Chesapeake Energy 2012 Annual Report Download - page 51

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ITEM 6. Selected Financial Data
The following table sets forth selected consolidated financial data of Chesapeake for the years ended December
31, 2012, 2011, 2010, 2009 and 2008. The data are derived from our audited consolidated financial statements revised
to reflect the reclassification of certain items. The table should be read in conjunction with Management's Discussion
and Analysis of Financial Condition and Results of Operations and our consolidated financial statements, including
the notes, appearing in Items 7 and 8, respectively, of this report.
Years Ended December 31,
2012 2011 2010 2009 2008
($ in millions, except per share data)
REVENUES:
Natural gas, oil and NGL ...................................................... $ 6,278 $ 6,024 $ 5,647 $ 5,049 $ 7,858
Marketing, gathering and compression ................................. 5,431 5,090 3,479 2,463 3,598
Oilfield services .................................................................... 607 521 240 190 173
Total Revenues ................................................................ 12,316 11,635 9,366 7,702 11,629
OPERATING EXPENSES:
Natural gas, oil and NGL production ..................................... 1,304 1,073 893 876 889
Production taxes ................................................................... 188 192 157 107 284
Marketing, gathering and compression ................................. 5,312 4,967 3,352 2,316 3,505
Oilfield services .................................................................... 465 402 208 182 143
General and administrative ................................................... 535 548 453 349 377
Natural gas, oil and NGL depreciation, depletion and
amortization ...................................................................... 2,507 1,632 1,394 1,371 1,970
Depreciation and amortization of other assets ...................... 304 291 220 244 174
Impairment of natural gas and oil properties ......................... 3,315 — — 11,000 2,800
Net (gains) losses on sales of fixed assets ........................... (267) (437) (137) 38 —
Impairments of fixed assets and other .................................. 340 46 21 130 30
Employee retirement and other termination benefits............. 7——34—
Total Operating Expenses ................................................ 14,010 8,714 6,561 16,647 10,172
INCOME (LOSS) FROM OPERATIONS (1,694) 2,921 2,805 (8,945) 1,457
OTHER INCOME (EXPENSE):
Interest expense ................................................................... (77) (44) (19) (113) (271)
Earnings (losses) on investments ......................................... (103) 156 227 (39) (38)
Gains on sales of investments .............................................. 1,092 — — — —
Losses on purchases or exchanges of debt .......................... (200) (176) (129) (40) (4)
Impairments of investments .................................................. — — (16) (162) (180)
Other income (expense) ....................................................... 823161127
Total Other Income (Expense) ......................................... 720 (41) 79 (343) (466)
INCOME (LOSS) BEFORE INCOME TAXES (974) 2,880 2,884 (9,288) 991
INCOME TAX EXPENSE (BENEFIT):
Current income taxes ........................................................... 47 13 — 4 423
Deferred income taxes ......................................................... (427) 1,110 1,110 (3,487) (36)
Total Income Tax Expense (Benefit)................................. (380) 1,123 1,110 (3,483) 387
NET INCOME (LOSS) .............................................................. (594) 1,757 1,774 (5,805) 604
Net income attributable to noncontrolling interests ............... (175) (15) — (25) —
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE
.... (769) 1,742 1,774 (5,830) 604
Preferred stock dividends ..................................................... (171) (172) (111) (23) (33)
Loss on conversion/exchange of preferred stock .................. ————(67)
NET INCOME (LOSS) AVAILABLE TO
COMMON STOCKHOLDERS ............................................... $ (940) $ 1,570 $ 1,663 $ (5,853) $ 504