Chesapeake Energy 1995 Annual Report Download - page 33

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CONSOLIDATED STATEMENTS OF CASH FLOWS
The accompanying notes are an integral part of these consolidated financial statements.
1995 YEARS ENDED JUNE 30,
1994 1993
CASH FLOWS FROM OPERATING ACTIVITIES: )$ IN THOUSANDS)
Net Income (loss) $11,661 $3,905 $(365)
Adjustments to reconcile net income (loss) to net
cash provided by operating activities:
Depreciation, depletion and amortization 26,628 9,455 4,741
Deferred taxes 6,299 1,250 (99)
Amortization of loan costs 548 557 127
Amortization of bond discount 567 138
Bad debt expense 308 222
Gain on sale of fixed assets (108)
CHANGES IN CURRENT ASSETS AND LIABILITIES:
(Increase) decrease in accounts receivable (19,795) (7,682) 401
(Increase) decrease in accounts receivable related parties (2,715) (91) (1,580)
(Increase) decrease in inventory (1,203) (304) 834
Decrease (increase) in other current assets 614 (726) (247)
Increase (decrease) in accounts payable, accrued liabilities and other 19,387 10,186 (11,472)
Increase in current and non-current revenues and royalties due others 12,540 2,622 6,161
(Decrease) in income taxes payable (109)
Cash provided by (used in) operating activities 54,731 19,423 (1,499)
CASH FLOWS FROM INVESTING ACTIVITIES:
Exploration development and acquisition of oil and gas properties (120,985) (34,654) (16,806)
Proceeds from sale of oil and gas equipment, leasehold and other 15,107 7,598 3,943
Other proceeds from sales 1,104 765
Other property and equipment additions (7,929) (2,920) (2,279)
Cash used in investing activities (112,703) (29,211) (15,142)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Common Stock 25,168
Proceeds from long-term borrowings 128,834 48,800 19,762
Payments on long-term borrowings (32,370) (25,738) (23,487)
Placement fee on Senior Notes and Warrants (1,900)
Other fInancing (641)
Cash received from exercise of stock options 818
Cash provided by financing activities 97,282 21,162 20,802
Net increase in cash and cash equivalents 39,310 11,374 4,161
Cash and cash equivalents, beginning of period 16,225 4,851 690
Cash and cash equivalents, end of period $ 55,535 $16,225 $4,851
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
CASH PAYMENTS FOR:
Interest expense $6,488 $1,467 $2,520
Income taxes $$109 $56
CHESAPEAKE ENERGY CORPORATION 3'