SEGMENTS.

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENTS.

3. SEGMENTS.

The Company reports its financial and operating performance in two segments: (1) ethanol production, which includes the production and sale of high quality alcohol, ethanol and co-products, with all of the Company's production facilities aggregated, and (2) marketing and distribution, which includes marketing and merchant trading for Company-produced high quality alcohol, ethanol and co-products and third-party ethanol.

The following tables set forth certain financial data for the Company's operating segments (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Net Sales
Production, recorded as gross:
Ethanol/alcohol sales	$	105,321		$	194,394		$	289,989		$	373,783
Co-product sales		35,328			64,679			104,129			133,485
Intersegment sales		503			421			1,097			784
Total production sales		141,152			259,494			395,215			508,052
Marketing and distribution:
Ethanol/alcohol sales, gross	$	71,118		$	86,754		$	128,624		$	193,908
Ethanol/alcohol sales, net		307			474			736			928
Intersegment sales		893			1,942			2,785			3,760
Total marketing and distribution sales		72,318			89,170			132,145			198,596
Intersegment eliminations		(1,396	)		(2,363	)		(3,882	)		(4,544	)
Net sales as reported	$	212,074		$	346,301		$	523,478		$	702,104
Cost of goods sold:
Production	$	113,196		$	257,187		$	382,857		$	515,782
Marketing and distribution		69,092			87,741			126,211			189,569
Intersegment eliminations		(1,396	)		(2,598	)		(3,882	)		(4,929	)
Cost of goods sold as reported	$	180,892		$	342,330		$	505,186		$	700,422
Income (loss) before benefit for income taxes:
Production	$	17,811		$	(7,117	)	$	(7,219	)	$	(24,683	)
Marketing and distribution		1,664			(129	)		2,605			5,989
Corporate activities		(4,621	)		(1,044	)		(7,688	)		(3,757	)
	$	14,854		$	(8,290	)	$	(12,302	)	$	(22,451	)
Depreciation and amortization:
Production	$	9,034		$	10,199		$	18,540		$	23,557
Corporate activities		79			113			266			358
	$	9,113		$	10,312		$	18,806		$	23,915
Interest expense:
Production	$	1,623		$	2,048		$	3,739		$	3,755
Marketing and distribution		313			774			940			1,362
Corporate activities		2,711			2,293			5,275			4,734
	$	4,647		$	5,115		$	9,954		$	9,851

The following table sets forth the Company's total assets by operating segment (in thousands): 

	June 30, 2020		December 31, 2019
Total assets:
Production	$	397,331	$	492,060
Marketing and distribution		82,868		106,863
Corporate assets		16,930		13,572
	$	497,129	$	612,495