Equity Method Investments

3 Months Ended

Mar. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments.

As of March 31, 2018, the Company had no investments accounted for using the equity method of accounting. Until July 3, 2017, the Company had a 30 percent interest in Illinois Corn Processing ("ICP"), which manufactured alcohol for fuel, industrial and beverage applications. The Company completed the sale of its equity ownership interest in ICP to Pacific Ethanol Central, LLC, on July 3, 2017, consistent with an Agreement and Plan of Merger entered into on June 26, 2017.

Summary Financial Information (unaudited). Condensed financial information related to the Company’s non-consolidated equity method investment in ICP for the quarter ended March 31, 2017 is shown below.



	Quarter Ended March 31,
	2017
ICP’s Operating results:
Net sales ^(a)	$	38,385
Cost of sales and expenses ^(b)	36,814
Net income	$	1,571


^(a)	Includes related party sales to MGPI of $8,657 for the quarter ended March 31, 2017.


^(b)	Includes depreciation and amortization of $858 for the quarter ended March 31, 2017.

The Company’s equity method investment earnings for the quarter ended March 31, 2017, based on unaudited financial statements, was $471.