:downside/valueNone0.1
/operating_model/cells/downside_2027q4_common_dividends:downside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/downside_2027q4_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_2027q4_common_dividends:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_common_dividends:downside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/downside_2027q4_common_dividends:downside/formula/refs/1Nonedownside_2027q4_dividend_share_factor
/operating_model/cells/downside_2027q4_common_dividends:downside/formula/refs/2Nonedownside_2027q4_dividend_factor
/operating_model/cells/downside_2027q4_common_dividends:downside/idNonedownside_2027q4_common_dividends
/operating_model/cells/downside_2027q4_common_dividends:downside/kindNonederived
/operating_model/cells/downside_2027q4_common_dividends:downside/labelNoneCommon cash dividends
/operating_model/cells/downside_2027q4_common_dividends:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_common_dividends:downside/valueNone100.60371404
/operating_model/cells/downside_2027q4_cost_budget:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cost_budget:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cost_budget:downside/idNonedownside_2027q4_cost_budget
/operating_model/cells/downside_2027q4_cost_budget:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cost_budget:downside/labelNoneOperating cost/contribution budget
/operating_model/cells/downside_2027q4_cost_budget:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cost_budget:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cost_budget:downside/valueNone725.0
/operating_model/cells/downside_2027q4_cost_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cost_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cost_factor:downside/idNonedownside_2027q4_cost_factor
/operating_model/cells/downside_2027q4_cost_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cost_factor:downside/labelNoneCost execution stress
/operating_model/cells/downside_2027q4_cost_factor:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cost_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q4_cost_factor:downside/valueNone1.1
/operating_model/cells/downside_2027q4_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_da:downside/caseNonedownside
/operating_model/cells/downside_2027q4_da:downside/idNonedownside_2027q4_da
/operating_model/cells/downside_2027q4_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_da:downside/labelNoneDepreciation and amortization
/operating_model/cells/downside_2027q4_da:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_da:downside/valueNone375.0
/operating_model/cells/downside_2027q4_debt_principal:downside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/downside_2027q4_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_2027q4_debt_principal:downside/idNonedownside_2027q4_debt_principal
/operating_model/cells/downside_2027q4_debt_principal:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_debt_principal:downside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/downside_2027q4_debt_principal:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_debt_principal:downside/valueNone150.0
/operating_model/cells/downside_2027q4_dividend_factor:downside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/downside_2027q4_dividend_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q4_dividend_factor:downside/idNonedownside_2027q4_dividend_factor
/operating_model/cells/downside_2027q4_dividend_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_dividend_factor:downside/labelNoneDividend rate relative to September declaration
/operating_model/cells/downside_2027q4_dividend_factor:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_dividend_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q4_dividend_factor:downside/valueNone1.0
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/formula/opNonedivide
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/formula/refs/0Nonedownside_2027q4_shares
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/formula/refs/1Nonecommon_shares
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/idNonedownside_2027q4_dividend_share_factor
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/kindNonederived
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/labelNoneShares relative to July baseline
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q4_dividend_share_factor:downside/valueNone1.0059997771658762
/operating_model/cells/downside_2027q4_fcf:downside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/downside_2027q4_fcf:downside/caseNonedownside
/operating_model/cells/downside_2027q4_fcf:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_fcf:downside/formula/refs/0Nonedownside_2027q4_cfo
/operating_model/cells/downside_2027q4_fcf:downside/formula/refs/1Nonedownside_2027q4_capex
/operating_model/cells/downside_2027q4_fcf:downside/idNonedownside_2027q4_fcf
/operating_model/cells/downside_2027q4_fcf:downside/kindNonederived
/operating_model/cells/downside_2027q4_fcf:downside/labelNoneCFO less cash capex
/operating_model/cells/downside_2027q4_fcf:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_fcf:downside/valueNone-3701.98
/operating_model/cells/downside_2027q4_fee_revenue:downside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/downside_2027q4_fee_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_fee_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_fee_revenue:downside/formula/refs/0Nonedownside_2027q4_spa_fees
/operating_model/cells/downside_2027q4_fee_revenue:downside/formula/refs/1Nonedownside_2027q4_commission_fees
/operating_model/cells/downside_2027q4_fee_revenue:downside/formula/refs/2Nonedownside_2027q4_merchant_fees
/operating_model/cells/downside_2027q4_fee_revenue:downside/idNonedownside_2027q4_fee_revenue
/operating_model/cells/downside_2027q4_fee_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q4_fee_revenue:downside/labelNoneLNG fee revenue
/operating_model/cells/downside_2027q4_fee_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_fee_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_fee_revenue:downside/valueNone1640.52
/operating_model/cells/downside_2027q4_feed_gas:downside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/downside_2027q4_feed_gas:downside/caseNonedownside
/operating_model/cells/downside_2027q4_feed_gas:downside/idNonedownside_2027q4_feed_gas
/operating_model/cells/downside_2027q4_feed_gas:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_feed_gas:downside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/downside_2027q4_feed_gas:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_feed_gas:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_feed_gas:downside/valueNone3.5
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/caseNonedownside
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/formula/refs/0Nonedownside_2027q4_volume
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/formula/refs/1Nonedownside_2027q4_feed_gas
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/idNonedownside_2027q4_feed_gas_recovery
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/kindNonederived
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/labelNoneFeed gas recovery revenue
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_feed_gas_recovery:downside/valueNone1852.2000000000003
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/caseNonedownside
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/idNonedownside_2027q4_legal_cash_stress
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/labelNoneAdditional litigation cash stress
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_legal_cash_stress:downside/valueNone500.0
/operating_model/cells/downside_2027q4_merchant_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q4_merchant_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q4_merchant_fee:downside/idNonedownside_2027q4_merchant_fee
/operating_model/cells/downside_2027q4_merchant_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_merchant_fee:downside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/downside_2027q4_merchant_fee:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_merchant_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_merchant_fee:downside/valueNone6.0
/operating_model/cells/downside_2027q4_merchant_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q4_merchant_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q4_merchant_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_merchant_fees:downside/formula/refs/0Nonedownside_2027q4_volume
/operating_model/cells/downside_2027q4_merchant_fees:downside/formula/refs/1Nonedownside_2027q4_merchant_share
/operating_model/cells/downside_2027q4_merchant_fees:downside/formula/refs/2Nonedownside_2027q4_merchant_fee
/operating_model/cells/downside_2027q4_merchant_fees:downside/idNonedownside_2027q4_merchant_fees
/operating_model/cells/downside_2027q4_merchant_fees:downside/kindNonederived
/operating_model/cells/downside_2027q4_merchant_fees:downside/labelNonemerchant fee revenue
/operating_model/cells/downside_2027q4_merchant_fees:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_merchant_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_merchant_fees:downside/valueNone317.52
/operating_model/cells/downside_2027q4_merchant_share:downside/basisNoneNo double-counted sales mix.
/operating_model/cells/downside_2027q4_merchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q4_merchant_share:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_merchant_share:downside/formula/refs/0Nonedownside_2027q4_one
/operating_model/cells/downside_2027q4_merchant_share:downside/formula/refs/1Nonedownside_2027q4_nonmerchant_share
/operating_model/cells/downside_2027q4_merchant_share:downside/idNonedownside_2027q4_merchant_share
/operating_model/cells/downside_2027q4_merchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q4_merchant_share:downside/labelNoneRemaining merchant volume share
/operating_model/cells/downside_2027q4_merchant_share:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_merchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q4_merchant_share:downside/valueNone0.09999999999999998
/operating_model/cells/downside_2027q4_nci_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_nci_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q4_nci_cash:downside/idNonedownside_2027q4_nci_cash
/operating_model/cells/downside_2027q4_nci_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_nci_cash:downside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/downside_2027q4_nci_cash:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_nci_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_nci_cash:downside/valueNone45.0
/operating_model/cells/downside_2027q4_noncash_deductions:downside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/downside_2027q4_noncash_deductions:downside/caseNonedownside
/operating_model/cells/downside_2027q4_noncash_deductions:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_noncash_deductions:downside/formula/refs/0Nonedownside_2027q4_da
/operating_model/cells/downside_2027q4_noncash_deductions:downside/formula/refs/1Nonedownside_2027q4_sbc
/operating_model/cells/downside_2027q4_noncash_deductions:downside/formula/refs/2Nonedownside_2027q4_other_adjustments
/operating_model/cells/downside_2027q4_noncash_deductions:downside/idNonedownside_2027q4_noncash_deductions
/operating_model/cells/downside_2027q4_noncash_deductions:downside/kindNonederived
/operating_model/cells/downside_2027q4_noncash_deductions:downside/labelNoneD&A equity expense and other deductions
/operating_model/cells/downside_2027q4_noncash_deductions:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_noncash_deductions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_noncash_deductions:downside/valueNone405.0
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/basisNoneMutually exclusive price buckets.
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/caseNonedownside
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/formula/refs/0Nonedownside_2027q4_spa_share
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/formula/refs/1Nonedownside_2027q4_commission_share
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/idNonedownside_2027q4_nonmerchant_share
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/kindNonederived
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/unitNoneratio
/operating_model/cells/downside_2027q4_nonmerchant_share:downside/valueNone0.9
/operating_model/cells/downside_2027q4_one:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_one:downside/caseNonedownside
/operating_model/cells/downside_2027q4_one:downside/idNonedownside_2027q4_one
/operating_model/cells/downside_2027q4_one:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_one:downside/labelNoneAll recognized volume
/operating_model/cells/downside_2027q4_one:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_one:downside/unitNoneratio
/operating_model/cells/downside_2027q4_one:downside/valueNone1.0
/operating_model/cells/downside_2027q4_operating_income:downside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/downside_2027q4_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q4_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/0Nonedownside_2027q4_adj_ebitda
/operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/1Nonedownside_2027q4_noncash_deductions
/operating_model/cells/downside_2027q4_operating_income:downside/idNonedownside_2027q4_operating_income
/operating_model/cells/downside_2027q4_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q4_operating_income:downside/labelNoneGAAP operating income proxy
/operating_model/cells/downside_2027q4_operating_income:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_operating_income:downside/valueNone438.01999999999987
/operating_model/cells/downside_2027q4_other_adjustments:downside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/downside_2027q4_other_adjustments:downside/caseNonedownside
/operating_model/cells/downside_2027q4_other_adjustments:downside/idNonedownside_2027q4_other_adjustments
/operating_model/cells/downside_2027q4_other_adjustments:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_other_adjustments:downside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/downside_2027q4_other_adjustments:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_other_adjustments:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_other_adjustments:downside/valueNone5.0
/operating_model/cells/downside_2027q4_preferred_redemption:downside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/downside_2027q4_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_2027q4_preferred_redemption:downside/idNonedownside_2027q4_preferred_redemption
/operating_model/cells/downside_2027q4_preferred_redemption:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_preferred_redemption:downside/labelNoneCP Funding preferred redemption
/operating_model/cells/downside_2027q4_preferred_redemption:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_2027q4_revenue:downside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/downside_2027q4_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_revenue:downside/formula/refs/0Nonedownside_2027q4_fee_revenue
/operating_model/cells/downside_2027q4_revenue:downside/formula/refs/1Nonedownside_2027q4_feed_gas_recovery
/operating_model/cells/downside_2027q4_revenue:downside/idNonedownside_2027q4_revenue
/operating_model/cells/downside_2027q4_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q4_revenue:downside/labelNoneConsolidated revenue proxy
/operating_model/cells/downside_2027q4_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_revenue:downside/valueNone3492.7200000000003
/operating_model/cells/downside_2027q4_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q4_sbc:downside/idNonedownside_2027q4_sbc
/operating_model/cells/downside_2027q4_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_sbc:downside/labelNoneStock compensation
/operating_model/cells/downside_2027q4_sbc:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_sbc:downside/valueNone25.0
/operating_model/cells/downside_2027q4_series_a_cash:downside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/downside_2027q4_series_a_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q4_series_a_cash:downside/idNonedownside_2027q4_series_a_cash
/operating_model/cells/downside_2027q4_series_a_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_series_a_cash:downside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/downside_2027q4_series_a_cash:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_series_a_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_series_a_cash:downside/valueNone0.0
/operating_model/cells/downside_2027q4_share_growth:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_share_growth:downside/caseNonedownside
/operating_model/cells/downside_2027q4_share_growth:downside/idNonedownside_2027q4_share_growth
/operating_model/cells/downside_2027q4_share_growth:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_share_growth:downside/labelNoneAdditional common shares since July
/operating_model/cells/downside_2027q4_share_growth:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_share_growth:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q4_share_growth:downside/valueNone15.0
/operating_model/cells/downside_2027q4_shares:downside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/downside_2027q4_shares:downside/caseNonedownside
/operating_model/cells/downside_2027q4_shares:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_shares:downside/formula/refs/0Nonecommon_shares
/operating_model/cells/downside_2027q4_shares:downside/formula/refs/1Nonedownside_2027q4_share_growth
/operating_model/cells/downside_2027q4_shares:downside/idNonedownside_2027q4_shares
/operating_model/cells/downside_2027q4_shares:downside/kindNonederived
/operating_model/cells/downside_2027q4_shares:downside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/downside_2027q4_shares:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_shares:downside/unitNoneshares_millions
/operating_model/cells/downside_2027q4_shares:downside/valueNone2515.092851
/operating_model/cells/downside_2027q4_spa_fee:downside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/downside_2027q4_spa_fee:downside/caseNonedownside
/operating_model/cells/downside_2027q4_spa_fee:downside/idNonedownside_2027q4_spa_fee
/operating_model/cells/downside_2027q4_spa_fee:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_spa_fee:downside/labelNonespa fee revenue per TBtu
/operating_model/cells/downside_2027q4_spa_fee:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_spa_fee:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_spa_fee:downside/valueNone2.5
/operating_model/cells/downside_2027q4_spa_fees:downside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/downside_2027q4_spa_fees:downside/caseNonedownside
/operating_model/cells/downside_2027q4_spa_fees:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_spa_fees:downside/formula/refs/0Nonedownside_2027q4_volume
/operating_model/cells/downside_2027q4_spa_fees:downside/formula/refs/1Nonedownside_2027q4_spa_share
/operating_model/cells/downside_2027q4_spa_fees:downside/formula/refs/2Nonedownside_2027q4_spa_fee
/operating_model/cells/downside_2027q4_spa_fees:downside/idNonedownside_2027q4_spa_fees
/operating_model/cells/downside_2027q4_spa_fees:downside/kindNonederived
/operating_model/cells/downside_2027q4_spa_fees:downside/labelNonespa fee revenue
/operating_model/cells/downside_2027q4_spa_fees:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_spa_fees:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_spa_fees:downside/valueNone1058.4
/operating_model/cells/downside_2027q4_spa_share:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_spa_share:downside/caseNonedownside
/operating_model/cells/downside_2027q4_spa_share:downside/idNonedownside_2027q4_spa_share
/operating_model/cells/downside_2027q4_spa_share:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_spa_share:downside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/downside_2027q4_spa_share:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_spa_share:downside/unitNoneratio
/operating_model/cells/downside_2027q4_spa_share:downside/valueNone0.8
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/formula/refs/0Nonedownside_2027q4_series_a_cash
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/formula/refs/1Nonedownside_2027q4_nci_cash
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/idNonedownside_2027q4_subsidiary_distributions
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_subsidiary_distributions:downside/valueNone45.0
/operating_model/cells/downside_2027q4_volume:downside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/downside_2027q4_volume:downside/caseNonedownside
/operating_model/cells/downside_2027q4_volume:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_volume:downside/formula/refs/0Nonedownside_2027q4_cargos
/operating_model/cells/downside_2027q4_volume:downside/formula/refs/1Nonecargo_size
/operating_model/cells/downside_2027q4_volume:downside/formula/refs/2Nonesales_timing
/operating_model/cells/downside_2027q4_volume:downside/idNonedownside_2027q4_volume
/operating_model/cells/downside_2027q4_volume:downside/kindNonederived
/operating_model/cells/downside_2027q4_volume:downside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/downside_2027q4_volume:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_volume:downside/unitNoneratio
/operating_model/cells/downside_2027q4_volume:downside/valueNone529.2
/operating_model/cells/downside_2027q4_volume_factor:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_volume_factor:downside/caseNonedownside
/operating_model/cells/downside_2027q4_volume_factor:downside/idNonedownside_2027q4_volume_factor
/operating_model/cells/downside_2027q4_volume_factor:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_volume_factor:downside/labelNoneCargo delivery factor
/operating_model/cells/downside_2027q4_volume_factor:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_volume_factor:downside/unitNoneratio
/operating_model/cells/downside_2027q4_volume_factor:downside/valueNone0.9
/operating_model/cells/downside_2027q4_wc_use:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_wc_use:downside/caseNonedownside
/operating_model/cells/downside_2027q4_wc_use:downside/idNonedownside_2027q4_wc_use
/operating_model/cells/downside_2027q4_wc_use:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_wc_use:downside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/downside_2027q4_wc_use:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_wc_use:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_wc_use:downside/valueNone150.0
/operating_model/cells/downside_fy2026_adj_ebitda:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_fy2026_adj_ebitda:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_adj_ebitda:downside/formula/refs/0Noneh1_adj_ebitda
/operating_model/cells/downside_fy2026_adj_ebitda:downside/formula/refs/1Nonedownside_2026q3_adj_ebitda
/operating_model/cells/downside_fy2026_adj_ebitda:downside/formula/refs/2Nonedownside_2026q4_adj_ebitda
/operating_model/cells/downside_fy2026_adj_ebitda:downside/idNonedownside_fy2026_adj_ebitda
/operating_model/cells/downside_fy2026_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_fy2026_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/downside_fy2026_adj_ebitda:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_adj_ebitda:downside/valueNone8099.141749999999
/operating_model/cells/downside_fy2026_capex:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_capex:downside/caseNonedownside
/operating_model/cells/downside_fy2026_capex:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/0Noneh1_capex
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/1Nonedownside_2026q3_capex
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/2Nonedownside_2026q4_capex
/operating_model/cells/downside_fy2026_capex:downside/idNonedownside_fy2026_capex
/operating_model/cells/downside_fy2026_capex:downside/kindNonederived
/operating_model/cells/downside_fy2026_capex:downside/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/downside_fy2026_capex:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_capex:downside/valueNone15100.0
/operating_model/cells/downside_fy2026_cash_after_claims:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_fy2026_cash_after_claims:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_cash_after_claims:downside/formula/refs/0Noneh1_cash_after_claims
/operating_model/cells/downside_fy2026_cash_after_claims:downside/formula/refs/1Nonedownside_2026q3_cash_after_claims
/operating_model/cells/downside_fy2026_cash_after_claims:downside/formula/refs/2Nonedownside_2026q4_cash_after_claims
/operating_model/cells/downside_fy2026_cash_after_claims:downside/idNonedownside_fy2026_cash_after_claims
/operating_model/cells/downside_fy2026_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_fy2026_cash_after_claims:downside/labelNoneCash after distributions and principal ($M)
/operating_model/cells/downside_fy2026_cash_after_claims:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_cash_after_claims:downside/valueNone-16353.98567808
/operating_model/cells/downside_fy2026_cfo:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_cfo:downside/caseNonedownside
/operating_model/cells/downside_fy2026_cfo:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/0Noneh1_cfo
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/1Nonedownside_2026q3_cfo
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/2Nonedownside_2026q4_cfo
/operating_model/cells/downside_fy2026_cfo:downside/idNonedownside_fy2026_cfo
/operating_model/cells/downside_fy2026_cfo:downside/kindNonederived
/operating_model/cells/downside_fy2026_cfo:downside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/downside_fy2026_cfo:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_cfo:downside/valueNone5446.141749999999
/operating_model/cells/downside_fy2026_common_dividends:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_fy2026_common_dividends:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_common_dividends:downside/formula/refs/0Noneh1_common_dividends
/operating_model/cells/downside_fy2026_common_dividends:downside/formula/refs/1Nonedownside_2026q3_common_dividends
/operating_model/cells/downside_fy2026_common_dividends:downside/formula/refs/2Nonedownside_2026q4_common_dividends
/operating_model/cells/downside_fy2026_common_dividends:downside/idNonedownside_fy2026_common_dividends
/operating_model/cells/downside_fy2026_common_dividends:downside/kindNonederived
/operating_model/cells/downside_fy2026_common_dividends:downside/labelNoneCommon cash dividends ($M)
/operating_model/cells/downside_fy2026_common_dividends:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_common_dividends:downside/valueNone289.12742807999996
/operating_model/cells/downside_fy2026_debt_principal:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_fy2026_debt_principal:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_debt_principal:downside/formula/refs/0Noneh1_debt_principal
/operating_model/cells/downside_fy2026_debt_principal:downside/formula/refs/1Nonedownside_2026q3_debt_principal
/operating_model/cells/downside_fy2026_debt_principal:downside/formula/refs/2Nonedownside_2026q4_debt_principal
/operating_model/cells/downside_fy2026_debt_principal:downside/idNonedownside_fy2026_debt_principal
/operating_model/cells/downside_fy2026_debt_principal:downside/kindNonederived
/operating_model/cells/downside_fy2026_debt_principal:downside/labelNoneDebt principal repayments ($M)
/operating_model/cells/downside_fy2026_debt_principal:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_debt_principal:downside/valueNone4243.0
/operating_model/cells/downside_fy2026_fcf:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_fcf:downside/caseNonedownside
/operating_model/cells/downside_fy2026_fcf:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_fcf:downside/formula/refs/0Noneh1_fcf
/operating_model/cells/downside_fy2026_fcf:downside/formula/refs/1Nonedownside_2026q3_fcf
/operating_model/cells/downside_fy2026_fcf:downside/formula/refs/2Nonedownside_2026q4_fcf
/operating_model/cells/downside_fy2026_fcf:downside/idNonedownside_fy2026_fcf
/operating_model/cells/downside_fy2026_fcf:downside/kindNonederived
/operating_model/cells/downside_fy2026_fcf:downside/labelNoneCFO less cash capex ($M)
/operating_model/cells/downside_fy2026_fcf:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_fcf:downside/valueNone-9653.858250000001
/operating_model/cells/downside_fy2026_operating_income:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_operating_income:downside/caseNonedownside
/operating_model/cells/downside_fy2026_operating_income:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/0Noneh1_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/1Nonedownside_2026q3_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/2Nonedownside_2026q4_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/idNonedownside_fy2026_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/kindNonederived
/operating_model/cells/downside_fy2026_operating_income:downside/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/downside_fy2026_operating_income:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_operating_income:downside/valueNone6973.141749999999
/operating_model/cells/downside_fy2026_preferred_redemption:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_fy2026_preferred_redemption:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_preferred_redemption:downside/formula/refs/0Noneh1_preferred_redemption
/operating_model/cells/downside_fy2026_preferred_redemption:downside/formula/refs/1Nonedownside_2026q3_preferred_redemption
/operating_model/cells/downside_fy2026_preferred_redemption:downside/formula/refs/2Nonedownside_2026q4_preferred_redemption
/operating_model/cells/downside_fy2026_preferred_redemption:downside/idNonedownside_fy2026_preferred_redemption
/operating_model/cells/downside_fy2026_preferred_redemption:downside/kindNonederived
/operating_model/cells/downside_fy2026_preferred_redemption:downside/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/downside_fy2026_preferred_redemption:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_preferred_redemption:downside/valueNone1743.0
/operating_model/cells/downside_fy2026_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2026_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/0Noneh1_revenue
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/1Nonedownside_2026q3_revenue
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/2Nonedownside_2026q4_revenue
/operating_model/cells/downside_fy2026_revenue:downside/idNonedownside_fy2026_revenue
/operating_model/cells/downside_fy2026_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2026_revenue:downside/labelNoneConsolidated revenue ($M)
/operating_model/cells/downside_fy2026_revenue:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_revenue:downside/valueNone18241.382250000002
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/formula/refs/0Noneh1_subsidiary_distributions
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/formula/refs/1Nonedownside_2026q3_subsidiary_distributions
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/formula/refs/2Nonedownside_2026q4_subsidiary_distributions
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/idNonedownside_fy2026_subsidiary_distributions
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_subsidiary_distributions:downside/valueNone425.0
/operating_model/cells/downside_fy2027_adj_ebitda:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_adj_ebitda:downside/caseNonedownside
/operating_model/cells/downside_fy2027_adj_ebitda:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_adj_ebitda:downside/formula/refs/0Nonedownside_2027q1_adj_ebitda
/operating_model/cells/downside_fy2027_adj_ebitda:downside/formula/refs/1Nonedownside_2027q2_adj_ebitda
/operating_model/cells/downside_fy2027_adj_ebitda:downside/formula/refs/2Nonedownside_2027q3_adj_ebitda
/operating_model/cells/downside_fy2027_adj_ebitda:downside/formula/refs/3Nonedownside_2027q4_adj_ebitda
/operating_model/cells/downside_fy2027_adj_ebitda:downside/idNonedownside_fy2027_adj_ebitda
/operating_model/cells/downside_fy2027_adj_ebitda:downside/kindNonederived
/operating_model/cells/downside_fy2027_adj_ebitda:downside/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/downside_fy2027_adj_ebitda:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_adj_ebitda:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_adj_ebitda:downside/valueNone3513.9274999999993
/operating_model/cells/downside_fy2027_capex:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_capex:downside/caseNonedownside
/operating_model/cells/downside_fy2027_capex:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/0Nonedownside_2027q1_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/1Nonedownside_2027q2_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/2Nonedownside_2027q3_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/3Nonedownside_2027q4_capex
/operating_model/cells/downside_fy2027_capex:downside/idNonedownside_fy2027_capex
/operating_model/cells/downside_fy2027_capex:downside/kindNonederived
/operating_model/cells/downside_fy2027_capex:downside/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/downside_fy2027_capex:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_capex:downside/valueNone14600.0
/operating_model/cells/downside_fy2027_cash_after_claims:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_cash_after_claims:downside/caseNonedownside
/operating_model/cells/downside_fy2027_cash_after_claims:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_cash_after_claims:downside/formula/refs/0Nonedownside_2027q1_cash_after_claims
/operating_model/cells/downside_fy2027_cash_after_claims:downside/formula/refs/1Nonedownside_2027q2_cash_after_claims
/operating_model/cells/downside_fy2027_cash_after_claims:downside/formula/refs/2Nonedownside_2027q3_cash_after_claims
/operating_model/cells/downside_fy2027_cash_after_claims:downside/formula/refs/3Nonedownside_2027q4_cash_after_claims
/operating_model/cells/downside_fy2027_cash_after_claims:downside/idNonedownside_fy2027_cash_after_claims
/operating_model/cells/downside_fy2027_cash_after_claims:downside/kindNonederived
/operating_model/cells/downside_fy2027_cash_after_claims:downside/labelNoneCash after distributions and principal ($M)
/operating_model/cells/downside_fy2027_cash_after_claims:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_cash_after_claims:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_cash_after_claims:downside/valueNone-16417.767356160002
/operating_model/cells/downside_fy2027_cfo:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_cfo:downside/caseNonedownside
/operating_model/cells/downside_fy2027_cfo:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/0Nonedownside_2027q1_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/1Nonedownside_2027q2_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/2Nonedownside_2027q3_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/3Nonedownside_2027q4_cfo
/operating_model/cells/downside_fy2027_cfo:downside/idNonedownside_fy2027_cfo
/operating_model/cells/downside_fy2027_cfo:downside/kindNonederived
/operating_model/cells/downside_fy2027_cfo:downside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/downside_fy2027_cfo:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_cfo:downside/valueNone-366.0725000000009
/operating_model/cells/downside_fy2027_common_dividends:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_common_dividends:downside/caseNonedownside
/operating_model/cells/downside_fy2027_common_dividends:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_common_dividends:downside/formula/refs/0Nonedownside_2027q1_common_dividends
/operating_model/cells/downside_fy2027_common_dividends:downside/formula/refs/1Nonedownside_2027q2_common_dividends
/operating_model/cells/downside_fy2027_common_dividends:downside/formula/refs/2Nonedownside_2027q3_common_dividends
/operating_model/cells/downside_fy2027_common_dividends:downside/formula/refs/3Nonedownside_2027q4_common_dividends
/operating_model/cells/downside_fy2027_common_dividends:downside/idNonedownside_fy2027_common_dividends
/operating_model/cells/downside_fy2027_common_dividends:downside/kindNonederived
/operating_model/cells/downside_fy2027_common_dividends:downside/labelNoneCommon cash dividends ($M)
/operating_model/cells/downside_fy2027_common_dividends:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_common_dividends:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_common_dividends:downside/valueNone401.69485616
/operating_model/cells/downside_fy2027_debt_principal:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_debt_principal:downside/caseNonedownside
/operating_model/cells/downside_fy2027_debt_principal:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_debt_principal:downside/formula/refs/0Nonedownside_2027q1_debt_principal
/operating_model/cells/downside_fy2027_debt_principal:downside/formula/refs/1Nonedownside_2027q2_debt_principal
/operating_model/cells/downside_fy2027_debt_principal:downside/formula/refs/2Nonedownside_2027q3_debt_principal
/operating_model/cells/downside_fy2027_debt_principal:downside/formula/refs/3Nonedownside_2027q4_debt_principal
/operating_model/cells/downside_fy2027_debt_principal:downside/idNonedownside_fy2027_debt_principal
/operating_model/cells/downside_fy2027_debt_principal:downside/kindNonederived
/operating_model/cells/downside_fy2027_debt_principal:downside/labelNoneDebt principal repayments ($M)
/operating_model/cells/downside_fy2027_debt_principal:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_debt_principal:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_debt_principal:downside/valueNone600.0
/operating_model/cells/downside_fy2027_fcf:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_fcf:downside/caseNonedownside
/operating_model/cells/downside_fy2027_fcf:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_fcf:downside/formula/refs/0Nonedownside_2027q1_fcf
/operating_model/cells/downside_fy2027_fcf:downside/formula/refs/1Nonedownside_2027q2_fcf
/operating_model/cells/downside_fy2027_fcf:downside/formula/refs/2Nonedownside_2027q3_fcf
/operating_model/cells/downside_fy2027_fcf:downside/formula/refs/3Nonedownside_2027q4_fcf
/operating_model/cells/downside_fy2027_fcf:downside/idNonedownside_fy2027_fcf
/operating_model/cells/downside_fy2027_fcf:downside/kindNonederived
/operating_model/cells/downside_fy2027_fcf:downside/labelNoneCFO less cash capex ($M)
/operating_model/cells/downside_fy2027_fcf:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_fcf:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_fcf:downside/valueNone-14966.0725
/operating_model/cells/downside_fy2027_operating_income:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_operating_income:downside/caseNonedownside
/operating_model/cells/downside_fy2027_operating_income:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/0Nonedownside_2027q1_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/1Nonedownside_2027q2_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/2Nonedownside_2027q3_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/3Nonedownside_2027q4_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/idNonedownside_fy2027_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/kindNonederived
/operating_model/cells/downside_fy2027_operating_income:downside/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/downside_fy2027_operating_income:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_operating_income:downside/valueNone2025.9274999999993
/operating_model/cells/downside_fy2027_preferred_redemption:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_preferred_redemption:downside/caseNonedownside
/operating_model/cells/downside_fy2027_preferred_redemption:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_preferred_redemption:downside/formula/refs/0Nonedownside_2027q1_preferred_redemption
/operating_model/cells/downside_fy2027_preferred_redemption:downside/formula/refs/1Nonedownside_2027q2_preferred_redemption
/operating_model/cells/downside_fy2027_preferred_redemption:downside/formula/refs/2Nonedownside_2027q3_preferred_redemption
/operating_model/cells/downside_fy2027_preferred_redemption:downside/formula/refs/3Nonedownside_2027q4_preferred_redemption
/operating_model/cells/downside_fy2027_preferred_redemption:downside/idNonedownside_fy2027_preferred_redemption
/operating_model/cells/downside_fy2027_preferred_redemption:downside/kindNonederived
/operating_model/cells/downside_fy2027_preferred_redemption:downside/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/downside_fy2027_preferred_redemption:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_preferred_redemption:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_preferred_redemption:downside/valueNone0.0
/operating_model/cells/downside_fy2027_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2027_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/0Nonedownside_2027q1_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/1Nonedownside_2027q2_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/2Nonedownside_2027q3_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/3Nonedownside_2027q4_revenue
/operating_model/cells/downside_fy2027_revenue:downside/idNonedownside_fy2027_revenue
/operating_model/cells/downside_fy2027_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2027_revenue:downside/labelNoneConsolidated revenue ($M)
/operating_model/cells/downside_fy2027_revenue:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_revenue:downside/valueNone13137.39
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/caseNonedownside
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/formula/refs/0Nonedownside_2027q1_subsidiary_distributions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/formula/refs/1Nonedownside_2027q2_subsidiary_distributions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/formula/refs/2Nonedownside_2027q3_subsidiary_distributions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/formula/refs/3Nonedownside_2027q4_subsidiary_distributions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/idNonedownside_fy2027_subsidiary_distributions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/kindNonederived
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_subsidiary_distributions:downside/valueNone450.0
/operating_model/cells/ebitda_guide:shared/basisNoneCalculated midpoint of the company range; not an additional company forecast.
