Chesapeake Energy 1999 Annual Report Download - page 54

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CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(S in thousands)
-44-
For the Year Ended December 31, 1999:
REVENUES:
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Company Eliminations Consolidated
Oil and gas sales $279,740 $-$$705 $280,445
Oil and gas marketing sales -194,605 (120,104) 74,501
Total Revenues 279.740 194 605 (119.399) 354.946
OPERATING COSTS:
Production expenses and taxes 59,158 404 59,562
Oil and gas marketing expenses 190,932 (119,399) 71,533
Impairment of oil and gas properties
Impairment of other assets
Oil and gas depreciation, depletion and amortization 94,649 395 95,044
Other depreciation and amortization 4,474 80 3,256 7,810
General and administrative 12,143 1,251 83 13.477
Total Operating Costs 170.424 193.062 3.339 (119,399) 247,426
INCOME (LOSS) FROM OPERATIONS 109.316 1.543 (3,339) -107.520
OTHER INCOME (EXPENSE):
Interest and other income 3,257 4,823 84,120 (83,638) 8,562
Interest expense (82,852) (96) (8 1.742) 83.638 (81.052)
(79,595) 4.727 2.378 -(72.490)
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARY ITEM 29,721 6,270 (961) 35,030
INCOME TAX EXPENSE (BENEFIT) 1,764 1,764
NET INCOME (LOSS) BEFORE
EXTRAORDINARY ITEM 27,957 6,270 (961) 33,266
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt,
net of applicable income tax
NET INCOME (LOSS) $27.957 $6.270 S(961) $533,266
Non-
Guarantor Guarantor
Subsidiaries Subsidiaries Company Eliminations Consolidated
For the Year Ended December 31, 1998:
REVENUES:
Oil and gas sales $254,541 $-$$2,346 $256,887
Oil and gas marketing sales 225,195 (104 136) 121.059
Total Revenues 254.541 225.195 (101,790) 377,946
OPERATING COSTS:
Production expenses and taxes 59,497 59,497
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
General and administrative 18.081 1,766 71 19.9 18
Total Operating Costs 1,102.426 230.690 2.8 17 (101.790) 1.234,143
INCOME (LOSS) FROM OPERATIONS (847.885) (5.495) (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)
(95.565) 1.877 29,365 -(64.323)
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARY ITEM (943,450) (3,618) 26,548 (920,520)
INCOME TAX EXPENSE (BENEFIT) -
NET INCOME (LOSS) BEFORE
EXTRAORDINARY ITEM (943,450) (3,618) 26,548 (920,520)
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt,
net of applicable income tax (2,164) (11170) (13.334)
NET INCOME (LOSS) S945.614) $(3618) $15378 $$ (933.854)