Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN AMAK AND DISCONTINUED OPERATIONS (Tables)

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INVESTMENT IN AMAK AND DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Disposal Groups, Including Discontinued Operations
Included in discontinued operations for 2020 are the following:
  Three Months Ended
June 30, 2020		 Six Months Ended
June 30, 2020
  (thousands of dollars)
Saudi administration (income) expenses $ (97) $ (114)
Equity in (earnings) losses of AMAK (306) 226 
Gain on sale of equity interest —  (6,663)
Income from discontinued operations before taxes (403) (6,551)
Tax expense 405  1,696 
(Income) loss from discontinued operations, net of tax $ 2  $ (4,855)
Summarized Results of Operation and Financial Position for AMAK
The summarized results of operations and financial position for 2020 for AMAK are as follows:
Results of Operations
  Three Months Ended
June 30, 2020		 Six Months Ended
June 30, 2020
  (thousands of dollars)
Sales $ 20,752  $ 38,689 
Cost of sales 17,829  34,650 
Gross profit 2,923  4,039 
Selling, general, and administrative 2,362  5,042 
Operating income (loss) 561  (1,003)
Other income —  17 
Finance and interest expense (103) (634)
Income (loss) before Zakat and income taxes 458  (1,620)
Zakat and income tax (benefit) 566  1,099 
Net Income (Loss) $ (108) $ (2,719)
Financial Position
  December 31, 2020
  (thousands of dollars)
Current assets $ 29,799 
Noncurrent assets 209,814 
Total assets $ 239,613 
Current liabilities $ 40,919 
Long term liabilities 79,122 
Stockholders' equity 119,572 
  $ 239,613 
Summary of Operating Results and Financial Position for Equity Method Investments
The equity in the earnings (losses) of AMAK included in income (loss) from discontinued operations, net of tax, on the condensed consolidated statements of operations for the three and six months ended June 30, 2020, is comprised of the following:
  Three Months Ended
June 30, 2020		 Six Months Ended
June 30, 2020
  (thousands of dollars)
AMAK Net Loss (108) (2,719)
Company's share of loss reported by AMAK* (429) (824)
Amortization of difference between Company's investment in AMAK and Company's share of net assets of AMAK 337  674 
Equity in losses of AMAK (92) (150)
* Percentage of Ownership varies during the period.