Chesapeake Utilities Corporation (CPK) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
500 ENERGY LANE DOVER, DE 19901 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4923 - Natural Gas Transmission and Distribution (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 4,904 | 6,204 | 4,976 | 3,499 | 6,985 | 6,089 | |||
| Cash and cash equivalents | 4,904 | 6,204 | 4,976 | 3,499 | 6,985 | 6,089 | |||
| Receivables | 75,615 | 65,422 | 75,942 | 69,775 | 69,612 | 100,704 | |||
| Inventory, net of allowances, customer advances and progress billings | 14,008 | 15,729 | 15,335 | 8,361 | 9,365 | 16,394 | |||
| Inventory | 14,008 | 15,729 | 15,335 | 8,361 | 9,365 | 16,394 | |||
| Prepaid expense | 15,407 | 15,865 | 17,121 | 13,239 | 13,928 | 10,079 | |||
| Contract with customer, asset, after allowance for credit loss | 18 | 18 | |||||||
| Derivative instruments and hedges, assets | 1,027 | 2,787 | 7,076 | 3,269 | 13,165 | ||||
| Regulatory asset | 19,506 | 41,439 | 19,794 | 10,786 | 5,144 | 4,796 | |||
| Other current assets | 2,723 | 428 | 1,033 | 436 | 2,879 | 5,684 | |||
| Other undisclosed current assets | 52,491 | 46,084 | 31,858 | 27,066 | 26,913 | 34,626 | |||
| Total current assets: | 185,699 | 193,976 | 173,135 | 136,431 | 134,826 | 191,537 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 12,426 | 14,421 | 10,139 | 11,194 | 11,563 | ✕ | |||
| Property, plant and equipment | 2,456,374 | 1,810,473 | 1,744,878 | 1,601,178 | 1,463,797 | 1,383,972 | |||
| Intangible assets, net (including goodwill) | 525,039 | 64,072 | 57,900 | 47,023 | 40,797 | 32,044 | |||
| Goodwill | 508,174 | 46,213 | 44,708 | 38,731 | 32,668 | 25,837 | |||
| Intangible assets, net (excluding goodwill) | 16,865 | 17,859 | 13,192 | 8,292 | 8,129 | 6,207 | |||
| Contract with customer, asset, after allowance for credit loss | 3,524 | 4,321 | 4,806 | 4,816 | 3,465 | 2,614 | |||
| Derivative instruments and hedges | 40 | 982 | |||||||
| Regulated entity, other noncurrent assets | 100,149 | 109,160 | 105,086 | 114,707 | 74,229 | 72,989 | |||
| Other undisclosed noncurrent assets | 21,453 | 17,632 | 18,925 | 17,138 | 54,521 | 10,515 | |||
| Total noncurrent assets: | 3,119,005 | 2,021,061 | 1,941,734 | 1,796,056 | 1,648,372 | 1,502,134 | |||
| TOTAL ASSETS: | 3,304,704 | 2,215,037 | 2,114,869 | 1,932,487 | 1,783,198 | 1,693,671 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 127,526 | 102,615 | 97,294 | 100,075 | 91,579 | 164,932 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 11,241 | 10,588 | 9,198 | 8,377 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | 15,505 | 13,994 | 16,236 | 13,923 | ||
| Accounts payable | 77,481 | 61,496 | 52,628 | 60,253 | 54,068 | 129,804 | |||
| Accrued liabilities | 50,045 | 41,119 | 17,920 | 15,240 | 12,077 | 12,828 | |||
| Deferred revenue | 1,022 | 983 | 747 | 644 | 589 | ✕ | |||
| Debt | 198,358 | 223,640 | 239,596 | 189,244 | 292,971 | 306,393 | |||
| Derivative instruments and hedges, liabilities | 354 | 585 | 743 | 127 | 1,844 | 14,871 | |||
| Regulatory liability | 13,719 | 5,031 | 2,312 | 6,284 | 5,991 | 7,883 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 480 | ||
| Other undisclosed current liabilities | 45,405 | 36,169 | 35,741 | 32,658 | 30,350 | 33,675 | |||
| Total current liabilities: | 386,384 | 369,023 | 376,433 | 329,032 | 423,324 | 528,234 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,187,075 | 578,388 | 558,474 | 518,371 | 450,064 | 316,020 | |||
| Long-term debt, excluding current maturities | 1,187,075 | 578,388 | 549,903 | 508,499 | 440,168 | 316,020 | |||
| Liabilities, other than long-term debt | 485,141 | 434,825 | 405,832 | 387,999 | 167,577 | 330,978 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 156,820 | ||
