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Segment Information | 6 Months Ended
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Jun. 30, 2012
Segment Information [Abstract] |
Segment Information |
7. | Segment Information
We use the management approach to identify operating segments. We organize our business around differences in regulatory environment and/or products or services, and the operating results of each segment are regularly reviewed by the chief operating decision maker (our Chief Executive Officer) in order to make decisions about resources and to assess performance. The segments are evaluated based on their pre-tax operating income. Our operations comprise three operating segments:
| • |  | Regulated Energy. The regulated energy segment includes natural gas distribution, electric distribution and natural gas transmission operations. All operations in this segment are regulated, as to their rates and services, by the PSC having jurisdiction in each operating territory or by the FERC in the case of Eastern Shore.
| • |  | Unregulated Energy. The unregulated energy segment includes natural gas marketing, propane distribution and propane wholesale marketing operations, which are unregulated as to their rates and charges for their services.
| • |  | Other. The “other” segment consists primarily of the advanced information services operation, unregulated subsidiaries that own real estate leased to Chesapeake and certain corporate costs not allocated to other operations.
The following table presents information about our reportable segments.
|  | Three Months Ended |  |  | Six Months Ended |
For the Periods Ended June 30, |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Operating Revenues, Unaffiliated Customers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 54,330 |  |  | $ | 54,011 |  |  | $ | 126,348 |  |  | $ | 138,695 |
Unregulated Energy\ |  |  | 25,176 |  |  |  | 29,692 |  |  |  | 70,063 |  |  |  | 88,442 |
Other |  |  | 4,391 |  |  |  | 3,128 |  |  |  | 8,400 |  |  |  | 6,292 |
Total operating revenues, unaffiliated customers |  | $ | 83,897 |  |  | $ | 86,831 |  |  | $ | 204,811 |  |  | $ | 233,429 |
Intersegment Revenues (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 1,223 |  |  | $ | 182 |  |  | $ | 1,501 |  |  | $ | 368 |
Unregulated Energy |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | 221 |  |  |  | 195 |  |  |  | 456 |  |  |  | 389 |
Total intersegment revenues |  | $ | 1,444 |  |  | $ | 377 |  |  | $ | 1,957 |  |  | $ | 757 |
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 10,505 |  |  | $ | 7,787 |  |  | $ | 25,303 |  |  | $ | 24,020 |
Unregulated Energy |  |  | (401 | ) |  |  | 80 |  |  |  | 4,753 |  |  |  | 8,669 |
Other and eliminations |  |  | 351 |  |  |  | (91 | ) |  |  | 472 |  |  |  | (74 | )
Total operating income |  |  | 10,455 |  |  |  | 7,776 |  |  |  | 30,528 |  |  |  | 32,615 |
Other income, net of other expenses |  |  | 153 |  |  |  | 27 |  |  |  | 349 |  |  |  | 50 |
Interest |  |  | 2,241 |  |  |  | 2,114 |  |  |  | 4,532 |  |  |  | 4,265 |
Income before income taxes |  |  | 8,367 |  |  |  | 5,689 |  |  |  | 26,345 |  |  |  | 28,400 |
Income taxes |  |  | 3,307 |  |  |  | 2,169 |  |  |  | 10,558 |  |  |  | 11,133 |
Net income |  | $ | 5,060 |  |  | $ | 3,520 |  |  | $ | 15,787 |  |  | $ | 17,267 |
(1) | All significant intersegment revenues are billed at market rates and have been eliminated from consolidated operating revenues.
|  | June 30, 2012 |  |  | December 31, 2011 |
(in thousands) |  |  |  |  |  |
Identifiable Assets |  |  |  |  |  |  |  |
Regulated energy |  | $ | 572,073 |  |  | $ | 565,563 |
Unregulated energy |  |  | 70,166 |  |  |  | 107,916 |
Other |  |  | 37,461 |  |  |  | 35,587 |
Total identifiable assets |  | $ | 679,700 |  |  | $ | 709,066 |
Our operations are almost entirely domestic. Our advanced information services subsidiary, BravePoint, has infrequent transactions in foreign countries, primarily Canada, which are denominated and paid in U.S. dollars. These transactions are immaterial to the consolidated revenues.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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