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Assets Held for Sale and Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Major Categories of Assets and Liabilities Reflected as Held for Sale | The following table presents the carrying value of the major categories of assets and liabilities that are reflected as held for sale on the Company’s Consolidated Balance Sheets at December 31, 2020. These include the King’s Quay Floating Production System (FPS) of $250.1 million, the Brunei exploration and production properties, and the Company’s office building in El Dorado, Arkansas. As of December 31, 2019 the balance represents assets and liabilities of the Brunei exploration and production properties and the U.K. refining and marketing operations.
(Thousands of dollars) | 2020 |  | 2019
Current assets |  |  |
Cash | $ | 10,185 |  |  | 25,185 |
Accounts receivable | — |  |  | 4,834 |
Inventories | 406 |  |  | 406 |
Prepaid expenses and other | — |  |  | 1,882 |
Property, plant, and equipment, net | 307,704 |  |  | 82,116 |
Deferred income taxes and other assets | 9,441 |  |  | 9,441 |
Total current assets associated with assets held for sale | 327,736 |  |  | 123,864 |
Current liabilities |  |  |
Accounts payable | 5,306 |  |  | 3,702 |
Other accrued liabilities | 45 |  |  | — |
Current maturities of long-term debt (finance lease) | 737 |  |  | 705 |
Taxes payable | 1,510 |  |  | 1,411 |
Asset retirement obligation | 261 |  |  | 240 |
Long-term debt (finance lease) | 6,513 |  |  | 7,240 |
Total current liabilities associated with assets held for sale | 14,372 |  |  | 13,298 |
Results of Operations Associated with Discontinued Operations | The results of operations associated with discontinued operations are presented in the following table.
(Thousands of dollars) | 2020 |  | 2019 |  | 2018
Revenues 1 | $ | 4,090 |  |  | 1,364,943 |  |  | 854,251 |
Costs and expenses |  |  |  |  |
Lease operating expense | — |  |  | 127,138 |  |  | 202,062 |
Depreciation, depletion and amortization | — |  |  | 33,697 |  |  | 196,287 |
Other costs and expenses (benefits) | 11,241 |  |  | 81,538 |  |  | 70,088 |
Total income from discontinued operations before taxes | (7,151) |  |  | 1,122,570 |  |  | 385,814 |
Income tax expense | — |  |  | 58,083 |  |  | 135,466 |
Income from discontinued operations | $ | (7,151) |  |  | 1,064,487 |  |  | 250,348 |
1 2019 includes a $985.4 million gain on sale of the Malaysia operations.

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