/operating_model/cells/ebitda_guide:shared/caseNoneshared
/operating_model/cells/ebitda_guide:shared/formula/opNonedivide
/operating_model/cells/ebitda_guide:shared/formula/refs/0Noneebitda_guide_sum
/operating_model/cells/ebitda_guide:shared/formula/refs/1Nonetwo
/operating_model/cells/ebitda_guide:shared/idNoneebitda_guide
/operating_model/cells/ebitda_guide:shared/kindNonederived
/operating_model/cells/ebitda_guide:shared/labelNoneFY2026 consolidated adjusted EBITDA guidance midpoint
/operating_model/cells/ebitda_guide:shared/periodNoneFY2026
/operating_model/cells/ebitda_guide:shared/unitNoneUSD_millions
/operating_model/cells/ebitda_guide:shared/valueNone8900.0
/operating_model/cells/ebitda_guide_high:shared/basisNoneCompany guidance; not a desk forecast.
/operating_model/cells/ebitda_guide_high:shared/caseNoneshared
/operating_model/cells/ebitda_guide_high:shared/idNoneebitda_guide_high
/operating_model/cells/ebitda_guide_high:shared/kindNonemanagement_guidance
/operating_model/cells/ebitda_guide_high:shared/labelNoneFY2026 consolidated adjusted EBITDA guidance high
/operating_model/cells/ebitda_guide_high:shared/periodNoneFY2026
/operating_model/cells/ebitda_guide_high:shared/source_dateNone2026-08-11
/operating_model/cells/ebitda_guide_high:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/ebitda_guide_high:shared/unitNoneUSD_millions
/operating_model/cells/ebitda_guide_high:shared/valueNone9100.0
/operating_model/cells/ebitda_guide_low:shared/basisNoneCompany guidance; not a desk forecast.
/operating_model/cells/ebitda_guide_low:shared/caseNoneshared
/operating_model/cells/ebitda_guide_low:shared/idNoneebitda_guide_low
/operating_model/cells/ebitda_guide_low:shared/kindNonemanagement_guidance
/operating_model/cells/ebitda_guide_low:shared/labelNoneFY2026 consolidated adjusted EBITDA guidance low
/operating_model/cells/ebitda_guide_low:shared/periodNoneFY2026
/operating_model/cells/ebitda_guide_low:shared/source_dateNone2026-08-11
/operating_model/cells/ebitda_guide_low:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/ebitda_guide_low:shared/unitNoneUSD_millions
/operating_model/cells/ebitda_guide_low:shared/valueNone8700.0
/operating_model/cells/ebitda_guide_sum:shared/basisNoneArithmetic intermediate.
/operating_model/cells/ebitda_guide_sum:shared/caseNoneshared
/operating_model/cells/ebitda_guide_sum:shared/formula/opNonesum
/operating_model/cells/ebitda_guide_sum:shared/formula/refs/0Noneebitda_guide_low
/operating_model/cells/ebitda_guide_sum:shared/formula/refs/1Noneebitda_guide_high
/operating_model/cells/ebitda_guide_sum:shared/idNoneebitda_guide_sum
/operating_model/cells/ebitda_guide_sum:shared/kindNonederived
/operating_model/cells/ebitda_guide_sum:shared/labelNoneFY2026 consolidated adjusted EBITDA guidance endpoint sum
/operating_model/cells/ebitda_guide_sum:shared/periodNoneFY2026
/operating_model/cells/ebitda_guide_sum:shared/unitNoneUSD_millions
/operating_model/cells/ebitda_guide_sum:shared/valueNone17800.0
/operating_model/cells/h1_adj_ebitda:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_adj_ebitda:shared/caseNoneshared
/operating_model/cells/h1_adj_ebitda:shared/idNoneh1_adj_ebitda
/operating_model/cells/h1_adj_ebitda:shared/kindNonereported
/operating_model/cells/h1_adj_ebitda:shared/labelNoneH1 adj ebitda
/operating_model/cells/h1_adj_ebitda:shared/periodNoneH1 2026
/operating_model/cells/h1_adj_ebitda:shared/source_dateNone2026-08-11
/operating_model/cells/h1_adj_ebitda:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/h1_adj_ebitda:shared/unitNoneUSD_millions
/operating_model/cells/h1_adj_ebitda:shared/valueNone3863.0
/operating_model/cells/h1_capex:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_capex:shared/caseNoneshared
/operating_model/cells/h1_capex:shared/idNoneh1_capex
/operating_model/cells/h1_capex:shared/kindNonereported
/operating_model/cells/h1_capex:shared/labelNoneH1 capex
/operating_model/cells/h1_capex:shared/periodNoneH1 2026
/operating_model/cells/h1_capex:shared/source_dateNone2026-08-11
/operating_model/cells/h1_capex:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_capex:shared/unitNoneUSD_millions
/operating_model/cells/h1_capex:shared/valueNone6900.0
/operating_model/cells/h1_capitalized_interest:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_capitalized_interest:shared/caseNoneshared
/operating_model/cells/h1_capitalized_interest:shared/idNoneh1_capitalized_interest
/operating_model/cells/h1_capitalized_interest:shared/kindNonereported
/operating_model/cells/h1_capitalized_interest:shared/labelNoneH1 capitalized interest
/operating_model/cells/h1_capitalized_interest:shared/periodNoneH1 2026
/operating_model/cells/h1_capitalized_interest:shared/source_dateNone2026-08-11
/operating_model/cells/h1_capitalized_interest:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_capitalized_interest:shared/unitNoneUSD_millions
/operating_model/cells/h1_capitalized_interest:shared/valueNone595.0
/operating_model/cells/h1_cargos:shared/basisNoneExported count, not sales-recognized cargo equivalent.
/operating_model/cells/h1_cargos:shared/caseNoneshared
/operating_model/cells/h1_cargos:shared/idNoneh1_cargos
/operating_model/cells/h1_cargos:shared/kindNonereported
/operating_model/cells/h1_cargos:shared/labelNoneH1 exported cargos
/operating_model/cells/h1_cargos:shared/periodNoneH1 2026
/operating_model/cells/h1_cargos:shared/source_dateNone2026-08-11
/operating_model/cells/h1_cargos:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/h1_cargos:shared/unitNoneratio
/operating_model/cells/h1_cargos:shared/valueNone257.0
/operating_model/cells/h1_cash_after_claims:shared/basisNoneNot the change in cash: excludes $11.630B draws and other investing/financing flows.
/operating_model/cells/h1_cash_after_claims:shared/caseNoneshared
/operating_model/cells/h1_cash_after_claims:shared/formula/opNonesubtract
/operating_model/cells/h1_cash_after_claims:shared/formula/refs/0Noneh1_fcf
/operating_model/cells/h1_cash_after_claims:shared/formula/refs/1Noneh1_claims
/operating_model/cells/h1_cash_after_claims:shared/idNoneh1_cash_after_claims
/operating_model/cells/h1_cash_after_claims:shared/kindNonederived
/operating_model/cells/h1_cash_after_claims:shared/labelNoneH1 cash after modeled claims
/operating_model/cells/h1_cash_after_claims:shared/periodNoneH1 2026
/operating_model/cells/h1_cash_after_claims:shared/unitNoneUSD_millions
/operating_model/cells/h1_cash_after_claims:shared/valueNone-10190.0
/operating_model/cells/h1_cfo:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_cfo:shared/caseNoneshared
/operating_model/cells/h1_cfo:shared/idNoneh1_cfo
/operating_model/cells/h1_cfo:shared/kindNonereported
/operating_model/cells/h1_cfo:shared/labelNoneH1 cfo
/operating_model/cells/h1_cfo:shared/periodNoneH1 2026
/operating_model/cells/h1_cfo:shared/source_dateNone2026-08-11
/operating_model/cells/h1_cfo:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_cfo:shared/unitNoneUSD_millions
/operating_model/cells/h1_cfo:shared/valueNone2835.0
/operating_model/cells/h1_claims:shared/basisNoneIncludes one-time redemption and refinancing principal; new financing is intentionally separate.
/operating_model/cells/h1_claims:shared/caseNoneshared
/operating_model/cells/h1_claims:shared/formula/opNonesum
/operating_model/cells/h1_claims:shared/formula/refs/0Noneh1_subsidiary_distributions
/operating_model/cells/h1_claims:shared/formula/refs/1Noneh1_common_dividends
/operating_model/cells/h1_claims:shared/formula/refs/2Noneh1_preferred_redemption
/operating_model/cells/h1_claims:shared/formula/refs/3Noneh1_debt_principal
/operating_model/cells/h1_claims:shared/idNoneh1_claims
/operating_model/cells/h1_claims:shared/kindNonederived
/operating_model/cells/h1_claims:shared/labelNoneH1 distributions redemption and principal
/operating_model/cells/h1_claims:shared/periodNoneH1 2026
/operating_model/cells/h1_claims:shared/unitNoneUSD_millions
/operating_model/cells/h1_claims:shared/valueNone6125.0
/operating_model/cells/h1_common_dividends:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_common_dividends:shared/caseNoneshared
/operating_model/cells/h1_common_dividends:shared/idNoneh1_common_dividends
/operating_model/cells/h1_common_dividends:shared/kindNonereported
/operating_model/cells/h1_common_dividends:shared/labelNoneH1 common dividends
/operating_model/cells/h1_common_dividends:shared/periodNoneH1 2026
/operating_model/cells/h1_common_dividends:shared/source_dateNone2026-08-11
/operating_model/cells/h1_common_dividends:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_common_dividends:shared/unitNoneUSD_millions
/operating_model/cells/h1_common_dividends:shared/valueNone89.0
/operating_model/cells/h1_common_net_income:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_common_net_income:shared/caseNoneshared
/operating_model/cells/h1_common_net_income:shared/idNoneh1_common_net_income
/operating_model/cells/h1_common_net_income:shared/kindNonereported
/operating_model/cells/h1_common_net_income:shared/labelNoneH1 common net income
/operating_model/cells/h1_common_net_income:shared/periodNoneH1 2026
/operating_model/cells/h1_common_net_income:shared/source_dateNone2026-08-11
/operating_model/cells/h1_common_net_income:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_common_net_income:shared/unitNoneUSD_millions
/operating_model/cells/h1_common_net_income:shared/valueNone1835.0
/operating_model/cells/h1_consolidated_net_income:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_consolidated_net_income:shared/caseNoneshared
/operating_model/cells/h1_consolidated_net_income:shared/idNoneh1_consolidated_net_income
/operating_model/cells/h1_consolidated_net_income:shared/kindNonereported
/operating_model/cells/h1_consolidated_net_income:shared/labelNoneH1 consolidated net income
/operating_model/cells/h1_consolidated_net_income:shared/periodNoneH1 2026
/operating_model/cells/h1_consolidated_net_income:shared/source_dateNone2026-08-11
/operating_model/cells/h1_consolidated_net_income:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_consolidated_net_income:shared/unitNoneUSD_millions
/operating_model/cells/h1_consolidated_net_income:shared/valueNone2042.0
/operating_model/cells/h1_cp2_capex:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_cp2_capex:shared/caseNoneshared
/operating_model/cells/h1_cp2_capex:shared/idNoneh1_cp2_capex
/operating_model/cells/h1_cp2_capex:shared/kindNonereported
/operating_model/cells/h1_cp2_capex:shared/labelNoneH1 cp2 capex
/operating_model/cells/h1_cp2_capex:shared/periodNoneH1 2026
/operating_model/cells/h1_cp2_capex:shared/source_dateNone2026-08-11
/operating_model/cells/h1_cp2_capex:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_cp2_capex:shared/unitNoneUSD_millions
/operating_model/cells/h1_cp2_capex:shared/valueNone5613.0
/operating_model/cells/h1_da:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_da:shared/caseNoneshared
/operating_model/cells/h1_da:shared/idNoneh1_da
/operating_model/cells/h1_da:shared/kindNonereported
/operating_model/cells/h1_da:shared/labelNoneH1 da
/operating_model/cells/h1_da:shared/periodNoneH1 2026
/operating_model/cells/h1_da:shared/source_dateNone2026-08-11
/operating_model/cells/h1_da:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_da:shared/unitNoneUSD_millions
/operating_model/cells/h1_da:shared/valueNone511.0
/operating_model/cells/h1_debt_draws:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_debt_draws:shared/caseNoneshared
/operating_model/cells/h1_debt_draws:shared/idNoneh1_debt_draws
/operating_model/cells/h1_debt_draws:shared/kindNonereported
/operating_model/cells/h1_debt_draws:shared/labelNoneH1 debt draws
/operating_model/cells/h1_debt_draws:shared/periodNoneH1 2026
/operating_model/cells/h1_debt_draws:shared/source_dateNone2026-08-11
/operating_model/cells/h1_debt_draws:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_debt_draws:shared/unitNoneUSD_millions
/operating_model/cells/h1_debt_draws:shared/valueNone11630.0
/operating_model/cells/h1_debt_principal:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_debt_principal:shared/caseNoneshared
/operating_model/cells/h1_debt_principal:shared/idNoneh1_debt_principal
/operating_model/cells/h1_debt_principal:shared/kindNonereported
/operating_model/cells/h1_debt_principal:shared/labelNoneH1 debt principal
/operating_model/cells/h1_debt_principal:shared/periodNoneH1 2026
/operating_model/cells/h1_debt_principal:shared/source_dateNone2026-08-11
/operating_model/cells/h1_debt_principal:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_debt_principal:shared/unitNoneUSD_millions
/operating_model/cells/h1_debt_principal:shared/valueNone4083.0
/operating_model/cells/h1_expensed_cash_interest:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_expensed_cash_interest:shared/caseNoneshared
/operating_model/cells/h1_expensed_cash_interest:shared/idNoneh1_expensed_cash_interest
/operating_model/cells/h1_expensed_cash_interest:shared/kindNonereported
/operating_model/cells/h1_expensed_cash_interest:shared/labelNoneH1 expensed cash interest
/operating_model/cells/h1_expensed_cash_interest:shared/periodNoneH1 2026
/operating_model/cells/h1_expensed_cash_interest:shared/source_dateNone2026-08-11
/operating_model/cells/h1_expensed_cash_interest:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_expensed_cash_interest:shared/unitNoneUSD_millions
/operating_model/cells/h1_expensed_cash_interest:shared/valueNone768.0
/operating_model/cells/h1_fcf:shared/basisNoneConsolidated cash deficit before financing claims.
/operating_model/cells/h1_fcf:shared/caseNoneshared
/operating_model/cells/h1_fcf:shared/formula/opNonesubtract
/operating_model/cells/h1_fcf:shared/formula/refs/0Noneh1_cfo
/operating_model/cells/h1_fcf:shared/formula/refs/1Noneh1_capex
/operating_model/cells/h1_fcf:shared/idNoneh1_fcf
/operating_model/cells/h1_fcf:shared/kindNonederived
/operating_model/cells/h1_fcf:shared/labelNoneH1 CFO less capex
/operating_model/cells/h1_fcf:shared/periodNoneH1 2026
/operating_model/cells/h1_fcf:shared/unitNoneUSD_millions
/operating_model/cells/h1_fcf:shared/valueNone-4065.0
/operating_model/cells/h1_finance_fees:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_finance_fees:shared/caseNoneshared
/operating_model/cells/h1_finance_fees:shared/idNoneh1_finance_fees
/operating_model/cells/h1_finance_fees:shared/kindNonereported
/operating_model/cells/h1_finance_fees:shared/labelNoneH1 finance fees
/operating_model/cells/h1_finance_fees:shared/periodNoneH1 2026
/operating_model/cells/h1_finance_fees:shared/source_dateNone2026-08-11
/operating_model/cells/h1_finance_fees:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_finance_fees:shared/unitNoneUSD_millions
/operating_model/cells/h1_finance_fees:shared/valueNone506.0
/operating_model/cells/h1_nci_cash:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_nci_cash:shared/caseNoneshared
/operating_model/cells/h1_nci_cash:shared/idNoneh1_nci_cash
/operating_model/cells/h1_nci_cash:shared/kindNonereported
/operating_model/cells/h1_nci_cash:shared/labelNoneH1 nci cash
/operating_model/cells/h1_nci_cash:shared/periodNoneH1 2026
/operating_model/cells/h1_nci_cash:shared/source_dateNone2026-08-11
/operating_model/cells/h1_nci_cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_nci_cash:shared/unitNoneUSD_millions
/operating_model/cells/h1_nci_cash:shared/valueNone75.0
/operating_model/cells/h1_operating_income:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_operating_income:shared/caseNoneshared
/operating_model/cells/h1_operating_income:shared/idNoneh1_operating_income
/operating_model/cells/h1_operating_income:shared/kindNonereported
/operating_model/cells/h1_operating_income:shared/labelNoneH1 operating income
/operating_model/cells/h1_operating_income:shared/periodNoneH1 2026
/operating_model/cells/h1_operating_income:shared/source_dateNone2026-08-11
/operating_model/cells/h1_operating_income:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_operating_income:shared/unitNoneUSD_millions
/operating_model/cells/h1_operating_income:shared/valueNone3339.0
/operating_model/cells/h1_preferred_redemption:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_preferred_redemption:shared/caseNoneshared
/operating_model/cells/h1_preferred_redemption:shared/idNoneh1_preferred_redemption
/operating_model/cells/h1_preferred_redemption:shared/kindNonereported
/operating_model/cells/h1_preferred_redemption:shared/labelNoneH1 preferred redemption
/operating_model/cells/h1_preferred_redemption:shared/periodNoneH1 2026
/operating_model/cells/h1_preferred_redemption:shared/source_dateNone2026-08-11
/operating_model/cells/h1_preferred_redemption:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_preferred_redemption:shared/unitNoneUSD_millions
/operating_model/cells/h1_preferred_redemption:shared/valueNone1743.0
/operating_model/cells/h1_revenue:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_revenue:shared/caseNoneshared
/operating_model/cells/h1_revenue:shared/idNoneh1_revenue
/operating_model/cells/h1_revenue:shared/kindNonereported
/operating_model/cells/h1_revenue:shared/labelNoneH1 revenue
/operating_model/cells/h1_revenue:shared/periodNoneH1 2026
/operating_model/cells/h1_revenue:shared/source_dateNone2026-08-11
/operating_model/cells/h1_revenue:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_revenue:shared/unitNoneUSD_millions
/operating_model/cells/h1_revenue:shared/valueNone9177.0
/operating_model/cells/h1_sales_tbtu:shared/basisNoneTBtu equals million MMBtu; unit represented as a dimensionless physical quantity for normalization.
/operating_model/cells/h1_sales_tbtu:shared/caseNoneshared
/operating_model/cells/h1_sales_tbtu:shared/idNoneh1_sales_tbtu
/operating_model/cells/h1_sales_tbtu:shared/kindNonereported
/operating_model/cells/h1_sales_tbtu:shared/labelNoneH1 LNG sales recognized, TBtu
/operating_model/cells/h1_sales_tbtu:shared/periodNoneH1 2026
/operating_model/cells/h1_sales_tbtu:shared/source_dateNone2026-08-11
/operating_model/cells/h1_sales_tbtu:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/h1_sales_tbtu:shared/unitNoneratio
/operating_model/cells/h1_sales_tbtu:shared/valueNone947.2
/operating_model/cells/h1_sbc:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_sbc:shared/caseNoneshared
/operating_model/cells/h1_sbc:shared/idNoneh1_sbc
/operating_model/cells/h1_sbc:shared/kindNonereported
/operating_model/cells/h1_sbc:shared/labelNoneH1 sbc
/operating_model/cells/h1_sbc:shared/periodNoneH1 2026
/operating_model/cells/h1_sbc:shared/source_dateNone2026-08-11
/operating_model/cells/h1_sbc:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_sbc:shared/unitNoneUSD_millions
/operating_model/cells/h1_sbc:shared/valueNone27.0
/operating_model/cells/h1_series_a_cash:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_series_a_cash:shared/caseNoneshared
/operating_model/cells/h1_series_a_cash:shared/idNoneh1_series_a_cash
/operating_model/cells/h1_series_a_cash:shared/kindNonereported
/operating_model/cells/h1_series_a_cash:shared/labelNoneH1 series a cash
/operating_model/cells/h1_series_a_cash:shared/periodNoneH1 2026
/operating_model/cells/h1_series_a_cash:shared/source_dateNone2026-08-11
/operating_model/cells/h1_series_a_cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_series_a_cash:shared/unitNoneUSD_millions
/operating_model/cells/h1_series_a_cash:shared/valueNone135.0
/operating_model/cells/h1_subsidiary_distributions:shared/basisNoneReported USD millions. CP2 cash capex is from the cash-flow discussion; segment capital expenditures also include financed amounts.
/operating_model/cells/h1_subsidiary_distributions:shared/caseNoneshared
/operating_model/cells/h1_subsidiary_distributions:shared/idNoneh1_subsidiary_distributions
/operating_model/cells/h1_subsidiary_distributions:shared/kindNonereported
/operating_model/cells/h1_subsidiary_distributions:shared/labelNoneH1 subsidiary distributions
/operating_model/cells/h1_subsidiary_distributions:shared/periodNoneH1 2026
/operating_model/cells/h1_subsidiary_distributions:shared/source_dateNone2026-08-11
/operating_model/cells/h1_subsidiary_distributions:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/h1_subsidiary_distributions:shared/unitNoneUSD_millions
/operating_model/cells/h1_subsidiary_distributions:shared/valueNone210.0
/operating_model/cells/h2_cargos:shared/basisNoneAnnual midpoint less reported H1.
/operating_model/cells/h2_cargos:shared/caseNoneshared
/operating_model/cells/h2_cargos:shared/formula/opNonesubtract
/operating_model/cells/h2_cargos:shared/formula/refs/0Noneannual_cargos
/operating_model/cells/h2_cargos:shared/formula/refs/1Noneh1_cargos
/operating_model/cells/h2_cargos:shared/idNoneh2_cargos
/operating_model/cells/h2_cargos:shared/kindNonederived
/operating_model/cells/h2_cargos:shared/labelNoneRemaining 2026 export cargos
/operating_model/cells/h2_cargos:shared/periodNoneH2 2026
/operating_model/cells/h2_cargos:shared/unitNoneratio
/operating_model/cells/h2_cargos:shared/valueNone252.0
/operating_model/cells/h2_ebitda_target:shared/basisNoneAnnual company midpoint less reported H1.
/operating_model/cells/h2_ebitda_target:shared/caseNoneshared
/operating_model/cells/h2_ebitda_target:shared/formula/opNonesubtract
/operating_model/cells/h2_ebitda_target:shared/formula/refs/0Noneebitda_guide
/operating_model/cells/h2_ebitda_target:shared/formula/refs/1Noneh1_adj_ebitda
/operating_model/cells/h2_ebitda_target:shared/idNoneh2_ebitda_target
/operating_model/cells/h2_ebitda_target:shared/kindNonederived
/operating_model/cells/h2_ebitda_target:shared/labelNoneH2 company EBITDA midpoint residual
/operating_model/cells/h2_ebitda_target:shared/periodNoneH2 2026
/operating_model/cells/h2_ebitda_target:shared/unitNoneUSD_millions
/operating_model/cells/h2_ebitda_target:shared/valueNone5037.0
/operating_model/cells/h2_fee_baseline:shared/basisNoneExcludes feed-gas recovery.
/operating_model/cells/h2_fee_baseline:shared/caseNoneshared
/operating_model/cells/h2_fee_baseline:shared/formula/opNonesum
/operating_model/cells/h2_fee_baseline:shared/formula/refs/0Noneh2_fixed_fee
/operating_model/cells/h2_fee_baseline:shared/formula/refs/1Noneh2_unsold_fee
/operating_model/cells/h2_fee_baseline:shared/idNoneh2_fee_baseline
/operating_model/cells/h2_fee_baseline:shared/kindNonederived
/operating_model/cells/h2_fee_baseline:shared/labelNoneH2 fee revenue at guidance price baseline
/operating_model/cells/h2_fee_baseline:shared/periodNoneH2 2026
/operating_model/cells/h2_fee_baseline:shared/unitNoneUSD_millions
/operating_model/cells/h2_fee_baseline:shared/valueNone6227.055
/operating_model/cells/h2_fixed_fee:shared/basisNoneVolume TBtu times normalized $M fee per TBtu.
/operating_model/cells/h2_fixed_fee:shared/caseNoneshared
/operating_model/cells/h2_fixed_fee:shared/formula/opNonemultiply
/operating_model/cells/h2_fixed_fee:shared/formula/refs/0Nonecontracted_volume
/operating_model/cells/h2_fixed_fee:shared/formula/refs/1Nonecontracted_fee
/operating_model/cells/h2_fixed_fee:shared/idNoneh2_fixed_fee
/operating_model/cells/h2_fixed_fee:shared/kindNonederived
/operating_model/cells/h2_fixed_fee:shared/labelNoneH2 contracted fee revenue
/operating_model/cells/h2_fixed_fee:shared/periodNoneH2 2026
/operating_model/cells/h2_fixed_fee:shared/unitNoneUSD_millions
/operating_model/cells/h2_fixed_fee:shared/valueNone3692.055
/operating_model/cells/h2_residual_cost:shared/basisNoneCalibration residual, not separately disclosed operating expense or segment guidance.
/operating_model/cells/h2_residual_cost:shared/caseNoneshared
/operating_model/cells/h2_residual_cost:shared/formula/opNonesubtract
/operating_model/cells/h2_residual_cost:shared/formula/refs/0Noneh2_fee_baseline
/operating_model/cells/h2_residual_cost:shared/formula/refs/1Noneh2_ebitda_target
/operating_model/cells/h2_residual_cost:shared/idNoneh2_residual_cost
/operating_model/cells/h2_residual_cost:shared/kindNonederived
/operating_model/cells/h2_residual_cost:shared/labelNoneH2 residual costs net of other contribution
/operating_model/cells/h2_residual_cost:shared/periodNoneH2 2026
/operating_model/cells/h2_residual_cost:shared/unitNoneUSD_millions
/operating_model/cells/h2_residual_cost:shared/valueNone1190.0550000000003
/operating_model/cells/h2_unsold_fee:shared/basisNoneCompany guidance price midpoint and sensitivity baseline.
/operating_model/cells/h2_unsold_fee:shared/caseNoneshared
/operating_model/cells/h2_unsold_fee:shared/formula/opNonemultiply
/operating_model/cells/h2_unsold_fee:shared/formula/refs/0Noneunsold_volume
/operating_model/cells/h2_unsold_fee:shared/formula/refs/1Noneunsold_fee
/operating_model/cells/h2_unsold_fee:shared/idNoneh2_unsold_fee
/operating_model/cells/h2_unsold_fee:shared/kindNonederived
/operating_model/cells/h2_unsold_fee:shared/labelNoneH2 unsold fee revenue
/operating_model/cells/h2_unsold_fee:shared/periodNoneH2 2026
/operating_model/cells/h2_unsold_fee:shared/unitNoneUSD_millions
/operating_model/cells/h2_unsold_fee:shared/valueNone2535.0
/operating_model/cells/h2_volume:shared/basisNonePhysical volume baseline before fee mix.
/operating_model/cells/h2_volume:shared/caseNoneshared
/operating_model/cells/h2_volume:shared/formula/opNonemultiply
/operating_model/cells/h2_volume:shared/formula/refs/0Noneh2_cargos
/operating_model/cells/h2_volume:shared/formula/refs/1Nonecargo_size
/operating_model/cells/h2_volume:shared/formula/refs/2Nonesales_timing
/operating_model/cells/h2_volume:shared/idNoneh2_volume
/operating_model/cells/h2_volume:shared/kindNonederived
/operating_model/cells/h2_volume:shared/labelNoneH2 recognized LNG sales TBtu baseline
/operating_model/cells/h2_volume:shared/periodNoneH2 2026
/operating_model/cells/h2_volume:shared/unitNoneratio
/operating_model/cells/h2_volume:shared/valueNone926.1
/operating_model/cells/new_revolver_commitment:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/new_revolver_commitment:shared/caseNoneshared
/operating_model/cells/new_revolver_commitment:shared/idNonenew_revolver_commitment
/operating_model/cells/new_revolver_commitment:shared/kindNonereported
/operating_model/cells/new_revolver_commitment:shared/labelNonenew revolver commitment
/operating_model/cells/new_revolver_commitment:shared/periodNoneJune/September 2026
/operating_model/cells/new_revolver_commitment:shared/source_dateNone2026-09-02
/operating_model/cells/new_revolver_commitment:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000066/vg-20260902.htm
/operating_model/cells/new_revolver_commitment:shared/unitNoneUSD_millions
/operating_model/cells/new_revolver_commitment:shared/valueNone3000.0
/operating_model/cells/restricted_cash:shared/basisNoneUSD millions. Redeemed CP Funding units differ from outstanding VGLNG Series A preferred/NCI interests.
/operating_model/cells/restricted_cash:shared/caseNoneshared
/operating_model/cells/restricted_cash:shared/idNonerestricted_cash
/operating_model/cells/restricted_cash:shared/kindNonereported
/operating_model/cells/restricted_cash:shared/labelNonerestricted cash
/operating_model/cells/restricted_cash:shared/periodNoneJune/September 2026
/operating_model/cells/restricted_cash:shared/source_dateNone2026-08-11
/operating_model/cells/restricted_cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/operating_model/cells/restricted_cash:shared/unitNoneUSD_millions
/operating_model/cells/restricted_cash:shared/valueNone1470.0
/operating_model/cells/sales_timing:shared/basisNoneDesk shipment/recognition factor; no assertion that each exported cargo is already recognized.
/operating_model/cells/sales_timing:shared/caseNoneshared
/operating_model/cells/sales_timing:shared/idNonesales_timing
/operating_model/cells/sales_timing:shared/kindNoneassumption
/operating_model/cells/sales_timing:shared/labelNoneRecognized sales / contemporaneous exports
/operating_model/cells/sales_timing:shared/periodNoneModel
/operating_model/cells/sales_timing:shared/unitNoneratio
/operating_model/cells/sales_timing:shared/valueNone0.98
/operating_model/cells/two:shared/basisNoneArithmetic constant.
/operating_model/cells/two:shared/caseNoneshared
/operating_model/cells/two:shared/idNonetwo
/operating_model/cells/two:shared/kindNoneassumption
/operating_model/cells/two:shared/labelNoneMidpoint divisor
/operating_model/cells/two:shared/periodNoneModel
/operating_model/cells/two:shared/unitNoneratio
/operating_model/cells/two:shared/valueNone2.0
/operating_model/cells/unsold_fee:shared/basisNoneArithmetic midpoint of $12.50-$13.50/MMBtu assumed in guidance; not all-in sales price.
/operating_model/cells/unsold_fee:shared/caseNoneshared
/operating_model/cells/unsold_fee:shared/idNoneunsold_fee
/operating_model/cells/unsold_fee:shared/kindNoneassumption
/operating_model/cells/unsold_fee:shared/labelNone2026 unsold fee revenue per TBtu sold, midpoint
/operating_model/cells/unsold_fee:shared/periodNoneFY2026
/operating_model/cells/unsold_fee:shared/source_dateNone2026-08-11
/operating_model/cells/unsold_fee:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/unsold_fee:shared/unitNoneUSD_millions
/operating_model/cells/unsold_fee:shared/valueNone13.0
/operating_model/cells/unsold_sensitivity:shared/basisNoneCalculated midpoint of the company range; not an additional company forecast.
/operating_model/cells/unsold_sensitivity:shared/caseNoneshared
/operating_model/cells/unsold_sensitivity:shared/formula/opNonedivide
/operating_model/cells/unsold_sensitivity:shared/formula/refs/0Noneunsold_sensitivity_sum
/operating_model/cells/unsold_sensitivity:shared/formula/refs/1Nonetwo
/operating_model/cells/unsold_sensitivity:shared/idNoneunsold_sensitivity
/operating_model/cells/unsold_sensitivity:shared/kindNonederived
/operating_model/cells/unsold_sensitivity:shared/labelNoneFY2026 EBITDA sensitivity per $1/MMBtu on unsold cargos midpoint
/operating_model/cells/unsold_sensitivity:shared/periodNoneFY2026
/operating_model/cells/unsold_sensitivity:shared/unitNoneUSD_millions
/operating_model/cells/unsold_sensitivity:shared/valueNone195.0
/operating_model/cells/unsold_sensitivity_high:shared/basisNoneCompany guidance; not a desk forecast.
/operating_model/cells/unsold_sensitivity_high:shared/caseNoneshared
/operating_model/cells/unsold_sensitivity_high:shared/idNoneunsold_sensitivity_high
/operating_model/cells/unsold_sensitivity_high:shared/kindNonemanagement_guidance
/operating_model/cells/unsold_sensitivity_high:shared/labelNoneFY2026 EBITDA sensitivity per $1/MMBtu on unsold cargos high
/operating_model/cells/unsold_sensitivity_high:shared/periodNoneFY2026
/operating_model/cells/unsold_sensitivity_high:shared/source_dateNone2026-08-11
/operating_model/cells/unsold_sensitivity_high:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/unsold_sensitivity_high:shared/unitNoneUSD_millions
/operating_model/cells/unsold_sensitivity_high:shared/valueNone210.0
/operating_model/cells/unsold_sensitivity_low:shared/basisNoneCompany guidance; not a desk forecast.
