Segments.

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

SEGMENTS.

3. SEGMENTS.

The Company reports its financial and operating performance in three segments: (1) marketing and distribution, which includes marketing and merchant trading for Company-produced alcohols and essential ingredients on an aggregated basis, and third-party fuel-grade ethanol (2) Pekin production, which includes the production and sale of alcohols and essential ingredients produced at the Company’s Pekin, Illinois campus (“Pekin Campus”), and (3) Other production, which includes the production and sale of fuel-grade ethanol and essential ingredients produced at all of the Company’s other production facilities on an aggregated basis (“Other production”), none of which are individually so significant as to be considered a reportable segment.

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

	Three Months Ended March 31,
Net Sales	2021			2020
Marketing and distribution:
Alcohol sales, gross	$	57,010		$	57,506
Alcohol sales, net		452			429
Intersegment sales		2,244			4,315
Total marketing and distribution sales		59,706			62,250
Pekin Campus production, recorded as gross:
Alcohol sales	$	95,083		$	84,132
Essential ingredient sales		45,077			39,870
Intersegment sales		9,985			2,332
Total Pekin Campus sales		150,145			126,334
Other production, recorded as gross:
Alcohol sales	$	15,969		$	99,230
Essential ingredient sales		5,143			30,237
Intersegment sales		305			291
Total Other production sales		21,417			129,758
Intersegment eliminations		(12,534	)		(6,938	)
Net sales as reported	$	218,734		$	311,404

Cost of goods sold:
Marketing and distribution	$	53,957		$	57,139
Pekin Campus production		137,376			128,683
Other production		24,118			142,310
Intersegment eliminations		(10,554	)		(3,838	)
Cost of goods sold as reported	$	204,897		$	324,294

Income (loss) before benefit for income taxes:
Marketing and distribution	$	3,973		$	2,930
Pekin Campus production		9,691			(6,849	)
Other production		(5,137	)		(16,621	)
Corporate activities		(2,904	)		(2,562	)
	$	5,623		$	(23,102	)
Depreciation:
Pekin Campus production	$	4,345		$	5,130
Other production		1,498			4,530
Corporate activities		17			99
	$	5,860		$	9,759

Interest expense:
Marketing and distribution	$	202	$	627
Pekin Campus production		519		2,084
Other production		136		32
Corporate activities		1,028		2,564
	$	1,885	$	5,307

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

	March 31,		December 31,
Total assets:	2021		2020
Marketing and distribution	$	119,546	$	89,337
Pekin Campus production		238,370		234,439
Other production		120,351		102,409
Corporate assets		22,849		50,633
	$	501,116	$	476,818