Operating Segments

6 Months Ended

Jun. 30, 2019

At June 30, 2019 and 2018, the Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry) and fuel grade alcohol. The distillery products segment also includes warehouse services, including barrel put away, storage, retrieval, and blending services. Ingredient solutions segment consists of specialty starches and proteins and commodity starches and proteins.

Operating profit for each segment is based on sales less identifiable operating expenses. Non-direct SG&A, interest expense, other special charges, and other general miscellaneous expenses are excluded from segment operations and are 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 June 30,						Year to Date Ended June 30,
	2019			2018			2019			2018
Sales to Customers
Distillery products	$	74,023		$	72,652		$	148,600		$	147,029
Ingredient solutions	16,478			15,600			30,997			29,179
Total	90,501			88,252			179,597			176,208
Gross Profit
Distillery products	16,503			16,680			31,742			32,550
Ingredient solutions	3,019			2,761			4,440			5,842
Total	19,522			19,441			36,182			38,392
Depreciation and Amortization
Distillery products	2,185			2,257			4,354			4,498
Ingredient solutions	367			379			739			813
Corporate	240			261			509			515
Total	2,792			2,897			5,602			5,826
Income (loss) before Income Taxes
Distillery products	14,866			14,777			28,301			28,954
Ingredient solutions	2,325			2,142			3,100			4,566
Corporate	(6,638		)	(6,076		)	(12,587		)	(12,495		)
Total	$	10,553		$	10,843		$	18,814		$	21,025

The following table allocates assets to each segment as of:



	June 30, 2019		December 31, 2018
Identifiable Assets
Distillery products	$	242,518	$	223,890
Ingredient solutions	33,264		35,147
Corporate	22,942		18,855
Total	$	298,724	$	277,892