v3.26.1
Non-Controlling Interests
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Non-Controlling Interests Non-Controlling Interests
VGLNG Series A Preferred Shares

The VGLNG Series A Preferred shares accumulate dividends at an annual rate of 9.000%, or $90.00 a year per preferred share, and are payable semiannually if declared by the VGLNG board of directors. The following table summarizes accumulated but undeclared dividends on the VGLNG Series A Preferred Shares:

Three months ended
June 30,
20262025
Beginning balance as of April 1$1 $1 
Dividends accumulated67 67 
Ending balance as of June 30$68 $68 
Six months ended
June 30,
20262025
Beginning balance as of January 1$68 $68 
Dividends accumulated135 135 
Dividends declared and paid(135)(135)
Ending balance as of June 30$68 $68 

Calcasieu Holdings

In August 2019, Calcasieu Pass Holdings, LLC ("Calcasieu Holdings"), a controlled indirect subsidiary of the Company, issued 4 million convertible preferred units (the "CP Holdings Convertible Preferred Units"), which represent third-party ownership in the net assets of Calcasieu Holdings.

Upon COD of the Calcasieu Project in April 2025, the CP Holdings Convertible Preferred Units converted into Class B common units of Calcasieu Holdings. This conversion was equal to approximately 23% of the total outstanding common units of Calcasieu Holdings, reducing the Company's common equity interest in the Calcasieu Project to approximately 77%.

Prior to COD, the CP Holdings Convertible Preferred Units paid a cumulative quarterly distribution recognized as net income attributable to non-controlling interests. Subsequent to COD, the Class B common units of Calcasieu Holdings are adjusted by the amount of earnings or other comprehensive income attributable to the Class B common unit ownership.
The following table summarizes the changes in the third-party ownership in the net assets of Calcasieu Holdings:

Three months ended
June 30,
20262025
Beginning balance as of April 1$586 $575 
Net income (loss) attributable to non-controlling interests(2)1 
Other comprehensive loss— (1)
Distributions(41)(3)
Ending balance as of June 30$543 $572 
Six months ended
June 30,
20262025
Beginning balance as of January 1$593 $575 
Net income attributable to non-controlling interests
25 16 
Other comprehensive loss— (1)
Distributions
(75)(18)
Ending balance as of June 30$543 $572