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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Sales $ 201,146 $ 176,611 $ 591,363 $ 459,873
Cost of sales 142,098 119,525 401,270 313,661
Gross profit 59,048 57,086 190,093 146,212
Advertising and promotion expenses 7,279 5,664 18,848 9,888
Selling, general and administrative expenses 17,904 18,527 52,029 55,266
Other operating (income) expense, net 1 11 (34) 11
Operating income 33,864 32,884 119,250 81,047
Interest expense, net (1,350) (1,116) (4,491) (2,708)
Other income (expense), net (1,353) (421) (2,361) (479)
Income before income taxes 31,161 31,347 112,398 77,860
Income tax expense 7,533 7,674 26,037 18,701
Net income 23,628 23,673 86,361 59,159
Net (income) loss attributable to noncontrolling interest 180 203 444 279
Net income attributable to MGP Ingredients, Inc. 23,808 23,876 86,805 59,438
Income attributable to participating securities, basic (188) (175) (688) (471)
Income attributable to participating securities, diluted (188) (175) (688) (471)
Net income used in Earnings Per Common Share calculation, basic 23,620 23,701 86,117 58,967
Net income used in Earnings Per Common Share calculation, diluted $ 23,620 $ 23,701 $ 86,117 $ 58,967
Share information:        
Basic weighted average common shares (in shares) 22,008,381 21,981,201 22,000,026 20,293,818
Diluted weighted average common shares (in shares) 22,228,814 21,981,201 22,000,026 20,293,818
Basic Earnings Per Common Share (in dollars per share) $ 1.07 $ 1.08 $ 3.91 $ 2.91
Diluted Earnings Per Common Share (in dollars per share) $ 1.06 $ 1.08 $ 3.91 $ 2.91