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Condensed Consolidating Financial Information | 9 Months Ended
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Sep. 30, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information Chesapeake Energy Corporation is a holding company, owns no operating assets and has no significant operations independent of its subsidiaries. Our obligations under our outstanding senior notes, contingent convertible senior notes and revolving credit facility listed in Note 3 are fully and unconditionally guaranteed, jointly and severally, by certain of our 100% owned subsidiaries. Subsidiaries with noncontrolling interests, consolidated variable interest entities and certain de minimis subsidiaries are non-guarantors. The tables below are condensed consolidating financial statements for Chesapeake Energy Corporation (parent) on a stand-alone, unconsolidated basis, and its combined guarantor and combined non-guarantor subsidiaries as of September 30, 2018 and December 31, 2017 and for the three and nine months ended September 30, 2018 and 2017. This financial information may not necessarily be indicative of our results of operations, cash flows or financial position had these subsidiaries operated as independent entities. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (4 | ) |  | $ | 4 |
Other current assets |  | 69 |  |  | 1,160 |  |  | 2 |  |  | — |  |  | 1,231 |
Intercompany receivable, net |  | 8,003 |  |  | 29 |  |  | 176 |  |  | (8,208 | ) |  | — |
Total Current Assets |  | 8,078 |  |  | 1,190 |  |  | 179 |  |  | (8,212 | ) |  | 1,235 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties at cost, based on full cost accounting, net |  | 563 |  |  | 9,433 |  |  | 25 |  |  | — |  |  | 10,021 |
Other property and equipment, net |  | — |  |  | 1,109 |  |  | — |  |  | — |  |  | 1,109 |
Property and equipment held for sale, net |  | — |  |  | 47 |  |  | — |  |  | — |  |  | 47 |
Total Property and Equipment, Net |  | 563 |  |  | 10,589 |  |  | 25 |  |  | — |  |  | 11,177 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 29 |  |  | 218 |  |  | — |  |  | — |  |  | 247 |
Investments in subsidiaries and intercompany advances |  | 1,193 |  |  | 79 |  |  | — |  |  | (1,272 | ) |  | — |
TOTAL ASSETS |  | $ | 9,863 |  |  | $ | 12,076 |  |  | $ | 204 |  |  | $ | (9,484 | ) |  | $ | 12,659 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 563 |  |  | $ | 2,415 |  |  | $ | 2 |  |  | $ | (4 | ) |  | $ | 2,976 |
Intercompany payable, net |  | 29 |  |  | 8,179 |  |  | — |  |  | (8,208 | ) |  | — |
Total Current Liabilities |  | 592 |  |  | 10,594 |  |  | 2 |  |  | (8,212 | ) |  | 2,976 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 9,380 |  |  | — |  |  | — |  |  | — |  |  | 9,380 |
Other long-term liabilities |  | 53 |  |  | 289 |  |  | — |  |  | — |  |  | 342 |
Total Long-Term Liabilities |  | 9,433 |  |  | 289 |  |  | — |  |  | — |  |  | 9,722 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity (deficit) |  | (162 | ) |  | 1,193 |  |  | 79 |  |  | (1,272 | ) |  | (162 | )
Noncontrolling interests |  | — |  |  | — |  |  | 123 |  |  | — |  |  | 123 |
Total Equity (Deficit) |  | (162 | ) |  | 1,193 |  |  | 202 |  |  | (1,272 | ) |  | (39 | )
TOTAL LIABILITIES AND EQUITY |  | $ | 9,863 |  |  | $ | 12,076 |  |  | $ | 204 |  |  | $ | (9,484 | ) |  | $ | 12,659 |
CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | (3 | ) |  | $ | 5 |
Other current assets |  | 154 |  |  | 1,364 |  |  | 3 |  |  | (1 | ) |  | 1,520 |
Intercompany receivable, net |  | 8,697 |  |  | 436 |  |  | — |  |  | (9,133 | ) |  | — |
