Chesapeake Energy 2000 Annual Report Download - page 55

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
CONSOUDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) AND
COMPREHENSIVE INCOME (LOSS)
The accompanying notes are an integral part of these consolidated financial statements.
-44-
Years Ended December 31,
1998 1999 2000
($ in thousands)
PREFERRED STOCK:
Balance, beginning of period $$230,000 $229,820
Exchange of common stock and cash for 3,972,363 shares of preferred stock (198,618)
Exchange of common stock for 3,600 shares of preferred stock (180)
Issuance of preferred stock 230,000
Balance, end of period 230,000 229,820 31,202
COMMON STOCK:
Balance, beginning of period 743 1,052 1,059
Exercise of stock options and warrants 620
Issuance of 25,790,146 shares of common stock to Hugoton Energy Corporation 258
Issuance of 5,000,000 shares of common stock to DLB Oil and Gas, Inc. 50
Exchange of 36,366,915 shares of common stock for preferred stock 363
Issuance of 13,553,302 shares of common stock to acquire Gothic notes -136
Change in par value and other
Balance, end of period 1,052 1,059 1,578
PAID-IN CAPITAL
Balance, beginning of period 460,770 682,263 682,905
Exercise of stock options and warrants 153 514 1,377
Issuance of common stock to acquire Gothic notes 93,885
Issuance of common stock to acquire Hugoton Energy Corporation 206,063 -
Issuance of common stock to acquire DLB Oil and Gas, Inc. 29,950 -
Offering expenses and other (16,723) 1
Stock options issued in Hugoton purchase 2,050 -
Exchange of 36,366,915 shares of common stock for preferred stock 127 187,069
Exchange of 7,050,000 shares of treasury stock for preferred stock -(5,640)
Compensation related to stock options -238
Tax benefit from exercise of stock options -3,750
Balance, end of period 682,263 682,905 963,584
ACCUMULATED DEFICIT:
Balance, beginning of period (181,270) (1,127,195) (1,093,929)
Net income (loss) (933,854) 33,266 455,570
Dividends on common stock (4,021) -
Dividends on preferred stock (8,050) (4,645)
Fair value of common stock exchanged in excess of book value of preferred stock (8,013)
Cash paid in connection with issuance of common stock for preferred stock (8,269)
Balance, end of period (1,127,195) (1,093,929) (659,286)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS):
Balance, beginning of period (37) (4,726) 196
Foreign currency translation adjustments (4,689) 4,922 (4,097)
Balance, end of period (4,726) 196 (3,901)
TREASURY STOCK - COMMON:
Balance, beginning of period (29,962) (37,595)
Settlement of notes receivable for 2,320,107 shares of common stock from related parties. . (7,633) -
Purchase of 8,503,300 shares of treasuiy stock (29,962) -
Exchange of 7,050,000 shares of treasury stock for preferred stock -24,841
Receipt of 982,562 shares of common stock from previous Gothic note holders in
settlement of make-whole provision -(7,191)
Balance, end of period (29,962) (37,595) (19,945)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) $(248,568) $(217,544) $313,232
COMPREHENSIVE INCOME (LOSS):
Net income (loss) $(933,854) $33,266 $455,570
Other comprehensive income (loss) - foreign currency translation adjustments (4,689) 4,922 (4,097)
Comprehensive income (loss) $(938,543) $38,188 $451,473