

NOTE 2:	OTHER BALANCE SHEET CAPTIONS

Inventory. Inventory consists of the following:



	December 31,
	2016		2015
Finished goods	$	14,002	$	15,126
Barreled distillate (bourbon and whiskey)	50,941		28,278
Raw materials	4,274		6,675
Work in process	1,933		2,364
Maintenance materials	6,231		5,371
Other	1,477		887
Total	$	78,858	$	58,701

Property and equipment. Property and equipment consist of the following:



	December 31,
	2016			2015
Land, buildings and improvements	$	67,487		$	56,143
Transportation equipment	3,253			5,417
Machinery and equipment	164,871			152,742
Construction in progress	10,608			15,612
Property and equipment, at cost	246,219			229,914
Less accumulated depreciation and amortization	(153,428		)	(146,360		)
Property and equipment, net	$	92,791		$	83,554

Property and equipment includes machinery and equipment assets under capital leases totaling $0 and $8,376 at December 31, 2016 and 2015, respectively. Accumulated depreciation for these leased assets was $5,756 at December 31, 2015.

Accrued expenses. Accrued expenses consist of the following:



	December 31,
	2016		2015
Employee benefit plans	$	820	$	1,027
Salaries and wages	5,641		6,790
Restructuring and severance charges	124		517
Property taxes	824		784
Other accrued expenses	1,536		1,282
Total	$	8,945	$	10,400

Deferred credits. Deferred credits consist of the following:



	Year Ended December 31,
	2016		2015
USDA grant^(a)	$	1,434	$	1,949
LCD reimbursement^(b)	959		1,042
Other reimbursement	313		411
Deferred incentive	272		—
Total	$	2,978	$	3,402


^(a)	In 2001, the United States Department of Agriculture developed a grant program for the gluten industry ("USDA grant") and the Company received nearly $26,000 of grants required to be used for research, marketing, promotional and capital costs related to value added gluten and starch products.

^(b)

In 2012, the Lawrenceburg Conservancy District ("LCD") in Greendale, IN agreed to reimburse the Company up to $1,250 of certain capital maintenance costs of a Company owned warehouse structure that is integral to the efficacy of the LCD’s flood control system ("LCD reimbursement"). Certain capital maintenance activities were completed prior to December 31, 2012 and the remaining capital maintenance activities were completed during 2014. As of December 31, 2014 the Company had received a total of $1,236 in reimbursements.