Discontinued Operations and Held for Sale Properties (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table details San Juan Basin held for sale properties by major classes of assets and liabilities. Property sales in the San Juan Basin do not qualify for discontinued operations:

(in thousands)	December 31, 2015			December 31, 2014
Inventories	$	3,651		$	—
Oil and natural gas properties	305,386			1,166,124
Less accumulated depreciation, depletion and amortization	(219,059		)	(770,327		)
Other property and equipment, net	3,761			—
Total assets held for sale	93,739			395,797
Other long-term liabilities	(12,789		)	(24,230		)
Total liabilities held for sale	(12,789		)	(24,230		)
Total net assets held for sale	$	80,950		$	371,567

We classified as discontinued operations interest on debt required to be extinguished, certain depreciation costs that ended at close of transaction, the related income tax impact of these items and the earnings of Alagasco. In addition, we reclassified from discontinued operations certain general and administrative expenses, other income and the related tax impact from these items. The table below provides a detail of these items included in income (loss) from discontinued operations as follows:

Years ended December 31, (in thousands)	2014			2013
Alagasco net income	$	40,646		$	57,399
Depreciation, depletion and amortization	(408		)	(598		)
General and administrative	3,337			5,894
Interest expense	(17,306		)	(13,815		)
Other income	(347		)	(1,342		)
Income tax expense	5,567			3,728
Alagasco income from discontinued operations	31,489			51,266
Energen income (loss) from discontinued operations	(2,197		)	7,813
Income from discontinued operations	$	29,292		$	59,079

Years ended December 31, (in thousands, except per share data)	2014		2013
Natural gas distribution revenues	$	397,648	$	533,338
Oil and natural gas revenues	5,199		60,191
Total revenues	$	402,847	$	593,529
Pretax income from discontinued operations	$	47,220	$	92,253
Income tax expense	17,928		33,174
Income From Discontinued Operations	$	29,292	$	59,079
Gain on disposal of discontinued operations, net	$	724,594	$	5,605
Income tax expense	285,497		2,011
Gain on Disposal of Discontinued Operations, net	$	439,097	$	3,594
Total Income From Discontinued Operations	$	468,389	$	62,673
Diluted Earnings Per Average Common Share
Income from discontinued operations	$	0.40	$	0.81
Gain on disposal of discontinued operations, net	5.99		0.05
Total Income From Discontinued Operations	$	6.39	$	0.86
Basic Earnings Per Average Common Share
Income from discontinued operations	$	0.40	$	0.82
Gain on disposal of discontinued operations, net	6.02		0.05
Total Income From Discontinued Operations	$	6.42	$	0.87