v2.4.0.8

Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of Condensed Balance Sheet [Table Text Block] | CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2014 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,371 |  |  | $ | — |  |  | $ | 117 |  |  | $ | (26 | ) |  | $ | 1,462 |
Restricted cash |  | — |  |  | — |  |  | 81 |  |  | (6 | ) |  | 75 |
Other |  | 79 |  |  | 2,542 |  |  | 181 |  |  | 31 |  |  | 2,833 |
Intercompany receivable, net |  | 25,163 |  |  | — |  |  | — |  |  | (25,163 | ) |  | — |
Total Current Assets |  | 26,613 |  |  | 2,542 |  |  | 379 |  |  | (25,164 | ) |  | 4,370 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Natural gas and oil properties, at cost based on full cost .accounting, net |  | — |  |  | 30,786 |  |  | 3,083 |  |  | (420 | ) |  | 33,449 |
Other property and equipment, net |  | — |  |  | 2,309 |  |  | 6 |  |  | — |  |  | 2,315 |
Property and equipment held for sale, net |  | — |  |  | 247 |  |  | — |  |  | — |  |  | 247 |
Total Property and Equipment, Net |  | — |  |  | 33,342 |  |  | 3,089 |  |  | (420 | ) |  | 36,011 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other assets |  | 113 |  |  | 605 |  |  | 28 |  |  | — |  |  | 746 |
Investments in subsidiaries and intercompany advances |  | 1,867 |  |  | (550 | ) |  | — |  |  | (1,317 | ) |  | — |
TOTAL ASSETS |  | $ | 28,593 |  |  | $ | 35,939 |  |  | $ | 3,496 |  |  | $ | (26,901 | ) |  | $ | 41,127 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 261 |  |  | $ | 5,446 |  |  | $ | 117 |  |  | $ | (32 | ) |  | $ | 5,792 |
Intercompany payable, net |  | — |  |  | 25,608 |  |  | 930 |  |  | (26,538 | ) |  | — |
Total Current Liabilities |  | 261 |  |  | 31,054 |  |  | 1,047 |  |  | (26,570 | ) |  | 5,792 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 11,549 |  |  | — |  |  | — |  |  | — |  |  | 11,549 |
Deferred income tax liabilities |  | 342 |  |  | 1,964 |  |  | 550 |  |  | 917 |  |  | 3,773 |
Other long-term liabilities |  | 239 |  |  | 1,054 |  |  | 395 |  |  | — |  |  | 1,688 |
Total Long-Term Liabilities |  | 12,130 |  |  | 3,018 |  |  | 945 |  |  | 917 |  |  | 17,010 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity |  | 16,202 |  |  | 1,867 |  |  | 1,504 |  |  | (3,371 | ) |  | 16,202 |
Noncontrolling interests |  | — |  |  | — |  |  | — |  |  | 2,123 |  |  | 2,123 |
Total Equity |  | 16,202 |  |  | 1,867 |  |  | 1,504 |  |  | (1,248 | ) |  | 18,325 |
TOTAL LIABILITIES AND EQUITY |  | $ | 28,593 |  |  | $ | 35,939 |  |  | $ | 3,496 |  |  | $ | (26,901 | ) |  | $ | 41,127 |
CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2013 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 799 |  |  | $ | — |  |  | $ | 39 |  |  | $ | (1 | ) |  | $ | 837 |
Restricted cash |  | — |  |  | — |  |  | 82 |  |  | (7 | ) |  | 75 |
Other |  | 103 |  |  | 2,411 |  |  | 578 |  |  | (348 | ) |  | 2,744 |
Intercompany receivable, net |  | 25,357 |  |  | — |  |  | — |  |  | (25,357 | ) |  | — |
Total Current Assets |  | 26,259 |  |  | 2,411 |  |  | 699 |  |  | (25,713 | ) |  | 3,656 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Natural gas and oil properties, at cost based on full cost accounting, net |  | — |  |  | 29,295 |  |  | 3,113 |  |  | 185 |  |  | 32,593 |
Other property and equipment, net |  | — |  |  | 2,360 |  |  | 1,452 |  |  | (1 | ) |  | 3,811 |
Property and equipment held for sale, net |  | — |  |  | 701 |  |  | 29 |  |  | — |  |  | 730 |
