Operating Segments

9 Months Ended

Sep. 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 (losses) from our equity method investments (including gain on sale of equity method investment), 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
	September 30, 2017		September 30, 2016			September 30, 2017			September 30, 2016
Net Sales to Customers
Distillery products	$	72,335	$	66,664		$	216,984		$	197,245
Ingredient solutions	13,998		13,227			42,271			39,873
Total	86,333		79,891			259,255			237,118
Gross Profit
Distillery products	16,501		12,364			49,069			40,879
Ingredient solutions	2,124		2,757			7,422			6,819
Total	18,625		15,121			56,491			47,698
Depreciation and Amortization
Distillery products	2,128		1,939			6,300			6,415
Ingredient solutions	419		399			1,242			1,253
Corporate	340		290			899			942
Total	2,887		2,628			8,441			8,610
Income (loss) before Income Taxes
Distillery products	14,836		11,215			44,485			38,497
Ingredient solutions	1,518		2,016			5,592			4,767
Corporate	5,274		(1,383		)	(7,601		)	(10,607		)
Total	$	21,628	$	11,848		$	42,476		$	32,657

The following table allocates assets to each segment:

	As of September 30, 2017		As of December 31, 2016
Identifiable Assets
Distillery products	$	183,943	$	161,059
Ingredient solutions	27,587		27,109
Corporate	22,487		37,168
Total	$	234,017	$	225,336