/operating_model/cells/unsold_sensitivity_low:shared/caseNoneshared
/operating_model/cells/unsold_sensitivity_low:shared/idNoneunsold_sensitivity_low
/operating_model/cells/unsold_sensitivity_low:shared/kindNonemanagement_guidance
/operating_model/cells/unsold_sensitivity_low:shared/labelNoneFY2026 EBITDA sensitivity per $1/MMBtu on unsold cargos low
/operating_model/cells/unsold_sensitivity_low:shared/periodNoneFY2026
/operating_model/cells/unsold_sensitivity_low:shared/source_dateNone2026-08-11
/operating_model/cells/unsold_sensitivity_low:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/unsold_sensitivity_low:shared/unitNoneUSD_millions
/operating_model/cells/unsold_sensitivity_low:shared/valueNone180.0
/operating_model/cells/unsold_sensitivity_sum:shared/basisNoneArithmetic intermediate.
/operating_model/cells/unsold_sensitivity_sum:shared/caseNoneshared
/operating_model/cells/unsold_sensitivity_sum:shared/formula/opNonesum
/operating_model/cells/unsold_sensitivity_sum:shared/formula/refs/0Noneunsold_sensitivity_low
/operating_model/cells/unsold_sensitivity_sum:shared/formula/refs/1Noneunsold_sensitivity_high
/operating_model/cells/unsold_sensitivity_sum:shared/idNoneunsold_sensitivity_sum
/operating_model/cells/unsold_sensitivity_sum:shared/kindNonederived
/operating_model/cells/unsold_sensitivity_sum:shared/labelNoneFY2026 EBITDA sensitivity per $1/MMBtu on unsold cargos endpoint sum
/operating_model/cells/unsold_sensitivity_sum:shared/periodNoneFY2026
/operating_model/cells/unsold_sensitivity_sum:shared/unitNoneUSD_millions
/operating_model/cells/unsold_sensitivity_sum:shared/valueNone390.0
/operating_model/cells/unsold_volume:shared/basisNoneDesk physical-volume equivalent of the $195M midpoint sensitivity for a $1/MMBtu fee move; approximates guidance sensitivity, not disclosed exact cargo size.
/operating_model/cells/unsold_volume:shared/caseNoneshared
/operating_model/cells/unsold_volume:shared/idNoneunsold_volume
/operating_model/cells/unsold_volume:shared/kindNoneassumption
/operating_model/cells/unsold_volume:shared/labelNoneH2 unsold fee-sensitive volume, TBtu
/operating_model/cells/unsold_volume:shared/periodNoneH2 2026
/operating_model/cells/unsold_volume:shared/source_dateNone2026-08-11
/operating_model/cells/unsold_volume:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/operating_model/cells/unsold_volume:shared/unitNoneratio
/operating_model/cells/unsold_volume:shared/valueNone195.0
/operating_model/cells/upside_2026q3_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2026q3_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2026q3_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_adj_ebitda:upside/formula/refs/0Noneupside_2026q3_fee_revenue
/operating_model/cells/upside_2026q3_adj_ebitda:upside/formula/refs/1Noneupside_2026q3_cash_costs
/operating_model/cells/upside_2026q3_adj_ebitda:upside/idNoneupside_2026q3_adj_ebitda
/operating_model/cells/upside_2026q3_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2026q3_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2026q3_adj_ebitda:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_adj_ebitda:upside/valueNone2791.5711
/operating_model/cells/upside_2026q3_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2026q3_capex:upside/caseNoneupside
/operating_model/cells/upside_2026q3_capex:upside/idNoneupside_2026q3_capex
/operating_model/cells/upside_2026q3_capex:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2026q3_capex:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_capex:upside/valueNone3400.0
/operating_model/cells/upside_2026q3_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2026q3_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_cash_after_claims:upside/formula/refs/0Noneupside_2026q3_fcf
/operating_model/cells/upside_2026q3_cash_after_claims:upside/formula/refs/1Noneupside_2026q3_claims
/operating_model/cells/upside_2026q3_cash_after_claims:upside/idNoneupside_2026q3_cash_after_claims
/operating_model/cells/upside_2026q3_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2026q3_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2026q3_cash_after_claims:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_after_claims:upside/valueNone-1613.4326140399999
/operating_model/cells/upside_2026q3_cash_costs:upside/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/upside_2026q3_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_cash_costs:upside/formula/refs/0Noneh2_residual_cost
/operating_model/cells/upside_2026q3_cash_costs:upside/formula/refs/1Noneupside_2026q3_half
/operating_model/cells/upside_2026q3_cash_costs:upside/formula/refs/2Noneupside_2026q3_cost_factor
/operating_model/cells/upside_2026q3_cash_costs:upside/idNoneupside_2026q3_cash_costs
/operating_model/cells/upside_2026q3_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2026q3_cash_costs:upside/labelNoneResidual operating costs net of other contribution
/operating_model/cells/upside_2026q3_cash_costs:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_costs:upside/valueNone583.1269500000001
/operating_model/cells/upside_2026q3_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2026q3_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_interest:upside/idNoneupside_2026q3_cash_interest
/operating_model/cells/upside_2026q3_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2026q3_cash_interest:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_interest:upside/valueNone450.0
/operating_model/cells/upside_2026q3_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_tax:upside/idNoneupside_2026q3_cash_tax
/operating_model/cells/upside_2026q3_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2026q3_cash_tax:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_tax:upside/valueNone100.0
/operating_model/cells/upside_2026q3_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2026q3_cfo:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_cfo:upside/formula/refs/0Noneupside_2026q3_adj_ebitda
/operating_model/cells/upside_2026q3_cfo:upside/formula/refs/1Noneupside_2026q3_cfo_uses
/operating_model/cells/upside_2026q3_cfo:upside/idNoneupside_2026q3_cfo
/operating_model/cells/upside_2026q3_cfo:upside/kindNonederived
/operating_model/cells/upside_2026q3_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2026q3_cfo:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cfo:upside/valueNone2141.5711
/operating_model/cells/upside_2026q3_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2026q3_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_cfo_uses:upside/formula/refs/0Noneupside_2026q3_cash_interest
/operating_model/cells/upside_2026q3_cfo_uses:upside/formula/refs/1Noneupside_2026q3_cash_tax
/operating_model/cells/upside_2026q3_cfo_uses:upside/formula/refs/2Noneupside_2026q3_wc_use
/operating_model/cells/upside_2026q3_cfo_uses:upside/formula/refs/3Noneupside_2026q3_legal_cash_stress
/operating_model/cells/upside_2026q3_cfo_uses:upside/idNoneupside_2026q3_cfo_uses
/operating_model/cells/upside_2026q3_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2026q3_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2026q3_cfo_uses:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cfo_uses:upside/valueNone650.0
/operating_model/cells/upside_2026q3_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2026q3_claims:upside/caseNoneupside
/operating_model/cells/upside_2026q3_claims:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_claims:upside/formula/refs/0Noneupside_2026q3_subsidiary_distributions
/operating_model/cells/upside_2026q3_claims:upside/formula/refs/1Noneupside_2026q3_common_dividends
/operating_model/cells/upside_2026q3_claims:upside/formula/refs/2Noneupside_2026q3_preferred_redemption
/operating_model/cells/upside_2026q3_claims:upside/formula/refs/3Noneupside_2026q3_debt_principal
/operating_model/cells/upside_2026q3_claims:upside/idNoneupside_2026q3_claims
/operating_model/cells/upside_2026q3_claims:upside/kindNonederived
/operating_model/cells/upside_2026q3_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2026q3_claims:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_claims:upside/valueNone355.00371404
/operating_model/cells/upside_2026q3_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2026q3_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2026q3_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2026q3_common_dividends:upside/formula/refs/1Noneupside_2026q3_dividend_share_factor
/operating_model/cells/upside_2026q3_common_dividends:upside/formula/refs/2Noneupside_2026q3_dividend_factor
/operating_model/cells/upside_2026q3_common_dividends:upside/idNoneupside_2026q3_common_dividends
/operating_model/cells/upside_2026q3_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2026q3_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2026q3_common_dividends:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_common_dividends:upside/valueNone100.00371403999999
/operating_model/cells/upside_2026q3_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cost_factor:upside/idNoneupside_2026q3_cost_factor
/operating_model/cells/upside_2026q3_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cost_factor:upside/labelNoneCost delivery stress
/operating_model/cells/upside_2026q3_cost_factor:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q3_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2026q3_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_da:upside/caseNoneupside
/operating_model/cells/upside_2026q3_da:upside/idNoneupside_2026q3_da
/operating_model/cells/upside_2026q3_da:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2026q3_da:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_da:upside/valueNone275.0
/operating_model/cells/upside_2026q3_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2026q3_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2026q3_debt_principal:upside/idNoneupside_2026q3_debt_principal
/operating_model/cells/upside_2026q3_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2026q3_debt_principal:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_debt_principal:upside/valueNone80.0
/operating_model/cells/upside_2026q3_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2026q3_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q3_dividend_factor:upside/idNoneupside_2026q3_dividend_factor
/operating_model/cells/upside_2026q3_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2026q3_dividend_factor:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q3_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/formula/refs/0Noneupside_2026q3_shares
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/idNoneupside_2026q3_dividend_share_factor
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q3_dividend_share_factor:upside/valueNone1.0
/operating_model/cells/upside_2026q3_execution:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_execution:upside/caseNoneupside
/operating_model/cells/upside_2026q3_execution:upside/idNoneupside_2026q3_execution
/operating_model/cells/upside_2026q3_execution:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_execution:upside/labelNoneRecognized volume delivery
/operating_model/cells/upside_2026q3_execution:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_execution:upside/unitNoneratio
/operating_model/cells/upside_2026q3_execution:upside/valueNone1.02
/operating_model/cells/upside_2026q3_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2026q3_fcf:upside/caseNoneupside
/operating_model/cells/upside_2026q3_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_fcf:upside/formula/refs/0Noneupside_2026q3_cfo
/operating_model/cells/upside_2026q3_fcf:upside/formula/refs/1Noneupside_2026q3_capex
/operating_model/cells/upside_2026q3_fcf:upside/idNoneupside_2026q3_fcf
/operating_model/cells/upside_2026q3_fcf:upside/kindNonederived
/operating_model/cells/upside_2026q3_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2026q3_fcf:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_fcf:upside/valueNone-1258.4288999999999
/operating_model/cells/upside_2026q3_fee_revenue:upside/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/upside_2026q3_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_fee_revenue:upside/formula/refs/0Noneupside_2026q3_fixed_fees
/operating_model/cells/upside_2026q3_fee_revenue:upside/formula/refs/1Noneupside_2026q3_merchant_fees
/operating_model/cells/upside_2026q3_fee_revenue:upside/idNoneupside_2026q3_fee_revenue
/operating_model/cells/upside_2026q3_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q3_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2026q3_fee_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_fee_revenue:upside/valueNone3374.69805
/operating_model/cells/upside_2026q3_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2026q3_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2026q3_feed_gas:upside/idNoneupside_2026q3_feed_gas
/operating_model/cells/upside_2026q3_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2026q3_feed_gas:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_feed_gas:upside/valueNone4.0
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/formula/refs/0Noneupside_2026q3_volume
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/formula/refs/1Noneupside_2026q3_feed_gas
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/idNoneupside_2026q3_feed_gas_recovery
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_feed_gas_recovery:upside/valueNone1889.2440000000001
/operating_model/cells/upside_2026q3_fixed_fees:upside/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/upside_2026q3_fixed_fees:upside/caseNoneupside
/operating_model/cells/upside_2026q3_fixed_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_fixed_fees:upside/formula/refs/0Noneupside_2026q3_fixed_volume
/operating_model/cells/upside_2026q3_fixed_fees:upside/formula/refs/1Nonecontracted_fee
/operating_model/cells/upside_2026q3_fixed_fees:upside/idNoneupside_2026q3_fixed_fees
/operating_model/cells/upside_2026q3_fixed_fees:upside/kindNonederived
/operating_model/cells/upside_2026q3_fixed_fees:upside/labelNoneContracted fee revenue
/operating_model/cells/upside_2026q3_fixed_fees:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_fixed_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_fixed_fees:upside/valueNone1882.94805
/operating_model/cells/upside_2026q3_fixed_volume:upside/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/upside_2026q3_fixed_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q3_fixed_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_fixed_volume:upside/formula/refs/0Nonecontracted_volume
/operating_model/cells/upside_2026q3_fixed_volume:upside/formula/refs/1Noneupside_2026q3_half
/operating_model/cells/upside_2026q3_fixed_volume:upside/formula/refs/2Noneupside_2026q3_execution
/operating_model/cells/upside_2026q3_fixed_volume:upside/idNoneupside_2026q3_fixed_volume
/operating_model/cells/upside_2026q3_fixed_volume:upside/kindNonederived
/operating_model/cells/upside_2026q3_fixed_volume:upside/labelNoneContracted fee volume TBtu
/operating_model/cells/upside_2026q3_fixed_volume:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_fixed_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q3_fixed_volume:upside/valueNone372.861
/operating_model/cells/upside_2026q3_half:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_half:upside/caseNoneupside
/operating_model/cells/upside_2026q3_half:upside/idNoneupside_2026q3_half
/operating_model/cells/upside_2026q3_half:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_half:upside/labelNoneH2 quarterly allocation
/operating_model/cells/upside_2026q3_half:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_half:upside/unitNoneratio
/operating_model/cells/upside_2026q3_half:upside/valueNone0.5
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/idNoneupside_2026q3_legal_cash_stress
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2026q3_merchant_fee:upside/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/upside_2026q3_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2026q3_merchant_fee:upside/idNoneupside_2026q3_merchant_fee
/operating_model/cells/upside_2026q3_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_merchant_fee:upside/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/upside_2026q3_merchant_fee:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_merchant_fee:upside/valueNone15.0
/operating_model/cells/upside_2026q3_merchant_fees:upside/basisNoneUnsold price scenario.
/operating_model/cells/upside_2026q3_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2026q3_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_merchant_fees:upside/formula/refs/0Noneupside_2026q3_merchant_volume
/operating_model/cells/upside_2026q3_merchant_fees:upside/formula/refs/1Noneupside_2026q3_merchant_fee
/operating_model/cells/upside_2026q3_merchant_fees:upside/idNoneupside_2026q3_merchant_fees
/operating_model/cells/upside_2026q3_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2026q3_merchant_fees:upside/labelNoneUnsold fee revenue
/operating_model/cells/upside_2026q3_merchant_fees:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_merchant_fees:upside/valueNone1491.75
/operating_model/cells/upside_2026q3_merchant_volume:upside/basisNoneEquivalent volume sensitivity.
/operating_model/cells/upside_2026q3_merchant_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q3_merchant_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_merchant_volume:upside/formula/refs/0Noneunsold_volume
/operating_model/cells/upside_2026q3_merchant_volume:upside/formula/refs/1Noneupside_2026q3_half
/operating_model/cells/upside_2026q3_merchant_volume:upside/formula/refs/2Noneupside_2026q3_execution
/operating_model/cells/upside_2026q3_merchant_volume:upside/idNoneupside_2026q3_merchant_volume
/operating_model/cells/upside_2026q3_merchant_volume:upside/kindNonederived
/operating_model/cells/upside_2026q3_merchant_volume:upside/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/upside_2026q3_merchant_volume:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_merchant_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q3_merchant_volume:upside/valueNone99.45
/operating_model/cells/upside_2026q3_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q3_nci_cash:upside/idNoneupside_2026q3_nci_cash
/operating_model/cells/upside_2026q3_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2026q3_nci_cash:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_nci_cash:upside/valueNone40.0
/operating_model/cells/upside_2026q3_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2026q3_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2026q3_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_noncash_deductions:upside/formula/refs/0Noneupside_2026q3_da
/operating_model/cells/upside_2026q3_noncash_deductions:upside/formula/refs/1Noneupside_2026q3_sbc
/operating_model/cells/upside_2026q3_noncash_deductions:upside/formula/refs/2Noneupside_2026q3_other_adjustments
/operating_model/cells/upside_2026q3_noncash_deductions:upside/idNoneupside_2026q3_noncash_deductions
/operating_model/cells/upside_2026q3_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2026q3_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2026q3_noncash_deductions:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_noncash_deductions:upside/valueNone290.0
/operating_model/cells/upside_2026q3_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2026q3_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2026q3_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/0Noneupside_2026q3_adj_ebitda
/operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/1Noneupside_2026q3_noncash_deductions
/operating_model/cells/upside_2026q3_operating_income:upside/idNoneupside_2026q3_operating_income
/operating_model/cells/upside_2026q3_operating_income:upside/kindNonederived
/operating_model/cells/upside_2026q3_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2026q3_operating_income:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_operating_income:upside/valueNone2501.5711
/operating_model/cells/upside_2026q3_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2026q3_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2026q3_other_adjustments:upside/idNoneupside_2026q3_other_adjustments
/operating_model/cells/upside_2026q3_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2026q3_other_adjustments:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_other_adjustments:upside/valueNone0.0
/operating_model/cells/upside_2026q3_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2026q3_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2026q3_preferred_redemption:upside/idNoneupside_2026q3_preferred_redemption
/operating_model/cells/upside_2026q3_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2026q3_preferred_redemption:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2026q3_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2026q3_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_revenue:upside/formula/refs/0Noneupside_2026q3_fee_revenue
/operating_model/cells/upside_2026q3_revenue:upside/formula/refs/1Noneupside_2026q3_feed_gas_recovery
/operating_model/cells/upside_2026q3_revenue:upside/idNoneupside_2026q3_revenue
/operating_model/cells/upside_2026q3_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q3_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2026q3_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_revenue:upside/valueNone5263.94205
/operating_model/cells/upside_2026q3_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_sbc:upside/caseNoneupside
/operating_model/cells/upside_2026q3_sbc:upside/idNoneupside_2026q3_sbc
/operating_model/cells/upside_2026q3_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2026q3_sbc:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_sbc:upside/valueNone15.0
/operating_model/cells/upside_2026q3_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2026q3_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q3_series_a_cash:upside/idNoneupside_2026q3_series_a_cash
/operating_model/cells/upside_2026q3_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2026q3_series_a_cash:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_series_a_cash:upside/valueNone135.0
/operating_model/cells/upside_2026q3_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2026q3_share_growth:upside/idNoneupside_2026q3_share_growth
/operating_model/cells/upside_2026q3_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2026q3_share_growth:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2026q3_share_growth:upside/valueNone0.0
/operating_model/cells/upside_2026q3_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2026q3_shares:upside/caseNoneupside
/operating_model/cells/upside_2026q3_shares:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2026q3_shares:upside/formula/refs/1Noneupside_2026q3_share_growth
/operating_model/cells/upside_2026q3_shares:upside/idNoneupside_2026q3_shares
/operating_model/cells/upside_2026q3_shares:upside/kindNonederived
/operating_model/cells/upside_2026q3_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2026q3_shares:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2026q3_shares:upside/valueNone2500.092851
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/formula/refs/0Noneupside_2026q3_series_a_cash
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/formula/refs/1Noneupside_2026q3_nci_cash
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/idNoneupside_2026q3_subsidiary_distributions
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_subsidiary_distributions:upside/valueNone175.0
/operating_model/cells/upside_2026q3_volume:upside/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/upside_2026q3_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q3_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_volume:upside/formula/refs/0Noneh2_volume
/operating_model/cells/upside_2026q3_volume:upside/formula/refs/1Noneupside_2026q3_half
/operating_model/cells/upside_2026q3_volume:upside/formula/refs/2Noneupside_2026q3_execution
/operating_model/cells/upside_2026q3_volume:upside/idNoneupside_2026q3_volume
/operating_model/cells/upside_2026q3_volume:upside/kindNonederived
/operating_model/cells/upside_2026q3_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2026q3_volume:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q3_volume:upside/valueNone472.31100000000004
/operating_model/cells/upside_2026q3_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2026q3_wc_use:upside/idNoneupside_2026q3_wc_use
/operating_model/cells/upside_2026q3_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2026q3_wc_use:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_wc_use:upside/valueNone100.0
/operating_model/cells/upside_2026q4_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2026q4_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2026q4_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_adj_ebitda:upside/formula/refs/0Noneupside_2026q4_fee_revenue
/operating_model/cells/upside_2026q4_adj_ebitda:upside/formula/refs/1Noneupside_2026q4_cash_costs
/operating_model/cells/upside_2026q4_adj_ebitda:upside/idNoneupside_2026q4_adj_ebitda
/operating_model/cells/upside_2026q4_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2026q4_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2026q4_adj_ebitda:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_adj_ebitda:upside/valueNone2791.5711
/operating_model/cells/upside_2026q4_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2026q4_capex:upside/caseNoneupside
/operating_model/cells/upside_2026q4_capex:upside/idNoneupside_2026q4_capex
/operating_model/cells/upside_2026q4_capex:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2026q4_capex:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_capex:upside/valueNone3500.0
/operating_model/cells/upside_2026q4_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2026q4_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_cash_after_claims:upside/formula/refs/0Noneupside_2026q4_fcf
/operating_model/cells/upside_2026q4_cash_after_claims:upside/formula/refs/1Noneupside_2026q4_claims
/operating_model/cells/upside_2026q4_cash_after_claims:upside/idNoneupside_2026q4_cash_after_claims
/operating_model/cells/upside_2026q4_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2026q4_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2026q4_cash_after_claims:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_after_claims:upside/valueNone-1553.5526140399998
/operating_model/cells/upside_2026q4_cash_costs:upside/basisNoneGuidance calibration; not an independently disclosed cost forecast.
/operating_model/cells/upside_2026q4_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_cash_costs:upside/formula/refs/0Noneh2_residual_cost
/operating_model/cells/upside_2026q4_cash_costs:upside/formula/refs/1Noneupside_2026q4_half
/operating_model/cells/upside_2026q4_cash_costs:upside/formula/refs/2Noneupside_2026q4_cost_factor
/operating_model/cells/upside_2026q4_cash_costs:upside/idNoneupside_2026q4_cash_costs
/operating_model/cells/upside_2026q4_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2026q4_cash_costs:upside/labelNoneResidual operating costs net of other contribution
/operating_model/cells/upside_2026q4_cash_costs:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_costs:upside/valueNone583.1269500000001
/operating_model/cells/upside_2026q4_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2026q4_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_interest:upside/idNoneupside_2026q4_cash_interest
/operating_model/cells/upside_2026q4_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2026q4_cash_interest:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_interest:upside/valueNone475.0
/operating_model/cells/upside_2026q4_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_tax:upside/idNoneupside_2026q4_cash_tax
/operating_model/cells/upside_2026q4_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2026q4_cash_tax:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_tax:upside/valueNone100.0
/operating_model/cells/upside_2026q4_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2026q4_cfo:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_cfo:upside/formula/refs/0Noneupside_2026q4_adj_ebitda
/operating_model/cells/upside_2026q4_cfo:upside/formula/refs/1Noneupside_2026q4_cfo_uses
/operating_model/cells/upside_2026q4_cfo:upside/idNoneupside_2026q4_cfo
/operating_model/cells/upside_2026q4_cfo:upside/kindNonederived
/operating_model/cells/upside_2026q4_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2026q4_cfo:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cfo:upside/valueNone2166.5711
/operating_model/cells/upside_2026q4_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2026q4_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_cfo_uses:upside/formula/refs/0Noneupside_2026q4_cash_interest
/operating_model/cells/upside_2026q4_cfo_uses:upside/formula/refs/1Noneupside_2026q4_cash_tax
/operating_model/cells/upside_2026q4_cfo_uses:upside/formula/refs/2Noneupside_2026q4_wc_use
/operating_model/cells/upside_2026q4_cfo_uses:upside/formula/refs/3Noneupside_2026q4_legal_cash_stress
/operating_model/cells/upside_2026q4_cfo_uses:upside/idNoneupside_2026q4_cfo_uses
/operating_model/cells/upside_2026q4_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2026q4_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2026q4_cfo_uses:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cfo_uses:upside/valueNone625.0
/operating_model/cells/upside_2026q4_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2026q4_claims:upside/caseNoneupside
/operating_model/cells/upside_2026q4_claims:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_claims:upside/formula/refs/0Noneupside_2026q4_subsidiary_distributions
/operating_model/cells/upside_2026q4_claims:upside/formula/refs/1Noneupside_2026q4_common_dividends
/operating_model/cells/upside_2026q4_claims:upside/formula/refs/2Noneupside_2026q4_preferred_redemption
/operating_model/cells/upside_2026q4_claims:upside/formula/refs/3Noneupside_2026q4_debt_principal
/operating_model/cells/upside_2026q4_claims:upside/idNoneupside_2026q4_claims
/operating_model/cells/upside_2026q4_claims:upside/kindNonederived
/operating_model/cells/upside_2026q4_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2026q4_claims:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_claims:upside/valueNone220.12371403999998
/operating_model/cells/upside_2026q4_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2026q4_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2026q4_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2026q4_common_dividends:upside/formula/refs/1Noneupside_2026q4_dividend_share_factor
/operating_model/cells/upside_2026q4_common_dividends:upside/formula/refs/2Noneupside_2026q4_dividend_factor
/operating_model/cells/upside_2026q4_common_dividends:upside/idNoneupside_2026q4_common_dividends
/operating_model/cells/upside_2026q4_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2026q4_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2026q4_common_dividends:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_common_dividends:upside/valueNone100.12371403999998
/operating_model/cells/upside_2026q4_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cost_factor:upside/idNoneupside_2026q4_cost_factor
/operating_model/cells/upside_2026q4_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cost_factor:upside/labelNoneCost delivery stress
/operating_model/cells/upside_2026q4_cost_factor:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q4_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2026q4_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_da:upside/caseNoneupside
/operating_model/cells/upside_2026q4_da:upside/idNoneupside_2026q4_da
/operating_model/cells/upside_2026q4_da:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2026q4_da:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_da:upside/valueNone295.0
/operating_model/cells/upside_2026q4_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2026q4_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2026q4_debt_principal:upside/idNoneupside_2026q4_debt_principal
/operating_model/cells/upside_2026q4_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2026q4_debt_principal:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_debt_principal:upside/valueNone80.0
/operating_model/cells/upside_2026q4_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2026q4_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q4_dividend_factor:upside/idNoneupside_2026q4_dividend_factor
/operating_model/cells/upside_2026q4_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2026q4_dividend_factor:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q4_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/formula/refs/0Noneupside_2026q4_shares
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/idNoneupside_2026q4_dividend_share_factor
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2026q4_dividend_share_factor:upside/valueNone1.0011999554331752
/operating_model/cells/upside_2026q4_execution:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_execution:upside/caseNoneupside
/operating_model/cells/upside_2026q4_execution:upside/idNoneupside_2026q4_execution
/operating_model/cells/upside_2026q4_execution:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_execution:upside/labelNoneRecognized volume delivery
/operating_model/cells/upside_2026q4_execution:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_execution:upside/unitNoneratio
/operating_model/cells/upside_2026q4_execution:upside/valueNone1.02
/operating_model/cells/upside_2026q4_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2026q4_fcf:upside/caseNoneupside
/operating_model/cells/upside_2026q4_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_fcf:upside/formula/refs/0Noneupside_2026q4_cfo
/operating_model/cells/upside_2026q4_fcf:upside/formula/refs/1Noneupside_2026q4_capex
/operating_model/cells/upside_2026q4_fcf:upside/idNoneupside_2026q4_fcf
/operating_model/cells/upside_2026q4_fcf:upside/kindNonederived
/operating_model/cells/upside_2026q4_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2026q4_fcf:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_fcf:upside/valueNone-1333.4288999999999
/operating_model/cells/upside_2026q4_fee_revenue:upside/basisNoneCalibrated annual guidance already incorporates expected Phase 1 COD timing.
/operating_model/cells/upside_2026q4_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_fee_revenue:upside/formula/refs/0Noneupside_2026q4_fixed_fees
/operating_model/cells/upside_2026q4_fee_revenue:upside/formula/refs/1Noneupside_2026q4_merchant_fees
/operating_model/cells/upside_2026q4_fee_revenue:upside/idNoneupside_2026q4_fee_revenue
/operating_model/cells/upside_2026q4_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q4_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2026q4_fee_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_fee_revenue:upside/valueNone3374.69805
/operating_model/cells/upside_2026q4_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2026q4_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2026q4_feed_gas:upside/idNoneupside_2026q4_feed_gas
/operating_model/cells/upside_2026q4_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2026q4_feed_gas:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_feed_gas:upside/valueNone4.0
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/formula/refs/0Noneupside_2026q4_volume
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/formula/refs/1Noneupside_2026q4_feed_gas
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/idNoneupside_2026q4_feed_gas_recovery
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_feed_gas_recovery:upside/valueNone1889.2440000000001
/operating_model/cells/upside_2026q4_fixed_fees:upside/basisNoneContracted 2026 fee is distinct from feed-gas revenue.
/operating_model/cells/upside_2026q4_fixed_fees:upside/caseNoneupside
/operating_model/cells/upside_2026q4_fixed_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_fixed_fees:upside/formula/refs/0Noneupside_2026q4_fixed_volume
/operating_model/cells/upside_2026q4_fixed_fees:upside/formula/refs/1Nonecontracted_fee
/operating_model/cells/upside_2026q4_fixed_fees:upside/idNoneupside_2026q4_fixed_fees
/operating_model/cells/upside_2026q4_fixed_fees:upside/kindNonederived
/operating_model/cells/upside_2026q4_fixed_fees:upside/labelNoneContracted fee revenue
/operating_model/cells/upside_2026q4_fixed_fees:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_fixed_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_fixed_fees:upside/valueNone1882.94805
/operating_model/cells/upside_2026q4_fixed_volume:upside/basisNone2026 contracted mix, not long-term SPA-only mix.
/operating_model/cells/upside_2026q4_fixed_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q4_fixed_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_fixed_volume:upside/formula/refs/0Nonecontracted_volume
/operating_model/cells/upside_2026q4_fixed_volume:upside/formula/refs/1Noneupside_2026q4_half
/operating_model/cells/upside_2026q4_fixed_volume:upside/formula/refs/2Noneupside_2026q4_execution
/operating_model/cells/upside_2026q4_fixed_volume:upside/idNoneupside_2026q4_fixed_volume
/operating_model/cells/upside_2026q4_fixed_volume:upside/kindNonederived
/operating_model/cells/upside_2026q4_fixed_volume:upside/labelNoneContracted fee volume TBtu
/operating_model/cells/upside_2026q4_fixed_volume:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_fixed_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q4_fixed_volume:upside/valueNone372.861
/operating_model/cells/upside_2026q4_half:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_half:upside/caseNoneupside
/operating_model/cells/upside_2026q4_half:upside/idNoneupside_2026q4_half
/operating_model/cells/upside_2026q4_half:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_half:upside/labelNoneH2 quarterly allocation
/operating_model/cells/upside_2026q4_half:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_half:upside/unitNoneratio
/operating_model/cells/upside_2026q4_half:upside/valueNone0.5
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/idNoneupside_2026q4_legal_cash_stress
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2026q4_merchant_fee:upside/basisNoneNormalized $M per TBtu; equivalent to dollars per MMBtu. Base is company guidance midpoint.
/operating_model/cells/upside_2026q4_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2026q4_merchant_fee:upside/idNoneupside_2026q4_merchant_fee
/operating_model/cells/upside_2026q4_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_merchant_fee:upside/labelNoneUnsold fee revenue per TBtu
/operating_model/cells/upside_2026q4_merchant_fee:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_merchant_fee:upside/valueNone15.0
/operating_model/cells/upside_2026q4_merchant_fees:upside/basisNoneUnsold price scenario.
/operating_model/cells/upside_2026q4_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2026q4_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_merchant_fees:upside/formula/refs/0Noneupside_2026q4_merchant_volume
/operating_model/cells/upside_2026q4_merchant_fees:upside/formula/refs/1Noneupside_2026q4_merchant_fee
/operating_model/cells/upside_2026q4_merchant_fees:upside/idNoneupside_2026q4_merchant_fees
/operating_model/cells/upside_2026q4_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2026q4_merchant_fees:upside/labelNoneUnsold fee revenue
/operating_model/cells/upside_2026q4_merchant_fees:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_merchant_fees:upside/valueNone1491.75
/operating_model/cells/upside_2026q4_merchant_volume:upside/basisNoneEquivalent volume sensitivity.
