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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="vertical-align: top; width: 18pt;"><div><font style="font-weight: bold; color: rgb(0, 0, 0);">14.</font></div></td><td style="align: left; vertical-align: top; width: auto;"><div><font style="font-weight: bold; color: rgb(0, 0, 0);">Accrued liabilities</font></div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018 accrued liabilities consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued construction costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>16,870</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>41,343</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued IPO costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,296</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued vessel charter costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,160</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued bonuses</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,582</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other accrued expenses</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>12,442</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>8,291</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,072</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>67,512</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table></div>
28530000
43987000
12582000
10600000
42072000
67512000
12970000
9391000
-11000
0
P39Y7M17D
27679000
8971000
8711000
329000
28008000
260000
0
257000
543000
274000
2589000
339000
339000
165000
3166000
5230000
1432208
3959725
152450757
147058824
260872000
0
0
260872000
0
0
104509000
104509000
699402000
1056877000
153780000
319424000
3667000
3667000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The Company has invested in equity securities of an international oil and gas drilling contractor. The following tables present the number of shares, cost and fair value of the investment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">(in thousands of U.S. dollars except shares)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Number of Shares</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Cost</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Fair value</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>295,256</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,667</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,854</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">(in thousands of U.S. dollars except shares)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Number of Shares</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Cost</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Fair value</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,476,280</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,667</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,656</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split.</div></td></tr></table></div>
2854000
3656000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="vertical-align: top; width: 18pt;"><div><font style="color: rgb(0, 0, 0);">(a)</font></div></td><td style="align: left; vertical-align: top; width: auto;"><div><font style="color: rgb(0, 0, 0);">Basis of presentation and principles of consolidation</font></div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The condensed consolidated financial statements were prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements contained herein 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.</div><div><br /></div><div style="margin-left: 18pt;">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 the Company, which is equal to the number of NFI LLC Units held by New Fortress Energy Holdings immediately following the IPO. New Fortress Energy Holdings holds a significant interest in NFE through its ownership of 147,058,824 Class B shares, representing a 88.0% voting and non-economic interest. New Fortress Energy Holdings also has an 88.0% economic interest in NFI through its ownership of 147,058,824 of NFI LLC Units. New Fortress Energy Holdings has been determined to be NFE’s predecessor for accounting purposes.</div><div><br /></div><div style="margin-left: 18pt;">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 are 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.</div><div><br /></div><div style="margin-left: 18pt;">NFE is a holding company whose sole material asset is a controlling equity interest in NFI. As the sole managing member of NFI, NFE operates and controls all of the business and affairs of NFI, and through NFI and its subsidiaries, conducts 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. As a result, NFE presented the condensed consolidated balances sheets and statements of operations and comprehensive loss of New Fortress Energy Holdings for all periods prior to the IPO. The Company’s financial statements also include a non-controlling interest related to the portion of NFI LLC Units not owned by NFE. Prior to the IPO, NFE had no operations and had no assets or liabilities.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">12.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Finance leases, net</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The Company placed its storage and regasification LNG terminal in Montego Bay, Jamaica into service on October 30, 2016, which has been accounted for as a direct finance lease. In addition, the Company has also entered into other arrangements to lease equipment to customers which are accounted for as direct finance leases. The components of the direct finance leases as of June 30, 2019 and December 31, 2018 are as follows:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Finance leases</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>298,904</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>306,832</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unearned income</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(206,214</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(213,682</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total finance leases, net</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>92,690</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>93,150</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Current portion</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,025</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>943</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Non-current</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>91,665</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>92,207</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">Receivables related to the Company’s direct finance leases are primarily with a public utility that generates consistent cash flow. Therefore, the Company does not expect a material impact to the results of operations or financial position due to nonperformance from such counterparty.</div></div>
1025000
943000
92207000
91665000
3335000
200306000
78301000
0
0
200306000
0
0
78301000
118331000
100853000
258018000
81460000
78301000
200306000
157165000
-36871000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(d)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Legal and contingencies</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company may be involved in legal actions in the ordinary course of business, including governmental and administrative investigations, inquiries and proceedings concerning employment, labor, environmental and other claims. The Company will recognize a loss contingency in the condensed consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. The Company will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred. Gain contingencies are not recorded until they are realized.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">17.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Commitments and contingencies</div></td></tr></table><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Contingencies</div><div><br /></div><div style="text-indent: 18pt;">As of December 31, 2016, the Company had accrued for $1,204 of tangible personal property tax levied in the State of Florida with respect to the Company’s LNG plant in Hialeah, Florida. During 2017, the Company paid this amount in full and subsequently initiated legal proceedings to challenge the tax amount for a full or partial rebate. The Company successfully challenged the tax amount, including penalties, and received a full rebate. The State of Florida has appealed the determination and the Company repaid the rebate amount in order to avoid penalties and charges while the appeal is under consideration.</div><div><br /></div><div style="text-indent: 18pt;">As of the date at which these condensed consolidated financial statements were issued, the appeal has not been concluded. Should the State of Florida lose the appeal, the Company expects a full refund which will be recognized as a gain contingency recognized in earnings when the cash is received.</div></div>
67983095
500000000
67983095
147058824
20837272
0
0
147058824
20837272
0
0
0
111236000
-6186000
-19021000
-29005000
-19743000
-45047000
0
-91782000
0
-29005000
-51233000
-111525000
-19021000
254700000
324828000
16870000
41343000
973000
31562000
25766000
46531000
44043000
77392000
83725000
43940000
79114000
173013000
11000
P17Y
P15Y
0.040
0.005
0.010
0.010
500000000
500000000
0.1100
0.0825
4400000
2019-12-31
quarterly
Quaterly
Quaterly
6977000
1250000
379000
32000
44473000
20000
185000
214000
0
2110000
732000
3801000
1428000
1983000
3563000
1767000
305000
910000
339000
178000
147000
1767000
4106000
9835000
0
9937000
0
0
9835000
0
9937000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">19.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Share-based compensation</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">During the six months ended June 30, 2019, the Company granted RSUs to select officers, employees, non-employee members of the board of directors, and select non-employees under the Incentive Plan.</div><div><br /></div><div style="text-indent: 18pt;">The Company estimates the fair value of RSUs on the grant date 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.</div><div><br /></div><div style="text-indent: 18pt;">For the six months ended June 30, 2019, cumulative compensation expense recognized for forfeited awards of $56 was reversed.</div><div><br /></div><div style="text-indent: 18pt;">The following table summarizes the RSU activity for the six months ended June 30, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Restricted Stock</div><div style="text-align: center;">Units</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Weighted-</div><div style="text-align: center;">average grant</div><div style="text-align: center;">date fair value</div><div style="text-align: center;">per share</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-vested RSUs as of December 31, 2018</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Granted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,404,823</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>13.48</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Vested and shares issued</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,284,383</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>13.53</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Forfeited</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(160,715</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>13.51</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-vested RSUs as of June 30, 2019</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>3,959,725</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>13.46</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">During the six months ended June 30, 2019, the Company recognized a compensation expense of $28,008, of which $27,679 and $329 are recorded in Selling, general and administrative and Operations and maintenance, respectively. During the three months ended June 30, 2019, the Company recognized a compensation expense of $8,971, of which $8,711 and $260 are recorded in Selling, general and administrative and Operations and maintenance, respectively. The Company recognizes the income tax benefits resulting from vesting of RSUs in the period they vest, to the extent the compensation expense has been recognized.</div><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019, the Company had 3,959,725 non-vested RSUs subject to service conditions and therefore had unrecognized compensation costs of approximately $42,629. 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 1.53 years as of June 30, 2019.</div></div>
665000
365000
357000
525000
1022000
890000
0
622000
5707000
3579000
305000
597000
6329000
4481000
4481000
6329000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">18.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Earnings per share</div></td></tr></table><div> </div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Three Months Ended</div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Six Months Ended</div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Numerator:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(51,233</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(111,525</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Less: net loss attributable to non-controlling interests</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>45,047</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>91,782</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss attributable to Class A shares</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>(6,186</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>(19,743</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Denominator:</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Weighted-average shares - basic and diluted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>22,114,002</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>18,154,939</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss per share - basic and diluted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>(0.28</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>(1.09</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">In connection with the IPO, New Fortress Energy Holdings, the Company’s predecessor, effected a one-for-2.16 stock split of its issued and outstanding common shares, resulting in 147,058,824 common shares. Upon the reorganization, New Fortress Energy Holdings obtained the same number of Class B shares in NFE. Class B shares do not share in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted net loss per share for Class B shares under the two-class method has not been presented.</div><div><br /></div><div style="text-indent: 18pt;">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.</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unvested RSUs<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,959,725</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Class B shares<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>147,058,824</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon Equity Agreement shares<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>1,432,208</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>152,450,757</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>Represents the number of instruments outstanding at the end of the period.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(2)</td><td style="width: auto; vertical-align: top;"><div>Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(3)</td><td style="width: auto; vertical-align: top;"><div>Class A shares that would be issued in relation to the Shannon LNG Equity agreement.</div></td></tr></table></div>
