Equity Method Investments

9 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

As of September 30, 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 and year to date ended September 30, 2017 is shown below.



	Quarter Ended September 30,		Year to Date Ended September 30,
	2017		2017
ICP’s Operating results:
Net sales ^(a)	$	—	$	78,062
Cost of sales and expenses ^(b)	—		79,224
Net loss	$	—	$	(1,162	)


^(a)	Includes related party sales to MGPI for the quarter and year to date ended September 30, 2017 of $0 and $17,672, respectively.


^(b)	Includes depreciation and amortization for the quarter and year to date ended September 30, 2017of $0 and $1,720, respectively.

The Company’s equity method investment losses for the quarter and year to date ended September 30, 2017, based on unaudited financial statements, were $0 and $348, respectively. The Company also had a gain on sale of equity method investment for the quarter and year to date ended September 30, 2017 of $11,381, resulting from the July 3, 2017 sale of ICP.