Assets and Liabilities Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale and Discontinued Operations

The following table summarizes the major classes of assets and liabilities classified as held for sale at March 31, 2019 (in thousands):

Current Assets Held for Sale
Accounts receivable-trade, net	$	164,716
Inventories	327,015
Prepaid expenses and other current assets	89,254
Total current assets held for sale	580,985
Noncurrent Assets Held for Sale
Property, plant and equipment, net	15,553
Goodwill	35,405
Intangible assets, net	137,446
Other noncurrent assets	46,147
Total noncurrent assets held for sale	234,551
Total assets held for sale	$	815,536
Current Liabilities Held for Sale
Accounts payable-trade	$	85,602
Accrued expenses and other payables	140,691
Advance payments received from customers	460
Total current liabilities held for sale	226,753
Noncurrent Liabilities Held for Sale
Other noncurrent liabilities	33
Total noncurrent liabilities held for sale	33
Total liabilities held for sale	$	226,786

The following table summarizes the results of operations from discontinued operations for the periods indicated:

	Year Ended March 31,
	2020			2019			2018
	(in thousands)
Revenues	$	12,186,862		$	15,398,608		$	10,474,860
Cost of sales	12,193,307			15,338,614			10,418,447
Operating expenses	6,997			37,348			137,780
General and administrative expense	56			2,716			11,471
Depreciation and amortization	749			9,593			44,314
Loss (gain) on disposal or impairment of assets, net (1)	203,990			(407,608		)	(88,194		)
Operating (loss) income from discontinued operations	(218,237		)	417,945			(48,958		)
Equity in earnings of unconsolidated entities	—			1,183			425
Interest expense	(111		)	(126		)	(421		)
Other income, net	133			837			1,930
(Loss) income from discontinued operations before taxes (2)	(218,215		)	419,839			(47,024		)
Income tax expense	(20		)	(989		)	(104		)
(Loss) income from discontinued operations, net of tax	$	(218,235	)	$	418,850		$	(47,128	)

(1) Amount for the year ended March 31, 2020 includes a loss of $182.1 million on the sale of TPSL, a loss of $6.3 million on the sale of Mid-Con, a loss of $14.5 million on the sale of Gas Blending and a loss of $1.0 million on the sale of virtually all of our remaining Retail Propane segment to Superior on July 10, 2018. Amount for the year ended March 31, 2019 includes a gain of $408.9 million on the sale of virtually all of our remaining Retail Propane segment to Superior on July 10, 2018, partially offset by a loss of $1.3 million on the sale of a portion of our Retail Propane segment to DCC on March 30, 2018 related to a working capital adjustment. Amount for the year ended March 31, 2018 includes a gain of $89.3 million on the sale of a portion of our Retail Propane segment to DCC, partially offset by the sale of other assets prior to the sale to DCC.

(2) Amounts include income (loss) attributable to redeemable noncontrolling interests. Loss attributable to redeemable noncontrolling interests was $0.4 million for the year ended March 31, 2019 and income attributable to redeemable noncontrolling interest was $1.0 million for the year ended March 31, 2018.