XML 159 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information We use the management approach to identify operating segments. We organize our business around differences in regulatory environment 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. Our operations are entirely domestic and are comprised of two reportable segments: •Regulated Energy. Includes energy distribution and transmission services (natural gas distribution, natural gas transmission and electric distribution 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. Includes energy transmission, energy generation (the operations of our Eight Flags' CHP plant), propane operations, and the new mobile compressed natural gas distribution and pipeline solutions subsidiary. Also included in this segment are other unregulated energy services, such as energy-related merchandise sales and heating, ventilation and air conditioning, plumbing and electrical services. These operations are unregulated as to their rates and services. Effective in the third quarter of 2019, the natural gas marketing and related services subsidiary (PESCO), previously reported in the Unregulated Energy segment, was reflected in discontinued operations. See Note 3, Acquisitions and Divestitures for additional details of the sale of PESCO. The remainder of our operations are presented as “Other businesses and eliminations,” which consists of unregulated subsidiaries that own real estate leased to Chesapeake Utilities, as well as certain corporate costs not allocated to other operations. The following table presents financial information about our reportable segments:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
(in thousands) |  |  |  |  |  |  |  |
Operating Revenues, Unaffiliated Customers |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 82,297 |  |  | $ | 74,027 |  |  | $ | 257,810 |  |  | $ | 249,978 |
Unregulated Energy |  | 19,122 |  |  | 18,599 |  |  | 93,350 |  |  | 97,652 |
Total operating revenues, unaffiliated customers |  | $ | 101,419 |  |  | $ | 92,626 |  |  | $ | 351,160 |  |  | $ | 347,630 |
Intersegment Revenues (1) |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 465 |  |  | $ | 553 |  |  | $ | 1,425 |  |  | $ | 1,623 |
Unregulated Energy |  | 3,592 |  |  | 3,681 |  |  | 11,116 |  |  | 11,333 |
Other businesses |  | 131 |  |  | 133 |  |  | 396 |  |  | 395 |
Total intersegment revenues |  | $ | 4,188 |  |  | $ | 4,367 |  |  | $ | 12,937 |  |  | $ | 13,351 |
Operating Income |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 20,482 |  |  | $ | 17,540 |  |  | $ | 66,376 |  |  | $ | 65,310 |
Unregulated Energy |  | (3,092) |  |  | (3,169) |  |  | 11,050 |  |  | 11,317 |
Other businesses and eliminations |  | 16 |  |  | (14) |  |  | 92 |  |  | 18 |
Operating income |  | 17,406 |  |  | 14,357 |  |  | 77,518 |  |  | 76,645 |
Other income (expense), net |  | (40) |  |  | (351) |  |  | 2,997 |  |  | (731) |
Interest charges |  | 4,584 |  |  | 5,403 |  |  | 15,452 |  |  | 16,583 |
Income from Continuing Operations before Income Taxes |  | 12,782 |  |  | 8,603 |  |  | 65,063 |  |  | 59,331 |
Income Taxes on Continuing Operations |  | 3,502 |  |  | 2,352 |  |  | 16,082 |  |  | 15,354 |
Income from Continuing Operations |  | 9,280 |  |  | 6,251 |  |  | 48,981 |  |  | 43,977 |
Income (loss) from Discontinued Operations, Net of Tax |  | (19) |  |  | (630) |  |  | 165 |  |  | (1,388) |
Net Income |  | $ | 9,261 |  |  | $ | 5,621 |  |  | $ | 49,146 |  |  | $ | 42,589 |
(1) All significant intersegment revenues are billed at market rates and have been eliminated from consolidated operating revenues.
(in thousands) |  | September 30, 2020 |  | December 31, 2019
Identifiable Assets |  |  |  |
Regulated Energy segment |  | $ | 1,530,689 |  |  | $ | 1,434,066 |
Unregulated Energy segment |  | 305,536 |  |  | 296,810 |
Other businesses and eliminations |  | 51,863 |  |  | 52,322 |
Total identifiable assets |  | $ | 1,888,088 |  |  | $ | 1,783,198 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration