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Segment Information (Notes)
 9 Months Ended
Sep. 30, 2016
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Information Disclosure
Segment Information
As of September 30, 2016, we have two reportable operating segments, each of which is managed separately because of the nature of its operations. The exploration and production operating segment is responsible for finding and producing oil, natural gas and NGL. The marketing, gathering and compression operating segment is responsible for marketing, gathering and compression of oil, natural gas and NGL.
Management evaluates the performance of our segments based upon income (loss) before income taxes. Revenues from the sale of oil, natural gas and NGL related to Chesapeake’s ownership interests by our marketing, gathering and compression operating segment are reflected as revenues within our exploration and production operating segment. These amounts totaled $1.025 billion, $1.046 billion, $2.656 billion and $3.483 billion for the Current Quarter, the Prior Quarter, the Current Period and the Prior Period, respectively.
During the Current Period, we changed the structure of our internal organization to include certain assets in our Exploration and Production reportable segment instead of our Other segment. Accordingly, this change has been reflected through retroactive revision of the segment information as of December 31, 2015, as shown in the tables below.
The following table presents selected financial information for Chesapeake’s operating segments:
 
 
Exploration
and
Production
 
Marketing,
Gathering
and
Compression 
 
Other  
 
Intercompany
Eliminations
 
Consolidated 
Total
 
 
($ in millions)
Three Months Ended
September 30, 2016
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
1,177

 
$
2,124

 
$
—

 
$
(1,025
)
 
$
2,276

Intersegment revenues
 
—

 
(1,025
)
 
—

 
1,025

 
—

Total revenues
 
$
1,177

 
$
1,099

 
$
—

 
$
—

 
$
2,276

 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before
Income Taxes
 
$
(710
)
 
$
(211
)
 
$
(231
)
 
$
(2
)
 
$
(1,154
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30, 2015
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
1,363

 
$
3,059

 
$
—

 
$
(1,046
)
 
$
3,376

Intersegment revenues
 
—

 
(1,046
)
 
—

 
1,046

 
—

Total revenues
 
$
1,363

 
$
2,013

 
$
—

 
$
—

 
$
3,376

 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before
Income Taxes
 
$
(5,625
)
 
$
70

 
$
(37
)
 
$
16

 
$
(5,576
)
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
September 30, 2016
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
2,610

 
$
5,897

 
$
—

 
$
(2,656
)
 
$
5,851

Intersegment revenues
 
—

 
(2,656
)
 
—

 
2,656

 
—

Total revenues
 
$
2,610

 
$
3,241

 
$
—

 
$
—

 
$
5,851

 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before
Income Taxes
 
$
(3,360
)
 
$
(215
)
 
$
(248
)
 
$
(2
)
 
$
(3,825
)
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended
September 30, 2015
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
4,122

 
$
9,476

 
$
—

 
$
(3,483
)
 
$
10,115

Intersegment revenues
 
—

 
(3,483
)
 
—

 
3,483

 
—

Total revenues
 
$
4,122

 
$
5,993

 
$
—

 
$
—

 
$
10,115

 
 
 
 
 
 
 
 
 
 
 
Income (Loss) Before
Income Taxes
 
$
(16,759
)
 
$
208

 
$
(82
)
 
$
369

 
$
(16,264
)
 
 
 
 
 
 
 
 
 
 
 
As of
September 30, 2016
 
 
 
 
 
 
 
 
 
 
Total Assets
 
$
10,674

 
$
971

 
$
1,195

 
$
(317
)
 
$
12,523

 
 
 
 
 
 
 
 
 
 
 
As of
December 31, 2015
 
 
 
 
 
 
 
 
 
 
Total Assets
(as previously reported)
 
$
11,776

 
$
1,524

 
$
4,325

 
$
(311
)
 
$
17,314

 
 
 
 
 
 
 
 
 
 
 
As of
December 31, 2015
 
 
 
 
 
 
 
 
 
 
Total Assets
(as revised)
 
$
14,610

 
$
1,524

 
$
1,491

 
$
(311
)
 
$
17,314