Segment Reporting

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Historically, our three reporting segments have been: (i) crude oil marketing, transportation and storage, (ii) tank truck transportation of liquid chemicals and dry bulk and ISO tank container storage and transportation, and (iii) oil and natural gas exploration and production. Our oil and natural gas exploration and production wholly owned subsidiary filed for bankruptcy in April 2017 (see Note 3 for further information), and as a result of our loss of control of the wholly owned subsidiary, AREC was deconsolidated and is accounted for under the cost method of accounting. AREC remained a reportable segment until its deconsolidation, effective April 30, 2017.

Information concerning our various business activities was as follows for the periods indicated (in thousands):

	Reporting Segments
	Marketing		Transportation			Oil and Gas			Total
Three Months Ended September 30, 2017
Revenues	$	282,229	$	13,082		$	—		$	295,311
Segment operating (losses) earnings	2,412		(915		)	—			1,497
Depreciation, depletion and amortization	1,911		1,329			—			3,240
Property and equipment additions	178		179			—			357
Three Months Ended September 30, 2016
Revenues	$	243,704	$	12,310		$	863		$	256,877
Segment operating (losses) earnings	1,265		(430		)	(543		)	292
Depreciation, depletion and amortization	2,418		1,701			395			4,514
Property and equipment additions	—		2,329			85			2,414
Nine Months Ended September 30, 2017
Revenues	$	872,020	$	40,153		$	1,427		$	913,600
Segment operating (losses) earnings	5,496		(920		)	53			4,629
Depreciation, depletion and amortization	5,957		4,392			423			10,772
Property and equipment additions	451		189			1,825			2,465
Nine Months Ended September 30, 2016
Revenues	$	758,627	$	39,517		$	2,427		$	800,571
Segment operating (losses) earnings	13,148		444			(1,222		)	12,370
Depreciation, depletion and amortization	7,621		5,536			1,228			14,385
Property and equipment additions	514		6,480			192			7,186

Segment operating earnings reflect revenues net of operating costs and depreciation, depletion and amortization expense and are reconciled to earnings (losses) before income taxes, as follows for the periods indicated (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Segment operating earnings	$	1,497		$	292		$	4,629		$	12,370
General and administrative	(2,787		)	(2,114		)	(6,884		)	(6,252		)
Operating earnings (losses)	(1,290		)	(1,822		)	(2,255		)	6,118
Loss on deconsolidation of subsidiary	(1,870		)	—			(3,505		)	—
Impairment of investments in unconsolidated affiliates	(2,500		)	(1,732		)	(2,500		)	(1,732		)
Losses from equity investment	—			(68		)	—			(468		)
Interest income	370			245			789			444
Interest expense	(8		)	—			(10		)	—
(Losses) earnings before income taxes	$	(5,298	)	$	(3,377	)	$	(7,481	)	$	4,362

Identifiable assets by industry segment were as follows at the dates indicated (in thousands):

	September 30,		December 31,
	2017		2016
Reporting segment:
Marketing	$	107,388	$	107,257
Transportation	29,492		32,120
Oil and Gas (1)	3,200		7,279
Cash and other assets	108,449		100,216
Total assets	$	248,529	$	246,872

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(1) At September 30, 2017, amount represents our cost method investment in this segment.

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 our business. Accounting policies for transactions between reportable segments are consistent with applicable accounting policies as disclosed herein.