-1.09
-0.28
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(h)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Net loss per share</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">Basic EPS is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization. Class B shares represent non-economic interests in the Company and, as such, earnings are not allocated to Class B shares.</div><div><br /></div><div style="margin-left: 18pt;">Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization increased by the number of additional Class A shares that would have been outstanding, including NFI LLC Units convertible into Class A shares and unvested RSUs. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share by application of the treasury stock method or if-converted method, as applicable. Refer to “Note 18. Earnings Per Share” for additional information.</div><div><br /></div><div style="margin-left: 18pt;">Please refer to “Note 2. Significant accounting policies,” to our consolidated financial statements from our Annual Report on Form 10-K for the discussion of our significant accounting policies.</div></div>
0.25
-0.0036
-0.0031
-0.0030
-0.0151
42629000
P1Y6M11D
19010000
15611000
0
0
0
3656000
0
2854000
3656000
2854000
16667000
0
0
0
16924000
16667000
16924000
0
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">5.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Fair value</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>Level 1 – observable inputs such as quoted prices in active markets for identical assets or liabilities.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>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.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>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.</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The valuation techniques that may be used to measure fair value are as follows:</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>Market approach – uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>Income approach – uses valuation techniques, such as discounted cash flow technique, to convert future amounts to a single present amount based on current market expectations about those future amounts.</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">•</td><td style="width: auto; vertical-align: top;"><div>Cost approach – based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of June 30, 2019:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="16" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 1</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 2</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 3</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Total</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; width: 17%;"><div><div style="text-align: center;">Valuation technique</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Assets</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>200,306</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>200,306</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>57,712</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>57,712</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>260,872</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>260,872</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr><tr><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 2%;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255); width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Liabilities</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; background-color: rgb(255, 255, 255);"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Derivative liability<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,937</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,937</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Equity agreement<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,667</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,667</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,604</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,604</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 4px; background-color: rgb(204, 238, 255); text-align: center;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>Consideration due to the sellers of Shannon LNG (as defined in “Note 11. Intangible Assets” below) once first gas is supplied from the terminal to be built.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(2)</td><td style="width: auto; vertical-align: top;"><div>To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement.</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of December 31, 2018:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="16" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 1</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 2</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 3</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Total</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 17%;"><div style="font-weight: bold;"><div style="text-align: center;">Valuation technique</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Assets</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>78,301</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>78,301</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>22,552</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>22,552</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>3,656</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>3,656</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>104,509</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>104,509</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr><tr><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 2%;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255); width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Liabilities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; background-color: rgb(255, 255, 255);"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Derivative liability</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,835</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,835</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Equity agreement</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,924</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,924</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,759</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,759</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">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 Company recorded a total loss/(gain) from fair value adjustment on the derivative liability and equity agreement of $478 and $(155) within Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2019, respectively. During the three and six months ended June 30, 2019, the Company had no settlements of the equity agreement or derivative liability or any transfers in or out of Level 3 in the fair value hierarchy.</div><div><br /></div><div style="text-indent: 18pt;">The Company estimates fair value of outstanding debt using a discounted cash flow method based on current market interest rates for debt issuances with similar remaining years to maturity and adjusted for credit risk. The Company has estimated that the carrying value of the New Term Loan Facility (defined below) approximates fair value. The fair value estimate is classified as Level 3 in the fair value hierarchy.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of June 30, 2019:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="16" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 1</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 2</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Level 3</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Total</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; width: 17%;"><div><div style="text-align: center;">Valuation technique</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Assets</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>200,306</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>200,306</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>57,712</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>57,712</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>260,872</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>260,872</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr><tr><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 2%;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255); width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Liabilities</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; background-color: rgb(255, 255, 255);"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Derivative liability<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,937</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,937</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Equity agreement<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,667</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,667</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,604</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &amp; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,604</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 4px; background-color: rgb(204, 238, 255); text-align: center;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>Consideration due to the sellers of Shannon LNG (as defined in “Note 11. Intangible Assets” below) once first gas is supplied from the terminal to be built.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(2)</td><td style="width: auto; vertical-align: top;"><div>To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement.</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of December 31, 2018:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="16" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 34%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 1</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 2</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Level 3</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Total</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 17%;"><div style="font-weight: bold;"><div style="text-align: center;">Valuation technique</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Assets</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Cash and cash equivalents</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>78,301</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>78,301</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>22,552</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>22,552</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>3,656</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>3,656</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Market approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>104,509</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>104,509</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr><tr><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 2%;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: center; background-color: rgb(204, 238, 255); width: 17%;"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Liabilities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: center; width: 17%; background-color: rgb(255, 255, 255);"><br /></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Derivative liability</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,835</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,835</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; background-color: rgb(204, 238, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Equity agreement</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,924</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>16,924</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-align: center;">Income approach</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>—</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,759</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>26,759</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 2%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 17%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td></tr></table></div>
42685000
43191000
42685000
43191000
43057000
42008000
43057000
42008000
677000
677000
134000
134000
P91Y
P40Y
P40Y
P91Y
-18545000
-29645000
-111124000
