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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2009
($ in millions)
Guarantor
Parent Subsidiaries Non-Guarantor
Subsidiaries Eliminations Consolidated
CURRENT ASSETS:
Cash and cash
equivalents ............. $ — $ 293 $ 14 $ — $ 307
Other .................... 27 2,031 166 (85) 2,139
Total Current Assets ..... 27 2,324 180 (85) 2,446
PROPERTY AND
EQUIPMENT:
Natural gas and oil
properties, at cost based
on full-cost accounting .... — 20,788 4 — 20,792
Other property and
equipment, net .......... — 2,903 3,015 — 5,918
Total Property and
Equipment ............ — 23,691 3,019 — 26,710
Other assets .............. 197 541 20 — 758
Investments in subsidiaries
and intercompany
advance ................ 3,029 262 — (3,291) —
TOTAL ASSETS ............ $ 3,253 $ 26,818 $ 3,219 $ (3,376) $ 29,914
CURRENT LIABILITIES:
Current liabilities ........... $
Intercompany payable
277 $ 2,261 $ 235 $ (85) $ 2,688
(receivable) from parent . . . (19,388) 17,572 1,729 87 —
Total Current Liabilities . . .
LONG-TERM LIABILITIES:
(19,111) 19,833 1,964 2 2,688
Long-term debt, net ........
Deferred income tax
10,359 1,892 44 — 12,295
liabilities ................ 393 704 49 (87) 1,059
Other liabilities ............ 168 1,360 3 — 1,531
Total Long-Term
Liabilities ............. 10,920 3,956 96 (87) 14,885
EQUITY:
Chesapeake stockholders’
equity .................. 11,444 3,029 262 (3,291) 11,444
Noncontrolling interest ...... — — 897 — 897
Total Equity ............. 11,444 3,029 1,159 (3,291) 12,341
TOTAL LIABILITIES AND
EQUITY ................. $ 3,253 $ 26,818 $ 3,219 $ (3,376) $ 29,914
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