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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Derivative Instruments, Gain (Loss)
We further reclassified all commodity hedges from oil and natural gas operating revenues to gain (loss) on derivative instruments, net, as follows:

Years ended December 31, (in thousands)
2014
2013
2012
Open non-cash mark-to-market gains (losses) on derivative instruments
$
315,445

$
(47,832
)
$
58,750

Closed gains (losses) on derivative instruments
19,574

(2,192
)
25,403

Gain (loss) on derivative instruments, net
$
335,019

$
(50,024
)
$
84,153
Schedule of Discontinued Operations
The table below provides a detail of these items included in income (loss) from discontinued operations as follows:

Years ended December 31, (in thousands)
2014
2013
2012
Alagasco net income
$
40,646

$
57,399

$
49,402

Depreciation, depletion and amortization
(408
)
(598
)
(572
)
General and administrative
3,337

5,894

5,166

Interest expense
(17,306
)
(13,815
)
(1,693
)
Other income
(347
)
(1,342
)
(977
)
Income tax expense (benefit)
5,567

3,728

(727
)
Alagasco income from discontinued operations
31,489

51,266

50,599

Energen income (loss) from discontinued operations
(2,197
)
7,813

(1,658
)
Income from discontinued operations
$
29,292

$
59,079

$
48,941

As discussed in Note 14, Acquisition and Disposition of Properties, and above, the following tables detail held for sale properties by major classes of assets and liabilities:

(in thousands)
December 31, 2014
 
 
 
 
San Juan Basin*
Oil and natural gas properties
 
 
 
$
1,166,124

Less accumulated depreciation, depletion and amortization
 
 
 
(770,327
)
Total assets held for sale



395,797

Other long-term liabilities
 
 
 
(24,230
)
Total liabilities held for sale



(24,230
)
Total net assets held for sale



$
371,567

*The San Juan Basin natural gas assets which are held for sale as of December 31, 2014, do not qualify for discontinued operations as we will have ongoing operations in the San Juan Basin.
(in thousands)
December 31, 2013
 
Alabama Gas Corporation
Black Warrior Basin
North Louisiana/East Texas

Total
Cash
$
3,032

$
—

$
—

$
3,032

Accounts receivable*
103,748

2,829

1,272

107,849

Inventories
41,200

—

68

41,268

Oil and natural gas properties
—

—

348,379

348,379

Less accumulated depreciation, depletion and amortization
—


(301,609
)
(301,609
)
Utility plant
1,491,433

—

—

1,491,433

Less accumulated depreciation
(605,924
)
—

—

(605,924
)
Other property, net
41

—

165

206

Other current assets*
29,458

—

—

29,458

Other long-term assets
128,780

—

—

128,780

Total assets held for sale
1,191,768

2,829

48,275

1,242,872

Accounts payable
(48,653
)
(1,732
)
(11
)
(50,396
)
Royalty payable
—

(550
)
(869
)
(1,419
)
Accrued taxes
(28,027
)
—

—

(28,027
)
Notes payable to banks
(50,000
)
—

—

(50,000
)
Other current liabilities*
(105,013
)
(379
)
(21
)
(105,413
)
Other long-term liabilities
(331,409
)
—

(14,983
)
(346,392
)
Long-term debt
(249,923
)
—

—

(249,923
)
Total liabilities held for sale
(813,025
)
(2,661
)
(15,884
)
(831,570
)
Total net assets held for sale
$
378,743

$
168

$
32,391

$
411,302

*At December 31, 2013, Alagasco’s accounts receivable included a consolidating adjustment of $4.7 million to adjust for affiliated companies receivables. Certain other current assets and other current liabilities at Alagasco of $1.6 million and $0.5 million, respectively, were reclassified to continuing operations at Energen.

Years ended December 31, (in thousands, except per share data)
2014
2013
2012
Natural gas distribution revenues
$
397,648

$
533,338

$
451,589

Oil and natural gas revenues
5,199

60,191

76,350

Total revenues
$
402,847

$
593,529

$
527,939

Pretax income from discontinued operations
$
47,220

$
92,253

$
79,197

Income tax expense
17,928

33,174

30,256

Income From Discontinued Operations
$
29,292

$
59,079

$
48,941

Gain on disposal of discontinued operations, net
$
724,594

$
5,605

$
—

Income tax expense
285,497

2,011

—

Gain on Disposal of Discontinued Operations, net
$
439,097

$
3,594

$
—

Total Income From Discontinued Operations
$
468,389

$
62,673

$
48,941

Diluted Earnings Per Average Common Share
 
 
 
Income from discontinued operations
$
0.40

$
0.81

$
0.68

Gain on disposal of discontinued operations, net
5.99

0.05

—

Total Income From Discontinued Operations
$
6.39

$
0.86

$
0.68

Basic Earnings Per Average Common Share
 
 
 
Income from discontinued operations
$
0.40

$
0.82

$
0.68

Gain on disposal of discontinued operations, net
6.02

0.05

—

Total Income From Discontinued Operations
$
6.42

$
0.87

$
0.68