Segment Information (Notes)

3 Months Ended

Mar. 31, 2017

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

Segment Information Disclosure

Segment Information

As of March 31, 2017, 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 $1.120 billion and $783 million for the Current Quarter and the Prior Quarter, respectively.

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, 2017
Revenues	$	1,469		$	2,404		$	—		$	(1,120	)	$	2,753
Intersegment revenues	—			(1,120		)	—			1,120			—
Total Revenues	$	1,469		$	1,284		$	—		$	—		$	2,753
Income (Loss) Before Income Taxes	$	567		$	(386	)	$	(10	)	$	(29	)	$	142
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 (as previously reported)	$	(895	)	$	40		$	(9	)	$	(57	)	$	(921	)
Income (Loss) Before Income Taxes (as revised)	$	(1,042	)	$	40		$	(9	)	$	(57	)	$	(1,068	)
As of March 31, 2017
Total Assets	$	10,147		$	918		$	1,031		$	(397	)	$	11,699
As of December 31, 2016
Total Assets	$	11,249		$	1,118		$	1,059		$	(398	)	$	13,028