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
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
OPERATING ACTIVITIES    
Net Income $ 2,599 $ 4,786
Adjustments to Reconcile Net Income of Arabian American Development Company To Net Cash Provided by (Used in) Operating Activities:    
Depreciation 1,004 954
Amortization of Contractual Based Intangible Asset 63 63
Accretion of Notes Receivable Discounts (9) (1)
Unrealized Loss on Derivative Instruments (48) 0
Stock-based Compensation 425 267
Deferred Income Taxes (262) (214)
Postretirement Obligation 2 2
Equity in (earnings) losses of AMAK 350 (2,964)
Changes in Operating Assets and Liabilities:    
Increase in Trade Receivables (2,380) (4,206)
Decrease in Notes Receivable 70 10
Decrease in Income Tax Receivable 280 1,176
(Increase) Decrease in Inventories 86 (2,457)
(Increase) Decrease in Prepaid Expenses 448 (11)
Decrease in Accounts Payable and Accrued Liabilities (559) (427)
Increase (Decrease) in Accrued Interest (9) 7
Increase in Other Liabilities 0 500
Net Cash Provided by (Used in) Operating Activities 2,060 (2,515)
INVESTING ACTIVITIES    
Additions to Plant, Pipeline and Equipment (1,720) (1,492)
Addition to Investment in AMAK 0 (7,500)
Net Cash Used in Investing Activities (1,720) (8,992)
FINANCING ACTIVITIES    
Issuance of Common Stock 95 0
Additions to Long-Term Debt 0 6,000
Repayment of Long-Term Debt (2,350) (350)
Net Cash Provided by (Used in) Financing Activities (2,255) 5,650
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,915) (5,857)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 7,608 9,508
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,693 3,651
Supplemental disclosure of cash flow information:    
Cash payments for interest 183 184
Cash payments for taxes, net of refunds 1,150 0
Supplemental disclosure of non-cash items:    
Capital expansion amortized to depreciation expense 411 270
Unrealized gain on interest rate swap, net of tax expense $ 44 $ 55