v2.4.0.8

Condensed Consolidating Financial Information (Tables)

6 Months Ended

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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