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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Sales $ 209,001 $ 194,982 $ 410,011 $ 390,217
Cost of sales 132,706 135,758 263,892 259,172
Gross profit 76,295 59,224 146,119 131,045
Advertising and promotion expenses 8,639 6,065 16,372 11,569
Selling, general, and administrative expenses 23,513 17,853 44,045 34,090
Operating income 44,143 35,306 85,702 85,386
Interest expense, net (1,282) (1,543) (2,277) (3,141)
Other income (expense), net (93) (1,062) 30 (1,008)
Income before income taxes 42,768 32,701 83,455 81,237
Income tax expense 10,804 7,339 20,459 18,504
Net income 31,964 25,362 62,996 62,733
Net loss attributable to noncontrolling interest 162 198 201 264
Net income attributable to MGP Ingredients, Inc. 32,126 25,560 63,197 62,997
Income attributable to participating securities, basic (324) (217) (633) (535)
Income attributable to participating securities, diluted (324) (217) (633) (535)
Net income used in earnings per common share calculation, basic 31,802 25,343 62,564 62,462
Net income used in earnings per common share calculation, diluted $ 31,802 $ 25,343 $ 62,564 $ 62,462
Weighted average common shares        
Basic (in shares) 22,062,142 22,002,385 22,051,244 21,995,779
Diluted (in shares) 22,139,663 22,002,385 22,106,113 21,995,779
Earnings per common share        
Basic (in dollars per share) $ 1.44 $ 1.15 $ 2.84 $ 2.84
Diluted (in dollars per share) $ 1.44 $ 1.15 $ 2.83 $ 2.84