v2.4.0.8

Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2014
Condensed Consolidating Financial Information |
Schedule of condensed consolidating statement of operations | The following tables include the consolidating adjustments necessary to present the condensed financial statements on a consolidated basis (in millions):
|  | Three months ended June 30, 2014 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Operating revenues |  | $ | — |  | $ | — |  | $ | 2,333 |  | $ | (5 | ) | $ | 2,328 |
Cost and expenses |  | 9 |  | 1 |  | 1,559 |  | (5 | ) | 1,564 |
Gain on disposal of assets, net |  | — |  | — |  | 1 |  | — |  | 1 |
Operating income (loss) |  | (9 | ) | (1 | ) | 775 |  | — |  | 765 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  | (16 | ) | (417 | ) | 336 |  | — |  | (97 | )
Equity in earnings |  | 612 |  | 1,019 |  | — |  | (1,631 | ) | — |
Other, net |  | — |  | — |  | 8 |  | — |  | 8 |
|  | 596 |  | 602 |  | 344 |  | (1,631 | ) | (89 | )
Income from continuing operations before income tax expense |  | 587 |  | 601 |  | 1,119 |  | (1,631 | ) | 676 |
Income tax expense |  | — |  | — |  | 72 |  | — |  | 72 |
Income from continuing operations |  | 587 |  | 601 |  | 1,047 |  | (1,631 | ) | 604 |
Loss from discontinued operations, net of tax |  | — |  | (1 | ) | (6 | ) | — |  | (7 | )
Net Income |  | 587 |  | 600 |  | 1,041 |  | (1,631 | ) | 597 |
Net income attributable to noncontrolling interest |  | — |  | — |  | 10 |  | — |  | 10 |
Net income attributable to controlling interest |  | 587 |  | 600 |  | 1,031 |  | (1,631 | ) | 587 |
Other comprehensive income (loss) before income taxes |  | 14 |  | 63 |  | 1 |  | — |  | 78 |
Income taxes related to other comprehensive loss |  | — |  | — |  | (3 | ) | — |  | (3 | )
Other comprehensive income (loss), net of income taxes |  | 14 |  | 63 |  | (2 | ) | — |  | 75 |
Total comprehensive income |  | 601 |  | 663 |  | 1,039 |  | (1,631 | ) | 672 |
Total comprehensive income attributable to noncontrolling interest |  | — |  | — |  | 10 |  | — |  | 10 |
Total comprehensive income attributable to controlling interest |  | $ | 601 |  | $ | 663 |  | $ | 1,029 |  | $ | (1,631 | ) | $ | 662 |
|  | Three months ended June 30, 2013 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Operating revenues |  | $ | — |  | $ | — |  | $ | 2,370 |  | $ | (6 | ) | $ | 2,364 |
Cost and expenses |  | 17 |  | 1 |  | 1,708 |  | (6 | ) | 1,720 |
Loss on impairment |  | — |  | — |  | (37 | ) | — |  | (37 | )
Loss on disposal of assets, net |  | — |  | — |  | (2 | ) | — |  | (2 | )
Operating income (loss) |  | (17 | ) | (1 | ) | 623 |  | — |  | 605 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  | (3 | ) | (129 | ) | (3 | ) | — |  | (135 | )
Equity in earnings |  | 327 |  | 469 |  | — |  | (796 | ) | — |
Other, net |  | — |  | (5 | ) | (11 | ) | — |  | (16 | )
|  | 324 |  | 335 |  | (14 | ) | (796 | ) | (151 | )
Income from continuing operations before income tax expense |  | 307 |  | 334 |  | 609 |  | (796 | ) | 454 |
Income tax expense |  | — |  | — |  | 132 |  | — |  | 132 |
Income from continuing operations |  | 307 |  | 334 |  | 477 |  | (796 | ) | 322 |
Gain (loss) from discontinued operations, net of tax |  | — |  | (25 | ) | 14 |  | — |  | (11 | )
Net Income |  | 307 |  | 309 |  | 491 |  | (796 | ) | 311 |
Net income attributable to noncontrolling interest |  | — |  | — |  | 4 |  | — |  | 4 |
Net income attributable to controlling interest |  | 307 |  | 309 |  | 487 |  | (796 | ) | 307 |
Other comprehensive income before income taxes |  | — |  | 93 |  | 14 |  | — |  | 107 |
Income taxes related to other comprehensive loss |  | — |  | — |  | (1 | ) | — |  | (1 | )
Other comprehensive income, net of income taxes |  | — |  | 93 |  | 13 |  | — |  | 106 |
