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Discontinued Operations and Assets Held for Sale | 3 Months Ended
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Mar. 31, 2018
Discontinued Operations and Assets Held for Sale [Abstract] |
Discontinued Operations and Assets Held for Sale | Note E – Discontinued Operations and Assets Held for Sale The Company has accounted for its former U.K. and U.S. refining and marketing operations as discontinued operations for all periods presented. The results of operations associated with discontinued operations for the three-month periods ended March 31, 2018 and 2017 were as follows: ﻿
﻿ |  |  |  |  |
﻿ | Three Months |
﻿ | Ended March 31, |
﻿(Thousands of dollars) |  | 2018 |  | 2017 |
﻿Revenues | $ | – |  | 129 |
﻿Income (loss) before income taxes |  | (437) |  | 969 |
﻿Income tax benefit |  | – |  | – |
﻿Income (loss) from discontinued operations | $ | (437) |  | 969 |
The following table presents the carrying value of the major categories of assets and liabilities of U.K. refining and marketing operations reflected as held for sale on the Company’s Consolidated Balance Sheets at March 31, 2018 and December 31, 2017.
﻿ |  |  |  |
﻿ |  |  |  |
﻿ |  | March 31, |  | December 31,
﻿(Thousands of dollars) |  | 2018 |  | 2017
﻿Current assets |  |  |  |
﻿Cash | $ | 16,380 |  | 16,631
﻿Accounts receivable |  | 6,316 |  | 6,298
﻿Total current assets held for sale | $ | 22,696 |  | 22,929
﻿Current liabilities |  |  |  |
﻿Accounts payable | $ | 467 |  | 837
﻿Refinery decommissioning cost |  | 2,693 |  | 2,693
﻿Total current liabilities associated with assets held for sale | $ | 3,160 |  | 3,530
﻿

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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