Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations [Abstract]

Major Categories of Assets and Liabilities Reflected as Held for Sale

(Millions of dollars)	2014		2013
Current assets
Cash	$	200,512		301,302
Accounts receivable		97,568		302,059
Inventory		42,161		254,240
Other		35,889		86,131
Total current assets held for sale	$	376,130		943,732
Non-current assets
Property, plant and equipment, net	$	50,947		360,347
Other		13		21,057
Total non-current assets held for sale	$	50,960		381,404
Current liabilities
Accounts payable	$	59,023		484,082
Other accrued taxes payable		40,653		130,028
Accrued compensation and severance		30,872		17,020
Refinery decommissioning cost		21,000		–
Other		–		8,010
Total current liabilities associated with             assets held for sale	$	151,548		639,140
Non-current liabilities
Deferred income taxes payable	$	3,873		68,096
Deferred credits and other liabilities		4,437		27,448
Total non-current liabilities associated             with assets held for sale	$	8,310		95,544

Results of Operations Associated with Discontinued Operations

(Thousands of dollars)	2014		2013	2012
Revenues	$	2,786,394	17,586,236	24,156,748
Income (loss) from operations before income taxes	$	(261,873)	119,984	330,048
Gain on sale before income taxes		101,684	130,991	–
Total income (loss) from discontinued operations before taxes		(160,189)	250,975	330,048
Income tax expense (benefit)		(40,827)	15,639	165,666
Income (loss) from discontinued operations	$	(119,362)	235,336	164,382