Assets Held for Sale and Discontinued Operations

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Note E – Assets Held for Sale and Discontinued Operations

The Company has accounted for its former U.K. and U.S. refining and marketing and Malaysian exploration and production operations as discontinued operations for all periods presented.  The results of operations associated with discontinued operations for the three-month periods ended March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31,
(Thousands of dollars)	2022		2021
Revenues	$	10	44
Costs and expenses
Other costs and expenses (benefits)	561		(164)
(Loss) income before taxes	(551)		208
Income tax expense	—		—
(Loss) income from discontinued operations	$	(551)	208

As of March 31, 2022 and December 31, 2021, assets held for sale on the Consolidated Balance Sheet include the carrying value of the net property, plant and equipment of CA-2 project in Brunei and the Company’s former headquarters office building in El Dorado, Arkansas.

(Thousands of dollars)	March 31, 2022		December 31, 2021
Current assets
Property, plant, and equipment, net	15,701		15,453
Total current assets associated with assets held for sale	$	15,701	15,453