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BASIS OF PRESENTATION
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3 Months Ended |
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Mar. 31, 2013
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| BASIS OF PRESENTATION [Abstract] | |
| BASIS OF PRESENTATION |
1. BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements should be read in conjunction with the Company's 2012 Annual Report on Form 10-K. In the opinion of the management of Arabian American Development Company (the "Company"), these statements include all adjustments, which are of a normal recurring nature, necessary to present a fair statement of the Company's financial position at March 31, 2013, and the results of operations and cash flows for the three months ended March 31, 2013, and 2012. Unless the context requires otherwise, references to "we," "us," "our," and the "Company" are intended to mean consolidated Arabian American Development Company and its subsidiaries.
Operating results for the three months ended March 31, 2013, are not necessarily indicative of results for the year ending December 31, 2013.
We operate in one segment and all revenue originates from United States' sources and all long-lived assets owned are located in the United States.
The Company currently owns a 37% interest in Al Masane Al Kobra Mining Company ("AMAK"), a Saudi Arabian closed joint stock company which owns and is developing mining assets in Saudi Arabia. However as discussed in Note 14, upon completion of the AMAK capital raise that is in process, our ownership percentage in AMAK will be approximately 35.25%. We account for our investment under the equity method of accounting. The Company records the equity in earnings from AMAK one quarter in arrears.
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