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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
101
7. Related Party Transactions
Our equity method investees are considered related parties. During 2014, 2013 and 2012, we had the following
transactions with our equity method investees:
Years Ended December 31,
2014 2013 2012
($ in millions)
Purchases(a) $ — $ — $ 73
Sales(b) $ — $ 666 $ 392
Services(c) $ 220 $ 397 $ 480
___________________________________________
(a) Purchase of equipment from FTS International, Inc. (FTS).
(b) In 2013 and 2012, Chesapeake sold produced gas to our 30%-owned investee, Twin Eagle Resource Management
LLC (Twin Eagle). We sold our investment in Twin Eagle in 2014.
(c) Hydraulic fracturing and other services provided to us by FTS in the ordinary course of business. As well operators,
we are reimbursed by other working interest owners through the joint interest billing process for their proportionate
share of these costs.
The table below shows the total amounts due from and due to our equity method investees.
December 31,
2014 2013 2012
($ in millions)
Amounts due from equity method investees $ — $ 47 $ 67
Amounts due to equity method investees $ — $ 1 $ 42
8. Equity
Common Stock
The following is a summary of the changes in our common shares issued for the years ended December 31,
2014, 2013 and 2012:
Years Ended December 31,
2014 2013 2012
(in thousands)
Shares issued as of January 1 666,192 666,468 660,888
Restricted stock issuances (net of forfeitures and cancellations)(a) (2,529) (599) 5,038
Stock option exercises 1,281 323 542
Shares issued as of December 31 664,944 666,192 666,468
___________________________________________
(a) In the second quarter of 2013, we began granting restricted stock units (RSUs) in lieu of restricted stock awards
(RSAs) to non-employee directors and employees. Shares of common stock underlying RSUs are issued when
the units vest, whereas shares of common stock are issued on the date the RSAs are granted. We refer to RSAs
and RSUs collectively as restricted stock.