CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK (Tables)

3 Months Ended

Mar. 31, 2013

CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK [Abstract]

Schedule of Change in Accounting Principal

The effects of the retrospective application of the equity method of accounting to the first quarter of 2012 are as follows:

	March 31, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Income
Equity in loss of AMAK	$	-	$	(213	)
Income before income tax expense		3,275		3,062
Net income		2,208		1,995
Net income attributable to Arabian American Development Company		2,208		1,995
Net income per common share
Basic	$	0.09	$	0.08
Diluted	$	0.09	$	0.08

	March 31, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Comprehensive Income
Net income	$	2,208	$	1,995
Comprehensive income		2,279		2,066

	March 31, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Cash Flows
Operating activities
Net income attributable to Arabian American Development Company	$	2,208	$	1,995
Equity in gain (loss) of AMAK		-		213

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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