Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summarized unaudited quarterly financial data for 2020 and 2019 are as follows:


	2020 First Quarter(a)		2020 Second Quarter		2020 Third Quarter		2020 Fourth Quarter
	($ in millions except per share data)
Total revenues	$	2,541	$	521	$	975	$	1,259
Income (loss) from operations	$	(8,227)	$	(541)	$	(111)	$	176
Net loss attributable to Chesapeake	$	(8,297)	$	(276)	$	(745)	$	(416)
Net loss available to common stockholders	$	(8,319)	$	(276)	$	(745)	$	(416)

Net loss per common share(b):
Basic	$	(852.97)	$	(28.22)	$	(76.18)	$	(42.54)
Diluted	$	(852.97)	$	(28.22)	$	(76.18)	$	(42.54)


	2019 First Quarter		2019 Second Quarter		2019 Third Quarter		2019 Fourth Quarter
	($ in millions except per share data)
Total revenues	$	2,196	$	2,386	$	2,087	$	1,926
Income (loss) from operations	$	(182)	$	278	$	46	$	(173)
Net income (loss) attributable to Chesapeake	$	(21)	$	98	$	(61)	$	(324)
Net income (loss) available to common stockholders	$	(44)	$	75	$	(101)	$	(346)

Net income (loss) per common share(b):
Basic	$	(6.37)	$	9.21	$	(11.89)	$	(35.53)
Diluted	$	(6.37)	$	9.21	$	(11.89)	$	(35.53)

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(a)Includes $8.446 billion of impairment charges as a result of the decrease in demand for crude oil primarily due to COVID-19 and sharp decline in commodity prices related to the combined impact of falling demand and increases in production from OPEC+ which resulted in decreases in crude oil and NGL sales prices.

(b)All per share information has been retroactively adjusted to reflect the 1-for-200 (1:200) reverse stock split effective April 14, 2020. See Note 11 for additional information.