Sales of Properties and Contracts	12 Months Ended
Dec. 31, 2013
Sales of Properties and Contracts
Sales of Properties and Contracts	7. Sales of Properties and Contracts On December 17, 2013, the Company executed the Equitable Gas Transaction. Refer to Note 2 for additional information. On December 31, 2013, the Company sold certain energy marketing contracts to a third party for $20.0 million. These contracts were natural gas sales agreements with approximately 1,000 customers with total volumes of approximately 12 Bcf in 2013. The Company received $18.0 million of cash on December 31, 2013; the remaining $2.0 million is expected to be collected in 2014. In conjunction with this transaction, the Company realized a pre-tax gain of $19.6 million in 2013. Assets acquired as part of the Equitable Gas Transaction included energy marketing contracts with approximately 50 customers valued at $5.0 million. On December 31, 2013, the Company sold these contracts to a third party for $5.0 million, which was received on December 31, 2013. The Company received proceeds of $0.4 million and realized a pre-tax gain of $0.4 million in the year ended December 31, 2013 for the sale of approximately 128 gross acres in Westmoreland County, Pennsylvania. During the years ended December 31, 2012 and 2011, the Company sold leases relating to approximately 2,900 gross acres in Lycoming County, Pennsylvania. The Company received proceeds of $2.7 million and realized a pre-tax gain of $2.0 million in the year ended December 31, 2012. The Company received proceeds of $6.0 million and realized a pre-tax gain of $3.9 million in the year ended December 31, 2011. The gains on these dispositions are recorded in other income in the Statements of Consolidated Income. On February 1, 2011, the Company sold its natural gas processing complex in Langley, Kentucky and the associated natural gas liquids pipeline (Langley) for $230 million. In conjunction with this transaction, the Company realized a pre-tax gain of $22.8 million. On July 1, 2011, the Company sold the Big Sandy Pipeline (Big Sandy) for $390 million. Big Sandy is a natural gas pipeline regulated by the FERC. In conjunction with this transaction, the Company realized a pre-tax gain of $180.1 million.

7. Sales of Properties and Contracts

On December 17, 2013, the Company executed the Equitable Gas Transaction. Refer to Note 2 for additional information.

On December 31, 2013, the Company sold certain energy marketing contracts to a third party for $20.0 million. These contracts were natural gas sales agreements with approximately 1,000 customers with total volumes of approximately 12 Bcf in 2013. The Company received $18.0 million of cash on December 31, 2013; the remaining $2.0 million is expected to be collected in 2014. In conjunction with this transaction, the Company realized a pre-tax gain of $19.6 million in 2013.

Assets acquired as part of the Equitable Gas Transaction included energy marketing contracts with approximately 50 customers valued at $5.0 million. On December 31, 2013, the Company sold these contracts to a third party for $5.0 million, which was received on December 31, 2013.

The Company received proceeds of $0.4 million and realized a pre-tax gain of $0.4 million in the year ended December 31, 2013 for the sale of approximately 128 gross acres in Westmoreland County, Pennsylvania. During the years ended December 31, 2012 and 2011, the Company sold leases relating to approximately 2,900 gross acres in Lycoming County, Pennsylvania. The Company received proceeds of $2.7 million and realized a pre-tax gain of $2.0 million in the year ended December 31, 2012. The Company received proceeds of $6.0 million and realized a pre-tax gain of $3.9 million in the year ended December 31, 2011. The gains on these dispositions are recorded in other income in the Statements of Consolidated Income.

On February 1, 2011, the Company sold its natural gas processing complex in Langley, Kentucky and the associated natural gas liquids pipeline (Langley) for $230 million. In conjunction with this transaction, the Company realized a pre-tax gain of $22.8 million.

On July 1, 2011, the Company sold the Big Sandy Pipeline (Big Sandy) for $390 million. Big Sandy is a natural gas pipeline regulated by the FERC. In conjunction with this transaction, the Company realized a pre-tax gain of $180.1 million.