0001140361-21-016441 | 10-Q | XBRL Viewer

Commitments and contingencies

3 Months Ended

Mar. 31, 2021

Commitments and contingencies [Abstract]

17.

Commitments and contingencies

The Company may be subject to certain legal proceedings, claims and disputes that arise in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the Company's financial position, results of operations or cash flows.

Revenue from contracts with customers (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue from contracts with customers [Abstract]
Receivables, revenue from contracts with customers	$ 95,753		$ 76,431
Current expected credit losses	203		98
Contract with Customer, Asset and Liability [Abstract]
Contract assets, net - current	5,268		3,673
Contract assets, net - non-current	30,685		23,972
Total contract assets, net	35,953		27,645
Contract liabilities	10,704		8,399
Revenue recognized in the year from [Abstract]
Amounts included in contract liabilities at the beginning of the year	942		6,542
Contract assets net of current expected credit losses	484		372
Unbilled receivables net of current expected credit losses	6,729
Unbilled receivables included in other current assets	356
Unbilled receivables included in other non-current asset	6,373
Disaggregation of Revenue [Abstract]
Operating revenue	91,196	$ 63,502
Other revenues	54,488	11,028
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	10,478,395
Capitalized Contract Cost [Abstract]
Capitalized contract costs	11,434		11,276
Other current assets	604		588
Other noncurrent assets	10,830		$ 10,688
Development Services [Member]
Disaggregation of Revenue [Abstract]
Other revenues	54,071	10,071
Development Services [Member] \| Natural Gas Used In Commissioning [Member]
Disaggregation of Revenue [Abstract]
Other revenues	45,618
Lease and Other Revenue [Member]
Disaggregation of Revenue [Abstract]
Other revenues	417	$ 957
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 278,546
Remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 504,522
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 504,708
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 499,842
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 494,081
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 8,196,696
Remaining performance obligation, expected timing of satisfaction, period	1 year

Share-based compensation (Tables)

3 Months Ended

Mar. 31, 2021

Share-based compensation [Abstract]

RSU Activity

The following table summarizes the RSU activity for the three months ended March 31, 2021:

	Restricted Share Units			Weighted-average grant date fair value per share
Non-vested RSUs as of December 31, 2020		1,538,060		$	13.49
Granted		-			-
Vested		(665,781	)		13.54
Forfeited		(3,017	)		13.51
Non-vested RSUs as of March 31, 2021		869,262		$	13.45

Share-based Compensation Expense

The following table summarizes the share-based compensation expense for the Company’s RSUs recorded for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021		2020
Operations and maintenance	$	222	$	237
Selling, general and administrative		1,548		2,271
Total share-based compensation expense	$	1,770	$	2,508

PSU Activity

Performance Share Units (“PSUs”)

During the first quarter of 2020 and 2021, the Company granted PSUs to certain employees and non-employees that contain a performance condition. Vesting will be determined based on achievement of a performance metric for the year subsequent to the grant, and the number of shares that will vest can range from zero to a multiple of units granted. For the three months ended March 31, 2021, the Company determined that it was not probable that the performance condition required for any of the PSUs to vest would be achieved, and as such, no compensation expense has been recognized in the condensed consolidated statements of operations and comprehensive loss

PSUs Granted	Units Granted	Range of Vesting	Unrecognized Compensation Cost⁽¹⁾		Weighted Average Remaining Vesting Period
Q1 2020	1,109,777	0 to 2,219,554	$	30,864	0.75 years
Q1 2021	400,507	0 to 801,014	$	32,577	1.75 years

(1) Unrecognized compensation cost is based upon the maximum amount of shares that could vest

Debt

3 Months Ended

Mar. 31, 2021

Debt [Abstract]

Debt

15.

Debt

As of March 31, 2021 and December 31, 2020, debt consisted of the following:

	March 31, 2021		December 31, 2020
Senior Secured Notes, due September 15, 2025	$	1,239,799	$	1,239,561
Total debt	$	1,239,799	$	1,239,561

2025 Notes

On September 2, 2020, the Company issued $1,000,000 of 6.75% senior secured notes in a private offering pursuant to Rule 144A under the Securities Act (the “2025 Notes”). Interest is payable semi-annually in arrears on March 15 and September 15 of each year, commencing on March 15, 2021; no principal payments are due until maturity on September 15, 2025. The Company may redeem the 2025 Notes, in whole or in part, at any time prior to maturity, subject to certain make-whole premiums.

The 2025 Notes are guaranteed, jointly and severally, by certain of the Company’s subsidiaries, in addition to other collateral. The 2025 Notes may limit the Company’s ability to incur additional indebtedness or issue certain preferred shares, make certain payments, and sell or transfer certain assets subject to certain financial covenants and qualifications. The 2025 Notes also provide for customary events of default and prepayment provisions.

The Company used a portion of the net cash proceeds received from the 2025 Notes to repay in full the outstanding principal and interest under the Credit Agreement (as defined below), including related costs and expenses. The Company also used the remaining net proceeds, together with cash on hand, to redeem in full the outstanding Senior Secured Bonds and Senior Unsecured Bonds (as defined below), including related premiums, costs and expenses, terminating the Senior Secured Bonds and Senior Unsecured Bonds. The Company completed the redemption of the Senior Secured Bonds and Senior Unsecured Bonds on September 21, 2020.

In connection with the issuance of the 2025 Notes, the Company incurred $17,937 in origination, structuring and other fees. Issuance costs of $13,909 were deferred as a reduction of the principal balance of the 2025 Notes on the condensed consolidated balance sheets; unamortized deferred financing costs related to lenders in the Credit Agreement that participated in the 2025 Notes were $6,501 and such unamortized costs were also included as a reduction of the principal balance of the 2025 Notes and will be amortized over the remaining term of the 2025 Notes. As a portion of the repayment of the Credit Agreement was a modification, in the third quarter of 2020, the Company recorded $4,028 of third-party fees in Selling, general and administrative in the condensed consolidated statements of operations and comprehensive loss.

On December 17, 2020, the Company issued $250,000 of additional notes on the same terms as the 2025 Notes in a private offering pursuant to Rule 144A under the Securities Act (subsequent to this issuance, these additional notes are included in the definition of 2025 Notes herein). Proceeds received included a premium of $13,125, which was offset by additional financing costs incurred of $4,436. As of March 31, 2021, total remaining unamortized deferred financing costs for all outstanding debt were $10,201.

The Credit Agreement

On January 10, 2020, the Company entered into a credit agreement to borrow $800,000 in term loans (the “Credit Agreement”). The Credit Agreement was set to mature in January 2023 with the full principal balance due upon maturity. Interest was payable quarterly and was based on a LIBOR rate divided by one minus the applicable reserve requirement, subject to a floor of 1.50%, plus a margin of 6.25%. The interest rate margin was to increase each year of the term by 1.50%. A portion of the proceeds received were utilized to extinguish the Term Loan Facility (defined below), including outstanding principal of $495,000.

In connection with obtaining the Credit Agreement and the extinguishment of the Term Loan Facility, the Company incurred $37,051 in origination, structuring and other fees which were recognized as a reduction of the principal balance of the Credit Agreement on the condensed consolidated balance sheets.

On September 2, 2020, the Company repaid the full amount outstanding using proceeds from the 2025 Notes. Certain lenders in the Credit Agreement participated in the issuance of 2025 Notes, and a portion of the repayment of the Credit Agreement was treated as a debt modification. For the portion of the Credit Agreement that was considered extinguished, $16,310 of unamortized deferred debt issuance costs was recognized as a loss on extinguishment of debt in the condensed consolidated statements of operations and comprehensive loss. The remaining unamortized deferred debt issuance costs of $6,501 will be amortized over the remaining term of the 2025 Notes.

Term Loan Facility

On August 16, 2018, the Company entered into a credit agreement with a syndicate of two lenders to borrow up to an aggregate principal amount of $240,000, and proceeds received from this credit agreement were utilized to repay prior debt facilities. On December 31, 2018, the Company amended this credit agreement to increase the available borrowing principal amount to $500,000 (as amended, the “Term Loan Facility”), and as of December 31, 2018, the Company had an outstanding principal balance of $280,000 under the Term Loan Facility. On March 21, 2019, the Company drew an additional $220,000, bringing the Company’s total outstanding borrowings to $500,000 under the Term Loan Facility.

All borrowings under the Term Loan Facility bore interest at a rate selected by the Company of either (i) LIBOR divided by one minus the applicable reserve requirement plus a spread of 4% or (ii) subject to a floor of 1%, a Base Rate equal to the higher of (a) the Prime Rate, (b) the Federal Funds Rate plus 1/2 of 1%% or (c) the 1-month LIBOR rate plus 1.00% plus a spread of 3.0%. The Term Loan Facility was repayable in quarterly installments of $1,250 with a balloon payment due at maturity.

The Term Loan Facility had a maturity date of December 31, 2019 with an option to extend the maturity date for two additional six-month periods. Upon the exercise of each extension option, the Company would pay a fee equal to 1.0% of the outstanding principal balance at the time of the exercise and the spread on LIBOR and Base Rate would increase by 0.5%. On December 30, 2019, the Company entered into an amendment with the lenders to extend the maturity to January 21, 2020; no fees were due to lenders from the execution of this amendment. On January 15, 2020, the Company repaid the full amount outstanding including fees due to the lenders using proceeds from the Credit Agreement to extinguish the Term Loan Facility. In conjunction with the extinguishment of the Term Loan Facility, the Company recognized a loss on extinguishment of debt of $9,557 in the condensed consolidated statements of operations and comprehensive loss.

South Power Bonds

On September 2, 2019, NFE South Power Holdings Limited (“South Power”), a consolidated subsidiary of the Company, entered into a facility for the issuance of secured and unsecured bonds (the “Senior Secured Bonds” and “Senior Unsecured Bonds”, respectively) and subsequently issued $73,317 and $43,683 in Senior Secured Bonds and Senior Unsecured Bonds, respectively. The Senior Secured Bonds were secured by the dual-fired combined heat and power facility in Clarendon, Jamaica (the “CHP Plant”) and related receivables and assets, and the proceeds were used to fund the completion of the CHP Plant and to reimburse shareholder advances. Upon completion of construction of the CHP Plant in the fourth quarter of 2019, South Power issued an additional $63,000 in Senior Secured Bonds. The Company received $10,856 of the proceeds in 2019 and received the remaining proceeds of $52,144 in January 2020.

The Senior Secured Bonds bore interest at an annual fixed rate of 8.25% and matured 15 years from the closing date of each issuance. No principal payments were due for the first seven years. After seven years, quarterly principal payments were due, with a 50% balloon payment due upon maturity. Interest payments on outstanding principal balances were due quarterly.

The Senior Unsecured Bonds bore interest at an annual fixed rate of 11.00% and matured in September 2036. No principal payments were due for the first nine years. Beginning in 2028, principal payments were due quarterly on an escalating schedule. Interest payments on outstanding principal balances were due quarterly.

The Company paid approximately $3,892 of fees in connection with the issuance of Senior Secured Bonds and Senior Unsecured Bonds. These fees were capitalized on a pro-rata basis as a reduction of the Senior Secured Bonds and Senior Unsecured Bonds on the condensed consolidated balance sheets. On September 21, 2020, the Company repaid the full amount outstanding including fees dues to the lenders using proceeds from the 2025 Notes and cash on hand. In conjunction with the repayment of the Senior Secured Bonds and Senior Unsecured Bonds in the third quarter of 2020, the Company recognized a loss on extinguishment of debt of $7,195, including the write-off of $3,594 of unamortized deferred financing costs and prepayment premium paid to bondholders of $3,601.

Interest Expense

Interest and related amortization of debt issuance costs recognized during major development and construction projects are capitalized and included in the cost of the project. Interest expense, net of amounts capitalized, recognized for the three months ended March 31, 2021 and 2020 consisted of the following:

	Three Months Ended March 31,
	2021		2020
Interest per contractual rates	$	20,834	$	18,874
Amortization of debt issuance costs		487		4,622
Total interest costs		21,321		23,496
Capitalized interest		2,641		9,606
Total interest expense	$	18,680	$	13,890

Restricted cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Restricted cash [Abstract]
Collateral for performance under customer agreements	$ 15,000	$ 15,000
Collateral for LNG purchases	2,916	11,664
Collateral for letters of credit and performance bonds	906	900
Other restricted cash	250	250
Total restricted cash	19,072	27,814
Current restricted cash	4,072	12,814
Non-current restricted cash	$ 15,000	$ 15,000

Property, plant and equipment, net (Tables)

3 Months Ended

Mar. 31, 2021

Property, plant and equipment, net [Abstract]

Property, Plant and Equipment, Net

As of March 31, 2021 and December 31, 2020, the Company’s property, plant and equipment, net consisted of the following:

	March 31, 2021			December 31, 2020
Terminal and power plant equipment	$	189,197		$	188,855
CHP facilities		119,723			119,723
Gas terminals		120,810			120,810
ISO containers and other equipment		102,010			100,137
LNG liquefaction facilities		63,213			63,213
Gas pipelines		58,974			58,974
Land		16,582			16,246
Leasehold improvements		8,723			8,723
Accumulated depreciation		(72,229	)		(62,475	)
Total property, plant and equipment, net	$	607,003		$	614,206

Property, plant and equipment, net

3 Months Ended

Mar. 31, 2021

Property, plant and equipment, net [Abstract]

Property, plant and equipment, net

11.

