Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The carrying amounts of the major classes of assets and liabilities of discontinued operations included in the Company’s Consolidated Balance Sheet at December 31, 2022 were as follows:

	December 31, 2022
Assets	(In Thousands)
Current assets:
Cash and cash equivalents	$	10,090
Receivables, net	241,302
Inventories	323,277
Prepayments and other current assets	17,848
Total current assets of discontinued operations	592,517
Noncurrent assets:
Net property, plant and equipment	1,315,213
Goodwill	274,540
Other intangible assets, net	13,430
Investments	33,086
Operating lease right-of-use assets	45,872
Other	3,610
Total noncurrent assets of discontinued operations	1,685,751
Total assets of discontinued operations	$	2,278,268
Liabilities
Current liabilities:
Short-term borrowings	$	208,000
Long-term debt due within one year	30,211
Accounts payable	131,608
Taxes payable	8,502
Accrued compensation	29,192
Operating lease liabilities due within one year	13,210
Other accrued liabilities	76,200
Total current liabilities of discontinued operations	496,923
Noncurrent liabilities:
Long-term debt	445,546
Deferred income taxes	175,804
Asset retirement obligations	33,015
Operating lease liabilities	32,663
Other	78,876
Total noncurrent liabilities of discontinued operations	765,904
Total liabilities of discontinued operations	$	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:

	2023		2022		2021
	(In thousands)
Operating revenues	$	735,263	$	2,532,280	$	2,226,478
Operating expenses	769,440		2,328,051		2,022,976
Operating (loss) income	(34,177)		204,229		203,502
Other income (expense)	2,381		(3,849)		693
Interest expense	37,545		38,575		23,117
(Loss) income from discontinued operations before income taxes	(69,341)		161,805		181,078
Income taxes	(3,623)		45,084		45,469
Discontinued operations, net of tax	$	(65,718)	$	116,721	$	135,609