Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

NOTE 15: QUARTERLY FINANCIAL DATA (UNAUDITED)

	Year Ended December 31, 2017
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Sales	$	91,043		$	87,852		$	87,892		$	91,345
Less: excise tax	2,850			1,519			2,139			4,176
Net sales	88,193			86,333			85,753			87,169
Cost of sales	68,668			67,708			66,928			68,128
Gross profit	19,525			18,625			18,825			19,041
SG&A expenses	8,993			8,154			8,311			7,649
Operating income	10,532			10,471			10,514			11,392
Gain on sale of equity method investment (Note 3)(a)	—			11,381			—			—
Equity method investment earnings (loss) (Note 3)	—			—			(819		)	471
Interest expense, net	(250		)	(224		)	(379		)	(331		)
Income before income taxes	10,282			21,628			9,316			11,532
Income tax expense (benefit) (Note 6)(b)	(2,357		)	7,491			2,947			2,854
Net income	$	12,639		$	14,137		$	6,369		$	8,678
Basic and diluted EPS data	$	0.74		$	0.82		$	0.37		$	0.50
Dividends and dividend equivalents per common share and per unit	$	0.04		$	0.89		$	0.04		$	0.04

^(a)  Net income was positively impacted during the third quarter of 2017 by a gain on sale of equity method investment of $11,381 related to the sale of the Company's 30 percent interest in ICP to Pacific Ethanol on July 3, 2017 (Note 3).

^(b)  Net income was positively impacted during the fourth quarter of 2017 by a provisional income tax benefit of $3,343 related to the Tax Act enacted on December 22, 2017 (Note 6).

^(c)  Quarterly EPS amounts may not add to amounts for the year because quarterly and annual EPS calculations are performed separately.

	Year Ended December 31, 2016(a) (b)
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Sales	$	85,005		$	83,711		$	82,174		$	77,191
Less: excise tax	3,860			3,820			1,782			356
Net sales	81,145			79,891			80,392			76,835
Cost of sales	63,560			64,770			64,861			59,789
Gross profit	17,585			15,121			15,531			17,046
SG&A	6,987			6,981			6,404			6,321
Other operating income, net	—			(3,385		)	—			—
Operating income	10,598			11,525			9,127			10,725
Equity method investment earnings (Note 3)	1,776			664			1,079			517
Interest expense	(314		)	(341		)	(328		)	(311		)
Income before income taxes	12,060			11,848			9,878			10,931
Income tax expense (Note 6)	3,775			2,316			3,570			3,872
Net income	$	8,285		$	9,532		$	6,308		$	7,059
Basic and diluted EPS data	$	0.48		$	0.55		$	0.37		$	0.41
Dividends and dividend equivalents per common share and per unit	$	0.02		$	0.02		$	—		$	0.08

^(a)  Net income was positively impacted during the third quarter of 2016 by other operating income, net, of $3,385 related to a legal settlement agreement and a gain on sale of long-lived assets and by a lower effective income tax rate related to the implementation of ASU No. 2016-09, Compensation—Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting.

^(b)  Quarterly EPS amounts may not add to amounts for the year because quarterly and annual EPS calculations are performed separately.