XML 31 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting
(8)  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):

     
Segment
 Operating
  
Depreciation Depletion and
  
Property and Equipment
 
  
Revenues
  
Earnings (loss)
  
Amortization
  
Additions
 
Year ended December 31, 2016-
            
Marketing
 
$
1,043,775
  
$
17,045
  
$
9,997
  
$
1,321
 
Transportation
  
52,355
   
(48
)
  
7,249
   
6,868
 
Oil and gas
  
3,410
   
(533
)(2)
  
1,546
   
295
 
  
$
1,099,540
  
$
16,464
  
$
18,792
  
$
8,484
 
Year ended December 31, 2015-
                
Marketing
 
$
1,875,885
  
$
22,895
(1) 
 
$
11,097
  
$
2,126
 
Transportation
  
63,331
   
3,701
   
7,554
   
6,579
 
Oil and gas
  
5,063
   
(19,016
)(2)
  
5,066
   
2,369
 
  
$
1,944,279
  
$
7,580
  
$
23,717
  
$
11,074
 
Year ended December 31, 2014-
                
Marketing
 
$
4,050,497
  
$
20,854
(1) 
 
$
9,626
  
$
13,598
 
Transportation
  
68,968
   
4,750
   
7,416
   
8,994
 
Oil and gas
  
13,361
   
(7,510
)(2)
  
7,573
   
7,931
 
  
$
4,132,826
  
$
18,094
  
$
24,615
  
$
30,523
 
__________________________________
(1) Marketing segment operating earnings included inventory valuation losses totaling  $5.4 million  and $14.3 million for 2015 and 2014, respectively.
(2) Oil and gas segment operating earnings include gains on property sales totaling $2.5 million during 2014 and property impairments totaling  $12.1 million and $8.0 million for 2015 and 2014, respectively.

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):

  
Years Ended December 31,
 
  
2016
  
2015
  
2014
 
Segment operating earnings
 
$
16,464
  
$
7,580
  
$
18,094
 
- General and administrative expenses
  
(10,410
)
  
(9,939
)
  
(8,613
)
Operating earnings (loss)
  
6,054
   
(2,359
)
  
9,481
 
- Interest income
  
582
   
327
   
301
 
- Interest expense
  
(2
)
  
(13
)
  
(2
)
Earnings (loss) from continuing operations before
            
income taxes and discontinued operations
 
$
6,634
  
$
(2,045
)
 
$
9,780
 

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

  
Years Ended December 31,
 
  
2016
  
2015
  
2014
 
Marketing
 
$
107,257
  
$
96,723
  
$
189,332
 
Transportation
  
32,120
   
35,010
   
37,643
 
Oil and gas
  
7,279
   
8,930
   
25,888
 
Cash and other
  
100,216
   
102,552
   
87,951
 
  
$
246,872
  
$
243,215
  
$
340,814
 


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.