Charter Case

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The Charter Company Page 1 of 9 The Charter Company Overview The Charter Company was organized in 1959 as a consolidation of several existing corporations. The company’s primary line of business was petroleum production and marketing, although it also maintained a significant equity investment in the Charter Security Life Insurance Company. In 1983, the Charter Company was listed by Fortune magazine among the 100 largest U.S. industrial companies. For the year ended December 31, 1983, revenues totaled $5.7 billion, and income from continuing operations was $50.4 million. For 1982, revenues were $4 billion, and earnings from continuing operations were $29.8 million. In spite of the continuing worldwide glut in crude oil and…show more content…
| $133,896 | $108,180 | $155,673 | $145,485 | $446,649 | Income taxes | 83514 | 78350 | 99727 | 95248 | 78923 | Earnings from continuing operations | $50,382 | $29,830 | $55,946 | $50,237 | $367,726 | Discontinued operations, net | (1,950) | 5,430 | (48,229) | - | - | Extraordinary charge | - | - | - | - | (2,388) | Earnings before cumulative effect | $48,432 | $35,260 | $7,717 | $50,237 | $365,338 | Cumulative effect on prior years of a | change in accounting principle | 5,463 | - | - | - | - | Net earnings | $53,895 |
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