Chesapeake Energy 1999 Annual Report Download - page 44

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
The accompanyingnotes are an integral part of these consolidated financial statements.
-34-
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)
ADJUSTMENTS TO RECONCILE NET INCOME (LOSS) TO
CASH PROVIDED BY OPERATING ACTIVITIES:
Depreciation, depletion and amortization
Impairment of oil and gas assets
Impairment of other assets
Deferred taxes
Amortization of loan costs
Amortization of bond discount
Bad debt expense
Gain on sale of Bayard stock
Gain on sale of fixed assets
Extraordinary loss
Equity in (earnings) losses from investments and other
Cash provided by operating activities before changes in current
assets and liabilities
CHANGES IN ASSETS AND LIABILITIES:
(Increase) decrease in short-term investments
(Increase) decrease in accounts receivable
(Increase) decrease in inventory
(Increase) decrease in other current assets
Increase (decrease) in accounts payable, accrued
liabilities and other
Increase (decrease) in current and non-current revenues
and royalties due others
Increase (decrease) in deferred income taxes
Changes in assets and liabilities
Cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Exploration and development of oil and gas properties
Acquisitions of oil and gas companies and properties, net of cash acquired
Divestitures of oil and gas properties
Investment in preferred stock of Gothic Energy Corporation
Net proceeds from sale of Bayard stock
Repayment of note receivable
Proceeds from sale of investment in PanEast
Other proceeds from sales
Long-term loans made to third parties
Investment in oil field service company
Increase in deferred charges
Other investments
Other property and equipment additions
Cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock
Proceeds from long-term borrowings
Payments on long-term borrowings
Dividends paid on common stock
Dividends paid on preferred stock
Proceeds from issuance of preferred stock
Purchase of treasury stock and preferred stock
Cash received from exercise of stock options
Other financing
Cash provided by (used in) financing activities
EFFECT OF EXCHANGE RATE CHANGES ON CASH
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period
Years Ended Six Months Ended
December 31. December 31, Year Ended
June 30,
1997
1999 1998 1997
$33,266
99,516
1,764
3,338
84
9
(459)
1.209
(S in thousands)
$ (933,854) $(31,574)
152,204 62,028
826,000 110,000
55,000 -
-
2,516 794
98 41
1,589 40
(73,840)
(90) (209)
13,334 -
703 592
$(183,377)
105,591
236,000
-
(3,573)
1,455
217
299
(1,593)
6,620
(499)
138,727 117.500 67.872 161,140
17,592
743
3,614
(23,891)
3,517
4.720
12,027 92,127
12,191 (7,173)
168 (1,584)
7,637 (1,519)
(46,785) (11,044)
(8,099) 478
-
(102,858)
(19,987)
(1,467)
1,466
48,085
(2,290)
-
6.295 (22.861) 71,285 (77.051)
145,022 94,639 139,157 84.089
(153,268)
(49,893)
45,635
5,530
(5,865)
(730)
(1.182)
(259,710) (187,252)
(279,924)
15,712
(39,500) 90,380
2,000 18,000
21,245 -
3,600 17
(200)
-
(30,434)
(11.473) (27,015)
(465,367)
-
6,428
(20,000)
(3,048)
-
(8,000)
(33,867)
(159.773) (548.050) (136.504) (523.854)
i 16,500
(98,000)
(53)
520
658,750
(474,166)
(5,592) (2,810)
(8,050)
222,663
(29,962)
154 322
(322)
288,091
342,626
(119,581)
-
1,387
(379)
18,967 363,797 (2.810) 512.144
4.922 (4.726) --
9,138
29.520 (94,340) (157)
123.860 124.017 72,379
51.638
538.658 529.520 $123.860 5124 017