Segment Information

As of June 30, 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 $1.050 billion, $848 million, $2.170 billion and $1.631 billion for the Current Quarter, the Prior Quarter, the Current Period and the Prior Period, 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 June 30, 2017
Revenues	$	1,279		$	2,052		$	—		$	(1,050	)	$	2,281
Intersegment revenues	—			(1,050		)	—			1,050			—
Total Revenues	$	1,279		$	1,002		$	—		$	—		$	2,281
Income (Loss) Before Income Taxes	$	541		$	(61	)	$	(12	)	$	28		$	496

Three Months Ended June 30, 2016
Revenues	$	440		$	2,030		$	—		$	(848	)	$	1,622
Intersegment revenues	—			(848		)	—			848			—
Total Revenues	$	440		$	1,182		$	—		$	—		$	1,622
Income (Loss) Before Income Taxes (as previously reported)	$	(1,755	)	$	(44	)	$	(8	)	$	57		$	(1,750	)
Income (Loss) Before Income Taxes (as revised)	$	(1,781	)	$	(44	)	$	(8	)	$	57		$	(1,776	)

Six Months Ended June 30, 2017
Revenues	$	2,748		$	4,456		$	—		$	(2,170	)	$	5,034
Intersegment revenues	—			(2,170		)	—			2,170			—
Total Revenues	$	2,748		$	2,286		$	—		$	—		$	5,034
Income (Loss) Before Income Taxes	$	1,108		$	(447	)	$	(22	)	$	(1	)	$	638



	Exploration and Production			Marketing, Gathering and Compression			Other			Intercompany Eliminations			Consolidated Total
	($ in millions)
Six Months Ended June 30, 2016
Revenues	$	1,433		$	3,773		$	—		$	(1,631	)	$	3,575
Intersegment revenues	—			(1,631		)	—			1,631			—
Total Revenues	$	1,433		$	2,142		$	—		$	—		$	3,575
Income (Loss) Before Income Taxes (as previously reported)	$	(2,650	)	$	(4	)	$	(17	)	$	—		$	(2,671	)
Income (Loss) Before Income Taxes (as revised)	$	(2,823	)	$	(4	)	$	(17	)	$	—		$	(2,844	)

As of June 30, 2017
Total Assets	$	10,385		$	932		$	1,014		$	(411	)	$	11,920
As of December 31, 2016
Total Assets	$	11,249		$	1,118		$	1,059		$	(398	)	$	13,028