Chesapeake Energy 2015 Annual Report Download - page 153

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
149
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER 31, 2013
($ in millions)
Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
REVENUES:
Oil, natural gas and NGL......................... $ —$ 8,013 $ 553 $ 60 $ 8,626
Marketing, gathering and compression... —9,547 12 — 9,559
Oilfield services....................................... —221 1,836 (1,162) 895
Total Revenues............................... —17,781 2,401 (1,102) 19,080
OPERATING EXPENSES:
Oil, natural gas and NGL production....... —1,112 47 — 1,159
Oil, natural gas and NGL gathering,
processing and transportation.............. —1,574 — — 1,574
Production taxes ..................................... —222 7 — 229
Marketing, gathering and compression... —9,455 6 — 9,461
Oilfield services....................................... —239 1,434 (937) 736
General and administrative ..................... —375 83 (1) 457
Restructuring and other termination
costs .................................................... —244 4 — 248
Oil, natural gas and NGL depreciation,
depletion and amortization................... —2,336 253 — 2,589
Depreciation and amortization of other
assets .................................................. —180 281 (147) 314
Impairment of oil and natural gas
properties............................................. —(2) 313 (311) —
Impairments of fixed assets and other .... —417 129 — 546
Net gains on sales of fixed assets........... —(301) (1) — (302)
Total Operating Expenses.............. —15,851 2,556 (1,396) 17,011
INCOME (LOSS) FROM OPERATIONS..... —1,930 (155) 294 2,069
OTHER INCOME (EXPENSE):
Interest expense ..................................... (921) (4) (85) 783 (227)
Losses on investments ........................... —(216) — — (216)
Impairments of investments .................... —(9) (1) — (10)
Net loss on sales of investments............. —(7) — — (7)
Losses on purchases or exchanges of
debt...................................................... (70) (123) — — (193)
Other income (expense)........................... 3,979 (603) 13 (3,363) 26
Equity in net earnings (losses) of
subsidiary ............................................ (1,129) (383) — 1,512 —
Total Other Income (Expense)........ 1,859 (1,345) (73) (1,068) (627)
INCOME (LOSS) BEFORE INCOME
TAXES ..................................................... 1,859 585 (228) (774) 1,442
INCOME TAX EXPENSE (BENEFIT) ......... 1,135 369 (87) (869) 548
NET INCOME (LOSS)................................. 724 216 (141) 95 894
Net income attributable to
noncontrolling interests........................ —— — (170) (170)
NET INCOME (LOSS) ATTRIBUTABLE
TO CHESAPEAKE .................................. 724 216 (141) (75) 724
Other comprehensive income (loss) ....... 319 (2) — 20
COMPREHENSIVE INCOME (LOSS)
ATTRIBUTABLE TO CHESAPEAKE...... $ 727 $ 235 $ (143) $ (75) $ 744