/operating_model/cells/upside_2026q4_merchant_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q4_merchant_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_merchant_volume:upside/formula/refs/0Noneunsold_volume
/operating_model/cells/upside_2026q4_merchant_volume:upside/formula/refs/1Noneupside_2026q4_half
/operating_model/cells/upside_2026q4_merchant_volume:upside/formula/refs/2Noneupside_2026q4_execution
/operating_model/cells/upside_2026q4_merchant_volume:upside/idNoneupside_2026q4_merchant_volume
/operating_model/cells/upside_2026q4_merchant_volume:upside/kindNonederived
/operating_model/cells/upside_2026q4_merchant_volume:upside/labelNoneUnsold fee-sensitive TBtu
/operating_model/cells/upside_2026q4_merchant_volume:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_merchant_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q4_merchant_volume:upside/valueNone99.45
/operating_model/cells/upside_2026q4_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q4_nci_cash:upside/idNoneupside_2026q4_nci_cash
/operating_model/cells/upside_2026q4_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2026q4_nci_cash:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_nci_cash:upside/valueNone40.0
/operating_model/cells/upside_2026q4_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2026q4_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2026q4_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_noncash_deductions:upside/formula/refs/0Noneupside_2026q4_da
/operating_model/cells/upside_2026q4_noncash_deductions:upside/formula/refs/1Noneupside_2026q4_sbc
/operating_model/cells/upside_2026q4_noncash_deductions:upside/formula/refs/2Noneupside_2026q4_other_adjustments
/operating_model/cells/upside_2026q4_noncash_deductions:upside/idNoneupside_2026q4_noncash_deductions
/operating_model/cells/upside_2026q4_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2026q4_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2026q4_noncash_deductions:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_noncash_deductions:upside/valueNone312.0
/operating_model/cells/upside_2026q4_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2026q4_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2026q4_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/0Noneupside_2026q4_adj_ebitda
/operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/1Noneupside_2026q4_noncash_deductions
/operating_model/cells/upside_2026q4_operating_income:upside/idNoneupside_2026q4_operating_income
/operating_model/cells/upside_2026q4_operating_income:upside/kindNonederived
/operating_model/cells/upside_2026q4_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2026q4_operating_income:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_operating_income:upside/valueNone2479.5711
/operating_model/cells/upside_2026q4_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2026q4_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2026q4_other_adjustments:upside/idNoneupside_2026q4_other_adjustments
/operating_model/cells/upside_2026q4_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2026q4_other_adjustments:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_other_adjustments:upside/valueNone0.0
/operating_model/cells/upside_2026q4_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2026q4_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2026q4_preferred_redemption:upside/idNoneupside_2026q4_preferred_redemption
/operating_model/cells/upside_2026q4_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2026q4_preferred_redemption:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2026q4_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2026q4_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_revenue:upside/formula/refs/0Noneupside_2026q4_fee_revenue
/operating_model/cells/upside_2026q4_revenue:upside/formula/refs/1Noneupside_2026q4_feed_gas_recovery
/operating_model/cells/upside_2026q4_revenue:upside/idNoneupside_2026q4_revenue
/operating_model/cells/upside_2026q4_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q4_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2026q4_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_revenue:upside/valueNone5263.94205
/operating_model/cells/upside_2026q4_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_sbc:upside/caseNoneupside
/operating_model/cells/upside_2026q4_sbc:upside/idNoneupside_2026q4_sbc
/operating_model/cells/upside_2026q4_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2026q4_sbc:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_sbc:upside/valueNone17.0
/operating_model/cells/upside_2026q4_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2026q4_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q4_series_a_cash:upside/idNoneupside_2026q4_series_a_cash
/operating_model/cells/upside_2026q4_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2026q4_series_a_cash:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_series_a_cash:upside/valueNone0.0
/operating_model/cells/upside_2026q4_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2026q4_share_growth:upside/idNoneupside_2026q4_share_growth
/operating_model/cells/upside_2026q4_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2026q4_share_growth:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2026q4_share_growth:upside/valueNone3.0
/operating_model/cells/upside_2026q4_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2026q4_shares:upside/caseNoneupside
/operating_model/cells/upside_2026q4_shares:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2026q4_shares:upside/formula/refs/1Noneupside_2026q4_share_growth
/operating_model/cells/upside_2026q4_shares:upside/idNoneupside_2026q4_shares
/operating_model/cells/upside_2026q4_shares:upside/kindNonederived
/operating_model/cells/upside_2026q4_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2026q4_shares:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2026q4_shares:upside/valueNone2503.092851
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/formula/refs/0Noneupside_2026q4_series_a_cash
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/formula/refs/1Noneupside_2026q4_nci_cash
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/idNoneupside_2026q4_subsidiary_distributions
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_subsidiary_distributions:upside/valueNone40.0
/operating_model/cells/upside_2026q4_volume:upside/basisNoneEqual H2 baseline allocation; cargo acceptance can change timing.
/operating_model/cells/upside_2026q4_volume:upside/caseNoneupside
/operating_model/cells/upside_2026q4_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_volume:upside/formula/refs/0Noneh2_volume
/operating_model/cells/upside_2026q4_volume:upside/formula/refs/1Noneupside_2026q4_half
/operating_model/cells/upside_2026q4_volume:upside/formula/refs/2Noneupside_2026q4_execution
/operating_model/cells/upside_2026q4_volume:upside/idNoneupside_2026q4_volume
/operating_model/cells/upside_2026q4_volume:upside/kindNonederived
/operating_model/cells/upside_2026q4_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2026q4_volume:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_volume:upside/unitNoneratio
/operating_model/cells/upside_2026q4_volume:upside/valueNone472.31100000000004
/operating_model/cells/upside_2026q4_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2026q4_wc_use:upside/idNoneupside_2026q4_wc_use
/operating_model/cells/upside_2026q4_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2026q4_wc_use:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_wc_use:upside/valueNone50.0
/operating_model/cells/upside_2027q1_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2027q1_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2027q1_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_adj_ebitda:upside/formula/refs/0Noneupside_2027q1_fee_revenue
/operating_model/cells/upside_2027q1_adj_ebitda:upside/formula/refs/1Noneupside_2027q1_cash_costs
/operating_model/cells/upside_2027q1_adj_ebitda:upside/idNoneupside_2027q1_adj_ebitda
/operating_model/cells/upside_2027q1_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2027q1_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2027q1_adj_ebitda:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_adj_ebitda:upside/valueNone3090.88325
/operating_model/cells/upside_2027q1_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2027q1_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q1_capex:upside/idNoneupside_2027q1_capex
/operating_model/cells/upside_2027q1_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2027q1_capex:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_capex:upside/valueNone3200.0
/operating_model/cells/upside_2027q1_cargo_baseline:upside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/upside_2027q1_cargo_baseline:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cargo_baseline:upside/idNoneupside_2027q1_cargo_baseline
/operating_model/cells/upside_2027q1_cargo_baseline:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cargo_baseline:upside/labelNoneStandalone project export-cargo plan
/operating_model/cells/upside_2027q1_cargo_baseline:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cargo_baseline:upside/unitNoneratio
/operating_model/cells/upside_2027q1_cargo_baseline:upside/valueNone130.0
/operating_model/cells/upside_2027q1_cargos:upside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/upside_2027q1_cargos:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cargos:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_cargos:upside/formula/refs/0Noneupside_2027q1_cargo_baseline
/operating_model/cells/upside_2027q1_cargos:upside/formula/refs/1Noneupside_2027q1_volume_factor
/operating_model/cells/upside_2027q1_cargos:upside/idNoneupside_2027q1_cargos
/operating_model/cells/upside_2027q1_cargos:upside/kindNonederived
/operating_model/cells/upside_2027q1_cargos:upside/labelNoneExported cargos
/operating_model/cells/upside_2027q1_cargos:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cargos:upside/unitNoneratio
/operating_model/cells/upside_2027q1_cargos:upside/valueNone140.4
/operating_model/cells/upside_2027q1_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2027q1_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_cash_after_claims:upside/formula/refs/0Noneupside_2027q1_fcf
/operating_model/cells/upside_2027q1_cash_after_claims:upside/formula/refs/1Noneupside_2027q1_claims
/operating_model/cells/upside_2027q1_cash_after_claims:upside/idNoneupside_2027q1_cash_after_claims
/operating_model/cells/upside_2027q1_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2027q1_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2027q1_cash_after_claims:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_after_claims:upside/valueNone-1259.3604640400001
/operating_model/cells/upside_2027q1_cash_costs:upside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/upside_2027q1_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_cash_costs:upside/formula/refs/0Noneupside_2027q1_cost_budget
/operating_model/cells/upside_2027q1_cash_costs:upside/formula/refs/1Noneupside_2027q1_cost_factor
/operating_model/cells/upside_2027q1_cash_costs:upside/idNoneupside_2027q1_cash_costs
/operating_model/cells/upside_2027q1_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2027q1_cash_costs:upside/labelNoneOperating costs net of other contribution
/operating_model/cells/upside_2027q1_cash_costs:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_costs:upside/valueNone637.0
/operating_model/cells/upside_2027q1_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2027q1_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_interest:upside/idNoneupside_2027q1_cash_interest
/operating_model/cells/upside_2027q1_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2027q1_cash_interest:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_interest:upside/valueNone500.0
/operating_model/cells/upside_2027q1_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_tax:upside/idNoneupside_2027q1_cash_tax
/operating_model/cells/upside_2027q1_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2027q1_cash_tax:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_tax:upside/valueNone120.0
/operating_model/cells/upside_2027q1_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2027q1_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_cfo:upside/formula/refs/0Noneupside_2027q1_adj_ebitda
/operating_model/cells/upside_2027q1_cfo:upside/formula/refs/1Noneupside_2027q1_cfo_uses
/operating_model/cells/upside_2027q1_cfo:upside/idNoneupside_2027q1_cfo
/operating_model/cells/upside_2027q1_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q1_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q1_cfo:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cfo:upside/valueNone2370.88325
/operating_model/cells/upside_2027q1_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2027q1_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_cfo_uses:upside/formula/refs/0Noneupside_2027q1_cash_interest
/operating_model/cells/upside_2027q1_cfo_uses:upside/formula/refs/1Noneupside_2027q1_cash_tax
/operating_model/cells/upside_2027q1_cfo_uses:upside/formula/refs/2Noneupside_2027q1_wc_use
/operating_model/cells/upside_2027q1_cfo_uses:upside/formula/refs/3Noneupside_2027q1_legal_cash_stress
/operating_model/cells/upside_2027q1_cfo_uses:upside/idNoneupside_2027q1_cfo_uses
/operating_model/cells/upside_2027q1_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2027q1_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2027q1_cfo_uses:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cfo_uses:upside/valueNone720.0
/operating_model/cells/upside_2027q1_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2027q1_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q1_claims:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_claims:upside/formula/refs/0Noneupside_2027q1_subsidiary_distributions
/operating_model/cells/upside_2027q1_claims:upside/formula/refs/1Noneupside_2027q1_common_dividends
/operating_model/cells/upside_2027q1_claims:upside/formula/refs/2Noneupside_2027q1_preferred_redemption
/operating_model/cells/upside_2027q1_claims:upside/formula/refs/3Noneupside_2027q1_debt_principal
/operating_model/cells/upside_2027q1_claims:upside/idNoneupside_2027q1_claims
/operating_model/cells/upside_2027q1_claims:upside/kindNonederived
/operating_model/cells/upside_2027q1_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2027q1_claims:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_claims:upside/valueNone430.24371404
/operating_model/cells/upside_2027q1_commission_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q1_commission_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q1_commission_fee:upside/idNoneupside_2027q1_commission_fee
/operating_model/cells/upside_2027q1_commission_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_commission_fee:upside/labelNonecommission fee revenue per TBtu
/operating_model/cells/upside_2027q1_commission_fee:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_commission_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_commission_fee:upside/valueNone7.0
/operating_model/cells/upside_2027q1_commission_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q1_commission_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q1_commission_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_commission_fees:upside/formula/refs/0Noneupside_2027q1_volume
/operating_model/cells/upside_2027q1_commission_fees:upside/formula/refs/1Noneupside_2027q1_commission_share
/operating_model/cells/upside_2027q1_commission_fees:upside/formula/refs/2Noneupside_2027q1_commission_fee
/operating_model/cells/upside_2027q1_commission_fees:upside/idNoneupside_2027q1_commission_fees
/operating_model/cells/upside_2027q1_commission_fees:upside/kindNonederived
/operating_model/cells/upside_2027q1_commission_fees:upside/labelNonecommission fee revenue
/operating_model/cells/upside_2027q1_commission_fees:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_commission_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_commission_fees:upside/valueNone361.1790000000001
/operating_model/cells/upside_2027q1_commission_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_commission_share:upside/caseNoneupside
/operating_model/cells/upside_2027q1_commission_share:upside/idNoneupside_2027q1_commission_share
/operating_model/cells/upside_2027q1_commission_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_commission_share:upside/labelNonePrecontracted commissioning share
/operating_model/cells/upside_2027q1_commission_share:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_commission_share:upside/unitNoneratio
/operating_model/cells/upside_2027q1_commission_share:upside/valueNone0.1
/operating_model/cells/upside_2027q1_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2027q1_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2027q1_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2027q1_common_dividends:upside/formula/refs/1Noneupside_2027q1_dividend_share_factor
/operating_model/cells/upside_2027q1_common_dividends:upside/formula/refs/2Noneupside_2027q1_dividend_factor
/operating_model/cells/upside_2027q1_common_dividends:upside/idNoneupside_2027q1_common_dividends
/operating_model/cells/upside_2027q1_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2027q1_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2027q1_common_dividends:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_common_dividends:upside/valueNone100.24371403999999
/operating_model/cells/upside_2027q1_cost_budget:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cost_budget:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cost_budget:upside/idNoneupside_2027q1_cost_budget
/operating_model/cells/upside_2027q1_cost_budget:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cost_budget:upside/labelNoneOperating cost/contribution budget
/operating_model/cells/upside_2027q1_cost_budget:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cost_budget:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cost_budget:upside/valueNone650.0
/operating_model/cells/upside_2027q1_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cost_factor:upside/idNoneupside_2027q1_cost_factor
/operating_model/cells/upside_2027q1_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cost_factor:upside/labelNoneCost execution stress
/operating_model/cells/upside_2027q1_cost_factor:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q1_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2027q1_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_da:upside/caseNoneupside
/operating_model/cells/upside_2027q1_da:upside/idNoneupside_2027q1_da
/operating_model/cells/upside_2027q1_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2027q1_da:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_da:upside/valueNone315.0
/operating_model/cells/upside_2027q1_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2027q1_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2027q1_debt_principal:upside/idNoneupside_2027q1_debt_principal
/operating_model/cells/upside_2027q1_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2027q1_debt_principal:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_debt_principal:upside/valueNone150.0
/operating_model/cells/upside_2027q1_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2027q1_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q1_dividend_factor:upside/idNoneupside_2027q1_dividend_factor
/operating_model/cells/upside_2027q1_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2027q1_dividend_factor:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q1_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/formula/refs/0Noneupside_2027q1_shares
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/idNoneupside_2027q1_dividend_share_factor
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q1_dividend_share_factor:upside/valueNone1.0023999108663504
/operating_model/cells/upside_2027q1_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2027q1_fcf:upside/caseNoneupside
/operating_model/cells/upside_2027q1_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_fcf:upside/formula/refs/0Noneupside_2027q1_cfo
/operating_model/cells/upside_2027q1_fcf:upside/formula/refs/1Noneupside_2027q1_capex
/operating_model/cells/upside_2027q1_fcf:upside/idNoneupside_2027q1_fcf
/operating_model/cells/upside_2027q1_fcf:upside/kindNonederived
/operating_model/cells/upside_2027q1_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2027q1_fcf:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_fcf:upside/valueNone-829.1167500000001
/operating_model/cells/upside_2027q1_fee_revenue:upside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/upside_2027q1_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_fee_revenue:upside/formula/refs/0Noneupside_2027q1_spa_fees
/operating_model/cells/upside_2027q1_fee_revenue:upside/formula/refs/1Noneupside_2027q1_commission_fees
/operating_model/cells/upside_2027q1_fee_revenue:upside/formula/refs/2Noneupside_2027q1_merchant_fees
/operating_model/cells/upside_2027q1_fee_revenue:upside/idNoneupside_2027q1_fee_revenue
/operating_model/cells/upside_2027q1_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q1_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2027q1_fee_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_fee_revenue:upside/valueNone3727.88325
/operating_model/cells/upside_2027q1_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2027q1_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2027q1_feed_gas:upside/idNoneupside_2027q1_feed_gas
/operating_model/cells/upside_2027q1_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2027q1_feed_gas:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_feed_gas:upside/valueNone3.5
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/formula/refs/0Noneupside_2027q1_volume
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/formula/refs/1Noneupside_2027q1_feed_gas
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/idNoneupside_2027q1_feed_gas_recovery
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_feed_gas_recovery:upside/valueNone1805.895
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/idNoneupside_2027q1_legal_cash_stress
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2027q1_merchant_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q1_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q1_merchant_fee:upside/idNoneupside_2027q1_merchant_fee
/operating_model/cells/upside_2027q1_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_merchant_fee:upside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/upside_2027q1_merchant_fee:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_merchant_fee:upside/valueNone12.0
/operating_model/cells/upside_2027q1_merchant_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q1_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q1_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_merchant_fees:upside/formula/refs/0Noneupside_2027q1_volume
/operating_model/cells/upside_2027q1_merchant_fees:upside/formula/refs/1Noneupside_2027q1_merchant_share
/operating_model/cells/upside_2027q1_merchant_fees:upside/formula/refs/2Noneupside_2027q1_merchant_fee
/operating_model/cells/upside_2027q1_merchant_fees:upside/idNoneupside_2027q1_merchant_fees
/operating_model/cells/upside_2027q1_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2027q1_merchant_fees:upside/labelNonemerchant fee revenue
/operating_model/cells/upside_2027q1_merchant_fees:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_merchant_fees:upside/valueNone2786.238
/operating_model/cells/upside_2027q1_merchant_share:upside/basisNoneNo double-counted sales mix.
/operating_model/cells/upside_2027q1_merchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q1_merchant_share:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_merchant_share:upside/formula/refs/0Noneupside_2027q1_one
/operating_model/cells/upside_2027q1_merchant_share:upside/formula/refs/1Noneupside_2027q1_nonmerchant_share
/operating_model/cells/upside_2027q1_merchant_share:upside/idNoneupside_2027q1_merchant_share
/operating_model/cells/upside_2027q1_merchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q1_merchant_share:upside/labelNoneRemaining merchant volume share
/operating_model/cells/upside_2027q1_merchant_share:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_merchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q1_merchant_share:upside/valueNone0.44999999999999996
/operating_model/cells/upside_2027q1_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q1_nci_cash:upside/idNoneupside_2027q1_nci_cash
/operating_model/cells/upside_2027q1_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2027q1_nci_cash:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_nci_cash:upside/valueNone45.0
/operating_model/cells/upside_2027q1_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2027q1_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2027q1_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_noncash_deductions:upside/formula/refs/0Noneupside_2027q1_da
/operating_model/cells/upside_2027q1_noncash_deductions:upside/formula/refs/1Noneupside_2027q1_sbc
/operating_model/cells/upside_2027q1_noncash_deductions:upside/formula/refs/2Noneupside_2027q1_other_adjustments
/operating_model/cells/upside_2027q1_noncash_deductions:upside/idNoneupside_2027q1_noncash_deductions
/operating_model/cells/upside_2027q1_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2027q1_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2027q1_noncash_deductions:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_noncash_deductions:upside/valueNone339.0
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/basisNoneMutually exclusive price buckets.
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/formula/refs/0Noneupside_2027q1_spa_share
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/formula/refs/1Noneupside_2027q1_commission_share
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/idNoneupside_2027q1_nonmerchant_share
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q1_nonmerchant_share:upside/valueNone0.55
/operating_model/cells/upside_2027q1_one:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_one:upside/caseNoneupside
/operating_model/cells/upside_2027q1_one:upside/idNoneupside_2027q1_one
/operating_model/cells/upside_2027q1_one:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_one:upside/labelNoneAll recognized volume
/operating_model/cells/upside_2027q1_one:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_one:upside/unitNoneratio
/operating_model/cells/upside_2027q1_one:upside/valueNone1.0
/operating_model/cells/upside_2027q1_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2027q1_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q1_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/0Noneupside_2027q1_adj_ebitda
/operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/1Noneupside_2027q1_noncash_deductions
/operating_model/cells/upside_2027q1_operating_income:upside/idNoneupside_2027q1_operating_income
/operating_model/cells/upside_2027q1_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q1_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2027q1_operating_income:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_operating_income:upside/valueNone2751.88325
/operating_model/cells/upside_2027q1_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2027q1_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2027q1_other_adjustments:upside/idNoneupside_2027q1_other_adjustments
/operating_model/cells/upside_2027q1_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2027q1_other_adjustments:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_other_adjustments:upside/valueNone5.0
/operating_model/cells/upside_2027q1_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2027q1_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2027q1_preferred_redemption:upside/idNoneupside_2027q1_preferred_redemption
/operating_model/cells/upside_2027q1_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2027q1_preferred_redemption:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2027q1_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2027q1_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_revenue:upside/formula/refs/0Noneupside_2027q1_fee_revenue
/operating_model/cells/upside_2027q1_revenue:upside/formula/refs/1Noneupside_2027q1_feed_gas_recovery
/operating_model/cells/upside_2027q1_revenue:upside/idNoneupside_2027q1_revenue
/operating_model/cells/upside_2027q1_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q1_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2027q1_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_revenue:upside/valueNone5533.778249999999
/operating_model/cells/upside_2027q1_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q1_sbc:upside/idNoneupside_2027q1_sbc
/operating_model/cells/upside_2027q1_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2027q1_sbc:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_sbc:upside/valueNone19.0
/operating_model/cells/upside_2027q1_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2027q1_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q1_series_a_cash:upside/idNoneupside_2027q1_series_a_cash
/operating_model/cells/upside_2027q1_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2027q1_series_a_cash:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_series_a_cash:upside/valueNone135.0
/operating_model/cells/upside_2027q1_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2027q1_share_growth:upside/idNoneupside_2027q1_share_growth
/operating_model/cells/upside_2027q1_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2027q1_share_growth:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q1_share_growth:upside/valueNone6.0
/operating_model/cells/upside_2027q1_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2027q1_shares:upside/caseNoneupside
/operating_model/cells/upside_2027q1_shares:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2027q1_shares:upside/formula/refs/1Noneupside_2027q1_share_growth
/operating_model/cells/upside_2027q1_shares:upside/idNoneupside_2027q1_shares
/operating_model/cells/upside_2027q1_shares:upside/kindNonederived
/operating_model/cells/upside_2027q1_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2027q1_shares:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q1_shares:upside/valueNone2506.092851
/operating_model/cells/upside_2027q1_spa_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q1_spa_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q1_spa_fee:upside/idNoneupside_2027q1_spa_fee
/operating_model/cells/upside_2027q1_spa_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_spa_fee:upside/labelNonespa fee revenue per TBtu
/operating_model/cells/upside_2027q1_spa_fee:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_spa_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_spa_fee:upside/valueNone2.5
/operating_model/cells/upside_2027q1_spa_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q1_spa_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q1_spa_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_spa_fees:upside/formula/refs/0Noneupside_2027q1_volume
/operating_model/cells/upside_2027q1_spa_fees:upside/formula/refs/1Noneupside_2027q1_spa_share
/operating_model/cells/upside_2027q1_spa_fees:upside/formula/refs/2Noneupside_2027q1_spa_fee
/operating_model/cells/upside_2027q1_spa_fees:upside/idNoneupside_2027q1_spa_fees
/operating_model/cells/upside_2027q1_spa_fees:upside/kindNonederived
/operating_model/cells/upside_2027q1_spa_fees:upside/labelNonespa fee revenue
/operating_model/cells/upside_2027q1_spa_fees:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_spa_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_spa_fees:upside/valueNone580.4662500000001
/operating_model/cells/upside_2027q1_spa_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_spa_share:upside/caseNoneupside
/operating_model/cells/upside_2027q1_spa_share:upside/idNoneupside_2027q1_spa_share
/operating_model/cells/upside_2027q1_spa_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_spa_share:upside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/upside_2027q1_spa_share:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_spa_share:upside/unitNoneratio
/operating_model/cells/upside_2027q1_spa_share:upside/valueNone0.45
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/formula/refs/0Noneupside_2027q1_series_a_cash
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/formula/refs/1Noneupside_2027q1_nci_cash
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/idNoneupside_2027q1_subsidiary_distributions
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_subsidiary_distributions:upside/valueNone180.0
/operating_model/cells/upside_2027q1_volume:upside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/upside_2027q1_volume:upside/caseNoneupside
/operating_model/cells/upside_2027q1_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_volume:upside/formula/refs/0Noneupside_2027q1_cargos
/operating_model/cells/upside_2027q1_volume:upside/formula/refs/1Nonecargo_size
/operating_model/cells/upside_2027q1_volume:upside/formula/refs/2Nonesales_timing
/operating_model/cells/upside_2027q1_volume:upside/idNoneupside_2027q1_volume
/operating_model/cells/upside_2027q1_volume:upside/kindNonederived
/operating_model/cells/upside_2027q1_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2027q1_volume:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_volume:upside/unitNoneratio
/operating_model/cells/upside_2027q1_volume:upside/valueNone515.97
/operating_model/cells/upside_2027q1_volume_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_volume_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q1_volume_factor:upside/idNoneupside_2027q1_volume_factor
/operating_model/cells/upside_2027q1_volume_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_volume_factor:upside/labelNoneCargo delivery factor
/operating_model/cells/upside_2027q1_volume_factor:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_volume_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q1_volume_factor:upside/valueNone1.08
/operating_model/cells/upside_2027q1_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2027q1_wc_use:upside/idNoneupside_2027q1_wc_use
/operating_model/cells/upside_2027q1_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2027q1_wc_use:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_wc_use:upside/valueNone100.0
/operating_model/cells/upside_2027q2_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2027q2_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2027q2_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_adj_ebitda:upside/formula/refs/0Noneupside_2027q2_fee_revenue
/operating_model/cells/upside_2027q2_adj_ebitda:upside/formula/refs/1Noneupside_2027q2_cash_costs
/operating_model/cells/upside_2027q2_adj_ebitda:upside/idNoneupside_2027q2_adj_ebitda
/operating_model/cells/upside_2027q2_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2027q2_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2027q2_adj_ebitda:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_adj_ebitda:upside/valueNone2700.7391249999996
/operating_model/cells/upside_2027q2_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2027q2_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q2_capex:upside/idNoneupside_2027q2_capex
/operating_model/cells/upside_2027q2_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2027q2_capex:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_capex:upside/valueNone3000.0
/operating_model/cells/upside_2027q2_cargo_baseline:upside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/upside_2027q2_cargo_baseline:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cargo_baseline:upside/idNoneupside_2027q2_cargo_baseline
/operating_model/cells/upside_2027q2_cargo_baseline:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cargo_baseline:upside/labelNoneStandalone project export-cargo plan
/operating_model/cells/upside_2027q2_cargo_baseline:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cargo_baseline:upside/unitNoneratio
/operating_model/cells/upside_2027q2_cargo_baseline:upside/valueNone135.0
/operating_model/cells/upside_2027q2_cargos:upside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/upside_2027q2_cargos:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cargos:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_cargos:upside/formula/refs/0Noneupside_2027q2_cargo_baseline
/operating_model/cells/upside_2027q2_cargos:upside/formula/refs/1Noneupside_2027q2_volume_factor
/operating_model/cells/upside_2027q2_cargos:upside/idNoneupside_2027q2_cargos
/operating_model/cells/upside_2027q2_cargos:upside/kindNonederived
/operating_model/cells/upside_2027q2_cargos:upside/labelNoneExported cargos
/operating_model/cells/upside_2027q2_cargos:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cargos:upside/unitNoneratio
/operating_model/cells/upside_2027q2_cargos:upside/valueNone145.8
/operating_model/cells/upside_2027q2_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2027q2_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_cash_after_claims:upside/formula/refs/0Noneupside_2027q2_fcf
/operating_model/cells/upside_2027q2_cash_after_claims:upside/formula/refs/1Noneupside_2027q2_claims
/operating_model/cells/upside_2027q2_cash_after_claims:upside/idNoneupside_2027q2_cash_after_claims
/operating_model/cells/upside_2027q2_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2027q2_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2027q2_cash_after_claims:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_after_claims:upside/valueNone-1289.6245890400005
/operating_model/cells/upside_2027q2_cash_costs:upside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/upside_2027q2_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_cash_costs:upside/formula/refs/0Noneupside_2027q2_cost_budget
/operating_model/cells/upside_2027q2_cash_costs:upside/formula/refs/1Noneupside_2027q2_cost_factor
/operating_model/cells/upside_2027q2_cash_costs:upside/idNoneupside_2027q2_cash_costs
/operating_model/cells/upside_2027q2_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2027q2_cash_costs:upside/labelNoneOperating costs net of other contribution
/operating_model/cells/upside_2027q2_cash_costs:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_costs:upside/valueNone661.5
/operating_model/cells/upside_2027q2_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2027q2_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_interest:upside/idNoneupside_2027q2_cash_interest
/operating_model/cells/upside_2027q2_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2027q2_cash_interest:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_interest:upside/valueNone525.0
/operating_model/cells/upside_2027q2_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_tax:upside/idNoneupside_2027q2_cash_tax
/operating_model/cells/upside_2027q2_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2027q2_cash_tax:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_tax:upside/valueNone120.0
/operating_model/cells/upside_2027q2_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2027q2_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_cfo:upside/formula/refs/0Noneupside_2027q2_adj_ebitda
/operating_model/cells/upside_2027q2_cfo:upside/formula/refs/1Noneupside_2027q2_cfo_uses
/operating_model/cells/upside_2027q2_cfo:upside/idNoneupside_2027q2_cfo
/operating_model/cells/upside_2027q2_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q2_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q2_cfo:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cfo:upside/valueNone2005.7391249999996
/operating_model/cells/upside_2027q2_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2027q2_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_cfo_uses:upside/formula/refs/0Noneupside_2027q2_cash_interest
/operating_model/cells/upside_2027q2_cfo_uses:upside/formula/refs/1Noneupside_2027q2_cash_tax
/operating_model/cells/upside_2027q2_cfo_uses:upside/formula/refs/2Noneupside_2027q2_wc_use
/operating_model/cells/upside_2027q2_cfo_uses:upside/formula/refs/3Noneupside_2027q2_legal_cash_stress
/operating_model/cells/upside_2027q2_cfo_uses:upside/idNoneupside_2027q2_cfo_uses
/operating_model/cells/upside_2027q2_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2027q2_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2027q2_cfo_uses:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cfo_uses:upside/valueNone695.0
/operating_model/cells/upside_2027q2_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2027q2_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q2_claims:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_claims:upside/formula/refs/0Noneupside_2027q2_subsidiary_distributions
/operating_model/cells/upside_2027q2_claims:upside/formula/refs/1Noneupside_2027q2_common_dividends
/operating_model/cells/upside_2027q2_claims:upside/formula/refs/2Noneupside_2027q2_preferred_redemption
/operating_model/cells/upside_2027q2_claims:upside/formula/refs/3Noneupside_2027q2_debt_principal
/operating_model/cells/upside_2027q2_claims:upside/idNoneupside_2027q2_claims
/operating_model/cells/upside_2027q2_claims:upside/kindNonederived
/operating_model/cells/upside_2027q2_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2027q2_claims:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_claims:upside/valueNone295.36371404
/operating_model/cells/upside_2027q2_commission_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q2_commission_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q2_commission_fee:upside/idNoneupside_2027q2_commission_fee
/operating_model/cells/upside_2027q2_commission_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_commission_fee:upside/labelNonecommission fee revenue per TBtu
/operating_model/cells/upside_2027q2_commission_fee:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_commission_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_commission_fee:upside/valueNone7.0
/operating_model/cells/upside_2027q2_commission_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q2_commission_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q2_commission_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_commission_fees:upside/formula/refs/0Noneupside_2027q2_volume
/operating_model/cells/upside_2027q2_commission_fees:upside/formula/refs/1Noneupside_2027q2_commission_share
/operating_model/cells/upside_2027q2_commission_fees:upside/formula/refs/2Noneupside_2027q2_commission_fee
/operating_model/cells/upside_2027q2_commission_fees:upside/idNoneupside_2027q2_commission_fees
/operating_model/cells/upside_2027q2_commission_fees:upside/kindNonederived
/operating_model/cells/upside_2027q2_commission_fees:upside/labelNonecommission fee revenue
/operating_model/cells/upside_2027q2_commission_fees:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_commission_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_commission_fees:upside/valueNone375.0705
/operating_model/cells/upside_2027q2_commission_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_commission_share:upside/caseNoneupside
/operating_model/cells/upside_2027q2_commission_share:upside/idNoneupside_2027q2_commission_share
/operating_model/cells/upside_2027q2_commission_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_commission_share:upside/labelNonePrecontracted commissioning share
/operating_model/cells/upside_2027q2_commission_share:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_commission_share:upside/unitNoneratio
/operating_model/cells/upside_2027q2_commission_share:upside/valueNone0.1
/operating_model/cells/upside_2027q2_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2027q2_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2027q2_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2027q2_common_dividends:upside/formula/refs/1Noneupside_2027q2_dividend_share_factor
/operating_model/cells/upside_2027q2_common_dividends:upside/formula/refs/2Noneupside_2027q2_dividend_factor
/operating_model/cells/upside_2027q2_common_dividends:upside/idNoneupside_2027q2_common_dividends
/operating_model/cells/upside_2027q2_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2027q2_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2027q2_common_dividends:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_common_dividends:upside/valueNone100.36371404
/operating_model/cells/upside_2027q2_cost_budget:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cost_budget:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cost_budget:upside/idNoneupside_2027q2_cost_budget
/operating_model/cells/upside_2027q2_cost_budget:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cost_budget:upside/labelNoneOperating cost/contribution budget
/operating_model/cells/upside_2027q2_cost_budget:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cost_budget:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cost_budget:upside/valueNone675.0
/operating_model/cells/upside_2027q2_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cost_factor:upside/idNoneupside_2027q2_cost_factor
/operating_model/cells/upside_2027q2_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cost_factor:upside/labelNoneCost execution stress
/operating_model/cells/upside_2027q2_cost_factor:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q2_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2027q2_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_da:upside/caseNoneupside
/operating_model/cells/upside_2027q2_da:upside/idNoneupside_2027q2_da
/operating_model/cells/upside_2027q2_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2027q2_da:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_da:upside/valueNone335.0
/operating_model/cells/upside_2027q2_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2027q2_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2027q2_debt_principal:upside/idNoneupside_2027q2_debt_principal
/operating_model/cells/upside_2027q2_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2027q2_debt_principal:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_debt_principal:upside/valueNone150.0
/operating_model/cells/upside_2027q2_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2027q2_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q2_dividend_factor:upside/idNoneupside_2027q2_dividend_factor
/operating_model/cells/upside_2027q2_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2027q2_dividend_factor:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q2_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/formula/refs/0Noneupside_2027q2_shares
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/idNoneupside_2027q2_dividend_share_factor
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q2_dividend_share_factor:upside/valueNone1.0035998662995258
/operating_model/cells/upside_2027q2_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2027q2_fcf:upside/caseNoneupside
/operating_model/cells/upside_2027q2_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_fcf:upside/formula/refs/0Noneupside_2027q2_cfo
/operating_model/cells/upside_2027q2_fcf:upside/formula/refs/1Noneupside_2027q2_capex
/operating_model/cells/upside_2027q2_fcf:upside/idNoneupside_2027q2_fcf
/operating_model/cells/upside_2027q2_fcf:upside/kindNonederived
/operating_model/cells/upside_2027q2_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2027q2_fcf:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_fcf:upside/valueNone-994.2608750000004
/operating_model/cells/upside_2027q2_fee_revenue:upside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/upside_2027q2_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_fee_revenue:upside/formula/refs/0Noneupside_2027q2_spa_fees
/operating_model/cells/upside_2027q2_fee_revenue:upside/formula/refs/1Noneupside_2027q2_commission_fees
/operating_model/cells/upside_2027q2_fee_revenue:upside/formula/refs/2Noneupside_2027q2_merchant_fees
/operating_model/cells/upside_2027q2_fee_revenue:upside/idNoneupside_2027q2_fee_revenue
/operating_model/cells/upside_2027q2_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q2_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2027q2_fee_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_fee_revenue:upside/valueNone3362.2391249999996
/operating_model/cells/upside_2027q2_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2027q2_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2027q2_feed_gas:upside/idNoneupside_2027q2_feed_gas
/operating_model/cells/upside_2027q2_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2027q2_feed_gas:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_feed_gas:upside/valueNone3.5
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/formula/refs/0Noneupside_2027q2_volume
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/formula/refs/1Noneupside_2027q2_feed_gas
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/idNoneupside_2027q2_feed_gas_recovery
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_feed_gas_recovery:upside/valueNone1875.3524999999997
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/idNoneupside_2027q2_legal_cash_stress
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2027q2_merchant_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q2_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q2_merchant_fee:upside/idNoneupside_2027q2_merchant_fee
/operating_model/cells/upside_2027q2_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_merchant_fee:upside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/upside_2027q2_merchant_fee:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_merchant_fee:upside/valueNone12.0
/operating_model/cells/upside_2027q2_merchant_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q2_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q2_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_merchant_fees:upside/formula/refs/0Noneupside_2027q2_volume
/operating_model/cells/upside_2027q2_merchant_fees:upside/formula/refs/1Noneupside_2027q2_merchant_share
/operating_model/cells/upside_2027q2_merchant_fees:upside/formula/refs/2Noneupside_2027q2_merchant_fee
/operating_model/cells/upside_2027q2_merchant_fees:upside/idNoneupside_2027q2_merchant_fees
/operating_model/cells/upside_2027q2_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2027q2_merchant_fees:upside/labelNonemerchant fee revenue
/operating_model/cells/upside_2027q2_merchant_fees:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_merchant_fees:upside/valueNone2250.423
/operating_model/cells/upside_2027q2_merchant_share:upside/basisNoneNo double-counted sales mix.