-51078000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">16.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Income taxes</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">In connection with the IPO, NFE contributed the net proceeds from the IPO to NFI in exchange for NFI LLC Units, and NFE became the managing member of NFI. NFI is a limited liability company that is 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 is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by NFI is passed through to and included in the taxable income or loss of its members, including NFE, on a pro rata basis, subject to applicable tax regulations. 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.</div><div><br /></div><div style="text-indent: 18pt;">In connection with the IPO, NFE recorded a deferred tax asset related to the differential between its outside basis in its investment in NFI and NFE’s share of the basis of the assets of NFI, which was $44,473 at February 4, 2019.</div><div><br /></div><div style="text-indent: 18pt;">The Company records a valuation allowance against its deferred tax assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. As of June 30, 2019, the Company concluded, based on the weight of all available positive and negative evidence, those deferred tax assets recorded as part of the IPO are not more likely than not to be realized and accordingly, a full valuation allowance has been recorded on this deferred tax asset as of June 30, 2019.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Jamaica</div><div><br /></div><div style="text-indent: 18pt;">NFI’s subsidiaries incorporated in Jamaica are subject to income tax which is computed at 25% of the relevant subsidiaries’ results for the year, adjusted for tax purposes.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Bermuda</div><div><br /></div><div style="text-indent: 18pt;">NFI has subsidiaries incorporated in Bermuda. Under current Bermuda law, the Company is not required to pay taxes in Bermuda on either income or capital gains. The Company has received an undertaking from the Bermuda government that, in the event of income or capital gain taxes being imposed, it will be exempted from such taxes until 2035.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Ireland</div><div><br /></div><div style="text-indent: 18pt;">NFI acquired Shannon LNG on November 9, 2018. The Shannon LNG entities are incorporated in Ireland and had net operating loss carryforwards of approximately $41,395 as of the acquisition date. These losses were evaluated to determine if any would be subject to a limitation resulting from the acquisition. The Company concluded, based on the weight of all available positive and negative evidence, those deferred tax assets relating to the net operating loss carryforwards are not more likely than not to be realized and accordingly, a full valuation allowance has been recorded on these deferred tax assets as of June 30, 2019.</div><div><br /></div><div style="text-indent: 18pt; font-style: italic;">Puerto Rico</div><div><br /></div><div style="text-indent: 18pt;">NFI has a subsidiary, NFEnergia LLC (NFEnergia) incorporated in Puerto Rico. NFEnergia is treated as a controlled foreign coporation for U.S. federal income tax purposes. The entity has not yet begun operations in Puerto Rico and has been in a loss position since it was organized in 2017. A full valuation allowance has been recorded against deferred tax assets related to those losses as of June 30, 2019.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Total Operations</div><div><br /></div><div style="text-indent: 18pt;">The effective tax rate for the three months ended June 30, 2019 and June 30, 2018 was (0.30)% and (1.51)%, respectively. The total tax expense for the three months ended June 30, 2019 and 2018 was $155 and $280, respectively.</div><div><br /></div><div style="text-indent: 18pt;">The effective tax rate for the six months ended June 30, 2019 and June 30, 2018 was (0.36)% and (0.31)%, respectively. The total tax expense for the six months ended June 30, 2019 and 2018 was $401 and $93, respectively.</div><div><br /></div><div style="text-indent: 18pt;">The Company has not recorded a liability for uncertain tax positions as of June 30, 2019. The Company remains subject to periodic audits and reviews by the taxing authorities, and NFE’s returns since its formation remain open for examination.</div></div>
280000
401000
155000
93000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(g)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Income taxes</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In conjunction with the closing of the Company’s IPO, 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. NFE has elected to be taxed as a corporation and is subject to U.S. federal and state income taxes.</div><div><br /></div><div style="margin-left: 18pt;">The Company accounts for income taxes in accordance with ASC 740, <font style="font-style: italic;">“Accounting for Income Taxes”</font> (“ASC 740”), which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and liabilities by applying the enacted tax rates in effect for the year in which the differences are expected to reverse. Such net tax effects on temporary differences are reflected on the Company’s condensed consolidated balance sheets as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when the Company believes that it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.</div><div style="margin-left: 18pt;"><br /></div><div style="margin-left: 18pt;">ASC 740 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense.</div></div>
0
-802000
4863000
2553000
-1051000
1848000
6865000
-6412000
3664000
5841000
4680000
585000
5268000
15211000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">11.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Intangible assets</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">On November 9, 2018, the Company entered into an agreement to acquire the entire issued share capital of Shannon LNG Limited and Shannon LNG Energy Limited (together, “Shannon LNG”). Shannon LNG was previously formed to construct and operate a terminal, pipeline and related infrastructure in order to deliver natural gas to downstream customers in Ireland. In connection with the acquisition, the Company recognized intangible assets related to favorable lease agreements and permits.</div><div><br /></div><div style="text-indent: 18pt;">The following table summarizes the composition of intangible assets as of June 30, 2019 and December 31, 2018:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">June 30, 2019</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Gross Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Accumulated</div><div style="text-align: center;">Amortization</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Net Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 9%;"><div style="font-weight: bold;"><div style="text-align: center;">Useful Life</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon LNG leases and permits</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>42,685</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>677</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>42,008</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: right;">40 to 91</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total intangible assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,685</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>677</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,008</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr></table><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Gross Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Accumulated</div><div style="text-align: center;">Amortization</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Net Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 9%;"><div style="font-weight: bold;"><div style="text-align: center;">Useful Life</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon LNG leases and permits</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>43,191</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>134</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>43,057</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: right;">40 to 91</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total intangible assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>43,191</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>134</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>43,057</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019, the weighted-average remaining amortization periods for the intangible assets is 39.63 years. Amortization for the three and six months ended June 30, 2019 totaled $274 and $543, respectively.</div></div>
24000
46000
0
9111000
1603000
6199000
3206000
9483000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">7.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Inventory</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, inventory consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">LNG and natural gas inventory</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>19,010</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,611</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Materials, supplies and other</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>613</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>348</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>19,623</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>15,959</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">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 and six months ended June 30, 2019 and 2018, respectively.</div></div>
15959000
19623000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(c)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Investment in equity securities</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company holds an investment in equity securities. The investment is carried at fair value with gains or losses recorded in earnings in Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss. See “Note 8. Investment in equity securities” for more information.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">8.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Investment in equity securities</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The Company has invested in equity securities of an international oil and gas drilling contractor. The following tables present the number of shares, cost and fair value of the investment:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">(in thousands of U.S. dollars except shares)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Number of Shares</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Cost</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Fair value</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>295,256</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,667</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,854</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">(in thousands of U.S. dollars except shares)</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Number of Shares</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Cost</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &amp; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Fair value</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &amp; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Investment in equity securities</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,476,280</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,667</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,656</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split.</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The movement of the equity investment during the six months ended June 30, 2019 is summarized below:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Beginning of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,656</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unrealized gain/(loss)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(802</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">End of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">The unrealized loss of $1,698 and $802 for the three and six months ended June 30, 2019, respectively is included within Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">20.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Leases, as lessee</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">During the three months ended June 30, 2019 and 2018, the Company recognized rental expense for all operating leases of $8,939 and $6,810 respectively. During the six months ended June 30, 2019 and 2018, the Company recognized rental expense for all operating leases of $17,376 and $11,295 respectively related primarily to LNG vessel time charters, office space, a land site lease and marine port berth leases, as detailed in the table below.</div><div><br /></div><table align="center" border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td style="width: 35%; vertical-align: bottom;"><div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Lease</u></div></td><td style="width: 40%; vertical-align: bottom;"><div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Term</u></div></td><td style="width: 15%; vertical-align: bottom;"><div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"><u>Rent Escalation</u></div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: bottom;"> </td><td rowspan="1" style="width: 40%; vertical-align: bottom;"> </td><td rowspan="1" style="width: 15%; vertical-align: bottom;"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Land site lease¹</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">5 year initial term; 5 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">2.5% per annum</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Marine port berth lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">10 year initial term; annual renewal option for up to 10 years</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">15% after year 5</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Marine port berth lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">20 year initial term; no renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">24 month initial term; 3 month renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div>7 year initial term<font style="color: rgb(0, 0, 0);">; no renewal option</font></div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">2% per annum after year 3</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">15 year initial term; non-cancellable for the first 3 years; 5 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Office space lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div>7 year initial term<font style="color: rgb(0, 0, 0);">; two 5-year renewal options</font></div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">3% per annum</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Office space lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">1 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">5% per annum</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 27pt;"> </td><td style="width: 13.5pt; vertical-align: top; align: right; color: #000000;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Refer to “Note 21. Related party transactions” for additional detail.</div></td></tr></table></div>
P5Y
P0Y
P3M
P10Y
P5Y
P1Y
P5Y
P0Y
P24M
P10Y
P5Y
P20Y
P7Y
P15Y
P7Y
71000
149000
112000
0
223000
38000
74000
117000
758000
117000
0
0
71000
386000
0
26759000
0
0
26759000
26604000
0
26604000
416755000
589737000
1056877000
699402000
404755000
574402000
0
