Business Segments (Tables)

9 Months Ended

Sep. 30, 2012

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(in thousands)
Net sales
Petroleum	$	2,337,354		$	1,284,407		$	6,465,378		$	3,772,348
Nitrogen Fertilizer		75,013			77,203			234,720			215,253
Intersegment elimination		(2,743	)		(9,646	)		(13,525	)		(20,656	)

Total	$	2,409,624		$	1,351,964		$	6,686,573		$	3,966,945

Cost of product sold (exclusive of depreciation and amortization)
Petroleum	$	1,694,019		$	1,024,509		$	5,190,839		$	3,077,555
Nitrogen Fertilizer		11,297			10,901			34,620			28,138
Intersegment elimination		(2,864	)		(9,370	)		(13,642	)		(19,456	)

Total	$	1,702,452		$	1,026,040		$	5,211,817		$	3,086,237

Direct operating expenses (exclusive of depreciation and amortization)
Petroleum	$	88,890		$	54,510		$	253,176		$	143,974
Nitrogen Fertilizer		21,063			20,083			66,424			65,373
Other		(24	)		22			(58	)		(91	)

Total	$	109,929		$	74,615		$	319,542		$	209,256

Insurance recovery—business interruption
Petroleum	$	—		$	—		$	—		$	—
Nitrogen Fertilizer		—			(490	)		—			(3,360	)
Other		—			—			—			—

Total	$	—		$	(490	)	$	—		$	(3,360	)

Depreciation and amortization
Petroleum	$	27,458		$	16,990		$	80,355		$	50,872
Nitrogen Fertilizer		5,230			4,663			15,826			13,948
Other		421			372			1,230			1,259

Total	$	33,109		$	22,025		$	97,411		$	66,079

Operating income (loss)
Petroleum	$	507,470		$	179,815		$	891,222		$	469,042
Nitrogen Fertilizer		32,347			37,514			99,820			93,626
Other		(6,073	)		(5,139	)		(81,018	)		(22,952	)

Total	$	533,744		$	212,190		$	910,024		$	539,716

Capital expenditures
Petroleum	$	20,211		$	20,216		$	82,604		$	33,430
Nitrogen fertilizer		18,201			4,492			57,419			10,539
Other		1,482			944			5,030			2,662

Total	$	39,894		$	25,652		$	145,053		$	46,631

	As of September 30, 2012		As of December 31, 2011

Total assets
Petroleum	$	2,188,950	$	2,322,148
Nitrogen Fertilizer		653,242		659,309
Other		810,185		137,834

Total	$	3,652,377	$	3,119,291

Goodwill
Petroleum	$	—	$	—
Nitrogen Fertilizer		40,969		40,969
Other		—		—

Total	$	40,969	$	40,969

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details