Chesapeake Energy 2013 Annual Report Download - page 154

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
146
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
AS OF DECEMBER 31, 2012
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Natural gas, oil and NGL ....................... $ — $ 5,819 $ 387 $ 72 $ 6,278
Marketing, gathering and compression.. — 5,370 212 (151) 5,431
Oilfield services ..................................... — — 1,941 (1,334) 607
Total Revenues............................. — 11,189 2,540 (1,413) 12,316
OPERATING EXPENSES:
Natural gas, oil and NGL production...... — 1,275 29 — 1,304
Production taxes.................................... — 182 6 — 188
Marketing, gathering and compression.. — 5,284 115 (87) 5,312
Oilfield services ..................................... — 168 1,433 (1,136) 465
General and administrative.................... — 415 121 (1) 535
Restructuring and other termination
costs ................................................... —52 — 7
Natural gas, oil and NGL depreciation,
depletion and amortization ................. —2,346 161 — 2,507
Depreciation and amortization of other
assets ................................................. — 181 273 (150) 304
Impairment of natural gas and oil
properties ........................................... —3,174 141 — 3,315
Impairments of fixed assets and other... — 275 65 — 340
Net gains on sales of fixed assets ......... —(269) 2 — (267)
Total Operating Expenses............. — 13,036 2,348 (1,374) 14,010
INCOME (LOSS) FROM OPERATIONS ... — (1,847) 192 (39) (1,694)
OTHER INCOME (EXPENSE):
Interest expense .................................... (879) 45 (84) 841 (77)
Losses on investments .......................... — (167) 55 9 (103)
Gains on sales of investments............... — 1,030 62 — 1,092
Losses on purchases of debt and
extinguishment of other financing....... (200) — — — (200)
Other income ......................................... 819 202 15 (1,028) 8
Equity in net earnings (losses) of
subsidiary ........................................... (610)(163) — 773 —
Total Other Income (Expense)...... (870) 947 48 595 720
INCOME (LOSS) BEFORE INCOME
TAXES.................................................... (870)(900) 240 556 (974)
INCOME TAX EXPENSE (BENEFIT)........ (101)(287) 93 (85) (380)
NET INCOME (LOSS) ............................... (769)(613) 147 641 (594)
Net income attributable to
noncontrolling interests ...................... — — — (175) (175)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE................................. (769)(613) 147 466 (769)
Other comprehensive income (loss)...... 6(22) — — (16)
COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO CHESAPEAKE..... $(763) $ (635) $ 147 $ 466 $ (785)