Chesapeake Energy 2015 Annual Report Download - page 152

Download and view the complete annual report

Please find page 152 of the 2015 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 175

  • 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
  • 174
  • 175

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
148
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER 31, 2014
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Oil, natural gas and NGL......................... $ — $ 9,899 $ 458 $ (3) $ 10,354
Marketing, gathering and compression ... — 12,220 5 — 12,225
Oilfield services ....................................... — 41 983 (478) 546
Total Revenues............................... — 22,160 1,446 (481) 23,125
OPERATING EXPENSES:
Oil, natural gas and NGL production ....... — 1,166 42 — 1,208
Oil, natural gas and NGL gathering,
processing and transportation.............. — 2,134 40 — 2,174
Production taxes...................................... — 227 5 — 232
Marketing, gathering and compression ... — 12,232 4 — 12,236
Oilfield services ....................................... — 53 769 (391) 431
General and administrative ..................... — 273 49 — 322
Restructuring and other termination
costs..................................................... — 4 3 — 7
Provision for legal contingencies............. 100 134 — — 234
Oil, natural gas and NGL depreciation,
depletion and amortization ................... — 2,523 162 (2) 2,683
Depreciation and amortization of other
assets................................................... — 153 143 (64) 232
Impairment of oil and natural gas
properties ............................................. — — 349 (349) —
Impairments of fixed assets and other..... — 65 23 — 88
Net gains on sales of fixed assets........... — (192) (7) — (199)
Total Operating Expenses............... 100 18,772 1,582 (806) 19,648
INCOME (LOSS) FROM OPERATIONS..... (100) 3,388 (136) 325 3,477
OTHER INCOME (EXPENSE):
Interest expense...................................... (657) (37) (42) 647 (89)
Losses on investments............................ — (77) — 2 (75)
Impairments of investments .................... — — (5) — (5)
Net gain of sales of investments.............. — 67 — — 67
Losses on purchases or exchanges of
debt ...................................................... (195) (2) — — (197)
Other income (expense).......................... 502 198 (2) (676) 22
Equity in net earnings (losses) of
subsidiary ............................................. 2,206 (258) — (1,948) —
Total Other Income (Expense)........ 1,856 (109) (49) (1,975) (277)
INCOME (LOSS) BEFORE INCOME
TAXES...................................................... 1,756 3,279 (185) (1,650) 3,200
INCOME TAX EXPENSE (BENEFIT).......... (161) 1,264 (66) 107 1,144
NET INCOME (LOSS) ................................. 1,917 2,015 (119) (1,757) 2,056
Net income attributable to
noncontrolling interests ........................ — — — (139) (139)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE................................... 1,917 2,015 (119) (1,896) 1,917
Other comprehensive income ................. 118 — — 19
COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO CHESAPEAKE ...... $1,918 $ 2,033 $ (119) $ (1,896) $ 1,936