| Industries |
|---|
| Health Care Distribution and Services |
| Construction and Engineering |
| Construction Materials |
| Construction and Farm Machinery and Heavy Trucks |
| Environmental Services |
| Oil and Gas Storage and Transportation |
| Oil and Gas Refining and Marketing and Transportation |
| Transportation |
| Technology Hardware Storage and Peripherals |
| Information Technology |
| Technology Hardware and Equipment |
| Exposures |
|---|
| Military |
| Intelligence |
| Cooperate |
| Regime |
| Provide |
| Political reform |
| Express intent |
| Event Codes |
|---|
| Accident |
| Solicit support |
| Warn |
| Yield to order |
| Yield |
| Demand |
| Yield position |
| Vote |
| Ask for protection |
| Sports contest |
| Promise |
| Wiki | Wiki Summary |
|---|---|
| Passeig de Lluís Companys, Barcelona | Passeig de Lluís Companys (Catalan pronunciation: [pəˈsɛdʒ də ʎuˈis kumˈpaɲs]) is a promenade in the Ciutat Vella and Eixample districts of Barcelona, Catalonia, Spain, and can be seen as an extension of Passeig de Sant Joan. It was named after President Lluís Companys, who was executed in 1940. |
| Estadi Olímpic Lluís Companys | Estadi Olímpic Lluís Companys (Catalan pronunciation: [əsˈtaði uˈlimpiɡ ʎuˈis kumˈpaɲs], formerly known as the Estadi Olímpic de Montjuïc and Estadio de Montjuic) is a stadium in Barcelona, Catalonia, Spain. Originally built in 1927 for the 1929 International Exposition in the city (and Barcelona's bid for the 1936 Summer Olympics, which were awarded to Berlin), it was renovated in 1989 to be the main stadium for the 1992 Summer Olympics and 1992 Summer Paralympics. |
| Companys, procés a Catalunya | Companys, procés a Catalunya (Spanish: Companys, proceso a Cataluña) is a 1979 Spanish Catalan drama film directed by Josep Maria Forn, based on the last months of the life of the President of Catalonia, Lluís Companys, in which he shows his detention by the Nazis and his subsequent execution by the Spanish Francoists. It competed in the Un Certain Regard section at the 1979 Cannes Film Festival. |
| Holding company | A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. |
| List of largest companies in the United States by revenue | This list comprises the largest companies in the United States by revenue as of 2022, according to the Fortune 500 tally of companies. Retail corporation Walmart has been the largest company in the US by revenue since 2014. |
| Amazon (company) | Amazon.com, Inc. ( AM-ə-zon) is an American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. |
| Natural gas | Natural law (Latin: ius naturale, lex naturalis) is a system of law based on a close observation of human nature, and based on values intrinsic to human nature that can be deduced and applied independently of positive law (the express enacted laws of a state or society). According to natural law theory, all people have inherent rights, conferred not by act of legislation but by "God, nature, or reason." Natural law theory can also refer to "theories of ethics, theories of politics, theories of civil law, and theories of religious morality."In the Western tradition it was anticipated by the Pre-Socratics, for example in their search for principles that governed the cosmos and human beings. |
| Liquefied natural gas | Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). |
| Natural gas vehicle | A natural gas vehicle (NGV) is an alternative fuel vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG). Natural gas vehicles should not be confused with autogas vehicles powered by liquefied petroleum gas (LPG), mainly propane, a fuel with a fundamentally different composition. |
| Natural gas in Ukraine | Ukraine has been estimated to possess natural gas reserves of over 1 trillion cubic meters and in 2018 was ranked 26th among countries with proved reserves of natural gas. Its total gas reserves have been estimated at 5.4 trillion cubic meters. |
| Natural gas prices | Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe. |
| Natural-gas condensate | Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure. |
| Natural-gas processing | Natural-gas processing is a range of industrial processes designed to purify raw natural gas by removing impurities, contaminants and higher molecular mass hydrocarbons to produce what is known as pipeline quality dry natural gas. Natural gas has to be processed in order to prepare it for final use and ensure that elimination of contaminants.Natural-gas processing starts underground or at the well-head. |
| Chesapeake Bay Bridge–Tunnel | The Chesapeake Bay Bridge–Tunnel (CBBT, officially the Lucius J. Kellam Jr. Bridge–Tunnel) is a 17.6-mile (28.3 km) bridge–tunnel that crosses the mouth of the Chesapeake Bay between Delmarva and Hampton Roads in the U.S. state of Virginia. |
| Operating cash flow | In financial accounting, operating cash flow (OCF), cash flow provided by operations, cash flow from operating activities (CFO) or free cash flow from operations (FCFO), refers to the amount of cash a company generates from the revenues it brings in, excluding costs associated with long-term investment on capital items or investment in securities. Operating activities include any spending or sources of cash that’s involved in a company’s day-to-day business activities. |