Total comprehensive income |  | 307 |  | 402 |  | 504 |  | (796 | ) | 417 |
Total comprehensive income attributable to noncontrolling interest |  | — |  | — |  | 4 |  | — |  | 4 |
Total comprehensive income attributable to controlling interest |  | $ | 307 |  | $ | 402 |  | $ | 500 |  | $ | (796 | ) | $ | 413 |
|  | Six months ended June 30, 2014 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Operating revenues |  | $ | — |  | $ | — |  | $ | 4,676 |  | $ | (9 | ) | $ | 4,667 |
Cost and expenses |  | 18 |  | 2 |  | 3,152 |  | (9 | ) | 3,163 |
Loss on impairment |  | — |  | — |  | (65 | ) | — |  | (65 | )
Loss on disposal of assets, net |  | — |  | — |  | (2 | ) | — |  | (2 | )
Operating income (loss) |  | (18 | ) | (2 | ) | 1,457 |  | — |  | 1,437 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  | (10 | ) | (278 | ) | 75 |  | — |  | (213 | )
Equity in earnings |  | 1,071 |  | 1,306 |  | — |  | (2,377 | ) | — |
Other, net |  | — |  | 1 |  | 5 |  | — |  | 6 |
|  | 1,061 |  | 1,029 |  | 80 |  | (2,377 | ) | (207 | )
Income from continuing operations before income tax expense |  | 1,043 |  | 1,027 |  | 1,537 |  | (2,377 | ) | 1,230 |
Income tax expense |  | — |  | — |  | 152 |  | — |  | 152 |
Income from continuing operations |  | 1,043 |  | 1,027 |  | 1,385 |  | (2,377 | ) | 1,078 |
Gain (loss) from discontinued operations, net of tax |  | — |  | 3 |  | (18 | ) | — |  | (15 | )
Net Income |  | 1,043 |  | 1,030 |  | 1,367 |  | (2,377 | ) | 1,063 |
Net income attributable to noncontrolling interest |  | — |  | — |  | 20 |  | — |  | 20 |
Net income attributable to controlling interest |  | 1,043 |  | 1,030 |  | 1,347 |  | (2,377 | ) | 1,043 |
Other comprehensive income before income taxes |  | 12 |  | 57 |  | 8 |  | — |  | 77 |
Income taxes related to other comprehensive loss |  | — |  | — |  | (3 | ) | — |  | (3 | )
Other comprehensive income, net of income taxes |  | 12 |  | 57 |  | 5 |  | — |  | 74 |
Total comprehensive income |  | 1,055 |  | 1,087 |  | 1,372 |  | (2,377 | ) | 1,137 |
Total comprehensive income attributable to noncontrolling interest |  | — |  | — |  | 20 |  | — |  | 20 |
Total comprehensive income attributable to controlling interest |  | $ | 1,055 |  | $ | 1,087 |  | $ | 1,352 |  | $ | (2,377 | ) | $ | 1,117 |
|  | Six months ended June 30, 2013 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Operating revenues |  | $ | — |  | $ | — |  | $ | 4,559 |  | $ | (11 | ) | $ | 4,548 |
Cost and expenses |  | 26 |  | 5 |  | 3,401 |  | (11 | ) | 3,421 |
Loss on impairment |  | — |  | — |  | (37 | ) | — |  | (37 | )
Loss on disposal of assets, net |  | — |  | — |  | (9 | ) | — |  | (9 | )
Operating income (loss) |  | (26 | ) | (5 | ) | 1,112 |  | — |  | 1,081 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  | (6 | ) | (266 | ) | (3 | ) | — |  | (275 | )
Equity in earnings |  | 660 |  | 941 |  | — |  | (1,601 | ) | — |
Other, net |  | — |  | 5 |  | (22 | ) | — |  | (17 | )
|  | 654 |  | 680 |  | (25 | ) | (1,601 | ) | (292 | )
Income from continuing operations before income tax expense |  | 628 |  | 675 |  | 1,087 |  | (1,601 | ) | 789 |
Income tax expense |  | — |  | — |  | 151 |  | — |  | 151 |
Income from continuing operations |  | 628 |  | 675 |  | 936 |  | (1,601 | ) | 638 |
Gain (loss) from discontinued operations, net of tax |  | — |  | (55 | ) | 41 |  | — |  | (14 | )
Net Income |  | 628 |  | 620 |  | 977 |  | (1,601 | ) | 624 |
Net loss attributable to noncontrolling interest |  | — |  | — |  | (4 | ) | — |  | (4 | )
Net income attributable to controlling interest |  | 628 |  | 620 |  | 981 |  | (1,601 | ) | 628 |
Other comprehensive income (loss) before income taxes |  | (6 | ) | 72 |  | 22 |  | — |  | 88 |
