Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations [Abstract]

Major Categories of Assets and Liabilities Reflected as Held for Sale

(Thousands of dollars)	2015		2014
Current assets
Cash	$	7,927	200,512
Accounts receivable		12,037	97,568
Inventories		–	42,161
Other		18,376	35,889
Total current assets held for sale	$	38,340	376,130
Non-current assets
Property, plant and equipment, net	$	–	50,947
Other		–	13
Total non-current assets held for sale	$	–	50,960
Current liabilities
Accounts payable	$	2,433	59,023
Other accrued taxes payable		–	40,653
Accrued compensation and severance		2,179	30,872
Refinery decommissioning cost		2,685	21,000
Total current liabilities associated with assets held for sale	$	7,297	151,548
Non-current liabilities
Deferred income taxes payable	$	–	3,873
Deferred credits and other liabilities		–	4,437
Total non-current liabilities associated with assets held for sale	$	–	8,310

Results of Operations Associated with Discontinued Operations

(Thousands of dollars)	2015		2014	2013
Revenues	$	381,747	2,786,394	17,586,236
Income (loss) from operations before income taxes	$	(6,758)	(261,873)	119,984
Gain (loss) on sale before income taxes		(4,990)	101,684	130,991
Total income (loss) from discontinued operations before taxes		(11,748)	(160,189)	250,975
Income tax expense (benefit)		3,313	(40,827)	15,639
Income (loss) from discontinued operations	$	(15,061)	(119,362)	235,336