| Cash and cash equivalents | Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet. Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount". |
| Financial condition report | In accounting, a financial condition report (FCR) is a report on the solvency condition of an insurance company that takes into account both the current financial status, as reflected in the balance sheet, and an assessment of the ability of the company to survive future risk scenarios. Risk assessment in an FCR involves dynamic solvency testing, a type of dynamic financial analysis that simulates management response to risk scenarios, to test whether a company could remain solvent in the face of deteriorating economic conditions or major disasters. |
| Balance sheet | In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. |
| Financial statement | Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand. |
| Financial law | Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally. |
| Trustmark (bank) | Trustmark is a commercial bank and financial services company headquartered in Jackson, Mississippi, United States, with subsidiaries Trustmark National Bank, Trustmark Investment Advisors, and Fisher Brown Bottrell Insurance. The bank's initial predecessor, The Jackson Bank, was chartered by the State of Mississippi in 1889. |
| Financial analysis | Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business or project. \nIt is performed by professionals who prepare reports using ratios and other techniques, that make use of information taken from financial statements and other reports. |
| Form 10-K | A Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. Although similarly named, the annual report on Form 10-K is distinct from the often glossy "annual report to shareholders," which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document). |
| Federal takeover of Fannie Mae and Freddie Mac | In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis. |
| East India Company | The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia. |
| Chesapeake, Virginia | Chesapeake is an independent city in the Commonwealth of Virginia. As of the 2020 census, the population was 249,422, it is the second-most populous independent city in Virginia, tenth-largest in the Mid-Atlantic, and the 90th most populous city in the United States. |
| Chesapeake Shores | Chesapeake Shores is a drama television series, based on the novel series of the same name by Sherryl Woods, produced by Chesapeake Shores Productions Inc in association with Borderline Distribution. The series had a two-hour premiere on the Hallmark Channel on August 14, 2016. |
| Chesapeake Energy | Chesapeake Energy Corporation is an American energy company engaged in hydrocarbon exploration. It is headquartered in Oklahoma City. |
| Chesapeake Colonies | The Chesapeake Colonies were the Colony and Dominion of Virginia, later the Commonwealth of Virginia, and Province of Maryland, later Maryland, both colonies located in British America and centered on the Chesapeake Bay. Settlements of the Chesapeake region grew slowly due to diseases such as malaria. |
| Chesapeake Bay Retriever | The Chesapeake Bay Retriever is a large-sized breed of dog belonging to the retriever, gundog, and sporting breed groups. The breed was developed in the United States Chesapeake Bay area during the 19th century. |
| Chesapeake Bay Bridge | The Chesapeake Bay Bridge (also known locally as the Bay Bridge) is a major dual-span bridge in the U.S. state of Maryland. Spanning the Chesapeake Bay, it connects the state's rural Eastern Shore region with the urban Western Shore, between Stevensville and the capital city of Annapolis. |
| Discounted cash flow | In finance, discounted cash flow (DCF) analysis is a method of valuing a security, project, company, or asset using the concepts of the time value of money. \nDiscounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management and patent valuation. |
| Valuation using discounted cash flows | Valuation using discounted cash flows (DCF valuation) is a method of estimating the current value of a company based on projected future cash flows adjusted for the time value of money.\nThe cash flows are made up of those within the “explicit” forecast period, together with a continuing or terminal value that represents the cash flow stream after the forecast period. |
| Risk Factors |
|---|
| CHESAPEAKE UTILITIES CORP Item 1A Risk Factors 8 Item 1A Risk Factors |
| The following is a discussion of the primary factors that may affect the operations and/or financial performance of the regulated and unregulated businesses of Chesapeake |
| Refer to the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under Item 7 of this report for an additional discussion of these and other related factors that affect the Company’s operations and/or financial performance |
| The principal business, economic and other factors that affect the operations and/or financial performance of the Company include: Fluctuations in weather have the potential to adversely affect the company’s results of operations, cash flows and financial condition |
| The Company’s regulated utility and propane distribution operations are weather sensitive, with a significant portion of its revenues derived from the delivery of natural gas and propane to residential and commercial heating customers during the winter season |