/operating_model/cells/upside_2027q2_merchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q2_merchant_share:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_merchant_share:upside/formula/refs/0Noneupside_2027q2_one
/operating_model/cells/upside_2027q2_merchant_share:upside/formula/refs/1Noneupside_2027q2_nonmerchant_share
/operating_model/cells/upside_2027q2_merchant_share:upside/idNoneupside_2027q2_merchant_share
/operating_model/cells/upside_2027q2_merchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q2_merchant_share:upside/labelNoneRemaining merchant volume share
/operating_model/cells/upside_2027q2_merchant_share:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_merchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q2_merchant_share:upside/valueNone0.35
/operating_model/cells/upside_2027q2_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q2_nci_cash:upside/idNoneupside_2027q2_nci_cash
/operating_model/cells/upside_2027q2_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2027q2_nci_cash:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_nci_cash:upside/valueNone45.0
/operating_model/cells/upside_2027q2_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2027q2_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2027q2_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_noncash_deductions:upside/formula/refs/0Noneupside_2027q2_da
/operating_model/cells/upside_2027q2_noncash_deductions:upside/formula/refs/1Noneupside_2027q2_sbc
/operating_model/cells/upside_2027q2_noncash_deductions:upside/formula/refs/2Noneupside_2027q2_other_adjustments
/operating_model/cells/upside_2027q2_noncash_deductions:upside/idNoneupside_2027q2_noncash_deductions
/operating_model/cells/upside_2027q2_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2027q2_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2027q2_noncash_deductions:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_noncash_deductions:upside/valueNone361.0
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/basisNoneMutually exclusive price buckets.
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/formula/refs/0Noneupside_2027q2_spa_share
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/formula/refs/1Noneupside_2027q2_commission_share
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/idNoneupside_2027q2_nonmerchant_share
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q2_nonmerchant_share:upside/valueNone0.65
/operating_model/cells/upside_2027q2_one:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_one:upside/caseNoneupside
/operating_model/cells/upside_2027q2_one:upside/idNoneupside_2027q2_one
/operating_model/cells/upside_2027q2_one:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_one:upside/labelNoneAll recognized volume
/operating_model/cells/upside_2027q2_one:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_one:upside/unitNoneratio
/operating_model/cells/upside_2027q2_one:upside/valueNone1.0
/operating_model/cells/upside_2027q2_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2027q2_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q2_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/0Noneupside_2027q2_adj_ebitda
/operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/1Noneupside_2027q2_noncash_deductions
/operating_model/cells/upside_2027q2_operating_income:upside/idNoneupside_2027q2_operating_income
/operating_model/cells/upside_2027q2_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q2_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2027q2_operating_income:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_operating_income:upside/valueNone2339.7391249999996
/operating_model/cells/upside_2027q2_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2027q2_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2027q2_other_adjustments:upside/idNoneupside_2027q2_other_adjustments
/operating_model/cells/upside_2027q2_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2027q2_other_adjustments:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_other_adjustments:upside/valueNone5.0
/operating_model/cells/upside_2027q2_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2027q2_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2027q2_preferred_redemption:upside/idNoneupside_2027q2_preferred_redemption
/operating_model/cells/upside_2027q2_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2027q2_preferred_redemption:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2027q2_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2027q2_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_revenue:upside/formula/refs/0Noneupside_2027q2_fee_revenue
/operating_model/cells/upside_2027q2_revenue:upside/formula/refs/1Noneupside_2027q2_feed_gas_recovery
/operating_model/cells/upside_2027q2_revenue:upside/idNoneupside_2027q2_revenue
/operating_model/cells/upside_2027q2_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q2_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2027q2_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_revenue:upside/valueNone5237.591624999999
/operating_model/cells/upside_2027q2_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q2_sbc:upside/idNoneupside_2027q2_sbc
/operating_model/cells/upside_2027q2_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2027q2_sbc:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_sbc:upside/valueNone21.0
/operating_model/cells/upside_2027q2_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2027q2_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q2_series_a_cash:upside/idNoneupside_2027q2_series_a_cash
/operating_model/cells/upside_2027q2_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2027q2_series_a_cash:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_series_a_cash:upside/valueNone0.0
/operating_model/cells/upside_2027q2_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2027q2_share_growth:upside/idNoneupside_2027q2_share_growth
/operating_model/cells/upside_2027q2_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2027q2_share_growth:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q2_share_growth:upside/valueNone9.0
/operating_model/cells/upside_2027q2_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2027q2_shares:upside/caseNoneupside
/operating_model/cells/upside_2027q2_shares:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2027q2_shares:upside/formula/refs/1Noneupside_2027q2_share_growth
/operating_model/cells/upside_2027q2_shares:upside/idNoneupside_2027q2_shares
/operating_model/cells/upside_2027q2_shares:upside/kindNonederived
/operating_model/cells/upside_2027q2_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2027q2_shares:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q2_shares:upside/valueNone2509.092851
/operating_model/cells/upside_2027q2_spa_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q2_spa_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q2_spa_fee:upside/idNoneupside_2027q2_spa_fee
/operating_model/cells/upside_2027q2_spa_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_spa_fee:upside/labelNonespa fee revenue per TBtu
/operating_model/cells/upside_2027q2_spa_fee:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_spa_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_spa_fee:upside/valueNone2.5
/operating_model/cells/upside_2027q2_spa_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q2_spa_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q2_spa_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_spa_fees:upside/formula/refs/0Noneupside_2027q2_volume
/operating_model/cells/upside_2027q2_spa_fees:upside/formula/refs/1Noneupside_2027q2_spa_share
/operating_model/cells/upside_2027q2_spa_fees:upside/formula/refs/2Noneupside_2027q2_spa_fee
/operating_model/cells/upside_2027q2_spa_fees:upside/idNoneupside_2027q2_spa_fees
/operating_model/cells/upside_2027q2_spa_fees:upside/kindNonederived
/operating_model/cells/upside_2027q2_spa_fees:upside/labelNonespa fee revenue
/operating_model/cells/upside_2027q2_spa_fees:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_spa_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_spa_fees:upside/valueNone736.7456249999999
/operating_model/cells/upside_2027q2_spa_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_spa_share:upside/caseNoneupside
/operating_model/cells/upside_2027q2_spa_share:upside/idNoneupside_2027q2_spa_share
/operating_model/cells/upside_2027q2_spa_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_spa_share:upside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/upside_2027q2_spa_share:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_spa_share:upside/unitNoneratio
/operating_model/cells/upside_2027q2_spa_share:upside/valueNone0.55
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/formula/refs/0Noneupside_2027q2_series_a_cash
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/formula/refs/1Noneupside_2027q2_nci_cash
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/idNoneupside_2027q2_subsidiary_distributions
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_subsidiary_distributions:upside/valueNone45.0
/operating_model/cells/upside_2027q2_volume:upside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/upside_2027q2_volume:upside/caseNoneupside
/operating_model/cells/upside_2027q2_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_volume:upside/formula/refs/0Noneupside_2027q2_cargos
/operating_model/cells/upside_2027q2_volume:upside/formula/refs/1Nonecargo_size
/operating_model/cells/upside_2027q2_volume:upside/formula/refs/2Nonesales_timing
/operating_model/cells/upside_2027q2_volume:upside/idNoneupside_2027q2_volume
/operating_model/cells/upside_2027q2_volume:upside/kindNonederived
/operating_model/cells/upside_2027q2_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2027q2_volume:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_volume:upside/unitNoneratio
/operating_model/cells/upside_2027q2_volume:upside/valueNone535.8149999999999
/operating_model/cells/upside_2027q2_volume_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_volume_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q2_volume_factor:upside/idNoneupside_2027q2_volume_factor
/operating_model/cells/upside_2027q2_volume_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_volume_factor:upside/labelNoneCargo delivery factor
/operating_model/cells/upside_2027q2_volume_factor:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_volume_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q2_volume_factor:upside/valueNone1.08
/operating_model/cells/upside_2027q2_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2027q2_wc_use:upside/idNoneupside_2027q2_wc_use
/operating_model/cells/upside_2027q2_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2027q2_wc_use:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_wc_use:upside/valueNone50.0
/operating_model/cells/upside_2027q3_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2027q3_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2027q3_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_adj_ebitda:upside/formula/refs/0Noneupside_2027q3_fee_revenue
/operating_model/cells/upside_2027q3_adj_ebitda:upside/formula/refs/1Noneupside_2027q3_cash_costs
/operating_model/cells/upside_2027q3_adj_ebitda:upside/idNoneupside_2027q3_adj_ebitda
/operating_model/cells/upside_2027q3_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2027q3_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2027q3_adj_ebitda:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_adj_ebitda:upside/valueNone2651.929000000001
/operating_model/cells/upside_2027q3_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2027q3_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q3_capex:upside/idNoneupside_2027q3_capex
/operating_model/cells/upside_2027q3_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2027q3_capex:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_capex:upside/valueNone2600.0
/operating_model/cells/upside_2027q3_cargo_baseline:upside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/upside_2027q3_cargo_baseline:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cargo_baseline:upside/idNoneupside_2027q3_cargo_baseline
/operating_model/cells/upside_2027q3_cargo_baseline:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cargo_baseline:upside/labelNoneStandalone project export-cargo plan
/operating_model/cells/upside_2027q3_cargo_baseline:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cargo_baseline:upside/unitNoneratio
/operating_model/cells/upside_2027q3_cargo_baseline:upside/valueNone145.0
/operating_model/cells/upside_2027q3_cargos:upside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/upside_2027q3_cargos:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cargos:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_cargos:upside/formula/refs/0Noneupside_2027q3_cargo_baseline
/operating_model/cells/upside_2027q3_cargos:upside/formula/refs/1Noneupside_2027q3_volume_factor
/operating_model/cells/upside_2027q3_cargos:upside/idNoneupside_2027q3_cargos
/operating_model/cells/upside_2027q3_cargos:upside/kindNonederived
/operating_model/cells/upside_2027q3_cargos:upside/labelNoneExported cargos
/operating_model/cells/upside_2027q3_cargos:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cargos:upside/unitNoneratio
/operating_model/cells/upside_2027q3_cargos:upside/valueNone156.60000000000002
/operating_model/cells/upside_2027q3_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2027q3_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_cash_after_claims:upside/formula/refs/0Noneupside_2027q3_fcf
/operating_model/cells/upside_2027q3_cash_after_claims:upside/formula/refs/1Noneupside_2027q3_claims
/operating_model/cells/upside_2027q3_cash_after_claims:upside/idNoneupside_2027q3_cash_after_claims
/operating_model/cells/upside_2027q3_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2027q3_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2027q3_cash_after_claims:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_after_claims:upside/valueNone-1128.554714039999
/operating_model/cells/upside_2027q3_cash_costs:upside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/upside_2027q3_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_cash_costs:upside/formula/refs/0Noneupside_2027q3_cost_budget
/operating_model/cells/upside_2027q3_cash_costs:upside/formula/refs/1Noneupside_2027q3_cost_factor
/operating_model/cells/upside_2027q3_cash_costs:upside/idNoneupside_2027q3_cash_costs
/operating_model/cells/upside_2027q3_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2027q3_cash_costs:upside/labelNoneOperating costs net of other contribution
/operating_model/cells/upside_2027q3_cash_costs:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_costs:upside/valueNone686.0
/operating_model/cells/upside_2027q3_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2027q3_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_interest:upside/idNoneupside_2027q3_cash_interest
/operating_model/cells/upside_2027q3_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2027q3_cash_interest:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_interest:upside/valueNone550.0
/operating_model/cells/upside_2027q3_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_tax:upside/idNoneupside_2027q3_cash_tax
/operating_model/cells/upside_2027q3_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2027q3_cash_tax:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_tax:upside/valueNone120.0
/operating_model/cells/upside_2027q3_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2027q3_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_cfo:upside/formula/refs/0Noneupside_2027q3_adj_ebitda
/operating_model/cells/upside_2027q3_cfo:upside/formula/refs/1Noneupside_2027q3_cfo_uses
/operating_model/cells/upside_2027q3_cfo:upside/idNoneupside_2027q3_cfo
/operating_model/cells/upside_2027q3_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q3_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q3_cfo:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cfo:upside/valueNone1901.929000000001
/operating_model/cells/upside_2027q3_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2027q3_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_cfo_uses:upside/formula/refs/0Noneupside_2027q3_cash_interest
/operating_model/cells/upside_2027q3_cfo_uses:upside/formula/refs/1Noneupside_2027q3_cash_tax
/operating_model/cells/upside_2027q3_cfo_uses:upside/formula/refs/2Noneupside_2027q3_wc_use
/operating_model/cells/upside_2027q3_cfo_uses:upside/formula/refs/3Noneupside_2027q3_legal_cash_stress
/operating_model/cells/upside_2027q3_cfo_uses:upside/idNoneupside_2027q3_cfo_uses
/operating_model/cells/upside_2027q3_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2027q3_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2027q3_cfo_uses:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cfo_uses:upside/valueNone750.0
/operating_model/cells/upside_2027q3_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2027q3_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q3_claims:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_claims:upside/formula/refs/0Noneupside_2027q3_subsidiary_distributions
/operating_model/cells/upside_2027q3_claims:upside/formula/refs/1Noneupside_2027q3_common_dividends
/operating_model/cells/upside_2027q3_claims:upside/formula/refs/2Noneupside_2027q3_preferred_redemption
/operating_model/cells/upside_2027q3_claims:upside/formula/refs/3Noneupside_2027q3_debt_principal
/operating_model/cells/upside_2027q3_claims:upside/idNoneupside_2027q3_claims
/operating_model/cells/upside_2027q3_claims:upside/kindNonederived
/operating_model/cells/upside_2027q3_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2027q3_claims:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_claims:upside/valueNone430.48371404
/operating_model/cells/upside_2027q3_commission_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q3_commission_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q3_commission_fee:upside/idNoneupside_2027q3_commission_fee
/operating_model/cells/upside_2027q3_commission_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_commission_fee:upside/labelNonecommission fee revenue per TBtu
/operating_model/cells/upside_2027q3_commission_fee:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_commission_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_commission_fee:upside/valueNone7.0
/operating_model/cells/upside_2027q3_commission_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q3_commission_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q3_commission_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_commission_fees:upside/formula/refs/0Noneupside_2027q3_volume
/operating_model/cells/upside_2027q3_commission_fees:upside/formula/refs/1Noneupside_2027q3_commission_share
/operating_model/cells/upside_2027q3_commission_fees:upside/formula/refs/2Noneupside_2027q3_commission_fee
/operating_model/cells/upside_2027q3_commission_fees:upside/idNoneupside_2027q3_commission_fees
/operating_model/cells/upside_2027q3_commission_fees:upside/kindNonederived
/operating_model/cells/upside_2027q3_commission_fees:upside/labelNonecommission fee revenue
/operating_model/cells/upside_2027q3_commission_fees:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_commission_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_commission_fees:upside/valueNone402.8535000000001
/operating_model/cells/upside_2027q3_commission_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_commission_share:upside/caseNoneupside
/operating_model/cells/upside_2027q3_commission_share:upside/idNoneupside_2027q3_commission_share
/operating_model/cells/upside_2027q3_commission_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_commission_share:upside/labelNonePrecontracted commissioning share
/operating_model/cells/upside_2027q3_commission_share:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_commission_share:upside/unitNoneratio
/operating_model/cells/upside_2027q3_commission_share:upside/valueNone0.1
/operating_model/cells/upside_2027q3_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2027q3_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2027q3_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2027q3_common_dividends:upside/formula/refs/1Noneupside_2027q3_dividend_share_factor
/operating_model/cells/upside_2027q3_common_dividends:upside/formula/refs/2Noneupside_2027q3_dividend_factor
/operating_model/cells/upside_2027q3_common_dividends:upside/idNoneupside_2027q3_common_dividends
/operating_model/cells/upside_2027q3_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2027q3_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2027q3_common_dividends:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_common_dividends:upside/valueNone100.48371404
/operating_model/cells/upside_2027q3_cost_budget:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cost_budget:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cost_budget:upside/idNoneupside_2027q3_cost_budget
/operating_model/cells/upside_2027q3_cost_budget:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cost_budget:upside/labelNoneOperating cost/contribution budget
/operating_model/cells/upside_2027q3_cost_budget:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cost_budget:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cost_budget:upside/valueNone700.0
/operating_model/cells/upside_2027q3_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cost_factor:upside/idNoneupside_2027q3_cost_factor
/operating_model/cells/upside_2027q3_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cost_factor:upside/labelNoneCost execution stress
/operating_model/cells/upside_2027q3_cost_factor:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q3_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2027q3_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_da:upside/caseNoneupside
/operating_model/cells/upside_2027q3_da:upside/idNoneupside_2027q3_da
/operating_model/cells/upside_2027q3_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2027q3_da:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_da:upside/valueNone355.0
/operating_model/cells/upside_2027q3_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2027q3_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2027q3_debt_principal:upside/idNoneupside_2027q3_debt_principal
/operating_model/cells/upside_2027q3_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2027q3_debt_principal:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_debt_principal:upside/valueNone150.0
/operating_model/cells/upside_2027q3_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2027q3_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q3_dividend_factor:upside/idNoneupside_2027q3_dividend_factor
/operating_model/cells/upside_2027q3_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2027q3_dividend_factor:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q3_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/formula/refs/0Noneupside_2027q3_shares
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/idNoneupside_2027q3_dividend_share_factor
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q3_dividend_share_factor:upside/valueNone1.004799821732701
/operating_model/cells/upside_2027q3_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2027q3_fcf:upside/caseNoneupside
/operating_model/cells/upside_2027q3_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_fcf:upside/formula/refs/0Noneupside_2027q3_cfo
/operating_model/cells/upside_2027q3_fcf:upside/formula/refs/1Noneupside_2027q3_capex
/operating_model/cells/upside_2027q3_fcf:upside/idNoneupside_2027q3_fcf
/operating_model/cells/upside_2027q3_fcf:upside/kindNonederived
/operating_model/cells/upside_2027q3_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2027q3_fcf:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_fcf:upside/valueNone-698.070999999999
/operating_model/cells/upside_2027q3_fee_revenue:upside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/upside_2027q3_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_fee_revenue:upside/formula/refs/0Noneupside_2027q3_spa_fees
/operating_model/cells/upside_2027q3_fee_revenue:upside/formula/refs/1Noneupside_2027q3_commission_fees
/operating_model/cells/upside_2027q3_fee_revenue:upside/formula/refs/2Noneupside_2027q3_merchant_fees
/operating_model/cells/upside_2027q3_fee_revenue:upside/idNoneupside_2027q3_fee_revenue
/operating_model/cells/upside_2027q3_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q3_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2027q3_fee_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_fee_revenue:upside/valueNone3337.929000000001
/operating_model/cells/upside_2027q3_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2027q3_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2027q3_feed_gas:upside/idNoneupside_2027q3_feed_gas
/operating_model/cells/upside_2027q3_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2027q3_feed_gas:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_feed_gas:upside/valueNone3.5
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/formula/refs/0Noneupside_2027q3_volume
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/formula/refs/1Noneupside_2027q3_feed_gas
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/idNoneupside_2027q3_feed_gas_recovery
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_feed_gas_recovery:upside/valueNone2014.2675000000004
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/idNoneupside_2027q3_legal_cash_stress
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2027q3_merchant_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q3_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q3_merchant_fee:upside/idNoneupside_2027q3_merchant_fee
/operating_model/cells/upside_2027q3_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_merchant_fee:upside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/upside_2027q3_merchant_fee:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_merchant_fee:upside/valueNone12.0
/operating_model/cells/upside_2027q3_merchant_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q3_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q3_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_merchant_fees:upside/formula/refs/0Noneupside_2027q3_volume
/operating_model/cells/upside_2027q3_merchant_fees:upside/formula/refs/1Noneupside_2027q3_merchant_share
/operating_model/cells/upside_2027q3_merchant_fees:upside/formula/refs/2Noneupside_2027q3_merchant_fee
/operating_model/cells/upside_2027q3_merchant_fees:upside/idNoneupside_2027q3_merchant_fees
/operating_model/cells/upside_2027q3_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2027q3_merchant_fees:upside/labelNonemerchant fee revenue
/operating_model/cells/upside_2027q3_merchant_fees:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_merchant_fees:upside/valueNone2071.8180000000007
/operating_model/cells/upside_2027q3_merchant_share:upside/basisNoneNo double-counted sales mix.
/operating_model/cells/upside_2027q3_merchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q3_merchant_share:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_merchant_share:upside/formula/refs/0Noneupside_2027q3_one
/operating_model/cells/upside_2027q3_merchant_share:upside/formula/refs/1Noneupside_2027q3_nonmerchant_share
/operating_model/cells/upside_2027q3_merchant_share:upside/idNoneupside_2027q3_merchant_share
/operating_model/cells/upside_2027q3_merchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q3_merchant_share:upside/labelNoneRemaining merchant volume share
/operating_model/cells/upside_2027q3_merchant_share:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_merchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q3_merchant_share:upside/valueNone0.30000000000000004
/operating_model/cells/upside_2027q3_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q3_nci_cash:upside/idNoneupside_2027q3_nci_cash
/operating_model/cells/upside_2027q3_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2027q3_nci_cash:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_nci_cash:upside/valueNone45.0
/operating_model/cells/upside_2027q3_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2027q3_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2027q3_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_noncash_deductions:upside/formula/refs/0Noneupside_2027q3_da
/operating_model/cells/upside_2027q3_noncash_deductions:upside/formula/refs/1Noneupside_2027q3_sbc
/operating_model/cells/upside_2027q3_noncash_deductions:upside/formula/refs/2Noneupside_2027q3_other_adjustments
/operating_model/cells/upside_2027q3_noncash_deductions:upside/idNoneupside_2027q3_noncash_deductions
/operating_model/cells/upside_2027q3_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2027q3_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2027q3_noncash_deductions:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_noncash_deductions:upside/valueNone383.0
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/basisNoneMutually exclusive price buckets.
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/formula/refs/0Noneupside_2027q3_spa_share
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/formula/refs/1Noneupside_2027q3_commission_share
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/idNoneupside_2027q3_nonmerchant_share
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q3_nonmerchant_share:upside/valueNone0.7
/operating_model/cells/upside_2027q3_one:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_one:upside/caseNoneupside
/operating_model/cells/upside_2027q3_one:upside/idNoneupside_2027q3_one
/operating_model/cells/upside_2027q3_one:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_one:upside/labelNoneAll recognized volume
/operating_model/cells/upside_2027q3_one:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_one:upside/unitNoneratio
/operating_model/cells/upside_2027q3_one:upside/valueNone1.0
/operating_model/cells/upside_2027q3_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2027q3_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q3_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/0Noneupside_2027q3_adj_ebitda
/operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/1Noneupside_2027q3_noncash_deductions
/operating_model/cells/upside_2027q3_operating_income:upside/idNoneupside_2027q3_operating_income
/operating_model/cells/upside_2027q3_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q3_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2027q3_operating_income:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_operating_income:upside/valueNone2268.929000000001
/operating_model/cells/upside_2027q3_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2027q3_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2027q3_other_adjustments:upside/idNoneupside_2027q3_other_adjustments
/operating_model/cells/upside_2027q3_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2027q3_other_adjustments:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_other_adjustments:upside/valueNone5.0
/operating_model/cells/upside_2027q3_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2027q3_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2027q3_preferred_redemption:upside/idNoneupside_2027q3_preferred_redemption
/operating_model/cells/upside_2027q3_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2027q3_preferred_redemption:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2027q3_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2027q3_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_revenue:upside/formula/refs/0Noneupside_2027q3_fee_revenue
/operating_model/cells/upside_2027q3_revenue:upside/formula/refs/1Noneupside_2027q3_feed_gas_recovery
/operating_model/cells/upside_2027q3_revenue:upside/idNoneupside_2027q3_revenue
/operating_model/cells/upside_2027q3_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q3_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2027q3_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_revenue:upside/valueNone5352.196500000002
/operating_model/cells/upside_2027q3_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q3_sbc:upside/idNoneupside_2027q3_sbc
/operating_model/cells/upside_2027q3_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2027q3_sbc:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_sbc:upside/valueNone23.0
/operating_model/cells/upside_2027q3_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2027q3_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q3_series_a_cash:upside/idNoneupside_2027q3_series_a_cash
/operating_model/cells/upside_2027q3_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2027q3_series_a_cash:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_series_a_cash:upside/valueNone135.0
/operating_model/cells/upside_2027q3_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2027q3_share_growth:upside/idNoneupside_2027q3_share_growth
/operating_model/cells/upside_2027q3_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2027q3_share_growth:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q3_share_growth:upside/valueNone12.0
/operating_model/cells/upside_2027q3_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2027q3_shares:upside/caseNoneupside
/operating_model/cells/upside_2027q3_shares:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2027q3_shares:upside/formula/refs/1Noneupside_2027q3_share_growth
/operating_model/cells/upside_2027q3_shares:upside/idNoneupside_2027q3_shares
/operating_model/cells/upside_2027q3_shares:upside/kindNonederived
/operating_model/cells/upside_2027q3_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2027q3_shares:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q3_shares:upside/valueNone2512.092851
/operating_model/cells/upside_2027q3_spa_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q3_spa_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q3_spa_fee:upside/idNoneupside_2027q3_spa_fee
/operating_model/cells/upside_2027q3_spa_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_spa_fee:upside/labelNonespa fee revenue per TBtu
/operating_model/cells/upside_2027q3_spa_fee:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_spa_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_spa_fee:upside/valueNone2.5
/operating_model/cells/upside_2027q3_spa_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q3_spa_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q3_spa_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_spa_fees:upside/formula/refs/0Noneupside_2027q3_volume
/operating_model/cells/upside_2027q3_spa_fees:upside/formula/refs/1Noneupside_2027q3_spa_share
/operating_model/cells/upside_2027q3_spa_fees:upside/formula/refs/2Noneupside_2027q3_spa_fee
/operating_model/cells/upside_2027q3_spa_fees:upside/idNoneupside_2027q3_spa_fees
/operating_model/cells/upside_2027q3_spa_fees:upside/kindNonederived
/operating_model/cells/upside_2027q3_spa_fees:upside/labelNonespa fee revenue
/operating_model/cells/upside_2027q3_spa_fees:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_spa_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_spa_fees:upside/valueNone863.2575000000002
/operating_model/cells/upside_2027q3_spa_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_spa_share:upside/caseNoneupside
/operating_model/cells/upside_2027q3_spa_share:upside/idNoneupside_2027q3_spa_share
/operating_model/cells/upside_2027q3_spa_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_spa_share:upside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/upside_2027q3_spa_share:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_spa_share:upside/unitNoneratio
/operating_model/cells/upside_2027q3_spa_share:upside/valueNone0.6
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/formula/refs/0Noneupside_2027q3_series_a_cash
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/formula/refs/1Noneupside_2027q3_nci_cash
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/idNoneupside_2027q3_subsidiary_distributions
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_subsidiary_distributions:upside/valueNone180.0
/operating_model/cells/upside_2027q3_volume:upside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/upside_2027q3_volume:upside/caseNoneupside
/operating_model/cells/upside_2027q3_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_volume:upside/formula/refs/0Noneupside_2027q3_cargos
/operating_model/cells/upside_2027q3_volume:upside/formula/refs/1Nonecargo_size
/operating_model/cells/upside_2027q3_volume:upside/formula/refs/2Nonesales_timing
/operating_model/cells/upside_2027q3_volume:upside/idNoneupside_2027q3_volume
/operating_model/cells/upside_2027q3_volume:upside/kindNonederived
/operating_model/cells/upside_2027q3_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2027q3_volume:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_volume:upside/unitNoneratio
/operating_model/cells/upside_2027q3_volume:upside/valueNone575.5050000000001
/operating_model/cells/upside_2027q3_volume_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_volume_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q3_volume_factor:upside/idNoneupside_2027q3_volume_factor
/operating_model/cells/upside_2027q3_volume_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_volume_factor:upside/labelNoneCargo delivery factor
/operating_model/cells/upside_2027q3_volume_factor:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_volume_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q3_volume_factor:upside/valueNone1.08
/operating_model/cells/upside_2027q3_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2027q3_wc_use:upside/idNoneupside_2027q3_wc_use
/operating_model/cells/upside_2027q3_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2027q3_wc_use:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_wc_use:upside/valueNone80.0
/operating_model/cells/upside_2027q4_adj_ebitda:upside/basisNoneFeed-gas recovery and cost cancel; NCI included.