Income taxes related to other comprehensive loss |  | — |  | — |  | — |  | — |  | — |
Other comprehensive income (loss), net of income taxes |  | (6 | ) | 72 |  | 22 |  | — |  | 88 |
Total comprehensive income |  | 622 |  | 692 |  | 999 |  | (1,601 | ) | 712 |
Total comprehensive loss attributable to noncontrolling interest |  | — |  | — |  | (3 | ) | — |  | (3 | )
Total comprehensive income attributable to controlling interest |  | $ | 622 |  | $ | 692 |  | $ | 1,002 |  | $ | (1,601 | ) | $ | 715 |
Schedule of condensed consolidating balance sheet | The following tables include the consolidating adjustments necessary to present the condensed financial statements on a consolidated basis (in millions):
|  | June 30, 2014 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4 |  | $ | 793 |  | $ | 1,320 |  | $ | — |  | $ | 2,117 |
Other current assets |  | 11 |  | 1,315 |  | 4,722 |  | (2,405 | ) | 3,643 |
Total current assets |  | 15 |  | 2,108 |  | 6,042 |  | (2,405 | ) | 5,760 |
Property and equipment, net |  | — |  | — |  | 22,381 |  | — |  | 22,381 |
Goodwill |  | — |  | — |  | 2,987 |  | — |  | 2,987 |
Investment in affiliates |  | 17,605 |  | 32,620 |  | — |  | (50,225 | ) | — |
Other assets |  | — |  | 1,784 |  | 20,151 |  | (20,996 | ) | 939 |
Total assets |  | 17,620 |  | 36,512 |  | 51,561 |  | (73,626 | ) | 32,067 |
Liabilities and equity |  |  |  |  |  |  |  |  |  |  |
Debt due within one year |  | — |  | — |  | 159 |  | — |  | 159 |
Other current liabilities |  | 833 |  | 635 |  | 4,175 |  | (2,405 | ) | 3,238 |
Total current liabilities |  | 833 |  | 635 |  | 4,334 |  | (2,405 | ) | 3,397 |
Long-term debt |  | — |  | 19,181 |  | 12,113 |  | (20,996 | ) | 10,298 |
Other long-term liabilities |  | 23 |  | 151 |  | 1,419 |  | — |  | 1,593 |
Total long-term liabilities |  | 23 |  | 19,332 |  | 13,532 |  | (20,996 | ) | 11,891 |
Commitments and contingencies |  |  |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interest |  | — |  | — |  | 4 |  | — |  | 4 |
Total equity |  | 16,764 |  | 16,545 |  | 33,691 |  | (50,225 | ) | 16,775 |
Total liabilities and equity |  | $ | 17,620 |  | $ | 36,512 |  | $ | 51,561 |  | $ | (73,626 | ) | $ | 32,067 |
|  | December 31, 2013 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4 |  | $ | 1,617 |  | $ | 1,622 |  | $ | — |  | $ | 3,243 |
Other current assets |  | 22 |  | 1,302 |  | 4,607 |  | (2,402 | ) | 3,529 |
Total current assets |  | 26 |  | 2,919 |  | 6,229 |  | (2,402 | ) | 6,772 |
Property and equipment, net |  | — |  | — |  | 21,707 |  | — |  | 21,707 |
Goodwill |  | — |  | — |  | 2,987 |  | — |  | 2,987 |
Investment in affiliates |  | 16,914 |  | 31,308 |  | — |  | (48,222 | ) | — |
Other assets |  | — |  | 1,190 |  | 19,954 |  | (20,064 | ) | 1,080 |
Total assets |  | 16,940 |  | 35,417 |  | 50,877 |  | (70,688 | ) | 32,546 |
Liabilities and equity |  |  |  |  |  |  |  |  |  |  |
Debt due within one year |  | — |  | — |  | 323 |  | — |  | 323 |
Other current liabilities |  | 214 |  | 526 |  | 4,893 |  | (2,402 | ) | 3,231 |
Total current liabilities |  | 214 |  | 526 |  | 5,216 |  | (2,402 | ) | 3,554 |
Long-term debt |  | — |  | 18,759 |  | 11,684 |  | (20,064 | ) | 10,379 |
Other long-term liabilities |  | 35 |  | 232 |  | 1,661 |  | — |  | 1,928 |
Total long-term liabilities |  | 35 |  | 18,991 |  | 13,345 |  | (20,064 | ) | 12,307 |
Commitments and contingencies |  |  |  |  |  |  |  |  |  |  |
Total equity |  | 16,691 |  | 15,900 |  | 32,316 |  | (48,222 | ) | 16,685 |
Total liabilities and equity |  | $ | 16,940 |  | $ | 35,417 |  | $ | 50,877 |  | $ | (70,688 | ) | $ | 32,546
Schedule of condensed consolidating statement of cash flows | The following tables include the consolidating adjustments necessary to present the condensed financial statements on a consolidated basis (in millions):
