3. Inventories

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Inventories

Inventories consisted primarily of bulk ethanol, corn, co-products, Low-Carbon Fuel Standard (“LCFS”) credits and unleaded fuel, and are valued at the lower-of-cost-or-net realizable value, with cost determined on a first-in, first-out basis.

Inventory balances consisted of the following (in thousands):

	September 30, 2016		December 31, 2015
Finished goods	$	35,410	$	31,153
LCFS credits		11,532		6,957
Raw materials		9,848		9,891
Work in progress		6,481		11,121
Other		1,717		1,698
Total	$	64,988	$	60,820