Segments and Related Information

6 Months Ended

Jun. 30, 2011

Segments and Related Information [Abstract]

Segments and Related Information

14. Segments and Related Information

a. Segment Reporting

     The Company has two reportable segments: Specialty Products and Fuel Products. The Specialty Products segment produces a variety of lubricating oils, solvents, waxes and asphalt and other by-products. These products are sold to customers who purchase these products primarily as raw material components for basic automotive, industrial and consumer goods. The Fuel Products segment produces a variety of fuel and fuel-related products including gasoline, diesel and jet fuel. Because of the similar economic characteristics, certain operations have been aggregated for segment reporting purposes.

     The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on income (loss) from operations. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up. Reportable segment information is as follows:

	Specialty		Fuel			Combined					Consolidated
Three Months Ended June 30, 2011	Products		Products			Segments		Eliminations			Total
Sales:
External customers	$	466,414	$	267,356		$	733,770	$	—		$	733,770
Intersegment sales		291,351		15,272			306,623		(306,623	)		—
Total sales	$	757,765	$	282,628		$	1,040,393	$	(306,623	)	$	733,770
Depreciation and amortization		17,722		—			17,722		—			17,722
Operating income (loss)		35,485		(12,074	)		23,411		—			23,411
Reconciling items to net loss:
Interest expense												(10,544	)
Debt extinguishment costs												(15,130	)
Loss on derivative instruments												(5,494	)
Other												274
Income tax expense												(168	)
Net loss											$	(7,651	)
Capital expenditures	$	14,069	$	—		$	14,069	$	—		$	14,069

	Specialty		Fuel		Combined					Consolidated
Three Months Ended June 30, 2010	Products		Products		Segments		Eliminations			Total
Sales:
External customers	$	329,423	$	185,229	$	514,652	$	—		$	514,652
Intersegment sales		188,654		16,427		205,081		(205,081	)		—
Total sales	$	518,077	$	201,656	$	719,733	$	(205,081	)	$	514,652
Depreciation and amortization		18,017		—		18,017		—			18,017
Operating income		19,472		292		19,764		—			19,764
Reconciling items to net loss:
Interest expense											(7,277	)
Loss on derivative instruments											(13,305	)
Other											9
Income tax expense											(98	)
Net loss										$	(907	)
Capital expenditures	$	11,348	$	—	$	11,348	$	—		$	11,348

	Specialty		Fuel			Combined					Consolidated
Six Months Ended June 30, 2011	Products		Products			Segments		Eliminations			Total
Sales:
External customers	$	863,516	$	475,494		$	1,339,010	$	—		$	1,339,010
Intersegment sales		507,428		18,907			526,335		(526,335	)		—
Total sales	$	1,370,944	$	494,401		$	1,865,345	$	(526,335	)	$	1,339,010
Depreciation and amortization		36,365		—			36,365		—			36,365
Operating income (loss)		51,955		(16,390	)		35,565		—			35,565
Reconciling items to net loss:
Interest expense												(18,025	)
Debt extinguishment costs												(15,130	)
Loss on derivative instruments												(5,525	)
Other												103
Income tax expense												(438	)
Net loss											$	(3,450	)
Capital expenditures	$	20,635	$	—		$	20,635	$	—		$	20,635

	Specialty		Fuel		Combined					Consolidated
Six Months Ended June 30, 2010	Products		Products		Segments		Eliminations			Total
Sales:
External customers	$	634,899	$	364,370	$	999,269	$	—		$	999,269
Intersegment sales		363,261		27,217		390,478		(390,478	)		—
Total sales	$	998,160	$	391,587	$	1,389,747	$	(390,478	)	$	999,269
Depreciation and amortization		35,508		—		35,508		—			35,508
Operating income		16,835		5,836		22,671		—			22,671
Reconciling items to net loss:
Interest expense											(14,711	)
Loss on derivative instruments											(21,624	)
Other											(50	)
Income tax expense											(260	)
Net loss										$	(13,974	)
Capital expenditures	$	17,017	$	—	$	17,017	$	—		$	17,017

	June 30, 2011		December 31, 2010
Segment assets:
Specialty products	$	1,058,981	$	962,850
Fuel products		137,243		53,822
Total assets	$	1,196,224	$	1,016,672

b. Geographic Information

     International sales accounted for less than 10% of consolidated sales in each of the three months and six months ended June 30, 2011 and 2010. All of the Company’s long-lived assets are domestically located.

c. Product Information

     The Company offers products primarily in five general categories consisting of lubricating oils, solvents, waxes, fuels and asphalt and by-products. Fuel products primarily consist of gasoline, diesel, jet fuel and by-products. The following table sets forth the major product category sales:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Specialty products:
Lubricating oils	$	246,448	$	176,354	$	455,499	$	340,402
Solvents		135,642		95,777		253,978		183,631
Waxes		33,874		28,362		68,181		54,608
Fuels		592		2,232		1,423		3,971
Asphalt and other by-products		49,858		26,698		84,435		52,287
Total	$	466,414	$	329,423	$	863,516	$	634,899
Fuel products:
Gasoline		127,452		76,287		223,233		152,170
Diesel		91,611		77,396		173,764		141,626
Jet fuel		40,686		27,816		67,460		65,380
By-products		7,607		3,730		11,037		5,194
Total	$	267,356	$	185,229	$	475,494	$	364,370
Consolidated sales	$	733,770	$	514,652	$	1,339,010	$	999,269

d. Major Customers

     During the three and six months ended June 30, 2011 and 2010, the Company had no customer that represented 10% or greater of consolidated sales.