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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Components of provision (benefit) for income taxes

		Year Ended December 31,
(Thousands of dollars)		2012				2011
Current:
Federal		$	16			$	503
State			(130	)			54
Total current			(114	)			557
Deferred:
Federal			7,009				522
State			(39	)			196
Total deferred			6,970				718
Total income tax provision		$	6,856			$	1,275

Components of net deferred tax assets and liabilities

		At December 31,
(Thousands of dollars)		2012				2011
Current Assets:
Accrued liabilities		$	613			$	474
Allowance for doubtful accounts			124				148
Derivative contracts			(83	)			723
Total current deferred income tax assets		$	654			$	1,345
Non-Current Assets:
Alternative minimum tax credits		$	5,890			$	5,873
Net operating loss carry-forwards			114				161
Percentage depletion carry-forwards			4,287				2,946
Derivative contracts			91				520
Total non-current assets			10,382				9,500
Non-Current Liabilities:
Basis differences relating to managed partnerships			1,492				1,989
Depletion and depreciation			33,084				25,425
Total non-current liabilities			34,576				27,414
Net non-current deferred income tax liabilities		$	24,194			$	17,914

Provision for income taxes varies from federal statutory tax rate

		Year Ended December 31,
(Thousands of dollars)		2012				2011
Expected tax expense		$	7,450			$	2,069
State income tax, net of federal benefit			(112	)			167
Percentage depletion			(902	)			(1,242	)
Other, net			420				281
Total income tax provision		$	6,856			$	1,275

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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