Chesapeake Energy 1999 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 1999 Chesapeake Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 87

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(S in thousands)
For the Year Ended December 31, 1998:
-46-
CASHFLOWS FROM OPERATINGACTIVITIIES $66,960 $ (13,137) $40,816 $$94,639
CASH FLOWS FROM INVESTING ACTIVITIES:
Oil and gas properties (523,922) (523,922)
Proceeds from sale of assets 3,600 3,600
Investment in preferred stock of Gothic Energy
Corporation (39,500) (39,500)
Repayment of note receivable 2,000 2,000
Proceeds from sale of PanEast Petroleum Corporation 21,245 21,245
Other additions (2.510) 8,408 (17,371) (11.473)
(563.932) 8.408 7,474 (548.050)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings 658,750 658,750
Payments on long-term borrowings (474,166) (474,166)
Cash received from issuance of preferred stock 222,663 222,663
Cash paid for purchase of treasury stock (29,962) (29,962)
Dividends paid on common stock and preferred stock (13,642) (13,642)
Exercise of stock options 154 154
Intercompany advances, net 476,663 6.03 5 (482.698) -
476,663 6,035 (118,901) 363,797
EFFECT OF EXCHANGE RATE CHANGES
ON CASH (4,726) (4,726)
Net increase (decrease) in cash and cash
equivalents (25,035) 1,306 (70,611) (94,340)
Cash, beginning of period (284) 13,694 110,450 123.860
Cash, end of period $(25 319) $15,000 539.839 $
For the Year Ended December 31, 1999:
Guarantor
Subsidiaries Non-Guarantor
Subsidiaries Company Eliminations Consolidated
CASHFLOWSFROMOPERATINGACTIVITIES $135.303 $7.193 S2,526 $$145.022
CASH FLOWS FROM INVESTING ACTIVITIES:
Oil and gas properties, net (159,888) 2,362 -(157,526)
Proceeds from sale of assets 2,082 3,448 5,530
Other investments (480) (250) (730)
Other additions (5,777) (72) (1,198) (7.047)
(164,063) 5,488 (1,198) (159,773)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings 116,500 116,500
Payments on long-term borrowings (98,000) (98,000)
Cash paid for purchase of preferred stock -(53) (53)
Exercise of stock options 520 520
Intercompany advances, net 15.501 781 (16,282)
34,001 728 (15,762) 18,967
EFFECT OF EXCHANGE RATE CHANGES
ON CASH 4.922 4,922
Net increase (decrease) in cash and cash
equivalents 10,163 13,409 (14,434) 9,138
Cash, beginning of period (17.319) 7,000 39.839 29,520
Cash, end of period &j7J5) $20.409 $25 405 $$38,658
Guarantor Non-Guarantor
Subsidiaries Subsidiaries Company Eliminations Consolidated