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CHK » Topics » Pro forma Disclosures

This excerpt taken from the CHK 10-K filed Feb 29, 2008.

Pro forma Disclosures

Prior to January 1, 2006, we accounted for our employee and non-employee director stock options using the intrinsic value method prescribed by APB 25. As required by SFAS 123(R), we have disclosed below the effect on net income and earnings per share that would have been recorded using the fair value based method for 2005 ($ in millions, except per share amounts):

 

     Year Ended  
     December 31, 2005  

Net Income:

   

As reported

    $ 948  

Add: Stock-based compensation expense included in reported net income, net of income tax

      10  

Deduct: Total stock-based compensation expense determined under fair value based method for all awards, net of income tax

      (18 )
        

Pro forma net income

    $ 940  
        

Basic earnings per common share:

   

As reported

    $ 2.73  
        

Pro forma

    $ 2.71  
        

Diluted earnings per common share:

   

As reported

    $ 2.51  
        

Pro forma

    $ 2.48  
        

 

77

Table of Contents
Index to Financial Statements

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the CHK 10-K filed Mar 1, 2007.

Pro forma Disclosures

Prior to January 1, 2006, we accounted for our employee and non-employee director stock options using the intrinsic value method prescribed by APB 25. As required by SFAS 123(R), we have disclosed below the effect on net income and earnings per share that would have been recorded using the fair value based method for 2005 and 2004 ($ in thousands, except per share amounts):

 

     Years Ended December 31,  
           2005                 2004        

Net Income:

     

As reported

    $ 948,302     $ 515,155  

Add: Stock-based compensation expense included in reported net income, net of income tax

      9,743       3,090  

Deduct: Total stock-based compensation expense determined under fair value based method for all awards, net of income tax

      (18,028 )     (14,289 )
                

Pro forma net income

    $ 940,017     $ 503,956  
                

Basic earnings per common share:

     

As reported

    $ 2.73     $ 1.73  
                

Pro forma

    $ 2.71     $ 1.69  
                

Diluted earnings per common share:

     

As reported

    $ 2.51     $ 1.53  
                

Pro forma

    $ 2.48     $ 1.49  
                
This excerpt taken from the CHK 10-Q filed Nov 7, 2006.

Pro forma Disclosures

Prior to January 1, 2006, we accounted for our employee and non-employee director stock options using the intrinsic value method prescribed by APB 25. As required by SFAS 123(R), we have disclosed below the effect on net income and earnings per share that would have been recorded using the fair value based method for the three and nine months ended September 30, 2005 ($ in thousands, except per share amounts):

 

     Three Months Ended
September 30, 2005		     Nine Months Ended
September 30, 2005		  

Net Income:

     

As reported

    $ 176,988     $ 495,777  

Add: Stock-based compensation expense included in reported net income, net of income tax

      3,333       6,459  

Deduct: Total stock-based compensation expense determined under fair value based method for all awards, net of income tax

      (5,218 )     (13,176 )
                

Pro forma net income

    $ 175,103     $ 489,060  
                

Basic earnings per common share:

     

As reported

    $ 0.46     $ 1.42  
                

Pro forma

    $ 0.46     $ 1.40  
                

Diluted earnings per common share:

     

As reported

    $ 0.43     $ 1.32  
                

Pro forma

    $ 0.42     $ 1.30  
                

 

11

Table of Contents

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the CHK 10-Q filed Aug 9, 2006.

Pro forma Disclosures

Prior to January 1, 2006, we accounted for our employee and non-employee director stock options using the intrinsic value method prescribed by APB 25. As required by SFAS 123(R), we have disclosed below the effect on net income and earnings per share that would have been recorded using the fair value based method for the three and six months ended June 30, 2005 ($ in thousands, except per share amounts):

 

     Three Months
Ended
June 30, 2005		     Six Months
Ended
June 30, 2005		  

Net Income:

     

As reported

    $ 193,779     $ 318,789  

Add: Stock-based compensation expense included in reported net income, net of tax

      1,591       3,126  

Deduct: Total stock-based compensation expense determined under fair value based method for all awards, net of tax

      (4,071 )     (7,958 )
                

Pro forma net income

    $ 191,299     $ 313,957  
                

Basic earnings per common share

     

As reported

    $ 0.58     $ 0.96  
                

Pro forma

    $ 0.57     $ 0.95  
                

Diluted earnings per common share

     

As reported

    $ 0.52     $ 0.88  
                

Pro forma

    $ 0.51     $ 0.87  
                
This excerpt taken from the CHK 10-Q filed May 10, 2006.

Pro forma Disclosures

Prior to January 1, 2006, we accounted for our employee stock options using the intrinsic value method prescribed by APB 25. As required by SFAS 123(R), we have disclosed below the effect on net income and earnings per share that would have been recorded using the fair value based method for the three months ended March 31, 2005 ($ in thousands, except per share amounts):

 

Net Income:

   

As reported

    $ 125,010  

Add: Stock-based compensation expense included in reported net income, net of tax

      1,535  

Deduct: Total stock-based compensation expense determined under fair value based method for all awards, net of tax

      (3,887 )
        

Pro forma net income

    $ 122,658  
        

Basic earnings per common share

   

As reported

    $ 0.39  
        

Pro forma

    $ 0.38  
        

Diluted earnings per common share

   

As reported

    $ 0.36  
        

Pro forma

    $ 0.35  
        

EXCERPTS ON THIS PAGE:

10-K
Feb 29, 2008
10-K
Mar 1, 2007
10-Q
Nov 7, 2006
10-Q
Aug 9, 2006
10-Q
May 10, 2006

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