Variable Interest Entity (Tables)

3 Months Ended

Mar. 31, 2024

Variable Interest Entity, Measure of Activity [Abstract]

The assets and liabilities in the table below include assets and liabilities of Intermediate Holdings only and exclude intercompany

balances between Intermediate Holdings and NextDecade, which are eliminated in the Consolidated Financial Statements of NextDecade.


	March 31, 2024		December 31, 2023
Assets
Current assets
Cash	$	205,644	$	256,237
Derivatives	29,327		17,958
Prepaid expenses and other current assets	77		108
Total current assets	235,048		274,303
Property, plant and equipment, net	3,147,946		2,428,583
Operating lease right-of-use assets, net	156,218		157,053
Debt issuance costs	370,064		389,695
Derivatives	175,699		—
Other non-current assets	15,407		9,374
Total assets	$	4,100,382	$	3,259,008

Liabilities
Current liabilities
Accounts payable	$	171,667	$	238,582
Accrued liabilities and other current liabilities	314,464		288,779
Operating lease	2,577		2,554
Total current liabilities	488,708		529,915
Operating lease	131,248		131,901
Non-current derivative liability	—		66,899
Debt, net	2,368,124		1,816,301
Total liabilities	$	2,988,080	$	2,545,016

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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