Segment Information (Note)

3 Months Ended

Mar. 31, 2016

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Information Disclosure

Segment Information

As of March 31, 2016, we have two reportable operating segments, each of which is managed separately because of the nature of its operations. The exploration and production operating segment is responsible for finding and producing oil, natural gas and NGL. The marketing, gathering and compression operating segment is responsible for marketing, gathering and compression of oil, natural gas and NGL.

Management evaluates the performance of our segments based upon income (loss) before income taxes. Revenues from the sale of oil, natural gas and NGL related to Chesapeake’s ownership interests by our marketing, gathering and compression operating segment are reflected as revenues within our exploration and production operating segment. These amounts totaled $783 million and $1.233 billion for the Current Quarter and the Prior Quarter, respectively.

During the Current Quarter, we changed the structure of our internal organization to include certain assets in our Exploration and Production reportable segment instead of our Other segment. Accordingly, this change has been reflected through retroactive revision of the segment information as of December 31, 2015. The following table presents selected financial information for Chesapeake’s operating segments:

	Exploration and Production			Marketing, Gathering and Compression			Other			Intercompany Eliminations			Consolidated  Total
	($ in millions)
Three Months Ended March 31, 2016
Revenues	$	993		$	1,743		$	—		$	(783	)	$	1,953
Intersegment revenues	—			(783		)	—			783			—
Total revenues	$	993		$	960		$	—		$	—		$	1,953
Income (Loss) Before Income Taxes	$	(895	)	$	40		$	(9	)	$	(57	)	$	(921	)
Three Months Ended March 31, 2015
Revenues	$	1,520		$	2,908		$	—		$	(1,210	)	$	3,218
Intersegment revenues	23			(1,233		)	—			1,210			—
Total revenues	$	1,543		$	1,675		$	—		$	—		$	3,218
Income (Loss) Before Income Taxes	$	(5,349	)	$	4		$	(14	)	$	267		$	(5,092	)
As of March 31, 2016
Total Assets	$	12,624		$	1,425		$	1,468		$	(160	)	$	15,357
As of December 31, 2015
Total Assets (as previously reported)	$	11,776		$	1,524		$	4,325		$	(311	)	$	17,314
As of December 31, 2015
Total Assets (as revised)	$	14,610		$	1,524		$	1,491		$	(311	)	$	17,314