Assets Held-for-Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Assets Held for Sale and Discontinued Operations

	As of December 31,
	2014		2013
	(In thousands)
Oil and Gas	$	146,467	$	239,936
Rig Services		—		3,328

	$	146,467	$	243,264

Schedule of condensed statements of income (loss) from discontinued operations for each operating segment

	Year Ended December 31,
	2014			2013			2012
	(In thousands, except percentages)
Operating revenues
Oil and Gas	$	13,143		$	25,327		$	27,363
Rig Services	$	—		$	127,154		$	172,335
Income (loss) from Oil & Gas discontinued operations:
Income (loss) from discontinued operations	$	(1,840	)	$	(17,371	)	$	(3,958	)
Less: Impairment charges or other (gains) and losses on sale of wholly owned assets		(1,313	)		24,087	(1)		106,096	(2)
Less: Income tax expense (benefit)		(548	)		(14,062	)		(44,021	)

Income (loss) from Oil and Gas discontinued operations, net of tax	$	21		$	(27,396	)	$	(66,033	)

Income (loss) from Rig Services discontinued operations:
Income (loss) from discontinued operations	$	—		$	17,680		$	9,846
Less: Impairment charges or other (gains) and losses on sale of wholly owned assets		—			(4,368	)(3)		9,087	(4)
Less: Income tax expense (benefit)		—			5,831			2,252

Income (loss) from Rig Services discontinued operations, net of tax	$	—		$	16,217		$	(1,493	)

Income (loss) from discontinued operations, net of tax	$	21		$	(11,179	)	$	(67,526	)

Oil and Gas

(1)

Includes impairments during 2013 of $61.5 million to write down the carrying value of some of our wholly owned oil and gas-centered assets, partially offset by a gain related to our restructure of our future pipeline obligations.

(2)

Includes adjustments during 2012 to increase our pipeline contractual commitments by $128.1 million and other gains and losses related to the sale of our wholly owned oil and gas-centered assets.

In 2013, we sold some of our wholly owned oil and gas assets and received proceeds of $90.0 million.

In 2012, we sold our remaining wholly owned oil and gas business in Colombia and sold additional wholly owned assets in the United States. In December 2012, we sold our 49.7% ownership interest in the U.S. unconsolidated oil and gas joint venture, to the remaining equity owners. During 2012, we received cumulative gross cash proceeds of $254.5 million from sales of oil and gas assets.

Rig Services

(3)	Represents the gains recognized from our sale of our logistics services and construction services. In April 2013, we sold the assets of one of our former Canadian subsidiaries that provided logistic services for proceeds of $9.3 million. In October 2013, we sold Peak, one of our businesses in Alaska, for which we received cash proceeds of $135.5 million.
(4)	Includes $7.8 million respectively, of impairment (a Level 3 measurement) in 2012 to our aircraft and logistics assets as a result of the continued downturn in the oil and gas industry in Canada.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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