| Generally, weather conditions directly influence the volume of natural gas and propane delivered by the regulated utility and propane distribution operations |
| Regulation of Chesapeake, including changes in the regulatory environment in general, may adversely affect the company’s results of operations, cash flows and financial condition |
| The state Public Service Commissions of Delaware, Maryland and Florida regulate the natural gas distribution operations |
| The Company’s natural gas transmission operation is regulated by the FERC These regulatory commissions set the rates in their respective jurisdictions that the Company can charge customers for its rate-regulated services |
| Changes in these rates, as ordered by regulatory commissions, affect the Company’s financial performance |
| The Company expects that regulatory commissions will continue to set the prices for delivery service that give it an opportunity to earn a just and reasonable rate of return on the capital invested in its distribution system and to recover reasonable operating expenses |
| The amount and availability of natural gas and propane supplies are difficult to predict, which may reduce our earnings |
| Natural gas and propane production can be impacted by factors outside of the Company’s control, such as weather and refinery closings |
| The Company believes it has adequate resources to meet its customer’s needs |
| ” - Page 8 - _________________________________________________________________ Chesapeake relies on direct connections to interstate pipelines and storage capacity |
| If these pipelines or storage facilities were unable to deliver for any reason it could impair Chesapeake’s ability to meet its customers’ full requirements |
| Chesapeake is responsible for acquiring both sufficient natural gas supplies and interstate pipeline and storage capacity to meet customer requirements |
| As such, Chesapeake must contract for reliable and adequate delivery capacity to its distribution system, while considering the dynamics of the interstate pipeline and storage capacity market, its own on-system peak-shaving facilities, as well as the characteristics of its customer base |
| Local distribution companies, including Chesapeake, along with other participants in the energy industry, have raised concerns regarding the gradual depletion in the availability of additional upstream interstate pipeline and storage capacity |
| Diminishing pipeline and storage capacity is a business issue that must be managed by the Company, whose customer base has grown at an annual rate between seven and nine percent |
| To help maintain the adequacy of pipeline and storage capacity for its growing customer base, the Company has contracted with various interstate pipeline and storage companies for the acquisition of additional existing capacity, as well as, the construction of new capacity by ESNG The Company will continue to monitor other opportunities to acquire or participate in obtaining additional pipeline and storage capacity that will improve or maintain the high level of service expected by its customer base |
| Natural gas and propane commodity price changes may affect the operating costs and competitive positions of the company’s natural gas and propane distribution operations, which could adversely affect its results of operations, cash flows and financial condition |
| Natural Gas Increased prices of natural gas are being driven by increased demand that is exceeding the growth in available supply |
| As discussed above, the fall 2005 hurricane season significantly reduced the current and anticipated availability of natural gas supply from the Gulf Coast region, causing a dramatic rise in natural gas prices during the fourth quarter of fiscal year 2005 |
| The higher natural gas prices resulted in significant increases in the cost of gas billed to customers during the upcoming 2005-2006 winter heating season |
| Under its regulated gas cost recovery mechanisms, Chesapeake records cost of gas expense equal to the cost of gas recovered in revenues from customers |
| Accordingly, an increase in the cost of gas due to an increase in the purchase price of the natural gas commodity generally has no direct effect on the regulated utility’s net revenues and net income |
| However, net income may be reduced due to higher expenses that may be incurred for uncollectible customer accounts, as well as lower volumes of natural gas deliveries to firm customers that may result due to lower natural gas consumption caused by customer conservation |
| Increases in the price of natural gas also can affect the Company’s operating cash flows, as well as the competitiveness of natural gas as an energy source |
| Propane The level of profitability in the retail propane business is largely dependent on the difference between retail sales price and product cost |
| The unit cost of propane is subject to volatile changes as a result of product supply or other market conditions, including, but not limited to, economic and political factors impacting crude oil and natural gas supply or pricing |
| Product cost changes can occur rapidly over a short period of time and can impact profitability |
| There is no assurance that the Company will be able to pass on product cost increases fully or immediately, particularly when product costs increase or decrease rapidly |