Property, plant and equipment, net

As of March 31, 2021 and December 31, 2020, the Company’s property, plant and equipment, net consisted of the following:

	March 31, 2021			December 31, 2020
Terminal and power plant equipment	$	189,197		$	188,855
CHP facilities		119,723			119,723
Gas terminals		120,810			120,810
ISO containers and other equipment		102,010			100,137
LNG liquefaction facilities		63,213			63,213
Gas pipelines		58,974			58,974
Land		16,582			16,246
Leasehold improvements		8,723			8,723
Accumulated depreciation		(72,229	)		(62,475	)
Total property, plant and equipment, net	$	607,003		$	614,206

Depreciation for the three months ended March 31, 2021 and 2020 totaled $9,842 and $5,211, respectively, of which $270 and $227, respectively, is included within Cost of sales in the condensed consolidated statements of operations and comprehensive loss.

Prepaid expenses and other current assets (Tables)

3 Months Ended

Mar. 31, 2021

Prepaid expenses and other current assets [Abstract]

Prepaid Expenses and Other Current Assets, Net

As of March 31, 2021 and December 31, 2020, prepaid expenses and other current assets consisted of the following:

	March 31, 2021		December 31, 2020
Prepaid LNG	$	20,605	$	11,987
Prepaid expenses		6,806		4,941
Due from affiliates (Note 20)		1,912		1,881
Other current assets		30,922		29,461
Total prepaid expenses and other current assets, net	$	60,245	$	48,270

Inventory

3 Months Ended

Mar. 31, 2021

Inventory [Abstract]

Inventory

As of March 31, 2021 and December 31, 2020, inventory consisted of the following:

	March 31, 2021		December 31, 2020
LNG and natural gas inventory	$	18,213	$	13,986
Automotive diesel oil inventory		4,463		3,986
Bunker fuel, materials, supplies and other		5,355		4,888
Total inventory	$	28,031	$	22,860

Inventory is adjusted to the lower of cost or net realizable value each quarter. Changes in the value of inventory are recorded within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. No adjustments were recorded during the three months ended March 31, 2021 and 2020.

Debt, South Power Bonds (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		12 Months Ended
Debt, South Power Bonds (Details) - USD ($) $ in Thousands	Sep. 21, 2020	Jan. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019	Sep. 02, 2019
Senior Secured and Unsecured Bonds [Abstract]
Loss on extinguishment of debt			$ 0	$ (9,557)
Senior Secured Bonds [Member] \| South Power [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, issued						$ 73,317
Debt instrument, issuable upon completion of certain conditions					$ 63,000
Proceeds from issuance of bonds		$ 52,144			$ 10,856
Fixed interest rate			8.25%
Maturity period			15 years
Non-payment of principal due period			7 years
Frequency of payments			quarterly
Percentage of balloon payment due upon maturity			50.00%
Senior Unsecured Bonds [Member] \| South Power [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, issued						$ 43,683
Fixed interest rate			11.00%
Maturity date			Sep. 30, 2036
Non-payment of principal due period			9 years
Frequency of payments			quarterly
Senior Secured Bonds and Senior Unsecured Bonds [Member] \| South Power [Member]
Senior Secured and Unsecured Bonds [Abstract]
Fees paid			$ 3,892
Loss on extinguishment of debt	$ (7,195)
Unamortized deferred financing costs, write-off	3,594
Prepayment Premium Paid to Bondholders	$ 3,601

Significant accounting policies (Policies)

3 Months Ended

Mar. 31, 2021

Significant accounting policies [Abstract]

Basis of presentation and principles of consolidation

(a)

Basis of presentation and principles of consolidation

The accompanying unaudited interim condensed consolidated financial statements contained herein were prepared in accordance with GAAP and reflect all normal and recurring adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position, results of operations and cash flows of the Company for the interim periods presented. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned consolidated subsidiaries. The ownership interest of other investors in consolidated subsidiaries is recorded as a non-controlling interest. All significant intercompany transactions and balances have been eliminated on consolidation. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the year ended December 31, 2020.

On February 4, 2019, the Company completed an initial public offering (“IPO”) and a series of other transactions, in which the Company issued and sold 20,000,000 Class A shares at an IPO price of $14.00 per share. The Company’s Class A shares began trading on Nasdaq Global Select Market (“Nasdaq”) under the symbol “NFE” on January 31, 2019. Net proceeds from the IPO were $257.0 million, after deducting underwriting discounts and commissions and transaction costs. These proceeds were contributed to New Fortress Intermediate LLC (“NFI”), an entity formed in conjunction with the IPO, in exchange for 20,000,000 limited liability company units in NFI (“NFI LLC Units”). In addition, New Fortress Energy Holdings contributed all of its interests in consolidated subsidiaries that comprised substantially all of its historical operations to NFI in exchange for NFI LLC Units. In connection with the IPO, New Fortress Energy Holdings also received 147,058,824 Class B shares of NFE, which is equal to the number of NFI LLC Units held by New Fortress Energy Holdings immediately following the IPO. New Fortress Energy Holdings retained a significant interest in NFE through its ownership of 147,058,824 Class B shares, representing an 88.0% voting and non-economic interest. New Fortress Energy Holdings also had an 88.0% economic interest in NFI through its ownership of 147,058,824 of NFI LLC Units. New Fortress Energy Holdings is NFE’s predecessor for accounting purposes.

On March 1, 2019, the underwriters of the IPO exercised their option to purchase an additional 837,272 Class A shares at the IPO price of $14.00 per share, less underwriting discounts, which resulted in $11.0 million in additional net proceeds after deducting $0.7 million of underwriting discounts and commissions, such that there were 20,837,272 outstanding Class A shares. In connection with the exercise of the underwriters’ option to purchase an additional 837,272 Class A shares, NFE contributed such additional net proceeds to NFI in exchange for 837,272 NFI LLC Units.

Until the Exchange Transactions (as defined below) were completed, NFE was a holding company whose sole material asset was a controlling equity interest in NFI. As the sole managing member of NFI, NFE operated and controlled all of the business and affairs of NFI, and through NFI and its subsidiaries, conducted the Company’s historical business. The contribution of the assets of New Fortress Energy Holdings and net proceeds from the IPO to NFI was treated as a reorganization of entities under common control (the “Reorganization”). As a result, NFE presented the condensed consolidated balance sheets and statements of operations and comprehensive loss of New Fortress Energy Holdings for all periods prior to the IPO.

On June 3, 2020, the Company entered into a mutual agreement (the “Mutual Agreement”) with the members holding the majority voting interest in New Fortress Energy Holdings (“Exchanging Members”) and NFE Sub LLC, a wholly-owned subsidiary of NFE. Pursuant to the Mutual Agreement, the Exchanging Members agreed to deliver a block redemption notice in accordance with the Amended and Restated Limited Liability Company Agreement of NFI (the “NFI LLCA”) with respect to all of the NFI LLC Units, together with an equal number of Class B shares of NFE, that such Exchanging Members indirectly own as members of New Fortress Energy Holdings. Pursuant to the Mutual Agreement, NFE agreed to exercise the Call Right (as defined in the NFI LLCA), pursuant to which NFE would acquire such NFI LLC Units and such Class B shares in exchange for Class A shares of NFE (the “Exchange Transactions”). The Exchange Transactions were completed on June 10, 2020. In connection with the closing of the Exchange Transactions, NFE issued 144,342,572 Class A shares in exchange for an equal number of NFI LLC Units, together with an equal number of Class B shares of NFE. Following the completion of the Exchange Transactions, NFE owns all of the NFI LLC Units directly or indirectly and no Class B shares remain outstanding.

Prior to the Exchange Transactions, the Company recognized the Exchanging Members’ economic interest in NFI as non-controlling interest in the Company’s condensed consolidated financial statements. Results of operations for the period prior to the date of the Exchange Transactions, June 10, 2020, was attributed to non-controlling interest based on the Exchanging Members’ interest in NFI; subsequent to the Exchange Transactions, results of operations, excluding results attributable to other investors in non-wholly owned subsidiaries, were recognized as net income or loss attributable to stockholders. Amounts that were attributable to these Exchanging Members' prior interest in NFI previously shown as non-controlling interest on the Company’s consolidated balance sheets have been reclassified to Class A shares.

On August 7, 2020, the Company converted New Fortress Energy LLC (“NFE LLC”) from a Delaware limited liability company to a Delaware corporation named New Fortress Energy Inc. (“the Conversion”). Since the IPO, NFE LLC had been a corporation for U.S. federal tax purposes, and converting NFE LLC from a limited liability company to a corporation had no effect on the U.S. federal tax treatment of the Company or its shareholders. Upon the Conversion, each Class A share, representing Class A limited liability company interests of NFE LLC (“Class A shares”), outstanding immediately prior to the Conversion was converted into one issued and outstanding, fully paid and nonassessable share of Class A common stock, $0.01 par value per share, of NFE (“Class A common stock”). Class A shares shown on the Company’s condensed consolidated statements of changes in stockholders’ equity were reclassified to Class A common stock and Additional paid-in capital with no change to total stockholders’ equity. As of March 31, 2021, NFE had 175,320,414 Class A common stock outstanding.

Revenue recognition

(b)

Revenue recognition

The Company’s contracts with customers may contain one or several performance obligations usually consisting of the sale of LNG, natural gas, power and steam, which are outputs from the Company’s natural gas-fueled infrastructure. The transaction price for each of these contracts is structured using similar inputs and factors regardless of the output delivered to the customer. The customers consume the benefit of the natural gas, power and steam when they are delivered by the Company to the customer’s power generation facilities or interconnection facility. Natural gas, power and steam qualify as a series with revenue being recognized over time using an output method, based on the quantity of natural gas, power, or steam that the customer has consumed. LNG is typically delivered in containers transported by truck to customer sites. Revenue from sales of LNG delivered by truck is recognized at the point in time at which physical possession and the risks and rewards of ownership transfer to the customer, either when the containers are shipped or delivered to the customers’ storage facilities, depending on the terms of the contract. Because the nature, timing and uncertainty of revenue and cash flows are substantially the same for LNG, natural gas, power and steam, the Company has presented Operating revenue on an aggregated basis.

The Company has concluded that variable consideration included in its agreements meets the exception for allocating variable consideration. As such, the variable consideration for these contracts is allocated to each distinct unit of LNG, natural gas, power or steam delivered and recognized when that distinct unit is delivered to the customer.

The Company’s contracts with customers to supply natural gas or LNG may contain a lease of equipment. The Company allocates consideration received from customers between lease and non-lease components based on the relative fair value of each component. The fair value of the lease component is estimated based on the estimated standalone selling price of the same or similar equipment leased to the customer. The Company estimates the fair value of the non-lease component by forecasting volumes and pricing of gas to be delivered to the customer over the lease term.

The leases of certain facilities and equipment to customers are accounted for as finance or operating leases. The current and non-current portion of finance leases are recorded within Prepaid expenses and other current assets and Finance leases, net on the condensed consolidated balance sheets, respectively. For finance leases accounted for as sales-type leases, the profit from the sale of equipment is recognized upon lease commencement in Other revenue in the condensed consolidated statements of operations and comprehensive loss. The lease payments for finance leases are segregated into principal and interest components similar to a loan. Interest income is recognized on an effective interest method over the lease term and included in Other revenue in the condensed consolidated statements of operations and comprehensive loss. The principal component of the lease payment is reflected as a reduction to the net investment in the lease. For the Company’s operating leases, the amount allocated to the leasing component is recognized over the lease term as Other revenue in the condensed consolidated statements of operations and comprehensive loss.

In addition to the revenue recognized from the leasing components of agreements with customers, Other revenue includes revenue recognized from the construction, installation and commissioning of equipment, inclusive of natural gas delivered for the commissioning process, to transform customers’ facilities to operate utilizing natural gas or to allow customers to receive power or other outputs from our natural gas-fueled power generation facilities. Revenue from these development services is recognized over time as the Company transfers control of the asset to the customer or based on the quantity of natural gas consumed as part of commissioning the customer’s facilities until such time that the customer has declared such conversion services have been completed. If the customer is not able to obtain control over the asset under construction until such services are completed, revenue is recognized when the services are completed and the customer has control of the infrastructure. Such agreements may also include a significant financing component, and the Company recognizes revenue for the interest income component over the term of the financing as Other revenue.

