Discontinued Operations
Discontinued Operations represent physically and operationally distinct segments or assets that a company has sold or is in the process of divesting in the current year.
Discontinued operations are reported net of taxes on a separate line called “Income (Loss) from Discontinued Operations” to distinguish it from core earnings “Income (Loss) from Continuing Operations” (Exhibit 5.8), and disclosed on the income statement after income from continuing operations, but before extraordinary items.
Year ended December 31 | |||||
---|---|---|---|---|---|
2004 | 2003 | 2002 | |||
REVENUES AND OTHER INCOME | |||||
Sales and other operating revenues 1,2 | $150,865 | $119,575 | $ 98,340 | ||
Income (loss) from equity affiliates | 2,582 | 1,029 | (25) | ||
Other income | 1,853 | 308 | 222 | ||
Gain from exchange of Dynegy preferred stock | – | 365 | – | ||
TOTAL REVENUES AND OTHER INCOME | 155,300 | 121,277 | 98,537 | ||
COSTS AND OTHER DEDUCTIONS | |||||
Purchased crude oil and products 2 | 94,419 | 71,310 | 57,051 | ||
Operating expenses | 9,832 | 8,500 | 7,795 | ||
Selling, general and administrative expenses | 4,557 | 4,440 | 4,155 | ||
Exploration expenses | 697 | 570 | 591 | ||
Depreciation, depletion and amortization | 4,935 | 5,326 | 5,169 | ||
Taxes other than on income 1 | 19,818 | 17,901 | 16,682 | ||
Interest and debt expense | 406 | 474 | 565 | ||
Minority interests | 85 | 80 | 57 | ||
Write-down of investments in Dynegy Inc. | – | – | 1,796 | ||
Merger-related expenses | – | – | 576 | ||
TOTAL COSTS AND OTHER DEDUCTIONS | 134,749 | 108,601 | 94,437 | ||
INCOME FROM CONTINUING OPERATIONS BEFORE ... |
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