282647000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">15.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Debt</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, the Company’s current debt consisted of the New Term Loan Facility and the Term Loan Facility (as defined below) with balances of $490,523 and $272,192, respectively.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">New Term Loan Facility</div><div><br /></div><div style="text-indent: 18pt;">On August 16, 2018, the Company entered into a Term Loan Facility (the “Term Loan Facility”). On December 31, 2018, the Company amended its previous Term Loan Facility to borrow up to an aggregate principal amount of $500,000 (the “New Term Loan Facility”) from a syndicate of two lenders. The Company initially borrowed $280,000 under the New Term Loan Facility. On March 21, 2019, the Company drew an additional $220,000 under the New Term Loan Facility, bringing the Company’s total outstanding borrowings to $500,000 under the New Term Loan Facility.</div><div><br /></div><div style="text-indent: 18pt;">All borrowings under the New Term Loan Facility bear interest at a rate selected by the Company of either (i) the LIBOR divided by one minus the applicable reserve requirement plus a spread of 4.0% or (ii) subject to a floor of 1.0%, a Base Rate equal to the higher of (a) the Prime Rate, (b) the Federal Funds Rate plus 1⁄2 of 1.0% or (c) the 1-month LIBOR rate plus 1.0% plus a spread of 3.0%. The New Term Loan Facility is set to mature on December 31, 2019 and is repayable in quarterly installments of $1,250, with a balloon payment due at maturity. The Company has the option to extend the maturity date for two additional six-month periods; upon the exercise of each extension option, the spread on LIBOR and Base Rate increases by 0.5%. To exercise the extension option, the Company must pay a fee equal to 1.0% of the outstanding principal balance at the time of the exercise of the option.</div><div><br /></div><div style="text-indent: 18pt;">The New Term Loan Facility is secured by mortgages on certain properties owned by the Company’s subsidiaries, in addition to other collateral. The Company is required to comply with certain financial covenants and other restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens, acquisitions and investments, restricted payments and dispositions. The New Term Loan Facility also provides for customary events of default, prepayment and cure provisions.</div><div><br /></div><div style="text-indent: 18pt;">The Company paid $4,400 of additional fees in connection with the $220,000 draw on the New Term Loan Facility. These fees were capitalized as a reduction to the New Term Loan Facility on the condensed consolidated balance sheets. The total unamortized deferred financing costs as of June 30, 2019 was $6,977.</div><div><br /></div><div style="text-indent: 18pt;">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. Amortization of debt issuance costs were $3,166 and $165 for the three months ended June 30, 2019 and 2018, respectively, of which $1,558 and $0 were capitalized, respectively, and $5,230 and $339 for the six months ended June 30, 2019 and 2018, respectively, of which $2,641 and $0 were capitalized, respectively.</div></div>
613000
348000
268307000
14340000
426741000
387661000
0.1
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">1.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Organization</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">New Fortress Energy LLC (“NFE,” together with its subsidiaries, the “Company”) is a Delaware limited liability company formed by New Fortress Energy Holdings LLC (“New Fortress Energy Holdings”) on August 6, 2018. The Company is engaged in providing energy and logistical 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 and regasification operations in the United States and Jamaica.</div><div><br /></div><div style="text-indent: 18pt;">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 of the delivery of an integrated solution to our customers based on financial information presented on a consolidated basis.</div></div>
-27717000
-92068000
-231877000
-76002000
481110000
66848000
-29738000
-18825000
-19743000
-6186000
93150000
92690000
0
-91782000
-45047000
0
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">3.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Adoption of new and revised standards</div></td></tr></table><div><br /></div><div>As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="vertical-align: top; width: 18pt;"><div><font style="color: #000000;">a)</font></div></td><td style="align: left; vertical-align: top; width: auto;"><div><font style="color: #000000;">New standards, amendments and interpretations issued but not effective for the financial year beginning January 1, 2019:</font></div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, <font style="font-style: italic;">Leases</font> (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheet and making targeted changes to lessor accounting. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2019, and interim periods beginning after December 15, 2020, with early adoption permitted. The Company will adopt this guidance for the year beginning January 1, 2020 and is currently evaluating the impact of adopting this new guidance on its consolidated financial statements.</div><div><br /></div><div style="margin-left: 18pt;">In June 2016, the FASB issued ASU 2016-13, <font style="font-style: italic;">Financial Instruments – Credit Losses (Topic 326): Disclosure Framework – Measurement of Credit Losses on Financial Instruments</font> (“ASU 2016-13”), which requires financial assets measured at amortized cost basis, including trade receivables, to be presented net of the amount expected to be collected. The measurement of all expected credit losses will be based on historical experience, current conditions, and reasonable and supportable forecasts. The Company will adopt ASU 2016-13 for the year beginning January 1, 2021 and is currently evaluating the impact of adopting this new guidance on its consolidated financial statements.</div><div><br /></div><div style="margin-left: 18pt;">In August 2018, the FASB issued ASU 2018-13, <font style="font-style: italic;">Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement</font> (“ASU 2018-13”), which provides additional guidance to improve the effectiveness of disclosure requirements on fair value measurement. The Company will adopt ASU 2018-13 for the year beginning January 1, 2020 and is currently evaluating the impact of adopting this new guidance on its consolidated financial statements.</div><div><br /></div><div style="margin-left: 18pt;">In August 2018, the FASB issued ASU 2018-15, <font style="font-style: italic;">Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract</font>, which requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. A customer’s accounting for the costs of the hosting component of the arrangement is not affected by the new guidance. This ASU is effective for the Company on January 1, 2021, with early adoption permitted. The Company is currently evaluating the impact of adopting this new guidance on its consolidated financial statements and the timing of adoption.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">b)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">New and amended standards adopted by the Company:</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In May 2014, the FASB issued ASU 2014-09, <font style="font-style: italic;">Revenue from Contracts with Customers</font> (Topic 606) (“ASC 606”) which provides a single comprehensive model for recognizing revenue from contracts with customers and supersedes existing revenue recognition guidance. The new standard requires that a company recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the company expects to receive in exchange for those goods or services. The Company adopted ASC 606 on January 1, 2019 using the modified retrospective method, which required the Company to apply the new revenue standard to (i) all new revenue contracts entered into after January 1, 2019 and (ii) all existing revenue contracts as of January 1, 2019 through a cumulative adjustment to our retained earnings balance. The adoption of ASC 606 did not have any impact on the Company’s historical retained earnings.</div><div><br /></div><div style="margin-left: 18pt;">In January 2016, the FASB issued ASU 2016-01, <font style="font-style: italic;">Financial Instruments – Overall</font> (Subtopic 825-10): <font style="font-style: italic;">Recognition and Measurement of Financial Assets and Financial Liabilities</font> (“ASU 2016-01”), which makes targeted improvements to the accounting for, and presentation and disclosure of, financial instruments. ASU 2016-01 requires that most equity investments be measured at fair value, with subsequent changes in fair value recognized in net income. ASU 2016-01 does not affect the accounting for investments that would otherwise be consolidated or accounted for under the equity method. The new standard also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The Company has adopted this guidance for the year beginning January 1, 2019 by recognizing an immaterial adjustment to beginning retained earnings for the net unrealized gains/losses on equity investments with readily determinable fair values.</div><div><br /></div><div style="margin-left: 18pt;">In August 2016, the FASB issued ASU 2016-15, <font style="font-style: italic;">Statement of Cash Flows</font> (Topic 230): <font style="font-style: italic;">Classification of Certain Cash Receipts and Cash Payments</font>, which provides guidance on eight specific cash flow issues with an intention to reduce the existing diversity in practice. The Company has adopted this guidance for the year beginning January 1, 2019, and its adoption did not have a material impact on the Company’s condensed consolidated financial statements.</div><div><br /></div><div style="margin-left: 18pt;">In November 2016, the FASB issued ASU 2016-18, <font style="font-style: italic;">Statement of Cash Flows</font> (Topic 230): <font style="font-style: italic;">Restricted Cash</font>, which requires that statements of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash and restricted cash equivalents. This change is intended to limit the diversity in practice in the treatment of restricted cash in the statement of cash flows. The adoption of this standard resulted in the Company no longer showing the changes in restricted cash balances as a component of cash flows from investing or financing activities but instead including the balances of both current and long-term restricted cash with cash and cash equivalents in total cash, cash equivalents and restricted cash for the beginning and end of the periods presented. The Company has adopted this guidance for the year beginning January 1, 2019.</div><div><br /></div><div style="margin-left: 18pt;">In February 2018, the FASB issued ASU 2018-02, <font style="font-style: italic;">Income Statement: Reporting Comprehensive Income</font> (Topic 220) which allows a reclassification from accumulated other comprehensive income (loss) to retained earnings for tax effects resulting from the comprehensive tax legislation enacted by the U.S. government commonly referred to as the Tax Cuts and Jobs Act. The Company has adopted this guidance for the year beginning January 1, 2019. The Company had no tax impacts recorded in accumulated other comprehensive income (loss) prior to adoption of the standard, and therefore adoption of the standard had no impact on the Company’s condensed consolidated financial statements.</div><div><br /></div><div style="margin-left: 18pt;">In September 2018, the FASB issued ASU 2018-07, <font style="font-style: italic;">Compensation - Stock Compensation Improvements to Non-employee Share-Based Payment Accounting</font> (“ASU 2018-07”), which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under ASU 2018-07, most of the guidance on such payments to non-employees will be aligned with the requirements for share-based payments granted to employees. The Company has early adopted ASU 2018-07 upon inception of the Incentive Plan, and its adoption did not have a material impact on the Company’s condensed consolidated financial statements.</div></div>
1073000
755000
1
235874000
17376000
8939000
11295000
6810000
-26606000
-103296000
-43959000
-17141000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div></div><table align="center" border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td style="width: 35%; vertical-align: bottom;"><div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Lease</u></div></td><td style="width: 40%; vertical-align: bottom;"><div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Term</u></div></td><td style="width: 15%; vertical-align: bottom;"><div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"><u>Rent Escalation</u></div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: bottom;"> </td><td rowspan="1" style="width: 40%; vertical-align: bottom;"> </td><td rowspan="1" style="width: 15%; vertical-align: bottom;"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Land site lease¹</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">5 year initial term; 5 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">2.5% per annum</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Marine port berth lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">10 year initial term; annual renewal option for up to 10 years</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">15% after year 5</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Marine port berth lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">20 year initial term; no renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">24 month initial term; 3 month renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div>7 year initial term<font style="color: rgb(0, 0, 0);">; no renewal option</font></div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">2% per annum after year 3</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">LNG vessel time charter</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">15 year initial term; non-cancellable for the first 3 years; 5 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">No escalation</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Office space lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div>7 year initial term<font style="color: rgb(0, 0, 0);">; two 5-year renewal options</font></div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">3% per annum</div></td></tr><tr><td rowspan="1" style="width: 35%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 40%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td><td rowspan="1" style="width: 15%; vertical-align: middle; background-color: rgb(255, 255, 255);"> </td></tr><tr><td style="width: 35%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">Office space lease</div></td><td style="width: 40%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="color: rgb(0, 0, 0);">1 year renewal option</div></td><td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);"><div style="text-align: center; color: rgb(0, 0, 0);">5% per annum</div></td></tr></table><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 27pt;"> </td><td style="width: 13.5pt; vertical-align: top; align: right; color: #000000;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Refer to “Note 21. Related party transactions” for additional detail.</div></td></tr></table></div>
