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Operating Segments

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Operating Segments

Operating Segments

At September 30, 2018 and 2017, the Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry) and fuel grade alcohol. The distillery products segment also includes warehouse services, including barrel put away, storage, retrieval, and blending services. Ingredient solutions consists of specialty starches and proteins and commodity starches and proteins.

Operating profit for each segment is based on net sales less identifiable operating expenses.  Non-direct SG&A, interest expense, earnings from the Company's equity method investments until sold on July 3, 2017, other special charges, and other general miscellaneous expenses are excluded from segment operations and are classified as Corporate.  Receivables, inventories, and equipment have been identified with the segments to which they relate.  All other assets are considered as Corporate.

		Quarter Ended								Year to Date Ended
		September 30, 2018				September 30, 2017				September 30, 2018				September 30, 2017
Net Sales to Customers
Distillery products		$	78,336			$	72,335			$	225,365			$	216,984
Ingredient solutions		16,695				13,998				45,874				42,271
Total		95,031				86,333				271,239				259,255
Gross Profit
Distillery products		16,269				16,501				48,819				49,069
Ingredient solutions		3,330				2,124				9,172				7,422
Total		19,599				18,625				57,991				56,491
Depreciation and Amortization
Distillery products		2,067				2,128				6,565				6,300
Ingredient solutions		369				419				1,182				1,242
Corporate		267				340				782				899
Total		2,703				2,887				8,529				8,441
Income (loss) before Income Taxes
Distillery products		14,344				14,836				43,298				44,485
Ingredient solutions		2,671				1,518				7,236				5,592
Corporate		(5,334		)		5,274				(17,828		)		(7,601		)
Total		$	11,681			$	21,628			$	32,706			$	42,476

The following table allocates assets to each segment as of:

		September 30, 2018				December 31, 2017
Identifiable Assets
Distillery products		$	219,587			$191,321
Ingredient solutions		38,139				28,950
Corporate		15,854				20,057
Total		$	273,580			$240,328

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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