Quarterly report pursuant to sections 13 or 15(d)

CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK (Tables)

CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK (Tables)

6 Months Ended

Jun. 30, 2013

CHANGE IN ACCOUNTING PRINCIPLE FOR INVESTMENT IN AMAK [Abstract]

Schedule of Change in Accounting Principal

The effects of the retrospective application of the equity method of accounting to the three and six months ended June 30, 2012, are as follows:

	Three months ended					Six months ended
	June 30, 2012					June 30, 2012
	As Reported		As Restated			As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Income
Equity in loss of AMAK	$	-	$	(302	)	$	-	$	(515	)
Income before income tax expense		5,352		5,050			8,626		8,111
Net income		3,774		3,472			5,982		5,467
Net income attributable to Arabian American Development Company		3,774		3,472			5,982		5,467
Net income per common share
Basic	$	0.16	$	0.14		$	0.25	$	0.23
Diluted	$	0.15	$	0.14		$	0.24	$	0.22

	Three months ended				Six months ended
	June 30, 2012				June 30, 2012
	As Reported		As Restated		As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Comprehensive Income
Net income	$	3,774	$	3,472	$	5,982	$	5,467
Comprehensive income		3,775		3,473		6,056		5,541

	June 30, 2012
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Cash Flows
Operating activities
Net income attributable to Arabian American Development Company	$	5,982	$	5,467
Equity in loss of AMAK		-		515

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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