Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Revenue and Income from Discontinued Operations Associated with Independence

The following table reconciles the carrying amounts of the major classes of assets and liabilities to the Company’s discontinued operations as presented on its Consolidated Balance Sheet.

	December 31,
	2014		2013
Current Assets:
Cash and cash equivalents	$	257,358	$	406,184
Accounts receivable, net		1,002,918		971,308
Unbilled gas		735,122		557,498
Inventory		181,197		748,482
Prepayments and other		71,101		99,219
Regulatory assets, current		250,031		88,318
Total current assets		2,497,727		2,871,009
Non-Current Assets:
Property, plant & equipment, net		8,966,965		8,960,986
Regulatory assets, non-current		155,826		155,826
Other assets		33,416		44,382
Total non-current assets		9,156,207		9,161,194
Total discontinued assets	$	11,653,934	$	12,032,203
Current Liabilities:
Checks in excess of amounts on deposit	$	-	$	1,192
Accounts payable		29,657		62,131
Accrued liabilities		334,664		429,961
Other current liabilities		139,318		52,200
Total current liabilities		503,639		545,484
Non-Current Liabilities:
Customer advances for construction		40,793		29,405
Total discontinued liabilities	$	544,432	$	574,889

The following table reconciles the carrying amounts of the major line items constituting the pretax profit of discontinued operations to the after-tax profit or loss of discontinued operations that are presented on the Consolidated Statement of Comprehensive Income.

	Year Ended December 31,
	2014		2013		2012
Revenues	$	10,927,150	$	13,130,554	$	12,422,318
Cost of sales		(6,696,602)		(7,855,827)		(7,279,787)
Distribution, general & administrative		(1,559,021)		(2,643,821)		(2,666,911)
Maintenance		(175,509)		(239,321)		(263,559)
Depreciation & amortization		(541,777)		(925,389)		(989,535)
Taxes other than income		(326,214)		(395,145)		(363,802)
Other income (expense)		23,597		5,098		89,048
Interest expense		(1,603)		(25,268)		(23,615)
Pretax income from discontinued operations		1,650,021		1,050,881		924,157
Loss on sale of discountinued operations		-		(7,915)		-
Total pretax income from discontinued operations		1,650,021		1,042,966		924,157
Income tax expense		(617,410)		(223,828)		(400,328)
Income from discontinued operations	$	1,032,611	$	819,138	$	523,829