Guarantor Subsidiaries (Tables) | 3 Months Ended |
Mar. 31, 2014 |
Guarantor Subsidiaries [Abstract] | ' |
Consolidating Balance Sheet | ' |
CONSOLIDATING BALANCE SHEET |
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(Thousands of dollars) | | | | | | | | | | | | | | | | | | |
| 31-Mar-14 |
Assets | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Current assets | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | - | | $ | 368,629 | | $ | - | | $ | 795 | | $ | - | | $ | 369,424 |
Accounts receivable—trade, less allowance for doubtful accounts of $4,456 in 2014 | | | - | | | 210,493 | | | - | | | 1,847 | | | - | | | 212,340 |
Inventories, at lower of cost or market | | | - | | | 70,160 | | | - | | | 18,740 | | | - | | | 88,900 |
Prepaid expenses and other current assets | | | - | | | 13,447 | | | - | | | 2,216 | | | - | | | 15,663 |
Total current assets | | | - | | | 662,729 | | | - | | | 23,598 | | | - | | | 686,327 |
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Property, plant and equipment, at cost less accumulated depreciation and amortization of $673,764 in 2014 | | | - | | | 1,192,522 | | | - | | | 1,851 | | | - | | | 1,194,373 |
Investments in subsidiaries | | | 1,336,414 | | | 156,362 | | | - | | | - | | | -1,492,776 | | | - |
Deferred charges and other assets | | | - | | | 7,467 | | | - | | | 798 | | | - | | | 8,265 |
Total assets | | $ | 1,336,414 | | $ | 2,019,080 | | $ | - | | $ | 26,247 | | $ | -1,492,776 | | $ | 1,888,965 |
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Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | - | | $ | 16,500 | | $ | - | | $ | - | | $ | - | | $ | 16,500 |
Inter-company accounts payable | | | - | | | 125,069 | | | -52,071 | | | -72,998 | | | - | | | - |
Trade accounts payable and accrued liabilities | | | - | | | 482,625 | | | - | | | 5,145 | | | - | | | 487,770 |
Income taxes payable | | | - | | | 31,629 | | | 8 | | | 305 | | | - | | | 31,942 |
Deferred income taxes | | | - | | | 7,789 | | | - | | | - | | | - | | | 7,789 |
Total current liabilities | | | - | | | 663,612 | | | -52,063 | | | -67,548 | | | - | | | 544,001 |
Long-term debt | | | - | | | 530,295 | | | - | | | - | | | - | | | 530,295 |
Deferred income taxes | | | - | | | 122,878 | | | - | | | -12,502 | | | - | | | 110,376 |
Asset retirement obligations | | | - | | | 17,605 | | | - | | | - | | | - | | | 17,605 |
Deferred credits and other liabilities | | | - | | | 18,508 | | | - | | | - | | | - | | | 18,508 |
Total liabilities | | | - | | | 1,352,898 | | | -52,063 | | | -80,050 | | | - | | | 1,220,785 |
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Stockholders' Equity | | | | | | | | | | | | | | | | | | |
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Preferred Stock, par $0.01, (authorized 20,000,000 shares, none outstanding) | | | - | | | - | | | - | | | - | | | - | | | - |
Common Stock, par $0.01, (authorized 200,000,000 shares, 46,756,190 shares issued and outstanding at March 31, 2014) | | | 468 | | | 1 | | | 60 | | | - | | | -61 | | | 468 |
Additional paid in capital (APIC) | | | 1,228,370 | | | 550,968 | | | 52,004 | | | 35,677 | | | -1,316,516 | | | 550,503 |
Retained earnings | | | 107,576 | | | 115,213 | | | -1 | | | 70,620 | | | -176,199 | | | 117,209 |
Total stockholders' equity | | | 1,336,414 | | | 666,182 | | | 52,063 | | | 106,297 | | | -1,492,776 | | | 668,180 |
Total liabilities and stockholders' equity | | $ | 1,336,414 | | $ | 2,019,080 | | $ | - | | $ | 26,247 | | $ | -1,492,776 | | $ | 1,888,965 |
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CONSOLIDATING BALANCE SHEET |
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(Thousands of dollars) | | | | | | | | | | | | | | | | | | |
| 31-Dec-13 |
Assets | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Combined |