Total Property and Equipment, Net |  | — |  |  | 32,356 |  |  | 4,594 |  |  | 184 |  |  | 37,134 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other assets |  | 111 |  |  | 1,161 |  |  | 96 |  |  | (376 | ) |  | 992 |
Investments in subsidiaries and intercompany advances |  | 2,361 |  |  | (262 | ) |  | — |  |  | (2,099 | ) |  | — |
TOTAL ASSETS |  | $ | 28,731 |  |  | $ | 35,666 |  |  | $ | 5,389 |  |  | $ | (28,004 | ) |  | $ | 41,782 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 300 |  |  | $ | 5,227 |  |  | $ | 344 |  |  | $ | (356 | ) |  | $ | 5,515 |
Intercompany payable, net |  | — |  |  | 24,775 |  |  | 558 |  |  | (25,333 | ) |  | — |
Total Current Liabilities |  | 300 |  |  | 30,002 |  |  | 902 |  |  | (25,689 | ) |  | 5,515 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 11,831 |  |  | — |  |  | 1,055 |  |  | — |  |  | 12,886 |
Deferred income tax liabilities |  | 209 |  |  | 2,281 |  |  | 830 |  |  | 87 |  |  | 3,407 |
Other long-term liabilities |  | 396 |  |  | 1,022 |  |  | 788 |  |  | (372 | ) |  | 1,834 |
Total Long-Term Liabilities |  | 12,436 |  |  | 3,303 |  |  | 2,673 |  |  | (285 | ) |  | 18,127 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity |  | 15,995 |  |  | 2,361 |  |  | 1,814 |  |  | (4,175 | ) |  | 15,995 |
Noncontrolling interests |  | — |  |  | — |  |  | — |  |  | 2,145 |  |  | 2,145 |
Total Equity |  | 15,995 |  |  | 2,361 |  |  | 1,814 |  |  | (2,030 | ) |  | 18,140 |
TOTAL LIABILITIES AND EQUITY |  | $ | 28,731 |  |  | $ | 35,666 |  |  | $ | 5,389 |  |  | $ | (28,004 | ) |  | $ | 41,782 |
Schedule of Condensed Income Statement [Table Text Block] | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2014 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL |  | $ | — |  |  | $ | 1,469 |  |  | $ | 237 |  |  | $ | (2 | ) |  | $ | 1,704 |
Marketing, gathering and compression |  | — |  |  | 3,166 |  |  | 1 |  |  | — |  |  | 3,167 |
Oilfield services |  | — |  |  | 23 |  |  | 499 |  |  | (241 | ) |  | 281 |
Total Revenues |  | — |  |  | 4,658 |  |  | 737 |  |  | (243 | ) |  | 5,152 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL production |  | — |  |  | 266 |  |  | 16 |  |  | — |  |  | 282 |
Production taxes |  | — |  |  | 69 |  |  | 3 |  |  | — |  |  | 72 |
Marketing, gathering and compression |  | — |  |  | 3,166 |  |  | — |  |  | — |  |  | 3,166 |
Oilfield services |  | — |  |  | 22 |  |  | 375 |  |  | (185 | ) |  | 212 |
General and administrative |  | — |  |  | 66 |  |  | 24 |  |  | — |  |  | 90 |
Restructuring and other termination costs |  | — |  |  | 30 |  |  | 3 |  |  | — |  |  | 33 |
Natural gas, oil and NGL depreciation, depletion and amortization |  | — |  |  | 583 |  |  | 68 |  |  | 10 |  |  | 661 |
Depreciation and amortization of other assets |  | — |  |  | 38 |  |  | 71 |  |  | (30 | ) |  | 79 |
Impairment of natural gas and oil properties |  | — |  |  | — |  |  | 38 |  |  | (38 | ) |  | — |
Impairments of fixed assets and other |  | — |  |  | 37 |  |  | 3 |  |  | — |  |  | 40 |
Net gains on sales of fixed assets |  | — |  |  | (85 | ) |  | (8 | ) |  | — |  |  | (93 | )
Total Operating Expenses |  | — |  |  | 4,192 |  |  | 593 |  |  | (243 | ) |  | 4,542 |
INCOME FROM OPERATIONS |  | — |  |  | 466 |  |  | 144 |  |  | — |  |  | 610 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (156 | ) |  | (3 | ) |  | (20 | ) |  | 152 |  |  | (27 | )
Losses on investments |  | — |  |  | (19 | ) |  | (5 | ) |  | — |  |  | (24 | )
Losses on purchases of debt |  | (195 | ) |  | — |  |  | — |  |  | — |  |  | (195 | )
Other income (loss) |  | 136 |  |  | 33 |  |  | — |  |  | (162 | ) |  | 7 |
