XML 20 R9.htm IDEA: XBRL DOCUMENT v3.4.0.3
Segment Reporting
 3 Months Ended
Mar. 31, 2016
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):

- Three Month Comparison

      
Segment
  
Depreciation
  
Property and
 
      
Operating
  
Depletion and
  
Equipment
 
   
Revenues
  
Earnings
  
Amortization
  
Additions
 
Period Ended March 31, 2016
            
Marketing
 $236,394  $4,648  $2,689  $263 
Transportation
  13,347   173   1,985   3,817 
Oil and gas
  790   (282)  441   130 
   $250,531  $4,539  $5,115  $4,210 
Period Ended March 31, 2015
                
Marketing
 $537,748  $8,848  $2,767  $1,850 
Transportation
  16,465   1,125   1,899   166 
Oil and gas
  1,360   (1,725)  1,422   1,649 
   $555,573  $8,248  $6,088  $3,665 

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):

   
Three Months Ended
 
   
March 31,
 
   
2016
  
2015
 
Segment operating earnings
 $4,539  $8,248 
- General and administrative
  (2,200)  (3,331)
Operating earnings
  2,339   4,917 
- Interest income
  103   78 
- Interest expense
  -   (4)
Earnings before income tax
 $2,442  $4,991 


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

   
March 31,
  
December 31,
 
   
2016
  
2015
 
Marketing
 $101,067  $96,723 
Transportation
  35,020   35,010 
Oil and gas
  8,243   8,930 
Other
  93,531   102,552 
   $237,861  $243,215 

Intersegment sales are insignificant and all sales occurred in the United States.  Other identifiable assets are primarily corporate cash, corporate accounts receivable, investments 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.