41395000
-196000
-196000
929000
929000
-232000
-183000
6708000
1415000
35255000
46361000
0
733000
0
-196000
19196000
17393000
167000
199000
1655000
-920000
15121000
12000000
12442000
8291000
388000
4400000
76446000
232348000
35231000
30017000
0
6329000
20150000
0
274948000
0
11000000
257000000
471000
444000
0
220000000
220000000
280000000
-18825000
-29738000
-111525000
-51233000
-7923000
-5645000
0
-91000
-45047000
-6186000
-10913000
-8003000
-10913000
-52289000
-18825000
-46644000
65631000
16588000
741000
15873000
1178000
1329000
30658000
66526000
0
59453000
7229000
846000
0
20773000
12779000
8054000
191257000
94040000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">10.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Property, plant and equipment, net</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018 the Company’s property, plant and equipment, net consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">LNG liquefaction facilities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>66,526</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>65,631</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Gas terminals</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>59,453</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Gas pipelines</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>30,658</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">ISO containers and other equipment</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>20,773</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,873</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>16,588</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>12,779</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Leasehold improvements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>8,054</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,229</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Vehicles</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,178</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Computer equipment</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>846</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>741</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accumulated depreciation</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(12,970</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(9,391</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total property, plant and equipment, net</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>191,257</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>94,040</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">Depreciation for the three months ended June 30, 2019 and 2018 totaled $1,983 and $910, respectively, of which $147 and $178 is respectively included within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. Depreciation for the six months ended June 30, 2019 and 2018 totaled $3,563 and $1,767, respectively, of which $305 and $339 is respectively included within Cost of sales in the condensed consolidated statements of operations and comprehensive loss.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018 the Company’s property, plant and equipment, net consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">LNG liquefaction facilities</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>66,526</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>65,631</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Gas terminals</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>59,453</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Gas pipelines</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>30,658</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">ISO containers and other equipment</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>20,773</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>15,873</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Land</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>16,588</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>12,779</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Leasehold improvements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>8,054</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>7,229</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Vehicles</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,178</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Computer equipment</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>846</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>741</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accumulated depreciation</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(12,970</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(9,391</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total property, plant and equipment, net</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>191,257</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>94,040</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table></div>
649000
1625000
591000
358000
724000
4520000
1742000
377000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">21.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Related party transactions</div></td></tr></table><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Management and administrative services</div><div><br /></div><div style="text-indent: 18pt;">In the ordinary course of business, Fortress Investment Group LLC (“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 Management Agreement and Administrative Agreement that are attributable to the Company totaled $1,742 and $377 for the three months ended June 30, 2019 and 2018, respectively and $4,520 and $724 for the six months ended June 30, 2019 and 2018, respectively.  Costs associated with the Management Agreement and Administrative Agreement are included within Selling, general and administrative in the condensed consolidated statements of operations and comprehensive loss.</div><div><br /></div><div style="text-indent: 18pt;">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 $649 and $358 for the three months ended June 30, 2019 and 2018, respectively and charter costs of $1,625 and $591 for the six months ended June 30, 2019 and 2018, respectively.</div><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, $5,707 and $3,579 were due to Fortress, respectively.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Land and office lease</div><div><br /></div><div style="text-indent: 18pt;">The Company has historically leased land and office space from Florida East Coast Industries, LLC (“FECI”), an affiliate of the Company. In April 2019, FECI sold the office building to a non-affiliate, and as such, the lease of the office space is now no longer held with a related party. The expense for the period that the land and building was owned by a related party during the three months ended June 30, 2019 and 2018 totaled $112 and $71, respectively, of which $38 and $0 related to the office lease and ancillary services is included in Selling, general and administrative, and $74 and $71 related to the land lease is included within Operations and maintenance, respectively. The expense for the period that the land and building was owned by a related party during the six months ended June 30, 2019 and 2018 totaled $758 and $117, respectively, of which $386 and $0 was capitalized to Construction in progress, $223 and $0 related to the office lease and ancillary services is included in Selling, general and administrative, and $149 and $117 related to the land lease is included within Operations and maintenance, respectively in the condensed consolidated statements of operations and comprehensive loss. As of June 30, 2019 and December 31, 2018, $0 and $597 were due to FECI, respectively.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">DevTech Investment</div><div><br /></div><div style="text-indent: 18pt;">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 also purchased 10% of a note payable due to an affiliate of the Company. As of June 30, 2019 and December 31, 2018, $1,073 and $755 was owed to DevTech on the note payable, respectively. The outstanding note payable due to DevTech is included in Other long-term liabilities in the condensed consolidated balance sheet as of June 30, 2019. For the three and six months ended June 30, 2019, interest expense on the note payable due to DevTech was $24 and $46, respectively. As of June 30, 2019 and December 31, 2018, $665 and $365 was due from DevTech, respectively.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Fortress affiliated entities</div><div><br /></div><div style="text-indent: 18pt;">Since 2017, the Company has provided certain administrative services to related parties including Fortress Energy Partners that is billed on a yearly basis. As of June 30, 2019 and December 31, 2018, $357 and $525 were due from affiliates, respectively. There are no costs incurred by the Company as it is fully reimbursed, and there is currently a receivable outstanding. Additionally, Fortress affiliated entities provide certain administrative services to the Company. As of June 30, 2019 and December 31, 2018, $622 and $305 were due to Fortress affiliates, respectively.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Due to/from Affiliates</div><div><br /></div><div style="text-indent: 18pt;">The tables below summarizes the balances outstanding with affiliates at June 30, 2019 and December 31, 2018:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Amounts due to affiliates</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,481</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Amounts due from affiliates</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,022</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>890</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr></table></div>
2914000
2500000
22552000
57712000
38460000
22522000
30000
19252000
-31757000
-158423000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(e)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Revenue recognition</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company’s primary revenue stream is the sale of LNG and natural gas to its customers, which is presented as Operating revenue in the condensed consolidated statements of operations and comprehensive loss. Natural gas or LNG is delivered either by pipeline into the customer’s power generation facilities or in containers delivered by truck to customer sites, respectively. Revenues from sales delivered by pipeline to a power generation facility are recognized over time under the output method, as the customer takes control of the natural gas. Revenues from sales delivered by truck are recognized at the point in time at which legal title, physical possession and the risks and rewards of ownership transfer to the customer. Title typically transfers 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 revenues and cash flows are substantially the same under both modes of delivery, we have presented revenue on an aggregated basis.</div><div><br /></div><div style="margin-left: 18pt;">The Company has concluded that variable consideration included in these agreements meets the exception for allocating variable consideration. As such, the variable consideration for these contracts is allocated to each distinct unit of LNG or natural gas delivered and recognized when that distinct unit of LNG or natural gas is delivered to the customer.</div><div><br /></div><div style="margin-left: 18pt;">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 market value 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.</div><div><br /></div><div style="margin-left: 18pt;">The leases of certain facilities and equipment to customers are accounted for as direct financing or operating leases. Direct financing leases, net represents the minimum lease payments due, net of unearned revenue. The lease payments are segregated into principal and interest components similar to a loan. Unearned revenue 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 components of the lease payment are reflected as a reduction to the net investment in the finance 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.</div><div><br /></div><div style="margin-left: 18pt;">Shipping and handling costs are not considered to be separate performance obligations. These costs are expensed in the period in which they 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.</div><div><br /></div><div style="margin-left: 18pt;">The Company collects sales taxes from its customers 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.</div><div><br /></div><div style="margin-left: 18pt;">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.</div></div>
P1Y
P6M
P1Y
P1Y
P1Y
3119776000
2407584000
164789000
58981000
164645000
159053000
