Operating Segments

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Operating Segments

Operating Segments.

The Company has two reportable segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol, including premium beverage alcohol and industrial alcohol, and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry), fuel grade alcohol, and corn oil. The distillery products segment also includes warehouse services, including barrel put away, barrel storage, and barrel retrieval services. Ingredient solutions consists of specialty starches and proteins, commodity starches and commodity proteins.

Operating profit for each segment is based on net sales less identifiable operating expenses.  Non-direct selling, general and administrative expenses, interest expense, earnings from our equity method investments, other special charges and other general miscellaneous expenses have been excluded from segment operations and classified as Corporate.  Receivables, inventories and equipment have been identified with the segments to which they relate.  All other assets are considered as Corporate.

	Quarter Ended						Year to Date Ended
	June 30, 2017			June 30, 2016			June 30, 2017			June 30, 2016
Net Sales to Customers
Distillery products	$	70,699		$	66,740		$	144,648		$	130,582
Ingredient solutions	15,054			13,652			28,274			26,645
Total	85,753			80,392			172,922			157,227
Gross Profit
Distillery products	15,953			13,663			32,568			28,515
Ingredient solutions	2,872			1,868			5,298			4,062
Total	18,825			15,531			37,866			32,577
Depreciation and Amortization
Distillery products	2,125			1,957			4,171			4,475
Ingredient solutions	416			411			824			855
Corporate	275			310			559			653
Total	2,816			2,678			5,554			5,983
Income before Income Taxes
Distillery products	14,131			12,900			29,649			27,283
Ingredient solutions	2,269			1,148			4,074			2,750
Corporate	(7,084		)	(4,170		)	(12,875		)	(9,224		)
Total	$	9,316		$	9,878		$	20,848		$	20,809

The following table allocates assets to each segment:

	As of June 30, 2017		As of December 31, 2016
Identifiable Assets
Distillery products	$	177,718	$	161,059
Ingredient solutions	26,274		27,109
Corporate	37,954		37,168
Total	$	241,946	$	225,336