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Assets Held-for-Sale and Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2013
Assets Held-for-Sale and Discontinued Operations |
Assets held-for-sale |
|  | June 30, |  | December 31, |
Assets Held-for-Sale |  | 2013 |  | 2012 |
|  | (In thousands) |
Oil and Gas (1) |  | $ | 351,263 | (2) | $ | 377,625 |
Rig Services |  | — | (3) | 6,232 |
|  | $ | 351,263 |  | $ | 383,857 |
(1) Oil and Gas represents a former operating segment of the Company. We began marketing efforts during 2010 to sell our oil and gas investments. As of December 2012, all remaining assets relating to oil and gas are classified as held-for-sale. (2) During the six months ended June 30, 2013, the carrying value of these assets was adjusted by $34.4 million to reflect the sales price or current fair value. In July 2013, we sold some of our gas and oil assets and received initial proceeds of $90 million, subject to customary post-closing adjustments. (3) On April 1, 2013, we sold our business that provides logistics services for onshore drilling using helicopter and fixed-wing aircraft for a price of $9.3 million.
Condensed statements of income (loss) from discontinued operations |
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
|  | (In thousands) |
Operating revenues and Earnings (losses) from unconsolidated affiliates |  |  |  |  |  |  |  |  |
Oil and Gas |  | $ | 12,050 |  | $ | 2,919 |  | $ | 22,039 |  | $ | 6,220 |
Rig Services |  | $ | 934 |  | $ | 5,554 |  | $ | 4,971 |  | $ | 10,416 |
Income (loss) from Oil and Gas discontinued operations: |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations |  | $ | (4,742 | ) | $ | (2,791 | ) | $ | (2,672 | ) | $ | (8,279 | )
Impairment charges or other gains and losses on sale of wholly owned assets |  | (40,193 | )(1) | 41,597 |  | (42,193 | )(1) | 36,468 |
Less: income tax expense (benefit) |  | (10,715 | ) | 7,042 |  | (10,692 | ) | 4,227 |
Income (loss) from Oil and Gas discontinued operations, net of tax |  | $ | (34,220 | ) | $ | 31,764 |  | $ | (34,173 | ) | $ | 23,962 |
Income (loss) from Rig Services discontinued operations: |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations |  | $ | 6,905 |  | $ | (4,149 | ) | $ | 9,823 |  | $ | (5,505 | )
Impairment charges or other gains and losses on sale of long-lived assets |  | 1,382 |  | (5,283 | ) | 1,129 |  | (5,256 | )
Less: income tax expense (benefit) |  | 2,071 |  | (2,358 | ) | 2,737 |  | (2,694 | )
Income (loss) from Rig Services discontinued operations, net of tax |  | $ | 6,216 |  | $ | (7,074 | ) | $ | 8,215 |  | $ | (8,067 | )
(1) The carrying value of some assets was adjusted. Refer to discussion above.

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 33, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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