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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) Effect of Derivative Instruments – Consolidated Balance Sheets The following table presents the fair value and location of each classification of derivative instrument included in the consolidated balance sheets as of December 31, 2016 and 2015 on a gross basis and after same-counterparty netting:

Gross Fair Value

Balance Sheet Classification As of December 31, 2016 Commodity Contracts: Short-term derivative asset ................ Short-term derivative liability.............. Long-term derivative liability .............. Total commodity contracts........... Foreign Currency Contracts:(a) Short-term derivative liability.............. Total foreign currency contracts .. Total derivatives ...................... As of December 31, 2015 Commodity Contracts: Short-term derivative asset ................ Short-term derivative liability.............. Long-term derivative liability .............. Total commodity contracts........... Foreign Currency Contracts:(a) Long-term derivative liability .............. Total foreign currency contracts .. Supply Contracts: Short-term derivative asset ................ Long-term derivative asset ................ Total supply contracts.................. Total derivatives ......................

Amounts Netted in the Consolidated Balance Sheets ($ in millions)

$

$

$

1 (490) (15) (504)

(1) 1 — —

(73) (73) (577)

— — —

381 (106)

$

$

$

$

Net Fair Value Presented in Consolidated Balance Sheet

$

$

(8) 267 (52) (52)

— —

(52) (52)

51 246 297 512

— — — —

51 246 297 512

$

____________________________________________ (a)

Designated as cash flow hedging instruments. As of December 31, 2016 and 2015, we did not have any cash collateral balances for these derivatives.

120

(73) (73) (577)

(66) 66 — —

$

$

— (489) (15) (504)

315 (40) (8) 267

Profile for Chesapeake Energy

2016 Annual Report  

2016 Annual Report