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Segment Information | 3 Months Ended
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Mar. 31, 2022
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 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. The remainder of our operations is 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 |  |
|  | March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
(in thousands) |  |  |  |  |  |  |  |
Operating Revenues, Unaffiliated Customers |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 124,058 |  |  | $ | 120,721 |  |  |  |  |
Unregulated Energy |  | 98,822 |  |  | 70,466 |  |  |  |  |
Total operating revenues, unaffiliated customers |  | $ | 222,880 |  |  | $ | 191,187 |  |  |  |  |
Intersegment Revenues (1) |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 3,833 |  |  | $ | 476 |  |  |  |  |
Unregulated Energy |  | 1,996 |  |  | 4,293 |  |  |  |  |
Other businesses |  | 606 |  |  | 132 |  |  |  |  |
Total intersegment revenues |  | $ | 6,435 |  |  | $ | 4,901 |  |  |  |  |
Operating Income |  |  |  |  |  |  |  |
Regulated Energy |  | $ | 34,681 |  |  | $ | 32,637 |  |  |  |  |
Unregulated Energy |  | 20,046 |  |  | 18,983 |  |  |  |  |
Other businesses and eliminations |  | 138 |  |  | (23) |  |  |  |  |
Operating income |  | 54,865 |  |  | 51,597 |  |  |  |  |
Other income (expense), net |  | 913 |  |  | 375 |  |  |  |  |
Interest charges |  | 5,339 |  |  | 5,105 |  |  |  |  |
Income before Income Taxes |  | 50,439 |  |  | 46,867 |  |  |  |  |
Income Taxes |  | 13,506 |  |  | 12,401 |  |  |  |  |
Net Income |  | $ | 36,933 |  |  | $ | 34,466 |  |  |  |  |
(1) All significant intersegment revenues are billed at market rates and have been eliminated from consolidated operating revenues.
(in thousands) |  | March 31, 2022 |  | December 31, 2021
Identifiable Assets |  |  |  |
Regulated Energy segment |  | $ | 1,620,209 |  |  | $ | 1,629,191 |
Unregulated Energy segment |  | 440,936 |  |  | 439,114 |
Other businesses and eliminations |  | 48,484 |  |  | 46,564 |
Total identifiable assets |  | $ | 2,109,629 |  |  | $ | 2,114,869 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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