The timing of revenue recognition, billings and cash collections results in receivables, contract assets and contract liabilities. Receivables represent unconditional rights to consideration; unbilled amounts typically result from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer. Contract assets are comprised of the transaction price allocated to completed performance obligations that will be billed to customers in subsequent periods. Both unbilled receivables and contract assets are recognized within Prepaid expenses and other current assets, net and Other non-current assets, net on the condensed consolidated balance sheets. Contract liabilities consist of deferred revenue and are recognized within Other current liabilities on the condensed consolidated balance sheets.

Shipping and handling costs are not considered to be separate performance obligations. These costs are recognized in the period in which the costs are incurred and presented within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. All such shipping and handling activities are performed prior to the customer obtaining control of the LNG or natural gas.

The Company collects sales taxes from its customers based on sales of taxable products and remits such collections to the appropriate taxing authority. The Company has elected to present sales tax collections in the condensed consolidated statements of operations and comprehensive loss on a net basis and, accordingly, such taxes are excluded from reported revenues.

The Company elected the practical expedient under which the Company does not adjust consideration for the effects of a significant financing component for those contracts where the Company expects at contract inception that the period between transferring goods to the customer and receiving payment from the customer will be one year or less.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
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+ Details

Significant accounting policies (Details) $ / shares in Units, $ in Millions					3 Months Ended
	Aug. 07, 2020 $ / shares shares	Jun. 10, 2020 shares	Mar. 01, 2019 USD ($) $ / shares shares	Feb. 04, 2019 USD ($) $ / shares shares	Mar. 31, 2021 Obligation $ / shares shares	Dec. 31, 2020 $ / shares shares
Basis of presentation and principles of consolidation [Abstract]
Percentage of voting and non-economic interest				88.00%
Percentage of economic interest in NFI				88.00%
Exchange transactions completion date					Jun. 10, 2020
Number of LLC shares converted to Corporate shares (in shares)	1
Par value per share (in dollars per share) \| $ / shares	$ 0.01
Revenue recognition [Abstract]
Number of performance obligations \| Obligation					1
Class A [Member]
Basis of presentation and principles of consolidation [Abstract]
Shares outstanding (in shares)					175,320,414	174,600,000
Shares issued in exchange of NFI units (in shares)		144,342,572
Par value per share (in dollars per share) \| $ / shares					$ 0.01	$ 0.01
Class A [Member] \| IPO [Member]
Basis of presentation and principles of consolidation [Abstract]
Shares issued in initial public offering (in shares)			837,272	20,000,000
IPO price per share (in dollars per share) \| $ / shares			$ 14.00	$ 14.00
Net proceeds from initial public offering \| $			$ 11.0	$ 257.0
Shares outstanding (in shares)			20,837,272
Underwriting discounts and commissions \| $			$ 0.7
Class B [Member]
Basis of presentation and principles of consolidation [Abstract]
Shares outstanding (in shares)					0
Shares issued in exchange of NFI units (in shares)		144,342,572
Class B [Member] \| IPO [Member]
Basis of presentation and principles of consolidation [Abstract]
Effects of reorganization transactions (in shares)				147,058,824
Shares outstanding (in shares)				147,058,824

Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Lessee

The Company has operating leases primarily for the use of LNG vessels, marine port space, office space, land and equipment under non-cancellable lease agreements. The Company’s leases may include multiple optional renewal periods that are exercisable solely at the Company’s discretion. Renewal periods are included in the lease term when the Company is reasonably certain that the renewal options would be exercised, and the associated lease payments for such periods are reflected in the ROU asset and lease liability.

The Company’s leases include fixed lease payments which may include escalation terms based on a fixed percentage or may vary based on an inflation index or other market adjustments. Escalations based on changes in inflation indices and market adjustments and other lease costs that vary based on the use of the underlying asset are not included as lease payments in the calculation of the lease liability or ROU asset; such payments are included in variable lease cost when the obligation that triggers the variable payment becomes probable. Variable lease cost includes contingent rent payments for office space based on the percentage occupied by the Company in addition to common area charges and other charges that are variable in nature. The Company also has a component of lease payments that are variable related to the LNG vessels, in which the Company may receive credits based on the performance of the LNG vessels during the period.

For the three months ended March 31, 2021 and 2020, the Company’s operating lease cost recorded within the condensed consolidated statements of operations and comprehensive loss were as follows:

	Three Months Ended March 31,
	2021		2020
Fixed lease cost	$	11,745	$	10,267
Variable lease cost		693		639
Short-term lease cost		722		286

Lease cost - Cost of sales	$	11,036	$	9,351
Lease cost - Operations and maintenance		557		388
Lease cost - Selling, general and administrative		1,567		1,453

For the three months ended March 31, 2021, the Company has capitalized $1,199 of lease costs, for vessels and port space used during the commissioning of development projects, in addition to short-term lease costs for vessels chartered by the Company to bring inventory from a supplier’s facilities to the Company’s storage locations which are capitalized to inventory.

Cash paid for operating leases is reported in operating activities in the condensed consolidated statements of cash flows. Supplemental cash flow information related to leases was as follows for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021		2020
Operating cash outflows for operating lease liabilities	$	12,660	$	10,096
Right-of-use assets obtained in exchange for new operating lease liabilities		-		127,994

The future payments due under operating leases as of March 31, 2021 are as follows:

	Operating Leases
Due remainder of 2021	$	30,754
2022		29,931
2023		18,719
2024		17,866
2025		10,680
Thereafter		50,019
Total lease payments		157,969
Less: effects of discounting		48,749
Present value of lease liabilities	$	109,220

Current lease liability	$	34,857
Non-current lease liability		74,363

As of March 31, 2021, the weighted-average remaining lease term for all operating leases was 7.3 years. Because the Company generally does not have access to the rate implicit in the lease, the incremental borrowing rate is utilized as the discount rate. The weighted average discount rate associated with operating leases as of March 31, 2021 was 8.4%.

The Company has entered into several leases for ISO tanks and an office space that have not commenced as of March 31, 2021 with noncancelable terms of 5 years and including fixed payments of approximately $24 million.

Lessor

In the Company’s agreements to sell LNG or natural gas to customers, the Company may also lease certain equipment to customers which are accounted for either as a finance or an operating lease. Property, plant and equipment subject to operating leases is included within ISO containers and other equipment within Note 11. Property, plant and equipment, net. The following is the amount of property, plant and equipment that is leased to customers:

	March 31, 2021			December 31, 2020
Property, plant and equipment	$	18,747		$	18,394
Accumulated depreciation		(1,189	)		(932	)
Property, plant and equipment, net	$	17,558		$	17,462

The following table shows the expected future lease payments as of March 31, 2021, for the remainder of 2021 through 2025 and thereafter:

	Future cash receipts
	Financing leases		Operating leases
Remainder of 2021	$	1,671	$	220
2022		2,149		286
2023		2,134		288
2024		2,135		273
2025		2,001		234
Thereafter		5,705		743
Total	$	15,795	$	2,044
Less: Imputed interest		6,718
Present value of total lease receipts	$	9,077

Current finance leases, net	$	1,576
Non-current finance leases, net		7,501

Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Components of Operating Lease Costs

For the three months ended March 31, 2021 and 2020, the Company’s operating lease cost recorded within the condensed consolidated statements of operations and comprehensive loss were as follows:

	Three Months Ended March 31,
	2021		2020
Fixed lease cost	$	11,745	$	10,267
Variable lease cost		693		639
Short-term lease cost		722		286

Lease cost - Cost of sales	$	11,036	$	9,351
Lease cost - Operations and maintenance		557		388
Lease cost - Selling, general and administrative		1,567		1,453

Supplemental Cash Flow Information Related to Leases

	Three Months Ended March 31,
	2021		2020
Operating cash outflows for operating lease liabilities	$	12,660	$	10,096
Right-of-use assets obtained in exchange for new operating lease liabilities		-		127,994

Future Payments Due under Operating Leases

The future payments due under operating leases as of March 31, 2021 are as follows:

	Operating Leases
Due remainder of 2021	$	30,754
2022		29,931
2023		18,719
2024		17,866
2025		10,680
Thereafter		50,019
Total lease payments		157,969
Less: effects of discounting		48,749
Present value of lease liabilities	$	109,220

Current lease liability	$	34,857
Non-current lease liability		74,363

Property, Plant and Equipment Subject to Operating Leases

	March 31, 2021			December 31, 2020
Property, plant and equipment	$	18,747		$	18,394
Accumulated depreciation		(1,189	)		(932	)
Property, plant and equipment, net	$	17,558		$	17,462

Operating and Financing Lease Payments to be Received

The following table shows the expected future lease payments as of March 31, 2021, for the remainder of 2021 through 2025 and thereafter:

	Future cash receipts
	Financing leases		Operating leases
Remainder of 2021	$	1,671	$	220
2022		2,149		286
2023		2,134		288
2024		2,135		273
2025		2,001		234
Thereafter		5,705		743
Total	$	15,795	$	2,044
Less: Imputed interest		6,718
Present value of total lease receipts	$	9,077

Current finance leases, net	$	1,576
Non-current finance leases, net		7,501

Inventory (Tables)

3 Months Ended

Mar. 31, 2021

Inventory [Abstract]

Inventory

As of March 31, 2021 and December 31, 2020, inventory consisted of the following:

	March 31, 2021		December 31, 2020
LNG and natural gas inventory	$	18,213	$	13,986
Automotive diesel oil inventory		4,463		3,986
Bunker fuel, materials, supplies and other		5,355		4,888
Total inventory	$	28,031	$	22,860

Asset acquisitions

3 Months Ended

Mar. 31, 2021

Asset acquisitions [Abstract]

Asset acquisitions

21.

Asset acquisitions

On January 12, 2021, the Company acquired 100% of the outstanding share quota of CH4 Energia Ltda. ("CH4"), an entity that owns key permits and authorizations to develop an LNG terminal and an up to 1.37GW gas-fired power plant at the Port of Suape in Brazil. The purchase consideration consisted of $903 of cash paid at closing in addition to potential future payments contingent on achieving certain construction milestones of up to $3,600. As the contingent payments meet the definition of a derivative, the fair value of the contingent payments of $3,047 is included as part of the purchase consideration and is recognized in Other non-current liabilities on the condensed consolidated balance sheet as of March 31, 2021. The selling shareholders of CH4 may also receive future payments based on gas consumed by the power plant or sold to customers from the LNG terminal.

The purchase of CH4 has been accounted for as an asset acquisition. As a result, no goodwill was recorded, and the Company’s acquisition-related costs of $295 are included in the purchase consideration. The total purchase consideration of $4,245 was allocated to permits and authorizations acquired and is recorded within Intangible assets, net. In addition, the Company recognized a deferred tax liability of $1,531 that resulted from the acquisition.

On March 11, 2021, the Company acquired 100% of the outstanding shares of Pecém Energia S.A. (“Pecém”) and Energetica Camacari Muricy II S.A. (“Muricy”). These companies collectively hold grants to operate as an independent power provider and 15-year power purchase agreements for the development of thermoelectric power plants in the State of Bahia, Brazil. The Company is seeking to obtain the necessary approvals to transfer the power purchase agreements in connection with the construction the gas-fired power plant and LNG import terminal at the Port of Suape.

The purchase consideration consisted of $8,041 of cash paid at closing in addition to potential future payments contingent on achieving commercial operations of the gas-fired power plant at the Port of Suape of up to approximately $10.5 million. As the contingent payments meet the definition of a derivative, the fair value of the contingent payments of $7,473 was included as part of the purchase consideration and is recognized in Other non-current liabilities on the condensed consolidated balance sheet as of March 31, 2021. The selling shareholders may also receive future payments based on power generated by the power plant in Suape, subject to a maximum payment of approximately $4.6 million.

The purchases of Pecém and Muricy were accounted for as asset acquisitions. As a result, no goodwill was recorded, and the Company’s acquisition-related costs of $1,275 were included in the purchase consideration. Of the total purchase consideration, $16,585 was allocated to acquired power purchase agreements and recorded in Intangibles on the condensed consolidated balance sheet; the remaining purchase consideration was related to working capital acquired.

Debt, The Credit Agreement (Details) - USD ($) $ in Thousands			3 Months Ended
	Sep. 02, 2020	Jan. 10, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2018	Aug. 16, 2018
Credit Agreement [Abstract]
Loss on extinguishment of debt			$ 0	$ 9,557
Credit Agreement [Member]
Credit Agreement [Abstract]
Aggregate principal amount		$ 800,000
Debt maturity date			Jan. 15, 2023
Variable interest rate		6.25%
Increase in interest rate		1.50%
Reduction in principal balance	$ 6,501	$ 37,051
Loss on extinguishment of debt	$ (16,310)
Credit Agreement [Member] \| Interest Rate Floor [Member]
Credit Agreement [Abstract]
Variable interest rate		1.50%
Term Loan Facility, due January 21, 2020 [Member]
Credit Agreement [Abstract]
Aggregate principal amount					$ 500,000	$ 240,000
Variable interest rate			4.00%
Increase in interest rate			0.50%
Proceeds used to extinguish debt		$ 495,000
Loss on extinguishment of debt			$ 9,557

Revenue from contracts with customers

3 Months Ended

Mar. 31, 2021

Revenue from contracts with customers [Abstract]

Revenue from contracts with customers

Under most customer contracts, invoicing occurs once the Company’s performance obligations have been satisfied, at which point payment is unconditional. As of March 31, 2021 and December 31, 2020, receivables related to revenue from contracts with customers totaled $95,753 and $76,431, respectively, and were included in Receivables, net on the condensed consolidated balance sheets, net of current expected credit losses of $203 and $98, respectively. Other items included in Receivables, net not related to revenue from contracts with customers represent receivables associated with reimbursable costs and leases which are accounted for outside the scope of ASC 606.

The Company has recognized contract liabilities, comprised of unconditional payments due or paid under the contracts with customers prior to the Company’s satisfaction of the related performance obligations. The performance obligations are expected to be satisfied during the next 12 months, and the contract liabilities are classified within Other current liabilities on the condensed consolidated balance sheets. Contract assets are comprised of the transaction price allocated to completed performance obligations that will be billed to customers in subsequent periods. The contract liabilities and contract assets balances as of March 31, 2021 and December 31, 2020 are detailed below:

	March 31, 2021		December 31, 2020
Contract assets, net-current	$	5,268	$	3,673
Contract assets, net-non-current		30,685		23,972
Total contract assets, net	$	35,953	$	27,645

Contract liabilities	$	10,704	$	8,399

Revenue recognized in the year from:
Amounts included in contract liabilities at the beginning of the year	$	942	$	6,542

Contract assets are presented net of expected credit losses of $484 and $372 as of March 31, 2021 and December 31, 2020, respectively. As of March 31, 2021, the Company has unbilled receivables, net of current expected credit losses, of $6,729, of which $356 is presented within Other current assets and $6,373 is presented within Other non-current assets on the condensed consolidated balance sheet. These unbilled receivables represent unconditional right to payment subject only to the passage of time.

Operating revenue which includes revenue from sales of LNG and natural gas as well as outputs from the Company’s natural gas-fueled power generation facilities, including power and steam, was $91,196 and $63,502 for the three months ended March 31, 2021 and 2020, respectively.

Other revenue includes revenue for development services as well as lease and other revenue. The table below summarizes the balances in Other revenue:

	Three Months Ended March 31,
	2021		2020
Development services revenue	$	54,071	$	10,071
Lease and other revenue		417		957
Total other revenue	$	54,488	$	11,028

Development services revenue recognized in the three months ended March 31, 2021 included $45,618 for the customer’s use of natural gas as part of commissioning their assets.

Transaction price allocated to remaining performance obligations

Some of the Company’s contracts are short-term in nature with a contract term of less than a year. The Company applied the optional exemption not to report any unfulfilled performance obligations related to these contracts.

The Company has arrangements in which LNG, natural gas or outputs from the Company’s power generation facilities are sold on a “take-or-pay” basis whereby the customer is obligated to pay for the minimum guaranteed volumes even if it does not take delivery. The price under these agreements is typically based on a market index plus a fixed margin. The fixed transaction price allocated to the remaining performance obligations under these arrangements is $10,478,395 as of March 31, 2021, representing the fixed margin multiplied by the outstanding minimum guaranteed volumes. The Company expects to recognize this revenue over the following time periods. The pattern of recognition reflects the minimum guaranteed volumes in each period:

Period	Revenue
Remainder of 2021	$	278,546
2022		504,522
2023		504,708
2024		499,842
2025		494,081
Thereafter		8,196,696
Total	$	10,478,395

For all other sales contracts that have a term exceeding one year, the Company has elected the practical expedient in ASC 606 under which the Company does not disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. For these excluded contracts, the sources of variability are (a) the market index prices of natural gas used to price the contracts, and (b) the variation in volumes that may be delivered to the customer. Both sources of variability are expected to be resolved at or shortly before delivery of each unit of LNG, natural gas, power or steam. As each unit of LNG, natural gas, power or steam represents a separate performance obligation, future volumes are wholly unsatisfied.

The Company has recognized costs to fulfill a contract with a significant customer, which primarily consist of expenses required to enhance resources to deliver under the agreement with the customer. As of March 31, 2021, the Company has capitalized $11,434 of which $604 of these costs is presented within Other current assets and $10,830 is presented within Other non-current assets on the condensed consolidated balance sheets. As of December 31, 2020, the Company had capitalized $11,276, of which $588 of these costs was presented within Other current assets and $10,688 was presented within Other non-current assets on the condensed consolidated balance sheets. In the first quarter of 2020, the Company began delivery under the agreement and started recognizing these costs on a straight-line basis over the expected term of the agreement.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Asset acquisitions (Details) - USD ($) $ in Thousands			3 Months Ended
Asset acquisitions (Details) - USD ($) $ in Thousands	Mar. 11, 2021	Jan. 12, 2021	Mar. 31, 2021
CH4 Energia Ltda. [Member]
Business Combination, Description [Abstract]
Percentage of outstanding shares acquired		100.00%
Cash consideration at date of merger		$ 903
Maximum future payments contingent on achieving certain construction milestones		3,600
Fair value of contingent payments		3,047
Goodwill		0
Acquisition related costs		295
Total purchase consideration		4,245	$ 5,776
Deferred tax liability recognized on acquisition		$ 1,531
Pecem Energia S.A. and Energetica Camacari Muricy II S.A. [Member]
Business Combination, Description [Abstract]
Cash consideration at date of merger	$ 8,041
Maximum future payments contingent on achieving certain construction milestones	10,500
Fair value of contingent payments	7,473
Goodwill	0
Acquisition related costs	1,275
Total purchase consideration	$ 16,585		$ 16,585
Term of power purchase agreements	15 years
Maximum future payments payable to shareholders	$ 4,600
Pecem Energia S.A. [Member]
Business Combination, Description [Abstract]
Percentage of outstanding shares acquired	100.00%
Energetica Camacari Muricy II S.A. [Member]
Business Combination, Description [Abstract]
Percentage of outstanding shares acquired	100.00%

Income taxes

3 Months Ended

Mar. 31, 2021

Income taxes [Abstract]

Income taxes

16.

Income taxes

In the third quarter of 2020, the Company completed the Conversion; NFE LLC had been a corporation for U.S. federal tax purposes and converting NFE LLC from a limited liability company to a corporation had no effect on the U.S. federal tax treatment of the Company or its shareholders.

In connection with the IPO, NFE LLC contributed the net proceeds from the IPO to NFI in exchange for NFI LLC Units, and NFE LLC became the managing member of NFI. Prior to the Exchange Transactions, NFI was a limited liability company that was treated as a partnership for U.S. federal income tax purposes and for most applicable state and local income tax purposes. As a partnership, NFI was not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by NFI was passed through to and included in the taxable income or loss of its members, on a pro rata basis, subject to applicable tax regulations. Subsequent to the Exchange Transactions completed on June 10, 2020, 100% of NFI’s operations are included in the NFE income tax provision; there was no impact on income tax expense due to the Exchange Transactions. NFE is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to its allocable share of any taxable income or loss of NFI. Additionally, NFI and its subsidiaries are subject to income taxes in the various foreign jurisdictions in which they operate.

In the first quarter of 2021, the Company contributed all NFI LLC units into a wholly owned corporate entity, which had the effect of terminating NFI LLC’s treatment as a partnership for U.S. federal income tax purposes. The transaction does not have a material impact on income tax expense.

The effective tax rate for the three months ended March 31, 2021 was 2.2%, compared to 0.01% for the three months ended March 31, 2020. The total tax benefit for the three months ended March 31, 2021 was $877, compared to $4 for the three months ended March 31, 2020, and the increase in benefit for the three months ended March 31, 2021 was primarily driven by the release of a valuation allowance in a foreign jurisdiction resulting in a discrete benefit of $3,010 partially offset by income tax expense recorded for certain profitable non-U.S. operations.

The primary items which decreased the Company’s effective tax rate for the three months ended March 31, 2021 and March 31, 2020 from the U.S. federal statutory rate of 21% were valuation allowances recorded against a portion of the Company’s current period losses and earnings generated in non-U.S. jurisdictions with lower tax rates.

The Company has not recorded a liability for uncertain tax positions as of March 31, 2021. The Company remains subject to periodic audits and reviews by the taxing authorities, and NFE’s returns since its formation remain open for examination.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Debt, Term Loan Facility (Details) $ in Thousands		3 Months Ended
Debt, Term Loan Facility (Details) $ in Thousands	Mar. 21, 2019 USD ($)	Mar. 31, 2021 USD ($) Extension	Mar. 31, 2020 USD ($)	Dec. 31, 2018 USD ($)	Aug. 16, 2018 USD ($) Lender
Term Loan Facility [Abstract]
Loss on extinguishment of debt		$ 0	$ (9,557)
Term Loan Facility, due January 21, 2020 [Member]
Term Loan Facility [Abstract]
Number of lenders \| Lender					2
Aggregate principal amount				$ 500,000	$ 240,000
Outstanding borrowings	$ 500,000			$ 280,000
Additional borrowing amount	$ 220,000
Debt instrument, basis spread on variable rate		4.00%
Debt instrument, frequency of periodic payment		quarterly
Debt instrument, periodic payment		$ 1,250
Number of extensions for maturity date \| Extension		2
Additional extended maturity period		6 months
Percentage of fee payable in outstanding principal for extension of maturity date		1.00%
Increase in interest rate		0.50%
Loss on extinguishment of debt		$ (9,557)
Term Loan Facility, due January 21, 2020 [Member] \| Floor Rate [Member]
Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate		1.00%
Term Loan Facility, due January 21, 2020 [Member] \| Federal Funds Rate [Member]
Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate		0.50%
Term Loan Facility, due January 21, 2020 [Member] \| LIBOR [Member]
Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate		1.00%
Debt instrument, term of variable rate		1 month
Interest rate plus spread		3.00%

Construction in progress (Details) - USD ($) $ in Thousands	3 Months Ended
Construction in progress (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Construction in Progress [Roll Forward]
Balance at beginning of period	$ 234,037
Additions	105,761
Transferred to property, plant and equipment, net or finance leases	(2,107)
Balance at end of period	337,691
Interest costs capitalized	$ 2,641	$ 9,606

Share-based compensation (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Restricted Stock Units [Member]

Number of Shares [Roll Forward]

Non-vested RSUs, beginning balance (in shares)

1,538,060

Granted (in shares)

Vested (in shares)

(665,781)

Forfeited (in shares)

(3,017)

Non-vested RSUs, ending balance (in shares)

869,262

Weighted Average Grant Date Fair Value Per Share [Abstract]

Non-vested RSUs, beginning balance (in dollars per share)

$ 13.49

Granted (in dollars per share)

Vested and shares issued (in dollars per share)

13.54

Forfeited (in dollars per share)

13.51

Non-vested RSUs, ending balance (in dollars per share)

$ 13.45

Share-based Payment Arrangement [Abstract]

Share-based compensation expense

$ 1,770

$ 2,508

Compensation expense recognized for forfeited RSU awards

Unrecognized compensation cost

$ 6,400

Weighted-average remaining vesting period of non-vested stock (in years)

1 year 18 days

Restricted Stock Units [Member] | Operations and Maintenance [Member]

Share-based Payment Arrangement [Abstract]

Share-based compensation expense

$ 222

237

Restricted Stock Units [Member] | Selling, General and Administrative Expenses [Member]

Share-based Payment Arrangement [Abstract]

Share-based compensation expense

$ 1,548

$ 2,271

Restricted Stock Units [Member] | Minimum [Member]

Share-based Payment Arrangement [Abstract]

Vesting period

10 months

Restricted Stock Units [Member] | Maximum [Member]

Share-based Payment Arrangement [Abstract]

Vesting period

3 years

Performance Share Units [Member] | Employees and Non-employees [Member]

Number of Shares [Roll Forward]

Granted (in shares)

400,507

1,109,777

Share-based Payment Arrangement [Abstract]

Unrecognized compensation cost

^[1]

$ 32,577

$ 30,864

Weighted-average remaining vesting period of non-vested stock (in years)

1 year 9 months

9 months

Performance Share Units [Member] | Minimum [Member] | Employees and Non-employees [Member]

Number of Shares [Roll Forward]

Vested (in shares)

Performance Share Units [Member] | Maximum [Member] | Employees and Non-employees [Member]

Number of Shares [Roll Forward]

Vested (in shares)

(801,014)

(2,219,554)

[1]	Unrecognized compensation cost is based upon the maximum amount of shares that could vest

Intangible assets (Tables)

3 Months Ended

Mar. 31, 2021

Intangible assets [Abstract]

Composition of Intangible Assets

The following table summarizes the composition of intangible assets as of March 31, 2021 and December 31, 2020:

