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Organization and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Derivative Instruments, Gain (Loss)
We further reclassified all commodity hedges from oil and natural gas operating revenues to gain (loss) on derivative instruments, net, as follows:

 
Three months ended
Nine months ended
 
September 30,
September 30,
(in thousands)
2014
2013
2014
2013
Open non-cash mark-to-market gains (losses) on derivative instruments
$
147,287

$
(63,560
)
$
53,985

$
(48,459
)
Closed gains (losses) on derivative instruments
448

(24,632
)
(44,487
)
(3,445
)
Gain (loss) on derivative instruments, net
$
147,735

$
(88,192
)
$
9,498

$
(51,904
)
Schedule of Discontinued Operations
The table below provides a detail of these items included in income (loss) from discontinued operations at September 30, 2014:



Three months ended
September 30,
Nine months ended
September 30,
(in thousands)
2014
2013
2014
2013
Alagasco net income (loss)
$
(1,767
)
$
(8,961
)
$
40,646

$
37,557

Depreciation, depletion and amortization
(103
)
(150
)
(408
)
(443
)
General and administrative
1,710

1,158

3,337

4,784

Interest expense
(4,329
)
(3,676
)
(17,306
)
(9,786
)
Other income
—

(409
)
(347
)
(882
)
Income tax expense
1,029

1,145

5,567

2,392

Alagasco income (loss) from discontinued operations
(3,460
)
(10,893
)
31,489

33,622

Energen income (loss) from discontinued operations
(25
)
1,866

(1,054
)
6,269

Income (loss) from discontinued operations
$
(3,485
)
$
(9,027
)
$
30,435

$
39,891

The following table details held for sale properties by major classes of assets and liabilities:

(in thousands)
December 31, 2013
 
Alabama Gas Corporation
Black Warrior Basin
North Louisiana/East Texas

Total
Cash
$
3,032

$
—

$
—

$
3,032

Accounts receivable*
103,748

2,829

1,272

107,849

Inventories
41,200

—

68

41,268

Oil and gas properties
—

—

348,379

348,379

Less accumulated depreciation, depletion and amortization
—


(301,609
)
(301,609
)
Utility plant
1,491,433

—

—

1,491,433

Less accumulated depreciation
(605,924
)
—

—

(605,924
)
Other property, net
41

—

165

206

Other current assets*
29,458

—

—

29,458

Other long-term assets
128,780

—

—

128,780

Total assets held for sale
1,191,768

2,829

48,275

1,242,872

Accounts payable
(48,653
)
(1,732
)
(11
)
(50,396
)
Royalty payable
—

(550
)
(869
)
(1,419
)
Accrued taxes
(28,027
)
—

—

(28,027
)
Notes payable to banks
(50,000
)
—

—

(50,000
)
Other current liabilities*
(105,013
)
(379
)
(21
)
(105,413
)
Other long-term liabilities
(331,409
)
—

(14,983
)
(346,392
)
Long-term debt
(249,923
)
—

—

(249,923
)
Total liabilities held for sale
(813,025
)
(2,661
)
(15,884
)
(831,570
)
Total net assets held for sale
$
378,743

$
168

$
32,391

$
411,302

*At December 31, 2013, Alagasco’s accounts receivable included a consolidating adjustment of $4.7 million to adjust for affiliated companies receivables. Certain other current assets and other current liabilities at Alagasco of $1.6 million and $0.5 million, respectively, were reclassified to continuing operations at Energen.
 
Three months ended
Nine months ended
 
September 30,
September 30,
(in thousands, except per share data)
2014
2013
2014
2013
Natural gas distribution revenues
$
39,874

$
48,368

$
397,648

$
390,567

Oil and natural gas revenues
6

18,258

5,217

55,483

Total revenues
$
39,880

$
66,626

$
402,865

$
446,050

Pretax income (loss) from discontinued operations
$
(5,938
)
$
(14,677
)
$
48,581

$
64,098

Income tax expense (benefit)
(2,453
)
(5,650
)
18,146

24,207

Income (Loss) From Discontinued Operations
$
(3,485
)
$
(9,027
)
$
30,435

$
39,891

Gain (loss) on disposal of discontinued operations
$
726,410

$
(24,612
)
$
724,743

$
(24,612
)
Income tax expense (benefit)
286,305

(8,934
)
285,688

(8,934
)
Gain (Loss) on Disposal of Discontinued Operations
$
440,105

$
(15,678
)
$
439,055

$
(15,678
)
Total Income (Loss) From Discontinued Operations
$
436,620

$
(24,705
)
$
469,490

$
24,213

Diluted Earnings Per Average Common Share
 
 
 
 
Income (loss) from discontinued operations
$
(0.05
)
$
(0.12
)
$
0.42

$
0.55

Gain (loss) on disposal of discontinued operations
5.99

(0.22
)
5.99

(0.21
)
Total Income (Loss) From Discontinued Operations
$
5.94

$
(0.34
)
$
6.41

$
0.34

Basic Earnings Per Average Common Share
 
 
 
 
Income (loss) from discontinued operations
$
(0.05
)
$
(0.12
)
$
0.42

$
0.55

Gain (loss) on disposal of discontinued operations
6.03

(0.22
)
6.03

(0.21
)
Total Income (Loss) From Discontinued Operations
$
5.98

$
(0.34
)
$
6.45

$
0.34