Current assets | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | - | | $ | 294,741 | | $ | - | | $ | - | | $ | - | | $ | 294,741 |
Accounts receivable—trade, less allowance for doubtful accounts of $4,456 in 2013 | | | - | | | 191,904 | | | - | | | 1,277 | | | - | | | 193,181 |
Inventories, at lower of cost or market | | | - | | | 157,795 | | | - | | | 21,260 | | | - | | | 179,055 |
Prepaid expenses and other current assets | | | - | | | 12,217 | | | - | | | 3,222 | | | - | | | 15,439 |
Total current assets | | | - | | | 656,657 | | | - | | | 25,759 | | | - | | | 682,416 |
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Property, plant and equipment, at cost less accumulated depreciation and amortization of $655,360 in 2013 | | | - | | | 1,189,082 | | | - | | | 1,641 | | | - | | | 1,190,723 |
Investments in subsidiaries | | | 1,228,837 | | | - | | | - | | | - | | | -1,228,837 | | | - |
Deferred charges and other assets | | | - | | | 95,604 | | | - | | | 239 | | | -87,740 | | | 8,103 |
Total assets | | $ | 1,228,837 | | $ | 1,941,343 | | $ | - | | $ | 27,639 | | $ | -1,316,577 | | $ | 1,881,242 |
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Liabilities and Stockholders' Equity | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | - | | $ | 14,000 | | $ | - | | $ | - | | $ | - | | $ | 14,000 |
Inter-company accounts payable | | | - | | | 119,366 | | | -52,107 | | | -67,259 | | | - | | | - |
Trade accounts payable and accrued liabilities | | | - | | | 429,763 | | | - | | | 3,465 | | | - | | | 433,228 |
Income taxes payable | | | - | | | 71,450 | | | 43 | | | 653 | | | - | | | 72,146 |
Deferred income taxes | | | - | | | 7,143 | | | - | | | - | | | - | | | 7,143 |
Total current liabilities | | | - | | | 641,722 | | | -52,064 | | | -63,141 | | | - | | | 526,517 |
Long-term debt | | | - | | | 547,578 | | | - | | | - | | | - | | | 547,578 |
Deferred income taxes | | | - | | | 128,451 | | | - | | | -13,519 | | | - | | | 114,932 |
Asset retirement obligations | | | - | | | 17,130 | | | - | | | - | | | - | | | 17,130 |
Deferred credits and other liabilities | | | - | | | 18,749 | | | - | | | - | | | - | | | 18,749 |
Total liabilities | | | - | | | 1,353,630 | | | -52,064 | | | -76,660 | | | - | | | 1,224,906 |
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Stockholders' Equity | | | | | | | | | | | | | | | | | | |
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Preferred Stock, par $0.01, (authorized 20,000,000 shares, none outstanding) | | | - | | | - | | | - | | | - | | | - | | | - |
Common Stock, par $0.01, (authorized 200,000,000 shares, 46,746,633 shares issued and outstanding at December 31, 2013) | | | 467 | | | 1 | | | 60 | | | - | | | -61 | | | 467 |
Additional paid in capital (APIC) | | | 1,228,370 | | | 548,758 | | | 52,004 | | | 35,677 | | | -1,316,516 | | | 548,293 |
Retained earnings | | | - | | | 38,954 | | | - | | | 68,622 | | | - | | | 107,576 |
Total stockholders' equity | | | 1,228,837 | | | 587,713 | | | 52,064 | | | 104,299 | | | -1,316,577 | | | 656,336 |
Total liabilities and stockholders' equity | | $ | 1,228,837 | | $ | 1,941,343 | | $ | - | | $ | 27,639 | | $ | -1,316,577 | | $ | 1,881,242 |
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Consolidating Income Statement | ' |
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CONSOLIDATING INCOME STATEMENT |
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(Thousands of dollars except per share amounts) | Three Months Ended March 31, 2014 |
Revenues | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Petroleum product sales | | $ | - | | $ | 3,634,271 | | $ | - | | $ | - | | $ | -39,924 | | $ | 3,594,347 |
Merchandise sales | | | - | | | 502,722 | | | - | | | - | | | - | | | 502,722 |
