Cut and Paste Within InDesign Removes Formatting

When I try to cut and paste a block of text within the same document in InDesign, it removes all of the styling. It doesn’t matter if I’m using style sheets or not. I also updated InDesign to the latest version today and it did not resolve the issue. See attached – when I select, copy and paste the left hand-column copy into the right column, all of the styling is lost.