CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK (Tables)

9 Months Ended

Sep. 30, 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 three and nine months ended September 30, 2012, are as follows:

	Three months ended					Nine months ended
	September 30, 2012					September 30, 2012
	As Reported		As Restated			As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Income
Equity in loss of AMAK	$	-	$	(528	)	$	-	$	(1,043	)
Income before income tax expense		5,296		4,768			13,922		12,879
Net income		3,532		3,004			9,514		8,471
Net income attributable to Arabian American Development Company		3,532		3,004			9,514		8,471
Net income per common share
Basic	$	0.15	$	0.13		$	0.40	$	0.35
Diluted	$	0.14	$	0.12		$	0.38	$	0.34

	Three months ended				Nine months ended
	September 30, 2012				September 30, 2012
	As Reported		As Restated		As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Comprehensive Income
Net income	$	3,532	$	3,004	$	9,514	$	8,471
Comprehensive income		3,561		3,033		9,617		8,574

	September 30, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Cash Flows
Operating activities
Net income attributable to Arabian American Development Company	$	9,514	$	8,471
Equity in loss of AMAK		-		1,043