Discontinued operations (Tables)

6 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal groups, including discontinued operations

The carrying amounts of the major classes of assets and liabilities classified as held for sale, related to the operations of and activity associated with Dakota Prairie Refining, on the Consolidated Balance Sheets were as follows:

	June 30, 2018		June 30, 2017		December 31, 2017
	(In thousands)
Assets
Current assets:
Income taxes receivable (a)	$	1,689	$	5,552	$	1,778
Total current assets held for sale	1,689		5,552		1,778
Total assets held for sale	$	1,689	$	5,552	$	1,778
Liabilities
Noncurrent liabilities:
Deferred income taxes (b)	$	37	$	55	$	37
Total noncurrent liabilities held for sale	37		55		37
Total liabilities held for sale	$	37	$	55	$	37

(a) On the Company's Consolidated Balance Sheets, these amounts were reclassified to taxes payable and are reflected in current liabilities held for sale.

(b) On the Company's Consolidated Balance Sheets, these amounts were reclassified to deferred charges and other assets - deferred income taxes and are reflected in noncurrent assets held for sale.

The carrying amounts of the major classes of assets and liabilities classified as held for sale, related to the operations of Fidelity, on the Consolidated Balance Sheets were as follows:

	June 30, 2018		June 30, 2017		December 31, 2017
	(In thousands)
Assets
Current assets:
Receivables, net	$	572	$	328	$	479
Total current assets held for sale	572		328		479
Noncurrent assets:
Net property, plant and equipment	1,236		2,064		1,631
Deferred income taxes	2,637		74,013		2,637
Other	162		161		161
Total noncurrent assets held for sale	4,035		76,238		4,429
Total assets held for sale	$	4,607	$	76,566	$	4,908
Liabilities
Current liabilities:
Accounts payable	$	—	$	138	$	30
Taxes payable	10,656		7,171		10,857
Other accrued liabilities	2,746		2,724		2,884
Total current liabilities held for sale	13,402		10,033		13,771
Total liabilities held for sale	$	13,402	$	10,033	$	13,771

Reconciliation of major classes of income and expense

The reconciliation of the major classes of income and expense constituting pretax income (loss) from discontinued operations, which includes Dakota Prairie Refining and Fidelity, to the after-tax income (loss) from discontinued operations on the Consolidated Statements of Income was as follows:

	Three Months Ended							Six Months Ended
	June 30,							June 30,
	2018			2017				2018			2017
	(In thousands)
Operating revenues	$	75		$	130			$	140		$	235
Operating expenses	435			1,205				609			(5,372		)
Operating income (loss)	(360		)	(1,075		)		(469		)	5,607
Other income (expense)	—			3				12			(13		)
Interest expense	—			239				575			239
Income (loss) from discontinued operations before income taxes	(360		)	(1,311		)		(1,032		)	5,355
Income taxes	(87		)	1,879			*	(1,235		)	6,859			*
Income (loss) from discontinued operations	$	(273	)	$	(3,190	)		$	203		$	(1,504	)

* Includes the eliminations for the presentation of income tax adjustments between continuing and discontinued operations.

The Company retained certain liabilities of Dakota Prairie Refining. In the first quarter of 2017, the Company recorded a reversal of the previously accrued liability of $7.0 million ($4.3 million after tax) due to the resolution of a legal matter.