Goodwill

12 Months Ended

Dec. 31, 2011

Goodwill [Abstract]

Goodwill

4. GOODWILL

     Changes in the carrying amount of goodwill attributable to each business segment during the years ended December 31, 2011 and 2010 were as follows (in thousands):

	Ethanol Production		Marketing and Distribution		Total
Balance, December 31, 2009	$	3,945	$	10,598	$	14,543
Acquisiton of Global Ethanol		8,582		-		8,582
Balance, December 31, 2010		12,527		10,598		23,125
Adjustment to Global purchase price allocation		15,152		-		15,152
Acquisition of Otter Tail		2,600		-		2,600
Balance, December 31, 2011	$	30,279	$	10,598	$	40,877

     Revisions were made during 2011 to the preliminary purchase price allocation for the acquisition of Global Ethanol. The revisions resulted in a reduction of net property and equipment and an increase in goodwill of $15.2 million. Goodwill related to the acquisition is tax deductible and results largely from economies of scale expected to be realized in the Company's operations.