Chesapeake Energy 2012 Annual Report Download - page 168
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
158
Management evaluates the performance of our segments based upon income (loss) before income taxes.
Revenues from the sale of natural gas, oil and NGL related to Chesapeake’s ownership interests by the marketing,
gathering and compression operating segment are reflected as exploration and production revenues. Such amounts
totaled $5.5 billion, $5.2 billion and $4.2 billion for the years ended December 31, 2012, 2011 and 2010, respectively.
The following table presents selected financial information for Chesapeake’s operating segments.
Exploration
and
Production
Marketing,
Gathering
and
Compression
Oilfield
Services
Other
Operations
Intercompany
Eliminations
Consolidated
Total
($ in millions)
For the Year Ended
December 31, 2012:
Revenues ......................... $ 6,278 $ 10,895 $ 1,917 $ 21 $ (6,795) $ 12,316
Intersegment revenues ..... — (5,464) (1,315) (16) 6,795 —
Total revenues ........... $ 6,278 $ 5,431 $ 602 $ 5 $ — $ 12,316
Unrealized (gain) loss on
natural gas, oil and NGL
derivatives ..................... (561) — — — — (561)
Depreciation, depletion
and amortization ........... 2,624 54 232 46 (145) 2,811
Impairment of natural gas
and oil properties .......... 3,315 — — — — 3,315
(Gains) losses on sales of
fixed assets ................... 14 (298) 10 7 — (267)
Impairments of fixed
assets and other ........... 28 6 60 246 — 340
Interest expense ............... (47) (20) (76) (364) 430 (77)
Earnings (losses) on
investments ................... — 49 — (152) — (103)
Gains (losses) on sales of
investments ................... (2) 1,094 — — — 1,092
Losses on purchases or
exchanges of debt......... (200) — — — — (200)
Income (Loss) Before
Income Taxes .............. $ (1,798) $ 1,665 $ 112 $ (478) $ (475) $ (974)
Total Assets .................... $ 37,004 $ 2,291 $ 2,115 $ 2,529 $ (2,328) $ 41,611
Capital Expenditures ...... $ 12,044 $ 852 $ 658 $ 554 $ — $ 14,108