Discontinued Operations Discontinued Operations

12 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

The Company has divested all of its oil and gas working interest properties. As a result of this significant change in operations, the Company has reported the results of operations as discontinued operations for the year ended December 31, 2017. There was no activity related to these operations in fiscal 2019 or the nine months ended September 30, 2018.

Summarized results from discontinued operations were as follows:

	Year Ended   December 31, 2017
	(In millions)
Revenues	$	—
Cost of sales	—
Selling, general and administrative expense	(0.2		)
Income from discontinued operations before income taxes	$	0.2
Loss on sale of assets before income taxes	0.2
Income tax benefit	46.0
Income from discontinued operations, net of taxes	$	46.0

In 2017, the Company sold all common stock of Forestar Petroleum Corporation for $0.1 million, which completed the sale of all of its oil and gas assets and related entities. This transaction resulted in a significant tax loss, and the corresponding tax benefit is reported in discontinued operations in 2017.

Operating activities and investing activities of discontinued operations included in the consolidated statements of cash flows were as follows:

	Year Ended   December 31, 2017
	(In millions)
Operating activities:
Decrease in accounts payable and other accrued liabilities	$	(3.0	)
Loss on sale of assets	0.2
	$	(2.8	)
Investing activities:
Proceeds from sale of assets	$	0.2