Equity in net earnings of subsidiary |  | 324 |  |  | 35 |  |  | — |  |  | (359 | ) |  | — |
Total Other Income (Expense) |  | 109 |  |  | 46 |  |  | (25 | ) |  | (369 | ) |  | (239 | )
INCOME BEFORE INCOME TAXES |  | 109 |  |  | 512 |  |  | 119 |  |  | (369 | ) |  | 371 |
INCOME TAX EXPENSE |  | (82 | ) |  | 182 |  |  | 45 |  |  | (4 | ) |  | 141 |
NET INCOME |  | 191 |  |  | 330 |  |  | 74 |  |  | (365 | ) |  | 230 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | (39 | ) |  | (39 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 191 |  |  | 330 |  |  | 74 |  |  | (404 | ) |  | 191 |
Other comprehensive income (loss) |  | 1 |  |  | (2 | ) |  | — |  |  | — |  |  | (1 | )
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 192 |  |  | $ | 328 |  |  | $ | 74 |  |  | $ | (404 | ) |  | $ | 190 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2013 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL |  | $ | — |  |  | $ | 2,241 |  |  | $ | 160 |  |  | $ | 5 |  |  | $ | 2,406 |
Marketing, gathering and compression |  | — |  |  | 2,051 |  |  | 6 |  |  | — |  |  | 2,057 |
Oilfield services |  | — |  |  | 60 |  |  | 484 |  |  | (332 | ) |  | 212 |
Total Revenues |  | — |  |  | 4,352 |  |  | 650 |  |  | (327 | ) |  | 4,675 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL production |  | — |  |  | 274 |  |  | 14 |  |  | — |  |  | 288 |
Production taxes |  | — |  |  | 57 |  |  | 2 |  |  | — |  |  | 59 |
Marketing, gathering and compression |  | — |  |  | 2,026 |  |  | 2 |  |  | — |  |  | 2,028 |
Oilfield services |  | — |  |  | 99 |  |  | 354 |  |  | (276 | ) |  | 177 |
General and administrative |  | — |  |  | 80 |  |  | 26 |  |  | — |  |  | 106 |
Restructuring and other termination costs |  | — |  |  | 6 |  |  | 1 |  |  | — |  |  | 7 |
Natural gas, oil and NGL depreciation, depletion and amortization |  | — |  |  | 589 |  |  | 56 |  |  | — |  |  | 645 |
Depreciation and amortization of other assets |  | — |  |  | 46 |  |  | 71 |  |  | (41 | ) |  | 76 |
Impairment of natural gas and oil properties |  | — |  |  | — |  |  | 70 |  |  | (70 | ) |  | — |
Impairments of fixed assets and other |  | — |  |  | 224 |  |  | 7 |  |  | — |  |  | 231 |
Net gains on sales of fixed assets |  | — |  |  | (109 | ) |  | — |  |  | — |  |  | (109 | )
Total Operating Expenses |  | — |  |  | 3,292 |  |  | 603 |  |  | (387 | ) |  | 3,508 |
INCOME FROM OPERATIONS |  | — |  |  | 1,060 |  |  | 47 |  |  | 60 |  |  | 1,167 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (278 | ) |  | (42 | ) |  | (21 | ) |  | 237 |  |  | (104 | )
Losses on investments |  | — |  |  | 23 |  |  | — |  |  | — |  |  | 23 |
Net gain on sales of investments |  | — |  |  | (10 | ) |  | — |  |  | — |  |  | (10 | )
Losses on purchases of debt |  | (70 | ) |  | — |  |  | — |  |  | — |  |  | (70 | )
Other income |  | 228 |  |  | 63 |  |  | (22 | ) |  | (266 | ) |  | 3 |
Equity in net earnings (losses) of subsidiary |  | 654 |  |  | (64 | ) |  | — |  |  | (590 | ) |  | — |
Total Other Income (Expense) |  | 534 |  |  | (30 | ) |  | (43 | ) |  | (619 | ) |  | (158 | )
INCOME BEFORE INCOME TAXES |  | 534 |  |  | 1,030 |  |  | 4 |  |  | (559 | ) |  | 1,009 |
INCOME TAX EXPENSE (BENEFIT) |  | (46 | ) |  | 416 |  |  | 2 |  |  | 12 |  |  | 384 |
NET INCOME |  | 580 |  |  | 614 |  |  | 2 |  |  | (571 | ) |  | 625 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | (45 | ) |  | (45 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 580 |  |  | 614 |  |  | 2 |  |  | (616 | ) |  | 580 |
