Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

he table below provides a detail of these items included in income (loss) from discontinued operations at June 30, 2014:

	Three months ended June 30,						Six months ended June 30,
(in thousands)	2014			2013			2014			2013
Alagasco net income (loss)	$	(615	)	$	(704	)	$	42,413		$	46,518
Depreciation, depletion and amortization	(153		)	(147		)	(305		)	(294		)
General and administrative	687			1,724			1,627			3,578
Interest expense	(7,190		)	(3,288		)	(12,977		)	(6,109		)
Other income	(228		)	(64		)	(347		)	(473		)
Income tax expense (benefit)	2,603			671			4,538			1,247
Alagasco income (loss) from discontinued operations	(4,896		)	(1,808		)	34,949			44,467
Energen income (loss) from discontinued operations	97			2,453			(1,029		)	4,451
Income (loss) from discontinued operations	$	(4,799	)	$	645		$	33,920		$	48,918

	Three months ended					Six months ended
	June 30,					June 30,
(in thousands, except per share data)	2014			2013		2014			2013
Natural gas distribution revenues	$	93,873		$	104,514	$	357,774		$	342,199
Oil and natural gas revenues	390			18,562		5,211			37,225
Total revenues	$	94,263		$	123,076	$	362,985		$	379,424
Pretax income (loss) from discontinued operations	$	(7,797	)	$	967	$	54,519		$	78,775
Income tax expense (benefit)	(2,998		)	322		20,599			29,857
Income (Loss) From Discontinued Operations	$	(4,799	)	$	645	$	33,920		$	48,918
Loss on disposal of discontinued operations	$	—		$	—	$	(1,667	)	$	—
Income tax benefit	—			—		(617		)	—
Loss on Disposal of Discontinued Operations	$	—		$	—	$	(1,050	)	$	—
Total Income (Loss) From Discontinued Operations	$	(4,799	)	$	645	$	32,870		$	48,918
Diluted Earnings Per Average Common Share
Income (Loss) from Discontinued Operations	$	(0.07	)	$	0.01	$	0.46		$	0.67
Loss on Disposal of Discontinued Operations	—			—		(0.01		)	—
Total Income (Loss) From Discontinued Operations	$	(0.07	)	$	0.01	$	0.45		$	0.67
Basic Earnings Per Average Common Share
Income (Loss) from Discontinued Operations	$	(0.07	)	$	0.01	$	0.46		$	0.68
Loss on Disposal of Discontinued Operations	—			—		(0.01		)	—
Total Income (Loss) From Discontinued Operations	$	(0.07	)	$	0.01	$	0.45		$	0.68

The following tables detail held for sale properties by major classes of assets and liabilities:

(in thousands)				June 30, 2014
	Alabama Gas Corporation			Black Warrior Basin			North Louisiana/East Texas			Total
Cash	$	11,807		$	—		$	—		$	11,807
Accounts receivable*	50,285			—			—			50,285
Inventories	39,950			—			—			39,950
Utility plant	1,517,534			—			—			1,517,534
Less accumulated depreciation	(624,704		)	—			—			(624,704		)
Other property, net	40			—			—			40
Other current assets*	16,462			—			—			16,462
Other long-term assets	142,672			—			—			142,672
Total assets held for sale	1,154,046			—			—			1,154,046
Accounts payable	(38,646		)	(2,172		)	(1,856		)	(42,674		)
Royalty payable	—			—			(1,284		)	(1,284		)
Accrued taxes*	(29,337		)	—			—			(29,337		)
Long-term debt due within one year	(50,000		)	—			—			(50,000		)
Other current liabilities	(108,633		)	—			(2		)	(108,635		)
Other long-term liabilities	(335,369		)	—			(2		)	(335,371		)
Long-term debt	(199,830		)	—			—			(199,830		)
Total liabilities held for sale	(761,815		)	(2,172		)	(3,144		)	(767,131		)
Total net assets held for sale	$	392,231		$	(2,172	)	$	(3,144	)	$	386,915

(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