| Therefore, average retail sales prices can vary significantly from year to year as product costs fluctuate with propane, fuel oil, crude oil and natural gas commodity market conditions |
| In addition, in periods of sustained higher commodity prices, as was experienced in fiscal 2005, retail sales volumes may be negatively impacted by customer conservation efforts and increased amounts of uncollected accounts |
| The replacement of less efficient gas appliances with more energy efficient appliances will result in a decline of consumption per customer, which will lead to reduced revenues |
| Natural gas and propane supply requirements may be affected by changes in natural gas and propane consumption by end-use customers |
| Natural gas and propane usage per customer will decline as customers replace older, less efficient gas appliances with more efficient appliances |
| In addition, homebuilders in each of the growth areas are installing the newer, more efficient appliances in the homes they build |
| - Page 9 - _________________________________________________________________ Each of Chesapeake’s segments competes in a competitive environment and may be faced with losing customers to a competitor |
| See discussion on competition in Item 7 under the heading “Management’s Discussion and Analysis — Competition |
| ” A change in Chesapeake’s approved rate mechanisms for recovery of environmental remediation costs at former manufacturer gas sites could adversely affect the company’s results of operations, cash flows and financial condition |
| The Company and its subsidiaries are subject to federal, state and local laws and regulations related to environmental matters |
| These evolving laws and regulations may require expenditures over a long time frame to control environmental effects |
| A change in the economic conditions and interest rates could adversely affect the company’s results of operations and cash flows |
| The Company and its subsidiaries operate in one of the fastest growing regions in the nation |
| The continued prosperity of this region, supported by a relatively low interest-rate environment, has allowed our regulated utility to expand its delivery services to its customer base at a rate of growth approximately twice the national industry average during the past five years |
| A downturn in the economy of the region in which we operate, or a significant increase in interest rates, which cannot be predicted with accuracy, might adversely affect the Company’s ability to grow its regulated utility customer base and other businesses at the same rate they have grown in the recent past |
| The Company has been operating in a relatively low interest-rate environment in the recent past as it relates to long-term debt financings |
| Short-term interest rates had been relatively low in relation to historical levels; however, actions and communications by the Federal Reserve in the past year have resulted in increases in short-term interest rates |
| A rise in interest rates without the recovery of the higher cost of debt in the sales and/or transportation rates the Company charges its utility customers could adversely affect future earnings |
| A rise in short-term interest rates would negatively affect the results of operations, which depend on short-term debt to finance accounts receivable and storage gas inventories |
| Inflation / Deflation conditions may impact Chesapeake’s results of operations, cash flows, and financial position |
| See discussion on competition in Item 7 under the heading “Management’s Discussion and Analysis — Inflation |
| ” Changes in technology could adversely affect the Company’s advanced information services segment’s results of operations, cash flows, and financial condition |
| The advanced information services segment participates in a market that is characterized by rapidly changing technology and accelerating product introduction cycles |
| The success of our advanced information services segment depends upon our ability to address the rapidly changing needs of our customers by developing and supplying high-quality, cost-effective products, product enhancements and services on a timely basis, and by keeping pace with technological developments and emerging industry standards |
| The Company’s propane wholesale and marketing operation has credit risk that could adversely affect the Company’s results of operations, cash flows, and financial condition |
| The propane wholesale and marketing operation extends credit to its counter-parties |
| Despite prudent credit policies, the Company is exposed to the risk that it may not be able to collect amounts owed to it |
| If the counter-party to such a transaction fails to perform and any collateral the Company has secured is inadequate, the Company could experience financial losses |
| Chesapeake’s use of derivative instruments could adversely affect the company’s results of operations |
| The Company’s propane distribution operation uses derivative instruments, including forwards, swaps, and puts, to hedge propane price risk |
| Fluctuating propane prices cause earnings and financing costs of Chesapeake to be impacted |
| The use of derivative instruments that are not perfectly matched to the exposure could adversely affect the Company’s results of operations, cash flows, and financial conditions |