CHESAPEAKE ENERGY CORP
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
EXE$87.94+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| ($ in millions) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net income | $26 | $1,389 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 399 | 390 |
| Deferred income tax expense | 7 | 378 |
| Derivative gains, net | (172) | (930) |
| Cash receipts (payments) on derivative settlements, net | 228 | (285) |
| Share-based compensation | 9 | 7 |
| Gains on sales of assets | (8) | (335) |
| Other | (13) | 12 |
| Changes in assets and liabilities | 76 | 263 |
| Net cash provided by operating activities | 552 | 889 |
| Cash flows from investing activities: | ||
| Capital expenditures | (421) | (497) |
| Receipts of deferred consideration | 60 | — |
| Contributions to investments | (19) | (39) |
| Proceeds from divestitures of property and equipment | 6 | 931 |
| Net cash provided by (used in) investing activities | (374) | 395 |
| Cash flows from financing activities: | ||
| Proceeds from Credit Facility | — | 1,000 |
| Payments on Credit Facility | — | (2,050) |
| Cash paid to repurchase and retire common stock | — | (54) |
| Cash paid for common stock dividends | (77) | (175) |
| Net cash used in financing activities | (77) | (1,279) |
| Net increase in cash, cash equivalents and restricted cash | 101 | 5 |
| Cash, cash equivalents and restricted cash, beginning of period | 1,153 | 192 |
| Cash, cash equivalents and restricted cash, end of period | $1,254 | $197 |
| Cash and cash equivalents | $1,179 | $130 |
| Restricted cash | 75 | 67 |
| Total cash, cash equivalents and restricted cash | $1,254 | $197 |
Supplemental disclosures to the condensed consolidated statements of cash flows are presented below:
| Three Months Ended March 31, | ||
|---|---|---|
| ($ in millions) | 2024 | 2023 |
| Supplemental cash flow information: | ||
| Interest paid, net of capitalized interest | $20 | $41 |
| Income taxes paid (refunds received), net | $— | $— |
| Supplemental disclosure of significant non-cash investing and financing activities: | ||
| Change in accrued drilling and completion costs | $(59) | $56 |
| Operating lease obligations recognized | $— | $48 |
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