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CHK » Topics » 6. Segment Information

This excerpt taken from the CHK 10-Q filed Nov 1, 2005.

6. Segment Information

 

In accordance with Statement of Financial Accounting Standards No. 131, Disclosures about Segments of an Enterprise and Related Information, we have identified two reportable operating segments. These segments are managed separately because of the nature of their products and services. Chesapeake’s two segments are the exploration and production segment and the marketing segment. The exploration and production segment is responsible for finding and producing natural gas and crude oil. The marketing segment is responsible for gathering, processing, transporting, and selling natural gas and crude oil production primarily from Chesapeake operated wells. Revenues from the marketing segment’s sale of oil and gas related to Chesapeake’s ownership interests are reflected as exploration and production revenues. Such amounts totaled $617.4 million and $349.6 million for the Current Quarter and the Prior Quarter, respectively, and $1.487 billion and $932.0 million for the Current Period and the Prior Period, respectively.

 

Management evaluates the performance of our segments based upon income before income taxes.

 

     Exploration
and Production
    Marketing
     Consolidated

For the Three Months Ended September 30, 2005:

                      

Revenues

    $ 720,928    $ 361,915     $ 1,082,843

Income before income taxes

      271,835      6,887       278,722

For the Three Months Ended September 30, 2004:

                      

Revenues

    $ 450,936    $ 178,860     $ 629,796

Income (loss) before income taxes

      151,714      (353 )     151,361

For the Nine Months Ended September 30, 2005:

                      

Revenues

    $ 2,032,271    $ 882,040     $ 2,914,311

Income before income taxes

      764,200      16,554       780,754

For the Nine Months Ended September 30, 2004:

                      

Revenues

    $ 1,270,394    $ 496,823     $ 1,767,217

Income before income taxes

      478,127      960       479,087

As of September 30, 2005:

                      

Total assets

    $ 11,813,195    $ 552,434     $ 12,365,629

As of December 31, 2004:

                      

Total assets

    $ 7,926,263    $ 318,246     $ 8,244,509

 

18

Table of Contents

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

 

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