Chesapeake Energy 2013 Annual Report Download - page 153

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
145
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
AS OF DECEMBER 31, 2013
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Natural gas, oil and NGL ....................... $ — $ 6,289 $ 754 $ 9 $ 7,052
Marketing, gathering and compression.. — 9,549 10 — 9,559
Oilfield services ..................................... — — 2,218 (1,323) 895
Total Revenues............................. — 15,838 2,982 (1,314) 17,506
OPERATING EXPENSES:
Natural gas, oil and NGL production...... — 1,099 60 — 1,159
Production taxes.................................... — 221 8 — 229
Marketing, gathering and compression.. — 9,456 5 — 9,461
Oilfield services ..................................... — 95 1,761 (1,120) 736
General and administrative.................... — 361 97 (1) 457
Restructuring and other termination
costs ................................................... — 244 4 — 248
Natural gas, oil and NGL depreciation,
depletion and amortization ................. —2,303 286 — 2,589
Depreciation and amortization of other
assets ................................................. — 177 292 (155) 314
Impairment of natural gas and oil
properties ........................................... — — 311 (311) —
Impairments of fixed assets and other... — 443 103 — 546
Net gains on sales of fixed assets ......... —(301) (1) — (302)
Total Operating Expenses............. — 14,098 2,926 (1,587) 15,437
INCOME (LOSS) FROM OPERATIONS ... — 1,740 56 273 2,069
OTHER INCOME (EXPENSE):
Interest expense .................................... (921) (4) (85) 783 (227)
Losses on investments .......................... — (225) (1) — (226)
Losses on sales of investments............. — (7) — — (7)
Losses on purchases of debt and
extinguishment of other financing....... (70)(123) — — (193)
Other income (loss) ............................... 3,979 (594) 13 (3,372) 26
Equity in net earnings of subsidiary....... (1,129)(264) — 1,393 —
Total Other Income (Expense)...... 1,859 (1,217) (73) (1,196) (627)
INCOME (LOSS) BEFORE INCOME
TAXES.................................................... 1,859 523 (17) (923) 1,442
INCOME TAX EXPENSE (BENEFIT)........ 1,135 299 (6) (880) 548
NET INCOME (LOSS) ............................... 724 224 (11) (43) 894
Net income attributable to
noncontrolling interests .................... — — — (170) (170)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE................................. 724 224 (11) (213) 724
Other comprehensive income (loss).... 319 (2) — 20
COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO CHESAPEAKE..... $ 727 $ 243 $ (13) $ (213) $ 744