Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Statements Of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
	Parent		Former Guarantors		Other Subsidiaries		Eliminations		Consolidated
	(in millions)
Three months ended June 30, 2013:
Operating revenues	$	–	$	818	$	127	$	(83)	$	862
Operating costs and expenses:
Gas purchases		–		200		–		–		200
Operating expenses		–		125		40		(83)		82
General and administrative expenses		–		41		7		–		48
Depreciation, depletion and amortization		–		175		12		–		187
Taxes, other than income taxes		–		17		3		–		20
Total operating costs and expenses		–		558		62		(83)		537
Operating income		–		260		65		–		325
Other income, net		–		–		1		–		1
Gain on derivatives		–		93		–		–		93
Equity in earnings of subsidiaries		246		–		–		(246)		–
Interest expense		–		7		2		–		9
Income (loss) before income taxes		246		346		64		(246)		410
Provision for income taxes		–		142		22		–		164
Net income		246		204		42		(246)		246
Comprehensive income (loss)	$	286	$	245	$	40	$	(285)	$	286

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
	Parent		Former Guarantors		Other Subsidiaries		Eliminations		Consolidated
	(in millions)
Six months ended June 30, 2013:
Operating revenues	$	–	$	1,508	$	248	$	(161)	$	1,595
Operating costs and expenses:
Gas purchases – midstream services		–		381		–		(1)		380
Operating expenses		–		234		72		(160)		146
General and administrative expenses		–		73		12		–		85
Depreciation, depletion and amortization		–		342		24		–		366
Taxes, other than income taxes		–		35		6		–		41
Total operating costs and expenses		–		1,065		114		(161)		1,018
Operating income (loss)		–		443		134		–		577
Gain on derivatives		–		64		–		–		64
Equity in earnings of subsidiaries		373		–		–		(373)		–
Interest expense		–		15		4		–		19
Income (loss) before income taxes		373		492		130		(373)		622
Provision for income taxes		–		200		49		–		249
Net income (loss)		373		292		81		(373)		373
Comprehensive income (loss)	$	320	$	239	$	79	$	(318)	$	320

Condensed Consolidating Statements Of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Unaudited)
	Parent		Former Guarantors		Other Subsidiaries		Eliminations		Consolidated
	(in millions)
Six months ended June 30, 2013:
Net cash provided by (used in) operating activities	$	(29)	$	651	$	256	$	–	$	878
Investing activities:
Capital investments		(13)		(1,084)		(79)		–		(1,176)
Transfers from restricted cash		9		–		–		–		9
Other		–		2		4		–		6
Net cash used in investing activities		(4)		(1,082)		(75)		–		(1,161)
Financing activities:
Intercompany activities		(244)		425		(181)		–		–
Payments on current portion of long-term debt		(1)		–		–		–		(1)
Payments on revolving long-term debt		(1,233)		–		–		–		(1,233)
Borrowings under revolving long-term debt		1,463		–		–		–		1,463
Other items		26		–		–		–		26
Net cash provided by (used in) financing activities		11		425		(181)		–		255
Decrease in cash and cash equivalents		(22)		(6)		–		–		(28)
Cash and cash equivalents at beginning of year		48		6		–		–		54
Cash and cash equivalents at end of period	$	26	$	–	$	–	$	–	$	26