Acquisitions (Tables)

12 Months Ended

Dec. 31, 2011

Ethanol Plant in Hereford, Texas

Purchase Price Allocation for Based on Estimated Fair Value of Assets Acquired

the first quarter of 2011. The Company allocated the purchase price for the Hereford facility based on the fair value of the assets acquired as presented in the following table.

(Thousands of dollars)
Land and land improvements	$	2,379
Buildings and improvements		639
Machinery and transportation equipment		36,982
Total purchase price – Hereford ethanol facility	$	40,000

Ethanol Plant in Hankinson, North Dakota

Purchase Price Allocation for Based on Estimated Fair Value of Assets Acquired

Statement of Income beginning on the date of acquisition. The Company allocated the purchase price for the Hankinson facility based on the fair value of the assets acquired as presented in the following table.

(Thousands of dollars)
Inventory	$	2,469
Land and land improvements		11,833
Buildings and improvements		9,819
Machinery and transportation equipment		67,879
Total purchase price – Hankinson ethanol facility	$	92,000