Chesapeake Energy 1993 Annual Report Download - page 25

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
During the year ended June 30, 1992, accounts receivable in the amount of $1,049,000 were settled by an acceptance
of an assignment of a v orking interest owner s working interest in specified wells as defined The balance of the trade
receivable due from the industry partner was reclassified to oil and gas properties
During the year ended June 30 1992 the company executed note agreements sith several vendors to formalize
payment terms on approximately $3 700 000 of accounts payable
During the year ended June 30, 1993, notes payable in the amount of $7,500,000. were converted to preferred stock.,
On June 30 1993 the Company became the legal and beneficial owner of certain oil and gas equipment The total
purchase price to be paid forthe equipment is $2,498,490. The. purchase price will be paid by the Company'duririg
fiscal 1994. .
The accompanying notes are an inlegralpart of these consof/datedfinancial statements.
15
CASH FLOWS FROM. OPERATING ACTIVITIES
NET INCOME (LOSS)-
ADJUSTMENTS TO RECONCILE NE1 INCOME (t05S) TO NET
CASH PROVIDED BY OPERATING ACTIVITIES:
Years Ended June 30,
1993 1992 1991
($ .365)
($. in thousands).
51,390 S462
Depreciation depletion and amortization 4 741 3 884 1 936
Deferred taxes. (99) 1,192 163
Amortization of loan costs 127 _L
CHANGES IN CURRENT ASSETS AND LIABILITIES:
(Increase) decrease in accounts receivable - trade 401 (840) (6 785)
(Increase) decrease in accounts receiable - related parties (1 580) 2 503 (3 213)
(Increase) decrease in inventory :834. 1,088 .(2.757)
(Increase)decrease in other current assets (247) (156)... (317)
Increase (decrease) in accounts payable, prepayments .
and other (11 472) (1 959) 22 381
Increase in revenues and royalties due others 6,161 2,071 2,871
Increase in income tax payable 145 80
Cash provided by (used in) operating activities (1,499) 9,318 14,821
CASH FLOWS FROM INVESTING ACTIVITIES
Development and acquisition of oil and gas properties (16 382) (27 879) (22 677)
Proceeds from sale of equipment leasehold and other 3 535 4 364 2 777
Other property and equipment additions (2 295) (1 240) (2 028)
Cash used in investing activities (15 142) (24 755) (21 928)
CASH FLOWS FROM FINANCING ACTIVITIES: .
.Proceeds from issuance of common stock 25,168 -
Proceeds from long-term borrowings 19,762 .16,543 11,337
Payments on long-term borrowings (23,487) (3,774) (753)
Other financing (641) -
Contributed capital. .. -10 378
Capital withdrawals .-(1,715)
Cash provided by financing activities 20,802 12,779 9,247
Net increase (decrease) in cash and cash equivalents 4,161 (2,658) 2,140
Cash and cash equivalettts, beginning of period 690 3,348 -1,208
Cash and cash equivalents, end of period $4,851 S690 53:348
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
CASH PAYMENTS FOR:
Interest expense $2,520 $.$ 291
Income taxes ..$56 $