Operating Segments

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Operating Segments

Operating Segments

At September 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 September 30,				Year to Date Ended September 30,
	2020		2019		2020		2019
Sales to Customers
Distillery Products	$	81,622	$	73,295	$	236,813	$	221,895
Ingredient Solutions	21,342		17,390		57,793		48,387
Total	$	102,964	$	90,685	$	294,606	$	270,282
Gross Profit
Distillery Products	$	17,307	$	15,905	$	51,559	$	47,647
Ingredient Solutions	5,855		2,885		15,516		7,325
Total	$	23,162	$	18,790	$	67,075	$	54,972
Depreciation and Amortization
Distillery Products	$	2,491	$	2,274	$	7,339	$	6,628
Ingredient Solutions	480		384		1,402		1,123
Corporate	303		277		877		786
Total	$	3,274	$	2,935	$	9,618	$	8,537
Income (loss) before Income Taxes
Distillery Products	$	15,707	$	14,180	$	46,374	$	42,481
Ingredient Solutions	5,191		2,226		13,504		5,326
Corporate	(7,655)		(5,166)		(22,529)		(17,753)
Total	$	13,243	$	11,240	$	37,349	$	30,054

The following table allocates assets to each segment as of:

	September 30, 2020		December 31, 2019
Identifiable Assets
Distillery Products	$	282,504	$	271,766
Ingredient Solutions	40,442		30,802
Corporate	38,800		20,029
Total	$	361,746	$	322,597