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

9 Months Ended

Sep. 30, 2015

Assets Held-for-Sale and Discontinued Operations

Schedule of assets held for sale

	September 30,			December 31,
	2015			2014
	(In thousands)
Oil and Gas	$	76,300	(1)	$	146,467
Other	2,100			—
	$	78,400		$	146,467

(1)As of September 30, 2015, the carrying value of these assets was reduced by $51.0 million to reflect current fair value. The impairment charge is reflected in income (loss) from discontinued operations, net of tax in our consolidated statements of income (loss) as outlined below.

Schedule of condensed statements of income (loss) from discontinued operations

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
	(In thousands)
Operating revenues (1)	$	432		$	2,314		$	2,737		$	10,842
Income (loss) from discontinued operations:
Income (loss) from discontinued operations	$	(1,388	)	$	(509	)	$	(3,903	)	$	1,027
Less: Impairment charges or other (gains) and losses on sale of wholly owned assets and obligations	55,044		(2)	(7,312		)(3)	56,075			(5,901		)
Less: Income tax expense (benefit)	(11,157		)	2,798			(18,911		)	2,440
Income (loss) from discontinued operations, net of tax	$	(45,275	)	$	4,005		$	(41,067	)	$	4,488

(1) Reflects operating revenues of our historical oil and gas operating segment.

(2) Reflects a $51.0 million impairment charge due to the deterioration of economic conditions in the dry gas market in western Canada as well as an impairment charge for a note receivable of $4.0 million remaining from the sale of one of our former Canada subsidiaries that provided logistics services.

(3) Reflects a gain related to our pipeline contractual commitments resulting from mitigation agreements to transfer pipeline/processing capacity.