Total Current Assets |  | 8,856 |  |  | 1,801 |  |  | 5 |  |  | (9,137 | ) |  | 1,525 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties at cost, based on full cost accounting, net |  | 435 |  |  | 8,888 |  |  | 27 |  |  | — |  |  | 9,350 |
Other property and equipment, net |  | — |  |  | 1,314 |  |  | — |  |  | — |  |  | 1,314 |
Property and equipment held for sale, net |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Total Property and Equipment, Net |  | 435 |  |  | 10,218 |  |  | 27 |  |  | — |  |  | 10,680 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 52 |  |  | 168 |  |  | — |  |  | — |  |  | 220 |
Investments in subsidiaries and intercompany advances |  | 806 |  |  | (146 | ) |  | — |  |  | (660 | ) |  | — |
TOTAL ASSETS |  | $ | 10,149 |  |  | $ | 12,041 |  |  | $ | 32 |  |  | $ | (9,797 | ) |  | $ | 12,425 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 190 |  |  | $ | 2,168 |  |  | $ | 2 |  |  | $ | (4 | ) |  | $ | 2,356 |
Intercompany payable, net |  | 433 |  |  | 8,648 |  |  | 52 |  |  | (9,133 | ) |  | — |
Total Current Liabilities |  | 623 |  |  | 10,816 |  |  | 54 |  |  | (9,137 | ) |  | 2,356 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 9,921 |  |  | — |  |  | — |  |  | — |  |  | 9,921 |
Other long-term liabilities |  | 101 |  |  | 419 |  |  | — |  |  | — |  |  | 520 |
Total Long-Term Liabilities |  | 10,022 |  |  | 419 |  |  | — |  |  | — |  |  | 10,441 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity (deficit) |  | (496 | ) |  | 806 |  |  | (146 | ) |  | (660 | ) |  | (496 | )
Noncontrolling interests |  | — |  |  | — |  |  | 124 |  |  | — |  |  | 124 |
Total Equity (Deficit) |  | (496 | ) |  | 806 |  |  | (22 | ) |  | (660 | ) |  | (372 | )
TOTAL LIABILITIES AND EQUITY |  | $ | 10,149 |  |  | $ | 12,041 |  |  | $ | 32 |  |  | $ | (9,797 | ) |  | $ | 12,425 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 1,194 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 1,199 |
Marketing |  | — |  |  | 1,219 |  |  | — |  |  | — |  |  | 1,219 |
Total Revenues |  | — |  |  | 2,413 |  |  | 5 |  |  | — |  |  | 2,418 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 132 |  |  | — |  |  | — |  |  | 132 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 362 |  |  | 2 |  |  | — |  |  | 364 |
Production taxes |  | — |  |  | 33 |  |  | 1 |  |  | — |  |  | 34 |
Marketing |  | — |  |  | 1,238 |  |  | — |  |  | — |  |  | 1,238 |
General and administrative |  | — |  |  | 66 |  |  | — |  |  | — |  |  | 66 |
Provision for legal contingencies, net |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 274 |  |  | — |  |  | — |  |  | 274 |
Depreciation and amortization of other assets |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Impairments |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Total Operating Expenses |  | — |  |  | 2,135 |  |  | 3 |  |  | — |  |  | 2,138 |
INCOME FROM OPERATIONS |  | — |  |  | 278 |  |  | 2 |  |  | — |  |  | 280 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (125 | ) |  | (2 | ) |  | — |  |  | — |  |  | (127 | )
Losses on purchases or exchanges of debt |  | (68 | ) |  | — |  |  | — |  |  | — |  |  | (68 | )
Other income |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Equity in net earnings of subsidiary |  | 278 |  |  | 1 |  |  | — |  |  | (279 | ) |  | — |
Total Other Income (Expense) |  | 85 |  |  | — |  |  | — |  |  | (279 | ) |  | (194 | )
INCOME BEFORE INCOME TAXES |  | 85 |  |  | 278 |  |  | 2 |  |  | (279 | ) |  | 86 |
INCOME TAX EXPENSE |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