164724000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">4.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Revenue from contracts with customers</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">Revenue recognized in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2019 and any associated balances on the condensed consolidated balance sheet as of June 30, 2019 prepared under ASC 606 did not differ materially from what would have been presented under the previous revenue standard. As such, no comparison for the results of operations for the three and six months ended June 30, 2019 and the financial position as of June 30, 2019 under ASC 606 and ASC 605 has been presented.</div><div><br /></div><div style="text-indent: 18pt;">Under most customer contracts, invoicing occurs once the Company’s performance obligations have been satisfied, at which point payment is unconditional. Receivables related to revenue from contracts with customers totaled $31,562 as of June 30, 2019 and were included in “Receivables, net” on the condensed consolidated balance sheets, net of the allowance for doubtful accounts. Other items included in Receivables, net not related to revenue from contracts with customers represent receivables associated with leases which are accounted for outside the scope of ASC 606.</div><div><br /></div><div style="text-indent: 18pt;">During the six month period ended June 30, 2019, the Company recognized a contract liability of $973. The contract liability balance is comprised of unconditional payments due under the contract with a customer prior to the Company’s satisfaction of the related performance obligations. The performance obligations are expected to be recognized during the next 12 months, and the contract liability is classified within Other current liabilities on the condensed consolidated balance sheets. Contract assets or liabilities have not been previously recognized, and as such, there are no other changes to contract balances within the current period.</div><div><br /></div><div style="margin-left: 18pt; color: #000000; font-style: italic;">Transaction price allocated to remaining performance obligations</div><div><br /></div><div style="text-indent: 18pt;">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.</div><div><br /></div><div style="text-indent: 18pt;">The Company has arrangements in which LNG or natural gas is 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 of them. The price under these agreements is based on a market index plus a fixed margin. The fixed transaction price allocated to the remaining performance obligations under these arrangements is $3,119,776 as of June 30, 2019, representing the fixed margin multiplied by the outstanding minimum guaranteed volumes. The Company expects to recognize this revenue over the following time periods. The pattern of recognition reflects the minimum guaranteed volumes in each period:</div><div><br /></div><table align="center" border="0" cellpadding="0" cellspacing="0" style="width: 70%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 56%;"><div><div style="font-weight: bold; text-align: center; text-indent: -9pt; margin-left: 9pt;">Period</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 3%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Revenue</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Remainder 2019</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>58,981</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2020</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>159,053</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2021</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>164,789</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2022</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>164,645</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2023</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>164,724</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Thereafter</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 3%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>2,407,584</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 3%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>3,119,776</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">For all other sales contracts that have a term exceeding one year, the Company has elected the practical expedient in ASC 606-10-50-14A 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 fluctuating 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 or natural gas. As each unit of LNG or natural gas represents a separate performance obligation, future volumes are wholly unsatisfied.</div><div><br /></div><div style="text-indent: 18pt;">During the six month period ended June 30, 2019, the Company began to incur costs to fulfill a contract with a significant customer. These costs primarily consist of expenses required to enhance resources to deliver under the agreement with the customer. Such costs are capitalized as incurred within Other non-current assets on the condensed consolidated balance sheets. As of June 30, 2019, the Company has capitalized $3,335, and these costs will be recognized over the expected customer life, beginning when the Company begins to deliver under the contract.</div></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div>The pattern of recognition reflects the minimum guaranteed volumes in each period:</div><div><br /></div><table align="center" border="0" cellpadding="0" cellspacing="0" style="width: 70%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;"><tr><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 56%;"><div><div style="font-weight: bold; text-align: center; text-indent: -9pt; margin-left: 9pt;">Period</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 3%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">Revenue</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Remainder 2019</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>58,981</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2020</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>159,053</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2021</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>164,789</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2022</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>164,645</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">2023</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>164,724</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Thereafter</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 3%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>2,407,584</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 3%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>3,119,776</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
22653000
44916000
31738000
57876000
69717000
39766000
52508000
26799000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, inventory consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">LNG and natural gas inventory</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>19,010</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,611</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Materials, supplies and other</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>613</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>348</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>19,623</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>15,959</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The following table summarizes the composition of intangible assets as of June 30, 2019 and December 31, 2018:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">June 30, 2019</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Gross Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Accumulated</div><div style="text-align: center;">Amortization</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Net Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 9%;"><div style="font-weight: bold;"><div style="text-align: center;">Useful Life</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon LNG leases and permits</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>42,685</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>677</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>42,008</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: right;">40 to 91</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total intangible assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,685</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>677</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,008</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr></table><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="12" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">December 31, 2018</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt; width: 55%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Gross Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Accumulated</div><div style="text-align: center;">Amortization</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold; width: 1%;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);"><div style="font-weight: bold;"><div style="text-align: center;">Net Carrying</div><div style="text-align: center;">Amount</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 9%;"><div style="font-weight: bold;"><div style="text-align: center;">Useful Life</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon LNG leases and permits</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>43,191</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>134</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>43,057</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-align: right;">40 to 91</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total intangible assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>43,191</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>134</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>43,057</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The following table summarizes the RSU activity for the six months ended June 30, 2019:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Restricted Stock</div><div style="text-align: center;">Units</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Weighted-</div><div style="text-align: center;">average grant</div><div style="text-align: center;">date fair value</div><div style="text-align: center;">per share</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-vested RSUs as of December 31, 2018</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Granted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,404,823</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>13.48</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Vested and shares issued</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(1,284,383</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>13.53</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Forfeited</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(160,715</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>13.51</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-vested RSUs as of June 30, 2019</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>3,959,725</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>13.46</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018 accrued liabilities consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued construction costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>16,870</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>41,343</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued IPO costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>5,296</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued vessel charter costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>2,160</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Accrued bonuses</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,600</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,582</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other accrued expenses</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>12,442</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>8,291</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>42,072</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>67,512</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Three Months Ended</div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">Six Months Ended</div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom;"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Numerator:</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(51,233</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>(111,525</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Less: net loss attributable to non-controlling interests</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>45,047</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>91,782</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss attributable to Class A shares</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>(6,186</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>(19,743</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 9pt;">Denominator:</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Weighted-average shares - basic and diluted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>22,114,002</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>18,154,939</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Net loss per share - basic and diluted</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>(0.28</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>(1.09</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">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.</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unvested RSUs<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,959,725</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Class B shares<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>147,058,824</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Shannon Equity Agreement shares<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>1,432,208</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="font-weight: bold; text-indent: -9pt; margin-left: 18pt;">Total</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>152,450,757</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table><div><br /></div><hr align="left" noshade="noshade" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 2px; width: 15%; color: #000000;" /><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(1)</td><td style="width: auto; vertical-align: top;"><div>Represents the number of instruments outstanding at the end of the period.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(2)</td><td style="width: auto; vertical-align: top;"><div>Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method.</div></td></tr></table><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt;"><br /></td><td style="width: 18pt; vertical-align: top; align: right;">(3)</td><td style="width: auto; vertical-align: top;"><div>Class A shares that would be issued in relation to the Shannon LNG Equity agreement.</div></td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, other non-current assets consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Easements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,446</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,159</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Port access rights</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,206</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,671</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Initial lease costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>8,702</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Nonrefundable deposit</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,970</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,810</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Upfront payments to customers</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>6,708</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>1,415</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total other non-current assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>46,361</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>35,255</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, restricted cash consisted of the following:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for performance under customer agreements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,126</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,095</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for LNG purchases</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>35,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>927</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for letters of credit</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>7,297</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,238</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>289</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>292</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>57,712</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>22,552</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Current restricted cash</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>19,252</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>30</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-current restricted cash</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>38,460</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>22,522</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table></div>
