Chesapeake Energy 2014 Annual Report Download - page 152

Download and view the complete annual report

Please find page 152 of the 2014 Chesapeake Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 173

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
144
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER 31, 2012
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Oil, natural gas and NGL $ — $ 5,920 $ 351 $ 7 $ 6,278
Marketing, gathering and compression — 5,218 212 1 5,431
Oilfield services — 154 1,553 (1,100) 607
Total Revenues — 11,292 2,116 (1,092) 12,316
OPERATING EXPENSES:
Oil, natural gas and NGL production — 1,278 26 — 1,304
Production taxes — 182 6 — 188
Marketing, gathering and compression — 5,197 115 — 5,312
Oilfield services — 301 1,096 (932) 465
General and administrative — 431 105 (1) 535
Restructuring and other termination
costs — 5 2 — 7
Oil, natural gas and NGL depreciation,
depletion and amortization — 2,353 154 — 2,507
Depreciation and amortization of other
assets — 187 266 (149) 304
Impairment of oil and natural gas
properties — 3,192 123 — 3,315
Impairments of fixed assets and other — 275 65 — 340
Net gains (losses) on sales of fixed
assets — (269) 2 — (267)
Total Operating Expenses — 13,132 1,960 (1,082) 14,010
INCOME (LOSS) FROM OPERATIONS — (1,840) 156 (10) (1,694)
OTHER INCOME (EXPENSE):
Interest expense (879) 45 (84) 841 (77)
Losses on investments — (167) 55 9 (103)
Net gain on sales of investments — 29 1,063 — 1,092
Losses on purchases of debt (200) — — — (200)
Other income (loss) 819 203 14 (1,028) 8
Equity in net earnings (losses) of
subsidiary (610) 436 — 174 —
Total Other Income (Expense) (870) 546 1,048 (4) 720
INCOME (LOSS) BEFORE INCOME
TAXES (870) (1,294) 1,204 (14) (974)
INCOME TAX EXPENSE (BENEFIT) (101) (675) 470 (74) (380)
NET INCOME (LOSS) (769) (619) 734 60 (594)
Net income attributable to
noncontrolling interests — — — (175) (175)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE (769) (619) 734 (115) (769)
Other comprehensive income (loss) 6(22) — — (16)
COMPREHENSIVE INCOME
ATTRIBUTABLE TO CHESAPEAKE $(763) $ (641) $ 734 $ (115) $ (785)