Ethanol sales and other | | | - | | | 18,476 | | | - | | | 48,789 | | | - | | | 67,265 |
Total revenues | | $ | - | | $ | 4,155,469 | | $ | - | | $ | 48,789 | | $ | -39,924 | | $ | 4,164,334 |
Costs and operating expenses | | | | | | | | | | | | | | | | | | |
Petroleum product cost of goods sold | | | - | | | 3,540,270 | | | - | | | - | | | -39,924 | | | 3,500,346 |
Merchandise cost of goods sold | | | - | | | 432,462 | | | - | | | - | | | - | | | 432,462 |
Ethanol cost of goods sold | | | - | | | - | | | - | | | 37,770 | | | - | | | 37,770 |
Station and other operating expenses | | | - | | | 113,815 | | | - | | | 8,662 | | | - | | | 122,477 |
Depreciation and amortization | | | - | | | 19,634 | | | - | | | 27 | | | - | | | 19,661 |
Selling, general and administrative | | | - | | | 27,625 | | | 1 | | | 445 | | | - | | | 28,071 |
Accretion of asset retirement obligations | | | - | | | 297 | | | - | | | - | | | - | | | 297 |
Total costs and operating expenses | | | - | | | 4,134,103 | | | 1 | | | 46,904 | | | -39,924 | | | 4,141,084 |
Income from operations | | $ | - | | $ | 21,366 | | $ | -1 | | $ | 1,885 | | $ | - | | $ | 23,250 |
Other income (expense) | | | | | | | | | | | | | | | | | | |
Interest income | | | - | | | 15 | | | - | | | - | | | - | | | 15 |
Interest expense | | | - | | | -9,095 | | | - | | | - | | | - | | | -9,095 |
Gain on sale of assets | | | - | | | 170 | | | - | | | - | | | - | | | 170 |
Other nonoperating income | | | - | | | 112 | | | - | | | - | | | - | | | 112 |
Total other income (expense) | | $ | - | | $ | -8,798 | | $ | - | | $ | - | | $ | - | | $ | -8,798 |
Income from continuing operations before income taxes | | | - | | | 12,568 | | | -1 | | | 1,885 | | | - | | | 14,452 |
Income tax expense | | | - | | | 4,932 | | | - | | | 668 | | | - | | | 5,600 |
Income from continuing operations | | | - | | | 7,636 | | | -1 | | | 1,217 | | | - | | | 8,852 |
Income from discontinued operations, net of taxes | | | - | | | - | | | - | | | 781 | | | - | | | 781 |
Net Income | | $ | - | | $ | 7,636 | | $ | -1 | | $ | 1,998 | | $ | - | | $ | 9,633 |
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COMBINING INCOME STATEMENT |
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(Thousands of dollars except per share amounts) | Three Months Ended March 31, 2013 |
Revenues | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Combined |
Petroleum product sales | | $ | - | | $ | 3,810,772 | | $ | - | | $ | - | | $ | -48,160 | | $ | 3,762,612 |
Merchandise sales | | | - | | | 515,469 | | | - | | | - | | | - | | | 515,469 |
Ethanol sales and other | | | - | | | 14,065 | | | - | | | 65,846 | | | - | | | 79,911 |
Total revenues | | $ | - | | $ | 4,340,306 | | $ | - | | $ | 65,846 | | $ | -48,160 | | $ | 4,357,992 |
Costs and operating expenses | | | | | | | | | | | | | | | | | | |
Petroleum product cost of goods sold | | | - | | | 3,689,390 | | | - | | | - | | | -48,160 | | | 3,641,230 |
Merchandise cost of goods sold | | | - | | | 448,796 | | | - | | | - | | | - | | | 448,796 |
Ethanol cost of goods sold | | | | | | - | | | - | | | 61,705 | | | - | | | 61,705 |
Station and other operating expenses | | | - | | | 113,507 | | | - | | | 7,463 | | | - | | | 120,970 |
Depreciation and amortization | | | - | | | 18,061 | | | - | | | 10 | | | - | | | 18,071 |
Selling, general and administrative | | | - | | | 31,127 | | | 1 | | | 1,104 | | | - | | | 32,232 |
Accretion of asset retirement obligations | | | - | | | 269 | | | - | | | - | | | - | | | 269 |
Total costs and operating expenses | | | - | | | 4,301,150 | | | 1 | | | 70,282 | | | -48,160 | | | 4,323,273 |
Income from operations | | $ | - | | $ | 39,156 | | $ | -1 | | $ | -4,436 | | $ | - | | $ | 34,719 |
Other income (expense) | | | | | | | | | | | | | | | | | | |
