Chesapeake Energy 2014 Annual Report Download - page 45

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37
ITEM 6. Selected Financial Data
The following table sets forth selected consolidated financial data of Chesapeake for the years ended December
31, 2014, 2013, 2012, 2011 and 2010. The data are derived from our audited consolidated financial statements, revised
to reflect the reclassification of certain items to conform to current period presentation. The table should be read in
conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and our
consolidated financial statements, including the notes thereto, appearing in Items 7 and 8, respectively, of this report.
Years Ended December 31,
2014 2013 2012 2011 2010
($ in millions, except per share data)
REVENUES:
Oil, natural gas and NGL $ 8,180 $ 7,052 $ 6,278 $ 6,024 $ 5,647
Marketing, gathering and compression 12,225 9,559 5,431 5,090 3,479
Oilfield services 546 895 607 521 240
Total Revenues 20,951 17,506 12,316 11,635 9,366
OPERATING EXPENSES:
Oil, natural gas and NGL production 1,208 1,159 1,304 1,073 893
Production taxes 232 229 188 192 157
Marketing, gathering and compression 12,236 9,461 5,312 4,967 3,352
Oilfield services 431 736 465 402 208
General and administrative 322 457 535 548 453
Restructuring and other termination costs 7 248 7 — —
Provision for legal contingencies 234 — — — —
Oil, natural gas and NGL depreciation, depletion and
amortization 2,683 2,589 2,507 1,632 1,394
Depreciation and amortization of other assets 232 314 304 291 220
Impairment of oil and natural gas properties — — 3,315 — —
Impairments of fixed assets and other 88 546 340 46 21
Net gains on sales of fixed assets (199) (302) (267) (437) (137)
Total Operating Expenses 17,474 15,437 14,010 8,714 6,561
INCOME (LOSS) FROM OPERATIONS 3,477 2,069 (1,694) 2,921 2,805
OTHER INCOME (EXPENSE):
Interest expense (89) (227) (77) (44) (19)
Earnings (losses) on investments (80) (226) (103) 156 227
Net gain (loss) on sales of investments 67 (7) 1,092 — (129)
Losses on purchases of debt (197) (193) (200) (176) (16)
Other income 22 26 8 23 16
Total Other Income (Expense) (277) (627) 720 (41) 79
INCOME (LOSS) BEFORE INCOME TAXES 3,200 1,442 (974) 2,880 2,884
INCOME TAX EXPENSE (BENEFIT):
Current income taxes 47 22 47 13 —
Deferred income taxes 1,097 526 (427) 1,110 1,110
Total Income Tax Expense (Benefit) 1,144 548 (380) 1,123 1,110
NET INCOME (LOSS) 2,056 894 (594) 1,757 1,774
Net income attributable to noncontrolling interests (139) (170) (175) (15) —
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE 1,917 724 (769) 1,742 1,774
Preferred stock dividends (171) (171) (171) (172) (111)
Premium on purchase of preferred shares of a subsidiary (447) (69) — — —
Earnings allocated to participating securities (26) (10) — — —
NET INCOME (LOSS) AVAILABLE TO
COMMON STOCKHOLDERS $ 1,273 $ 474 $ (940) $ 1,570 $ 1,663