/operating_model/cells/upside_2027q4_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_2027q4_adj_ebitda:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_adj_ebitda:upside/formula/refs/0Noneupside_2027q4_fee_revenue
/operating_model/cells/upside_2027q4_adj_ebitda:upside/formula/refs/1Noneupside_2027q4_cash_costs
/operating_model/cells/upside_2027q4_adj_ebitda:upside/idNoneupside_2027q4_adj_ebitda
/operating_model/cells/upside_2027q4_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_2027q4_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy
/operating_model/cells/upside_2027q4_adj_ebitda:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_adj_ebitda:upside/valueNone2671.0879999999997
/operating_model/cells/upside_2027q4_capex:upside/basisNoneDesk project spending including capitalized interest, deposits and shipping. No second deduction of capitalized interest.
/operating_model/cells/upside_2027q4_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q4_capex:upside/idNoneupside_2027q4_capex
/operating_model/cells/upside_2027q4_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_capex:upside/labelNoneGross cash construction and other capex
/operating_model/cells/upside_2027q4_capex:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_capex:upside/valueNone2300.0
/operating_model/cells/upside_2027q4_cargo_baseline:upside/basisNoneDesk combined project output; includes CP2 only in H2, not incremental double-counted shipments.
/operating_model/cells/upside_2027q4_cargo_baseline:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cargo_baseline:upside/idNoneupside_2027q4_cargo_baseline
/operating_model/cells/upside_2027q4_cargo_baseline:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cargo_baseline:upside/labelNoneStandalone project export-cargo plan
/operating_model/cells/upside_2027q4_cargo_baseline:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cargo_baseline:upside/unitNoneratio
/operating_model/cells/upside_2027q4_cargo_baseline:upside/valueNone160.0
/operating_model/cells/upside_2027q4_cargos:upside/basisNoneNo 2028-2030 expansions or China Gas contract volume.
/operating_model/cells/upside_2027q4_cargos:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cargos:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_cargos:upside/formula/refs/0Noneupside_2027q4_cargo_baseline
/operating_model/cells/upside_2027q4_cargos:upside/formula/refs/1Noneupside_2027q4_volume_factor
/operating_model/cells/upside_2027q4_cargos:upside/idNoneupside_2027q4_cargos
/operating_model/cells/upside_2027q4_cargos:upside/kindNonederived
/operating_model/cells/upside_2027q4_cargos:upside/labelNoneExported cargos
/operating_model/cells/upside_2027q4_cargos:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cargos:upside/unitNoneratio
/operating_model/cells/upside_2027q4_cargos:upside/valueNone172.8
/operating_model/cells/upside_2027q4_cash_after_claims:upside/basisNoneBefore new borrowing and issuance fees; negative values indicate funding demand, not automatic insolvency.
/operating_model/cells/upside_2027q4_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_after_claims:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_cash_after_claims:upside/formula/refs/0Noneupside_2027q4_fcf
/operating_model/cells/upside_2027q4_cash_after_claims:upside/formula/refs/1Noneupside_2027q4_claims
/operating_model/cells/upside_2027q4_cash_after_claims:upside/idNoneupside_2027q4_cash_after_claims
/operating_model/cells/upside_2027q4_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_2027q4_cash_after_claims:upside/labelNoneCash after distributions and principal
/operating_model/cells/upside_2027q4_cash_after_claims:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_after_claims:upside/valueNone-669.5157140400003
/operating_model/cells/upside_2027q4_cash_costs:upside/basisNoneDesk consolidated residual covering operating, corporate and development costs after non-GAAP adjustments.
/operating_model/cells/upside_2027q4_cash_costs:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_costs:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_cash_costs:upside/formula/refs/0Noneupside_2027q4_cost_budget
/operating_model/cells/upside_2027q4_cash_costs:upside/formula/refs/1Noneupside_2027q4_cost_factor
/operating_model/cells/upside_2027q4_cash_costs:upside/idNoneupside_2027q4_cash_costs
/operating_model/cells/upside_2027q4_cash_costs:upside/kindNonederived
/operating_model/cells/upside_2027q4_cash_costs:upside/labelNoneOperating costs net of other contribution
/operating_model/cells/upside_2027q4_cash_costs:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_costs:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_costs:upside/valueNone710.5
/operating_model/cells/upside_2027q4_cash_interest:upside/basisNoneCash interest excluding construction interest included in cash capex; no derivative mark treated as cash.
/operating_model/cells/upside_2027q4_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_interest:upside/idNoneupside_2027q4_cash_interest
/operating_model/cells/upside_2027q4_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_interest:upside/labelNoneExpensed cash interest net of cash yield
/operating_model/cells/upside_2027q4_cash_interest:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_interest:upside/valueNone575.0
/operating_model/cells/upside_2027q4_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_tax:upside/idNoneupside_2027q4_cash_tax
/operating_model/cells/upside_2027q4_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_tax:upside/labelNoneCash taxes
/operating_model/cells/upside_2027q4_cash_tax:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_tax:upside/valueNone120.0
/operating_model/cells/upside_2027q4_cfo:upside/basisNoneExplicit cash-cost bridge; does not equal common distributable cash.
/operating_model/cells/upside_2027q4_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_cfo:upside/formula/refs/0Noneupside_2027q4_adj_ebitda
/operating_model/cells/upside_2027q4_cfo:upside/formula/refs/1Noneupside_2027q4_cfo_uses
/operating_model/cells/upside_2027q4_cfo:upside/idNoneupside_2027q4_cfo
/operating_model/cells/upside_2027q4_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q4_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q4_cfo:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cfo:upside/valueNone1926.0879999999997
/operating_model/cells/upside_2027q4_cfo_uses:upside/basisNoneNo preferred or common distributions deducted inside CFO.
/operating_model/cells/upside_2027q4_cfo_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cfo_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_cfo_uses:upside/formula/refs/0Noneupside_2027q4_cash_interest
/operating_model/cells/upside_2027q4_cfo_uses:upside/formula/refs/1Noneupside_2027q4_cash_tax
/operating_model/cells/upside_2027q4_cfo_uses:upside/formula/refs/2Noneupside_2027q4_wc_use
/operating_model/cells/upside_2027q4_cfo_uses:upside/formula/refs/3Noneupside_2027q4_legal_cash_stress
/operating_model/cells/upside_2027q4_cfo_uses:upside/idNoneupside_2027q4_cfo_uses
/operating_model/cells/upside_2027q4_cfo_uses:upside/kindNonederived
/operating_model/cells/upside_2027q4_cfo_uses:upside/labelNoneExpensed interest taxes working capital and legal cash stress
/operating_model/cells/upside_2027q4_cfo_uses:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cfo_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cfo_uses:upside/valueNone745.0
/operating_model/cells/upside_2027q4_claims:upside/basisNoneFinancing claims, separate from operating expense and cash capex.
/operating_model/cells/upside_2027q4_claims:upside/caseNoneupside
/operating_model/cells/upside_2027q4_claims:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_claims:upside/formula/refs/0Noneupside_2027q4_subsidiary_distributions
/operating_model/cells/upside_2027q4_claims:upside/formula/refs/1Noneupside_2027q4_common_dividends
/operating_model/cells/upside_2027q4_claims:upside/formula/refs/2Noneupside_2027q4_preferred_redemption
/operating_model/cells/upside_2027q4_claims:upside/formula/refs/3Noneupside_2027q4_debt_principal
/operating_model/cells/upside_2027q4_claims:upside/idNoneupside_2027q4_claims
/operating_model/cells/upside_2027q4_claims:upside/kindNonederived
/operating_model/cells/upside_2027q4_claims:upside/labelNoneDistributions redemption and principal
/operating_model/cells/upside_2027q4_claims:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_claims:upside/valueNone295.60371404
/operating_model/cells/upside_2027q4_commission_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q4_commission_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q4_commission_fee:upside/idNoneupside_2027q4_commission_fee
/operating_model/cells/upside_2027q4_commission_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_commission_fee:upside/labelNonecommission fee revenue per TBtu
/operating_model/cells/upside_2027q4_commission_fee:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_commission_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_commission_fee:upside/valueNone7.0
/operating_model/cells/upside_2027q4_commission_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q4_commission_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q4_commission_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_commission_fees:upside/formula/refs/0Noneupside_2027q4_volume
/operating_model/cells/upside_2027q4_commission_fees:upside/formula/refs/1Noneupside_2027q4_commission_share
/operating_model/cells/upside_2027q4_commission_fees:upside/formula/refs/2Noneupside_2027q4_commission_fee
/operating_model/cells/upside_2027q4_commission_fees:upside/idNoneupside_2027q4_commission_fees
/operating_model/cells/upside_2027q4_commission_fees:upside/kindNonederived
/operating_model/cells/upside_2027q4_commission_fees:upside/labelNonecommission fee revenue
/operating_model/cells/upside_2027q4_commission_fees:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_commission_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_commission_fees:upside/valueNone444.52799999999996
/operating_model/cells/upside_2027q4_commission_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_commission_share:upside/caseNoneupside
/operating_model/cells/upside_2027q4_commission_share:upside/idNoneupside_2027q4_commission_share
/operating_model/cells/upside_2027q4_commission_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_commission_share:upside/labelNonePrecontracted commissioning share
/operating_model/cells/upside_2027q4_commission_share:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_commission_share:upside/unitNoneratio
/operating_model/cells/upside_2027q4_commission_share:upside/valueNone0.1
/operating_model/cells/upside_2027q4_common_dividends:upside/basisNoneAggregate cash estimate, adjusted for explicit share progression.
/operating_model/cells/upside_2027q4_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_2027q4_common_dividends:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_common_dividends:upside/formula/refs/0Nonedeclared_common_cash
/operating_model/cells/upside_2027q4_common_dividends:upside/formula/refs/1Noneupside_2027q4_dividend_share_factor
/operating_model/cells/upside_2027q4_common_dividends:upside/formula/refs/2Noneupside_2027q4_dividend_factor
/operating_model/cells/upside_2027q4_common_dividends:upside/idNoneupside_2027q4_common_dividends
/operating_model/cells/upside_2027q4_common_dividends:upside/kindNonederived
/operating_model/cells/upside_2027q4_common_dividends:upside/labelNoneCommon cash dividends
/operating_model/cells/upside_2027q4_common_dividends:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_common_dividends:upside/valueNone100.60371404
/operating_model/cells/upside_2027q4_cost_budget:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cost_budget:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cost_budget:upside/idNoneupside_2027q4_cost_budget
/operating_model/cells/upside_2027q4_cost_budget:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cost_budget:upside/labelNoneOperating cost/contribution budget
/operating_model/cells/upside_2027q4_cost_budget:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cost_budget:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cost_budget:upside/valueNone725.0
/operating_model/cells/upside_2027q4_cost_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cost_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cost_factor:upside/idNoneupside_2027q4_cost_factor
/operating_model/cells/upside_2027q4_cost_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cost_factor:upside/labelNoneCost execution stress
/operating_model/cells/upside_2027q4_cost_factor:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cost_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q4_cost_factor:upside/valueNone0.98
/operating_model/cells/upside_2027q4_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_da:upside/caseNoneupside
/operating_model/cells/upside_2027q4_da:upside/idNoneupside_2027q4_da
/operating_model/cells/upside_2027q4_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_da:upside/labelNoneDepreciation and amortization
/operating_model/cells/upside_2027q4_da:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_da:upside/valueNone375.0
/operating_model/cells/upside_2027q4_debt_principal:upside/basisNoneDesk repayment allowance, not a complete facility amortization/refinancing forecast. New September revolver draws and later repayment are excluded until specified.
/operating_model/cells/upside_2027q4_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_2027q4_debt_principal:upside/idNoneupside_2027q4_debt_principal
/operating_model/cells/upside_2027q4_debt_principal:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_debt_principal:upside/labelNoneExisting-facility scheduled principal allowance
/operating_model/cells/upside_2027q4_debt_principal:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_debt_principal:upside/valueNone150.0
/operating_model/cells/upside_2027q4_dividend_factor:upside/basisNoneFuture board declaration required. Base repeats the $0.04/share rate; not a perpetual obligation.
/operating_model/cells/upside_2027q4_dividend_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q4_dividend_factor:upside/idNoneupside_2027q4_dividend_factor
/operating_model/cells/upside_2027q4_dividend_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_dividend_factor:upside/labelNoneDividend rate relative to September declaration
/operating_model/cells/upside_2027q4_dividend_factor:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_dividend_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q4_dividend_factor:upside/valueNone1.0
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/basisNoneNormalize shares before multiplying aggregate dividend cash.
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/formula/opNonedivide
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/formula/refs/0Noneupside_2027q4_shares
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/formula/refs/1Nonecommon_shares
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/idNoneupside_2027q4_dividend_share_factor
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/kindNonederived
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/labelNoneShares relative to July baseline
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q4_dividend_share_factor:upside/valueNone1.0059997771658762
/operating_model/cells/upside_2027q4_fcf:upside/basisNoneBefore project financing and capital-holder distributions.
/operating_model/cells/upside_2027q4_fcf:upside/caseNoneupside
/operating_model/cells/upside_2027q4_fcf:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_fcf:upside/formula/refs/0Noneupside_2027q4_cfo
/operating_model/cells/upside_2027q4_fcf:upside/formula/refs/1Noneupside_2027q4_capex
/operating_model/cells/upside_2027q4_fcf:upside/idNoneupside_2027q4_fcf
/operating_model/cells/upside_2027q4_fcf:upside/kindNonederived
/operating_model/cells/upside_2027q4_fcf:upside/labelNoneCFO less cash capex
/operating_model/cells/upside_2027q4_fcf:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_fcf:upside/valueNone-373.91200000000026
/operating_model/cells/upside_2027q4_fee_revenue:upside/basisNonePost-COD conversion can lower unit margin even as shipments grow.
/operating_model/cells/upside_2027q4_fee_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_fee_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_fee_revenue:upside/formula/refs/0Noneupside_2027q4_spa_fees
/operating_model/cells/upside_2027q4_fee_revenue:upside/formula/refs/1Noneupside_2027q4_commission_fees
/operating_model/cells/upside_2027q4_fee_revenue:upside/formula/refs/2Noneupside_2027q4_merchant_fees
/operating_model/cells/upside_2027q4_fee_revenue:upside/idNoneupside_2027q4_fee_revenue
/operating_model/cells/upside_2027q4_fee_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q4_fee_revenue:upside/labelNoneLNG fee revenue
/operating_model/cells/upside_2027q4_fee_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_fee_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_fee_revenue:upside/valueNone3381.5879999999997
/operating_model/cells/upside_2027q4_feed_gas:upside/basisNoneDesk all-in pass-through recovery; same value added to cost, zero EBITDA effect.
/operating_model/cells/upside_2027q4_feed_gas:upside/caseNoneupside
/operating_model/cells/upside_2027q4_feed_gas:upside/idNoneupside_2027q4_feed_gas
/operating_model/cells/upside_2027q4_feed_gas:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_feed_gas:upside/labelNoneFeed-gas recovery per TBtu
/operating_model/cells/upside_2027q4_feed_gas:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_feed_gas:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_feed_gas:upside/valueNone3.5
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/basisNoneNot the fixed liquefaction fee.
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/caseNoneupside
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/formula/refs/0Noneupside_2027q4_volume
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/formula/refs/1Noneupside_2027q4_feed_gas
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/idNoneupside_2027q4_feed_gas_recovery
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/kindNonederived
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/labelNoneFeed gas recovery revenue
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_feed_gas_recovery:upside/valueNone2222.64
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/basisNoneIllustrative incremental cash shock; not a loss estimate, reserve, probability or cap on unresolved damages. Could occur outside this quarter.
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/caseNoneupside
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/idNoneupside_2027q4_legal_cash_stress
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/labelNoneAdditional litigation cash stress
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_legal_cash_stress:upside/valueNone0.0
/operating_model/cells/upside_2027q4_merchant_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q4_merchant_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q4_merchant_fee:upside/idNoneupside_2027q4_merchant_fee
/operating_model/cells/upside_2027q4_merchant_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_merchant_fee:upside/labelNonemerchant fee revenue per TBtu
/operating_model/cells/upside_2027q4_merchant_fee:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_merchant_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_merchant_fee:upside/valueNone12.0
/operating_model/cells/upside_2027q4_merchant_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q4_merchant_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q4_merchant_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_merchant_fees:upside/formula/refs/0Noneupside_2027q4_volume
/operating_model/cells/upside_2027q4_merchant_fees:upside/formula/refs/1Noneupside_2027q4_merchant_share
/operating_model/cells/upside_2027q4_merchant_fees:upside/formula/refs/2Noneupside_2027q4_merchant_fee
/operating_model/cells/upside_2027q4_merchant_fees:upside/idNoneupside_2027q4_merchant_fees
/operating_model/cells/upside_2027q4_merchant_fees:upside/kindNonederived
/operating_model/cells/upside_2027q4_merchant_fees:upside/labelNonemerchant fee revenue
/operating_model/cells/upside_2027q4_merchant_fees:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_merchant_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_merchant_fees:upside/valueNone1905.12
/operating_model/cells/upside_2027q4_merchant_share:upside/basisNoneNo double-counted sales mix.
/operating_model/cells/upside_2027q4_merchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q4_merchant_share:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_merchant_share:upside/formula/refs/0Noneupside_2027q4_one
/operating_model/cells/upside_2027q4_merchant_share:upside/formula/refs/1Noneupside_2027q4_nonmerchant_share
/operating_model/cells/upside_2027q4_merchant_share:upside/idNoneupside_2027q4_merchant_share
/operating_model/cells/upside_2027q4_merchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q4_merchant_share:upside/labelNoneRemaining merchant volume share
/operating_model/cells/upside_2027q4_merchant_share:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_merchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q4_merchant_share:upside/valueNone0.25
/operating_model/cells/upside_2027q4_nci_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_nci_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q4_nci_cash:upside/idNoneupside_2027q4_nci_cash
/operating_model/cells/upside_2027q4_nci_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_nci_cash:upside/labelNoneCalcasieu non-controlling cash distribution
/operating_model/cells/upside_2027q4_nci_cash:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_nci_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_nci_cash:upside/valueNone45.0
/operating_model/cells/upside_2027q4_noncash_deductions:upside/basisNoneAll are already excluded from this EBITDA proxy.
/operating_model/cells/upside_2027q4_noncash_deductions:upside/caseNoneupside
/operating_model/cells/upside_2027q4_noncash_deductions:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_noncash_deductions:upside/formula/refs/0Noneupside_2027q4_da
/operating_model/cells/upside_2027q4_noncash_deductions:upside/formula/refs/1Noneupside_2027q4_sbc
/operating_model/cells/upside_2027q4_noncash_deductions:upside/formula/refs/2Noneupside_2027q4_other_adjustments
/operating_model/cells/upside_2027q4_noncash_deductions:upside/idNoneupside_2027q4_noncash_deductions
/operating_model/cells/upside_2027q4_noncash_deductions:upside/kindNonederived
/operating_model/cells/upside_2027q4_noncash_deductions:upside/labelNoneD&A equity expense and other deductions
/operating_model/cells/upside_2027q4_noncash_deductions:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_noncash_deductions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_noncash_deductions:upside/valueNone405.0
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/basisNoneMutually exclusive price buckets.
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/caseNoneupside
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/formula/refs/0Noneupside_2027q4_spa_share
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/formula/refs/1Noneupside_2027q4_commission_share
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/idNoneupside_2027q4_nonmerchant_share
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/kindNonederived
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/labelNoneSPA plus precontracted commissioning share
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/unitNoneratio
/operating_model/cells/upside_2027q4_nonmerchant_share:upside/valueNone0.75
/operating_model/cells/upside_2027q4_one:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_one:upside/caseNoneupside
/operating_model/cells/upside_2027q4_one:upside/idNoneupside_2027q4_one
/operating_model/cells/upside_2027q4_one:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_one:upside/labelNoneAll recognized volume
/operating_model/cells/upside_2027q4_one:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_one:upside/unitNoneratio
/operating_model/cells/upside_2027q4_one:upside/valueNone1.0
/operating_model/cells/upside_2027q4_operating_income:upside/basisNoneDoes not forecast financing gains, NCI allocation or common EPS.
/operating_model/cells/upside_2027q4_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q4_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/0Noneupside_2027q4_adj_ebitda
/operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/1Noneupside_2027q4_noncash_deductions
/operating_model/cells/upside_2027q4_operating_income:upside/idNoneupside_2027q4_operating_income
/operating_model/cells/upside_2027q4_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q4_operating_income:upside/labelNoneGAAP operating income proxy
/operating_model/cells/upside_2027q4_operating_income:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_operating_income:upside/valueNone2266.0879999999997
/operating_model/cells/upside_2027q4_other_adjustments:upside/basisNoneDesk allowance; no automatic derivative fair-value gain or financing gain repetition.
/operating_model/cells/upside_2027q4_other_adjustments:upside/caseNoneupside
/operating_model/cells/upside_2027q4_other_adjustments:upside/idNoneupside_2027q4_other_adjustments
/operating_model/cells/upside_2027q4_other_adjustments:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_other_adjustments:upside/labelNoneOther adjusted-EBITDA to operating-income deductions
/operating_model/cells/upside_2027q4_other_adjustments:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_other_adjustments:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_other_adjustments:upside/valueNone5.0
/operating_model/cells/upside_2027q4_preferred_redemption:upside/basisNoneThese specific units were fully redeemed by June; VGLNG Series A remains outstanding.
/operating_model/cells/upside_2027q4_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_2027q4_preferred_redemption:upside/idNoneupside_2027q4_preferred_redemption
/operating_model/cells/upside_2027q4_preferred_redemption:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_preferred_redemption:upside/labelNoneCP Funding preferred redemption
/operating_model/cells/upside_2027q4_preferred_redemption:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_2027q4_revenue:upside/basisNoneConsolidated normalization; net other contribution sits in the cost calibration. Not a sum of intercompany segment sales.
/operating_model/cells/upside_2027q4_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_revenue:upside/formula/refs/0Noneupside_2027q4_fee_revenue
/operating_model/cells/upside_2027q4_revenue:upside/formula/refs/1Noneupside_2027q4_feed_gas_recovery
/operating_model/cells/upside_2027q4_revenue:upside/idNoneupside_2027q4_revenue
/operating_model/cells/upside_2027q4_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q4_revenue:upside/labelNoneConsolidated revenue proxy
/operating_model/cells/upside_2027q4_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_revenue:upside/valueNone5604.227999999999
/operating_model/cells/upside_2027q4_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q4_sbc:upside/idNoneupside_2027q4_sbc
/operating_model/cells/upside_2027q4_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_sbc:upside/labelNoneStock compensation
/operating_model/cells/upside_2027q4_sbc:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_sbc:upside/valueNone25.0
/operating_model/cells/upside_2027q4_series_a_cash:upside/basisNoneSemiannual $135M payment assumption at 9% on outstanding Series A; declarations required. Distinct from redeemed CP Funding units.
/operating_model/cells/upside_2027q4_series_a_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q4_series_a_cash:upside/idNoneupside_2027q4_series_a_cash
/operating_model/cells/upside_2027q4_series_a_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_series_a_cash:upside/labelNoneVGLNG Series A cash dividend
/operating_model/cells/upside_2027q4_series_a_cash:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_series_a_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_series_a_cash:upside/valueNone0.0
/operating_model/cells/upside_2027q4_share_growth:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_share_growth:upside/caseNoneupside
/operating_model/cells/upside_2027q4_share_growth:upside/idNoneupside_2027q4_share_growth
/operating_model/cells/upside_2027q4_share_growth:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_share_growth:upside/labelNoneAdditional common shares since July
/operating_model/cells/upside_2027q4_share_growth:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_share_growth:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q4_share_growth:upside/valueNone15.0
/operating_model/cells/upside_2027q4_shares:upside/basisNoneDesk share progression, not diluted EPS shares.
/operating_model/cells/upside_2027q4_shares:upside/caseNoneupside
/operating_model/cells/upside_2027q4_shares:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_shares:upside/formula/refs/0Nonecommon_shares
/operating_model/cells/upside_2027q4_shares:upside/formula/refs/1Noneupside_2027q4_share_growth
/operating_model/cells/upside_2027q4_shares:upside/idNoneupside_2027q4_shares
/operating_model/cells/upside_2027q4_shares:upside/kindNonederived
/operating_model/cells/upside_2027q4_shares:upside/labelNoneClass A plus Class B shares for dividend cash
/operating_model/cells/upside_2027q4_shares:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_shares:upside/unitNoneshares_millions
/operating_model/cells/upside_2027q4_shares:upside/valueNone2515.092851
/operating_model/cells/upside_2027q4_spa_fee:upside/basisNoneDesk normalized $M per TBtu, equivalent to $/MMBtu. SPA fee is not the reported 2026 contracted commissioning fee.
/operating_model/cells/upside_2027q4_spa_fee:upside/caseNoneupside
/operating_model/cells/upside_2027q4_spa_fee:upside/idNoneupside_2027q4_spa_fee
/operating_model/cells/upside_2027q4_spa_fee:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_spa_fee:upside/labelNonespa fee revenue per TBtu
/operating_model/cells/upside_2027q4_spa_fee:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_spa_fee:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_spa_fee:upside/valueNone2.5
/operating_model/cells/upside_2027q4_spa_fees:upside/basisNoneRecognized physical volume times its specific mix and fee.
/operating_model/cells/upside_2027q4_spa_fees:upside/caseNoneupside
/operating_model/cells/upside_2027q4_spa_fees:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_spa_fees:upside/formula/refs/0Noneupside_2027q4_volume
/operating_model/cells/upside_2027q4_spa_fees:upside/formula/refs/1Noneupside_2027q4_spa_share
/operating_model/cells/upside_2027q4_spa_fees:upside/formula/refs/2Noneupside_2027q4_spa_fee
/operating_model/cells/upside_2027q4_spa_fees:upside/idNoneupside_2027q4_spa_fees
/operating_model/cells/upside_2027q4_spa_fees:upside/kindNonederived
/operating_model/cells/upside_2027q4_spa_fees:upside/labelNonespa fee revenue
/operating_model/cells/upside_2027q4_spa_fees:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_spa_fees:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_spa_fees:upside/valueNone1031.94
/operating_model/cells/upside_2027q4_spa_share:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_spa_share:upside/caseNoneupside
/operating_model/cells/upside_2027q4_spa_share:upside/idNoneupside_2027q4_spa_share
/operating_model/cells/upside_2027q4_spa_share:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_spa_share:upside/labelNoneRecognized volume sold under post-COD SPAs
/operating_model/cells/upside_2027q4_spa_share:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_spa_share:upside/unitNoneratio
/operating_model/cells/upside_2027q4_spa_share:upside/valueNone0.65
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/basisNoneDo not subtract NCI EBITDA from CFO again; only the distribution is a separate cash use.
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/formula/refs/0Noneupside_2027q4_series_a_cash
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/formula/refs/1Noneupside_2027q4_nci_cash
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/idNoneupside_2027q4_subsidiary_distributions
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/labelNoneSubsidiary preferred and NCI distributions
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_subsidiary_distributions:upside/valueNone45.0
/operating_model/cells/upside_2027q4_volume:upside/basisNoneIncludes recognition lag separately from exported cargo counts.