81918000
15535000
32169000
27404000
0
28008000
P10M
P3Y
13.51
5404823000
160715000
0
3959725000
0
13.46
13.48
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(f)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Share-based compensation</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In connection with the IPO, the Company adopted the New Fortress Energy LLC 2019 Omnibus Incentive Plan (the “Incentive Plan”), effective as of February 4, 2019. Under the Incentive Plan, the Company may issue options, stock appreciation rights, restricted shares, restricted stock units (“RSUs”), share bonuses or other share-based awards to selected officers, employees, non-employee directors and select non-employees of NFE or its affiliates. The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) 718, <font style="font-style: italic;">Compensation – Stock Compensation</font>, and ASC 505, <font style="font-style: italic;">Equity</font>, which require all share-based payments to employees and members of the board of directors to be recognized as expense in the condensed consolidated financial statements based on their fair values. The Company has elected not to estimate forfeitures of its share-based compensation awards but will recognize the reversal in compensation expense in the period in which the forfeiture occurs. Upon creation of the Incentive Plan, the Company early adopted Accounting Standards Update (“ASU”) 2018-07 (as defined below). See “Note 3(b). Adoption of new and revised standards – New and amended standards adopted by the Company” for additional information related to ASU 2018-07 and “Note 19. Share-based compensation” for additional information related to share-based compensation.</div></div>
0
0
20837272
147058824
0
0
65665037
67983095
0
0
147058824
0
67983095
20837272
0
0
0
67983095
20837272
147058824
147058824
14.00
14.00
490523000
272192000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">2.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Significant accounting policies</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The principle accounting policies adopted are set out below.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;"><tr style="vertical-align: top;"><td style="vertical-align: top; width: 18pt;"><div><font style="color: rgb(0, 0, 0);">(a)</font></div></td><td style="align: left; vertical-align: top; width: auto;"><div><font style="color: rgb(0, 0, 0);">Basis of presentation and principles of consolidation</font></div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The condensed consolidated financial statements were prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements contained herein 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.</div><div><br /></div><div style="margin-left: 18pt;">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 the Company, which is equal to the number of NFI LLC Units held by New Fortress Energy Holdings immediately following the IPO. New Fortress Energy Holdings holds a significant interest in NFE through its ownership of 147,058,824 Class B shares, representing a 88.0% voting and non-economic interest. New Fortress Energy Holdings also has an 88.0% economic interest in NFI through its ownership of 147,058,824 of NFI LLC Units. New Fortress Energy Holdings has been determined to be NFE’s predecessor for accounting purposes.</div><div><br /></div><div style="margin-left: 18pt;">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 are 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.</div><div><br /></div><div style="margin-left: 18pt;">NFE is a holding company whose sole material asset is a controlling equity interest in NFI. As the sole managing member of NFI, NFE operates and controls all of the business and affairs of NFI, and through NFI and its subsidiaries, conducts 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. As a result, NFE presented the condensed consolidated balances sheets and statements of operations and comprehensive loss of New Fortress Energy Holdings for all periods prior to the IPO. The Company’s financial statements also include a non-controlling interest related to the portion of NFI LLC Units not owned by NFE. Prior to the IPO, NFE had no operations and had no assets or liabilities.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(b)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Use of estimates</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include relative fair value allocation between revenue and lease components of contracts with customers, total consideration and fair value of identifiable net assets related to acquisitions and fair value of equity awards granted to both employees and non-employees. Management evaluates its estimates and related assumptions regularly. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(c)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Investment in equity securities</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company holds an investment in equity securities. The investment is carried at fair value with gains or losses recorded in earnings in Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss. See “Note 8. Investment in equity securities” for more information.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(d)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Legal and contingencies</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company may be involved in legal actions in the ordinary course of business, including governmental and administrative investigations, inquiries and proceedings concerning employment, labor, environmental and other claims. The Company will recognize a loss contingency in the condensed consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. The Company will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred. Gain contingencies are not recorded until they are realized.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(e)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Revenue recognition</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The Company’s primary revenue stream is the sale of LNG and natural gas to its customers, which is presented as Operating revenue in the condensed consolidated statements of operations and comprehensive loss. Natural gas or LNG is delivered either by pipeline into the customer’s power generation facilities or in containers delivered by truck to customer sites, respectively. Revenues from sales delivered by pipeline to a power generation facility are recognized over time under the output method, as the customer takes control of the natural gas. Revenues from sales delivered by truck are recognized at the point in time at which legal title, physical possession and the risks and rewards of ownership transfer to the customer. Title typically transfers 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 revenues and cash flows are substantially the same under both modes of delivery, we have presented revenue on an aggregated basis.</div><div><br /></div><div style="margin-left: 18pt;">The Company has concluded that variable consideration included in these agreements meets the exception for allocating variable consideration. As such, the variable consideration for these contracts is allocated to each distinct unit of LNG or natural gas delivered and recognized when that distinct unit of LNG or natural gas is delivered to the customer.</div><div><br /></div><div style="margin-left: 18pt;">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 market value 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.</div><div><br /></div><div style="margin-left: 18pt;">The leases of certain facilities and equipment to customers are accounted for as direct financing or operating leases. Direct financing leases, net represents the minimum lease payments due, net of unearned revenue. The lease payments are segregated into principal and interest components similar to a loan. Unearned revenue 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 components of the lease payment are reflected as a reduction to the net investment in the finance 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.</div><div><br /></div><div style="margin-left: 18pt;">Shipping and handling costs are not considered to be separate performance obligations. These costs are expensed in the period in which they 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.</div><div><br /></div><div style="margin-left: 18pt;">The Company collects sales taxes from its customers 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.</div><div><br /></div><div style="margin-left: 18pt;">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.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(f)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Share-based compensation</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In connection with the IPO, the Company adopted the New Fortress Energy LLC 2019 Omnibus Incentive Plan (the “Incentive Plan”), effective as of February 4, 2019. Under the Incentive Plan, the Company may issue options, stock appreciation rights, restricted shares, restricted stock units (“RSUs”), share bonuses or other share-based awards to selected officers, employees, non-employee directors and select non-employees of NFE or its affiliates. The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) 718, <font style="font-style: italic;">Compensation – Stock Compensation</font>, and ASC 505, <font style="font-style: italic;">Equity</font>, which require all share-based payments to employees and members of the board of directors to be recognized as expense in the condensed consolidated financial statements based on their fair values. The Company has elected not to estimate forfeitures of its share-based compensation awards but will recognize the reversal in compensation expense in the period in which the forfeiture occurs. Upon creation of the Incentive Plan, the Company early adopted Accounting Standards Update (“ASU”) 2018-07 (as defined below). See “Note 3(b). Adoption of new and revised standards – New and amended standards adopted by the Company” for additional information related to ASU 2018-07 and “Note 19. Share-based compensation” for additional information related to share-based compensation.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(g)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Income taxes</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">In conjunction with the closing of the Company’s IPO, 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. NFE has elected to be taxed as a corporation and is subject to U.S. federal and state income taxes.</div><div><br /></div><div style="margin-left: 18pt;">The Company accounts for income taxes in accordance with ASC 740, <font style="font-style: italic;">“Accounting for Income Taxes”</font> (“ASC 740”), which requires the recognition of tax benefits or expenses on temporary differences between the financial reporting and tax bases of its assets and liabilities by applying the enacted tax rates in effect for the year in which the differences are expected to reverse. Such net tax effects on temporary differences are reflected on the Company’s condensed consolidated balance sheets as deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when the Company believes that it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.</div><div style="margin-left: 18pt;"><br /></div><div style="margin-left: 18pt;">ASC 740 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense.</div><div><br /></div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(h)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Net loss per share</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">Basic EPS is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization. Class B shares represent non-economic interests in the Company and, as such, earnings are not allocated to Class B shares.</div><div><br /></div><div style="margin-left: 18pt;">Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization increased by the number of additional Class A shares that would have been outstanding, including NFI LLC Units convertible into Class A shares and unvested RSUs. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share by application of the treasury stock method or if-converted method, as applicable. Refer to “Note 18. Earnings Per Share” for additional information.</div><div><br /></div><div style="margin-left: 18pt;">Please refer to “Note 2. Significant accounting policies,” to our consolidated financial statements from our Annual Report on Form 10-K for the discussion of our significant accounting policies.</div></div>
20837272
20000000
837272
32136000
268010000