Interest income | | | - | | | 281 | | | - | | | - | | | - | | | 281 |
Interest expense | | | - | | | -127 | | | - | | | - | | | - | | | -127 |
Gain on sale of assets | | | - | | | 8 | | | - | | | - | | | - | | | 8 |
Other nonoperating income | | | - | | | 17 | | | - | | | - | | | - | | | 17 |
Total other income (expense) | | $ | - | | $ | 179 | | $ | - | | $ | - | | $ | - | | $ | 179 |
Income from continuing operations before income taxes | | | - | | | 39,335 | | | -1 | | | -4,436 | | | - | | | 34,898 |
Income tax expense | | | - | | | 15,867 | | | - | | | -1,523 | | | - | | | 14,344 |
Income from continuing operations | | | - | | | 23,468 | | | -1 | | | -2,913 | | | - | | | 20,554 |
Income from discontinued operations, net of taxes | | | - | | | - | | | - | | | 1,493 | | | - | | | 1,493 |
Net Income | | $ | - | | $ | 23,468 | | $ | -1 | | $ | -1,420 | | $ | - | | $ | 22,047 |
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Consolidating Statement Of Cash Flow | ' |
CONSOLIDATING STATEMENT OF CASH FLOW |
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(Thousands of dollars) | Three Months Ended March 31, 2014 |
Operating Activities | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Net income | | $ | - | | $ | 7,636 | | $ | -1 | | $ | 1,998 | | $ | - | | $ | 9,633 |
Adjustments to reconcile net income to net cash provided by operating activities | | | | | | | | | | | | | | | | | | |
(Income) loss from discontinued operations, net of tax | | | - | | | - | | | - | | | -781 | | | - | | | -781 |
Depreciation and amortization | | | - | | | 19,634 | | | - | | | 27 | | | - | | | 19,661 |
Amortization of deferred major repair costs | | | - | | | | | | - | | | 169 | | | - | | | 169 |
Deferred and noncurrent income tax charges (credits) | | | - | | | -5,573 | | | - | | | 1,017 | | | - | | | -4,556 |
Accretion on discounted liabilities | | | - | | | 297 | | | - | | | - | | | - | | | 297 |
Pretax gains from sale of assets | | | - | | | -170 | | | - | | | - | | | - | | | -170 |
Net decrease in noncash operating working capital | | | - | | | 80,464 | | | - | | | 4,288 | | | - | | | 84,752 |
Other operating activities-net | | | - | | | 3,698 | | | - | | | - | | | - | | | 3,698 |
Net cash provided by (required by) continuing operations | | | - | | | 105,986 | | | -1 | | | 6,718 | | | - | | | 112,703 |
Net cash provided by discontinued operations | | | - | | | - | | | - | | | 134 | | | - | | | 134 |
Net cash provided by (required by) operating activities | | | - | | | 105,986 | | | -1 | | | 6,852 | | | - | | | 112,837 |
Investing Activities | | | | | | | | | | | | | | | | | | |
Property additions | | | - | | | -23,501 | | | - | | | -238 | | | - | | | -23,739 |
Proceeds from sale of assets | | | - | | | 279 | | | - | | | - | | | - | | | 279 |
Expenditures for major repairs | | | - | | | - | | | - | | | -728 | | | - | | | -728 |
Investing activities of discontinued operations | | | | | | | | | | | | | | | | | | |
Sales proceeds | | | - | | | - | | | - | | | 1,097 | | | - | | | 1,097 |
Other | | | - | | | - | | | - | | | - | | | - | | | - |
Net cash provided by (required by) investing activities | | | - | | | -23,222 | | | - | | | 131 | | | - | | | -23,091 |
Financing Activities | | | | | | | | | | | | | | | | | | |
Repayments of long-term debt | | | - | | | -15,000 | | | - | | | - | | | - | | | -15,000 |
Debt issuance costs | | | | | | -63 | | | | | | | | | | | | -63 |
Net distributions to parent | | | - | | | 6,187 | | | 1 | | | -6,188 | | | - | | | - |
Net cash provided by (required by) financing activities | | | - | | | -8,876 | | | 1 | | | -6,188 | | | - | | | -15,063 |
Net increase in cash and cash equivalents | | | - | | | 73,888 | | | - | | | 795 | | | - | | | 74,683 |
Cash and cash equivalents at January 1 | | | - | | | 294,741 | | | - | | | - | | | - | | | 294,741 |
