| Segment Information |
Note 11 - Segment Information
The Company conducts its operations through three wholly owned subsidiaries: NP, which operates in the US; MPA, which is primarily active in Australia, and MPUK, which includes our operations in the UK, as well as Corporate, which is treated as a cost center. See Note 1 - Basis of Presentation, for additional information regarding the Company's realignment of its reporting segments.
The following table presents segment information for the fiscal years ended:
|
|
|
|
|
|
|
|
|
|
June 30, |
|
2013 |
|
2012 |
|
(In thousands) |
Revenues: |
|
|
|
NP |
$ |
6,131 |
|
|
$ |
6,173 |
|
MPA |
939 |
|
|
7,533 |
|
Corporate |
329 |
|
|
646 |
|
Inter-segment eliminations |
(329 |
) |
|
(640 |
) |
Consolidated revenues |
$ |
7,070 |
|
|
$ |
13,712 |
|
|
|
|
|
Net (loss) income attributable to Magellan Petroleum Corporation: |
|
|
|
NP |
$ |
(326 |
) |
|
$ |
2,154 |
|
MPA |
(6,833 |
) |
|
29,260 |
|
MPUK |
(4,726 |
) |
|
(5,068 |
) |
Corporate (1)
|
27,523 |
|
|
(5,416 |
) |
Inter-segment eliminations |
(35,405 |
) |
|
5,568 |
|
Consolidated net (loss) income attributable to Magellan Petroleum Corporation |
$ |
(19,767 |
) |
|
$ |
26,498 |
|
|
|
|
|
Assets: |
|
|
|
NP |
$ |
26,093 |
|
|
$ |
10,833 |
|
MPA |
32,735 |
|
|
62,535 |
|
MPUK |
2,021 |
|
|
5,213 |
|
Corporate |
96,229 |
|
|
59,099 |
|
Inter-segment eliminations |
(74,806 |
) |
|
(45,106 |
) |
Consolidated assets |
$ |
82,272 |
|
|
$ |
92,574 |
|
|
|
|
|
Expenditures for additions to long lived assets: |
|
|
|
NP |
$ |
2,124 |
|
|
$ |
4,857 |
|
MPA |
192 |
|
|
3,440 |
|
MPUK |
350 |
|
|
1,135 |
|
Corporate |
259 |
|
|
145 |
|
Consolidated expenditures for long lived assets |
$ |
2,925 |
|
|
$ |
9,577 |
|
(1) During fiscal year June 30, 2013, approximately $35.9 million was included in Corporate net income represented by cash dividends received from MPA, and a deemed distribution related to the transfer of MPUK from MPA to MPC. These intercompany transactions have been eliminated in arriving at the consolidated results.
The following table summarizes other significant items for the fiscal years ended:
|
|
|
|
|
|
|
|
|
|
June 30, |
|
2013 |
|
2012 |
|
(In thousands) |
Depletion, depreciation, amortization, and accretion: |
|
|
|
NP |
$ |
988 |
|
|
$ |
819 |
|
MPA |
413 |
|
|
695 |
|
Corporate |
133 |
|
|
230 |
|
Consolidated depletion, depreciation, amortization, and accretion |
$ |
1,534 |
|
|
$ |
1,744 |
|
|
|
|
|
Lease operating: |
|
|
|
NP |
$ |
4,851 |
|
|
$ |
5,232 |
|
MPA |
2,186 |
|
|
7,665 |
|
Consolidated lease operating |
$ |
7,037 |
|
|
$ |
12,897 |
|
|
|
|
|
Exploration: |
|
|
|
NP |
$ |
398 |
|
|
$ |
1,495 |
|
MPA |
4,169 |
|
|
2,448 |
|
MPUK |
3,700 |
|
|
2,348 |
|
Consolidated exploration |
$ |
8,267 |
|
|
$ |
6,291 |
|
|
|
|
|
Income tax benefit (expense): |
|
|
|
MPA |
$ |
1,266 |
|
|
$ |
5,951 |
|
Consolidated income tax benefit (expense) |
$ |
1,266 |
|
|
$ |
5,951 |
|
|