| Effects of the Restatement |
The effects of the restatement are as follows:
| |
|
September 30, 2016 |
|
| |
|
(unaudited) |
|
| |
|
As Reported |
|
|
As Restated |
|
| |
|
(thousands of dollars) |
|
Consolidated Balance Sheets |
|
|
|
|
|
|
Investment in AMAK |
|
$ |
52,776 |
|
|
$ |
53,127 |
|
Total Assets |
|
|
283,155 |
|
|
|
283,506 |
|
Deferred Income Taxes |
|
|
22,817 |
|
|
|
22,941 |
|
Total Liabilities |
|
|
118,829 |
|
|
|
118,953 |
|
Retained Earnings |
|
|
109,066 |
|
|
|
109,293 |
|
Total Trecora Resources Stockholders’ Equity |
|
|
164,037 |
|
|
|
164,264 |
|
Total Equity |
|
|
164,326 |
|
|
|
164,553 |
|
Total Liabilities and Equity |
|
|
283,155 |
|
|
|
283,506 |
|
| |
|
Three Months Ended
September 30, 2016
|
|
|
Nine Months Ended
September 30, 2016
|
|
| |
|
(unaudited) |
|
| |
|
As Reported |
|
|
As Restated |
|
|
As Reported |
|
|
As Restated |
|
| |
|
(thousands of dollars) |
|
Consolidated Statements of Income |
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings (losses) of AMAK |
|
$ |
(2,089 |
) |
|
$ |
(2,089 |
) |
|
$ |
5,079 |
|
|
$ |
2,261 |
|
Gain on Additional Equity Issuance by AMAK |
|
|
- |
|
|
|
3,168 |
|
|
|
- |
|
|
|
3,168 |
|
Total other income (expense) |
|
|
(2,729 |
) |
|
|
439 |
|
|
|
14,863 |
|
|
|
15,213 |
|
Income before income taxes |
|
|
1,399 |
|
|
|
4,567 |
|
|
|
31,032 |
|
|
|
31,382 |
|
Income tax expense |
|
|
659 |
|
|
|
1,768 |
|
|
|
10,984 |
|
|
|
11,107 |
|
Net income attributable to Trecora Resources |
|
|
740 |
|
|
|
2,799 |
|
|
|
20,048 |
|
|
|
20,275 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share (dollars) |
|
$ |
0.03 |
|
|
$ |
0.12 |
|
|
$ |
0.82 |
|
|
$ |
0.83 |
|
Diluted earnings per common share (dollars) |
|
$ |
0.03 |
|
|
$ |
0.11 |
|
|
$ |
0.80 |
|
|
$ |
0.81 |
|
| |
|
September 30, 2016 |
|
| |
|
(unaudited) |
|
| |
|
As Reported |
|
|
As Restated |
|
| |
|
(thousands of dollars) |
|
Consolidated Statement of Stockholders’ Equity |
|
|
|
|
|
|
Net Income |
|
$ |
20,048 |
|
|
$ |
20,275 |
|
Retained Earnings |
|
|
109,066 |
|
|
|
109,293 |
|
Total |
|
|
164,037 |
|
|
|
164,264 |
|
Total Equity |
|
|
164,326 |
|
|
|
164,553 |
|
Consolidated Statements of Cash Flows |
|
|
|
|
|
|
Operating Activities |
|
|
|
|
|
|
Net income |
|
$ |
20,048 |
|
|
$ |
20,275 |
|
Deferred income taxes |
|
|
6,728 |
|
|
|
6,851 |
|
Equity in (earnings) loss of AMAK |
|
|
(5,079 |
) |
|
|
(2,261 |
) |
Gain on Additional Equity Issuance by AMAK |
|
|
- |
|
|
|
(3,168 |
) |
|