/operating_model/cells/upside_2027q4_volume:upside/caseNoneupside
/operating_model/cells/upside_2027q4_volume:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_volume:upside/formula/refs/0Noneupside_2027q4_cargos
/operating_model/cells/upside_2027q4_volume:upside/formula/refs/1Nonecargo_size
/operating_model/cells/upside_2027q4_volume:upside/formula/refs/2Nonesales_timing
/operating_model/cells/upside_2027q4_volume:upside/idNoneupside_2027q4_volume
/operating_model/cells/upside_2027q4_volume:upside/kindNonederived
/operating_model/cells/upside_2027q4_volume:upside/labelNoneRecognized LNG sales TBtu
/operating_model/cells/upside_2027q4_volume:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_volume:upside/unitNoneratio
/operating_model/cells/upside_2027q4_volume:upside/valueNone635.04
/operating_model/cells/upside_2027q4_volume_factor:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_volume_factor:upside/caseNoneupside
/operating_model/cells/upside_2027q4_volume_factor:upside/idNoneupside_2027q4_volume_factor
/operating_model/cells/upside_2027q4_volume_factor:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_volume_factor:upside/labelNoneCargo delivery factor
/operating_model/cells/upside_2027q4_volume_factor:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_volume_factor:upside/unitNoneratio
/operating_model/cells/upside_2027q4_volume_factor:upside/valueNone1.08
/operating_model/cells/upside_2027q4_wc_use:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_wc_use:upside/caseNoneupside
/operating_model/cells/upside_2027q4_wc_use:upside/idNoneupside_2027q4_wc_use
/operating_model/cells/upside_2027q4_wc_use:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_wc_use:upside/labelNoneNet working-capital and other operating cash use
/operating_model/cells/upside_2027q4_wc_use:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_wc_use:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_wc_use:upside/valueNone50.0
/operating_model/cells/upside_fy2026_adj_ebitda:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_fy2026_adj_ebitda:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_adj_ebitda:upside/formula/refs/0Noneh1_adj_ebitda
/operating_model/cells/upside_fy2026_adj_ebitda:upside/formula/refs/1Noneupside_2026q3_adj_ebitda
/operating_model/cells/upside_fy2026_adj_ebitda:upside/formula/refs/2Noneupside_2026q4_adj_ebitda
/operating_model/cells/upside_fy2026_adj_ebitda:upside/idNoneupside_fy2026_adj_ebitda
/operating_model/cells/upside_fy2026_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_fy2026_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/upside_fy2026_adj_ebitda:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_adj_ebitda:upside/valueNone9446.1422
/operating_model/cells/upside_fy2026_capex:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_capex:upside/caseNoneupside
/operating_model/cells/upside_fy2026_capex:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/0Noneh1_capex
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/1Noneupside_2026q3_capex
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/2Noneupside_2026q4_capex
/operating_model/cells/upside_fy2026_capex:upside/idNoneupside_fy2026_capex
/operating_model/cells/upside_fy2026_capex:upside/kindNonederived
/operating_model/cells/upside_fy2026_capex:upside/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/upside_fy2026_capex:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_capex:upside/valueNone13800.0
/operating_model/cells/upside_fy2026_cash_after_claims:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_fy2026_cash_after_claims:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_cash_after_claims:upside/formula/refs/0Noneh1_cash_after_claims
/operating_model/cells/upside_fy2026_cash_after_claims:upside/formula/refs/1Noneupside_2026q3_cash_after_claims
/operating_model/cells/upside_fy2026_cash_after_claims:upside/formula/refs/2Noneupside_2026q4_cash_after_claims
/operating_model/cells/upside_fy2026_cash_after_claims:upside/idNoneupside_fy2026_cash_after_claims
/operating_model/cells/upside_fy2026_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_fy2026_cash_after_claims:upside/labelNoneCash after distributions and principal ($M)
/operating_model/cells/upside_fy2026_cash_after_claims:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_cash_after_claims:upside/valueNone-13356.98522808
/operating_model/cells/upside_fy2026_cfo:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_cfo:upside/caseNoneupside
/operating_model/cells/upside_fy2026_cfo:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/0Noneh1_cfo
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/1Noneupside_2026q3_cfo
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/2Noneupside_2026q4_cfo
/operating_model/cells/upside_fy2026_cfo:upside/idNoneupside_fy2026_cfo
/operating_model/cells/upside_fy2026_cfo:upside/kindNonederived
/operating_model/cells/upside_fy2026_cfo:upside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/upside_fy2026_cfo:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_cfo:upside/valueNone7143.1422
/operating_model/cells/upside_fy2026_common_dividends:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_fy2026_common_dividends:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_common_dividends:upside/formula/refs/0Noneh1_common_dividends
/operating_model/cells/upside_fy2026_common_dividends:upside/formula/refs/1Noneupside_2026q3_common_dividends
/operating_model/cells/upside_fy2026_common_dividends:upside/formula/refs/2Noneupside_2026q4_common_dividends
/operating_model/cells/upside_fy2026_common_dividends:upside/idNoneupside_fy2026_common_dividends
/operating_model/cells/upside_fy2026_common_dividends:upside/kindNonederived
/operating_model/cells/upside_fy2026_common_dividends:upside/labelNoneCommon cash dividends ($M)
/operating_model/cells/upside_fy2026_common_dividends:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_common_dividends:upside/valueNone289.12742807999996
/operating_model/cells/upside_fy2026_debt_principal:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_fy2026_debt_principal:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_debt_principal:upside/formula/refs/0Noneh1_debt_principal
/operating_model/cells/upside_fy2026_debt_principal:upside/formula/refs/1Noneupside_2026q3_debt_principal
/operating_model/cells/upside_fy2026_debt_principal:upside/formula/refs/2Noneupside_2026q4_debt_principal
/operating_model/cells/upside_fy2026_debt_principal:upside/idNoneupside_fy2026_debt_principal
/operating_model/cells/upside_fy2026_debt_principal:upside/kindNonederived
/operating_model/cells/upside_fy2026_debt_principal:upside/labelNoneDebt principal repayments ($M)
/operating_model/cells/upside_fy2026_debt_principal:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_debt_principal:upside/valueNone4243.0
/operating_model/cells/upside_fy2026_fcf:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_fcf:upside/caseNoneupside
/operating_model/cells/upside_fy2026_fcf:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_fcf:upside/formula/refs/0Noneh1_fcf
/operating_model/cells/upside_fy2026_fcf:upside/formula/refs/1Noneupside_2026q3_fcf
/operating_model/cells/upside_fy2026_fcf:upside/formula/refs/2Noneupside_2026q4_fcf
/operating_model/cells/upside_fy2026_fcf:upside/idNoneupside_fy2026_fcf
/operating_model/cells/upside_fy2026_fcf:upside/kindNonederived
/operating_model/cells/upside_fy2026_fcf:upside/labelNoneCFO less cash capex ($M)
/operating_model/cells/upside_fy2026_fcf:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_fcf:upside/valueNone-6656.8578
/operating_model/cells/upside_fy2026_operating_income:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_operating_income:upside/caseNoneupside
/operating_model/cells/upside_fy2026_operating_income:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/0Noneh1_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/1Noneupside_2026q3_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/2Noneupside_2026q4_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/idNoneupside_fy2026_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/kindNonederived
/operating_model/cells/upside_fy2026_operating_income:upside/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/upside_fy2026_operating_income:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_operating_income:upside/valueNone8320.1422
/operating_model/cells/upside_fy2026_preferred_redemption:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_fy2026_preferred_redemption:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_preferred_redemption:upside/formula/refs/0Noneh1_preferred_redemption
/operating_model/cells/upside_fy2026_preferred_redemption:upside/formula/refs/1Noneupside_2026q3_preferred_redemption
/operating_model/cells/upside_fy2026_preferred_redemption:upside/formula/refs/2Noneupside_2026q4_preferred_redemption
/operating_model/cells/upside_fy2026_preferred_redemption:upside/idNoneupside_fy2026_preferred_redemption
/operating_model/cells/upside_fy2026_preferred_redemption:upside/kindNonederived
/operating_model/cells/upside_fy2026_preferred_redemption:upside/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/upside_fy2026_preferred_redemption:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_preferred_redemption:upside/valueNone1743.0
/operating_model/cells/upside_fy2026_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2026_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/0Noneh1_revenue
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/1Noneupside_2026q3_revenue
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/2Noneupside_2026q4_revenue
/operating_model/cells/upside_fy2026_revenue:upside/idNoneupside_fy2026_revenue
/operating_model/cells/upside_fy2026_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2026_revenue:upside/labelNoneConsolidated revenue ($M)
/operating_model/cells/upside_fy2026_revenue:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_revenue:upside/valueNone19704.8841
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/formula/refs/0Noneh1_subsidiary_distributions
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/formula/refs/1Noneupside_2026q3_subsidiary_distributions
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/formula/refs/2Noneupside_2026q4_subsidiary_distributions
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/idNoneupside_fy2026_subsidiary_distributions
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_subsidiary_distributions:upside/valueNone425.0
/operating_model/cells/upside_fy2027_adj_ebitda:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_adj_ebitda:upside/caseNoneupside
/operating_model/cells/upside_fy2027_adj_ebitda:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_adj_ebitda:upside/formula/refs/0Noneupside_2027q1_adj_ebitda
/operating_model/cells/upside_fy2027_adj_ebitda:upside/formula/refs/1Noneupside_2027q2_adj_ebitda
/operating_model/cells/upside_fy2027_adj_ebitda:upside/formula/refs/2Noneupside_2027q3_adj_ebitda
/operating_model/cells/upside_fy2027_adj_ebitda:upside/formula/refs/3Noneupside_2027q4_adj_ebitda
/operating_model/cells/upside_fy2027_adj_ebitda:upside/idNoneupside_fy2027_adj_ebitda
/operating_model/cells/upside_fy2027_adj_ebitda:upside/kindNonederived
/operating_model/cells/upside_fy2027_adj_ebitda:upside/labelNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/cells/upside_fy2027_adj_ebitda:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_adj_ebitda:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_adj_ebitda:upside/valueNone11114.639374999999
/operating_model/cells/upside_fy2027_capex:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_capex:upside/caseNoneupside
/operating_model/cells/upside_fy2027_capex:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/0Noneupside_2027q1_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/1Noneupside_2027q2_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/2Noneupside_2027q3_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/3Noneupside_2027q4_capex
/operating_model/cells/upside_fy2027_capex:upside/idNoneupside_fy2027_capex
/operating_model/cells/upside_fy2027_capex:upside/kindNonederived
/operating_model/cells/upside_fy2027_capex:upside/labelNoneGross cash capex incl. capitalized interest ($M)
/operating_model/cells/upside_fy2027_capex:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_capex:upside/valueNone11100.0
/operating_model/cells/upside_fy2027_cash_after_claims:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_cash_after_claims:upside/caseNoneupside
/operating_model/cells/upside_fy2027_cash_after_claims:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_cash_after_claims:upside/formula/refs/0Noneupside_2027q1_cash_after_claims
/operating_model/cells/upside_fy2027_cash_after_claims:upside/formula/refs/1Noneupside_2027q2_cash_after_claims
/operating_model/cells/upside_fy2027_cash_after_claims:upside/formula/refs/2Noneupside_2027q3_cash_after_claims
/operating_model/cells/upside_fy2027_cash_after_claims:upside/formula/refs/3Noneupside_2027q4_cash_after_claims
/operating_model/cells/upside_fy2027_cash_after_claims:upside/idNoneupside_fy2027_cash_after_claims
/operating_model/cells/upside_fy2027_cash_after_claims:upside/kindNonederived
/operating_model/cells/upside_fy2027_cash_after_claims:upside/labelNoneCash after distributions and principal ($M)
/operating_model/cells/upside_fy2027_cash_after_claims:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_cash_after_claims:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_cash_after_claims:upside/valueNone-4347.0554811599995
/operating_model/cells/upside_fy2027_cfo:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_cfo:upside/caseNoneupside
/operating_model/cells/upside_fy2027_cfo:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/0Noneupside_2027q1_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/1Noneupside_2027q2_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/2Noneupside_2027q3_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/3Noneupside_2027q4_cfo
/operating_model/cells/upside_fy2027_cfo:upside/idNoneupside_fy2027_cfo
/operating_model/cells/upside_fy2027_cfo:upside/kindNonederived
/operating_model/cells/upside_fy2027_cfo:upside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/upside_fy2027_cfo:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_cfo:upside/valueNone8204.639374999999
/operating_model/cells/upside_fy2027_common_dividends:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_common_dividends:upside/caseNoneupside
/operating_model/cells/upside_fy2027_common_dividends:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_common_dividends:upside/formula/refs/0Noneupside_2027q1_common_dividends
/operating_model/cells/upside_fy2027_common_dividends:upside/formula/refs/1Noneupside_2027q2_common_dividends
/operating_model/cells/upside_fy2027_common_dividends:upside/formula/refs/2Noneupside_2027q3_common_dividends
/operating_model/cells/upside_fy2027_common_dividends:upside/formula/refs/3Noneupside_2027q4_common_dividends
/operating_model/cells/upside_fy2027_common_dividends:upside/idNoneupside_fy2027_common_dividends
/operating_model/cells/upside_fy2027_common_dividends:upside/kindNonederived
/operating_model/cells/upside_fy2027_common_dividends:upside/labelNoneCommon cash dividends ($M)
/operating_model/cells/upside_fy2027_common_dividends:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_common_dividends:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_common_dividends:upside/valueNone401.69485616
/operating_model/cells/upside_fy2027_debt_principal:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_debt_principal:upside/caseNoneupside
/operating_model/cells/upside_fy2027_debt_principal:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_debt_principal:upside/formula/refs/0Noneupside_2027q1_debt_principal
/operating_model/cells/upside_fy2027_debt_principal:upside/formula/refs/1Noneupside_2027q2_debt_principal
/operating_model/cells/upside_fy2027_debt_principal:upside/formula/refs/2Noneupside_2027q3_debt_principal
/operating_model/cells/upside_fy2027_debt_principal:upside/formula/refs/3Noneupside_2027q4_debt_principal
/operating_model/cells/upside_fy2027_debt_principal:upside/idNoneupside_fy2027_debt_principal
/operating_model/cells/upside_fy2027_debt_principal:upside/kindNonederived
/operating_model/cells/upside_fy2027_debt_principal:upside/labelNoneDebt principal repayments ($M)
/operating_model/cells/upside_fy2027_debt_principal:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_debt_principal:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_debt_principal:upside/valueNone600.0
/operating_model/cells/upside_fy2027_fcf:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_fcf:upside/caseNoneupside
/operating_model/cells/upside_fy2027_fcf:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_fcf:upside/formula/refs/0Noneupside_2027q1_fcf
/operating_model/cells/upside_fy2027_fcf:upside/formula/refs/1Noneupside_2027q2_fcf
/operating_model/cells/upside_fy2027_fcf:upside/formula/refs/2Noneupside_2027q3_fcf
/operating_model/cells/upside_fy2027_fcf:upside/formula/refs/3Noneupside_2027q4_fcf
/operating_model/cells/upside_fy2027_fcf:upside/idNoneupside_fy2027_fcf
/operating_model/cells/upside_fy2027_fcf:upside/kindNonederived
/operating_model/cells/upside_fy2027_fcf:upside/labelNoneCFO less cash capex ($M)
/operating_model/cells/upside_fy2027_fcf:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_fcf:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_fcf:upside/valueNone-2895.360625
/operating_model/cells/upside_fy2027_operating_income:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_operating_income:upside/caseNoneupside
/operating_model/cells/upside_fy2027_operating_income:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/0Noneupside_2027q1_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/1Noneupside_2027q2_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/2Noneupside_2027q3_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/3Noneupside_2027q4_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/idNoneupside_fy2027_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/kindNonederived
/operating_model/cells/upside_fy2027_operating_income:upside/labelNoneGAAP operating income proxy ($M)
/operating_model/cells/upside_fy2027_operating_income:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_operating_income:upside/valueNone9626.639374999999
/operating_model/cells/upside_fy2027_preferred_redemption:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_preferred_redemption:upside/caseNoneupside
/operating_model/cells/upside_fy2027_preferred_redemption:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_preferred_redemption:upside/formula/refs/0Noneupside_2027q1_preferred_redemption
/operating_model/cells/upside_fy2027_preferred_redemption:upside/formula/refs/1Noneupside_2027q2_preferred_redemption
/operating_model/cells/upside_fy2027_preferred_redemption:upside/formula/refs/2Noneupside_2027q3_preferred_redemption
/operating_model/cells/upside_fy2027_preferred_redemption:upside/formula/refs/3Noneupside_2027q4_preferred_redemption
/operating_model/cells/upside_fy2027_preferred_redemption:upside/idNoneupside_fy2027_preferred_redemption
/operating_model/cells/upside_fy2027_preferred_redemption:upside/kindNonederived
/operating_model/cells/upside_fy2027_preferred_redemption:upside/labelNoneCP Funding preferred redemption ($M)
/operating_model/cells/upside_fy2027_preferred_redemption:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_preferred_redemption:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_preferred_redemption:upside/valueNone0.0
/operating_model/cells/upside_fy2027_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2027_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/0Noneupside_2027q1_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/1Noneupside_2027q2_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/2Noneupside_2027q3_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/3Noneupside_2027q4_revenue
/operating_model/cells/upside_fy2027_revenue:upside/idNoneupside_fy2027_revenue
/operating_model/cells/upside_fy2027_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2027_revenue:upside/labelNoneConsolidated revenue ($M)
/operating_model/cells/upside_fy2027_revenue:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_revenue:upside/valueNone21727.794374999998
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/caseNoneupside
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/formula/refs/0Noneupside_2027q1_subsidiary_distributions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/formula/refs/1Noneupside_2027q2_subsidiary_distributions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/formula/refs/2Noneupside_2027q3_subsidiary_distributions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/formula/refs/3Noneupside_2027q4_subsidiary_distributions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/idNoneupside_fy2027_subsidiary_distributions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/kindNonederived
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/labelNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_subsidiary_distributions:upside/valueNone450.0
/operating_model/highlights/0Noneebitda_guide
/operating_model/highlights/1Noneunsold_sensitivity
/operating_model/highlights/10Noneh1_debt_draws
/operating_model/highlights/11Nonecash
/operating_model/highlights/12Nonerestricted_cash
/operating_model/highlights/13Nonedebt_face
/operating_model/highlights/14Nonecurrent_debt_carrying
/operating_model/highlights/15Nonenew_revolver_commitment
/operating_model/highlights/16Noneh2_residual_cost
/operating_model/highlights/17Nonecontracted_fee
/operating_model/highlights/2Noneh1_revenue
/operating_model/highlights/3Noneh1_common_net_income
/operating_model/highlights/4Noneh1_cfo
/operating_model/highlights/5Noneh1_capex
/operating_model/highlights/6Noneh1_fcf
/operating_model/highlights/7Noneh1_subsidiary_distributions
/operating_model/highlights/8Noneh1_preferred_redemption
/operating_model/highlights/9Noneh1_debt_principal
/operating_model/limitations/0NoneGuidance is consolidated adjusted EBITDA, including non-controlling interests, not free cash or common earnings. The 2026 calibrated residual combines operating costs and other contribution; it is not a disclosed segment margin.
/operating_model/limitations/1NoneOne TBtu equals one million MMBtu. A $1/MMBtu fee therefore produces $1M per TBtu sold. Cargo count, cargo size and recognized sales timing remain separate. Exported cargos are not identical to sales recognized.
/operating_model/limitations/2NoneThe $5.05/MMBtu contracted 2026 fee is not a disclosed perpetual post-COD SPA fee. FY2027 SPA, commissioning and merchant fees are explicit desk assumptions. Feed-gas recovery is modeled as a neutral pass-through, not LNG profit.
/operating_model/limitations/3NonePlaquemines Phase 1 targets Q4 2026 COD and Phase 2 mid-2027; CP2 first LNG targets H2 2027. Timing, output, sales mix and construction spend can move together. Expansion volumes targeting 2028/2029 and China Gas deliveries starting 2030 are outside this horizon.
/operating_model/limitations/4NoneCash PP&E includes capitalized interest and deposits. Forecast expensed cash interest excludes interest capitalized in capex; the model does not subtract the same construction interest twice.
/operating_model/limitations/5NoneForecast cash after claims is before new borrowing, debt issuance fees, acquisitions and changes in restricted reserves. No complete debt/covenant or distributable-parent-cash waterfall is supplied; project restrictions can trap cash.
/operating_model/limitations/6NoneThe September $3B revolver is a commitment maturing September 1, 2027, not $3B cash already received. No assumed draw is added to CFO or unrestricted cash, and its repayment would need a separate financing schedule if drawn.
/operating_model/limitations/7NoneLegal damages remain unresolved. The downside includes an editable $500M cash stress in Q4 2027, not a probability-weighted loss estimate, accounting reserve or worst-case cap; other cases omit incremental stress rather than imply no liability. No EPS or valuation forecast.
/operating_model/methodNoneCalibrate H2 2026 LNG fee contribution to the company EBITDA midpoint after reported H1, using export-cargo guidance, explicit size/sales timing and the midpoint of disclosed unsold-fee sensitivity. Feed-gas recovery adds revenue and cost equally. FY2027 replaces that calibration with separate post-COD SPA, precontracted commissioning and merchant mix assumptions, including CP2 volume only in H2. Deduct noncash expenses for operating profit; bridge EBITDA to cash after expensed cash interest, taxes and working capital. Gross cash construction includes capitalized interest. Subsidiary/common distributions, past redemption and principal are separate cash uses.
/operating_model/metrics/adj_ebitdaNoneConsolidated adjusted EBITDA proxy ($M)
/operating_model/metrics/capexNoneGross cash capex incl. capitalized interest ($M)
/operating_model/metrics/cash_after_claimsNoneCash after distributions and principal ($M)
/operating_model/metrics/cfoNoneOperating cash flow proxy ($M)
/operating_model/metrics/common_dividendsNoneCommon cash dividends ($M)
/operating_model/metrics/debt_principalNoneDebt principal repayments ($M)
/operating_model/metrics/fcfNoneCFO less cash capex ($M)
/operating_model/metrics/operating_incomeNoneGAAP operating income proxy ($M)
/operating_model/metrics/preferred_redemptionNoneCP Funding preferred redemption ($M)
/operating_model/metrics/revenueNoneConsolidated revenue ($M)
/operating_model/metrics/subsidiary_distributionsNoneSubsidiary preferred/NCI distributions ($M)
/operating_model/outputs/2026Q3:base/caseNonebase
/operating_model/outputs/2026Q3:base/frequencyNonequarter
/operating_model/outputs/2026Q3:base/metrics/adj_ebitdaNonebase_2026q3_adj_ebitda
/operating_model/outputs/2026Q3:base/metrics/capexNonebase_2026q3_capex
/operating_model/outputs/2026Q3:base/metrics/cash_after_claimsNonebase_2026q3_cash_after_claims
/operating_model/outputs/2026Q3:base/metrics/cfoNonebase_2026q3_cfo
/operating_model/outputs/2026Q3:base/metrics/common_dividendsNonebase_2026q3_common_dividends
/operating_model/outputs/2026Q3:base/metrics/debt_principalNonebase_2026q3_debt_principal
/operating_model/outputs/2026Q3:base/metrics/fcfNonebase_2026q3_fcf
/operating_model/outputs/2026Q3:base/metrics/operating_incomeNonebase_2026q3_operating_income
/operating_model/outputs/2026Q3:base/metrics/preferred_redemptionNonebase_2026q3_preferred_redemption
/operating_model/outputs/2026Q3:base/metrics/revenueNonebase_2026q3_revenue
/operating_model/outputs/2026Q3:base/metrics/subsidiary_distributionsNonebase_2026q3_subsidiary_distributions
/operating_model/outputs/2026Q3:base/periodNone2026Q3
/operating_model/outputs/2026Q3:base/period_endNone2026-09-30
/operating_model/outputs/2026Q3:base/values/adj_ebitdaNone2518.5
/operating_model/outputs/2026Q3:base/values/capexNone3400.0
/operating_model/outputs/2026Q3:base/values/cash_after_claimsNone-1936.50371404
/operating_model/outputs/2026Q3:base/values/cfoNone1818.5
/operating_model/outputs/2026Q3:base/values/common_dividendsNone100.00371403999999
/operating_model/outputs/2026Q3:base/values/debt_principalNone80.0
/operating_model/outputs/2026Q3:base/values/fcfNone-1581.5
/operating_model/outputs/2026Q3:base/values/operating_incomeNone2228.5
/operating_model/outputs/2026Q3:base/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q3:base/values/revenueNone4965.7275
/operating_model/outputs/2026Q3:base/values/subsidiary_distributionsNone175.0
/operating_model/outputs/2026Q3:downside/caseNonedownside
/operating_model/outputs/2026Q3:downside/frequencyNonequarter
/operating_model/outputs/2026Q3:downside/metrics/adj_ebitdaNonedownside_2026q3_adj_ebitda
/operating_model/outputs/2026Q3:downside/metrics/capexNonedownside_2026q3_capex
/operating_model/outputs/2026Q3:downside/metrics/cash_after_claimsNonedownside_2026q3_cash_after_claims
/operating_model/outputs/2026Q3:downside/metrics/cfoNonedownside_2026q3_cfo
/operating_model/outputs/2026Q3:downside/metrics/common_dividendsNonedownside_2026q3_common_dividends
/operating_model/outputs/2026Q3:downside/metrics/debt_principalNonedownside_2026q3_debt_principal
/operating_model/outputs/2026Q3:downside/metrics/fcfNonedownside_2026q3_fcf
/operating_model/outputs/2026Q3:downside/metrics/operating_incomeNonedownside_2026q3_operating_income
/operating_model/outputs/2026Q3:downside/metrics/preferred_redemptionNonedownside_2026q3_preferred_redemption
/operating_model/outputs/2026Q3:downside/metrics/revenueNonedownside_2026q3_revenue
/operating_model/outputs/2026Q3:downside/metrics/subsidiary_distributionsNonedownside_2026q3_subsidiary_distributions
/operating_model/outputs/2026Q3:downside/periodNone2026Q3
/operating_model/outputs/2026Q3:downside/period_endNone2026-09-30
/operating_model/outputs/2026Q3:downside/values/adj_ebitdaNone2118.070875
/operating_model/outputs/2026Q3:downside/values/capexNone4000.0
/operating_model/outputs/2026Q3:downside/values/cash_after_claimsNone-3086.93283904
/operating_model/outputs/2026Q3:downside/values/cfoNone1268.070875
/operating_model/outputs/2026Q3:downside/values/common_dividendsNone100.00371403999999
/operating_model/outputs/2026Q3:downside/values/debt_principalNone80.0
/operating_model/outputs/2026Q3:downside/values/fcfNone-2731.929125
/operating_model/outputs/2026Q3:downside/values/operating_incomeNone1828.070875
/operating_model/outputs/2026Q3:downside/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q3:downside/values/revenueNone4532.191125
/operating_model/outputs/2026Q3:downside/values/subsidiary_distributionsNone175.0
/operating_model/outputs/2026Q3:upside/caseNoneupside
/operating_model/outputs/2026Q3:upside/frequencyNonequarter
/operating_model/outputs/2026Q3:upside/metrics/adj_ebitdaNoneupside_2026q3_adj_ebitda
/operating_model/outputs/2026Q3:upside/metrics/capexNoneupside_2026q3_capex
/operating_model/outputs/2026Q3:upside/metrics/cash_after_claimsNoneupside_2026q3_cash_after_claims
/operating_model/outputs/2026Q3:upside/metrics/cfoNoneupside_2026q3_cfo
/operating_model/outputs/2026Q3:upside/metrics/common_dividendsNoneupside_2026q3_common_dividends
/operating_model/outputs/2026Q3:upside/metrics/debt_principalNoneupside_2026q3_debt_principal
/operating_model/outputs/2026Q3:upside/metrics/fcfNoneupside_2026q3_fcf
/operating_model/outputs/2026Q3:upside/metrics/operating_incomeNoneupside_2026q3_operating_income
/operating_model/outputs/2026Q3:upside/metrics/preferred_redemptionNoneupside_2026q3_preferred_redemption
/operating_model/outputs/2026Q3:upside/metrics/revenueNoneupside_2026q3_revenue
/operating_model/outputs/2026Q3:upside/metrics/subsidiary_distributionsNoneupside_2026q3_subsidiary_distributions
/operating_model/outputs/2026Q3:upside/periodNone2026Q3
/operating_model/outputs/2026Q3:upside/period_endNone2026-09-30
/operating_model/outputs/2026Q3:upside/values/adj_ebitdaNone2791.5711
/operating_model/outputs/2026Q3:upside/values/capexNone3400.0
/operating_model/outputs/2026Q3:upside/values/cash_after_claimsNone-1613.4326140399999
/operating_model/outputs/2026Q3:upside/values/cfoNone2141.5711
/operating_model/outputs/2026Q3:upside/values/common_dividendsNone100.00371403999999
/operating_model/outputs/2026Q3:upside/values/debt_principalNone80.0
/operating_model/outputs/2026Q3:upside/values/fcfNone-1258.4288999999999
/operating_model/outputs/2026Q3:upside/values/operating_incomeNone2501.5711
/operating_model/outputs/2026Q3:upside/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q3:upside/values/revenueNone5263.94205
/operating_model/outputs/2026Q3:upside/values/subsidiary_distributionsNone175.0
/operating_model/outputs/2026Q4:base/caseNonebase
/operating_model/outputs/2026Q4:base/frequencyNonequarter
/operating_model/outputs/2026Q4:base/metrics/adj_ebitdaNonebase_2026q4_adj_ebitda
/operating_model/outputs/2026Q4:base/metrics/capexNonebase_2026q4_capex
/operating_model/outputs/2026Q4:base/metrics/cash_after_claimsNonebase_2026q4_cash_after_claims
/operating_model/outputs/2026Q4:base/metrics/cfoNonebase_2026q4_cfo
/operating_model/outputs/2026Q4:base/metrics/common_dividendsNonebase_2026q4_common_dividends
/operating_model/outputs/2026Q4:base/metrics/debt_principalNonebase_2026q4_debt_principal
/operating_model/outputs/2026Q4:base/metrics/fcfNonebase_2026q4_fcf
/operating_model/outputs/2026Q4:base/metrics/operating_incomeNonebase_2026q4_operating_income
/operating_model/outputs/2026Q4:base/metrics/preferred_redemptionNonebase_2026q4_preferred_redemption
/operating_model/outputs/2026Q4:base/metrics/revenueNonebase_2026q4_revenue
/operating_model/outputs/2026Q4:base/metrics/subsidiary_distributionsNonebase_2026q4_subsidiary_distributions
/operating_model/outputs/2026Q4:base/periodNone2026Q4
/operating_model/outputs/2026Q4:base/period_endNone2026-12-31
/operating_model/outputs/2026Q4:base/values/adj_ebitdaNone2518.5
/operating_model/outputs/2026Q4:base/values/capexNone3600.0
/operating_model/outputs/2026Q4:base/values/cash_after_claimsNone-1976.6237140399999
/operating_model/outputs/2026Q4:base/values/cfoNone1843.5
/operating_model/outputs/2026Q4:base/values/common_dividendsNone100.12371403999998
/operating_model/outputs/2026Q4:base/values/debt_principalNone80.0
/operating_model/outputs/2026Q4:base/values/fcfNone-1756.5
/operating_model/outputs/2026Q4:base/values/operating_incomeNone2206.5
/operating_model/outputs/2026Q4:base/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q4:base/values/revenueNone4965.7275
/operating_model/outputs/2026Q4:base/values/subsidiary_distributionsNone40.0
/operating_model/outputs/2026Q4:downside/caseNonedownside
/operating_model/outputs/2026Q4:downside/frequencyNonequarter
/operating_model/outputs/2026Q4:downside/metrics/adj_ebitdaNonedownside_2026q4_adj_ebitda
/operating_model/outputs/2026Q4:downside/metrics/capexNonedownside_2026q4_capex
/operating_model/outputs/2026Q4:downside/metrics/cash_after_claimsNonedownside_2026q4_cash_after_claims
/operating_model/outputs/2026Q4:downside/metrics/cfoNonedownside_2026q4_cfo
/operating_model/outputs/2026Q4:downside/metrics/common_dividendsNonedownside_2026q4_common_dividends
/operating_model/outputs/2026Q4:downside/metrics/debt_principalNonedownside_2026q4_debt_principal
/operating_model/outputs/2026Q4:downside/metrics/fcfNonedownside_2026q4_fcf
/operating_model/outputs/2026Q4:downside/metrics/operating_incomeNonedownside_2026q4_operating_income
/operating_model/outputs/2026Q4:downside/metrics/preferred_redemptionNonedownside_2026q4_preferred_redemption
/operating_model/outputs/2026Q4:downside/metrics/revenueNonedownside_2026q4_revenue
