Chesapeake Energy 2013 Annual Report Download - page 125
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
117
The following tables present the netting offsets of derivative assets and liabilities in the consolidated balance
sheets as of December 31, 2013 and December 31, 2012:
December 31, 2013
Derivative Assets Derivative Liabilities
Short-
Term Long-
Term Short-
Term Long-
Term
($ in millions)
Commodity Contracts:
Gross amounts of recognized assets (liabilities) .................... $ 29 $ 11 $ (231) $ (362)
Gross amounts offset in the consolidated balance sheet ....... (29) (9) 29 9
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... — 2 (202) (353)
Interest Rate Contracts:
Gross amounts of recognized assets (liabilities) .................... — — (6) (92)
Gross amounts offset in the consolidated balance sheet ....... ————
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... — — (6) (92)
Foreign Currency Contracts:
Gross amounts of recognized assets (liabilities) .................... — 2 — —
Gross amounts offset in the consolidated balance sheet ....... ————
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... — 2 — —
Total derivatives as reported...................................... $ — $ 4 $ (208) $ (445)
December 31, 2012
Derivative Assets Derivative Liabilities
Short-
Term Long-
Term Short-
Term Long-
Term
($ in millions)
Commodity Contracts:
Gross amounts of recognized assets (liabilities) .................... $ 110 $ 5 $ (157) $ (882)
Gross amounts offset in the consolidated balance sheet ....... (52) (3) 52 3
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... 58 2 (105) (879)
Interest Rate Contracts:
Gross amounts of recognized assets (liabilities) .................... — — — (35)
Gross amounts offset in the consolidated balance sheet ....... ————
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... — — — (35)
Foreign Currency Contracts:
Gross amounts of recognized assets (liabilities) .................... — — — (20)
Gross amounts offset in the consolidated balance sheet ....... ————
Net amounts of assets (liabilities) presented in the
consolidated balance sheet .......................................... — — — (20)
Total derivatives as reported...................................... $ 58 $ 2 $ (105) $ (934)