Chesapeake Energy 2013 Annual Report Download - page 155
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
147
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
AS OF DECEMBER 31, 2011
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Natural gas, oil and NGL ....................... $ — $ 5,886 $ 84 $ 54 $ 6,024
Marketing, gathering and compression.. — 5,022 199 (131) 5,090
Oilfield services ..................................... — 18 1,260 (757) 521
Total Revenues............................. — 10,926 1,543 (834) 11,635
OPERATING EXPENSES:
Natural gas, oil and NGL production...... — 1,073 — — 1,073
Production taxes.................................... — 190 2 — 192
Marketing, gathering and compression.. — 4,944 116 (93) 4,967
Oilfield services ..................................... — 1958 (557) 402
General and administrative.................... — 477 71 — 548
Natural gas, oil and NGL depreciation,
depletion and amortization ................. —1,625 7 — 1,632
Depreciation and amortization of other
assets ................................................. — 169 217 (95) 291
Impairments of fixed assets and other... — — 46 — 46
Net gains on sales of fixed assets ......... — (2) (435) — (437)
Total Operating Expenses............. — 8,477 982 (745) 8,714
INCOME (LOSS) FROM OPERATIONS ... — 2,449 561 (89) 2,921
OTHER INCOME (EXPENSE):
Interest expense .................................... (640) (12) (50) 658 (44)
Earnings (losses) on investments.......... — 61 95 — 156
Losses on purchases of debt and
extinguishment of other financing....... (176) — — — (176)
Other income ......................................... 646 43 19 (685) 23
Equity in net earnings of subsidiary....... 1,846 309 — (2,155) —
Total Other Income (Expense)...... 1,676 401 64 (2,182) (41)
INCOME (LOSS) BEFORE INCOME
TAXES.................................................... 1,676 2,850 625 (2,271) 2,880
INCOME TAX EXPENSE (BENEFIT)........ (66) 991 243 (45) 1,123
NET INCOME (LOSS) ............................... 1,742 1,859 382 (2,226) 1,757
Net income attributable to
noncontrolling interests .................... — — — (15) (15)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE................................. 1,742 1,859 382 (2,241) 1,742
Other comprehensive income.............. 9(9) 2 — 2
COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO CHESAPEAKE..... $1,751 $1,850 $ 384 $ (2,241) $ 1,744