CONCENTRATIONS AND RELATED PARTIES

12 Months Ended

Dec. 31, 2021

Risks and Uncertainties [Abstract]

CONCENTRATIONS AND RELATED PARTIES

CONCENTRATIONS AND RELATED PARTIES

Significant customers.  For 2021, 2020, and 2019, the Company had no sales to an individual customer that accounted for more than 10 percent of consolidated sales.  During the years 2021, 2020, and 2019, the Company’s ten largest customers accounted for approximately 36 percent, 37 percent, and 39 percent of consolidated sales, respectively.

Significant suppliers. For 2021, the Company had purchases from two grain suppliers that approximated 14 percent of consolidated purchases. In addition, the Company’s ten largest suppliers, accounted for approximately 43 percent of consolidated purchases.

For 2020, the Company had purchases from two grain suppliers that approximated 30 percent of consolidated purchases. In addition, the Company’s ten largest suppliers accounted for approximately 65 percent of consolidated purchases.

For 2019, the Company had purchases from two grain suppliers that approximated 31 percent of consolidated purchases. In addition, the Company’s ten largest suppliers accounted for approximately 66 percent of consolidated purchases.

Related Parties. For the year ended December 31, 2021, the Company purchased $23,463 of bulk beverage alcohol from LMX. The Company holds 50 percent interest in LMX, which is accounted for as equity method investments. See Note 1, Nature of Operations and Summary of Significant Accounting Policies.

For the year ended December 31, 2021, the Company purchased $2,718 of finished goods from Meier’s Wine Cellars, Inc. (“Meier’s”) and sold $2,411 of bulk beverage alcohol to Meier’s. The Lux Family Group owns approximately 22.8 percent of the outstanding shares of MGP. One member of the Lux Family Group has a relative that is the president of Meier’s. The members of the Lux Family Group did not have any involvement in the negotiation of transactions for either party.