|  | Six months ended June 30, 2014 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Cash flows from operating activities |  | $ | 261 |  | $ | (546 | ) | $ | 1,057 |  | $ | — |  | $ | 772 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | — |  | (1,482 | ) | — |  | (1,482 | )
Proceeds from disposal of assets, net |  | — |  | — |  | 101 |  | — |  | 101 |
Proceeds from disposal of assets in discontinued operations, net |  | — |  | — |  | 36 |  | — |  | 36 |
Proceeds from repayment of notes receivable |  | — |  | — |  | 101 |  | — |  | 101 |
Investing activities with affiliates, net |  | — |  | (151 | ) | 132 |  | 19 |  | — |
Other, net |  | — |  | — |  | (15 | ) | — |  | (15 | )
Net cash provided by (used in) investing activities |  | — |  | (151 | ) | (1,127 | ) | 19 |  | (1,259 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |
Repayments of debt |  | — |  | — |  | (243 | ) | — |  | (243 | )
Proceeds from restricted cash investments |  | — |  | — |  | 107 |  | — |  | 107 |
Deposits to restricted cash investments |  | — |  | — |  | (20 | ) | — |  | (20 | )
Distribution of qualifying additional paid-in capital |  | (474 | ) | — |  | — |  | — |  | (474 | )
Financing activities with affiliates, net |  | 217 |  | (122 | ) | (76 | ) | (19 | ) | — |
Other, net |  | (4 | ) | (5 | ) | — |  | — |  | (9 | )
Net cash used in financing activities |  | (261 | ) | (127 | ) | (232 | ) | (19 | ) | (639 | )
Net decrease in cash and cash equivalents |  | — |  | (824 | ) | (302 | ) | — |  | (1,126 | )
Cash and cash equivalents at beginning of period |  | 4 |  | 1,617 |  | 1,622 |  | — |  | 3,243 |
Cash and cash equivalents at end of period |  | $ | 4 |  | $ | 793 |  | $ | 1,320 |  | $ | — |  | $ | 2,117 |
|  | Six months ended June 30, 2013 |
|  | Parent Guarantor |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating adjustments |  | Consolidated |
Cash flows from operating activities |  | $ | (26 | ) | $ | (340 | ) | $ | 888 |  | $ | — |  | $ | 522 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | — |  | (840 | ) | — |  | (840 | )
Proceeds from disposal of assets, net |  | — |  | — |  | 4 |  | — |  | 4 |
Proceeds from disposal of discontinued operations, net |  | — |  | — |  | 63 |  | — |  | 63 |
Proceeds from sale of preference shares |  | — |  | 185 |  | — |  | — |  | 185 |
Proceeds from repayment of notes receivable |  | — |  | — |  | 11 |  | — |  | 11 |
Investing activities with affiliates, net |  | — |  | (700 | ) | (204 | ) | 904 |  | — |
Other, net |  | — |  | — |  | 1 |  | — |  | 1 |
Net cash used in investing activities |  | — |  | (515 | ) | (965 | ) | 904 |  | (576 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |
Repayments of debt |  | — |  | (562 | ) | (1,034 | ) | — |  | (1,596 | )
Proceeds from restricted cash investments |  | — |  | — |  | 206 |  | — |  | 206 |
Deposits to restricted cash investments |  | — |  | — |  | (104 | ) | — |  | (104 | )
Distribution of qualifying additional paid-in capital |  | (202 | ) | — |  | — |  | — |  | (202 | )
Financing activities with affiliates, net |  | 207 |  | (33 | ) | 730 |  | (904 | ) | — |
Other, net |  | (2 | ) | (13 | ) | (12 | ) | — |  | (27 | )
Net cash provided by (used in) financing activities |  | 3 |  | (608 | ) | (214 | ) | (904 | ) | (1,723 | )
Net decrease in cash and cash equivalents |  | (23 | ) | (1,463 | ) | (291 | ) | — |  | (1,777 | )
Cash and cash equivalents at beginning of period |  | 24 |  | 3,155 |  | 1,955 |  | — |  | 5,134 |
Cash and cash equivalents at end of period |  | $ | 1 |  | $ | 1,692 |  | $ | 1,664 |  | $ | — |  | $ | 3,357

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