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Note 9 - Segment information
 3 Months Ended
Mar. 31, 2012
Segment Reporting Disclosure [Text Block]
9)           Segment information

FutureFuel has two reportable segments organized along product lines – chemicals and biofuels.

Chemicals

FutureFuel’s chemicals segment manufactures diversified chemical products that are sold externally to third party customers.  This segment comprises two components: “custom manufacturing” (manufacturing chemicals for specific customers); and “performance chemicals” (multi-customer specialty chemicals).

Biofuels

FutureFuel’s biofuels business segment manufactures and markets biodiesel.  Biodiesel revenues are generated through the sale of biodiesel to customers through FutureFuel’s distribution network at the Batesville Plant and through distribution facilities available at a leased oil storage facility near Little Rock, Arkansas at negotiated prices.

Summary of long-lived assets and revenues by geographic area

All of FutureFuel’s long-lived assets are located in the U.S.

Most of FutureFuel’s sales are transacted with title passing at the time of shipment from the Batesville Plant, although some sales are transacted based on title passing at the delivery point.  While many of FutureFuel’s chemicals are utilized to manufacture products that are shipped, further processed, and/or consumed throughout the world, the chemical products, with limited exceptions, generally leave the United States only after ownership has transferred from FutureFuel to the customer.  Rarely is FutureFuel the exporter of record, never is FutureFuel the importer of record into foreign countries, and FutureFuel is not always aware of the exact quantities of its products that are moved into foreign markets by its customers.  FutureFuel does track the addresses of its customers for invoicing purposes and uses this address to determine whether a particular sale is within or without the United States.  FutureFuel’s revenues attributable to the United States and foreign countries (based upon the billing addresses of its customers) were as follows:

Three Months Ended
 
United States
   
All Foreign Countries
   
Total
 
March 31, 2012
  $ 81,144     $ 4,583     $ 85,727  
March 31, 2011
  $ 51,577     $ 3,664     $ 55,241  

For the three months ended March 31, 2012 and 2011, revenues from Mexico accounted for 5% and 6%, respectively, of total revenues. Other than Mexico, revenues from a single foreign country during the three months ended March 31, 2012 and 2011 did not exceed 1% of total revenues.

Summary of business by segment

   
For the three months ended March 31,
 
   
2012
   
2011
 
Revenues
           
Chemicals
  $ 38,409     $ 44,695  
Biofuels
    47,318       10,546  
Total Revenues
  $ 85,727     $ 55,241  
                 
Segment gross profit
               
Chemicals
  $ 11,669     $ 7,774  
Biofuels
    1,132       (2,775 )
Segment gross profit
    12,801       4,999  
Corporate expenses
    (2,218 )     (1,779 )
Income before interest and taxes
    10,583       3,220  
Investment income
    1,454       871  
Interest and other expense
    (58 )     (139 )
Provision for income taxes
    (4,866 )     (1,236 )
Net income
  $ 7,113     $ 2,716  

Depreciation is allocated to segment costs of goods sold based on plant usage. The total assets and capital expenditures of FutureFuel have not been allocated to individual segments as large portions of these assets are shared to varying degrees by each segment, causing such an allocation to be of little value.