NET INCOME |  | 84 |  |  | 278 |  |  | 2 |  |  | (279 | ) |  | 85 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 84 |  |  | 278 |  |  | 1 |  |  | (279 | ) |  | 84 |
Other comprehensive income |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 84 |  |  | $ | 286 |  |  | $ | 1 |  |  | $ | (279 | ) |  | $ | 92 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 974 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 979 |
Marketing |  | — |  |  | 964 |  |  | — |  |  | — |  |  | 964 |
Total Revenues |  | — |  |  | 1,938 |  |  | 5 |  |  | — |  |  | 1,943 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 151 |  |  | — |  |  | — |  |  | 151 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 367 |  |  | 2 |  |  | — |  |  | 369 |
Production taxes |  | — |  |  | 20 |  |  | 1 |  |  | — |  |  | 21 |
Marketing |  | — |  |  | 978 |  |  | — |  |  | — |  |  | 978 |
General and administrative |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Provision for legal contingencies, net |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 227 |  |  | 1 |  |  | — |  |  | 228 |
Depreciation and amortization of other assets |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Impairments |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Net gains on sales of fixed assets |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Other operating expense |  | — |  |  | 6 |  |  | — |  |  | — |  |  | 6 |
Total Operating Expenses |  | — |  |  | 1,845 |  |  | 4 |  |  | — |  |  | 1,849 |
INCOME FROM OPERATIONS |  | — |  |  | 93 |  |  | 1 |  |  | — |  |  | 94 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (110 | ) |  | (4 | ) |  | — |  |  | — |  |  | (114 | )
Losses on purchases or exchanges of debt |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Other income |  | 1 |  |  | 3 |  |  | — |  |  | — |  |  | 4 |
Equity in net earnings of subsidiary |  | 92 |  |  | — |  |  | — |  |  | (92 | ) |  | — |
Total Other Income (Expense) |  | (18 | ) |  | (1 | ) |  | — |  |  | (92 | ) |  | (111 | )
INCOME (LOSS) BEFORE INCOME TAXES |  | (18 | ) |  | 92 |  |  | 1 |  |  | (92 | ) |  | (17 | )
INCOME TAX EXPENSE |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NET INCOME (LOSS) |  | (18 | ) |  | 92 |  |  | 1 |  |  | (92 | ) |  | (17 | )
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | (18 | ) |  | 92 |  |  | — |  |  | (92 | ) |  | (18 | )
Other comprehensive income |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | $ | (18 | ) |  | $ | 100 |  |  | $ | — |  |  | $ | (92 | ) |  | $ | (10 | )
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 3,410 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 3,424 |
Marketing |  | — |  |  | 3,738 |  |  | — |  |  | — |  |  | 3,738 |
Total Revenues |  | — |  |  | 7,148 |  |  | 14 |  |  | — |  |  | 7,162 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 417 |  |  | — |  |  | — |  |  | 417 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 1,055 |  |  | 5 |  |  | — |  |  | 1,060 |
Production taxes |  | — |  |  | 90 |  |  | 1 |  |  | — |  |  | 91 |
Marketing |  | — |  |  | 3,798 |  |  | — |  |  | — |  |  | 3,798 |
General and administrative |  | — |  |  | 228 |  |  | 1 |  |  | — |  |  | 229 |
Restructuring and other termination costs |  | — |  |  | 38 |  |  | — |  |  | — |  |  | 38 |
Provision for legal contingencies, net |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 811 |  |  | 2 |  |  | — |  |  | 813 |
Depreciation and amortization of other assets |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Impairments |  | — |  |  | 51 |  |  | — |  |  | — |  |  | 51 |
Other operating income |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Net losses on sales of fixed assets |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
