Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES    
Net Income $ 1,487 $ 7,224
Adjustments to Reconcile Net Income of Trecora Resources To Net Cash Provided by Operating Activities:    
Depreciation 2,123 1,926
Amortization of Intangible Assets 465 469
Unrealized Gain on Derivative Instruments (24) (30)
Share-based Compensation 633 647
Deferred Income Taxes 1,178 1,407
Postretirement Obligation (2) 2
Equity in (earnings) losses of AMAK 966 (5,367)
Amortization of loan fees 68 68
Changes in Operating Assets and Liabilities:    
(Increase) Decrease in Trade Receivables (2,056) 695
(Increase) Decrease in Taxes Receivable (160) 2,177
(Increase) Decrease in Inventories 2,914 (1,521)
Decrease in Prepaid Expenses and Other Assets 79 180
Increase (Decrease) in Accounts Payable and Accrued Liabilities 989 (1,430)
Increase (Decrease) in Other Liabilities 70 (1,244)
Net Cash Provided by Operating Activities 8,730 5,203
INVESTING ACTIVITIES    
Additions to Plant, Pipeline and Equipment (13,881) (7,602)
Advances to AMAK, net (26) 0
Cash Used in Investing Activities (13,907) (7,602)
FINANCING ACTIVITIES    
Issuance of Common Stock 0 11
Addition to Long-Term Debt 5,000 0
Repayment of Long-Term Debt (4,167) (2,083)
Net Cash Provided by (Used in) Financing Activities 833 (2,072)
NET DECREASE IN CASH AND CASH EQUIVALENTS (4,344) (4,471)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 8,389 18,623
CASH AND CASH EQUIVALENTS AT END OF PERIOD 4,045 14,152
Supplemental disclosure of cash flow information:    
Cash payments for interest 936 583
Cash payments for taxes, net of refunds 0 0
Supplemental disclosure of non-cash items:    
Capital expansion amortized to depreciation expense $ 161 $ 197