Segments (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Financial Data for Operating Segments

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,
	2023			2022			2023			2022
Net Sales
Pekin Campus, recorded as gross:
Alcohol sales	$	127,694		$	143,768		$	260,075		$	259,818
Essential ingredient sales		53,954			59,853			117,585			115,133
Intersegment sales		444			269			757			525
Total Pekin Campus sales		182,092			203,890			378,417			375,476
Marketing and distribution:
Alcohol sales, gross	$	72,589		$	63,558		$	156,936		$	117,484
Alcohol sales, net		104			317			218			668
Intersegment sales		2,499			3,242			5,342			6,239
Total marketing and distribution sales		75,192			67,117			162,496			124,391
Other production, recorded as gross:
Alcohol sales	$	44,384		$	67,184		$	65,316		$	126,991
Essential ingredient sales		14,421			23,372			22,773			42,309
Intersegment sales		62			—			62			12
Total Other production sales		58,867			90,556			88,151			169,312
Corporate and other		4,151			4,137			8,285			7,904
Intersegment eliminations		(3,005	)		(3,511	)		(6,161	)		(6,776	)
Net sales as reported	$	317,297		$	362,189		$	631,188		$	670,307
Cost of goods sold:
Pekin Campus	$	168,419		$	195,691		$	366,596		$	364,573
Marketing and distribution		71,746			63,796			154,871			118,510
Other production		57,834			91,606			91,815			169,851
Corporate and other		3,414			3,197			5,786			6,070
Intersegment eliminations		(1,297	)		(945	)		(1,897	)		(2,314	)
Cost of goods sold as reported	$	300,116		$	353,345		$	617,171		$	656,690
Gross profit:
Pekin Campus	$	13,673		$	8,199		$	11,821		$	10,903
Marketing and distribution		3,446			3,321			7,625			5,881
Other production		1,033			(1,050	)		(3,664	)		(539	)
Corporate and other		737			940			2,499			1,834
Intersegment eliminations		(1,708	)		(2,566	)		(4,264	)		(4,462	)
Gross profit as reported	$	17,181		$	8,844		$	14,017		$	13,617
Income (loss) before provision for income taxes:
Pekin Campus	$	10,790		$	16,331		$	5,672		$	16,413
Marketing and distribution		1,607			1,036			3,618			1,824
Other production		(783	)		7,570			(6,484	)		6,361
Corporate and other		(4,019	)		(2,822	)		(8,377	)		(5,085	)
	$	7,595		$	22,115		$	(5,571	)	$	19,513
Depreciation and amortization of intangibles:
Pekin Campus	$	4,998		$	5,084		$	9,816		$	9,621
Other production		455			1,458			1,464			2,822
Corporate and other		228			186			455			419
	$	5,681		$	6,728		$	11,735		$	12,862
Interest expense, net of capitalized interest:
Pekin Campus	$	(151	)	$	(3	)	$	(635	)	$	(33	)
Marketing and distribution		109			336			604			573
Other production		(151	)		(39	)		(508	)		(54	)
Corporate and other		1,927			25			3,838			33
	$	1,734		$	319		$	3,299		$	519

Schedule of Assets by Operating Segments

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

	June 30, 2023		December 31, 2022
Total assets:
Pekin Campus	$	253,220	$	257,089
Marketing and distribution		122,368		114,755
Other production		54,326		51,886
Corporate and other		41,496		54,591
	$	471,410	$	478,321