XML 62 R42.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of components of the income tax provision (benefit) | The components of the income tax expense (benefit) for each of the periods presented below are as follows:
|  | Successor |  |  | Predecessor
|  | Year Ended December 31, 2022 |  | Period from February 10, 2021 through December 31, 2021 |  |  | Period from January 1, 2021 through February 9, 2021 |  | Year Ended December 31, 2020
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | 37 |  |  | $ | — |  |  |  | $ | — |  |  | $ | (3) |
State |  | 10 |  |  | — |  |  |  | — |  |  | (6) |
Current Income Taxes |  | 47 |  |  | — |  |  |  | — |  |  | (9) |
Deferred |  |  |  |  |  |  |  |  |
Federal |  | (1,112) |  |  | (45) |  |  |  | (54) |  |  | — |
State |  | (220) |  |  | (4) |  |  |  | (3) |  |  | (10) |
Deferred Income Taxes |  | (1,332) |  |  | (49) |  |  |  | (57) |  |  | (10) |
Total |  | $ | (1,285) |  |  | $ | (49) |  |  |  | $ | (57) |  |  | $ | (19) |
Schedule of effective income tax expense (benefit) | The income tax expense (benefit) reported in our consolidated statement of operations is different from the federal income tax expense (benefit) computed using the federal statutory rate for the following reasons:
|  | Successor |  |  | Predecessor
|  | Year Ended December 31, 2022 |  | Period from February 10, 2021 through December 31, 2021 |  |  | Period from January 1, 2021 through February 9, 2021 |  | Year Ended December 31, 2020
Income tax expense (benefit) at the federal statutory rate of 21% |  | $ | 767 |  |  | $ | 188 |  |  |  | $ | 1,119 |  |  | $ | (2,051) |
State income taxes (net of federal income tax benefit) |  | 75 |  |  | (86) |  |  |  | 238 |  |  | (41) |
Change in valuation allowance due to Acquisitions |  | 19 |  |  | (49) |  |  |  | — |  |  | — |
Change in valuation allowance excluding impact of Acquisitions |  | (2,147) |  |  | (179) |  |  |  | (1,191) |  |  | 2,010 |
Reorganization items |  | — |  |  | 60 |  |  |  | (173) |  |  | 41 |
Transaction costs |  | 2 |  |  | 11 |  |  |  | — |  |  | — |
Removal of stranded tax effects in accumulated other comprehensive income |  | — |  |  | — |  |  |  | (57) |  |  | — |
Other |  | (1) |  |  | 6 |  |  |  | 7 |  |  | 22 |
Total |  | $ | (1,285) |  |  | $ | (49) |  |  |  | $ | (57) |  |  | $ | (19) |
Schedule of deferred tax assets and liabilities | The tax-effected temporary differences, net operating loss (“NOL”) carryforwards and excess business interest expense carryforwards that comprise our deferred income taxes are as follows:
|  | Successor
|  | December 31, 2022 |  | December 31, 2021
Deferred tax liabilities: |  |  |  |
Property, plant and equipment |  | $ | (253) |  |  | $ | — |
Other |  | (5) |  |  | (3) |
Deferred tax liabilities |  | (258) |  |  | (3) |
Deferred tax assets: |  |  |  |
Property, plant and equipment |  | — |  |  | 340 |
Net operating loss carryforwards |  | 870 |  |  | 784 |
Carrying value of debt |  | 29 |  |  | 31 |
Excess business interest expense carryforward |  | 665 |  |  | 684 |
Asset retirement obligations |  | 91 |  |  | 86 |
Investments |  | 11 |  |  | 66 |
Accrued liabilities |  | 21 |  |  | 38 |
Derivative instruments |  | 137 |  |  | 289 |
Other |  | 130 |  |  | 68 |
Deferred tax assets |  | 1,954 |  |  | 2,386 |
Valuation allowance |  | (345) |  |  | (2,383) |
Deferred tax assets after valuation allowance |  | 1,609 |  |  | 3 |
Net deferred tax asset |  | $ | 1,351 |  |  | $ | — |
Schedule of federal NOLs and excess business interest | As of December 31, 2022, and after taking into account each of the foregoing matters, the federal NOLs and excess business interest attributes are as follows:
| Attributes subject to Section 382 base annual limitation |  |  | Attributes not subject to Section 382 limitation
| $54 million |  | $2 million |  |
Net operating losses, by year of expiration: |  |  |  |  |  |
2037 | $ | 814 |  |  | $ | 24 |  |  |  | $ | — |
Indefinitely lived | 2,265 |  |  | 102 |  |  |  | — |
Total federal net operating losses | $ | 3,079 |  |  | $ | 126 |  |  |  | $ | — |
Excess business interest expense (indefinitely lived) | $ | 1,435 |  |  | $ | 90 |  |  |  | $ | 1,368 |
Schedule of reconciliation of unrecognized tax benefits | A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:
|  | Successor |  |  | Predecessor
|  | Year Ended December 31, 2022 |  | Period from February 10, 2021 through December 31, 2021 |  |  | Period from January 1, 2021 through February 9, 2021 |  | Year Ended December 31, 2020
Unrecognized tax benefits at beginning of period |  | $ | 74 |  |  | $ | 74 |  |  |  | $ | 74 |  |  | $ | 74 |
Additions based on tax positions related to the current year |  | 2 |  |  | — |  |  |  | — |  |  | — |
Additions to tax positions of prior years |  | 2 |  |  | — |  |  |  | — |  |  | — |
Settlements |  | — |  |  | — |  |  |  | — |  |  | — |
Expiration of the applicable statute of limitations |  | — |  |  | — |  |  |  | — |  |  | — |
Reductions to tax positions of prior years |  | (9) |  |  | — |  |  |  | — |  |  | — |
Unrecognized tax benefits at end of period |  | $ | 69 |  |  | $ | 74 |  |  |  | $ | 74 |  |  | $ | 74 |

X
- Definition Schedule Of Federal NOLs And Excess Business Interest + References No definition available. + Details
Name: | chk_ScheduleOfFederalNOLsAndExcessBusinessInterestTableTextBlock
Namespace Prefix: | chk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration