Segments (Tables)

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Net Sales
Pekin Campus, recorded as gross:
Alcohol sales	$	128,554		$	133,680		$	388,629		$	393,498
Essential ingredient sales		51,634			54,537			169,220			169,670
Intersegment sales		363			332			1,120			857
Total Pekin Campus sales		180,551			188,549			558,969			564,025
Marketing and distribution:
Alcohol sales, gross	$	58,805		$	55,262		$	215,741		$	172,746
Alcohol sales, net		74			308			292			975
Intersegment sales		3,392			3,121			8,734			9,360
Total marketing and distribution sales		62,271			58,691			224,767			183,081
Other production, recorded as gross:
Alcohol sales	$	57,159		$	64,492		$	122,477		$	191,483
Essential ingredient sales		17,841			24,439			40,614			66,748
Intersegment sales		37			3			99			14
Total Other production sales		75,037			88,934			163,190			258,245
Corporate and other		4,060			4,159			12,342			12,064
Intersegment eliminations		(3,792	)		(3,456	)		(9,953	)		(10,231	)
Net sales as reported	$	318,127		$	336,877		$	949,315		$	1,007,184
Cost of goods sold:
Pekin Campus	$	179,995		$	207,939		$	546,591		$	572,512
Marketing and distribution		58,051			55,159			212,923			173,670
Other production		73,584			91,663			165,401			261,514
Corporate and other		3,538			2,925			9,322			8,995
Intersegment eliminations		(1,202	)		(970	)		(3,100	)		(3,285	)
Cost of goods sold as reported	$	313,966		$	356,716		$	931,137		$	1,013,406
Gross profit (loss):
Pekin Campus	$	556		$	(19,390	)	$	12,378		$	(8,487	)
Marketing and distribution		4,220			3,532			11,844			9,411
Other production		1,453			(2,729	)		(2,211	)		(3,269	)
Corporate and other		522			1,234			3,020			3,069
Intersegment eliminations		(2,590	)		(2,486	)		(6,853	)		(6,946	)
Gross profit (loss) as reported	$	4,161		$	(19,839	)	$	18,178		$	(6,222	)
Income (loss) before provision for income taxes:
Pekin Campus	$	(1,956	)	$	(22,664	)	$	3,716		$	(6,252	)
Marketing and distribution		2,403			1,622			6,019			3,444
Other production		(20	)		(4,958	)		(6,497	)		1,404
Corporate and other		(3,916	)		(2,038	)		(12,298	)		(7,121	)
	$	(3,489	)	$	(28,038	)	$	(9,060	)	$	(8,525	)
Depreciation and amortization of intangibles:
Pekin Campus	$	4,961		$	4,758		$	14,778		$	14,381
Other production		458			1,273			1,921			4,095
Corporate and other		228			229			683			646
	$	5,647		$	6,260		$	17,382		$	19,122
Interest expense, net of capitalized interest:
Pekin Campus	$	108		$	(48	)	$	(527	)	$	(81	)
Marketing and distribution		111			487			713			1,060
Other production		678			(74	)		173			(128	)
Corporate and other		1,103			(25	)		4,940			8
	$	2,000		$	340		$	5,299		$	859

Schedule of Assets by Operating Segments

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

	September 30, 2023		December 31, 2022
Total assets:
Pekin Campus	$	246,580	$	257,089
Marketing and distribution		113,797		114,755
Other production		57,280		51,886
Corporate and other		43,445		54,591
	$	461,102	$	478,321