Quarterly report pursuant to sections 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
OPERATING ACTIVITIES    
Net Income $ 5,982 $ 416
Adjustments to Reconcile Net Income Attributable to Arabian American Development Company To Net Cash Provided by (Used in) Operating Activities:    
Depreciation 1,722 1,604
Amortization of Contractual Based Intangible Asset 125 125
Accretion of Notes Receivable Discounts (1) (1)
Unrealized Loss on Derivative Instruments 2,206 81
Stock-based Compensation 12 426
Deferred Income Taxes (1,165) 22
Postretirement Obligation 5 6
Changes in Operating Assets and Liabilities:    
Increase in Trade Receivables (2,184) (5,720)
(Increase ) Decrease in Notes Receivable (76) 35
Decrease in Income Tax Receivable 0 216
(Increase) Decrease in Inventories 689 (245)
Increase in Prepaid Derivative Settlement (1,500) 0
(Increase) Decrease in Prepaid Expenses (507) 102
Increase in Accounts Payable and Accrued Liabilities 540 2,921
Decrease in Accrued Interest (4) (8)
Decrease in Accrued Liabilities in Saudi Arabia 0 (54)
Increase in Other Liabilities 353 0
Net Cash Provided by (Used in) Operating Activities 6,197 (74)
INVESTING ACTIVITIES    
Additions to Plant, Pipeline and Equipment (3,269) (1,940)
Advance to AMAK (1,523) (800)
Net Cash Used in Investing Activities (4,792) (2,740)
FINANCING ACTIVITIES    
Issuance of Common Stock 146 16
Additions to Long-Term Debt 2,000 3,000
Repayment of Long-Term Debt (4,700) (1,064)
Net Cash Provided by (Used in) Financing Activities (2,554) 1,952
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,149) (862)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 6,674 7,610
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,525 6,748
Supplemental disclosure of cash flow information:    
Cash payments for interest 498 536
Cash payments for taxes, net of (refunds) 2,550 215
Supplemental disclosure of non-cash items:    
Capital expansion amortized to depreciation expense 574 114
Unrealized gain on interest rate swap, net of tax expense $ 74 $ 39