Discontinued Operations And Assets And Liabilities Held For Sale

6 Months Ended

Jun. 30, 2013

Discontinued Operations And Assets And Liabilities Held For Sale [Abstract]

Discontinued Operations And Assets And Liabilities Held For Sale

Discontinued Operations and Assets and Liabilities Held for Sale

During 2012, NiSource began marketing to sell the service plan and leasing business lines of its Retail Services business. As of December 31, 2012, the assets and liabilities of the business lines met the criteria to be classified as held for sale in accordance with GAAP. Additionally, the results of operations and cash flows were classified as discontinued operations. The sale of the business lines closed in January 2013 resulting in gain from the disposal of discontinued operations of $36.4 million, net of taxes, which was recorded during the first quarter of 2013.

There were no assets and liabilities of discontinued operations and held for sale on the Condensed Consolidated Balance Sheet (unaudited) at June 30, 2013.

The assets and liabilities of discontinued operations and held for sale on the Consolidated Balance Sheet at December 31, 2012 by segment were:

(in millions)
Assets of discontinued operations and held for sale:	Property, plant and equipment, net		Other Assets		Total
Gas Distribution Operations	$	21.5	$	4.5	$	26.0
Electric Operations	—		0.7		0.7
Total	$	21.5	$	5.2	$	26.7
Liabilities of discontinued operations and held for sale:			Other Liabilities		Total
Gas Distribution Operations			$	3.3	$	3.3
Electric Operations			0.6		0.6
Total			$	3.9	$	3.9

Total assets and liabilities of discontinued operations and held for sale in the table above relate to the service plan and leasing lines of business of NiSource's Retail Services business.

Results from discontinued operations are provided in the following table. These results are primarily from NiSource's Retail Services business, a settlement at NiSource's former exploration and production subsidiary, CER, and Columbia Propane. For additional information regarding the settlement refer to Note 17-B, “Other Legal Proceedings,” in the Notes to Condensed Consolidated Financial Statements (unaudited).

	Three Months Ended June 30,					Six Months Ended June 30,
(in millions)	2013			2012		2013		2012
Revenues from Discontinued Operations	$	—		$	9.8	$	—	$	20.3
(Loss) Income from discontinued operations	(0.7		)	1.9		13.4		4.1
Income tax (benefit) expense	(0.3		)	0.8		5.1		1.7
(Loss) Income from Discontinued Operations - net of taxes	$	(0.4	)	$	1.1	$	8.3	$	2.4
Gain on Disposition of Discontinued Operations - net of taxes	$	—		$	—	$	36.4	$	—