	March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Life
Definite-lived intangible assets
Permits	$	49,467	$	2,607	$	46,860		38
Acquired power purchase agreements		16,499		-		16,499		17
Easements		1,559		203		1,356		30

Indefinite-lived intangible assets
Easements		1,219		-		1,219		n/a
Total intangible assets	$	68,744	$	2,810	$	65,934

	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Life
Definite-lived intangible assets
Permits	$	45,897	$	2,438	$	43,459		40
Easements		1,559		190		1,369		30

Indefinite-lived intangible assets
Easements		1,274		-		1,274		n/a
Total intangible assets	$	48,730	$	2,628	$	46,102

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 360,130	$ 601,522
Restricted cash	4,072	12,814
Receivables, net of allowances of $203 and $98, respectively	95,729	76,544
Inventory	28,031	22,860
Prepaid expenses and other current assets, net	60,245	48,270
Total current assets	548,207	762,010
Restricted cash	15,000	15,000
Construction in progress	337,691	234,037
Property, plant and equipment, net	607,003	614,206
Right-of-use assets	131,575	141,347
Intangible assets, net	65,934	46,102
Finance leases, net	7,501	7,044
Deferred tax assets, net	5,060	2,315
Other non-current assets, net	114,140	86,030
Total assets	1,832,111	1,908,091
Current liabilities
Accounts payable	27,970	21,331
Accrued liabilities	88,809	90,352
Current lease liabilities	34,857	35,481
Due to affiliates	10,859	8,980
Other current liabilities	33,375	35,006
Total current liabilities	195,870	191,150
Long-term debt	1,239,799	1,239,561
Non-current lease liabilities	74,363	84,323
Deferred tax liabilities, net	5,194	2,330
Other long-term liabilities	25,704	15,641
Total liabilities	1,540,930	1,533,005
Commitments and contingences (Note 17)
Stockholders' equity
Additional paid-in capital	551,135	594,534
Accumulated deficit	(267,406)	(229,503)
Accumulated other comprehensive income	59	182
Total stockholders' equity attributable to NFE	285,534	366,959
Non-controlling interest	5,647	8,127
Total stockholders' equity	291,181	375,086
Total liabilities and stockholders' equity	1,832,111	1,908,091
Class A Common Stock [Member]
Stockholders' equity
Class A common stock, $0.01 par value, 750.0 million shares authorized, 175.3 million issued and outstanding as of March 31, 2021; 174.6 million issued and outstanding as of December 31, 2020	$ 1,746	$ 1,746

Other non-current assets (Tables)

3 Months Ended

Mar. 31, 2021

Other non-current assets [Abstract]

Other Non-Current Assets

As of March 31, 2021 and December 31, 2020, Other non-current assets consisted of the following:

	March 31, 2021		December 31, 2020
Nonrefundable deposit	$	30,728	$	28,509
Contract asset, net (Note 4)		30,685		23,972
Cost to fulfill (Note 4)		10,830		10,688
Unbilled receivables, net (Note 4)		6,373		6,462
Upfront payments to customers		10,501		6,330
Other		25,023		10,069
Total other non-current assets, net	$	114,140	$	86,030

Restricted cash (Tables)

3 Months Ended

Mar. 31, 2021

Restricted cash [Abstract]

Restricted Cash

As of March 31, 2021 and December 31, 2020, restricted cash consisted of the following:

	March 31, 2021		December 31, 2020
Collateral for performance under customer agreements	$	15,000	$	15,000
Collateral for LNG purchases		2,916		11,664
Collateral for letters of credit and performance bonds		906		900
Other restricted cash		250		250
Total restricted cash	$	19,072	$	27,814

Current restricted cash	$	4,072	$	12,814
Non-current restricted cash		15,000		15,000

Leases, Expected Future Lease Payments (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Financing leases, lease receivable, fiscal year maturity [Abstract]
Remainder of 2021	$ 1,671
2022	2,149
2023	2,134
2024	2,135
2025	2,001
Thereafter	5,705
Total	15,795
Less: Imputed interest	6,718
Present value of total lease receipts	9,077
Current finance leases, net	1,576
Non-current finance leases, net	7,501
Operating lease, payments, fiscal year maturity [Abstract]
Reminder of 2021	220
2022	286
2023	288
2024	273
2025	234
Thereafter	743
Total	$ 2,044

Inventory (Details) - USD ($) $ in Thousands	3 Months Ended
Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Inventory [Abstract]
LNG and natural gas inventory	$ 18,213		$ 13,986
Automotive diesel oil inventory	4,463		3,986
Bunker fuel, materials, supplies and other	5,355		4,888
Total inventory	28,031		$ 22,860
Inventory adjustments	$ 0	$ 0

Accrued liabilities

3 Months Ended

Mar. 31, 2021

Accrued liabilities [Abstract]

Accrued liabilities

14.

Accrued liabilities

As of March 31, 2021 and December 31, 2020, accrued liabilities consisted of the following:

	March 31, 2021		December 31, 2020
Accrued development costs	$	25,222	$	16,631
Accrued interest		3,516		27,938
Accrued bonuses		6,171		17,344
Other accrued expenses		53,900		28,439
Total accrued liabilities	$	88,809	$	90,352

Other accrued expenses includes accrued legal, accounting and other transaction costs associated with the Mergers and the issuance of the 2026 Notes and the Revolving Facility (all defined below).

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Class A Shares [Member]	Common Stock [Member] Class B Shares [Member]	Common Stock [Member] Class A Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interest [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Class A Shares [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Class B Shares [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] Class A Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Deficit [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Other Comprehensive (Loss) Income [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Non-controlling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2019	$ 130,658	$ 0	$ 0	$ 0	$ (45,823)	$ (30)	$ 302,519	$ 387,324
Balance (ASC 842 [Member]) at Dec. 31, 2019									$ 0	$ 0	$ 0	$ 0	$ (1,533)	$ 0	$ (7,780)	$ (9,313)
Balance (in shares) at Dec. 31, 2019	23,607,096	144,342,572	0
Balance (in shares) (ASC 842 [Member]) at Dec. 31, 2019									0	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	$ 0	0	(8,466)	0	(51,757)	(60,223)
Other comprehensive loss	0	0	0	0	0	(53)	(316)	(369)
Share-based compensation expense	2,508	0	0	0	0	0	0	2,508
Issuance of shares for vested RSUs	$ 0	$ 0	$ 0	0	0	0	0	0
Issuance of shares for vested RSUs (in shares)	1,212,907	0	0
Shares withheld from employees related to share-based compensation, at cost	$ (6,132)	$ 0	$ 0	0	0	0	0	(6,132)
Shares withheld from employees related to share-based compensation, at cost (in shares)	(583,508)	0	0
Balance at Mar. 31, 2020	$ 127,034	$ 0	$ 0	0	(55,822)	(83)	242,666	313,795
Balance (in shares) at Mar. 31, 2020	24,236,495	144,342,572	0
Balance at Dec. 31, 2020	$ 0	$ 0	$ 1,746	594,534	(229,503)	182	8,127	375,086
Balance (in shares) at Dec. 31, 2020	0	0	174,622,862
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	$ 0	$ 0	0	(37,903)	0	(1,606)	(39,509)
Other comprehensive loss			0	0	0	(123)	(874)	(997)
Share-based compensation expense			0	1,770	0	0	0	1,770
Issuance of shares for vested RSUs	$ 0	$ 0	$ 0	0	0	0	0	0
Issuance of shares for vested RSUs (in shares)	0	0	1,335,787
Shares withheld from employees related to share-based compensation, at cost	$ 0	$ 0	$ 0	(27,571)	0	0	0	(27,571)
Shares withheld from employees related to share-based compensation, at cost (in shares)	0	0	(638,235)
Dividends	$ 0	$ 0	$ 0	(17,598)	0	0	0	(17,598)
Balance at Mar. 31, 2021	$ 0	$ 0	$ 1,746	$ 551,135	$ (267,406)	$ 59	$ 5,647	$ 291,181
Balance (in shares) at Mar. 31, 2021	0	0	175,320,414

Earnings per share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings per share [Abstract]

Earnings Per Share

	Three Months Ended March 31,
	2021			2020
Numerator:
Net loss	$	(39,509	)	$	(60,223	)
Less: net loss attributable to non-controlling interests		1,606			51,757
Net loss attributable to Class A common stock	$	(37,903	)	$	(8,466	)
Denominator:
Weighted-average shares-basic and diluted		176,500,576			26,029,492

Net loss per share - basic and diluted	$	(0.21	)	$	(0.32	)

Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive

The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because its effects would have been anti-dilutive.

	Three Months Ended March 31,
	2021		2020
Unvested RSUs¹		869,262		1,890,125
Class B shares²		-		144,342,572
Shannon Equity Agreement shares³		464,267		1,635,462
Total		1,333,529		147,868,159

¹	Represents the number of instruments outstanding at the end of the period.

²	Class B shares at the end of the period are considered potentially dilutive Class A shares. In connection with the closing of the Exchange Transactions on June 10, 2020, all outstanding Class B shares were exchanged for Class A shares.

³	Class A common stock that would be issued in relation to the Shannon LNG Equity Agreement.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Allowances for receivables	$ 203	$ 98
Class A Common Stock [Member]
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000.0	750,000,000.0
Common stock, shares issued (in shares)	175,300,000	174,600,000
Shares outstanding (in shares)	175,320,414	174,600,000

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Entity Registrant Name	New Fortress Energy Inc.
Entity Central Index Key	0001749723
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-38790
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-1482060
Entity Address, Address Line One	111 W. 19th Street
Entity Address, Address Line Two	8th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	516
Local Phone Number	268-7400
Title of 12(b) Security	Class A common stock
Trading Symbol	NFE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		206,698,564

Leases, Future Payments Due under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Future minimum payments of operating lease liability [Abstract]
Due remainder of 2021	$ 30,754
2022	29,931
2023	18,719
2024	17,866
2025	10,680
Thereafter	50,019
Total lease payments	157,969
Less: effects of discounting	48,749
Present value of lease liabilities	109,220
Current lease liability	34,857	$ 35,481
Non-current lease liability	$ 74,363	$ 84,323
Weighted-average remaining lease term	7 years 3 months 18 days
Weighted average discount rate	8.40%
Noncancelable term for ISO tanks	5 years
Fixed payments for lease components	$ 24,000

Restricted cash

3 Months Ended

Mar. 31, 2021

Restricted cash [Abstract]

Restricted cash

As of March 31, 2021 and December 31, 2020, restricted cash consisted of the following:

	March 31, 2021		December 31, 2020
Collateral for performance under customer agreements	$	15,000	$	15,000
Collateral for LNG purchases		2,916		11,664
Collateral for letters of credit and performance bonds		906		900
Other restricted cash		250		250
Total restricted cash	$	19,072	$	27,814

Current restricted cash	$	4,072	$	12,814
Non-current restricted cash		15,000		15,000

Revenue from contracts with customers (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from contracts with customers [Abstract]

Contract with Customer, Asset and Liability

	March 31, 2021		December 31, 2020
Contract assets, net-current	$	5,268	$	3,673
Contract assets, net-non-current		30,685		23,972
Total contract assets, net	$	35,953	$	27,645

Contract liabilities	$	10,704	$	8,399

Revenue recognized in the year from:
Amounts included in contract liabilities at the beginning of the year	$	942	$	6,542

Other Revenue

Other revenue includes revenue for development services as well as lease and other revenue. The table below summarizes the balances in Other revenue:

	Three Months Ended March 31,
	2021		2020
Development services revenue	$	54,071	$	10,071
Lease and other revenue		417		957
Total other revenue	$	54,488	$	11,028

Remaining Performance Obligations

Period	Revenue
Remainder of 2021	$	278,546
2022		504,522
2023		504,708
2024		499,842
2025		494,081
Thereafter		8,196,696
Total	$	10,478,395

Debt, Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
Debt, Interest Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Interest costs [Abstract]
Amortization of debt issuance costs	$ 400	$ 3,353
Total interest expense	18,680	13,890
Debt [Member]
Interest costs [Abstract]
Interest per contractual rates	20,834	18,874
Amortization of debt issuance costs	487	4,622
Total interest costs	21,321	23,496
Capitalized interest	2,641	9,606
Total interest expense	$ 18,680	$ 13,890

Construction in progress

3 Months Ended

Mar. 31, 2021

Construction in progress [Abstract]

Construction in progress

10.

Construction in progress

The Company’s construction in progress activity during the three months ended March 31, 2021 is detailed below:

	March 31, 2021
Balance at beginning of period	$	234,037
Additions		105,761
Transferred to property, plant and equipment, net or finance leases		(2,107	)
Balance at end of period	$	337,691

Interest expense of $2,641 and $9,606, inclusive of amortized debt issuance costs, was capitalized for the three months ended March 31, 2021 and 2020, respectively.

