Segment Reporting

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Reporting

(8)  Segment Reporting

The Company is engaged in the business of crude oil, natural gas and petroleum products marketing as well as tank truck transportation of liquid chemicals, and oil and gas exploration and production.  Information concerning the Company's various business activities is summarized as follows (in thousands):

			Segment Operating			Depreciation Depletion and		Property and Equipment
	Revenues		Earnings (loss)			Amortization		Additions
Year ended December 31, 2011-
Marketing
- Crude oil	$	2,961,176	$	49,237		$	3,724	$	13,554
- Natural gas		6,251		2,147			3		64
- Refined products		169,411		(788	)		375		66
Marketing Total		3,136,838		50,596			4,102		13,684
Transportation		63,501		8,521			3,912		14,118
Oil and gas		14,060		(13,871	)		8,246		24,580
	$	3,214,399	$	45,246		$	16,260	$	52,382
Year ended December 31, 2010-
Marketing
- Crude oil	$	2,005,301	$	13,530		$	2,320	$	6,051
- Natural gas		10,592		3,073			44		115
- Refined products		128,189		121			503		146
Marketing Total		2,144,082		16,724			2,867		6,312
Transportation		56,867		6,623			4,288		4,410
Oil and gas		11,021		(1,757	)		4,662		11,699
	$	2,211,970	$	21,590		$	11,817	$	22,421
Year ended December 31, 2009-
Marketing
- Crude oil	$	1,770,600	$	15,404		$	1,997	$	1,947
- Natural gas		14,232		2,749			166		-
- Refined products		104,751		(666	)		533		177
Marketing Total		1,889,583		17,487			2,696		2,124
Transportation		44,895		2,128			3,970		7,524
Oil and gas		8,650		(3,625	)		3,654		12,742
	$	1,943,128	$	15,990		$	10,320	$	22,390

Intersegment sales are insignificant and all sales by the Company occurred in the United States.

Segment operating earnings reflect revenues net of operating costs and depreciation, depletion and amortization and are reconciled to earnings from continuing operations before income taxes, as follows (in thousands):

	Years Ended December 31,
	2011			2010			2009
Segment operating earnings	$	45,246		$	21,590		$	15,990
- General and administrative expenses		(9,713	)		(9,044	)		(9,589	)
Operating earnings		35,533			12,546			6,401
- Interest income		237			191			125
- Interest expense		(8	)		(36	)		(25	)
Earnings before income taxes	$	35,762		$	12,701		$	6,501

Identifiable assets by industry segment are as follows (in thousands):

	Years Ended December 31,
	2011		2010
Marketing
- Crude oil	$	253,817	$	184,299
- Natural gas		12,246		19,948
- Refined products		11,700		11,594
Marketing Total		277,763		215,841
Transportation		27,221		17,378
Oil and gas		29,105		32,563
Other		44,751		35,523
	$	378,840	$	301,305

Other identifiable assets are primarily corporate cash, corporate accounts receivable, and properties not identified with any specific segment of the Company's business.  Accounting policies for transactions between reportable segments are consistent with applicable accounting policies as disclosed herein.