Segment Reporting

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Reporting

Note 3 – Segment Reporting

The Company’s three reporting segments are crude oil marketing, tank truck transportation of liquid chemicals and dry bulk, 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 (Loss)			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended March 31, 2017
Marketing	$	288,615	$	1,393		$	2,069	$	82
Transportation		13,455		(298	)		1,591		102
Oil and gas		1,017		(42	)		309		822
	$	303,087	$	1,053		$	3,969	$	1,006
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

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,
	2017			2016
Segment operating earnings	$	1,053		$	4,539
- General and administrative		(2,637	)		(2,200	)
Operating (loss) earnings		(1,584	)		2,339
- Interest income		159			103
- Interest expense		(1	)		-
(Loss) Earnings before income tax	$	(1,426	)	$	2,442

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

	March 31,		December 31,
	2017		2016
Marketing	$	114,526	$	107,257
Transportation		32,231		32,120
Oil and gas		8,167		7,279
Other		109,239		100,216
	$	264,163	$	246,872

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.