Leases, Property, Plant and Equipment Subject to Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment Subjected to Operating Lease [Abstract]
Total property, plant and equipment, net	$ 607,003	$ 614,206
Lessor [Member]
Property, Plant and Equipment Subjected to Operating Lease [Abstract]
Property, plant and equipment	18,747	18,394
Accumulated depreciation	(1,189)	(932)
Total property, plant and equipment, net	$ 17,558	$ 17,462

Accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accrued liabilities [Abstract]
Accrued development costs	$ 25,222	$ 16,631
Accrued interest	3,516	27,938
Accrued bonuses	6,171	17,344
Other accrued expenses	53,900	28,439
Total accrued liabilities	$ 88,809	$ 90,352

Related party transactions

3 Months Ended

Mar. 31, 2021

Related party transactions

20.

Related party transactions

Management services

The Company is majority owned by Messrs. Edens (our chief executive officer and chairman of our Board of Directors) and Nardone (one of our Directors) who are currently employed by Fortress Investment Group LLC (“Fortress”). In the ordinary course of business, Fortress, through affiliated entities, has historically charged the Company for administrative and general expenses incurred pursuant to its Management Services Agreement (“Management Agreement”). Upon completion of the IPO, the Management Agreement was terminated and replaced by an Administrative Services Agreement (“Administrative Agreement”) to charge the Company for similar administrative and general expenses. The charges under the Administrative Agreement that are attributable to the Company totaled $1,927 and $2,231 for the three months ended March 31, 2021 and 2020, respectively. Costs associated with the Administrative Agreement are included within Selling, general and administrative in the condensed consolidated statements of operations and comprehensive loss. As of March 31, 2021 and December 31, 2020, $7,145 and $5,535 were due to Fortress, respectively.

In addition to management and administrative services, an affiliate of Fortress owns and leases an aircraft chartered by the Company for business purposes in the course of operations. The Company incurred, at aircraft operator market rates, charter costs of $1,609 and $1,239 for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021 and December 31, 2020, $554 and $472 was due to this affiliate, respectively.

Land lease

The Company has leased land from Florida East Coast Industries, LLC (“FECI”), which is controlled by funds managed by an affiliate of Fortress. The Company recognized expense related to the land lease of $126 and $103 during the three months ended March 31, 2021 and 2020, respectively, which was included within Operations and maintenance in the condensed consolidated statements of operations and comprehensive loss. As of March 31, 2021 and December 31, 2020, $0 and $316 was due to FECI, respectively. As of March 31, 2021, the Company has recorded a lease liability of $3,288 within Non-current lease liabilities on the condensed consolidated balance sheet.

DevTech Investment

In August 2018, the Company entered into a consulting arrangement with DevTech Environment Limited (“DevTech”) to provide business development services to increase the customer base of the Company. DevTech also contributed cash consideration in exchange for a 10% interest in a consolidated subsidiary. The 10% interest is reflected as non-controlling interest in the Company’s condensed consolidated financial statements. DevTech purchased 10% of a note payable due to an affiliate of the Company. As of March 31, 2021 and December 31, 2020, $715 was owed to DevTech on the note payable, and the outstanding note payable due to DevTech is included in Other long-term liabilities on the condensed consolidated balance sheets. The interest expense on the note payable due to DevTech was $21 and $19 for the three months ended March 31, 2021 and 2020, respectively. No interest has been paid, and accrued interest has been recognized within Other current liabilities on the condensed consolidated balance sheets. As of March 31, 2021 and December 31, 2020, $343 was due from DevTech.

Fortress affiliated entities

Since 2017, the Company has provided certain administrative services to related parties including Fortress affiliated entities. As of March 31, 2021 and December 31, 2020, $1,210 and $1,334 were due from affiliates, respectively. There are no costs incurred by the Company as the Company is fully reimbursed for all costs incurred. Beginning in the fourth quarter of 2020, the Company began to sublease a portion of office space to an affiliate of an entity managed by Fortress, and for the three months ended March 31, 2021, $153 of rent and office related expenses were incurred by this affiliate. As of March 31, 2021 and December 31, 2020, $359 and $204 were due from this affiliate, respectively.

Additionally, an entity formerly affiliated with Fortress and currently owned by Messrs. Edens and Nardone provides certain administrative services to the Company, as well as providing office space under a month-to-month non-exclusive license agreement. The Company incurred rent and administrative expenses of approximately $803 and $1,165 for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021 and December 31, 2020, $3,160 and $2,657 were due to Fortress affiliated entities, respectively.

Due to/from Affiliates

The table below summarizes the balances outstanding with affiliates as of March 31, 2021 and December 31, 2020:

	March 31, 2021		December 31, 2020
Amounts due to affiliates	$	10,859	$	8,980
Amounts due from affiliates		1,912		1,881

Subsequent events (Details) - Subsequent Events [Member] - USD ($) $ / shares in Units, $ in Millions	Apr. 15, 2021	Apr. 12, 2021
Senior Secured Notes, due 2026 [Member]
Merger Agreement [Abstract]
Maturity date		Dec. 31, 2026
Fixed interest rate		6.50%
Percentage of notes issued		100.00%
Senior Secured Revolving Facility [Member]
Merger Agreement [Abstract]
Aggregate principal amount	$ 200
Debt instrument term	5 years
Senior Secured Revolving Facility [Member] \| LIBOR [Member]
Merger Agreement [Abstract]
Term of variable rate	3 months
Private Offering [Member] \| Senior Secured Notes, due 2026 [Member]
Merger Agreement [Abstract]
Aggregate principal amount		$ 1,500
Hygo Merger Agreement [Member] \| Class A Common Stock [Member]
Merger Agreement [Abstract]
Cash consideration at date of merger	$ 580
Number of common stock, shares issuable upon merger transaction (in shares)	31,372,549
GMLP Merger Agreement [Member]
Merger Agreement [Abstract]
Purchase price (in dollars per share)	$ 3.55
Outstanding membership interests amount	$ 251

Other non-current assets

3 Months Ended

Mar. 31, 2021

Other non-current assets [Abstract]

Other non-current assets

13.

Other non-current assets

As of March 31, 2021 and December 31, 2020, Other non-current assets consisted of the following:

	March 31, 2021		December 31, 2020
Nonrefundable deposit	$	30,728	$	28,509
Contract asset, net (Note 4)		30,685		23,972
Cost to fulfill (Note 4)		10,830		10,688
Unbilled receivables, net (Note 4)		6,373		6,462
Upfront payments to customers		10,501		6,330
Other		25,023		10,069
Total other non-current assets, net	$	114,140	$	86,030

Nonrefundable deposits are primarily related to deposits for planned land purchases in Pennsylvania and Ireland.

Upfront payments to customers consist of amounts the Company has paid in relation to two natural gas sales contracts with customers to construct fuel-delivery infrastructure that the customers will own.

Other includes issuance costs associated with the 2026 Notes and Revolving Facility (both defined below) that closed in April 2021, upfront payments to our service providers, a long-term refundable deposit and investments in equity securities. During the fourth quarter of 2020, the Company invested $1,000 in a hydrogen technology development company through a Simple Agreement for Future Equity (“SAFE”). During the first quarter of 2021, the investee completed a qualified financing which converted the Company’s investment into preferred shares; the Company also invested an additional $750 in this qualified financing.

Share-based compensation

3 Months Ended

Mar. 31, 2021

Share-based compensation [Abstract]

Share-based compensation

19.

Share-based compensation

RSUs

The Company has granted RSUs to select officers, employees, non-employee members of the board of directors and select non-employees under the New Fortress Energy Inc. 2019 Omnibus Incentive Plan. The fair value of RSUs on the grant date is estimated based on the closing price of the underlying shares on the grant date and other fair value adjustments to account for a post-vesting holding period. These fair value adjustments were estimated based on the Finnerty model.

The following table summarizes the RSU activity for the three months ended March 31, 2021:

	Restricted Share Units			Weighted-average grant date fair value per share
Non-vested RSUs as of December 31, 2020		1,538,060		$	13.49
Granted		-			-
Vested		(665,781	)		13.54
Forfeited		(3,017	)		13.51
Non-vested RSUs as of March 31, 2021		869,262		$	13.45

The following table summarizes the share-based compensation expense for the Company’s RSUs recorded for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021		2020
Operations and maintenance	$	222	$	237
Selling, general and administrative		1,548		2,271
Total share-based compensation expense	$	1,770	$	2,508

For the three months ended March 31, 2021 and 2020, cumulative compensation expense recognized for forfeited RSU awards of $0 and $61, respectively, was reversed. The Company recognizes the income tax benefits resulting from vesting of RSUs in the period of vesting, to the extent the compensation expense has been recognized.

As of March 31, 2021, the Company had 869,262 non-vested RSUs subject to service conditions and had unrecognized compensation costs of approximately $6,400. The non-vested RSUs will vest over a period from ten months to three years following the grant date. The weighted-average remaining vesting period of non-vested RSUs totaled 1.05 years as of March 31, 2021.

Performance Share Units (“PSUs”)

PSUs Granted	Units Granted	Range of Vesting	Unrecognized Compensation Cost⁽¹⁾		Weighted Average Remaining Vesting Period
Q1 2020	1,109,777	0 to 2,219,554	$	30,864	0.75 years
Q1 2021	400,507	0 to 801,014	$	32,577	1.75 years

(1) Unrecognized compensation cost is based upon the maximum amount of shares that could vest

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Operating revenue	$ 91,196	$ 63,502
Other revenue	54,488	11,028
Total revenues	145,684	74,530
Operating expenses
Cost of sales	96,671	68,216
Operations and maintenance	16,252	8,483
Selling, general and administrative	45,181	28,538
Contract termination charges and loss on mitigation sales	0	208
Depreciation and amortization	9,890	5,254
Total operating expenses	167,994	110,699
Operating loss	(22,310)	(36,169)
Interest expense	18,680	13,890
Other (income) expense, net	(604)	611
Loss on extinguishment of debt, net	0	9,557
Loss before taxes	(40,386)	(60,227)
Tax benefit	(877)	(4)
Net loss	(39,509)	(60,223)
Net loss attributable to non-controlling interest	1,606	51,757
Net loss attributable to stockholders	$ (37,903)	$ (8,466)
Net loss per share - basic (in dollars per share)	$ (0.21)	$ (0.32)
Net loss per share - diluted (in dollars per share)	$ (0.21)	$ (0.32)
Weighted average number of shares outstanding - basic (in shares)	176,500,576	26,029,492
Weighted average number of shares outstanding - diluted (in shares)	176,500,576	26,029,492
Other comprehensive loss:
Net loss	$ (39,509)	$ (60,223)
Currency translation adjustment	997	369
Comprehensive loss	(40,506)	(60,592)
Comprehensive loss attributable to non-controlling interest	2,480	52,073
Comprehensive loss attributable to stockholders	$ (38,026)	$ (8,519)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended
Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Long-term Debt, Current and Noncurrent [Abstract]
Debt	$ 1,239,799	$ 1,239,561
Senior Secured Notes, due September 15, 2025 [Member]
Long-term Debt, Current and Noncurrent [Abstract]
Debt	$ 1,239,799	$ 1,239,561
Maturity date	Sep. 15, 2025

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Prepaid expenses and other current assets [Abstract]
Prepaid LNG	$ 20,605	$ 11,987
Prepaid expenses	6,806	4,941
Due from affiliates (Note 20)	1,912	1,881
Other current assets	30,922	29,461
Total prepaid expenses and other current assets, net	$ 60,245	$ 48,270

Related party transactions, Due to/from Affiliates (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Related party transactions [Abstract]
Amounts due to affiliates	$ 10,859	$ 8,980
Amounts due from affiliates	$ 1,912	$ 1,881

Organization

3 Months Ended

Mar. 31, 2021

Organization [Abstract]

Organization

New Fortress Energy Inc. (“NFE,” together with its subsidiaries, the “Company”) is a Delaware corporation formed by New Fortress Energy Holdings LLC (“New Fortress Energy Holdings”). The Company is a global integrated gas-to-power infrastructure company that seeks to use natural gas to satisfy the world’s large and growing power needs and is engaged in providing energy and development services to end-users worldwide seeking to convert their operating assets from diesel or heavy fuel oil to LNG. The Company currently sources LNG from a combination of its own liquefaction facility in Miami, Florida and purchases on the open market. The Company has liquefaction, regasification and power generation operations in the United States and Jamaica.

The Company manages, analyzes and reports on its business and results of operations on the basis of one operating segment. The chief operating decision maker makes resource allocation decisions and assesses performance based on financial information presented on a consolidated basis.

