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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Sales $ 194,982 $ 174,939 $ 390,217 $ 283,262
Cost of sales 135,758 118,112 259,172 194,136
Gross profit 59,224 56,827 131,045 89,126
Advertising and promotion expenses 6,065 3,371 11,569 4,224
Selling, general and administrative expenses 17,859 25,793 34,125 36,739
Other operating (income) expense, net (6) 0 (35) 0
Operating income 35,306 27,663 85,386 48,163
Interest expense, net (1,543) (1,104) (3,141) (1,592)
Other income (expense), net (1,062) (88) (1,008) (58)
Income before income taxes 32,701 26,471 81,237 46,513
Income tax expense 7,339 6,412 18,504 11,027
Net income 25,362 20,059 62,733 35,486
Net (income) loss attributable to noncontrolling interest 198 76 264 76
Net income attributable to MGP Ingredients, Inc. 25,560 20,135 62,997 35,562
Income attributable to participating securities, basic (217) (150) (535) (299)
Income attributable to participating securities, diluted (217) (150) (535) (299)
Net income used in Earnings Per Common Share calculation, basic 25,343 19,985 62,462 35,263
Net income used in Earnings Per Common Share calculation, diluted $ 25,343 $ 19,985 $ 62,462 $ 35,263
Basic weighted average common shares (in shares) 22,002,385 21,916,721 21,995,779 19,436,143
Diluted weighted average common shares (in shares) 22,002,385 21,916,721 21,995,779 19,436,143
Basic Earnings Per Common Share (in dollars per share) $ 1.15 $ 0.91 $ 2.84 $ 1.81
Diluted Earnings Per Common Share (in dollars per share) $ 1.15 $ 0.91 $ 2.84 $ 1.81