Cash and cash equivalents at March 31 | | $ | - | | $ | 368,629 | | $ | - | | $ | 795 | | $ | - | | $ | 369,424 |
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COMBINING STATEMENT OF CASH FLOW |
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(Thousands of dollars) | Three Months Ended March 31, 2013 |
Operating Activities | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Combined |
Net income | | $ | - | | $ | 23,468 | | $ | -1 | | $ | -1,420 | | $ | - | | $ | 22,047 |
Adjustments to reconcile net income to net cash provided by operating activities | | | | | | | | | | | | | | | | | | |
(Income) loss from discontinued operations, net of tax | | | - | | | - | | | - | | | -1,493 | | | - | | | -1,493 |
Depreciation and amortization | | | - | | | 18,061 | | | - | | | 10 | | | - | | | 18,071 |
Amortization of deferred major repair costs | | | - | | | - | | | - | | | 133 | | | - | | | 133 |
Deferred and noncurrent income tax charges (credits) | | | - | | | -2,349 | | | - | | | 1,077 | | | - | | | -1,272 |
Accretion on discounted liabilities | | | - | | | 269 | | | - | | | - | | | - | | | 269 |
Pretax gains from sale of assets | | | - | | | -8 | | | - | | | - | | | - | | | -8 |
Net decrease in noncash operating working capital | | | - | | | 42,840 | | | - | | | 12,365 | | | - | | | 55,205 |
Other operating activities-net | | | - | | | -178 | | | - | | | - | | | - | | | -178 |
Net cash provided by (required by) continuing operations | | | - | | | 82,103 | | | -1 | | | 10,672 | | | - | | | 92,774 |
Net cash required by discontinued operations | | | - | | | - | | | - | | | -1,335 | | | | | | -1,335 |
Net cash provided by (required by) operating activities | | | - | | | 82,103 | | | -1 | | | 9,337 | | | - | | | 91,439 |
Investing Activities | | | | | | | | | | | | | | | | | | |
Property additions | | | - | | | -66,536 | | | - | | | -937 | | | - | | | -67,473 |
Proceeds from sale of assets | | | - | | | 22 | | | - | | | - | | | - | | | 22 |
Expenditures for major repairs | | | - | | | - | | | - | | | -280 | | | - | | | -280 |
Investing activities of discontinued operations | | | | | | | | | | | | | | | | | | |
Sales proceeds | | | - | | | - | | | - | | | - | | | - | | | - |
Other | | | - | | | - | | | - | | | -40 | | | - | | | -40 |
Net cash required by investing activities | | | - | | | -66,514 | | | - | | | -1,257 | | | - | | | -67,771 |
Financing Activities | | | | | | | | | | | | | | | | | | |
Repayments of long-term debt | | | - | | | - | | | - | | | -12 | | | - | | | -12 |
Debt issuance costs | | | - | | | - | | | - | | | - | | | - | | | - |
Net distributions to parent | | | - | | | 1,360 | | | 1 | | | -8,068 | | | - | | | -6,707 |
Net cash provided by (required by) financing activities | | | - | | | 1,360 | | | 1 | | | -8,080 | | | - | | | -6,719 |
Net increase in cash and cash equivalents | | | - | | | 16,949 | | | - | | | - | | | - | | | 16,949 |
Cash and cash equivalents at January 1 | | | - | | | 57,373 | | | - | | | - | | | - | | | 57,373 |
Cash and cash equivalents at March 31 | | $ | - | | $ | 74,322 | | $ | - | | $ | - | | $ | - | | $ | 74,322 |
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Consolidating Statement Of Changes In Equity | ' |
CONSOLIDATING STATEMENT OF CHANGES IN EQUITY |
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(Thousands of dollars) | | Three Months Ended March 31, 2014 |
Statement of Stockholders' Equity/Net Parent Investment | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
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Common Stock | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2013 | | $ | 467 | | $ | 1 | | $ | 60 | | $ | - | | $ | -61 | | $ | 467 |
Issuance of common stock | | | 1 | | | - | | | - | | | - | | | - | | | 1 |
