Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

Note 3 – Segment Reporting

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

- Six Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2014
Marketing	$	2,066,208	$	17,146		$	4,556	$	5,931
Transportation		34,952		2,130			3,631		429
Oil and gas		7,960		(387	)		4,028		5,729
	$	2,109,120	$	18,889		$	12,215	$	12,089
Period Ended June 30, 2013
Marketing	$	1,875,719	$	24,115		$	3,578	$	8,580
Transportation		34,889		3,231			3,476		1,573
Oil and gas		6,925		244			3,720		6,145
	$	1,917,533	$	27,590		$	10,774	$	16,298

- Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2014
Marketing Total	$	1,139,004	$	7,776		$	2,287	$	1,855
Transportation		17,303		955			1,818		226
Oil and gas		3,624		(508	)		2,004		2,238
	$	1,159,931	$	8,223		$	6,109	$	4,319
Period Ended June 30, 2013
Marketing Total		943,843		10,681			1,814		7,219
Transportation		17,543		1,833			1,740		1,428
Oil and gas		3,712		375			1,691		3,748
	$	965,098	$	12,889		$	5,245	$	12,395

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):

	Six Months Ended						Three Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Segment operating earnings	$	18,889		$	27,590		$	8,223		$	12,889
- General and administrative		(4,401	)		(4,463	)		(2,147	)		(2,431	)
Operating earnings		14,488			23,127			6,076			10,458
- Interest income		87			70			45			32
- Interest expense		-			(23	)		-			(21	)
Earnings from continuing operations
before income taxes and
discontinued operations	$	14,575		$	23,174		$	6,121		$	10,469

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

	June 30,		December 31,
	2014		2013
Marketing	$	354,784	$	306,693
Transportation		32,841		34,406
Oil and gas		37,095		37,093
Other		58,424		69,890
	$	483,144	$	448,082

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