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Valuation Accounts and Reserves
 12 Months Ended
Dec. 31, 2015
Valuation Accounts and Reserves [Abstract]  
Valuation Accounts and Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Millions of dollars)

Balance at
January 1

 

Charged
(Credited)
to Expense

 

Deductions

 

Other*

 

Balance at
December 31

2015

 

 

 

 

 

 

 

 

 

 

Deducted from asset accounts:

 

 

 

 

 

 

 

 

 

 

        Allowance for doubtful accounts

$

 1.6 

 

– 

 

– 

 

– 

 

 1.6 

        Deferred tax asset valuation allowance

 

 306.5 

 

 40.8 

 

– 

 

 (52.9)

 

 294.4 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

 

 

 

 

 

 

 

 

Deducted from asset accounts:

 

 

 

 

 

 

 

 

 

 

        Allowance for doubtful accounts

$

 1.6 

 

– 

 

– 

 

– 

 

 1.6 

        Deferred tax asset valuation allowance

 

 633.7 

 

 37.7 

 

– 

 

 (364.9)

 

 306.5 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

 

 

Deducted from asset accounts:

 

 

 

 

 

 

 

 

 

 

        Allowance for doubtful accounts

$

 6.7 

 

 0.4 

 

 (0.4)

 

 (5.1)

 

 1.6 

        Deferred tax asset valuation allowance

 

 524.0 

 

 115.4 

 

– 

 

 (5.7)

 

 633.7 

 

*Amount in 2015 for deferred tax asset valuation allowance is primarily associated with utilization of foreign tax credit carry forwards.  Amount in 2014 for deferred tax asset valuation allowance is primarily associated with final abandonment of certain foreign investments in 2014, essentially offsetting changes in deferred tax assets.  Amounts in 2013 primarily arose due to separation of Murphy USA Inc. and presentation of U.K. downstream operations as assets held for sale.