Chesapeake Energy 2015 Annual Report Download - page 83

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
The accompanying notes are an integral part of these consolidated financial statements.
79
Years Ended December 31,
2015 2014 2013
($ in millions)
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS) ................................................................................... $ (14,635) $ 2,056 $ 894
ADJUSTMENTS TO RECONCILE NET INCOME (LOSS) TO CASH
PROVIDED BY OPERATING ACTIVITIES:
Depreciation, depletion and amortization ................................................ 2,229 2,915 2,903
Deferred income tax expense (benefit) ................................................... (4,427) 1,097 526
Derivative gains, net ................................................................................ (932) (1,102) (71)
Cash receipts (payments) on derivative settlements, net........................ 1,123 (253) (104)
Stock-based compensation ..................................................................... 78 59 98
Impairment of oil and natural gas properties ........................................... 18,238 — —
Net (gains) losses on sales of fixed assets ............................................. 4 (199) (302)
Impairments of fixed assets and other .................................................... 175 58 483
Losses on investments ............................................................................ 96 75 219
Impairments of investments .................................................................... 53 5 10
Net (gains) losses on sales of investments ............................................. — (67) 7
(Gains) losses on purchases or exchanges of debt ................................ (304) 63 40
Restructuring and other termination costs............................................... (14) (15) 175
Provision for legal contingencies ............................................................. 340 234 —
Other ....................................................................................................... 244 220 122
(Increase) decrease in accounts receivable and other assets................. 1,186 (21) 5
Decrease in accounts payable, accrued liabilities and other................... (2,220) (491) (391)
Net Cash Provided By Operating Activities ......................................... 1,234 4,634 4,614
CASH FLOWS FROM INVESTING ACTIVITIES:
Drilling and completion costs................................................................... (3,095) (4,581) (5,604)
Acquisitions of proved and unproved properties ..................................... (533) (1,311) (1,032)
Proceeds from divestitures of proved and unproved properties .............. 189 5,813 3,467
Additions to other property and equipment ............................................. (143) (726) (972)
Proceeds from sales of other property and equipment............................ 89 1,003 922
Additions to investments ......................................................................... (10) (17) (44)
Proceeds from sales of investments ....................................................... — 239 115
Decrease in restricted cash ..................................................................... 52 37 177
Other ....................................................................................................... — (3) 4
Net Cash Provided By (Used In) Investing Activities........................... (3,451) 454 (2,967)