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) upstream crude oil and natural gas exploration and production. Our upstream crude oil and natural gas exploration and production wholly owned subsidiary filed for bankruptcy in April 2017, 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 March 31, 2018
Revenues	$	373,638	$	13,618		$	—		$	387,256
Segment operating (losses) earnings ⁽¹⁾	2,958		402			—			3,360
Depreciation, depletion and amortization	1,497		915			—			2,412
Property and equipment additions	793		73			—			866

Three Months Ended March 31, 2017
Revenues	$	288,615	$	13,455		$	1,017		$	303,087
Segment operating (losses) earnings ⁽¹⁾	1,393		(298		)	(42		)	1,053
Depreciation, depletion and amortization	2,069		1,591			309			3,969
Property and equipment additions	82		102			822			1,006

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(1)	Our marketing segment’s operating earnings included inventory liquidation gains of $0.6 million for the three months ended March 31, 2018, and inventory valuation losses of $0.7 million for the three months ended March 31, 2017.

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
	March 31,
	2018			2017

Segment operating earnings	$	3,360		$	1,053
General and administrative	(2,283		)	(2,637		)
Operating earnings (losses)	1,077			(1,584		)
Interest income	387			159
Interest expense	(19		)	(1		)
(Losses) earnings before income taxes	$	1,445		$	(1,426	)

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



	March 31,		December 31,
	2018		2017

Reporting segment:
Marketing	$	135,759	$	134,745
Transportation	29,422		29,069
Oil and Gas ⁽¹⁾	425		425
Cash and other assets	118,902		118,465
Total assets	$	284,508	$	282,704

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(1)	Amounts represent our cost method investment in this segment.

Intersegment sales are insignificant. 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.