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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
139
Exploration
and
Production
Marketing,
Gathering
and
Compression
Former
Oilfield
Services Other Intercompany
Eliminations Consolidated
Total
($ in millions)
Year Ended
December 31, 2012:
Revenues $ 6,278 $ 10,895 $ 1,917 $ 21 $ (6,795) $ 12,316
Intersegment revenues — (5,464) (1,315) (16) 6,795 —
Total revenues $ 6,278 $ 5,431 $ 602 $ 5 $ — $ 12,316
Unrealized losses on
commodity derivatives $ (561) $ — $ — $ — $ — $ (561)
Oil, natural gas, NGL and
other depreciation,
depletion and
amortization $ 2,624 $ 54 $ 232 $ 46 $ (145) $ 2,811
Impairment of oil and
natural gas properties $ 3,315 $ — $ — $ — $ — $ 3,315
Impairments of fixed
assets and other $ 28 $ 6 $ 60 $ 246 $ — $ 340
Net (gains) losses on
sales of fixed assets $ 14 $ (298) $ 10 $ 7 $ — $ (267)
Interest expense $ (47) $ (20) $ (76) $ (364) $ 430 $ (77)
Earnings (losses) on
investments $ — $ 49 $ — $ (152) $ — $ (103)
Net gain (loss) on sales of
investments $ (2) $ 1,094 $ — $ — $ — $ 1,092
Losses on purchases of
debt $ (200) $ — $ — $ — $ — $ (200)
Income (Loss) Before
Income Taxes $ (1,798) $ 1,665 $ 112 $ (478) $ (475) $ (974)
Total Assets $ 37,004 $ 2,291 $ 2,115 $ 2,529 $ (2,328) $ 41,611
Capital Expenditures $ 12,044 $ 852 $ 658 $ 554 $ — $ 14,108
22. Condensed Consolidating Financial Information
Chesapeake Energy Corporation is a holding company, owns no operating assets and has no significant operations
independent of its subsidiaries. Our obligations under our outstanding senior notes and contingent convertible senior
notes listed in Note 3 are fully and unconditionally guaranteed, jointly and severally, by certain of our 100% owned
subsidiaries on a senior unsecured basis. Subsidiaries with noncontrolling interests, consolidated variable interest
entities and certain de minimis subsidiaries are non-guarantors. Our former oilfield services subsidiaries were separately
capitalized and were not guarantors of our debt obligations.
The tables below are condensed consolidating financial statements for Chesapeake Energy Corporation (parent)
on a stand-alone, unconsolidated basis, and its combined guarantor and combined non-guarantor subsidiaries as of
December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012. This financial information
may not necessarily be indicative of our results of operations, cash flows or financial position had these subsidiaries
operated as independent entities.