Segments

3 Months Ended

Mar. 31, 2022

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 sales (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 renewable fuel 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	2022			2021
Pekin Campus production, recorded as gross:
Alcohol sales	$	116,050		$	95,083
Essential ingredient sales		55,280			45,077
Intersegment sales		256			1,473
Total Pekin Campus sales		171,586			141,633
Marketing and distribution:
Alcohol sales, gross	$	53,926		$	57,010
Alcohol sales, net		351			452
Intersegment sales		2,996			2,244
Total marketing and distribution sales		57,273			59,706
Other production, recorded as gross:
Alcohol sales	$	59,805		$	15,969
Essential ingredient sales		18,938			5,143
Intersegment sales		12			305
Total Other production sales		78,755			21,417
Corporate and other		3,768			—
Intersegment eliminations		(3,264	)		(4,022	)
Net sales as reported	$	308,118		$	218,734

Cost of goods sold:
Pekin Campus	$	168,881		$	128,864
Marketing and distribution		54,716			53,958
Other production		78,244			24,117
Corporate and other		2,872			—
Intersegment eliminations		(1,368	)		(2,042	)
Cost of goods sold as reported	$	303,345		$	204,897

Gross profit (loss):
Pekin Campus production	$	2,705		$	12,769
Marketing and distribution		2,557			5,748
Other production		511			(2,700	)
Corporate and other		896			—
Intersegment eliminations		(1,896	)		(1,980	)
Gross profit (loss) as reported	$	4,773		$	13,837

Income (loss) before provision for income taxes:
Pekin Campus production	$	85		$	10,012
Marketing and distribution		785			3,735
Other production		(1,209	)		(5,945	)
Corporate and other		(2,263	)		(3,124	)
	$	(2,602	)	$	4,678
Depreciation and amortization:
Pekin Campus production	$	4,538		$	4,345
Other production		1,456			1,498
Corporate and other		140			17
	$	6,134		$	5,860
Interest expense:
Pekin Campus production	$	—		$	519
Marketing and distribution		200			202
Other production		—			136
Corporate and other		—			1,028
	$	200		$	1,885

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

	March 31, 2022		December 31, 2021
Total assets:
Pekin Campus production	$	271,771	$	266,197
Marketing and distribution		127,499		130,302
Other production		62,168		57,046
Corporate and other		36,430		31,408
	$	497,868	$	484,953