Other Comprehensive Income

12 Months Ended

Dec. 31, 2011

Other Comprehensive Income (Loss), Tax [Abstract]

OTHER COMPREHENSIVE INCOME

2. OTHER COMPREHENSIVE INCOME:

Other comprehensive income (loss) is a term used to define revenues, expenses, gains and losses that under generally accepted accounting principles impact Shareholders' Equity, excluding transactions with shareholders.

		Year Ended December 31,
		2011		2010		2009
Net income (loss)	$	453,202	$	464,459	$	(451,053)
Unrealized gain on derivative instruments*		-		-		(24,002)
Tax expense on unrealized gain on derivative instruments		-		-		8,425
Total comprehensive income (loss)	$	453,202	$	464,459	$	(466,630)

Effective November 3, 2008, the Company changed its method of accounting for natural gas commodity derivatives to reflect unrealized gains and losses on commodity derivative contracts in the income statement rather than on the balance sheet (See Note 8). The net gain or loss in accumulated other comprehensive income at November 3, 2008 remained on the balance sheet and the respective month's gains or losses were reclassified from accumulated other comprehensive income to earnings as the counterparty settlements affected earnings (January through December 2009). As a result of the de-designation on November 3, 2008, the Company no longer has any derivative instruments which qualify for cash flow hedge accounting.