Disposal of long-lived assets

9 Months Ended

Sep. 30, 2018

Disposal of long-lived assets [Line Items]

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

DISPOSALS OR IMPAIRMENTS OF LONG-LIVED ASSETS

On March 15, 2018, we completed the sale of our Mexican asphalt business for $70.7 million. We recorded a pre-tax gain on disposal of $1.6 million for the nine months ended September 30, 2018. The Mexican asphalt business was held for sale and carried at net realizable value at December 31, 2017. The Mexican asphalt business contributed $2.3 million of pre-tax income for the nine months ended September 30, 2018, excluding the gain on disposal.

On April 12, 2018, we completed the sale of our U.K. operations, SemLogistics, for $73.1 million in cash. We recorded a pre-tax gain on disposal of $0.4 million for the nine months ended September 30, 2018. The U.K. business was held for sale and carried at net realizable value at December 31, 2017. The U.K. business contributed pre-tax income of $5.4 million for the nine months ended September 30, 2018, excluding the gain on disposal.

For the nine months ended September 30, 2018, we recorded an incremental gain of $1.4 million related to customary post-closing adjustments related to the prior year sale of our equity interest in Glass Mountain Pipeline, LLC.