NewFortress Energy 2Q23 Results
(in thousands of $)
Total revenues
Cost of sales
Vessel operating expenses
Operations and maintenance
Consolidated Segment Operating Margin
Less:
Selling, general and administrative
Transaction and integration costs
Depreciation and amortization
Appendix
Segment operating margin reconciliation
Year Ended December 31, 2021
Interest expense
Other (income), net
Loss from extinguishment of debt
(Income) from equity method investments
Tax provision
Net income
Terminals and
Infrastructure (1)
1,366,142
789,069
3,442
92,424
481,207
Ships
(2)
329,608
64,385
265,223
Total Segment
1,695,750
789,069
67,827
92,424
746,430
Consolidation and
Other (3)
(372,940)
(173,059)
(16,150)
(19,108)
(164,623)
Consolidated
1,322,810
616,010
51,677
73,316
581,80
199,881
44,671
98,377
154,324
(17,150)
10,975
(14,443)
12,461
92,711
(1) Terminals and Infrastructure includes the Company's effective share of revenues, expenses and operating margin attributable to 50% ownership of CELSEPAR. The losses attributable to the investment of $17,925 for the
year ended December 31, 2021 are reported in income from equity method investments on the consolidated statements of operations and comprehensive income (loss). Terminals and Infrastructure does not include the
unrealized mark-to-market loss on derivative instruments of $2,788 for the year ended December 31, 2021 reported in Cost of sales.
(2) Ships includes the Company's effective share of revenues, expenses and operating margin attributable to 50% ownership of the Hilli Common Units. The earnings attributable to the investment of $32,368 for the year
ended December 31, 2021 are reported in income from equity method investments on the consolidated statements of operations and comprehensive income (loss).
(3) Consolidation and Other adjusts for the inclusion of the effective share of revenues, expenses and operating margin attributable to 50% ownership of CELSEPAR and Hilli Common Units in our segment measure and
exclusion of the unrealized mark-to-market gain or loss on derivative instruments.
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