Discontinued Operations and Disposal Groups (Tables)

9 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of discontinued operations, including balance sheet and income statement

The carrying amounts of the major classes of assets and liabilities of discontinued operations included in the Company’s Consolidated Balance Sheets were as follows:

	September 30, 2022		December 31, 2022
Assets	(In Thousands)
Current assets:
Cash and cash equivalents	$	16,761	$	10,090
Receivables, net	447,882		241,302
Inventories	308,829		323,277
Prepayments and other current assets	16,949		17,848
Total current assets of discontinued operations	790,421		592,517
Noncurrent assets:
Net property, plant and equipment	1,275,649		1,315,213
Goodwill	274,302		274,540
Other intangible assets, net	14,097		13,430
Investments	32,326		33,086
Operating lease right-of-use assets	43,431		45,872
Other	3,233		3,610
Total noncurrent assets of discontinued operations	1,643,038		1,685,751
Total assets of discontinued operations	$	2,433,459	$	2,278,268
Liabilities
Current liabilities:
Short-term borrowings	$	100,000	$	208,000
Long-term debt due within one year	128,133		30,211
Accounts payable	178,320		131,608
Taxes payable	12,874		8,502
Accrued compensation	27,383		29,192
Operating lease liabilities due within one year	13,000		13,210
Other accrued liabilities	73,852		76,200
Total current liabilities of discontinued operations	533,562		496,923
Noncurrent liabilities:
Long-term debt	581,588		445,546
Deferred income taxes	175,529		175,804
Asset retirement obligations	27,964		33,015
Operating lease liabilities	30,431		32,663
Other	87,159		78,876
Total noncurrent liabilities of discontinued operations	902,671		765,904
Total liabilities of discontinued operations	$	1,436,233	$	1,262,827

The reconciliation of the major classes of income and expense constituting pretax income (loss) from discontinued operations to the after-tax income (loss) from discontinued operations on the Consolidated Statements of Income were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands)
Operating revenues	$	—	$	974,774	$	735,259	$	1,995,500
Operating expenses	1,447		825,874		769,407		1,828,602
Operating income (loss)	(1,447)		148,900		(34,148)		166,898
Other income (expense)	—		(1,005)		2,382		(4,399)
Interest expense	(66)		11,173		37,545		26,466
Income (loss) from discontinued operations before income taxes	(1,381)		136,722		(69,311)		136,033
Income taxes	1,908		31,120		(3,559)		32,529
Discontinued operations, net of tax	$	(3,289)	$	105,602	$	(65,752)	$	103,504