Segment Reporting

9 Months Ended

Sep. 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):

- Nine Month Comparison

			Segment		Depreciation		Property and
			Operating		Depletion and		Equipment
	Revenues		Earnings		Amortization		Additions
Period Ended September 30, 2014
Marketing	$	3,219,457	$	22,187	$	7,006	$	9,308
Transportation		52,490		3,594		5,513		6,280
Oil and gas		11,143		1,140		5,924		7,067
	$	3,283,090	$	26,921	$	18,443	$	22,655
Period Ended September 30, 2013
Marketing	$	2,915,056	$	35,509	$	5,517	$	9,512
Transportation		51,795		4,479		5,263		3,162
Oil and gas		11,022		996		5,367		10,459
	$	2,977,873	$	40,984	$	16,147	$	23,133

- Three Month Comparison

			Segment		Depreciation		Property and
			Operating		Depletion and		Equipment
	Revenues		Earnings		Amortization		Additions
Period Ended September 30, 2014
Marketing	$	1,153,249	$	5,041	$	2,450	$	3,377
Transportation		17,538		1,464		1,882		5,851
Oil and gas		3,183		1,527		1,896		1,338
	$	1,173,970	$	8,032	$	6,228	$	10,566
Period Ended September 30, 2013
Marketing	$	1,039,337	$	11,394	$	1,939	$	932
Transportation		16,906		1,248		1,787		1,589
Oil and gas		4,097		752		1,647		4,314
	$	1,060,340	$	13,394	$	5,373	$	6,835

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,
	2014			2013			2014			2013
Segment operating earnings	$	26,921		$	40,984		$	8,032		$	13,394
- General and administrative		(6,701	)		(6,711	)		(2,300	)		(2,248	)
Operating earnings		20,220			34,273			5,732			11,146
- Interest income		205			103			118			33
- Interest expense		(2	)		(24	)		(2	)		(1	)
Earnings from continuing operations
before income taxes and
discontinued operations	$	20,423		$	34,352		$	5,848		$	11,178

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

	September 30,		December 31,
	2014		2013
Marketing	$	275,239	$	306,693
Transportation		40,492		34,406
Oil and gas		33,875		37,093
Other		106,294		69,890
	$	455,900	$	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.