19037000
19037000
8971000
8971000
79479000
0.2
2.16
467140000
0
14340000
406591000
-31757000
2666000
-158423000
0
111236000
-11000
0
-80347000
0
0
426741000
0
0
-50000000
0
282647000
387661000
278910000
0
0
0
0
339076000
0
0
-25571000
3595000
102265000
0
0
509402000
432708000
-91260000
0
320055000
0
426741000
0
426741000
0
-110085000
0
0
3399000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">22.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Subsequent events</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">On August 12, 2019, NFE South Power Holdings Limited (“South Power”), a wholly owned subsidiary of the Company, executed a binding commitment letter pursuant to which a financial institution committed to purchase $180,000 in secured and unsecured bonds (the “Senior Secured Bonds” and “Senior Unsecured Bonds”, respectively). At closing, South Power will issue up to $72,000 and $45,000 in Senior Secured Bonds and Senior Unsecured Bonds, respectively. Additionally, the commitment to purchase Senior Unsecured Bonds may increase to $50,000 prior to closing. The Senior Secured Bonds will be secured by the dual-fired combined heat and power facility in Clarendon, Jamaica (the “CHP Plant”) that is currently under construction and related receivables and assets, and the proceeds will be used to fund the completion of the CHP Plant and to reimburse advances made by the Company. Upon completion of certain conditions, South Power will have the ability to issue an additional $63,000 Senior Secured Bonds.</div><div><br /></div><div style="text-indent: 18pt;">The Senior Secured Bonds bear interest at an annual fixed rate of 8.25% and will mature 15 years from the closing date of each tranche. No principal payments will be due for the first seven years. After seven years, quarterly principal payments of approximately 1.6% of the original principal amount will be due, with a 50% balloon payment due upon maturity. Interest payments on outstanding principal balances will be due quarterly.</div><div><br /></div><div style="text-indent: 18pt;">The Senior Unsecured Bonds will bear interest at an annual fixed rate of 11.00% and will mature 17 years from the closing date.  No principal payments will be due for the first nine years. After nine years, principal payments will be due quarterly on an escalating schedule. Interest payments on outstanding principal balances will be due quarterly.</div><div><br /></div><div style="text-indent: 18pt;">South Power will be required to comply with certain financial covenants as well as customary affirmative and negative covenants, including limitations on incurring additional indebtedness.</div></div>
155000
-478000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000;">(b)</td><td style="width: auto; vertical-align: top;"><div style="color: #000000;">Use of estimates</div></td></tr></table><div><br /></div><div style="margin-left: 18pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include relative fair value allocation between revenue and lease components of contracts with customers, total consideration and fair value of identifiable net assets related to acquisitions and fair value of equity awards granted to both employees and non-employees. Management evaluates its estimates and related assumptions regularly. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.</div></div>
9902000
5403000
1907000
3751000
18154939
22114002
0
147058824
-67983095
147058824
147058824
20150000
20150000
50000000
50000000
146420000
0
51092000
0
229229000
0
-426741000
1652215
665843
5443000
-54888000
6938000
0
50000000
0
0.020
0.150
0.025
0.050
0.030
2
P3Y
P5Y
P3Y
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div>The components of the direct finance leases as of June 30, 2019 and December 31, 2018 are as follows:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Finance leases</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>298,904</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>306,832</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unearned income</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(206,214</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(213,682</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total finance leases, net</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>92,690</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>93,150</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Current portion</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,025</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>943</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Non-current</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>91,665</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>92,207</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table></div>
1204000
13.53
1284383000
56000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The tables below summarizes the balances outstanding with affiliates at June 30, 2019 and December 31, 2018:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Amounts due to affiliates</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>4,481</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Amounts due from affiliates</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>1,022</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>890</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr></table></div>
0.1
-1698000
-802000
0
0
22552000
57712000
0
0
57712000
22552000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The movement of the equity investment during the six months ended June 30, 2019 is summarized below:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;"><div><div style="text-align: center;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Beginning of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>3,656</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Unrealized gain/(loss)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>(802</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">End of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>2,854</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">9.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Construction in progress</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">The Company’s construction in progress activity during the six months ended June 30, 2019 is detailed below:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div><div style="text-align: center; font-weight: bold;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Balance at beginning of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>254,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Additions</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>168,101</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Transferred to property, plant and equipment, net (Note 10)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(97,973</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Balance at end of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>324,828</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">Interest expense of $9,111 and $0 was capitalized for the six months ended June 30, 2019 and 2018, respectively, inclusive of amortized debt issuance costs disclosed in “Note 15. Debt.”</div></div>
700000
0.880
0.880
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-indent: 18pt;">The Company’s construction in progress activity during the six months ended June 30, 2019 is detailed below:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div><div style="text-align: center; font-weight: bold;">June 30, 2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Balance at beginning of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>254,700</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Additions</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>168,101</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Transferred to property, plant and equipment, net (Note 10)</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;"><div><div>(97,973</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;"><div><div>)</div></div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Balance at end of period</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;"><div><div>324,828</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;"> </td></tr></table></div>
168101000
-97973000
0
2160000
0
5296000
306832000
298904000
213682000
206214000
8028000
7592000
11841000
4146000
1476280
295256
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">13.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Other non-current assets</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, other non-current assets consisted of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Easements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,446</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>1,159</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Port access rights</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,206</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>12,671</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Initial lease costs</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>8,702</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>9,200</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Nonrefundable deposit</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,970</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>10,810</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Upfront payments to customers</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,329</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>—</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>6,708</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>1,415</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 18pt;">Total other non-current assets</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>46,361</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>35,255</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr></table><div><br /></div><div style="text-indent: 18pt;">Port access rights related to the Company’s port lease in Baja California Sur, Mexico, represent capitalized initial direct costs of entering the lease and are amortized straight-line over the lease term as additional rent expense. Initial lease costs represent capitalized payments made to previous lessees to secure the Company’s port lease in San Juan, Puerto Rico, and are also amortized straight-line over the lease term. Nonrefundable deposits are primarily related to deposits for planned land purchases in Pennsylvania and Ireland.</div><div><br /></div><div style="text-indent: 18pt;">Upfront payments to customers consist of amounts the Company has paid in relation to two natural gas sales contracts with customers. Under these agreements, the Company has made payments of $5,000 and is obligated to make an additional payment of $1,350 to the customers in order to construct fuel-delivery infrastructure that the customers will own.</div></div>
12671000
12206000
5000000
10810000
10970000
2
1446000
1159000
8702000
9200000
1350000
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">6.</td><td style="width: auto; vertical-align: top;"><div style="color: #000000; font-weight: bold;">Restricted cash</div></td></tr></table><div><br /></div><div style="text-indent: 18pt;">As of June 30, 2019 and December 31, 2018, restricted cash consisted of the following:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-indent: -9pt; margin-left: 9pt;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">June 30,</div><div style="text-align: center;">2019</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; font-family: &quot; border-bottom: #000000 solid 2px;"><div style="font-weight: bold;"><div style="text-align: center;">December 31,</div><div style="text-align: center;">2018</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; padding-bottom: 2px;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for performance under customer agreements</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,126</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"><div>$</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>15,095</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for LNG purchases</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>35,000</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>927</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Collateral for letters of credit</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>7,297</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>6,238</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Other restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>289</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;"><div><div>292</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Total restricted cash</div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>57,712</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>$</div></div></td><td colspan="1" valign="bottom" style="font-family: &quot; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;"><div><div>22,552</div></div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="font-family: &quot; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Current restricted cash</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>19,252</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"><div>$</div></td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;"><div>30</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);"><div style="text-indent: -9pt; margin-left: 9pt;">Non-current restricted cash</div></td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>38,460</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td><td colspan="1" valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;"><div>22,522</div></td><td colspan="1" nowrap="nowrap" valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;"> </td></tr></table></div>
292000
289000
927000
35000000
6238000
7297000
15126000
15095000
P6M
0
1558000
0
2641000
2
0.005
0.010
P1M
2
0.03
0.0160
P9Y
P7Y
0.5
180000000
72000000
45000000
50000000
63000000
Class A shares that would be issued in relation to the Shannon LNG Equity agreement.
Represents the number of instruments outstanding at the end of the period.
Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method.
Consideration due to the sellers of Shannon LNG (as defined in "Note 11. Intangible Assets" below) once first gas is supplied from the terminal to be built.
To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement.
Refer to "Note 21. Related party transactions" for additional detail.
During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split.