Segment Reporting

9 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segment Reporting

Note 3 – Segment Reporting

The Company is engaged in the business of crude oil and natural gas 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):

- Nine Month Comparison

			Segment		Depreciation		Property and
			Operating		Depletion and		Equipment
	Revenues		Earnings		Amortization		Additions
Period Ended September 30, 2012
Marketing
- Crude Oil	$	2,438,815	$	29,880	$	4,324	$	9,079
- Natural gas		4,069		1,057		16		-
Marketing Total		2,442,884		30,937		4,340		9,079
Transportation		50,137		7,919		4,186		15,484
Oil and gas		11,467		159		6,113		18,566
	$	2,504,488	$	39,015	$	14,639	$	43,129
Period Ended September 30, 2011
Marketing
- Crude Oil	$	2,133,485	$	26,341	$	2,565	$	10,565
- Natural gas		4,256		1,734		3		64
Marketing Total		2,137,741		28,075		2,568		10,629
Transportation		49,547		7,003		2,915		9,810
Oil and gas		10,091		413		5,578		20,701
	$	2,197,379	$	35,491	$	11,061	$	41,140

- Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended September 30, 2012
Marketing
- Crude Oil	$	773,611	$	13,278		$	1,596	$	1,673
- Natural gas		1,121		174			15		-
Marketing Total		774,732		13,452			1,611		1,673
Transportation		16,741		2,607			1,574		4,740
Oil and gas		4,052		314			2,265		5,106
	$	795,525	$	16,373		$	5,450	$	11,519
Period Ended September 30, 2011
Marketing
- Crude Oil	$	735,514	$	15,401		$	1,027	$	1,937
- Natural gas		1,563		654			1		8
Marketing Total		737,077		16,055			1,028		1,945
Transportation		15,398		2,078			1,041		682
Oil and gas		3,520		(1,462	)		1,884		8,306
	$	755,995	$	16,671		$	3,953	$	10,933

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):

	Nine months ended						Three months ended
	September 30,						September 30,
	2012			2011			2012			2011
Segment operating earnings (loss)	$	39,015		$	35,491		$	16,373		$	16,671
- General and administrative		(7,300	)		(7,324	)		(2,603	)		(2,727	)
Operating earnings		31,715			28,167			13,770			13,944
- Interest income		120			233			78			142
- Interest expense		(4	)		(7	)		(1	)		-
Earnings from continuing operations
before income taxes and
discontinued operations	$	31,831		$	28,393		$	13,847		$	14,086

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

	September 30,		December 31,
	2012		2011
Marketing
- Crude oil	$	238,930	$	253,817
- Natural gas		9,570		12,246
Marketing Total		248,500		266,063
Transportation		41,155		27,221
Oil and gas		40,531		29,105
Other		58,469		56,451
	$	388,655	$	378,840

Intersegment sales are insignificant.  Other identifiable assets are primarily corporate cash and assets not identified with any specific segment of the Company's business.  All sales by the Company occurred in the United States.