Other comprehensive income (loss) |  | 2 |  |  | (2 | ) |  | — |  |  | — |  |  | — |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 582 |  |  | $ | 612 |  |  | $ | 2 |  |  | $ | (616 | ) |  | $ | 580 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2014 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL |  | $ | — |  |  | $ | 3,015 |  |  | $ | 459 |  |  | $ | (3 | ) |  | $ | 3,471 |
Marketing, gathering and compression |  | — |  |  | 6,180 |  |  | 2 |  |  | — |  |  | 6,182 |
Oilfield services |  | — |  |  | 40 |  |  | 983 |  |  | (478 | ) |  | 545 |
Total Revenues |  | — |  |  | 9,235 |  |  | 1,444 |  |  | (481 | ) |  | 10,198 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL production |  | — |  |  | 535 |  |  | 35 |  |  | — |  |  | 570 |
Production taxes |  | — |  |  | 117 |  |  | 5 |  |  | — |  |  | 122 |
Marketing, gathering and compression |  | — |  |  | 6,145 |  |  | 2 |  |  | — |  |  | 6,147 |
Oilfield services |  | — |  |  | 54 |  |  | 769 |  |  | (392 | ) |  | 431 |
General and administrative |  | — |  |  | 120 |  |  | 49 |  |  | — |  |  | 169 |
Restructuring and other termination costs |  | — |  |  | 23 |  |  | 3 |  |  | — |  |  | 26 |
Natural gas, oil and NGL depreciation, depletion and amortization |  | — |  |  | 1,151 |  |  | 129 |  |  | 8 |  |  | 1,288 |
Depreciation and amortization of other assets |  | — |  |  | 78 |  |  | 143 |  |  | (64 | ) |  | 157 |
Impairment of natural gas and oil properties |  | — |  |  | — |  |  | 98 |  |  | (98 | ) |  | — |
Impairments of fixed assets and other |  | — |  |  | 37 |  |  | 23 |  |  | — |  |  | 60 |
Net gains on sales of fixed assets |  | — |  |  | (109 | ) |  | (6 | ) |  | — |  |  | (115 | )
Total Operating Expenses |  | — |  |  | 8,151 |  |  | 1,250 |  |  | (546 | ) |  | 8,855 |
INCOME FROM OPERATIONS |  | — |  |  | 1,084 |  |  | 194 |  |  | 65 |  |  | 1,343 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (347 | ) |  | (3 | ) |  | (42 | ) |  | 326 |  |  | (66 | )
Losses on investments |  | — |  |  | (42 | ) |  | (5 | ) |  | 2 |  |  | (45 | )
Net gain on sales of investments |  | — |  |  | 67 |  |  | — |  |  | — |  |  | 67 |
Losses on purchases of debt |  | (195 | ) |  | — |  |  | — |  |  | — |  |  | (195 | )
Other income (loss) |  | 479 |  |  | (107 | ) |  | 1 |  |  | (360 | ) |  | 13 |
Equity in net earnings of subsidiary |  | 655 |  |  | 12 |  |  | — |  |  | (667 | ) |  | — |
Total Other Income (Expense) |  | 592 |  |  | (73 | ) |  | (46 | ) |  | (699 | ) |  | (226 | )
INCOME BEFORE INCOME TAXES |  | 592 |  |  | 1,011 |  |  | 148 |  |  | (634 | ) |  | 1,117 |
INCOME TAX EXPENSE |  | (24 | ) |  | 377 |  |  | 56 |  |  | 12 |  |  | 421 |
NET INCOME |  | 616 |  |  | 634 |  |  | 92 |  |  | (646 | ) |  | 696 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | (80 | ) |  | (80 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 616 |  |  | 634 |  |  | 92 |  |  | (726 | ) |  | 616 |
Other comprehensive income |  | 3 |  |  | 5 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 619 |  |  | $ | 639 |  |  | $ | 92 |  |  | $ | (726 | ) |  | $ | 624 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2013 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL |  | $ | — |  |  | $ | 3,562 |  |  | $ | 288 |  |  | $ | 8 |  |  | $ | 3,858 |
Marketing, gathering and compression |  | — |  |  | 3,829 |  |  | 9 |  |  | — |  |  | 3,838 |
Oilfield services |  | — |  |  | 116 |  |  | 934 |  |  | (648 | ) |  | 402 |
