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Segment Information
6 Months Ended
Jun. 30, 2024
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/or products or services, and the operating results of each segment are regularly reviewed by the chief operating decision maker, our President and 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 distribution operations, mobile compressed natural gas distribution and pipeline solutions operations, and sustainable energy investments including renewable natural gas. 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 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 tables present financial information about our reportable segments:

Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
(in thousands)
Operating Revenues, Unaffiliated Customers
Regulated Energy$127,000 $100,657 $294,927 $242,279 
Unregulated Energy39,272 34,936 117,089 111,443 
Total operating revenues, unaffiliated customers$166,272 $135,593 $412,016 $353,722 
Intersegment Revenues (1)
Regulated Energy$3,625 $484 $4,124 $1,132 
Unregulated Energy2,147 5,816 7,433 12,473 
Other businesses46 45 91 91 
Total intersegment revenues$5,818 $6,345 $11,648 $13,696 
Operating Income (Loss)
Regulated Energy$40,505 $29,291 $98,614 $66,916 
Unregulated Energy238 (993)21,667 16,252 
Other businesses and eliminations47 48 94 93 
Operating income40,790 28,346 120,375 83,261 
Other income, net1,110 831 1,305 1,107 
Interest charges16,813 6,964 33,839 14,196 
Income Before Income Taxes25,087 22,213 87,841 70,172 
Income taxes6,816 6,080 23,402 17,695 
Net Income$18,271 $16,133 $64,439 $52,477 
(1) All significant intersegment revenues are billed at market rates and have been eliminated from consolidated operating revenues.

(in thousands)June 30, 2024December 31, 2023
Identifiable Assets
Regulated Energy segment$2,882,798 $2,781,581 
Unregulated Energy segment 447,913 477,402 
Other businesses and eliminations50,042 45,721 
Total Identifiable Assets $3,380,753 $3,304,704