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Revenue | 12 Months Ended
--- | ---
Dec. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract] |
Revenue |
NOTE 3: | REVENUE
Adoption of Topic 606, Revenue from Contracts with Customers. On January 1, 2018, the Company adopted Topic 606, using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Financial results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historic accounting under ASC 605, Revenue Recognition. The Company has completed its evaluation of the impact of Topic 606 and concluded that there is no impact to the financial statements as a result of its adoption. The Company recorded no adjustment to opening retained earnings as of January 1, 2018 related to the transition from ASC 605 to Topic 606 and there are no differences to disclose to reconcile financial statement activity as reported under Topic 606 to ASC 605 for the year ended December 31, 2018. Disaggregation of Revenue. The following table presents the Company's revenues disaggregated by segment and major products and services.
|  | NET SALES |
|  | Year Ended December 31, |
|  | 2018 |  | 2017(a) |  | 2016(a) |
Distillery Products |  |  |  |  |  |  |
Premium beverage alcohol |  | $ | 188,431 |  |  | $ | 177,998 |  |  | $ | 150,364 |  |
Industrial alcohol |  | 80,650 |  |  | 76,636 |  |  | 77,290 |  |
Food grade alcohol |  | 269,081 |  |  | 254,634 |  |  | 227,654 |  |
Fuel grade alcohol |  | 6,347 |  |  | 6,368 |  |  | 7,372 |  |
Distillers feed and related co-products |  | 25,698 |  |  | 19,332 |  |  | 21,780 |  |
Warehouse services |  | 12,929 |  |  | 10,674 |  |  | 8,437 |  |
Total distillery products |  | $ | 314,055 |  |  | $ | 291,008 |  |  | $ | 265,243 |  |
Ingredient Solutions |  |  |  |  |  |  |
Specialty wheat starches |  | $ | 28,594 |  |  | $ | 28,092 |  |  | $ | 26,803 |  |
Specialty wheat proteins |  | 21,098 |  |  | 19,458 |  |  | 18,211 |  |
Commodity wheat starch |  | 9,223 |  |  | 8,288 |  |  | 7,002 |  |
Commodity wheat protein |  | 3,119 |  |  | 602 |  |  | 1,004 |  |
Total ingredient solutions |  | $ | 62,034 |  |  | $ | 56,440 |  |  | $ | 53,020 |  |
Total net sales |  | $ | 376,089 |  |  | $ | 347,448 |  |  | $ | 318,263 |  |
(a) Prior year amounts were not adjusted upon adoption of Topic 606. The following table presents the Company's revenues disaggregated by segment and timing of revenue recognition.
|  | NET SALES |
|  | Year Ended December 31, |
|  | 2018 |  | 2017(a) |  | 2016(a) |
Distillery Products |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 301,126 |  |  | $ | 280,334 |  |  | $ | 256,806 |  |
Services transferred over time |  | 12,929 |  |  | 10,674 |  |  | 8,437 |  |
Total distillery products |  | $ | 314,055 |  |  | $ | 291,008 |  |  | $ | 265,243 |  |
Ingredient Solutions |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 62,034 |  |  | $ | 56,440 |  |  | $ | 53,020 |  |
Total net sales |  | $ | 376,089 |  |  | $ | 347,448 |  |  | $ | 318,263 |  |
(a) Prior year amounts were not adjusted upon adoption of Topic 606. The Company generates revenues from the distillery products segment by the sale of products and by providing warehouse services related to the storage and aging of customer products. The Company generates revenues from the ingredient solutions segment by the sale of products. Contracts with customers in both segments include a single performance obligation (either the sale of products or the provision of warehouse services).

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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- References No definition available. + Details
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