NORTHWEST NATURAL GAS COMPANYPurchase and Sale Agreement • September 24th, 2018 • Northwest Natural Gas Co • Natural gas distribution
On June 20, 2018, NW Natural Gas Storage, LLC (NWN Gas Storage), our wholly-owned subsidiary, entered into a Purchase and Sale Agreement that provides for the sale of all of the membership interests in its wholly-owned subsidiary, Gill Ranch Storage, LLC (Gill Ranch), subject to various regulatory approvals and closing conditions. We have concluded that the pending sale of Gill Ranch qualifies as assets and liabilities held for sale and discontinued operations. Accordingly, our consolidated financial information for the three years ended December 31, 2017, 2016, and 2015 have been recast to present the results of Gill Ranch as discontinued operations on the consolidated statements of comprehensive income and cash flows, and the assets and liabilities associated with Gill Ranch have been classified as discontinued operations on the consolidated balance sheets. See Item 8, Note 16 for additional information. Additionally, we reevaluated our reportable segments and concluded that the rema
