Discontinued Operations

3 Months Ended

Mar. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

Note D – Discontinued Operations

The Company sold certain oil and gas assets in the United Kingdom during the three months ended March 31, 2013. The after-tax gain on sale of the two assets was $147.4 million in the three months ended March 31, 2013. One remaining oil and gas producing asset is expected to be sold in the second quarter 2013. The Company has accounted for these U.K. upstream operations as discontinued operations in its consolidated financial statements for all periods presented.

The results of operations associated with these discontinued operations for the three-month periods ended March 31, 2013 and 2012 were as follows:

(Thousands of dollars)	2013			2012
Revenues	$	166,522			37,583
Income before income taxes, including gain on disposal of $74,928 during 2013		89,521			22,973
Income tax expense (benefit)		(63,108	)		14,340