Segment Reporting

6 Months Ended

Jun. 30, 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):

- Six Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2016
Marketing	$	514,923	$	11,883		$	5,203	$	514
Transportation		27,207		874			3,835		4,151
Oil and gas		1,564		(679	)		833		147
	$	543,694	$	12,078		$	9,871	$	4,812
Period Ended June 30, 2015
Marketing	$	1,118,985	$	18,690		$	5,554	$	2,128
Transportation		34,173		2,294			3,799		534
Oil and gas		2,973		(3,497	)		2,765		2,171
	$	1,156,131	$	17,487		$	12,118	$	4,833

-   Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended June 30, 2016
Marketing	$	278,529	$	7,235		$	2,514	$	251
Transportation		13,860		701			1,850		334
Oil and gas		774		(397	)		392		17
	$	293,163	$	7,539		$	4,756	$	602
Period Ended June 30, 2015
Marketing	$	581,237	$	9,842		$	2,787	$	278
Transportation		17,708		1,169			1,900		368
Oil and gas		1,613		(1,772	)		1,343		522
	$	600,558	$	9,239		$	6,030	$	1,168

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,
	2016			2015			2016			2015
Segment operating earnings	$	12,078		$	17,487		$	7,539		$	9,239
- General and administrative		(4,138	)		(5,649	)		(1,938	)		(2,318	)
Operating earnings		7,940			11,838			5,601			6,921
- Interest income		199			173			96			95
- Interest expense		-			(4	)		-			-
Earnings before income tax	$	8,139		$	12,007		$	5,697		$	7,016

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

	June 30,		December 31,
	2016		2015
Marketing	$	105,483	$	96,723
Transportation		34,731		35,010
Oil and gas		7,666		8,930
Other		103,646		102,552
	$	251,526	$	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.