Chesapeake Energy 2000 Annual Report Download - page 63

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CONDENSED CONSOUDATING STATEMENTS OF OPERATIONS
($ in thousands)
-52-
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiary Parent Eliminations Consolidated
For the Year Ended December 31, 1998:
REVENUES:
Oil and gas sales $ 256,887 $$ $ $ 256,887
Oil and gas marketing sales 222,849 (101,790) 121,059
Total Revenues 256,887 222,849 (101,790) 377,946
OPERATING COSTS:
Production expenses and taxes 59,497 -- - 59,497
General and administrative 18,081 1,766 71 19,918
Oil and gas marketing expenses 220,798 (101,790) 119,008
Impairment of oil and gas properties 826,000 826,000
Impairment of other assets 47,000 8,000 55,000
Oil and gas depreciation, depletion and amortization 146,644 146,644
Other depreciation and amortization 5,204 126 2,746 8,076
Total Operating Costs 1,102,426 230,690 2,817 (101,790) 1,234,143
INCOME (LOSS) FROM OPERATIONS (845,539) (7,841) (2,817) -(856,197)
OTHER INCOME (EXPENSE):
Interest and other income 649 2,259 100,886 (99,868) 3,926
Interest expense (96,214) (382) (71,521) 99,868 (68,249)
Equity in net earnings of subsidiaries --(949,232) 949,232 -
(95,565) 1,877 (919,867) 949,232 (64,323)
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARY ITEM (941,104) (5,964) (922,684) 949,232 (920,520)
INCOME TAX EXPENSE (BENEFIT) - - -
NET INCOME (LOSS) BEFORE EXTRAORDINARY
ITEM (941,104) (5,964) (922,684) 949,232 (920,520)
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt, net of applicable
income tax (2,164) (11,170) (13,334)
NET INCOME (LOSS) $ (943,268) $ (5,964) $(933,854) $ 949,232 $ (933,854)
For the Year Ended December 31, 1999:
RE VENUES:
Oil and gas sales
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiary Parent Eliminations Consolidated
$280,445 $$ $ $280,445
Oil and gas marketing sales 193,900 (119,399) 74,501
Total Revenues 280,445 193,900 -(119,399) 354,946
OPERATING COSTS:
Production expenses and taxes 59,158 404 59,562
General and administrative 12,143 1,251 83 13,477
Oil and gas marketing expenses -190,932 (119,399) 71,533
Oil and gas depreciation, depletion and amortization 94,649 395 --95,044
Other depreciation and amortization 4,474 80 3,256 -7,810
Total Operating Costs 170,424 193,062 3,339 (119,399) 247,426
INCOME (LOSS) FROM OPERATIONS 110,021 838 (3,339) 107,520
OTHER INCOME (EXPENSE):
Interest and other income 3,257 4,823 84,120 (83,638) 8,562
Interest expense (82,852) (96) (81,742) 83,638 (81,052)
Equity in net earnings of subsidiaries --34,227 (34,227) -
(79,595) 4,727 36,605 (34,227) (72,490)
INCOME (LOSS) BEFORE INCOME TAXES 30,426 5,565 33,266 (34,227) 35,030
INCOME TAX EXPENSE (BENEFIT) 1,764 1,764
NET INCOME (LOSS) $ 28,662 $5,565 $ 33,266 $ (34,227) $ 33,266