| Deferred income tax liabilities | 259,082 | 256,167 | 233,550 | 205,388 | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 15,330 | 16,965 | 24,120 | 30,673 | 30,569 | 28,513 | |||
| Accrued environmental loss contingencies | 2,607 | 3,272 | 3,538 | 4,299 | 6,468 | 7,638 | |||
| Regulatory liability | 195,279 | 142,989 | 142,488 | 142,736 | 127,744 | 135,039 | |||
| Other liabilities | 1,366 | 1,410 | 2,136 | 4,903 | 2,796 | 2,968 | |||
| Operating lease, liability | 10,550 | 12,392 | 8,571 | 9,872 | 9,896 | ✕ | |||
| Derivative instruments and hedges, liabilities | 927 | 1,630 | |||||||
| Total noncurrent liabilities: | 1,672,216 | 1,013,213 | 964,306 | 906,370 | 617,641 | 646,998 | |||
| Total liabilities: | 2,058,600 | 1,382,236 | 1,340,739 | 1,235,402 | 1,040,965 | 1,175,232 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 1,246,104 | 832,801 | 774,130 | 697,085 | 561,577 | 518,439 | |||
| Common stock | 10,823 | 8,635 | 8,593 | 8,499 | 7,984 | 7,971 | |||
| Treasury stock, value | (9,050) | (7,060) | (7,240) | (5,679) | (4,543) | (3,854) | |||
| Additional paid in capital | 749,356 | 380,036 | 371,162 | 348,482 | 259,253 | 255,651 | |||
| Accumulated other comprehensive income (loss) | (2,738) | (1,379) | 1,303 | (2,865) | (6,267) | (6,713) | |||
| Retained earnings | 488,663 | 445,509 | 393,072 | 342,969 | 300,607 | 261,530 | |||
| Other undisclosed equity, attributable to parent | 9,050 | 7,060 | 7,240 | 5,679 | 4,543 | 3,854 | |||
| Total equity: | 1,246,104 | 832,801 | 774,130 | 697,085 | 561,577 | 518,439 | |||
| Other undisclosed liabilities and equity | 180,656 | ||||||||
| TOTAL LIABILITIES AND EQUITY: | 3,304,704 | 2,215,037 | 2,114,869 | 1,932,487 | 1,783,198 | 1,693,671 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 670,604 | 680,704 | 569,968 | 488,198 | 479,604 | 717,489 | ||
| Cost of revenue | (2,340) | (1,550) | (134) | (3,827) | (15,679) | (14,387) | ||
| Cost of goods and services sold | (15,679) | (14,387) | ||||||
| Provision for loan, lease, and other losses | (2,340) | (1,550) | (134) | (3,827) | ||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 668,264 | 679,154 | 569,834 | 484,371 | 463,925 | 703,102 | ||
| Operating expenses | (519,801) | (537,771) | (438,856) | (375,475) | (373,317) | (622,869) | ||
| Other undisclosed operating income | 2,340 | 1,550 | 134 | 3,827 | 15,679 | 14,387 | ||
| Operating income: | 150,803 | 142,933 | 131,112 | 112,723 | 106,287 | 94,620 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 1,438 | 5,051 | 1,721 | 3,222 | (1,830) | (615) | ||
| Interest and debt expense | (36,951) | (24,356) | (20,135) | (21,765) | (22,224) | (16,431) | ||
| Income from continuing operations before income taxes: | 115,290 | 123,628 | 112,698 | 94,180 | 82,233 | 77,574 | ||
| Income tax expense | (28,078) | (33,832) | (29,231) | (23,538) | (21,091) | (20,994) | ||
| Income from continuing operations: | 87,212 | 89,796 | 83,467 | 70,642 | 61,142 | 56,580 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 83,467 | 70,642 | 60,687 | 56,580 | |
| Loss from discontinued operations | (455) | |||||||
| Net income: | 87,212 | 89,796 | 83,467 | 70,642 | 60,687 | 56,580 | ||
| Other undisclosed net income (loss) attributable to parent | (1) | 856 | 4,466 | |||||
| Net income available to common stockholders, diluted: | 87,212 | 89,796 | 83,466 | 71,498 | 65,153 | 56,580 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 87,212 | 89,796 | 83,467 | 70,642 | 60,687 | 56,580 | ||
| Other comprehensive income (loss) | (1,359) | (2,682) | 4,168 | 3,402 | 561 | (1,534) | ||
| Comprehensive income: | 85,853 | 87,114 | 87,635 | 74,044 | 61,248 | 55,046 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (1) | 856 | 4,466 | |||||
| Comprehensive income, net of tax, attributable to parent: | 85,853 | 87,114 | 87,634 | 74,900 | 65,714 | 55,046 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.