Assets Held for Sale and Discontinued Operations

6 Months Ended

Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,			Six Months Ended June 30,
(Thousands of dollars)	2022		2021	2022		2021
Revenues	$	—	246	$	10	658
Costs and expenses
Other costs and expenses (benefits)	943		348	1,504		552
(Loss) income before taxes	(943)		(102)	(1,494)		106
Income tax expense	—		—	—		—
(Loss) income from discontinued operations	$	(943)	(102)	$	(1,494)	106

As of June 30, 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 the CA-2 project in Brunei and the Company’s former headquarters office building in El Dorado, Arkansas.

(Thousands of dollars)	June 30, 2022		December 31, 2021
Current assets
Property, plant, and equipment, net	15,561		15,453
Total current assets associated with assets held for sale	$	15,561	15,453