Chesapeake Energy 2015 Annual Report Download - page 144

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
140
19. Fair Value Measurements
Recurring Fair Value Measurements
Other Current Assets. Assets related to Chesapeake’s deferred compensation plan are included in other current
assets. The fair value of these assets is determined using quoted market prices as they consist of exchange-traded
securities.
Other Current Liabilities. Liabilities related to Chesapeake’s deferred compensation plan are included in other
current liabilities. The fair values of these liabilities are determined using quoted market prices as the plan consists of
exchange-traded mutual funds.
Financial Assets (Liabilities). The following table provides fair value measurement information for the above-noted
financial assets (liabilities) measured at fair value on a recurring basis as of December 31, 2015 and 2014:
Quoted
Prices in
Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
Fair Value
($ in millions)
As of December 31, 2015
Financial Assets (Liabilities):
Other current assets............................ $ 50 $ — $ — $ 50
Other current liabilities ........................ (51) — — (51)
Total ....................................... $ (1) $ — $ — $ (1)
As of December 31, 2014
Financial Assets (Liabilities):
Other current assets............................ $ 57 $ — $ — $ 57
Other current liabilities ........................ (58) — — (58)
Total ....................................... $ (1) $ — $ — $ (1)
See Note 3 for information regarding fair value measurement of our debt instruments. See Note 11 for information
regarding fair value measurement of our derivatives.
Nonrecurring Fair Value Measurements
See Note 17 regarding nonrecurring fair value measurements.