XML 72 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME (LOSS) $ (3,720)us-gaap_ProfitLoss $ 466us-gaap_ProfitLoss
ADJUSTMENTS TO RECONCILE NET INCOME (LOSS) TO CASH PROVIDED BY OPERATING ACTIVITIES:    
Depreciation, depletion and amortization 719us-gaap_DepreciationDepletionAndAmortization 706us-gaap_DepreciationDepletionAndAmortization
Deferred income tax expense (benefit) (1,372)us-gaap_DeferredIncomeTaxExpenseBenefit 277us-gaap_DeferredIncomeTaxExpenseBenefit
Derivative (gains) losses, net (172)us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts 363us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts
Cash receipts (payments) on derivative settlements, net 408us-gaap_DerivativeCashReceivedOnHedge (157)us-gaap_DerivativeCashReceivedOnHedge
Stock-based compensation 23us-gaap_ShareBasedCompensation 20us-gaap_ShareBasedCompensation
Impairment of oil and natural gas properties 4,976us-gaap_ImpairmentOfOilAndGasProperties 0us-gaap_ImpairmentOfOilAndGasProperties
Net (gains) losses on sales of fixed assets 3us-gaap_GainLossOnSaleOfPropertyPlantEquipment (23)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Impairments of fixed assets and other 2us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges 12us-gaap_GainLossOnSalesOfAssetsAndAssetImpairmentCharges
Losses on investments 7us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions 21us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
Net gains on sales of investments 0us-gaap_GainLossOnSaleOfInvestments (67)us-gaap_GainLossOnSaleOfInvestments
Restructuring and other termination costs (10)us-gaap_RestructuringCosts (9)us-gaap_RestructuringCosts
Provision for legal contingencies 25us-gaap_LossContingencyAccrualProvision 0us-gaap_LossContingencyAccrualProvision
Other 21us-gaap_OtherNoncashIncomeExpense 5us-gaap_OtherNoncashIncomeExpense
Changes in assets and liabilities (487)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (323)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net Cash Provided By Operating Activities 423us-gaap_NetCashProvidedByUsedInOperatingActivities 1,291us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:    
Drilling and completion costs (1,306)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties (897)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties
Acquisitions of proved and unproved properties (128)us-gaap_PaymentsToAcquireOilAndGasPropertyAndEquipment (187)us-gaap_PaymentsToAcquireOilAndGasPropertyAndEquipment
Proceeds from divestitures of proved and unproved properties 21us-gaap_ProceedsFromSaleOfOilAndGasPropertyAndEquipment 49us-gaap_ProceedsFromSaleOfOilAndGasPropertyAndEquipment
Additions to other property and equipment (58)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment (437)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
Proceeds from sales of other property and equipment 2us-gaap_ProceedsFromSaleOfOtherProductiveAssets 239us-gaap_ProceedsFromSaleOfOtherProductiveAssets
Additions to investments (3)us-gaap_PaymentsForProceedsFromInvestments (3)us-gaap_PaymentsForProceedsFromInvestments
Proceeds from sales of investments 0us-gaap_ProceedsFromSaleOfEquityMethodInvestments 239us-gaap_ProceedsFromSaleOfEquityMethodInvestments
Other 0us-gaap_PaymentsForProceedsFromOtherInvestingActivities (2)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net Cash Used In Investing Activities (1,472)us-gaap_NetCashProvidedByUsedInInvestingActivities (999)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facilities borrowings 0us-gaap_ProceedsFromLinesOfCredit 421us-gaap_ProceedsFromLinesOfCredit
Payments on credit facilities borrowings 0us-gaap_RepaymentsOfLinesOfCredit (362)us-gaap_RepaymentsOfLinesOfCredit
Cash paid for common stock dividends (59)us-gaap_PaymentsOfDividendsCommonStock (58)us-gaap_PaymentsOfDividendsCommonStock
Cash paid for preferred stock dividends (43)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (43)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Cash paid on financing derivatives 0us-gaap_PaymentsForProceedsFromHedgeFinancingActivities (15)us-gaap_PaymentsForProceedsFromHedgeFinancingActivities
Distributions to noncontrolling interest owners (29)us-gaap_PaymentsOfDividendsMinorityInterest (53)us-gaap_PaymentsOfDividendsMinorityInterest
Other (21)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (15)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net Cash Used In Financing Activities (152)us-gaap_NetCashProvidedByUsedInFinancingActivities (125)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents (1,201)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 167us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 4,108us-gaap_CashAndCashEquivalentsAtCarryingValue 837us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 2,907us-gaap_CashAndCashEquivalentsAtCarryingValue 1,004us-gaap_CashAndCashEquivalentsAtCarryingValue
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid, net of capitalized interest 43us-gaap_InterestPaidNet 75us-gaap_InterestPaidNet
Income taxes paid, net of refunds received 47us-gaap_IncomeTaxesPaidNet 0us-gaap_IncomeTaxesPaidNet
SUPPLEMENTAL DISCLOSURE OF SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Change in accrued drilling and completion costs 63us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (168)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Change in accrued acquisitions of proved and unproved properties 16chk_OilAndGasPropertyAndEquipmentAdjustedAsResultOfChangeInAccruedCosts 7chk_OilAndGasPropertyAndEquipmentAdjustedAsResultOfChangeInAccruedCosts
Change in accrued additions to other property and equipment $ 0chk_OtherPropertyPlantAndEquipmentAdjustedAsResultOfChangeInAccruedCosts $ (2)chk_OtherPropertyPlantAndEquipmentAdjustedAsResultOfChangeInAccruedCosts