Operating Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Operating Segments

Operating Segments

At June 30, 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 June 30,				Year to Date Ended June 30,
	2020		2019		2020		2019
Sales to Customers
Distillery Products	$	75,189	$	74,023	$	155,191	$	148,600
Ingredient Solutions	17,371		16,478		36,451		30,997
Total	$	92,560	$	90,501	$	191,642	$	179,597
Gross Profit
Distillery Products	$	16,002	$	16,503	$	34,251	$	31,742
Ingredient Solutions	4,700		3,019		9,662		4,440
Total	$	20,702	$	19,522	$	43,913	$	36,182
Depreciation and Amortization
Distillery Products	$	2,447	$	2,185	$	4,848	$	4,354
Ingredient Solutions	469		367		922		739
Corporate	304		240		574		509
Total	$	3,220	$	2,792	$	6,344	$	5,602
Income (loss) before Income Taxes
Distillery Products	$	14,434	$	14,866	$	30,667	$	28,301
Ingredient Solutions	4,099		2,325		8,313		3,100
Corporate	(7,493)		(6,638)		(14,874)		(12,587)
Total	$	11,040	$	10,553	$	24,106	$	18,814

The following table allocates assets to each segment as of:

	June 30, 2020		December 31, 2019
Identifiable Assets
Distillery Products	$	290,683	$	271,766
Ingredient Solutions	36,945		30,802
Corporate	29,385		20,029
Total	$	357,013	$	322,597