RESTATEMENT OF FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2012

RESTATEMENT OF FINANCIAL STATEMENTS [Abstract]

The effects of the restatement are as follows:

	December 31, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Balance Sheets
Investment in AMAK	$	38,971	$	37,894
Total Assets		121,453		120,376
Retained Earnings		36,428		35,351
Total Arabian American Development Company Stockholders' Equity		83,020		81,943
Total Equity		83,309		82,232
Total Liabilities and Equity		121,453		120,376

Consolidated Statements of Income
Equity in earnings (loss) of AMAK	$	866	$	(211	)
Income before income tax expense		17,302		16,226
Net income		11,398		10,321
Net income attributable to Arabian American Development Company		11,398		10,321
Net income per common share:
Basic earnings per share (dollars)	$	0.47	$	0.43
Diluted earnings per share (dollars)	$	0.46	$	0.42


Consolidated Statements of Comprehensive Income
Net Income	$	11,398	$	10,321
Comprehensive Income		11,566		10,489

Consolidated Statement of Stockholders' Equity
Net Income	$	11,398	$	10,321
Retained Earnings		36,428		35,351
Total		83,020		81,943
Total Equity		83,309		82,232

Consolidated Statements of Cash Flows
Operating Activities
Net income attributable to Arabian American Development Company	$	11,398		$	10,321
Equity in (income) loss of AMAK		(866	)		211

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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