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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents ($1 and $1 attributable to our VIE) $ 4 $ 825
Accounts receivable, net 893 1,129
Short-term derivative assets 0 366
Other current assets 170 160
Total Current Assets 1,067 2,480
Oil and natural gas properties, at cost based on full cost accounting:    
Proved oil and natural gas properties ($488 and $488 attributable to our VIE) 65,977 63,843
Unproved properties 5,198 6,798
Other property and equipment 2,096 2,927
Total Property and Equipment, at Cost 73,271 73,568
Less: accumulated depreciation, depletion and amortization (($457) and ($428) attributable to our VIE) (62,296) (59,365)
Property and equipment held for sale, net 76 95
Total Property and Equipment, Net 11,051 14,298
LONG-TERM ASSETS:    
Long-term derivative assets 0 246
Other long-term assets 405 290
TOTAL ASSETS 12,523 17,314
CURRENT LIABILITIES:    
Accounts payable 660 944
Current maturities of long-term debt, net 656 381
Accrued interest 137 101
Short-term derivative liabilities 160 40
Other current liabilities ($2 and $8 attributable to our VIE) 1,993 2,219
Total Current Liabilities 3,606 3,685
LONG-TERM LIABILITIES:    
Long-term debt, net 9,022 10,311
Long-term derivative liabilities 17 60
Asset retirement obligations, net of current portion 403 452
Other long-term liabilities 407 409
Total Long-Term Liabilities 9,849 11,232
CONTINGENCIES AND COMMITMENTS (Note 4)
Chesapeake Stockholders’ Equity:    
Preferred stock, $0.01 par value, 20,000,000 shares authorized: 7,225,713 and 7,251,515 shares outstanding 3,036 3,062
Common stock, $0.01 par value, 1,500,000,000 and 1,000,000,000 shares authorized: 777,020,715 and 664,795,509 shares issued 8 7
Additional paid-in capital 12,923 12,403
Accumulated deficit (17,028) (13,202)
Accumulated other comprehensive loss (101) (99)
Less: treasury stock, at cost; 1,289,587 and 1,437,724 common shares (29) (33)
Total Chesapeake Stockholders’ Equity (Deficit) (1,191) 2,138
Noncontrolling interests 259 259
Total Equity (Deficit) (932) 2,397
TOTAL LIABILITIES AND EQUITY $ 12,523 $ 17,314