Segment Reporting

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Reporting

Note 3 – 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):

- Three Month Comparison

			Segment			Depreciation		Property and
			Operating			Depletion and		Equipment
	Revenues		Earnings			Amortization		Additions
Period Ended March 31, 2014
Marketing	$	927,204	$	9,370		$	2,269	$	4,076
Transportation		17,649		1,175			1,813		203
Oil and gas		4,336		121			2,024		3,491
	$	949,189	$	10,666		$	6,106	$	7,770
Period Ended March 31, 2013
Marketing		931,876		13,434			1,764	$	1,361
Transportation		17,346		1,398			1,736		145
Oil and gas		3,213		(131	)		2,029		2,397
	$	952,435	$	14,701		$	5,529	$	3,903

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,
	2014			2013
Segment operating earnings	$	10,666		$	14,701
- General and administrative expense		(2,254	)		(2,032	)
Operating earnings		8,412			12,669
- Interest income		42			38
- Interest expense		-			(2	)
Earnings from continuing operations before
income taxes and discontinued operations	$	8,454		$	12,705

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

	March 31,		December 31,
	2014		2013
Marketing	$	294,928	$	306,693
Transportation		34,941		34,406
Oil and gas		37,437		37,093
Other		97,306		69,890
	$	464,612	$	448,082

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.