Annual report pursuant to section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 9,508 [1] $ 6,674 [2]
Derivative instruments 0 [1] 393 [2]
Trade receivables, net (Note 7) 15,802 [1] 23,198 [2]
Advance to AMAK (Note 10) 2,162 [1] 120 [2]
Prepaid expenses and other assets 1,561 [1] 562 [2]
Contractual based intangible assets (Note 1) 250 [1] 250 [2]
Inventories (Note 8) 9,840 [1] 9,456 [2]
Deferred income taxes (Note 17) 1,054 [1] 1,169 [2]
Taxes receivable 1,182 [1] 0 [2]
Total current assets 41,359 [1] 41,822 [2]
PLANT, PIPELINE, AND EQUIPMENT - AT COST 68,482 [1] 60,624 [2]
LESS ACCUMULATED DEPRECIATION (28,062) [1] (23,672) [2]
PLANT, PIPELINE, AND EQUIPMENT, NET (Note 9) 40,420 [1] 36,952 [2]
INVESTMENT IN AMAK (Note 10) 37,894 [1] 38,105 [2]
MINERAL PROPERTIES IN THE UNITED STATES (Note 11) 588 [1] 588 [2]
CONTRACTUAL BASED INTANGIBLE ASSETS, net of current portion (Note 1) 104 [1] 355 [2]
OTHER ASSETS 11 [1] 11 [2]
TOTAL ASSETS 120,376 [1] 117,833 [2]
CURRENT LIABILITIES    
Accounts payable 6,306 [1] 5,857 [2]
Accrued interest 96 [1] 116 [2]
Current portion of derivative instruments (Notes 6 and 21) 301 [1] 345 [2]
Accrued liabilities (Note 13) 2,687 [1] 2,944 [2]
Accrued liabilities in Saudi Arabia (Note 14) 140 [1] 140 [2]
Notes payable 12 [1] 12 [2]
Current portion of post-retirement benefit (Note 22) 269 [1] 258 [2]
Current portion of long-term debt (Note 12) 1,500 [1] 1,500 [2]
Current portion of other liabilities 880 [1] 937 [2]
Total current liabilities 12,191 [1] 12,109 [2]
LONG-TERM DEBT, net of current portion (Note 12) 14,239 [1] 22,739 [2]
POST- RETIREMENT BENEFIT, net of current portion (Note 22) 649 [1] 649 [2]
DERIVATIVE INSTRUMENTS, net of current portion (Notes 6 and 21) 592 [1] 789 [2]
OTHER LIABILITIES , net of current portion 379 [1] 1,071 [2]
DEFERRED INCOME TAXES (Note 17) 10,094 [1] 9,394 [2]
Total liabilities 38,144 [1] 46,751 [2]
COMMITMENTS AND CONTINGENCIES (Note 15)    [1]    [2]
EQUITY    
Common Stock - authorized 40 million shares of $.10 par value; issued and outstanding, 23.8 million and 23.7 million shares in 2012 and 2011, respectively 2,381 [1] 2,373 [2]
Additional Paid-in Capital 44,791 [1] 44,138 [2]
Accumulated Other Comprehensive Loss (580) [1] (748) [2]
Retained Earnings 35,351 [1] 25,030 [2]
Total Arabian American Development Company Stockholders' Equity 81,943 [1] 70,793 [2]
Noncontrolling interest 289 [1] 289 [2]
Total equity 82,232 [1] 71,082 [2]
TOTAL LIABILITIES AND EQUITY $ 120,376 [1] $ 117,833 [2]
[1] Restated - see Note 3
[2] Restated - see Note 2