Chesapeake Energy 2013 Annual Report Download - page 152
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
144
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2012
($ in millions)
Parent(a) Guarantor
Subsidiaries(a)
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CURRENT ASSETS:
Cash and cash equivalents .............. $ 228 $ — $ 59 $ — $ 287
Restricted cash................................. —— 111 — 111
Other ................................................ 1 2,382 511 (348) 2,546
Current assets held for sale.............. —— 4 — 4
Intercompany receivable, net ........... 25,159 — — (25,159) —
Total Current Assets................. 25,388 2,382 685 (25,507) 2,948
PROPERTY AND EQUIPMENT:
Natural gas and oil properties, at
cost based on full cost accounting,
net ................................................. — 28,742 3,387 (211) 31,918
Other property and equipment, net... — 3,065 1,551 (1) 4,615
Property and equipment held for
sale, net......................................... —256 378 — 634
Total Property and Equipment,
Net ........................................ — 32,063 5,316 (212) 37,167
LONG-TERM ASSETS:
Other assets ..................................... 217 1,396 261 (378) 1,496
Investments in subsidiaries and
intercompany advances ................ 2,438 (134) — (2,304) —
TOTAL ASSETS................................... $ 28,043 $ 35,707 $ 6,262 $ (28,401) $ 41,611
CURRENT LIABILITIES:
Current liabilities ............................... $ 789 $ 5,377 $ 428 $ (349) $ 6,245
Current liabilities held for sale........... —— 21 — 21
Intercompany payable, net ............... — 23,684 1,586 (25,270) —
Total Current Liabilities............. 789 29,061 2,035 (25,619) 6,266
LONG-TERM LIABILITIES:
Long-term debt, net .......................... 11,089 — 1,068 — 12,157
Deferred income tax liabilities........... 361 2,425 127 (106) 2,807
Other liabilities .................................. 235 1,783 839 (372) 2,485
Total Long-Term Liabilities....... 11,685 4,208 2,034 (478) 17,449
EQUITY:
Chesapeake stockholders’ equity..... 15,569 2,438 2,193 (4,631) 15,569
Noncontrolling interests .................... —— — 2,327 2,327
Total Equity .............................. 15,569 2,438 2,193 (2,304) 17,896
TOTAL LIABILITIES AND EQUITY...... $ 28,043 $ 35,707 $ 6,262 $ (28,401) $ 41,611
___________________________________________
(a) We have revised the amounts presented as cash and cash equivalents in the Guarantor Subsidiaries and Parent
columns to properly reflect the cash of the Parent of $228 million, which was incorrectly presented in the Guarantor
Subsidiaries column. The impact of this error was not material to any previously issued financial statements.