XML 56 R56.htm IDEA: XBRL DOCUMENT v2.4.0.6
SHAREHOLDERS' EQUITY (Lone Pine Initial Public Offering and Spin-off) (Details) (USD $)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Sep. 30, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Jun. 01, 2011
Initial Public Offering and Spin-off - Lone Pine Resources Inc.                  
Percentage of subsidiary common stock sold in initial public offering (as a percent)                 18.00%
Dividend tax payable to Canadian federal tax authorities     $ 28,900,000            
Partial consideration for Forest's contribution of Forest's direct and indirect interest in its Canadian operations     29,200,000            
Outstanding indebtedness owed to Forest     400,500,000            
Percentage of subsidiary stock distributed to shareholders in spin-off (as a percent)   82.00%     82.00%        
Common stock conversion ratio   0.61248511     0.61248511        
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Net                  
Net earnings attributable to Forest Oil Corporation common shareholders 19,467,000 [1],[2] 82,795,000 [1],[2] 38,910,000 [1],[2] (3,330,000) [1],[2] 118,375,000 (1,288,931,000) 137,842,000 227,521,000  
Transfers from (to) the noncontrolling interest:                  
Increase in Forest Oil Corporation’s capital surplus for sale of 15 million Lone Pine Resources Inc. common shares     178,175,000   112,610,000   178,175,000    
Decrease in Forest Oil Corporation’s capital surplus for spin-off of 70 million Lone Pine Resources Inc. common shares         (333,568,000)   (469,935,000)    
Change from net earnings attributable to Forest Oil Corporation common shareholders and transfers from (to) noncontrolling interest         $ (102,583,000)        
Number of shares of common stock sold in IPO resulting in a change in capital surplus of parent (in shares)         15,000,000        
Common shares spun off resulting in a change in capital surplus of parent (in shares)         70,000,000        
[1] Upon completion of Lone Pine’s initial public offering on June 1, 2011, Forest maintained a controlling interest in Lone Pine until it was spun-off on September 30, 2011. As such, during the second and third quarters of 2011, Forest had net earnings attributable to the noncontrolling interest.
[2] Earnings (loss) before income taxes, net earnings (loss), and net earnings (loss) attributable to Forest Oil Corporation common shareholders have been impacted by non-cash ceiling test write-downs in every quarter of 2012 as discussed in Note 1 and are also subject to large fluctuations due to Forest’s election not to use cash flow hedge accounting for derivative instruments as discussed in Note 9.