Leases, Components of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating lease cost [Abstract]
Fixed lease cost	$ 11,745	$ 10,267
Variable lease cost	693	639
Short-term lease cost	722	286
Lease cost - Cost of sales	11,036	9,351
Lease cost - Operations and maintenance	557	388
Lease cost - Selling, general and administrative	1,567	$ 1,453
Capitalized lease cost	$ 1,199

Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt [Abstract]

Long-term Debt

As of March 31, 2021 and December 31, 2020, debt consisted of the following:

	March 31, 2021		December 31, 2020
Senior Secured Notes, due September 15, 2025	$	1,239,799	$	1,239,561
Total debt	$	1,239,799	$	1,239,561

Interest Expense

	Three Months Ended March 31,
	2021		2020
Interest per contractual rates	$	20,834	$	18,874
Amortization of debt issuance costs		487		4,622
Total interest costs		21,321		23,496
Capitalized interest		2,641		9,606
Total interest expense	$	18,680	$	13,890

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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+ Details

Fair value (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Dec. 31, 2020

Assets [Abstract]

Restricted cash

$ 19,072

$ 27,814

Fair Value Adjustment and Currency Translation Adjustment [Abstract]

Fair value adjustment - (Gain)

(425)

$ (1,617)

Currency translation adjustment - (Gain)

(1,664)

$ (537)

Asset acquisition

10,520

2025 Notes [Member]

Fair Value Adjustment and Currency Translation Adjustment [Abstract]

Fair value of notes

1,285,588

Market Approach [Member]

Assets [Abstract]

Cash and cash equivalents

360,130

601,522

Restricted cash

19,072

27,814

Investment in equity securities

2,143

1,256

Total

381,345

630,592

Income Approach [Member]

Liabilities [Abstract]

Derivative liability

^[1]

20,692

10,716

Equity agreement

^[2]

21,223

22,768

Total

41,915

33,484

Level 1 [Member] | Market Approach [Member]

Assets [Abstract]

Cash and cash equivalents

360,130

601,522

Restricted cash

19,072

27,814

Investment in equity securities

294

256

Total

379,496

629,592

Level 1 [Member] | Income Approach [Member]

Liabilities [Abstract]

Derivative liability

^[1]

Equity agreement

^[2]

Total

Level 2 [Member] | Market Approach [Member]

Assets [Abstract]

Cash and cash equivalents

Restricted cash

Investment in equity securities

Total

Level 2 [Member] | Income Approach [Member]

Liabilities [Abstract]

Derivative liability

^[1]

Equity agreement

^[2]

Total

Level 3 [Member] | Market Approach [Member]

Assets [Abstract]

Cash and cash equivalents

Restricted cash

Investment in equity securities

1,849

1,000

Total

1,849

1,000

Level 3 [Member] | Income Approach [Member]

Liabilities [Abstract]

Derivative liability

^[1]

20,692

10,716

Equity agreement

^[2]

21,223

22,768

Total

$ 41,915

$ 33,484

[1]	Consideration due to the sellers in assets acquistions when certain contingent events occur.
[2]	To be paid at the earlier of agreed-upon date or the date on which the valid planning permission is received as specified in the amended Shannon LNG Agreement.

Fair value

3 Months Ended

Mar. 31, 2021

Fair value [Abstract]

Fair value

Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows:

•	Level 1 – observable inputs such as quoted prices in active markets for identical assets or liabilities.

•	Level 2 - inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs.

•	Level 3 - unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants price the asset or liability.

The valuation techniques that may be used to measure fair value are as follows:

•	Market approach – uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

•	Income approach – uses valuation techniques, such as the discounted cash flow technique, to convert future amounts to a single present amount based on current market expectations about those future amounts.

•	Cost approach – based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of March 31, 2021 and December 31, 2020:

	March 31, 2021
	Level 1		Level 2		Level 3		Total		Valuation technique
Assets
Cash and cash equivalents	$	360,130	$	-	$	-	$	360,130	Market approach
Restricted cash		19,072		-		-		19,072	Market approach
Investment in equity securities		294		-		1,849		2,143	Market approach
Total	$	379,496	$	-	$	1,849	$	381,345

Liabilities
Derivative liability¹	$	-	$	-	$	20,692	$	20,692	Income approach
Equity agreement²		-		-		21,223		21,223	Income approach
Total	$	-	$	-	$	41,915	$	41,915

	December 31, 2020
	Level 1		Level 2		Level 3		Total		Valuation technique
Assets
Cash and cash equivalents	$	601,522	$	-	$	-	$	601,522	Market approach
Restricted cash		27,814		-		-		27,814	Market approach
Investment in equity securities		256		-		1,000		1,256	Market approach
Total	$	629,592	$	-	$	1,000	$	630,592

Liabilities
Derivative liability¹	$	-	$	-	$	10,716	$	10,716	Income approach
Equity agreement²		-		-		22,768		22,768	Income approach
Total	$	-	$	-	$	33,484	$	33,484

⁽¹⁾	Consideration due to the sellers in assets acquistions when certain contingent events occur.

⁽²⁾	To be paid at the earlier of agreed-upon date or the date on which the valid planning permission is received as specified in the amended Shannon LNG Agreement.

The Company estimates fair value of the derivative liability and equity agreement using a discounted cash flows method with discount rates based on the average yield curve for bonds with similar credit ratings and matching terms to the discount periods as well as a probability of the contingent event occurring. The table below summarizes the fair value adjustment to the derivative liability and equity agreement, recorded within Other (income) expense, net in the condensed consolidated statements of operations and comprehensive loss, and currency translation adjustment, recorded within the Other comprehensive loss, for the three months ended March 31, 2021 and 2020:

	March 31, 2021			March 31, 2020
Fair value adjustment - (Gain)	$	(425	)	$	(1,617	)
Currency translation adjustment - (Gain)		(1,664	)		(537	)

Activity during the three months ended March 31, 2021 included the recognition of additional derivative liabilities from transactions accounted for as asset acquisitions of $10,520 (Note 21. Asset acquisitions). During the three months ended March 31, 2021 and 2020, the Company had no settlements of the equity agreement or derivative liabilities or any transfers in or out of Level 3 in the fair value hierarchy.

The liability associated with the equity agreement of $21,223 and $22,768 as of March 31, 2021 and December 31, 2020, respectively, is recorded within Other current liabilities on the condensed consolidated balance sheets. The liability associated with the derivative liabilities of $20,692 and $10,716 as of March 31, 2021 and December 31, 2020, respectively, is recorded within Other long-term liabilities on the condensed consolidated balance sheets.

The Company estimates fair value of outstanding debt using quoted market prices. The fair value of the 2025 Notes (defined below in Note 15. Debt) was approximately $1,285,588 as of March 31, 2021. The fair value estimate is classified as Level 2 in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Significant accounting policies

3 Months Ended

Mar. 31, 2021

Significant accounting policies [Abstract]

Significant accounting policies

The principal accounting policies adopted are set out below.

(a)

Basis of presentation and principles of consolidation

(b)

Revenue recognition

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Related party transaction [Abstract]
Administrative and general expenses	$ 1,927	$ 2,231
Amount due to affiliates	10,859		$ 8,980
Charter costs	1,609	1,239
Lease liability	109,220
Amounts due from affiliates	1,912		1,881
Rent and administrative expenses	153
Rent and office related expenses incurred by affiliate	359		204
Noncurrent Lease Liabilities [Member]
Related party transaction [Abstract]
Lease liability	$ 3,288
DevTech Investment [Member]
Related party transaction [Abstract]
Minority interest percentage in exchange for cash consideration	10.00%
Percentage of note payable purchased by affiliate	10.00%
Note payable due	$ 715		715
Interest expense on note payable	21	19
Amounts due from affiliates	343		343
Fortress [Member]
Related party transaction [Abstract]
Amount due to affiliates	7,145		5,535
Fortress Affiliate [Member]
Related party transaction [Abstract]
Amount due to affiliates	554		472
Florida East Coast Industries [Member]
Related party transaction [Abstract]
Amount due to affiliates	0		316
Florida East Coast Industries [Member] \| Land [Member] \| Operations and Maintenance [Member]
Related party transaction [Abstract]
Lease expense	126	103
Fortress Affiliated Entities [Member]
Related party transaction [Abstract]
Amount due to affiliates	3,160		2,657
Amounts due from affiliates	1,210		$ 1,334
Rent and administrative expenses	$ 803	$ 1,165

Prepaid expenses and other current assets

3 Months Ended

Mar. 31, 2021

Prepaid expenses and other current assets [Abstract]

Prepaid expenses and other current assets

As of March 31, 2021 and December 31, 2020, prepaid expenses and other current assets consisted of the following:

	March 31, 2021		December 31, 2020
Prepaid LNG	$	20,605	$	11,987
Prepaid expenses		6,806		4,941
Due from affiliates (Note 20)		1,912		1,881
Other current assets		30,922		29,461
Total prepaid expenses and other current assets, net	$	60,245	$	48,270

Other current assets as of March 31, 2021 and December 31, 2020 primarily consists of receivables for recoverable taxes.

Adoption of new and revised standards

3 Months Ended

Mar. 31, 2021

Adoption of new and revised standards [Abstract]

Adoption of new and revised standards

(a)	New standards, amendments and interpretations issued but not effective for the financial year beginning January 1, 2021:

In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. ASU 2020-06 requires entities to provide expanded disclosures about the terms and features of convertible instruments and amends certain guidance in ASC 260 on the computation of EPS for convertible instruments and contracts on an entity’s own equity. ASU 2020-06 is effective for public companies for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption of all amendments in the same period permitted. The Company is currently assessing the impact of adoption of this guidance.

(b)	New and amended standards adopted by the Company:

In December 2019, FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes, including removing certain exceptions related to the general principles in ASU 740, Income Taxes. ASU 2019-12 also clarifies and simplifies other aspects of the accounting for income taxes. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
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+ Details

Property, plant and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property, Plant and Equipment, Net [Abstract]
Accumulated depreciation	$ (72,229)		$ (62,475)
Total property, plant and equipment, net	607,003		614,206
Depreciation	9,842	$ 5,211
Cost of Sales [Member]
Property, Plant and Equipment, Net [Abstract]
Depreciation	270	$ 227
Terminal and Power Plant Equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	189,197		188,855
CHP Facilities [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	119,723		119,723
Gas Terminals [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	120,810		120,810
ISO Containers and Other Equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	102,010		100,137
LNG Liquefaction Facilities [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	63,213		63,213
Gas Pipelines [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	58,974		58,974
Land [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	16,582		16,246
Leasehold Improvements [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 8,723		$ 8,723

Accrued liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Accrued liabilities [Abstract]

Accrued Liabilities

As of March 31, 2021 and December 31, 2020, accrued liabilities consisted of the following:

	March 31, 2021		December 31, 2020
Accrued development costs	$	25,222	$	16,631
Accrued interest		3,516		27,938
Accrued bonuses		6,171		17,344
Other accrued expenses		53,900		28,439
Total accrued liabilities	$	88,809	$	90,352

Leases, Lessee Operating Lease Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental cash flow information related to leases [Abstract]
Operating cash outflows for operating lease liabilities	$ 12,660	$ 10,096
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 127,994

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (39,509)	$ (60,223)
Adjustments for:
Amortization of deferred financing costs	400	3,353
Depreciation and amortization	10,160	5,481
Loss on extinguishment and financing expenses	0	9,557
Deferred taxes	(1,412)	(18)
Share-based compensation	1,770	2,508
Other	393	2,656
Changes in operating assets and liabilities:
(Increase) Decrease in receivables	(19,223)	5,752
(Increase) Decrease in inventories	(5,171)	34,830
(Increase) in other assets	(36,943)	(54,080)
Decrease in right-of-use assets	9,772	9,263
(Decrease) Increase in accounts payable/accrued liabilities	(22,399)	2,132
Increase (Decrease) in amounts due to affiliates	1,879	(2,875)
(Decrease) in lease liabilities	(10,584)	(9,170)
(Decrease) in other liabilities	(1,119)	(477)
Net cash used in operating activities	(111,986)	(51,311)
Cash flows from investing activities
Capital expenditures	(80,810)	(56,098)
Entities acquired in asset acquisitions, net of cash acquired	(8,817)	0
Other investing activities	(630)	50
Net cash used in investing activities	(90,257)	(56,048)
Cash flows from financing activities
Proceeds from borrowings of debt	0	832,144
Payment of deferred financing costs	(670)	(14,069)
Repayment of debt	0	(506,402)
Payments related to tax withholdings for share-based compensation	(29,564)	(6,084)
Payment of dividends	(17,657)	0
Net cash (used in) provided by financing activities	(47,891)	305,589
Net (decrease) increase in cash, cash equivalents and restricted cash	(250,134)	198,230
Cash, cash equivalents and restricted cash - beginning of period	629,336	93,035
Cash, cash equivalents and restricted cash - end of period	379,202	291,265
Supplemental disclosure of non-cash investing and financing activities:
Changes in accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions	26,311	13,359
Liabilities associated with consideration paid for entities acquired in asset acquisitions	$ 11,845	$ 0

Debt, 2025 Senior Secured Notes (Details) - 2025 Senior Secured Notes [Member] - USD ($) $ in Thousands		3 Months Ended
	Dec. 17, 2020	Mar. 31, 2021	Sep. 30, 2020	Sep. 02, 2020
Senior Secured Notes [Abstract]
Debt instrument, issued	$ 250,000			$ 1,000,000
Fixed interest rate				6.75%
Frequency of payments		semi-annually
Maturity date		Sep. 15, 2025
Fees incurred				$ 17,937
Reduction in principal balance		$ 13,909
Remaining unamortized deferred financing costs		$ 10,201		$ 6,501
Third party fees			$ 4,028
Proceeds from premium on issuance of secured debt	13,125
Additional financing costs incurred	$ 4,436

Subsequent events

3 Months Ended

Mar. 31, 2021

Subsequent events [Abstract]

Subsequent events

22.