Total Operating Expenses |  | — |  |  | 6,565 |  |  | 9 |  |  | — |  |  | 6,574 |
INCOME FROM OPERATIONS |  | — |  |  | 583 |  |  | 5 |  |  | — |  |  | 588 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (365 | ) |  | (2 | ) |  | — |  |  | — |  |  | (367 | )
Gains on investments |  | — |  |  | 139 |  |  | — |  |  | — |  |  | 139 |
Losses on exchanges or repurchases of debt |  | (68 | ) |  | — |  |  | — |  |  | — |  |  | (68 | )
Other income |  | — |  |  | 63 |  |  | — |  |  | — |  |  | 63 |
Equity in net earnings of subsidiary |  | 785 |  |  | 2 |  |  | — |  |  | (787 | ) |  | — |
Total Other Income (Expense) |  | 352 |  |  | 202 |  |  | — |  |  | (787 | ) |  | (233 | )
INCOME BEFORE INCOME TAXES |  | 352 |  |  | 785 |  |  | 5 |  |  | (787 | ) |  | 355 |
INCOME TAX BENEFIT |  | (8 | ) |  | — |  |  | — |  |  | — |  |  | (8 | )
NET INCOME |  | 360 |  |  | 785 |  |  | 5 |  |  | (787 | ) |  | 363 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 360 |  |  | 785 |  |  | 2 |  |  | (787 | ) |  | 360 |
Other comprehensive income |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 25 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 360 |  |  | $ | 810 |  |  | $ | 2 |  |  | $ | (787 | ) |  | $ | 385 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 3,710 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 3,727 |
Marketing |  | — |  |  | 3,250 |  |  | — |  |  | — |  |  | 3,250 |
Total Revenues |  | — |  |  | 6,960 |  |  | 17 |  |  | — |  |  | 6,977 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 426 |  |  | — |  |  | — |  |  | 426 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 1,075 |  |  | 6 |  |  | — |  |  | 1,081 |
Production taxes |  | — |  |  | 63 |  |  | 1 |  |  | — |  |  | 64 |
Marketing |  | — |  |  | 3,333 |  |  | — |  |  | — |  |  | 3,333 |
General and administrative |  | 3 |  |  | 185 |  |  | 1 |  |  | — |  |  | 189 |
Provision for legal contingencies, net |  | — |  |  | 35 |  |  | — |  |  | — |  |  | 35 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 624 |  |  | 3 |  |  | — |  |  | 627 |
Depreciation and amortization of other assets |  | — |  |  | 62 |  |  | — |  |  | — |  |  | 62 |
Impairments |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Other operating expense |  | — |  |  | 423 |  |  | — |  |  | — |  |  | 423 |
Total Operating Expenses |  | 3 |  |  | 6,229 |  |  | 11 |  |  | — |  |  | 6,243 |
INCOME (LOSS) FROM OPERATIONS |  | (3 | ) |  | 731 |  |  | 6 |  |  | — |  |  | 734 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (300 | ) |  | (2 | ) |  | — |  |  | — |  |  | (302 | )
Gains on purchases or exchanges of debt |  | 183 |  |  | — |  |  | — |  |  | — |  |  | 183 |
Other income |  | 1 |  |  | 5 |  |  | — |  |  | — |  |  | 6 |
Equity in net earnings of subsidiary |  | 737 |  |  | 3 |  |  | — |  |  | (740 | ) |  | — |
Total Other Income (Expense) |  | 621 |  |  | 6 |  |  | — |  |  | (740 | ) |  | (113 | )
INCOME BEFORE INCOME TAXES |  | 618 |  |  | 737 |  |  | 6 |  |  | (740 | ) |  | 621 |
INCOME TAX EXPENSE |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
NET INCOME |  | 616 |  |  | 737 |  |  | 6 |  |  | (740 | ) |  | 619 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 616 |  |  | 737 |  |  | 3 |  |  | (740 | ) |  | 616 |
Other comprehensive income |  | — |  |  | 29 |  |  | — |  |  | — |  |  | 29 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 616 |  |  | $ | 766 |  |  | $ | 3 |  |  | $ | (740 | ) |  | $ | 645 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | 86 |  |  | $ | 1,512 |  |  | $ | 7 |  |  | $ | (10 | ) |  | $ | 1,595 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (1,481 | ) |  | — |  |  | — |  |  | (1,481 | )
