Operating Segments

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Operating Segments

Operating Segments

At March 31, 2020 and 2019, 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 selling, general and administrative expenses, 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 March 31,
	2020		2019
Sales to Customers
Distillery Products	$	80,002	$	74,577
Ingredient Solutions	19,080		14,519
Total	$	99,082	$	89,096
Gross Profit
Distillery Products	$	18,249	$	15,239
Ingredient Solutions	4,962		1,421
Total	$	23,211	$	16,660
Depreciation and Amortization
Distillery Products	$	2,401	$	2,169
Ingredient Solutions	453		372
Corporate	271		269
Total	$	3,125	$	2,810
Income (loss) before Income Taxes
Distillery Products	$	16,233	$	13,435
Ingredient Solutions	4,214		775
Corporate	(7,381)		(5,949)
Total	$	13,066	$	8,261

The following table allocates assets to each segment as of:

	March 31, 2020		December 31, 2019
Identifiable Assets
Distillery Products	$	285,244	$	271,766
Ingredient Solutions	36,202		30,802
Corporate	60,956		20,029
Total	$	382,402	$	322,597