Subsequent events

On April 12, 2021, the Company completed the private offering of $1.5 billion aggregate principal amount of senior secured notes due 2026 (the “2026 Notes”). The 2026 Notes bear interest at 6.50% per annum and were issued at an issue price equal to 100% of principal. The 2026 Notes are guaranteed on a senior secured basis by each domestic subsidiary and foreign subsidiary that is a guarantor under the existing 2025 Notes, and the 2026 Notes are secured by substantially the same collateral as the Company’s existing first lien obligations under the 2025 Notes. The Company used the net proceeds from this offering to fund the cash consideration for the GMLP Merger and pay related fees and expenses.

On April 15, 2021, the Company completed the previously announced acquisitions of Hygo Energy Transition Ltd. (“Hygo”) and Golar LNG Partners LP (“GMLP”); referred to as the “Hygo Merger” and “GMLP Merger,” respectively and, collectively, the “Mergers”. NFE paid $580 million in cash and issued 31,372,549 shares of Class A common stock to Hygo’s shareholders in connection with the Hygo Merger. NFE paid $3.55 per each common unit of GMLP outstanding and for each of the outstanding membership interests of GMLP’s general partner, totaling $251 million. The Company also repaid certain outstanding debt facilities of GMLP in conjunction with closing the GMLP Merger.

These transactions will be accounted for as business combinations under the acquisition method of accounting. The Company will record the assets acquired and liabilities assumed at their fair values as of the acquisition date. Due to the limited time since the closing of the acquisitions, the valuation efforts and related acquisition accounting are incomplete at the time of filing of the condensed consolidated financial statements.

On April 15, 2021, we entered into a $200 million senior secured revolving facility (the “Revolving Facility”). The Revolving Facility has a term of approximately five years and bears interest based on the three-month LIBOR rate plus certain margins.

Earnings per share

3 Months Ended

Mar. 31, 2021

Earnings per share [Abstract]

Earnings per share

18.

Earnings per share

	Three Months Ended March 31,
	2021			2020
Numerator:
Net loss	$	(39,509	)	$	(60,223	)
Less: net loss attributable to non-controlling interests		1,606			51,757
Net loss attributable to Class A common stock	$	(37,903	)	$	(8,466	)
Denominator:
Weighted-average shares-basic and diluted		176,500,576			26,029,492

Net loss per share - basic and diluted	$	(0.21	)	$	(0.32	)

The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because its effects would have been anti-dilutive.

	Three Months Ended March 31,
	2021		2020
Unvested RSUs¹		869,262		1,890,125
Class B shares²		-		144,342,572
Shannon Equity Agreement shares³		464,267		1,635,462
Total		1,333,529		147,868,159

¹	Represents the number of instruments outstanding at the end of the period.

²	Class B shares at the end of the period are considered potentially dilutive Class A shares. In connection with the closing of the Exchange Transactions on June 10, 2020, all outstanding Class B shares were exchanged for Class A shares.

³	Class A common stock that would be issued in relation to the Shannon LNG Equity Agreement.

The Company declared dividends of $17,598 ($0.10 per share); during the first quarter of 2021, the Company paid $17,657 of dividends, inclusive of dividends that were accrued in prior periods.

Intangible assets (Details) - USD ($) $ in Thousands			3 Months Ended		12 Months Ended
Intangible assets (Details) - USD ($) $ in Thousands	Mar. 11, 2021	Jan. 12, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Intangible Assets, Net [Abstract]
Definite-Lived Intangible Assets, Accumulated Amortization			$ 2,810		$ 2,628
Total Intangible Assets, Gross Carrying Amount			68,744		48,730
Total Intangible Assets, Net Carrying Amount			$ 65,934		$ 46,102
Weighted average remaining amortization period for intangible assets			31 years		37 years 6 months
Amortization expense			$ 295	$ 270
CH4 Energia Ltda. [Member]
Intangible Assets, Net [Abstract]
Asset acquisition		$ 4,245	5,776
Pecem Energia S.A. and Energetica Camacari Muricy II S.A. [Member]
Intangible Assets, Net [Abstract]
Asset acquisition	$ 16,585		16,585
Easements [Member]
Intangible Assets, Net [Abstract]
Indefinite-Lived Intangible Assets, Carrying Amount			1,219		$ 1,274
Permits [Member]
Intangible Assets, Net [Abstract]
Definite-Lived Intangible Assets, Gross Carrying Amount			49,467		45,897
Definite-Lived Intangible Assets, Accumulated Amortization			2,607		2,438
Definite-Lived Intangible Assets, Net Carrying Amount			$ 46,860		$ 43,459
Definite-Lived Intangible Assets, Weighted Average Life			38 years		40 years
Acquired Power Purchase Agreements [Member]
Intangible Assets, Net [Abstract]
Definite-Lived Intangible Assets, Gross Carrying Amount			$ 16,499
Definite-Lived Intangible Assets, Accumulated Amortization			0
Definite-Lived Intangible Assets, Net Carrying Amount			$ 16,499
Definite-Lived Intangible Assets, Weighted Average Life			17 years
Easements [Member]
Intangible Assets, Net [Abstract]
Definite-Lived Intangible Assets, Gross Carrying Amount			$ 1,559		$ 1,559
Definite-Lived Intangible Assets, Accumulated Amortization			203		190
Definite-Lived Intangible Assets, Net Carrying Amount			$ 1,356		$ 1,369
Definite-Lived Intangible Assets, Weighted Average Life			30 years		30 years

Other non-current assets (Details) $ in Thousands	3 Months Ended
Other non-current assets (Details) $ in Thousands	Mar. 31, 2021 USD ($) SalesContract	Dec. 31, 2020 USD ($)
Other non-current assets [Abstract]
Nonrefundable deposit	$ 30,728	$ 28,509
Contract asset, net (Note 4)	30,685	23,972
Cost to fulfill (Note 4)	10,830	10,688
Unbilled receivables, net (Note 4)	6,373	6,462
Upfront payments to customers	10,501	6,330
Other	25,023	10,069
Total other non-current assets, net	$ 114,140	86,030
Number of sales contracts \| SalesContract	2
SAFE [Member]
Other Assets, Noncurrent [Abstract]
Investment in equity securities	$ 750	$ 1,000

Related party transactions (Tables)

3 Months Ended

Mar. 31, 2021

Due to/from Affiliates

The table below summarizes the balances outstanding with affiliates as of March 31, 2021 and December 31, 2020:

	March 31, 2021		December 31, 2020
Amounts due to affiliates	$	10,859	$	8,980
Amounts due from affiliates		1,912		1,881

Income taxes (Details) - USD ($) $ in Thousands		3 Months Ended
Income taxes (Details) - USD ($) $ in Thousands	Jun. 10, 2020	Mar. 31, 2021	Mar. 31, 2020
Loss before Income Taxes [Abstract]
Percentage of NFI operations included in income tax provision	100.00%
Effective tax rate		2.20%	0.01%
Tax expense (benefit)		$ (877)	$ (4)
Income tax expense (benefit), discrete (benefit)		$ (3,010)
Statutory tax rate		21.00%	21.00%
Uncertain tax positions		$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Organization (Details)	3 Months Ended
Organization (Details)	Mar. 31, 2021 Segment
Organization [Abstract]
Number of operating segments	1

Earnings per share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Numerator [Abstract]

Net loss

$ (39,509)

$ (60,223)

Less: net loss attributable to non-controlling interests

1,606

51,757

Net loss attributable to stockholders

$ (37,903)

$ (8,466)

Denominator [Abstract]

Weighted-average shares-basic (in shares)

176,500,576

26,029,492

Weighted-average shares-diluted (in shares)

176,500,576

26,029,492

Net loss per share - basic (in dollars per share)

$ (0.21)

$ (0.32)

Net loss per share - diluted (in dollars per share)

$ (0.21)

$ (0.32)

Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]

Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)

1,333,529

147,868,159

Dividend [Abstract]

Dividend declared

$ 17,598

Dividend per share (in dollars per share)

$ 0.10

Dividend paid

$ 17,657

$ 0

Class B Shares [Member]

Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]

Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)

^[1]

144,342,572

Unvested RSUs [Member]

Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]

Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)

^[2]

869,262

1,890,125

Shannon Equity Agreement Shares [Member]

Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]

Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)

^[3]

464,267

1,635,462

[1]	Class B shares at the end of the period are considered potentially dilutive Class A shares. In connection with the closing of the Exchange Transactions on June 10, 2020, all outstanding Class B shares were exchanged for Class A shares.
[2]	Represents the number of instruments outstanding at the end of the period.
[3]	Class A common stock that would be issued in relation to the Shannon LNG Equity Agreement.

Intangible assets

3 Months Ended

Mar. 31, 2021

Intangible assets [Abstract]

Intangible assets

12.

Intangible assets

The following table summarizes the composition of intangible assets as of March 31, 2021 and December 31, 2020:

	March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Life
Definite-lived intangible assets
Permits	$	49,467	$	2,607	$	46,860		38
Acquired power purchase agreements		16,499		-		16,499		17
Easements		1,559		203		1,356		30

Indefinite-lived intangible assets
Easements		1,219		-		1,219		n/a
Total intangible assets	$	68,744	$	2,810	$	65,934

	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Life
Definite-lived intangible assets
Permits	$	45,897	$	2,438	$	43,459		40
Easements		1,559		190		1,369		30

Indefinite-lived intangible assets
Easements		1,274		-		1,274		n/a
Total intangible assets	$	48,730	$	2,628	$	46,102

During the first quarter of 2021, the Company recognized additions to permits of $5,776 acquired in a transaction accounted for as asset acquisition related to licenses and rights to develop a gas-fired power plant and associated infrastructure in the Port of Suape in Brazil. The Company also acquired rights operated a power generation facility and sell power in Brazil of $16,585 (see Note 21. Asset acquisitions).

As of March 31, 2021 and December 31, 2020, the weighted-average remaining amortization periods for the intangible assets were 31.0 and 37.5 years, respectively. Amortization expense for the three months ended March 31, 2021 and 2020 totaled $295 and $270, respectively.

Fair value (Tables)

3 Months Ended

Mar. 31, 2021

Fair value [Abstract]

Financial Assets and Financial Liabilities

The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of March 31, 2021 and December 31, 2020:

	March 31, 2021
	Level 1		Level 2		Level 3		Total		Valuation technique
Assets
Cash and cash equivalents	$	360,130	$	-	$	-	$	360,130	Market approach
Restricted cash		19,072		-		-		19,072	Market approach
Investment in equity securities		294		-		1,849		2,143	Market approach
Total	$	379,496	$	-	$	1,849	$	381,345

Liabilities
Derivative liability¹	$	-	$	-	$	20,692	$	20,692	Income approach
Equity agreement²		-		-		21,223		21,223	Income approach
Total	$	-	$	-	$	41,915	$	41,915

	December 31, 2020
	Level 1		Level 2		Level 3		Total		Valuation technique
Assets
Cash and cash equivalents	$	601,522	$	-	$	-	$	601,522	Market approach
Restricted cash		27,814		-		-		27,814	Market approach
Investment in equity securities		256		-		1,000		1,256	Market approach
Total	$	629,592	$	-	$	1,000	$	630,592

Liabilities
Derivative liability¹	$	-	$	-	$	10,716	$	10,716	Income approach
Equity agreement²		-		-		22,768		22,768	Income approach
Total	$	-	$	-	$	33,484	$	33,484

⁽¹⁾	Consideration due to the sellers in assets acquistions when certain contingent events occur.

⁽²⁾	To be paid at the earlier of agreed-upon date or the date on which the valid planning permission is received as specified in the amended Shannon LNG Agreement.

Fair Value and Currency Translation Adjustment

	March 31, 2021			March 31, 2020
Fair value adjustment - (Gain)	$	(425	)	$	(1,617	)
Currency translation adjustment - (Gain)		(1,664	)		(537	)

Construction in progress (Tables)

3 Months Ended

Mar. 31, 2021

Construction in progress [Abstract]

Construction in Progress Activity

The Company’s construction in progress activity during the three months ended March 31, 2021 is detailed below:

	March 31, 2021
Balance at beginning of period	$	234,037
Additions		105,761
Transferred to property, plant and equipment, net or finance leases		(2,107	)
Balance at end of period	$	337,691