Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Information concerning business activities

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


	Reporting Segments
	Marketing		Transportation		Other		Total

Three Months Ended June 30, 2019
Revenues	$	467,040	$	17,393	$	—	$	484,433
Segment operating earnings ⁽¹⁾	962		977		—		1,939
Depreciation and amortization	2,304		1,980		—		4,284
Property and equipment additions ⁽²⁾	1,348		3,422		—		4,770

Three Months Ended June 30, 2018
Revenues	$	438,791	$	13,626	$	—	$	452,417
Segment operating earnings ⁽¹⁾	5,772		810		—		6,582
Depreciation and amortization	1,336		926		—		2,262
Property and equipment additions	277		1,572		—		1,849

Six Months Ended June 30, 2019
Revenues	$	896,801	$	32,800	$	—	$	929,601
Segment operating (losses) earnings ⁽¹⁾	8,060		1,816		—		9,876
Depreciation, depletion and amortization	4,426		3,447		—		7,873
Property and equipment additions ⁽²⁾	3,002		10,119		—		13,121

Six Months Ended June 30, 2018
Revenues	$	812,429	$	27,244	$	—	$	839,673
Segment operating (losses) earnings ⁽¹⁾	8,730		1,212		—		9,942
Depreciation, depletion and amortization	2,833		1,841		—		4,674
Property and equipment additions	1,070		1,645		—		2,715

_______________

(1) Our crude oil marketing segment’s operating earnings included inventory valuation losses of $1.0 million and inventory liquidation gains of $1.9 million for the three months ended June 30, 2019 and 2018, respectively. For the six months ended June 30, 2019 and 2018, our marketing segment’s operating earnings included inventory liquidation gains of $3.5 million and $2.5 million, respectively.

(2) Our crude oil marketing segment’s property and equipment additions do not include approximately $3.6 million and $4.1 million of tractors and tank storage and throughput arrangements acquired under finance leases during the three and six months ended June 30, 2019, respectively.

Reconciliation of segment earnings to earnings before income taxes

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


	Three Months Ended June 30,						Six Months Ended June 30,

	2019		2018		2019		2018

Segment operating earnings	$	1,939	$	6,582	$	9,876	$	9,942
General and administrative	(2,582)		(2,284)		(5,266)		(4,567)
Operating earnings	(643)		4,298		4,610		5,375
Gain on dissolution of investment	75		—		573		—



Interest income	731		498		1,387		885
Interest expense	(117)		(15)		(182)		(34)
Earnings before income taxes	$	46	$	4,781	$	6,388	$	6,226

Identifiable assets by industry segment

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


	June 30,		December 31,
	2019		2018

Reporting segment:
Marketing	$	113,554	$	119,370
Transportation	47,688		34,112

Cash and other	140,522		125,388
Total assets	$	301,764	$	278,870