Total Revenues |  | — |  |  | 7,507 |  |  | 1,231 |  |  | (640 | ) |  | 8,098 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Natural gas, oil and NGL production |  | — |  |  | 570 |  |  | 25 |  |  | — |  |  | 595 |
Production taxes |  | — |  |  | 108 |  |  | 4 |  |  | — |  |  | 112 |
Marketing, gathering and compression |  | — |  |  | 3,767 |  |  | 5 |  |  | — |  |  | 3,772 |
Oilfield services |  | — |  |  | 146 |  |  | 716 |  |  | (530 | ) |  | 332 |
General and administrative |  | — |  |  | 170 |  |  | 46 |  |  | — |  |  | 216 |
Restructuring and other termination costs |  | — |  |  | 137 |  |  | 3 |  |  | — |  |  | 140 |
Natural gas, oil and NGL depreciation, depletion and amortization |  | — |  |  | 1,180 |  |  | 113 |  |  | — |  |  | 1,293 |
Depreciation and amortization of other assets |  | — |  |  | 96 |  |  | 139 |  |  | (81 | ) |  | 154 |
Impairment of natural gas and oil properties |  | — |  |  | — |  |  | 161 |  |  | (161 | ) |  | — |
Impairments of fixed assets and other |  | — |  |  | 251 |  |  | 7 |  |  | — |  |  | 258 |
Net gains on sales of fixed assets |  | — |  |  | (158 | ) |  | — |  |  | — |  |  | (158 | )
Total Operating Expenses |  | — |  |  | 6,267 |  |  | 1,219 |  |  | (772 | ) |  | 6,714 |
INCOME FROM OPERATIONS |  | — |  |  | 1,240 |  |  | 12 |  |  | 132 |  |  | 1,384 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (496 | ) |  | (43 | ) |  | (42 | ) |  | 457 |  |  | (124 | )
Losses on investments |  | — |  |  | (14 | ) |  | — |  |  | — |  |  | (14 | )
Net gain on sales of investments |  | — |  |  | (10 | ) |  | — |  |  | — |  |  | (10 | )
Losses on purchases of debt |  | (70 | ) |  | — |  |  | — |  |  | — |  |  | (70 | )
Other income |  | 443 |  |  | 75 |  |  | 5 |  |  | (515 | ) |  | 8 |
Equity in net earnings (losses) of subsidiary |  | 715 |  |  | (153 | ) |  | — |  |  | (562 | ) |  | — |
Total Other Income (Expense) |  | 592 |  |  | (145 | ) |  | (37 | ) |  | (620 | ) |  | (210 | )
INCOME BEFORE INCOME TAXES |  | 592 |  |  | 1,095 |  |  | (25 | ) |  | (488 | ) |  | 1,174 |
INCOME TAX EXPENSE (BENEFIT) |  | (47 | ) |  | 474 |  |  | (9 | ) |  | 28 |  |  | 446 |
NET INCOME |  | 639 |  |  | 621 |  |  | (16 | ) |  | (516 | ) |  | 728 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | (89 | ) |  | (89 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 639 |  |  | 621 |  |  | (16 | ) |  | (605 | ) |  | 639 |
Other comprehensive income |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 12 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 639 |  |  | $ | 633 |  |  | $ | (16 | ) |  | $ | (605 | ) |  | $ | 651 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2014 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | — |  |  | $ | 2,134 |  |  | $ | 509 |  |  | $ | — |  |  | $ | 2,643 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (1,791 | ) |  | (205 | ) |  | — |  |  | (1,996 | )
Acquisitions of proved and unproved properties |  | — |  |  | (356 | ) |  | — |  |  | — |  |  | (356 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 247 |  |  | 1 |  |  | — |  |  | 248 |
Additions to other property and equipment |  | — |  |  | (368 | ) |  | (252 | ) |  | — |  |  | (620 | )
Other investing activities |  | — |  |  | 858 |  |  | 60 |  |  | 26 |  |  | 944 |
Net Cash Used In Investing Activities |  | — |  |  | (1,410 | ) |  | (396 | ) |  | 26 |  |  | (1,780 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from credit facilities borrowings |  | — |  |  | 140 |  |  | 717 |  |  | — |  |  | 857 |
Payments on credit facilities borrowings |  | — |  |  | (140 | ) |  | (1,099 | ) |  | — |  |  | (1,239 | )