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Balance as of March 31, 2014 | | $ | 468 | | $ | 1 | | $ | 60 | | $ | - | | $ | -61 | | $ | 468 |
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APIC | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2013 | | $ | 1,228,370 | | $ | 548,758 | | $ | 52,004 | | $ | 35,677 | | $ | -1,316,516 | | $ | 548,293 |
Issuance of common stock | | | - | | | -312 | | | - | | | - | | | - | | | -312 |
Share-based compensation expense | | | - | | | 2,522 | | | - | | | - | | | - | | | 2,522 |
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Balance as of March 31, 2014 | | $ | 1,228,370 | | $ | 550,968 | | $ | 52,004 | | $ | 35,677 | | $ | -1,316,516 | | $ | 550,503 |
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Net Parent Investment | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2013 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
Net income | | | - | | | - | | | - | | | - | | | - | | | - |
Net transfers to/between former parent | | | - | | | - | | | - | | | - | | | - | | | - |
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Balance as of March 31, 2014 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
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Retained Earnings | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2013 | | $ | - | | $ | 38,954 | | $ | - | | $ | 68,622 | | $ | - | | $ | 107,576 |
Net income | | | 107,576 | | | 76,259 | | | -1 | | | 1,998 | | | -176,199 | | | 9,633 |
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Balance as of March 31, 2014 | | $ | 107,576 | | $ | 115,213 | | $ | -1 | | $ | 70,620 | | $ | -176,199 | | $ | 117,209 |
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COMBINING STATEMENT OF CHANGES IN EQUITY |
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(Thousands of dollars) | | Three Months Ended March 31, 2013 |
Statement of Stockholders' Equity/Net Parent Investment | | Parent Company | | Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
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Common Stock | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
Issuance of common stock | | | - | | | - | | | - | | | - | | | - | | | - |
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Balance as of March 31, 2013 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
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APIC | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
Issuance of common stock | | | - | | | - | | | - | | | - | | | - | | | - |
Share-based compensation expense | | | - | | | - | | | - | | | - | | | - | | | - |
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Balance as of March 31, 2013 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
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Net Parent Investment | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | $ | - | | $ | 1,123,467 | | $ | 53,895 | | $ | 117,550 | | $ | -190,461 | | $ | 1,104,451 |
Net income | | | - | | | 23,467 | | | - | | | -1,420 | | | - | | | 22,047 |
Net transfers to/between former parent | | | - | | | -5,552 | | | - | | | - | | | - | | | -5,552 |
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Balance as of March 31, 2013 | | $ | - | | $ | 1,141,382 | | $ | 53,895 | | $ | 116,130 | | $ | -190,461 | | $ | 1,120,946 |
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Retained Earnings | | | | | | | | | | | | | | | | | | |
Balance as of December 31, 2012 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
Net income | | | - | | | - | | | - | | | - | | | - | | | - |
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Balance as of March 31, 2013 | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - |
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