Acquisitions of proved and unproved properties |  | — |  |  | (244 | ) |  | — |  |  | — |  |  | (244 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 395 |  |  | — |  |  | — |  |  | 395 |
Additions to other property and equipment |  | — |  |  | (11 | ) |  | — |  |  | — |  |  | (11 | )
Other investing activities |  | — |  |  | 149 |  |  | — |  |  | — |  |  | 149 |
Net Cash Used In Investing Activities |  | — |  |  | (1,192 | ) |  | — |  |  | — |  |  | (1,192 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 9,095 |  |  | — |  |  | — |  |  | — |  |  | 9,095 |
Payments on revolving credit facility borrowings |  | (9,231 | ) |  | — |  |  | — |  |  | — |  |  | (9,231 | )
Proceeds from issuance of senior notes, net |  | 1,237 |  |  | — |  |  | — |  |  | — |  |  | 1,237 |
Cash paid to purchase debt |  | (1,285 | ) |  | — |  |  | — |  |  | — |  |  | (1,285 | )
Cash paid for preferred stock dividends |  | (69 | ) |  | — |  |  | — |  |  | — |  |  | (69 | )
Other financing activities |  | (2 | ) |  | (127 | ) |  | (9 | ) |  | (13 | ) |  | (151 | )
Intercompany advances, net |  | 170 |  |  | (193 | ) |  | 1 |  |  | 22 |  |  | — |
Net Cash Used In Financing Activities |  | (85 | ) |  | (320 | ) |  | (8 | ) |  | 9 |  |  | (404 | )
Net increase (decrease) in cash and cash equivalents |  | 1 |  |  | — |  |  | (1 | ) |  | (1 | ) |  | (1 | )
Cash and cash equivalents, beginning of period |  | 5 |  |  | 1 |  |  | 2 |  |  | (3 | ) |  | 5 |
Cash and cash equivalents, end of period |  | $ | 6 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (4 | ) |  | $ | 4 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | 4 |  |  | $ | 266 |  |  | $ | 11 |  |  | $ | (8 | ) |  | $ | 273 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (1,597 | ) |  | — |  |  | — |  |  | (1,597 | )
Acquisitions of proved and unproved properties |  | — |  |  | (226 | ) |  | — |  |  | — |  |  | (226 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 1,193 |  |  | — |  |  | — |  |  | 1,193 |
Additions to other property and equipment |  | — |  |  | (12 | ) |  | — |  |  | — |  |  | (12 | )
Other investing activities |  | — |  |  | 40 |  |  | — |  |  | — |  |  | 40 |
Net Cash Used In Investing Activities |  | — |  |  | (602 | ) |  | — |  |  | — |  |  | (602 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 4,775 |  |  | — |  |  | — |  |  | — |  |  | 4,775 |
Payments on revolving credit facility borrowings |  | (4,130 | ) |  | — |  |  | — |  |  | — |  |  | (4,130 | )
Proceeds from issuance of senior notes, net |  | 742 |  |  | — |  |  | — |  |  | — |  |  | 742 |
Cash paid to purchase debt |  | (1,751 | ) |  | — |  |  | — |  |  | — |  |  | (1,751 | )
Cash paid for preferred stock dividends |  | (160 | ) |  | — |  |  | — |  |  | — |  |  | (160 | )
Other financing activities |  | (36 | ) |  | (4 | ) |  | (11 | ) |  | 27 |  |  | (24 | )
Intercompany advances, net |  | (339 | ) |  | 339 |  |  | — |  |  | — |  |  | — |
Net Cash Provided by (Used In) Financing Activities |  | (899 | ) |  | 335 |  |  | (11 | ) |  | 27 |  |  | (548 | )
Net increase (decrease) in cash and cash equivalents |  | (895 | ) |  | (1 | ) |  | — |  |  | 19 |  |  | (877 | )
Cash and cash equivalents, beginning of period |  | 904 |  |  | 2 |  |  | 1 |  |  | (25 | ) |  | 882 |
Cash and cash equivalents, end of period |  | $ | 9 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (6 | ) |  | $ | 5 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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