Discontinued Operations

6 Months Ended

Jun. 30, 2011

Discontinued Operations [Abstract]

Discontinued Operations

Note 3. Discontinued Operations

Summarized Results of Discontinued Operations

	Three months ended						Six months ended
	June 30,						June 30,
	2011			2010			2011			2010
	(Millions)
Revenues	$	4		$	4		$	7		$	9
Income (loss) from discontinued operations before impairments and income taxes	$	—		$	(2	)	$	(2	)	$	2
Impairments		(2	)		—			(11	)		—
(Provision) benefit for income taxes		(1	)		(1	)		2			(3	)
Income (loss) from discontinued operations	$	(3	)	$	(3	)	$	(11	)	$	(1	)

     Impairments in 2011 reflect write-downs to an estimate of fair value less costs to sell the assets of our Arkoma basin operations. This nonrecurring fair value measurement, which falls within Level 3 of the fair value hierarchy, was based on a probability-weighted discounted cash flow analysis that included purchase offers we have received for the assets.

     The assets of our discontinued operations comprise significantly less than 0.5 percent of our total consolidated assets as of June 30, 2011, and December 31, 2010, and are reported primarily within other current assets and deferred charges and other assets and deferred charges, respectively, on our Consolidated Balance Sheet. Liabilities of our discontinued operations are insignificant for these periods.