Discontinued OperationsDiscontinued operations results were a loss of $2.2 million in the third quarter 2012, compared to income of $58.8 million in the third quarter 2011. Beginning in the third quarter 2012, the results of operations for the U.K. E&P operations have been reported as discontinued operations due to the anticipated sale of this business in the coming months. The 2011 results for these U.K. operations have been reclassified to conform to this presentation. Discontinued operations in 2011 included a loss of $11.6 million for the U.K. E&P operations and income of $70.4 million related to the two U.S. refineries sold in late 2011. The U.S. refining income from discontinued operations in 2011 included a net gain on sale of $16.9 million. Discontinued operations in both years included tax charges for enacted tax rate changes in the U.K.; these tax charges totaled $5.5 million in 2012 and $14.5 million in 2011.
Murphy Oil Announces Preliminary Quarterly Earnings
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