Chesapeake Energy 2013 Annual Report Download - page 144
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
136
A summary of the changes in Chesapeake’s financial assets (liabilities) classified as Level 3 measurements
during 2013 and 2012 is presented below.
Derivatives
Commodity Interest Rate
($ in millions)
Beginning Balance as of January 1, 2013 ....................................................... $ (1,016) $ —
Total gains (losses) (realized/unrealized):
Included in earnings(a) ..................................................................................... 410 (1)
Total purchases, issuances, sales and settlements:
Sales ............................................................................................................... — 1
Settlements ..................................................................................................... 128 —
Ending Balance as of December 31, 2013 ....................................................... $ (478) $ —
Beginning Balance as of January 1, 2012 ....................................................... $ (1,654) $ —
Total gains (losses) (realized/unrealized):
Included in earnings(a) ..................................................................................... 567 6
Total purchases, issuances, sales and settlements:
Sales ............................................................................................................... — (6)
Settlements ..................................................................................................... 71 —
Ending Balance as of December 31, 2012 ....................................................... $ (1,016) $ —
___________________________________________
(a) Natural Gas, Oil and
NGL Sales Interest Expense
2013 2012 2013 2012
($ in millions)
Total gains (losses) included in earnings for the
period .................................................................... $ 410 $ 567 $ (1) $ 6
Change in unrealized gains (losses) related to assets
still held at reporting date ...................................... $ 382 $ 374 $ — $ —