v2.4.0.8
Equity (Tables)
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Common Stock [Table Text Block]
The following is a summary of the changes in our common shares issued during the Current Period and the Prior Period:
 
 
Six Months Ended
June 30,
 
 
2014
 
2013
 
 
(in thousands)
Shares issued as of January 1
 
666,192

 
666,468

Restricted stock issuances (net of forfeitures)(a)
 
(2,019
)
 
2,138

Stock option exercises
 
1,268

 
313

Shares issued as of June 30
 
665,441

 
668,919

___________________________________________
(a)
In the second quarter of 2013, we began granting restricted stock units (RSUs) in lieu of restricted stock awards (RSAs) to non-employee directors and employees. Shares of common stock underlying RSUs are issued when the units vest, whereas restricted shares of common stock are issued on the grant date of RSAs. We refer to RSAs and RSUs collectively as restricted stock.
Schedule of Stock by Class [Table Text Block]
The following reflects the shares outstanding during the Current Period and the Prior Period, the liquidation preferences and the conversion prices of our cumulative convertible preferred stock:
 
 
5.75%
 
5.75% (A)
 
4.50%
 
5.00%
(2005B)  
Shares outstanding as of January 1, 2014 and 2013 and
June 30, 2014 and 2013 (in thousands)
 
1,497

 
1,100

 
2,559

 
2,096

 
 
 
 
 
 
 
 
 
Liquidation preference per share
 
$
1,000

 
$
1,000

 
$
100

 
$
100

 
 
 
 
 
 
 
 
 
Conversion price per share(a)
 
$
25.2617

 
$
26.1412

 
$
40.9011

 
$
36.2077

___________________________________________
(a)
As a result of the spin-off of our oilfield services business, conversion price adjustments were made as of the distribution date to give effect to the dividend of SSE common stock and cash dividends paid on our common stock.
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
For the Current Period and the Prior Period, changes in accumulated other comprehensive income (loss) by component, net of tax, are detailed below.
 
 
Net Gains
(Losses) on
Cash Flow
Hedges
 
Net Gains
(Losses)
on
Investments
 
Total
 
 
($ in millions)
Balance, December 31, 2013
 
$
(167
)
 
$
5

 
$
(162
)
Other comprehensive income before reclassifications
 
3

 
—

 
3

Amounts reclassified from accumulated other comprehensive income
 
10

 
(5
)
 
5

Net other comprehensive income
 
13

 
(5
)
 
8

Balance, June 30, 2014
 
$
(154
)
 
$
—

 
$
(154
)

 
 
Net Gains
(Losses) on
Cash Flow
Hedges
 
Net Gains
(Losses)
on
Investments
 
Total
 
 
($ in millions)
Balance, December 31, 2012
 
$
(189
)
 
$
7

 
$
(182
)
Other comprehensive income before reclassifications
 
—

 
(5
)
 
(5
)
Amounts reclassified from accumulated other comprehensive income
 
11

 
6

 
17

Net other comprehensive income
 
11

 
1

 
12

Balance, June 30, 2013
 
$
(178
)
 
$
8

 
$
(170
)
A reconciliation of the changes in accumulated other comprehensive income (loss) in our condensed consolidated statements of stockholders’ equity related to our cash flow hedges is presented below. 
 
 
Three Months Ended
June 30,
 
 
2014
 
2013
 
 
Before 
Tax  
 
After 
Tax  
 
Before 
Tax  
 
After 
Tax  
 
 
($ in millions)
Balance, beginning of period
 
$
(247
)
 
$
(153
)
 
$
(287
)
 
$
(178
)
Net change in fair value
 
1

 
—

 
2

 
1

Gains (losses) reclassified to income
 
3

 
(1
)
 
(1
)
 
(1
)
Balance, end of period
 
$
(243
)
 
$
(154
)
 
$
(286
)
 
$
(178
)
 
 
Six Months Ended
June 30,
 
 
2014
 
2013
 
 
Before 
Tax  
 
After 
Tax  
 
Before 
Tax  
 
After 
Tax  
 
 
($ in millions)
Balance, beginning of period
 
$
(269
)
 
$
(167
)
 
$
(304
)
 
$
(189
)
Net change in fair value
 
6

 
3

 
—

 
—

Losses reclassified to income
 
20

 
10

 
18

 
11

Balance, end of period
 
$
(243
)
 
$
(154
)
 
$
(286
)
 
$
(178
)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
For the Current Quarter, the Prior Quarter, the Current Period and the Prior Period, amounts reclassified from accumulated other comprehensive income (loss), net of tax, into the condensed consolidated statements of operations are detailed below.
Details About Accumulated
Other Comprehensive
Income (Loss) Components
 
Affected Line Item
in the Statement
Where Net Income is Presented
 
Three Months Ended
June 30,
 
 
2014
 
2013
 
 
 
 
($ in millions)
Net losses on cash flow hedges:
 
 
 
 
 
 
Commodity contracts
 
Natural gas, oil and NGL revenues
 
$
(1
)
 
$
(1
)
Total reclassifications for the period, net of tax
 
$
(1
)
 
$
(1
)
Details About Accumulated
Other Comprehensive
Income (Loss) Components
 
Affected Line Item
in the Statement
Where Net Income is Presented
 
Six Months Ended
June 30,
 
 
2014
 
2013
 
 
 
 
($ in millions)
Net losses on cash flow hedges:
 
 
 
 
 
 
Commodity contracts
 
Natural gas, oil and NGL revenues
 
$
10

 
$
11

Investments:
 
 
 
 
 
 
Impairment of investment
 
Losses on investments
 
—

 
6

Sale of investment
 
Net gain on sale of investment
 
(5
)
 
—

Total reclassifications for the period, net of tax
 
$
5

 
$
17
Distributions Made to Limited Partner, by Distribution [Table Text Block]
For the Current Period and the Prior Period, the Trust declared and paid the following distributions:
Production Period

Distribution Date

Cash Distribution
per
Common Unit

Cash Distribution
per
Subordinated Unit
December 2013 - February 2014
 
May 30, 2014
 
$
0.6454

 
$
—

September 2013 - November 2013
 
March 3, 2014
 
$
0.6624

 
$
—

December 2012 - February 2013
 
May 31, 2013
 
$
0.6900

 
$
0.3010

September 2012 - November 2012

March 1, 2013

$
0.6700


$
0.3772