Proceeds from issuance of senior notes, net of discount and offering costs |  | 2,966 |  |  | — |  |  | 494 |  |  | — |  |  | 3,460 |
Proceeds from issuance of oilfield services term loan, net of issuance costs |  | — |  |  | — |  |  | 394 |  |  | — |  |  | 394 |
Cash paid to purchase debt |  | (3,362 | ) |  | — |  |  | — |  |  | — |  |  | (3,362 | )
Other financing activities |  | (193 | ) |  | 15 |  |  | (119 | ) |  | (51 | ) |  | (348 | )
Intercompany advances, net |  | 1,161 |  |  | (739 | ) |  | (422 | ) |  | — |  |  | — |
Net Cash Provided By (Used In) Financing Activities |  | 572 |  |  | (724 | ) |  | (35 | ) |  | (51 | ) |  | (238 | )
Net increase (decrease) in cash and cash equivalents |  | 572 |  |  | — |  |  | 78 |  |  | (25 | ) |  | 625 |
Cash and cash equivalents, beginning of period |  | 799 |  |  | — |  |  | 39 |  |  | (1 | ) |  | 837 |
Cash and cash equivalents, end of period |  | $ | 1,371 |  |  | $ | — |  |  | $ | 117 |  |  | $ | (26 | ) |  | $ | 1,462 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2013 ($ in millions)
|  | Parent(a) |  | Guarantor Subsidiaries(a) |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | — |  |  | $ | 1,933 |  |  | $ | 297 |  |  | $ | (25 | ) |  | $ | 2,205 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (2,689 | ) |  | (456 | ) |  | — |  |  | (3,145 | )
Acquisitions of proved and unproved properties |  | — |  |  | (549 | ) |  | (1 | ) |  | — |  |  | (550 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 1,834 |  |  | 61 |  |  | — |  |  | 1,895 |
Additions to other property and equipment |  | — |  |  | (316 | ) |  | (190 | ) |  | — |  |  | (506 | )
Other investing activities |  | — |  |  | 161 |  |  | 440 |  |  | 130 |  |  | 731 |
Net Cash Used In Investing Activities |  | — |  |  | (1,559 | ) |  | (146 | ) |  | 130 |  |  | (1,575 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from credit facilities borrowings |  | — |  |  | 6,013 |  |  | 546 |  |  | — |  |  | 6,559 |
Payments on credit facilities borrowings |  | — |  |  | (6,013 | ) |  | (565 | ) |  | — |  |  | (6,578 | )
Proceeds from issuance of senior notes, net of discount and offering costs |  | 2,274 |  |  | — |  |  | — |  |  | — |  |  | 2,274 |
Cash paid to purchase debt |  | (1,874 | ) |  | — |  |  | — |  |  | — |  |  | (1,874 | )
Proceeds from sales of noncontrolling interests |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Other financing activities |  | (245 | ) |  | (292 | ) |  | 16 |  |  | (105 | ) |  | (626 | )
Intercompany advances, net |  | 272 |  |  | (87 | ) |  | (185 | ) |  | — |  |  | — |
Net Cash Provided By (Used In) Financing Activities |  | 427 |  |  | (374 | ) |  | (188 | ) |  | (105 | ) |  | (240 | )
Net increase (decrease) in cash and cash equivalents |  | 427 |  |  | — |  |  | (37 | ) |  | — |  |  | 390 |
Cash and cash equivalents, beginning of period |  | 228 |  |  | — |  |  | 59 |  |  | — |  |  | 287 |
Cash and cash equivalents, end of period |  | $ | 655 |  |  | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | 677 |
___________________________________________
(a) | We have revised the amounts presented as cash and cash equivalents in the Guarantor Subsidiaries and Parent columns to properly reflect the cash of the Parent. As of December 31, 2012 and June 30, 2013, $228 million and $655 million, respectively, were incorrectly presented in the Guarantor Subsidiaries column. The impact of this error was not material to any previously issued financial statements.

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