/operating_model/outputs/2026Q4:downside/metrics/subsidiary_distributionsNonedownside_2026q4_subsidiary_distributions
/operating_model/outputs/2026Q4:downside/periodNone2026Q4
/operating_model/outputs/2026Q4:downside/period_endNone2026-12-31
/operating_model/outputs/2026Q4:downside/values/adj_ebitdaNone2118.070875
/operating_model/outputs/2026Q4:downside/values/capexNone4200.0
/operating_model/outputs/2026Q4:downside/values/cash_after_claimsNone-3077.05283904
/operating_model/outputs/2026Q4:downside/values/cfoNone1343.070875
/operating_model/outputs/2026Q4:downside/values/common_dividendsNone100.12371403999998
/operating_model/outputs/2026Q4:downside/values/debt_principalNone80.0
/operating_model/outputs/2026Q4:downside/values/fcfNone-2856.929125
/operating_model/outputs/2026Q4:downside/values/operating_incomeNone1806.070875
/operating_model/outputs/2026Q4:downside/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q4:downside/values/revenueNone4532.191125
/operating_model/outputs/2026Q4:downside/values/subsidiary_distributionsNone40.0
/operating_model/outputs/2026Q4:upside/caseNoneupside
/operating_model/outputs/2026Q4:upside/frequencyNonequarter
/operating_model/outputs/2026Q4:upside/metrics/adj_ebitdaNoneupside_2026q4_adj_ebitda
/operating_model/outputs/2026Q4:upside/metrics/capexNoneupside_2026q4_capex
/operating_model/outputs/2026Q4:upside/metrics/cash_after_claimsNoneupside_2026q4_cash_after_claims
/operating_model/outputs/2026Q4:upside/metrics/cfoNoneupside_2026q4_cfo
/operating_model/outputs/2026Q4:upside/metrics/common_dividendsNoneupside_2026q4_common_dividends
/operating_model/outputs/2026Q4:upside/metrics/debt_principalNoneupside_2026q4_debt_principal
/operating_model/outputs/2026Q4:upside/metrics/fcfNoneupside_2026q4_fcf
/operating_model/outputs/2026Q4:upside/metrics/operating_incomeNoneupside_2026q4_operating_income
/operating_model/outputs/2026Q4:upside/metrics/preferred_redemptionNoneupside_2026q4_preferred_redemption
/operating_model/outputs/2026Q4:upside/metrics/revenueNoneupside_2026q4_revenue
/operating_model/outputs/2026Q4:upside/metrics/subsidiary_distributionsNoneupside_2026q4_subsidiary_distributions
/operating_model/outputs/2026Q4:upside/periodNone2026Q4
/operating_model/outputs/2026Q4:upside/period_endNone2026-12-31
/operating_model/outputs/2026Q4:upside/values/adj_ebitdaNone2791.5711
/operating_model/outputs/2026Q4:upside/values/capexNone3500.0
/operating_model/outputs/2026Q4:upside/values/cash_after_claimsNone-1553.5526140399998
/operating_model/outputs/2026Q4:upside/values/cfoNone2166.5711
/operating_model/outputs/2026Q4:upside/values/common_dividendsNone100.12371403999998
/operating_model/outputs/2026Q4:upside/values/debt_principalNone80.0
/operating_model/outputs/2026Q4:upside/values/fcfNone-1333.4288999999999
/operating_model/outputs/2026Q4:upside/values/operating_incomeNone2479.5711
/operating_model/outputs/2026Q4:upside/values/preferred_redemptionNone0.0
/operating_model/outputs/2026Q4:upside/values/revenueNone5263.94205
/operating_model/outputs/2026Q4:upside/values/subsidiary_distributionsNone40.0
/operating_model/outputs/2027Q1:base/caseNonebase
/operating_model/outputs/2027Q1:base/frequencyNonequarter
/operating_model/outputs/2027Q1:base/metrics/adj_ebitdaNonebase_2027q1_adj_ebitda
/operating_model/outputs/2027Q1:base/metrics/capexNonebase_2027q1_capex
/operating_model/outputs/2027Q1:base/metrics/cash_after_claimsNonebase_2027q1_cash_after_claims
/operating_model/outputs/2027Q1:base/metrics/cfoNonebase_2027q1_cfo
/operating_model/outputs/2027Q1:base/metrics/common_dividendsNonebase_2027q1_common_dividends
/operating_model/outputs/2027Q1:base/metrics/debt_principalNonebase_2027q1_debt_principal
/operating_model/outputs/2027Q1:base/metrics/fcfNonebase_2027q1_fcf
/operating_model/outputs/2027Q1:base/metrics/operating_incomeNonebase_2027q1_operating_income
/operating_model/outputs/2027Q1:base/metrics/preferred_redemptionNonebase_2027q1_preferred_redemption
/operating_model/outputs/2027Q1:base/metrics/revenueNonebase_2027q1_revenue
/operating_model/outputs/2027Q1:base/metrics/subsidiary_distributionsNonebase_2027q1_subsidiary_distributions
/operating_model/outputs/2027Q1:base/periodNone2027Q1
/operating_model/outputs/2027Q1:base/period_endNone2027-03-31
/operating_model/outputs/2027Q1:base/values/adj_ebitdaNone1953.7375000000002
/operating_model/outputs/2027Q1:base/values/capexNone3400.0
/operating_model/outputs/2027Q1:base/values/cash_after_claimsNone-2646.5062140399996
/operating_model/outputs/2027Q1:base/values/cfoNone1183.7375000000002
/operating_model/outputs/2027Q1:base/values/common_dividendsNone100.24371403999999
/operating_model/outputs/2027Q1:base/values/debt_principalNone150.0
/operating_model/outputs/2027Q1:base/values/fcfNone-2216.2625
/operating_model/outputs/2027Q1:base/values/operating_incomeNone1614.7375000000002
/operating_model/outputs/2027Q1:base/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q1:base/values/revenueNone4275.8625
/operating_model/outputs/2027Q1:base/values/subsidiary_distributionsNone180.0
/operating_model/outputs/2027Q1:downside/caseNonedownside
/operating_model/outputs/2027Q1:downside/frequencyNonequarter
/operating_model/outputs/2027Q1:downside/metrics/adj_ebitdaNonedownside_2027q1_adj_ebitda
/operating_model/outputs/2027Q1:downside/metrics/capexNonedownside_2027q1_capex
/operating_model/outputs/2027Q1:downside/metrics/cash_after_claimsNonedownside_2027q1_cash_after_claims
/operating_model/outputs/2027Q1:downside/metrics/cfoNonedownside_2027q1_cfo
/operating_model/outputs/2027Q1:downside/metrics/common_dividendsNonedownside_2027q1_common_dividends
/operating_model/outputs/2027Q1:downside/metrics/debt_principalNonedownside_2027q1_debt_principal
/operating_model/outputs/2027Q1:downside/metrics/fcfNonedownside_2027q1_fcf
/operating_model/outputs/2027Q1:downside/metrics/operating_incomeNonedownside_2027q1_operating_income
/operating_model/outputs/2027Q1:downside/metrics/preferred_redemptionNonedownside_2027q1_preferred_redemption
/operating_model/outputs/2027Q1:downside/metrics/revenueNonedownside_2027q1_revenue
/operating_model/outputs/2027Q1:downside/metrics/subsidiary_distributionsNonedownside_2027q1_subsidiary_distributions
/operating_model/outputs/2027Q1:downside/periodNone2027Q1
/operating_model/outputs/2027Q1:downside/period_endNone2027-03-31
/operating_model/outputs/2027Q1:downside/values/adj_ebitdaNone994.1506249999996
/operating_model/outputs/2027Q1:downside/values/capexNone4000.0
/operating_model/outputs/2027Q1:downside/values/cash_after_claimsNone-4306.09308904
/operating_model/outputs/2027Q1:downside/values/cfoNone124.15062499999965
/operating_model/outputs/2027Q1:downside/values/common_dividendsNone100.24371403999999
/operating_model/outputs/2027Q1:downside/values/debt_principalNone150.0
/operating_model/outputs/2027Q1:downside/values/fcfNone-3875.8493750000002
/operating_model/outputs/2027Q1:downside/values/operating_incomeNone655.1506249999996
/operating_model/outputs/2027Q1:downside/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q1:downside/values/revenueNone3214.0631249999997
/operating_model/outputs/2027Q1:downside/values/subsidiary_distributionsNone180.0
/operating_model/outputs/2027Q1:upside/caseNoneupside
/operating_model/outputs/2027Q1:upside/frequencyNonequarter
/operating_model/outputs/2027Q1:upside/metrics/adj_ebitdaNoneupside_2027q1_adj_ebitda
/operating_model/outputs/2027Q1:upside/metrics/capexNoneupside_2027q1_capex
/operating_model/outputs/2027Q1:upside/metrics/cash_after_claimsNoneupside_2027q1_cash_after_claims
/operating_model/outputs/2027Q1:upside/metrics/cfoNoneupside_2027q1_cfo
/operating_model/outputs/2027Q1:upside/metrics/common_dividendsNoneupside_2027q1_common_dividends
/operating_model/outputs/2027Q1:upside/metrics/debt_principalNoneupside_2027q1_debt_principal
/operating_model/outputs/2027Q1:upside/metrics/fcfNoneupside_2027q1_fcf
/operating_model/outputs/2027Q1:upside/metrics/operating_incomeNoneupside_2027q1_operating_income
/operating_model/outputs/2027Q1:upside/metrics/preferred_redemptionNoneupside_2027q1_preferred_redemption
/operating_model/outputs/2027Q1:upside/metrics/revenueNoneupside_2027q1_revenue
/operating_model/outputs/2027Q1:upside/metrics/subsidiary_distributionsNoneupside_2027q1_subsidiary_distributions
/operating_model/outputs/2027Q1:upside/periodNone2027Q1
/operating_model/outputs/2027Q1:upside/period_endNone2027-03-31
/operating_model/outputs/2027Q1:upside/values/adj_ebitdaNone3090.88325
/operating_model/outputs/2027Q1:upside/values/capexNone3200.0
/operating_model/outputs/2027Q1:upside/values/cash_after_claimsNone-1259.3604640400001
/operating_model/outputs/2027Q1:upside/values/cfoNone2370.88325
/operating_model/outputs/2027Q1:upside/values/common_dividendsNone100.24371403999999
/operating_model/outputs/2027Q1:upside/values/debt_principalNone150.0
/operating_model/outputs/2027Q1:upside/values/fcfNone-829.1167500000001
/operating_model/outputs/2027Q1:upside/values/operating_incomeNone2751.88325
/operating_model/outputs/2027Q1:upside/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q1:upside/values/revenueNone5533.778249999999
/operating_model/outputs/2027Q1:upside/values/subsidiary_distributionsNone180.0
/operating_model/outputs/2027Q2:base/caseNonebase
/operating_model/outputs/2027Q2:base/frequencyNonequarter
/operating_model/outputs/2027Q2:base/metrics/adj_ebitdaNonebase_2027q2_adj_ebitda
/operating_model/outputs/2027Q2:base/metrics/capexNonebase_2027q2_capex
/operating_model/outputs/2027Q2:base/metrics/cash_after_claimsNonebase_2027q2_cash_after_claims
/operating_model/outputs/2027Q2:base/metrics/cfoNonebase_2027q2_cfo
/operating_model/outputs/2027Q2:base/metrics/common_dividendsNonebase_2027q2_common_dividends
/operating_model/outputs/2027Q2:base/metrics/debt_principalNonebase_2027q2_debt_principal
/operating_model/outputs/2027Q2:base/metrics/fcfNonebase_2027q2_fcf
/operating_model/outputs/2027Q2:base/metrics/operating_incomeNonebase_2027q2_operating_income
/operating_model/outputs/2027Q2:base/metrics/preferred_redemptionNonebase_2027q2_preferred_redemption
/operating_model/outputs/2027Q2:base/metrics/revenueNonebase_2027q2_revenue
/operating_model/outputs/2027Q2:base/metrics/subsidiary_distributionsNonebase_2027q2_subsidiary_distributions
/operating_model/outputs/2027Q2:base/periodNone2027Q2
/operating_model/outputs/2027Q2:base/period_endNone2027-06-30
/operating_model/outputs/2027Q2:base/values/adj_ebitdaNone1706.4000000000005
/operating_model/outputs/2027Q2:base/values/capexNone3200.0
/operating_model/outputs/2027Q2:base/values/cash_after_claimsNone-2513.9637140399996
/operating_model/outputs/2027Q2:base/values/cfoNone981.4000000000005
/operating_model/outputs/2027Q2:base/values/common_dividendsNone100.36371404
/operating_model/outputs/2027Q2:base/values/debt_principalNone150.0
/operating_model/outputs/2027Q2:base/values/fcfNone-2218.5999999999995
/operating_model/outputs/2027Q2:base/values/operating_incomeNone1345.4000000000005
/operating_model/outputs/2027Q2:base/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q2:base/values/revenueNone4117.837500000001
/operating_model/outputs/2027Q2:base/values/subsidiary_distributionsNone45.0
/operating_model/outputs/2027Q2:downside/caseNonedownside
/operating_model/outputs/2027Q2:downside/frequencyNonequarter
/operating_model/outputs/2027Q2:downside/metrics/adj_ebitdaNonedownside_2027q2_adj_ebitda
/operating_model/outputs/2027Q2:downside/metrics/capexNonedownside_2027q2_capex
/operating_model/outputs/2027Q2:downside/metrics/cash_after_claimsNonedownside_2027q2_cash_after_claims
/operating_model/outputs/2027Q2:downside/metrics/cfoNonedownside_2027q2_cfo
/operating_model/outputs/2027Q2:downside/metrics/common_dividendsNonedownside_2027q2_common_dividends
/operating_model/outputs/2027Q2:downside/metrics/debt_principalNonedownside_2027q2_debt_principal
/operating_model/outputs/2027Q2:downside/metrics/fcfNonedownside_2027q2_fcf
/operating_model/outputs/2027Q2:downside/metrics/operating_incomeNonedownside_2027q2_operating_income
/operating_model/outputs/2027Q2:downside/metrics/preferred_redemptionNonedownside_2027q2_preferred_redemption
/operating_model/outputs/2027Q2:downside/metrics/revenueNonedownside_2027q2_revenue
/operating_model/outputs/2027Q2:downside/metrics/subsidiary_distributionsNonedownside_2027q2_subsidiary_distributions
/operating_model/outputs/2027Q2:downside/periodNone2027Q2
/operating_model/outputs/2027Q2:downside/period_endNone2027-06-30
/operating_model/outputs/2027Q2:downside/values/adj_ebitdaNone876.1078124999998
/operating_model/outputs/2027Q2:downside/values/capexNone3900.0
/operating_model/outputs/2027Q2:downside/values/cash_after_claimsNone-4114.25590154
/operating_model/outputs/2027Q2:downside/values/cfoNone81.1078124999998
/operating_model/outputs/2027Q2:downside/values/common_dividendsNone100.36371404
/operating_model/outputs/2027Q2:downside/values/debt_principalNone150.0
/operating_model/outputs/2027Q2:downside/values/fcfNone-3818.8921875
/operating_model/outputs/2027Q2:downside/values/operating_incomeNone515.1078124999998
/operating_model/outputs/2027Q2:downside/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q2:downside/values/revenueNone3181.4015625
/operating_model/outputs/2027Q2:downside/values/subsidiary_distributionsNone45.0
/operating_model/outputs/2027Q2:upside/caseNoneupside
/operating_model/outputs/2027Q2:upside/frequencyNonequarter
/operating_model/outputs/2027Q2:upside/metrics/adj_ebitdaNoneupside_2027q2_adj_ebitda
/operating_model/outputs/2027Q2:upside/metrics/capexNoneupside_2027q2_capex
/operating_model/outputs/2027Q2:upside/metrics/cash_after_claimsNoneupside_2027q2_cash_after_claims
/operating_model/outputs/2027Q2:upside/metrics/cfoNoneupside_2027q2_cfo
/operating_model/outputs/2027Q2:upside/metrics/common_dividendsNoneupside_2027q2_common_dividends
/operating_model/outputs/2027Q2:upside/metrics/debt_principalNoneupside_2027q2_debt_principal
/operating_model/outputs/2027Q2:upside/metrics/fcfNoneupside_2027q2_fcf
/operating_model/outputs/2027Q2:upside/metrics/operating_incomeNoneupside_2027q2_operating_income
/operating_model/outputs/2027Q2:upside/metrics/preferred_redemptionNoneupside_2027q2_preferred_redemption
/operating_model/outputs/2027Q2:upside/metrics/revenueNoneupside_2027q2_revenue
/operating_model/outputs/2027Q2:upside/metrics/subsidiary_distributionsNoneupside_2027q2_subsidiary_distributions
/operating_model/outputs/2027Q2:upside/periodNone2027Q2
/operating_model/outputs/2027Q2:upside/period_endNone2027-06-30
/operating_model/outputs/2027Q2:upside/values/adj_ebitdaNone2700.7391249999996
/operating_model/outputs/2027Q2:upside/values/capexNone3000.0
/operating_model/outputs/2027Q2:upside/values/cash_after_claimsNone-1289.6245890400005
/operating_model/outputs/2027Q2:upside/values/cfoNone2005.7391249999996
/operating_model/outputs/2027Q2:upside/values/common_dividendsNone100.36371404
/operating_model/outputs/2027Q2:upside/values/debt_principalNone150.0
/operating_model/outputs/2027Q2:upside/values/fcfNone-994.2608750000004
/operating_model/outputs/2027Q2:upside/values/operating_incomeNone2339.7391249999996
/operating_model/outputs/2027Q2:upside/values/preferred_redemptionNone0.0
/operating_model/outputs/2027Q2:upside/values/revenueNone5237.591624999999
/operating_model/outputs/2027Q2:upside/values/subsidiary_distributionsNone45.0
/operating_model/outputs/FY2026:base/caseNonebase
/operating_model/outputs/FY2026:base/frequencyNoneyear
/operating_model/outputs/FY2026:base/metrics/adj_ebitdaNonebase_fy2026_adj_ebitda
/operating_model/outputs/FY2026:base/metrics/capexNonebase_fy2026_capex
/operating_model/outputs/FY2026:base/metrics/cash_after_claimsNonebase_fy2026_cash_after_claims
/operating_model/outputs/FY2026:base/metrics/cfoNonebase_fy2026_cfo
/operating_model/outputs/FY2026:base/metrics/common_dividendsNonebase_fy2026_common_dividends
/operating_model/outputs/FY2026:base/metrics/debt_principalNonebase_fy2026_debt_principal
/operating_model/outputs/FY2026:base/metrics/fcfNonebase_fy2026_fcf
/operating_model/outputs/FY2026:base/metrics/operating_incomeNonebase_fy2026_operating_income
/operating_model/outputs/FY2026:base/metrics/preferred_redemptionNonebase_fy2026_preferred_redemption
/operating_model/outputs/FY2026:base/metrics/revenueNonebase_fy2026_revenue
/operating_model/outputs/FY2026:base/metrics/subsidiary_distributionsNonebase_fy2026_subsidiary_distributions
/operating_model/outputs/FY2026:base/periodNoneFY2026
/operating_model/outputs/FY2026:base/period_endNone2026-12-31
/operating_model/outputs/FY2026:base/values/adj_ebitdaNone8900.0
/operating_model/outputs/FY2026:base/values/capexNone13900.0
/operating_model/outputs/FY2026:base/values/cash_after_claimsNone-14103.127428079999
/operating_model/outputs/FY2026:base/values/cfoNone6497.0
/operating_model/outputs/FY2026:base/values/common_dividendsNone289.12742807999996
/operating_model/outputs/FY2026:base/values/debt_principalNone4243.0
/operating_model/outputs/FY2026:base/values/fcfNone-7403.0
/operating_model/outputs/FY2026:base/values/operating_incomeNone7774.0
/operating_model/outputs/FY2026:base/values/preferred_redemptionNone1743.0
/operating_model/outputs/FY2026:base/values/revenueNone19108.455
/operating_model/outputs/FY2026:base/values/subsidiary_distributionsNone425.0
/operating_model/outputs/FY2026:downside/caseNonedownside
/operating_model/outputs/FY2026:downside/frequencyNoneyear
/operating_model/outputs/FY2026:downside/metrics/adj_ebitdaNonedownside_fy2026_adj_ebitda
/operating_model/outputs/FY2026:downside/metrics/capexNonedownside_fy2026_capex
/operating_model/outputs/FY2026:downside/metrics/cash_after_claimsNonedownside_fy2026_cash_after_claims
/operating_model/outputs/FY2026:downside/metrics/cfoNonedownside_fy2026_cfo
/operating_model/outputs/FY2026:downside/metrics/common_dividendsNonedownside_fy2026_common_dividends
/operating_model/outputs/FY2026:downside/metrics/debt_principalNonedownside_fy2026_debt_principal
/operating_model/outputs/FY2026:downside/metrics/fcfNonedownside_fy2026_fcf
/operating_model/outputs/FY2026:downside/metrics/operating_incomeNonedownside_fy2026_operating_income
/operating_model/outputs/FY2026:downside/metrics/preferred_redemptionNonedownside_fy2026_preferred_redemption
/operating_model/outputs/FY2026:downside/metrics/revenueNonedownside_fy2026_revenue
/operating_model/outputs/FY2026:downside/metrics/subsidiary_distributionsNonedownside_fy2026_subsidiary_distributions
/operating_model/outputs/FY2026:downside/periodNoneFY2026
/operating_model/outputs/FY2026:downside/period_endNone2026-12-31
/operating_model/outputs/FY2026:downside/values/adj_ebitdaNone8099.141749999999
/operating_model/outputs/FY2026:downside/values/capexNone15100.0
/operating_model/outputs/FY2026:downside/values/cash_after_claimsNone-16353.98567808
/operating_model/outputs/FY2026:downside/values/cfoNone5446.141749999999
/operating_model/outputs/FY2026:downside/values/common_dividendsNone289.12742807999996
/operating_model/outputs/FY2026:downside/values/debt_principalNone4243.0
/operating_model/outputs/FY2026:downside/values/fcfNone-9653.858250000001
/operating_model/outputs/FY2026:downside/values/operating_incomeNone6973.141749999999
/operating_model/outputs/FY2026:downside/values/preferred_redemptionNone1743.0
/operating_model/outputs/FY2026:downside/values/revenueNone18241.382250000002
/operating_model/outputs/FY2026:downside/values/subsidiary_distributionsNone425.0
/operating_model/outputs/FY2026:upside/caseNoneupside
/operating_model/outputs/FY2026:upside/frequencyNoneyear
/operating_model/outputs/FY2026:upside/metrics/adj_ebitdaNoneupside_fy2026_adj_ebitda
/operating_model/outputs/FY2026:upside/metrics/capexNoneupside_fy2026_capex
/operating_model/outputs/FY2026:upside/metrics/cash_after_claimsNoneupside_fy2026_cash_after_claims
/operating_model/outputs/FY2026:upside/metrics/cfoNoneupside_fy2026_cfo
/operating_model/outputs/FY2026:upside/metrics/common_dividendsNoneupside_fy2026_common_dividends
/operating_model/outputs/FY2026:upside/metrics/debt_principalNoneupside_fy2026_debt_principal
/operating_model/outputs/FY2026:upside/metrics/fcfNoneupside_fy2026_fcf
/operating_model/outputs/FY2026:upside/metrics/operating_incomeNoneupside_fy2026_operating_income
/operating_model/outputs/FY2026:upside/metrics/preferred_redemptionNoneupside_fy2026_preferred_redemption
/operating_model/outputs/FY2026:upside/metrics/revenueNoneupside_fy2026_revenue
/operating_model/outputs/FY2026:upside/metrics/subsidiary_distributionsNoneupside_fy2026_subsidiary_distributions
/operating_model/outputs/FY2026:upside/periodNoneFY2026
/operating_model/outputs/FY2026:upside/period_endNone2026-12-31
/operating_model/outputs/FY2026:upside/values/adj_ebitdaNone9446.1422
/operating_model/outputs/FY2026:upside/values/capexNone13800.0
/operating_model/outputs/FY2026:upside/values/cash_after_claimsNone-13356.98522808
/operating_model/outputs/FY2026:upside/values/cfoNone7143.1422
/operating_model/outputs/FY2026:upside/values/common_dividendsNone289.12742807999996
/operating_model/outputs/FY2026:upside/values/debt_principalNone4243.0
/operating_model/outputs/FY2026:upside/values/fcfNone-6656.8578
/operating_model/outputs/FY2026:upside/values/operating_incomeNone8320.1422
/operating_model/outputs/FY2026:upside/values/preferred_redemptionNone1743.0
/operating_model/outputs/FY2026:upside/values/revenueNone19704.8841
/operating_model/outputs/FY2026:upside/values/subsidiary_distributionsNone425.0
/operating_model/outputs/FY2027:base/caseNonebase
/operating_model/outputs/FY2027:base/frequencyNoneyear
/operating_model/outputs/FY2027:base/metrics/adj_ebitdaNonebase_fy2027_adj_ebitda
/operating_model/outputs/FY2027:base/metrics/capexNonebase_fy2027_capex
/operating_model/outputs/FY2027:base/metrics/cash_after_claimsNonebase_fy2027_cash_after_claims
/operating_model/outputs/FY2027:base/metrics/cfoNonebase_fy2027_cfo
/operating_model/outputs/FY2027:base/metrics/common_dividendsNonebase_fy2027_common_dividends
/operating_model/outputs/FY2027:base/metrics/debt_principalNonebase_fy2027_debt_principal
/operating_model/outputs/FY2027:base/metrics/fcfNonebase_fy2027_fcf
/operating_model/outputs/FY2027:base/metrics/operating_incomeNonebase_fy2027_operating_income
/operating_model/outputs/FY2027:base/metrics/preferred_redemptionNonebase_fy2027_preferred_redemption
/operating_model/outputs/FY2027:base/metrics/revenueNonebase_fy2027_revenue
/operating_model/outputs/FY2027:base/metrics/subsidiary_distributionsNonebase_fy2027_subsidiary_distributions
/operating_model/outputs/FY2027:base/periodNoneFY2027
/operating_model/outputs/FY2027:base/period_endNone2027-12-31
/operating_model/outputs/FY2027:base/values/adj_ebitdaNone6886.768750000001
/operating_model/outputs/FY2027:base/values/capexNone11900.0
/operating_model/outputs/FY2027:base/values/cash_after_claimsNone-9524.92610616
/operating_model/outputs/FY2027:base/values/cfoNone3826.768750000001
/operating_model/outputs/FY2027:base/values/common_dividendsNone401.69485616
/operating_model/outputs/FY2027:base/values/debt_principalNone600.0
/operating_model/outputs/FY2027:base/values/fcfNone-8073.231249999999
/operating_model/outputs/FY2027:base/values/operating_incomeNone5398.768750000001
/operating_model/outputs/FY2027:base/values/preferred_redemptionNone0.0
/operating_model/outputs/FY2027:base/values/revenueNone16968.393750000003
/operating_model/outputs/FY2027:base/values/subsidiary_distributionsNone450.0
/operating_model/outputs/FY2027:downside/caseNonedownside
/operating_model/outputs/FY2027:downside/frequencyNoneyear
/operating_model/outputs/FY2027:downside/metrics/adj_ebitdaNonedownside_fy2027_adj_ebitda
/operating_model/outputs/FY2027:downside/metrics/capexNonedownside_fy2027_capex
/operating_model/outputs/FY2027:downside/metrics/cash_after_claimsNonedownside_fy2027_cash_after_claims
/operating_model/outputs/FY2027:downside/metrics/cfoNonedownside_fy2027_cfo
/operating_model/outputs/FY2027:downside/metrics/common_dividendsNonedownside_fy2027_common_dividends
/operating_model/outputs/FY2027:downside/metrics/debt_principalNonedownside_fy2027_debt_principal
/operating_model/outputs/FY2027:downside/metrics/fcfNonedownside_fy2027_fcf
/operating_model/outputs/FY2027:downside/metrics/operating_incomeNonedownside_fy2027_operating_income
/operating_model/outputs/FY2027:downside/metrics/preferred_redemptionNonedownside_fy2027_preferred_redemption
/operating_model/outputs/FY2027:downside/metrics/revenueNonedownside_fy2027_revenue
/operating_model/outputs/FY2027:downside/metrics/subsidiary_distributionsNonedownside_fy2027_subsidiary_distributions
/operating_model/outputs/FY2027:downside/periodNoneFY2027
/operating_model/outputs/FY2027:downside/period_endNone2027-12-31
/operating_model/outputs/FY2027:downside/values/adj_ebitdaNone3513.9274999999993
/operating_model/outputs/FY2027:downside/values/capexNone14600.0
/operating_model/outputs/FY2027:downside/values/cash_after_claimsNone-16417.767356160002
/operating_model/outputs/FY2027:downside/values/cfoNone-366.0725000000009
/operating_model/outputs/FY2027:downside/values/common_dividendsNone401.69485616
/operating_model/outputs/FY2027:downside/values/debt_principalNone600.0
/operating_model/outputs/FY2027:downside/values/fcfNone-14966.0725
/operating_model/outputs/FY2027:downside/values/operating_incomeNone2025.9274999999993
/operating_model/outputs/FY2027:downside/values/preferred_redemptionNone0.0
/operating_model/outputs/FY2027:downside/values/revenueNone13137.39
/operating_model/outputs/FY2027:downside/values/subsidiary_distributionsNone450.0
/operating_model/outputs/FY2027:upside/caseNoneupside
/operating_model/outputs/FY2027:upside/frequencyNoneyear
/operating_model/outputs/FY2027:upside/metrics/adj_ebitdaNoneupside_fy2027_adj_ebitda
/operating_model/outputs/FY2027:upside/metrics/capexNoneupside_fy2027_capex
/operating_model/outputs/FY2027:upside/metrics/cash_after_claimsNoneupside_fy2027_cash_after_claims
/operating_model/outputs/FY2027:upside/metrics/cfoNoneupside_fy2027_cfo
/operating_model/outputs/FY2027:upside/metrics/common_dividendsNoneupside_fy2027_common_dividends
/operating_model/outputs/FY2027:upside/metrics/debt_principalNoneupside_fy2027_debt_principal
/operating_model/outputs/FY2027:upside/metrics/fcfNoneupside_fy2027_fcf
/operating_model/outputs/FY2027:upside/metrics/operating_incomeNoneupside_fy2027_operating_income
/operating_model/outputs/FY2027:upside/metrics/preferred_redemptionNoneupside_fy2027_preferred_redemption
/operating_model/outputs/FY2027:upside/metrics/revenueNoneupside_fy2027_revenue
/operating_model/outputs/FY2027:upside/metrics/subsidiary_distributionsNoneupside_fy2027_subsidiary_distributions
/operating_model/outputs/FY2027:upside/periodNoneFY2027
/operating_model/outputs/FY2027:upside/period_endNone2027-12-31
/operating_model/outputs/FY2027:upside/values/adj_ebitdaNone11114.639374999999
/operating_model/outputs/FY2027:upside/values/capexNone11100.0
/operating_model/outputs/FY2027:upside/values/cash_after_claimsNone-4347.0554811599995
/operating_model/outputs/FY2027:upside/values/cfoNone8204.639374999999
/operating_model/outputs/FY2027:upside/values/common_dividendsNone401.69485616
/operating_model/outputs/FY2027:upside/values/debt_principalNone600.0
/operating_model/outputs/FY2027:upside/values/fcfNone-2895.360625
/operating_model/outputs/FY2027:upside/values/operating_incomeNone9626.639374999999
/operating_model/outputs/FY2027:upside/values/preferred_redemptionNone0.0
/operating_model/outputs/FY2027:upside/values/revenueNone21727.794374999998
/operating_model/outputs/FY2027:upside/values/subsidiary_distributionsNone450.0
/operating_model/reviewed_atNone2026-09-19
/operating_model/schema_versionNoneoperating_model.v1
/operating_model/titleNoneLNG commissioning fees, commercial conversion and project funding
/research/change_noteNoneCompleted LNG fee-mix and project-funding model, including distinct exported/sold volume, capitalized interest and capital-holder claims.
/research/checkpoints/0/date_statusNoneestimated
/research/checkpoints/0/eventNoneCommercial conversion
/research/checkpoints/0/timingNoneQ4 2026 and mid-2027 company targets
/research/checkpoints/0/watchNoneTrack Plaquemines COD and the actual fee mix, not only cargo counts.
/research/checkpoints/1/date_statusNoneestimated
/research/checkpoints/1/eventNoneCP2 and construction funding
/research/checkpoints/1/timingNoneEach quarterly filing; first LNG target H2 2027
/research/checkpoints/1/watchNoneCompare cash construction, capitalized interest, draws and restricted reserves.
/research/checkpoints/2/date_statusNoneestimated
/research/checkpoints/2/eventNoneCapital and litigation
/research/checkpoints/2/timingNoneSeptember 2027 revolver maturity; May 2027 damages hearing
/research/checkpoints/2/watchNoneReview any draw/repayment plan and actual legal outcomes before updating the cash stress.
/research/countercaseNoneExceptional commissioning spreads can fade as commercial SPAs start. More LNG production may then generate less fee profit per unit while CP2 and expansions continue consuming cash. Project cash restrictions and preferred/minority distributions separate consolidated results from public-common access to cash.
/research/economicsNoneH1 revenue was $9.177B, consolidated adjusted EBITDA $3.863B and CFO $2.835B, versus $6.900B cash capex. Consolidated net income of $2.042B differs from $1.835B attributable to common holders. H1 distributions included $135M VGLNG Series A dividends and $75M other NCI cash; $1.743B separately redeemed CP Funding preferred units. Debt principal was $42.386B at June, unrestricted cash $3.120B and restricted cash $1.470B. Annual adjusted EBITDA guidance rose to $8.7B-$9.1B, including NCI, on 500-518 exported cargos. The disclosed $5.05/MMBtu fee for contracted 2026 cargos differs from assumed $12.50-$13.50 on unsold cargos and from total LNG selling price. A $1 fee change on unsold cargos moves annual EBITDA $180M-$210M. Q2 exported volume of 478.3 TBtu also differs from 466.4 TBtu sold. Plaquemines Phase 1 COD targets Q4 2026, Phase 2 mid-2027, and CP2 first LNG H2 2027. September $3B revolving capacity matures in one year; it is not cash received. September China Gas 0.5MTPA starts in 2030 and contributes nothing to this horizon.
/research/limitations/0NoneGuidance is consolidated adjusted EBITDA, including non-controlling interests, not free cash or common earnings. The 2026 calibrated residual combines operating costs and other contribution; it is not a disclosed segment margin.
/research/limitations/1NoneOne TBtu equals one million MMBtu. A $1/MMBtu fee therefore produces $1M per TBtu sold. Cargo count, cargo size and recognized sales timing remain separate. Exported cargos are not identical to sales recognized.
/research/limitations/2NoneThe $5.05/MMBtu contracted 2026 fee is not a disclosed perpetual post-COD SPA fee. FY2027 SPA, commissioning and merchant fees are explicit desk assumptions. Feed-gas recovery is modeled as a neutral pass-through, not LNG profit.
/research/limitations/3NonePlaquemines Phase 1 targets Q4 2026 COD and Phase 2 mid-2027; CP2 first LNG targets H2 2027. Timing, output, sales mix and construction spend can move together. Expansion volumes targeting 2028/2029 and China Gas deliveries starting 2030 are outside this horizon.
/research/limitations/4NoneCash PP&E includes capitalized interest and deposits. Forecast expensed cash interest excludes interest capitalized in capex; the model does not subtract the same construction interest twice.
/research/limitations/5NoneForecast cash after claims is before new borrowing, debt issuance fees, acquisitions and changes in restricted reserves. No complete debt/covenant or distributable-parent-cash waterfall is supplied; project restrictions can trap cash.
/research/limitations/6NoneThe September $3B revolver is a commitment maturing September 1, 2027, not $3B cash already received. No assumed draw is added to CFO or unrestricted cash, and its repayment would need a separate financing schedule if drawn.
/research/limitations/7NoneLegal damages remain unresolved. The downside includes an editable $500M cash stress in Q4 2027, not a probability-weighted loss estimate, accounting reserve or worst-case cap; other cases omit incremental stress rather than imply no liability. No EPS or valuation forecast.
/research/questionNoneHow much LNG fee contribution survives the transition to commercial contracts and the next construction cycle?
/research/reviewed_atNone2026-09-19
/research/risks/0NoneMerchant LNG fees and sales-recognition timing can change quickly.
/research/risks/1NoneConstruction, testing, remediation and COD dates affect volume and fee mix.
/research/risks/2NoneProject debt, short-dated revolving capacity and covenants can restrict distributions.
/research/risks/3NoneCapitalized interest is a real cash cost even when absent from current interest expense.
/research/risks/4NoneBP damages hearing is scheduled for May 2027; its $3.7B to potentially over $6B claim is unresolved, not a modeled liability estimate. Other customer disputes also remain.
/research/risks/5NoneStorms, plant outages, shipping and regulatory approvals affect delivery.
/research/risks/6NonePreferred and NCI claims plus both common share classes must be included before common economics are inferred.
/research/titleNoneFrom commissioning cargo margins to financed commercial operations
/sources/0/retrievedNone2026-09-19
/sources/0/titleNoneAugust 11 filing, project cash flow, ownership and legal disclosures
/sources/0/urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000062/vg-20260630.htm
/sources/1/retrievedNone2026-09-19
/sources/1/titleNoneQ2 results and updated 2026 LNG/EBITDA guidance
/sources/1/urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000063/vgincq22026earningsrelease.htm
/sources/2/retrievedNone2026-09-19
/sources/2/titleNoneSeptember 2 $3B revolving commitment and maturity
/sources/2/urlNonehttps://www.sec.gov/Archives/edgar/data/2007855/000200785526000066/vg-20260902.htm
/sources/3/retrievedNone2026-09-19
/sources/3/titleNoneSeptember 14 China Gas contract starts in 2030
/sources/3/urlNonehttps://investors.ventureglobal.com/news/news-details/2026/Venture-Global-and-China-Gas-Announce-New-Long-Term-LNG-Agreement/default.aspx
/thesis/scenario_rangesNoneExplicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.
/thesis/viewLarge consolidated EBITDA can coexist with a substantial funding requirement. The key test is fee economics as Plaquemines reaches commercial operation and CP2 ramps, measured after construction, debt service and subsidiary claims rather than against cargo growth alone.
/thesis/what_changes_itReliable commissioning, lower construction cash needs and durable post-COD margins would strengthen the case. Delays, adverse merchant fees, funding restrictions or legal cash outcomes could outweigh shipment growth.